Glen L.

How Will the U.S. Recover from the Debt Crisis?

I agree with the view that the US will "recover" from the debt crisis by defaulting on the entitlement programs, primarily Social Security and Medicare which will see gradual, piecemeal reductions in benefits. Congress will attempt to negate the "third rail" by targeting minority sectors within the geezer population for reduced benefits, never enough to seriously threaten their incumbency in the next election.

I also think the US will take extraordinary measures to save the dollar and continue to pay the interest on the foreign debt. This means rising interest rates, much higher taxes, and a true depression in the not distant future. The alternative -- printing money to pay -- is the road to Zimbabwe. I don't believe the Fed will allow that to happen.

The longer range forecast is for the collapse of the fiat dollar anyway, a return to the gold standard, the abolition of the Fed, and the end of the American empire. We can only hope.

Peak Oil as a Function of Earth's Volume

Cetin, "There is still a huge abundance of alternative energy in the form of shale oil, ethanol, and nuclear power. All this talk of energy crisis is fear mongering. " - for once I partially agree with you. Ethanol is a hoax. Nuclear is proven, and shale oil a huge potential resource. There is some reason to believe that abiotic oil genesis is real. And all alternative energy sources should be given the same chance that the free market gives all partipants: prove it or fail. But no government subsidies - only the parasites need those.