We know - we have for quite some time - US national debt is going North.
(It will surpass $15 Trillion this year).
We know Canadian debt is going North.
(It will surpass $600 Billion this year).
We know personal debt is going North.
(Canadian per capita debt is now at $150 per $100 income for the first time).
All these things we know.
What we don’t know - this strikes me funny - is what to do about it.
We know the days of $15 oil (price per barrel), as in the early 1980s, are over.
We know oil prices have increased four-fold in the last ten years alone.
We know global oil consumption has grown steadily since 1984.
We know global oil consumption, as from 1996 - 2006, cannot be sustained.
1996 - 71,669,000 barrels, a 2.19% rise over 1995
2006 - 84,977,000 barrels, a 1.16% rise over 2005
(Source: United States Energy Information Administration)
We know the oil bubble will burst, that it may have an unstoppable leak already.
These things we know.
What we don’t know - and this also strikes me funny - is what to do about it.
I’d recommend, just off the top of my head, long distance training.
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Please click here to read a series related to US debt.
How exciting is that!
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