Thread: Gerald Celente: What kind of economic trend forecaster predicts the end of time?

This is all just haemorrhaging due to oil production peaking. What we'll be looking at is a bumpy decline with a bunch of commentators blaming secondary factors. Only a few days ago some commentator was on I think BBC news and had the audacity to say that 'nobody predicted oil prices would be this high'. These people are simply ignorant of the larger picture, having spent their lives fussing over details.

Originally Posted by Xei

This is all just haemorrhaging due to oil production peaking. What we'll be looking at is a bumpy decline with a bunch of commentators blaming secondary factors. Only a few days ago some commentator was on I think BBC news and had the audacity to say that 'nobody predicted oil prices would be this high'. These people are simply ignorant of the larger picture, having spent their lives fussing over details.

Uh, no. Peak oil is a myth. What's really happening is the US empire and all of its tributary states (like in Western Europe) are collapsing under the pressure of hyper-statism. Entitlements, debt, interest on debt, wars, etc. Everything that's happening is due to the collapse of the empire.

Originally Posted by cmind

Uh, no. Peak oil is a myth. What's really happening is the US empire and all of its tributary states (like in Western Europe) are collapsing under the pressure of hyper-statism. Entitlements, debt, interest on debt, wars, etc. Everything that's happening is due to the collapse of the empire.

My mistake, there is infinite oil underground.

Derp.

Originally Posted by Xei

My mistake, there is infinite oil underground.

Derp.

You're just a statist troll. I'm not going to feed you.

EDIT: Nice vid, blueline. Unfortunately, I fear that trolls like Xei won't see it as an opportunity to learn about resource economics; rather they'll try to poke holes in bad faith.

Originally Posted by cmind

You're just a statist troll. I'm not going to feed you.

EDIT: Nice vid, blueline. Unfortunately, I fear that trolls like Xei won't see it as an opportunity to learn about resource economics; rather they'll try to poke holes in bad faith.

I don't think calling Xei a "statist troll" helps. He's correct, infinite oil doesn't exist underground. But the price system plays a huge role in determining the use of resources. Even if some sort of "peak oil" situation did occur/is occurring/will occur, it's not the end of the world.