re: When economic growth resumes across the globe, demand for oil will surge once again.

This assumes that we're in some sort of normal economic downturn that, given time, will magically correct itself and we'll be right back to a lifestyle of high consumption.

A more likely scenario, to me, involes our dollars becoming worthless, in which case oil -- and everything else -- will skyrocket in price.

Since you've indicated a willingness to listen to Peter Schiff, you may want to check this out:

The Beginning of the End

Our economy will now face death by hyperinflation, which will cause a complete loss of confidence in the dollar and result in prices and interest rates skyrocketing out of sight...we will be left with a hollowed out manufacturing base, dilapidated infrastructure, no savings, and a gigantic Federal Government that will regulate, spend, borrow and print our economy into ruin.

http://www.newmogul.com/item?id=1002

SEE ALSO:

Is Hyperinflation on the Horizon?

http://seekingalpha.com/article/106059-is-hyperinflation-on-the-horizon

re: Dear Scorpio Pervert

You call me "dear", yet in the same breath call ME a perv? BWAHAHAHA!

re: Mill Valley is a dead giveaway. They are all klueless liberals there

So you dismiss out of hand the statement of the lead federal prosecutor of the Weathermen because of his address? This pretty much sums up right wingers' "thought" process.

re: He wasn't your type, I'm afraid

This is typical of right wing nutcases: Project your own gay fantasies onto someone else.

Pathetic.

And you wonder why you've all been drummed out of office.

Well, Master Yoda, it looks like since the right wing goofballs have been sent packing, they're left to ranting incoherently on Salon.

Better stock up on the ketchup.

:)

I am merely one who reads voraciously and tries to synthesize and distill the thoughts of those much more wise and learned than myself.

I am amazed that many are still in denial about what's happening.

In the last depression, people robbed banks. Now, the banks rob people.

What a crazy mixed up world.

re: I am not threatening anyone.

Intellectually speaking.

On the same page as this debate over bailing out Detroit is an ad for the "All New '09 Ford F-150".

If the government is going to be shelling out billions for Detroit, then why not just buy us all one of their shiny new vehicles? A win-win. They get rid of all of the vehicles that are piling up unsold and we each get a new car/truck.

I'll take one of those '09 Ford F-150's in black, with the upgraded towing and sound system packages, please. And leather seating, of course.

If we're gonna have a depression, let's at least have some fun with it!

I'm a Senator/ I gotta raise $10,000 a day every day I'm in Washington/ I ain't getting it in South Central/ I'm gettin it in Beverly Hills/ So I'm votin for them in the Senate the way they want me to/ and-and-and I'm sending them my bills...

-Sen. Jay Billington Bulworth

http://www.imdb.com/title/tt0118798/

re: Over ninety percent of US manufacturing is related to production for military equipment anyway, not consumer products.

I've got a sinking feeling that as push comes to shove, we're gonna be exporting a few nukes.

Higgins: It's simple economics. Today it's oil, right? In ten or fifteen years, food. Plutonium. Maybe even sooner. Now, what do you think the people are gonna want us to do then?

Joe Turner: Ask them?

Higgins: Not now - then! Ask 'em when they're running out. Ask 'em when there's no heat in their homes and they're cold. Ask 'em when their engines stop. Ask 'em when people who have never known hunger start going hungry. You wanna know something? They won't want us to ask 'em. They'll just want us to get it for 'em!

-from Three Days of the Condor (1975)

http://www.imdb.com/title/tt0073802/

A Sea of Unwanted Imports

Gleaming new Mercedes cars roll one by one out of a huge container ship here and onto a pier. Ordinarily the cars would be loaded on trucks within hours, destined for dealerships around the country. But these are not ordinary times.

http://www.nytimes.com/2008/11/19/business/economy/19ports.html

Toyota to cut output, Nissan downbeat

Reeling from a relentless sales slide, Toyota Motor Corp said on Wednesday it would stop all of its North American factories for two days next month, while rival Nissan Motor Co renewed its pessimism over the industry's near-term prospects.

Tight credit and worries over the spread of recession around the world have battered car sales in all major markets, forcing automakers to cut production to prevent inventories from ballooning further.

http://news.yahoo.com/s/nm/20081119/bs_nm/us_autos_2