I have predicted financial ruin on the horizon, being in the same camp as many economists dismissed as doomsday prophets.
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Not going to happen. Not when the USA is increasing oil output by 1 million barrels @ day every years for the last three years. Most estimates are that the USA will be able to keep increasing output by at a million barrels @ day for at least the next two years.
This is just huge. Its bigger than the dot com boom of the 1990’s.
And there’s at least one other technological revolution behind it in the form of advanced robotics and 3 d printing.
I would agree 100% with your apocalyptic scenarios if not for the huge transformations that have sprung up in the last 2-3 years. The USA has been De-capitalized for 40 years. The result of the changes in place now will result in an abrupt reversal. We are in the first years of a decades long recapitalization of America.
It’s not the technology that’s the problem. It’s the welfare state. It never stops growing... until death.