The End of Globalization

Our friend Jeff Rubin explains why the global economy is coming to an end.  He is an establishment person, having been chief economist for Canada’s largest bank.  Now he clearly sees the effects of peak oil as a transport fuel on the current economic system.  I don’t think he goes into the logical conclusions that peak oil demands.   He hints at the importance of getting used to running an economy with a lot less oil.   But that has never happened.   Instead, our economy is completely based on increasing  amounts of cheap energy.   We need to be talking about the economy that results from the opposite:  decreasing amounts of expensive energy.

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