The Oil Crash and Social Security
One has to wonder how much the flim-flam being put out by the Bush administration over Social Security is affected by Peak Oil considerations. Surely they have to know that the budget numbers they are projecting are bogus, because no one can really predict how the upcoming oil crash will affect the US and world economies. Most likely they are putting out numbers that sound somewhat rational, purely for domestic consideration and for sales purposes.
We are fairly sure the Bush administration is cognizant of Peak Oil and what the next ten years will look like as oil supplies dwindle in the face of increasing global demand. The powers that be undoubtedly have several wars planned over the next decade to deal with this crisis.
Actually, with the incessant talk from the Bush administration that the Social Security system is in crisis, in the face of the fact that most economists think the system is projected to do fine for the next forty years or so, I wonder if the Bush admin. talk of crisis is some sort of code for the upcoming oil crisis.
Certainly, the Bush administration suggests that in the absence of a fix, Social Security will not be there for people who are now twenty and younger-- in other words, forty years from now. But given the looming global oil crisis, the point may be more that US society may not exist in a functional state in forty years-- and certainly not in a state to give out social security benfits.
(I have to say at this point, usually I do not buy into doomsday theories. And the Peak Oil crisis is certainly a huge doomsday theory. This is one reason I have been skeptical to embrace the Peak Oil crisis theory. But it seems that overall, the evidence is fairly strong that future oil supplies are limited, the world population is huge and demand for oil is increasing in developing nations. Something HAS to give, and sadly enough, the developing nations will be most likely to give first. But eventually dwindling oil supplies have to strongly affect the US economy, and not in a good way.)
Thus, what is the Bush admin. doing with Social Security? As far as I can figure, they are TRYING to sow the seeds of its destruction with their privatization scheme, and meanwhile also enrich the pockets of Wall Street.
The Bush admin. probably won't get away with it, but that certainly doesn't mean the future of Social Security is guaranteed, since the future of US society is rather precarious.
But, what are you gonna do?
One suggestion: work on creating a novel energy technology.
We are fairly sure the Bush administration is cognizant of Peak Oil and what the next ten years will look like as oil supplies dwindle in the face of increasing global demand. The powers that be undoubtedly have several wars planned over the next decade to deal with this crisis.
Actually, with the incessant talk from the Bush administration that the Social Security system is in crisis, in the face of the fact that most economists think the system is projected to do fine for the next forty years or so, I wonder if the Bush admin. talk of crisis is some sort of code for the upcoming oil crisis.
Certainly, the Bush administration suggests that in the absence of a fix, Social Security will not be there for people who are now twenty and younger-- in other words, forty years from now. But given the looming global oil crisis, the point may be more that US society may not exist in a functional state in forty years-- and certainly not in a state to give out social security benfits.
(I have to say at this point, usually I do not buy into doomsday theories. And the Peak Oil crisis is certainly a huge doomsday theory. This is one reason I have been skeptical to embrace the Peak Oil crisis theory. But it seems that overall, the evidence is fairly strong that future oil supplies are limited, the world population is huge and demand for oil is increasing in developing nations. Something HAS to give, and sadly enough, the developing nations will be most likely to give first. But eventually dwindling oil supplies have to strongly affect the US economy, and not in a good way.)
Thus, what is the Bush admin. doing with Social Security? As far as I can figure, they are TRYING to sow the seeds of its destruction with their privatization scheme, and meanwhile also enrich the pockets of Wall Street.
The Bush admin. probably won't get away with it, but that certainly doesn't mean the future of Social Security is guaranteed, since the future of US society is rather precarious.
But, what are you gonna do?
One suggestion: work on creating a novel energy technology.
posted by spooked at 10:52 AM
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