The Next Great Depression

[TexanBlood]

Supposed to happen in 2030 according to some researchers from MIT.

http://news.yahoo.com/blogs/sideshow...190352944.html

[GammaEta67]

Originally Posted by TexanBlood

Supposed to happen in 2030 according to some researchers from MIT.

http://news.yahoo.com/blogs/sideshow...190352944.html

Interesting and probably quite accurate, given current trajectories; but not necessarily unavoidable. The keys to a productive and prosperous earth in the 21st century are energy and fresh water. With enough of those, we can solve all the other problems, including food, clothing, and shelter for the 10 billion people we can expect to be living on the earth during that time.

Former Rice University Professor and Nobel Laureate (nanotechnology), Richard Smalley, summarized our challenges quite nicely in 2003. According to Professor Smalley, it all boils down to having enough energy. With enough energy, we can desalinate all the water we need, and the rest is easy.

http://video.google.com/videoplay?do...83210008435127

But I think it is fair to say that we will see many abrupt changes along the way.

[texhorns98]

If you've ever seen the movie "In Time"...

[TrueLonghornFan]

Originally Posted by texhorns98

If you've ever seen the movie "In Time"...

....or Waterworld.....

[Shane2]

Originally Posted by TexanBlood

Supposed to happen in 2030 according to some researchers from MIT.

http://news.yahoo.com/blogs/sideshow...190352944.html

2030? With the way Obama is spending money, it could happen a lot sooner.

[editionshield]

By "Next," I guess you mean the one after the one in 2008.....

[GammaEta67]

Originally Posted by editionshield

By "Next," I guess you mean the one after the one in 2008.....

No, he means like the global meltdown we had in the 1930s that eventually led to WWII. The recession in 2008 was a serious hiccup that revealed systemic weaknesses that have not been resolved, but it was not even close to the collapse we suffered in the 30s. The economy Obama inherited in 2008 was like a terminal patient that has been kept alive and even returned to a semblance of vitality by massive transfusions of borrowed money. The "recovery" we are experiencing now is more illusory than real. Our educational system is worse than any industrialized nation, and we have been steadily loosing jobs to overseas competitors for the last forty years. We've gone from the number one manufacturing nation in the world, to the number one service nation in the world. But services are very difficult to export on the world market. Unless we find a way to reverse the trade deficits and budget deficits, we will not be able to save the patient indefinitely. Sooner or later there will be no more money or credit for transfusions. What is needed is a fundamental revitalization of the American economy and an all out national commitment to global competitiveness in the 21st Century. Otherwise, the "next" great depression will make the one in the 1930s look like a tea party.

[OldestHorn]

Originally Posted by TexanBlood

Supposed to happen in 2030 according to some researchers from MIT.

http://news.yahoo.com/blogs/sideshow...190352944.html

That's right, these guys predicted the sub-prime crisis back in 1988.