A great article, much of which I agree with as I do with the thoughtful comments submitted by other readers.

I would only add that so much of what is needed to revert to a balanced and worthwhile economy is reliant on political consistency and courage to make the right decisions. The majority of voters would not accept the pain and "lower standard of living" required to reach this end, so I feel it won't happen any time soon.

You only have to look at what is happening overseas to see the reaction of workers rioting and marching in the streets when governments try and administer some restraint on spending.

It is a kind of NIMBY attitude. No one will make the sacrifice, so I think we are in for some "interesting times" with more pain to come.
Everyone thinks that he/she is entitled and that someone else will pay. Most consider that the government should tax other people and that they should be the beneficiaries. Consequently it is political suicide to try and do the right thing. To a degree, Arnold Schwarzenegger tried in California and has failed with his popularity plummeting.

People like Formersnag are in the doldrums, new world order. Everybody would come to different conclusions. All that rubbish on u tube has religious undertones and can be taken with a pinch of salt, maybe it would be more believable.
Like the spacemen never went to the moon theory.

http://forum.onlineopinion.com.au/thread.asp?article=11436#194756

thinkabit, most economists don't argue from a left or right wing perspective. They pretend to.

The radical, extreme, loony left wing-nut, ruling elites, work with, the radical, extreme, raving right wing-nut, ruling elites, to steal "Robin Hood" style from the blue collar, working classes , the white collar middle classes, even the rich & give the loot to the worlds filthy, stinking, super rich, international banksters & aristocracy.

The Rothschild family owns 50% of the world's wealth, throw in some of the others like Bill Gates, the Saudi royal family & 1% of the population owns 99% of the worlds wealth, but that is not enough.

They want 100% of it ALL.

http://forum.onlineopinion.com.au/thread.asp?article=11436#194761

snake, i respectfully disagree that the NIMBY perception in the community is, that bad.

http://forum.onlineopinion.com.au/thread.asp?article=11436#194763

579, Poor fellow, i pity you, "religious undertones" & that is somehow worse than a Communist undertone, or the "Spinganda" from the Communist Spinster, Dillard.

Left wing politics is the yoke of the worker's, own, Oppression.

"Like the spacemen never went to the moon theory".

Much of that stuff on YouTube is like the Apollo missions & 9/11, live footage of a David De Rothschild public, forum, speech, or well publicised "in the media", historical quotes. If you don't believe what's on the Internet then check the referenced books at the library for yourself.

What part of, well documented, scientifically proven, facts & evidence don't you understand?

Try these, really easy, simple ones, again.

http://video.google.com/videoplay?docid=8630135369495797236#

http://www.crikey.com.au/2010/08/25/greensvoters/

http://en.wikipedia.org/wiki/Useful_idiot

http://books.google.com.au/books?id=5vajlNhSzWYC&printsec=frontcover&dq=mark+aarons+the+family+file&source=bl&ots=_JqnT4mkHv&sig=23tiin36Jjg84b7-Ttuxxp7L3gI&hl=en&ei=jKD0TOiQD8fzcfH_mMcE&sa=X&oi=book_result&ct=result&resnum=8&ved=0CD0Q6AEwBw#v=onepage&q&f=false

http://www.theaustralian.com.au/news/opinion/the-covert-comrades-in-the-alp/story-e6frg6zo-1225887087909

http://www.smh.com.au/opinion/politics/radical-roots-seep-through-at-the-heart-of-greens-20100726-10sj0.html?skin=text-only

http://www.youtube.com/watch?v=zeMZGGQ0ERk&feature=player_embedded#!

http://www.youtube.com/watch?v=-RgeOIFG8KI&feature=related

http://www.youtube.com/watch?v=mtudNpL30BU&NR=1

If only the ETS, Economic Treason Scamers had access to a totalitarian, 1 party, world government, then they could force a "price on carbon", on all of us, in the middle, you know, 90% to 99% of the population, or don't you get, how unpopular Communism is, in Australia, either.

