|
Edited on Wed Feb-13-08 10:44 AM by El Pinko
Vote on world's next megabubble 'Peak Oil' vs. 'alternative energy' vs. 9 billion people in 2050 spells war By Paul B. Farrell, MarketWatch Last update: 11:00 a.m. EST Feb. 12, 2008
ARROYO GRANDE, Calif. (MarketWatch) -- Hollywood tag lines fit Exxon Mobil's $40 billion profit as well as the movies: "There will be Blood. There will be Greed. There will be Vengeance." Our "war of civilizations" is not of theologies but a primal battle to control basic resources essential to survival. Yes, there is blood ... and oil ... and greed ... and vengeance ... and wars for survival. At the highest level, this war's being waged in the elite towers of Wall Street and London and Dubai and Singapore: Quants in Turnbull & Asher shirts trading commodity derivatives, gunning for megabonuses, soaring high, like stealth bombers detached from the bloody fighting 40,000 feet below. That's also how Eric Janszen's radar reads the world in Harpers Magazine's "The Next Bubble." Inside a thought-bubble common on Wall Street, he invents a new economic theory from the simple observation "that the Internet and the housing hyperinflations transpired within a period of 10 years." Get it? Two bubbles, 10 years apart: An anomaly, yet suddenly we have a bizarre new economic theory: "There will and must be many more such booms, for without them the United States can no longer function. The bubble cycle has replaced the business cycle."
|