I haven’t posted for a while, so I decided I just wanted to make a quick entry. Not too much has been going on. I’m back to work/school, taking a college course, and volunteering at church so I’ve been pretty busy.
Of course, the economy has tanked, and banks that survived the Great Depression are falling. Lehman Brothers, AIG, Merrill Lynch, and others are hurting or in dire need of a bailout. The question is: should we bailout these companies that took on subprime mortgage risk? Ideally, we shouldn’t, but it sounds like if we don’t then our economy will truly fail. Maybe the next question is: Should we let the economy fail so we can start over from scratch? It will sure be interesting to see what comes out of Congress this week. It sounds like we’ll be selling our children’s and grandchildren’s futures. How sad.
We can’t forget about the recent hurricanes that blazed a path of destruction through the Gulf of Mexico. Many are still without power and at least one drilling platfrom sunk to the bottom of the Gulf. Again, it will be interesting to see what the long term effect on crude and gasoline prices are. There has been talk of at least some short-term shortages, but no one wants any hysteria.
I’m probably going to send an email to some friends tonight with a link to chrismortenson.com so people can watch his awesome Crash Course videos. I’m still a Peak Oil disciple and think our economy and potentially our way of life is in jeopardy. I don’t like to be a doomer, but that’s just how the evidence looks to me. I’m just glad I don’t have any money. I don’t trust Wall St., banks, or the dollar to be safe places to save! Until next time..!
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