Reply #16: The US and much of the world is in a second "Long Depression"

[FarCenter]

The "Long Depression" was a period of low economic growth, economic crisis and recessions from 1873-1896. It followed the Panic of 1873 and had the effect of reordering the Great Powers as well as a rotation of wealth from one economic sector to another. For example, Great Britain declined relative to Germany and British agriculture suffered due to cheaper agricultural imports from the US, Australia, Argentina, etc, while certain industries like steamship building thrived.

http://en.wikipedia.org/wiki/Long_Depression

The same reorderings of countries and industries are occuring again, also against a backdrop of competition for natural resources and a buildup of population pressures.

In the 1800s the Long Depression gave way to a re-emphasis on the imperial systems, arms buildups, tensions between the Great Powers and then World War I.

In the 2100s, the outbreak of hostilities should be around 2040, probably coinciding with a major exhaustion of fossil energy supplies.