Commentary By Ron Beasley
I used to worry about peak oil but not so much now. The thing that is going to get our civilization first is the 30 plus year old leverage bubble bursting. The tech bubble and and housing bubbles were just sub bubbles of the over all leverage bubble and this is nothing new. Nichole Foss explains at from about 13:00 to 19:00 in the video below.
Foss had a great line at the beginning of the video when she described the politicians. She said they are a crowd who only looks back never forward. It's like pressing the accelerator to the floor and only looking in the rear view mirror - a horrible accident is bound to happen.
It was also interesting that one of the reasons for the dark age was a leverage collapse in 1294 so this is nothing new. It was the the Italian banks then as she points out but she leaves out the Jewish money lenders who for the most part were deported of "disappered".