A "must listen" webcast....

Please, please take the time to listen to this internet broadcast from the FinancialSense website. Everyone is so preoccupied with the paper losses in the Stock Markets,
but an even more ominous storm is coming, and as usual our politicians are flat footed...

http://www.netcastdaily.com/broadcast/fsn2008-1213-2.mp3

This is the mp3 version...

http://www.netcastdaily.com/broadcast/fsn2008-1213-2.asx

This is the Windows Media version...

Basically it's about energy. the IEA is admitting that world oil fields are now declining over 6.7% a year. This is a recent development, obscured by paper manipulation of Oil prices.. To counter this problem it will require the discovery of a Saudi Arabia every two years just to stay flat...

Hard to believe with oil crashing to $40 bucks a barrel, that high oil prices are coming back, but they are, and in the not to distant future, there will be shortages...

So the world economy is going to have the double whammy of economic deflation even as we discover we have rapidly depleting energy resources. To address that second problem depends on lots of capital, which is and will be in very short supply...