The Oil Drum

197 comments on DrumBeat: March 29, 2008

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Spaceman on March 29, 2008 - 11:16am

An addendum to the ELM should factor in the rate exports to the U.S. fall when no one accepts our currency anymore.

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xeroid on March 29, 2008 - 11:51am

the ELM should factor in the rate exports to the U.S. fall when no one accepts our currency anymore.

There are several adverse effects originating in Import Land that need to be considered.

Also the ELM should factor in the implications of the 'net energy' of energy alternatives produced in the Import Land.

'Plain Vanilla' ELM is bad enough, with the add-ons 'Net Exports' decline rate can be expected to be somewhat worse!

There's likely to be several 'Liebig minimums' we haven't even considered - yet.

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hardhat on March 29, 2008 - 2:20pm

Although "they" may not accept our currency, they will likely demand payment in grain.

I would if I was "them". In a heartbeat.

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ImSceptical on March 29, 2008 - 3:54pm

hardhast, you're forgetting that your [USA's] excess grains will be used to produce a trickle of biofuels!

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“Of all races in an advanced stage of civilization, the American is the least accessible to long views… Always and everywhere in a hurry to get rich, he does not give a thought to remote consequences; he sees only present advantages… He does not remember, he does not feel, he lives in a materialist dream.”

—Moiseide Ostrogorski (1902, 302-303)