Now we know that I would have been wrong. What is happening in the U.S. is no different from what took place in Thailand in 1997 or in Argentina in 1999, with the entire financial sector going belly-up. The only thing that remains to be seen is whether the costs to the real econom...
Rising unemployment.We know thatnearly all of the increased employment since 2008 in the US took place in states with shale oil and gas production. As these programs are cut back, US employment is likely to fall. The UK and Norway are likely to experience drops in employment related to oil...
The side effects of this are horrific: we have unemployed people (and hey, suck what I don’t have if you’re going to tell me that it’s just because people don’t want to work because: a) many people still can’t work since the schools STILL aren’t meeting in person (Someone ...