SHOOT: Below is a graph representing the incredible bull market of the past almost 5 years. Note the peak area has 2-3 deep chasms before the collapse, and that the growth phase preceding is fairly consistent. These chasms were caused by high energy prices, with the late 2008 collapse caused by $147 oil. What can we expect from the future. A gradual stasis at these levels, rising slightly perhaps before collapsing to a lower level. This step down process will be repeated in what will become more obvious as permanent decline, permanent economic contraction. This is the consequence of finite fossil energy resources. We are foolish to expect anything else.
clipped from www.businessday.co.za
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