Stoneleigh: The worst depression in hundreds of years ahead

A very interesting place to visit is the La Brea tar pits in Los Angeles (the supposed site of the action in the Tommy Lee Jones movie “Volcano”, but much more interesting in real life). There you can see the preserved remains of North America’s megafauna that were unluckily trapped in the sticky tar over a period of thousands of years – mastodons (cousins of mammoths/elephants), camels, dire wolves, cave lions, smilodons (cousins of sabre-toothed tigers iirc). These aren’t dinosaurs, they are holocene era (i.e. fairly recent) mammals. Where did they all go? Nobody’s sure but funny enough their disappearance is coincident with the arrival of those eco-friendly tribes.

Oops … just noticed boomshackala got there before me on the eco-friendly tribes. Your other point about deforestation reminded me of a piece of trivia I came across recently – when was Chinese stir fry invented? … apparently it’s far from an ancient tradition, it’s only about 500 years old; after they’d chopped down all the trees they had to switch from slow-cooking stews to something that needed a lot less firewood.

That clearly shows that humans will exhaust all of one type of resource before replacing it with another (much harder to extract) or find ways to substancially reduce their use of what’s left.

Without the arrival of a “white knight” super fuel (fusion for example), future generations will all be doing “stir fry”.

I guess there are three things at play there. The first is that using the cheapest resource first makes perfect sense – why would you pay more when you can get the same thing cheaper? The second is a form of “tragedy of the commons” – we don’t seem to be very good at conserving limited shared resources. The third, I would say, is the innumeracy of the media and the public. I’ve lost count of the number of times I’ve been told there couldn’t be a peak oil problem because there’s just been a “gigantic” find of a billion barrel of oil or somesuch. The journos never mention that’s a fortnight’s supply (which will take years to extract, even if it’s a real proven find instead of just a seismic survey result which more often than not it is).

So far, we’ve had a white knight each time. In the absence of one, enforced conservation and sustainable fuels together can be stretched for quite some time if we get our act together. Better get used to stir fry though.

Todays Automatic Earth restates the bearish case, now with added charts…
theautomaticearth.blogspot.com/2 … y-and.html

edit: the piece contains this cracking quote from Henry Morgenthau:

August 31 2010: Bubble case-studies: Ireland and Canada → theautomaticearth.blogspot.com/2 … anada.html

Great find BR.

A hit of doomster porn! :angry:

Looks like fun times ahead! :smiling_imp:

I would like to mention to the commenters who posted my photo in costume that it was posted as a joke because people were asking for a photo and it happened to be Halloween at the time. I was a 22 year old student when that was taken at a Halloween party. Needless to say, I don’t look like that anymore :wink:

I am a former research fellow at the Oxford Institute for Energy Studies, with a background in science, law and finance. I was very pleased to be able to return to Ireland, where I have spent a lot of time in earlier years and have many relatives. It is certainly one of my favourite places.

Welcome to the pin :wink:. Are you in Ireland at the moment doing another talk?

I’d really like to hear your take on the hyper inflation theory? Or do you think it’s deleveraging and deflation/depression all the way to the bottom?

And thank you for all your commentary to date, I find it very insightful and sobering.

I’m in America at the moment touring Michigan and the northern midwest. I’ll be back in Europe touring again after Christmas. Any excuse to visit Ireland works for me :slight_smile:

There will be a DVD version of one of my talks available online soon as well.

Stoneleigh on Max Keiser discussing the future of Canada’s housing bubble, Ireland gets a special mention also:

https://www.youtube.com/watch?v=sevM5IstFFY

financialsense.com/financial … fect-storm

Nicole Foss- Preparing for the next Tsunami The peaking of oil prices and the coming Depression. Resource Wars to follow. → financialsense.com/financial … xt-tsunami

zerohedge.com/article/yastro … n%E2%80%9D

theautomaticearth.blogspot.com/

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Lots of commentary on Europe.

I think we are hurtling towards a world where you actually have to have money before you can spend it!

Gone are the days of the banks trusting in one’s good nature and in one’s earning capacity and in the general bonhomie that inflated our bubble. We all gave each other buckets of money saying ‘give it back when you will!’

Will we get back to the bartering system? Never say never…

Dont understand the (seeming) fascination with this stonleigh character.

Seems like another earnest-blogger-turns-minor-media-sleb to me.

What qualifications does she have in economics or is it fortune telling? Whats her background in business or ecology?