| We are now reaching limits of many kinds. Each year, society has various resources available to it, in terms of oil, natural gas, fresh water, soil productivity, many types of minerals, good climate, and people available to work with these resources. With a declining resource base, the median wage, adjusted for inflation, is likely to decline. This decline in median wage means that default rates on loans are likely to increase |
Read the rest of the story HERE:
At www.theoildrum.com
At www.theoildrum.com
