The world's financial markets are in great turmoil. How do we deal with all of this? Let me tell you my view. Yours may differ.
For those of us who are peak oil aware, we know that the world is finite, so the period of continued compound growth cannot continue. Because of this, we have known that eventually we would start seeing turmoil in financial markets. It should be clear that putting our faith in these markets is crazy, even if this is what financial planners have told us to do. If we have already divorced ourselves from this faith, we are ahead of the game.
Looking at the situation from a historical perspective, we have been privileged to live in the world at a very unusual time--a time when oil was in abundance, and we were able to have conveniences that people a few generations ago wouldn't even have dreamed of. We know that this must come to an end, and that gradually we will get back to a world more like it has been over the millions of years that people have walked the earth.
Peacenik thinks Gail the Actuary has some good advice in this post from the Oil Drum. The bottom line is that we still have to live our lives regardless of the economic circumstances. Peacenik is all in favour of a civil society, and helping neighbours and the less fortunate. Peacenik hopes that the financial doom and gloom will not be as bad as it seems it might be. Peacenik senses a bottom in the market might be near. Oh my god, Peacenik has turned into Larry Kudlow.
