otbricki

Peak Oil, Cars, and Depressions

Good article, no question that we are entering a period where US consumer consumption will not be the great engine of growth in the world that it has been. However there are mitigating factors, including growth overseas of large new middle class cohorts. And the housing situation is not as bad as you might think - US population is increasing and these people will want to live in houses.

If the US was smart it will keep the dollar cheap (no apparent problem there) and become more focused on exports.