Friday, January 13, 2012

Nigeria revolt shows fragility of oil-based western economies

Goldman Sachs Sees Increasing Risk of Rising 2012 Oil Prices - Businessweek: "Nigerian labor unions said they will continue a strike that threatens oil exports from Africa’s top producer because no agreement has been reached yet with President Goodluck Jonathan on restoring fuel subsidies."
The US/UK/Japan bank empire keeps printing money, and keeps collapsing. At some point in the de-leveraging, some part of the imaginary wealth has to be backed by real production. The problem is, most of the "production" is just a billion wasteful consumer products [autos] and inefficient sprawl that depend on fossil-fuels. A million more soldiers could not unscramble this egg. The collapse will continue until enough people rise up and do something about it.

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