[Greenpees]

Three points:

1. If Oil is replaced by another technology developed, or heavily invested by the United States, this authors fantasy is over.

2. There is no stable currency without the US Dollar. Is he suggesting that the Euro is backed by Gold? Of all the exports in the World oil may be critical, but it's a very small percentage of World trade. Even if oil prices switched to Euros, which it will not do, Economies must still buy the oil. Chinas exports are bought by those with money, not oil. Do you think China would trade off having the US as a customer to having only the Middle East as a Trading Partner?

3. We have FOOD, and the ability to produce alot more than we do already. I say Food is the new oil, under the authors scenario, because nations states will have a hell of a time producing enough on their own, and maybe we just "don't accept Euros for Grain"

Another doubter of the future of America. He may be right that things would get tough, probably real tough. But, if he thinks the world is ready to jump into a global depression just for the sake of one dictator in Iran, he's crazy.

[Pete from Shawnee Mission]

"But, if he thinks the world is ready to jump into a global depression just for the sake of one dictator in Iran, he's crazy."

They might not do it for Iran. They might do it because they are European, they have been taught to hate our wealth and power. They might do it just to watch us bleed out.

He is right about inflation. It is as much a tax on the rest of the world as on Americans.

[skinkinthegrass]

Thxs, for your interesting points..

[hubbubhubbub]

1. Very big if
2. There is no stable currency, period.
3. True, we have food but its production is dependent on abundant supplies of cheap fossil fuels.