At Nature Bats Last, a discussion of friendship and the ramifications of Peak Oil. I also drifted out of contact with long time friends due to burying myself in books over the past three years. With gasoline now over $4 per gallon, I am also getting phone calls from long lost acquaintances. No one is laughing now.
“In a normal recession, things kind of collapse and get so weak that you have nowhere to go but up. But we’re not getting the classic two or three negative quarters. Instead, we’re expecting two years of sub-par growth. Growth that’s not enough to generate jobs. It’s kind of a chronic rather than an acute pain.”
In related news, my garden is flourishing. I now have more squash and corn than I know what to do with. I’m practically giving away the stuff. I wonder what the local economy will be like four or five years down the road when gasoline becomes unaffordable.