World's Economy suffering mortal (oil) wound

Energy is what drives economies; cheap, abundant energy. With energy no longer cheap, and half as abundant as it once was, economies can simply not expand. Economies right now, around the world, are simply reflecting the energy available to be pumped into them.

Let's hope human beings take cognisance of this decrease in energy specifically by having fewer children = fewer mouthes to feed, fewer energy users, fewer unemployed, fewer have nots. Think that's gonna happen?

clipped from www.businessday.co.za The European Union is SA’s largest trading partner. Recession or not, Elmeskov said, Britain was stagnating, mainland Europe was “barely crawling” and the US was looking sickly even if it got a midyear lift from interest rate cuts and the state’s pump-priming efforts. The OECD said its forecast models suggested US growth of 0,9% in the third quarter and 0,7% in the final quarter, each time versus the previous one. For Japan, the OECD forecast third-quarter GDP growth of 2,4% and 1,4% in the fourth quarter, for the euro zone 0,4% and 0,8%, for Britain negative 0,3% and negative 0,4%. With Reuters and Bloomberg.