Doub.....TRIPLE dip recession

[Tarrel]

We're not in a depression, we're at the End Of Growth. This is it for keeps folks, better get used to it. Peak Oil has changed the whole economics of energy production.

In the past, a problem with oil supply (e.g. conflict in a producing region) could be compensated for by turning up the taps elsewhere. Not any longer; there isn't the slack in the system. Most of the "new" oil production, such as shale and deep water, only makes commercial sense if the price is kept high, which naturally puts a lid on economic growth. We have a choice of chronically high prices, or having the taps turned off as companies withdraw from producing the high-risk, expensive stuff or go out of business. Add the burgeoning demand from the new economies such as China, and that puts further upward pressure on energy prices.

Add in the increasingly large proportion of GDP we are going to need to commit to either preventing, or dealing with the effects of, extreme climate events (which is essentially spending resources to stand still), and that further reduces the opportunity for the economy to grow.

Then there's debt of course...

No, this isn't a "double dip", "triple dip", depression or any other form of aberration. This is the new normal.

The question is; how to organise one's life to survive (and hopefully thrive) in it.