quote:
Originally posted by Cyrien:
... You can look at the numbers and see that exactly one thing and one thing only ended that 80's depression. OIL. ... it isn't just Gasoline. Think of all the ways oil is used and how the prices of all those are affected. Oil for lubrication. Oil based paints. Oil based pLastics. And of course oil fules... Transporting the Goods. ...
Check out
http://www.eia.doe.gov/oiaf/ieo/
I hit the job market in 73. Laid off shortly after during the embargo. It was tough and made me aware of the importance of OIL.
This Last recesion started with higher oil prices. Of course the overblown Internet Tech Rush and other foolish house of cards were the first victims.
Our global economy is built on cheap transportation. Taking advantage of Economy-of-Scale manufacturing and cheap labor. Double the transport costs and maybe we will make shoes all over the US again.
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UPGRADES HAPPEN!!!
Re: OT: Our Economy (US)
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