Similarly, the public investments going into "shovel-ready" highway
projects, although the fiscal outlays are more transparently based on
money that doesn't really exist.
The public, as well as leaders all
across society, serenely believe that the Happy Motoring matrix will
find a way to go on forever, and that therefore we must make provision
for it, not to mention the beneficial side of effect of "job creation"
for all the additional workers.
Yet the dynamic at work must be obvious:
oil will never be cheap again; it will impair future capital formation;
there will be far fewer car loans; there will dwindling public funds to
maintain the roads; and there is no practical substitute for gasoline
that scales to the existing system, nor any prospect of one within a
time frame that makes sense -- not to mention the gigantic background
problem of pouring evermore carbon into the sky.
From www.peakprosperity.com - 15 Oct 2013.
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