Bruce Pile

Coming Soon: Banking Crisis of Historic Proportions

The article's assertion that we must have 4% or better GDP growth to grow our way out of all this debt induced problem reminds me of what I and others have written about over at theoildrum.com for years - peak oil and peak debt occurring at the same time. Our government has come to rely on money printing and growth to fix anything. But you can't have real GDP growth without cheap energy supply growth to fuel it. We've come to a point where that ain't gonna happen anymore.