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The Crisis is ENERGY, not just financial markets!

The idea that the Global Crisis is financial in origin is a catastrophic misunderstanding that is continuing to prevent the creation of a solution. Wall Street, global media and governments are filled with fools who mistakenly think that sub-prime paper was the origin of the problem. These people have a fundamentally flawed view of reality. They fail to understand that the growth of the industrial world over the last 100 years was only possible because of cheap energy from oil, not because of "brilliant" financial geniuses and "talented" leaders. The US property bubble and it's collapse was entirely due to forces driven by energy and the complete failure of governments to use the energy from oil to build an energy-sustainable world before Peak Oil caused the current catastrophic crash in global energy markets that is forcing a Power-Down from the unsustainable days of essentially free energy from oil. The longer the world stumbles along thinking that the problem is with financial markets, the deeper the energy crisis will become and the harder it will be to start to re-build fundamental infrastructure that could eventually bring back the possibility of new growth. The world will have to learn how to adapt to the new paradigm of NO GROWTH because global oil production will no longer support it. Massive debt taken on by the US and other nations during the current crisis will likely cause the collapse of many nations, including perhaps the US, unless the economists start to understand that the economy is supported by energy, not the other way around.^[1]

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