Sorry chap but you only have one eye. A mix of both capitalism and communism is a good mix. When you only see one side you have nothing to compare. So we are not aloud to have guns, without special permit, is that communism, or just plain sense.
We elect govt; to govern, so hold your tongue till it is time to vote again.
Blokes like you would have a standing vote.

http://forum.onlineopinion.com.au/thread.asp?article=11436#194827

579, sorry chap, but i have been "viewing" the radical, extreme, loony left wing-nut, bias of news, current affairs & docos on the gaybc & sbs for years, then "reading" the radical, extreme, raving right wing-nut, bias of the Australian, which gave me & millions of others, the balanced, centrist, "view" that both sides have been telling deliberate, premeditated, lies, about almost everything for about half a century now.

This knowledge has also been balanced by talking to Russians who were in the USSR between 1917 & when Stalin took over, as well as research on the net, books, etc, a broad, both eyes, wide open view.

While you, are a stooge for the "Inter", National Socialists.

"A mix of both capitalism & communism is a good mix", in theory, you would be correct, but you also just gave a perfect description of the way the "Land of OZ" was, between 1945 & 1972, before Comrades Whitlam, Hawke & Keating from the Closet Communist GAYLP destroyed it.

Now we are a "Coca Cola, Communist" state, a radical, extreme, raving right wing-nut, free enterprise, globalised, free trade, quarry, exporting only raw materials to our new colonial masters in China, among others, while importing cheap trinkets for the consumers.

Do you think the CFMEU want casual, "guest workers" on the mines in far northern WA or NT? A "regional processing centre" in Timor would be less than, half the distance from Perth for "fly in, fly out", wouldn't it?

http://www.reuters.com/article/idUSTRE7023S220110103

Everywhere i have seen this article, it is accompanied by comments like, "NIIIICE".

http://www.youtube.com/watch?v=fTahZE4q90U&feature=player_embedded

http://www.youtube.com/watch?v=Ki4cqqMZ7JE&feature=player_embedded#!

Secular.

http://www.dailytelegraph.com.au/news/opinion/do-not-feel-afraid-gaia-is-with-us/story-e6frezz0-1225980594646

Religion.

http://www.youtube.com/watch?v=hwyjsJJrr2I&feature=player_embedded

http://news.ninemsn.com.au/world/8192780/weathergirl-admits-rape-story-was-a-lie

Truth.

Have you heard of "the friends of truth" BTW?

We elect "public servants" to "hear our grievances" between elections & solve our/the nation's problems, not create them.

Thanks for a well put together article.
An oil price of $100 seems certain now that OPEC has announced that
they consider $100 a fair price. Previously they said $70 was fair, hmmm.

Debt is undoubtable going to make the energy crunch much worse.
The US has until March to decide if they will increase their
borrowing or just stop.
Unfortunately it means that default on their repayments and interest
will be certain.
The Republicans seem to be determined to take the latter course.
If that happens put your money under the matteress. Or buy gold !
A default on US Treasury bonds will mean a world wide financial crash.
Lullabies;
The politicians in all countries have formed an unspoken
agreement not to mention peak oil publically.
Robert Hirsch (of Hirsch report fame) said just a few days ago in a
radio interview that after the US government reviewed his report said
that he was not to conduct further studies into the subject.
However he was a contractor not an employee.
The US Dept of Energy obeyed the government directive and did not
publicise the report, but did put it on their web site where it was
discovered by a Californian high school class.

An example is Martin Ferguson. He has spoken on the Peak Oil problem,
but since becoming minister has been totally silent.
The British Government has recently become twitchy on the subject and
has instituted a non public internal enquiry.

The politicians cannot see a problem before the next election so it
is a non event.
However the British government has five years to go so it will land
on them.

The real question some are trying to answer is will there be a gradual descent to a
lower standard of living or will, like other complex systems undergo rapid collapse ?