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27 comments on Is this the Economic stage of the Peak?

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jkissing on November 22, 2005 - 10:18pm Permalink | Subthread | Parent | Comments top
The real point is that we consume more than we produce. The higher consumption means we import more of everything - certainly including oil, without which we could not power the cars we import from Japan. If we did live within our means, and imported no more than we exported, we would significantly reduce world demand for many commodities.

How long the world will continue financing this binge is another question. It is not really in Japan and China's best interest for their people to fabricate and send us their best stuff, but their governments don't have the political will to reform their economies, which would throw many of those currently making things for us into the street, so the situation will go - for a while.

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Fernando on November 23, 2005 - 4:19pm Permalink | Subthread | Parent | Comments top
Maybe.

For instance, here in Buenos Aires, I can have lunch at McDonalds, drink Pepsi, watch WB/Hallmark/HBO/ESPN/etc. on TV, pay with VISA, etc.

You can see the same thing in almost every nation on earth.

Where do all the royalties go? To the USA.

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