Monday, October 27, 2008

The Housing Bubble and the Energy Bubble - how they're related

Energy is what what runs suburbia, and suburbia is the 'greatest misallocation of resources in the history of the world'. You may not know what that means today, but there will be plenty of time to figure it out.
clipped from

The long forgotten 'oil crisis' of just a few months ago has been replaced by a full blown 'credit crisis' - related events that represent the unravelling of half a century of unsustainable trends in oil consumption and debt. These two ingredients have been used in a special 'compound growth formula' to finance the construction of suburbia and fuel the (un)happy residents on their long journey to work and home again via the shopping mall, so they could spend more than their earnings on stuff to put beside the TV and inside the microwave oven.

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