<Public transport: making the right mobility choices The Oil Drum There Was Movement In The Basin...>

353 comments on The Expected Economic Impact of an Energy Downturn

Comments can no longer be added to this story.

| Show without comments | PDF version

simkin on March 26, 2008 - 11:09am Permalink | Subthread | Parent | Comments top

Short answer: they won't.

Entitlement programs of all sorts will be scaled back or eliminated.

Infrastructure, especially roads, will be maintained less well and eventually not at all.

The fact is that we have built an enormous edifice that couldn't be funded even with steady growth, and certainly won't be in a shrinking economy.

In the short term you'll see desperate tax grabs, along with enormous labor disruptions from public sector unions as their disproportionate wage increases stall and even more as serious layoffs begin.

Longer term you'll see a lot of very angry ex-entitlement recipients causing increasing political turmoil.

Comments can no longer be added to this story.
rogue on March 26, 2008 - 5:25pm Permalink | Subthread | Parent | Comments top

Inner city riots will be commonplace as welfare stipends disappear.

Comments can no longer be added to this story.
redcoltken on March 26, 2008 - 7:26pm Permalink | Subthread | Parent | Comments top

Ya know - I don't think so. I was around during the riots of LA - but something tell me the anger is not in the air - maybe because we are all screwed?

Comments can no longer be added to this story.
eric blair on March 28, 2008 - 1:18pm Permalink | Subthread | Parent | Comments top

maybe because we are all screwed?

I'd say the energy peak message has not quite arrived.

When the shelves of food go blank - then you will see reaction.

Comments can no longer be added to this story.

353 comments on The Expected Economic Impact of an Energy Downturn

Comments can no longer be added to this story.

| Show without comments | PDF version