famos

From Subprime to Meltdown: Is Peak Oil Responsible?

Dear CLH,

I like and agree with most of your comments, i.e.. "Debt and not Peak Oil was responsible for the Meltdown". But, ....

I wish/hope you'd be a little more optimistic about young people (The Me First Generation). I agree with you that the people that were around in the 30's (meaning they grew up in the 40's & 50's) were not prone to over-borrow and were more inclined to save then the current middle aged and young people but I believe they are going to learn, albeit the hard way. I've always said, "Practicability always win's out in the end." Examples of what need's to be learned, as follows"

Loving parent's taking the time and responsibility for their children and teaching them discipline and respect before they enter school.

Parents living within their means, not being sheep and taking on unpayable debt, e.g. the ostentatious house (and not a home), the big, gas guzzling, needless pickups (toys) & van's, the regular expensive restaurant eat-outs because they don't know how to cook a meal.

High Schools where every kid (is over-weight) requires a car and school parking lot's (and budget cost's) are as big as shopping mall's.

Business where banks push credit cards onto kid's and any unqualified borrower (who have yet to learn responsibility) and CEO's who have no shame from stealing obscene so called compensation.

I'm sorry CLH, it appears that I'm even less optimistic than you. Our "values" really need to change.

Sorry,

Famos

From Subprime to Meltdown: Is Peak Oil Responsible?

I enjoyed reading all the previous comments and pretty much agree with most of what's been said, but.....

How come no one talks about "over population" anymore? It was an issue in the sixties. Are there less people today?

Or "values"? Like paying our debts, living within our means, saving, etc.

When existing light crude oil gets too expensive to make gasoline to burn, we will be forced to use the only resource that we have, that can satisfy the transportation gap. Coal (made in the USA to diesel (made in the USA).

Famos