It would be easy to hope that this downturn represents the final capitulation of the Bush years, and that once we work away the excess, that there will be a new age after it. However, this is not what the numbers indicate. While selling self-spin and hope may be the province of those who hope to curry favor with the powers that be, or with masses of people desperate to believe that this is as bad as it will get, hard slabs of reality are my stock and trade.
Let me introduce you to post-petroleum thesis.
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