I’ll just suppose that, in your orbit, footnotes are tres` pedantic, no?

or, should I understand that all of Life’s great lessons are embodied w/in flickering images?
~~

“A renaissance in local manufacturing and a big movement towards local production models are part of a solution that is financially and environmentally sustainable. “–franklin411

we should remember that it is Local Finance, first, and foremost, that assisted our previous Economy– based on local mfg., et al..

shipping funds out of the County, cross-Country, or trans-Nationally, does little to irrigate the, nearby, fields of employ.

Avl, above, makes a fine point. the restructuring of our Economy, ~’73-’82, was a grand misdirection, a plot scarcely understood by many of its Actors, and ‘un-understandable’ by many that paid the price, of admission, to see it. While hailed, in retrospect, as a Critical Failure, it was, file under: Ripley’s, a Box Office smash for its Producers..If only ‘the Academy’ would give an Oscar to those chaps, we’d be that much further along.

The ratio of house prices to rent is a bit skewed because rents are so low because of the supply and demand for rental real estate. I have never thought this to be a valuable metric as it assumes everybody can go out and get a loan for a home.

The second graph omits mortgage rates which has a significant impact on affordability. Right now, housing affordability is actually the highest on record for the 3.5 decades that the NAR has been tracknig the data.

With all of that being said, home values are indeed going to continue to plummet based on the ongoing supply and demand imbalance for real estate. The month’s supply of housing is the metric that you want to be following.

@ franklin411 2/21 at 10:27 am
Good points. A renaissance in local manufacturing and a big movement towards local production models are part of a solution that is financially and environmentally sustainable. Re-unionizing will be tricky, and it alone wont put a solid floor under wages as long as our GDP has a strong import component tied to lower-wage overseas exporters. If capital markets do NOT emerge from this global crisis resembling their former selves, perhaps the needed local manufacturers that do emerge can use a worker-owned ownership model. Big IF there on capital markets.

A 25-yr commitment to anything is extremely unlikely if the current economic crisis brings a repeat of the last structural economic upheaval of 1973-1982 when the US kicked mfg to the curb and embraced a Service based economy with debt-fueled consumer spending driving 70% of GDP. 1973-1982 saw us cycle thru 4 Presidents. To bad people assume economic crisis only yield electoral stability ala Roosevelt’s 4 wins in the 30s & 40s.

I hear you about Duncan Clarke, it’s part of the reason I posted that inkblot, though I find curious that “Big Oil” gets blamed for supporting the, supposedly wrong, case of ‘no GW’, and, also, here, at least, blamed for supporting the ‘no peak oil’ case..

though, this: “Of course that is only a FRACTION of the data I am basing my posts on. I got very very busy studying this in depth, getting on the ‘internets’ for the first time and then buying a computer etc., from the very day I finished Mr. Simmons book in Aug. 2005, which was actually purchased by the librarian in my town’s teensy weensy 300 sq. ft. library based on it being on the top ten Amazon list and the FIRST part of it’s title. “Twilight in the Desert’. The librarian thought she was buying a romance novel for her almost exclusively female clientele. I happened in the day after it arrived, GRABBED it, and read it through with one 4 hour sleep break.” certainly, recommends your spirit of inquiry..which, especially on this topic, is Paramount, in order to wade through the tremendous volumes of information found–pro and con..

here’s another snippet:

““Supply crunch” is not peak oil – IEA
Posted on Wednesday, November 7th, 2007
There is no contradiction between the International Energy Agency’s forecast of long term oil supply growth to 2030 and a “supply crunch” by 2015, according to its chief economist Fatih Birol. Mr Birol insisted today that the short term crisis would not be caused by a fundamental shortage of oil but by entirely man-made factors.

Speaking at the launch of the IEA’s latest World Energy Outlook in London, Mr Birol reiterated both the Agency’s long term forecast that oil production will reach 116 million barrels per day in 2030 – up from around 86 mb/d today – and the evidence that supply will fail to to meet demand much sooner. The IEA’s reference case demand forecast requires an additional 37.5 mb/d in gross production capacity by the middle of the next decade, but new projects announced so far by oil companies will add only 25 mb/d, leaving a shortfall of 12.5 mb/d.

In answer to a question from lastoilshock.com, Mr Birol denied there was any contradiction between the two predictions, because any short-term crisis would be solely due to above-ground factors: “What we are saying is we could have a supply crunch to 2015 if we do not see enough investments coming to the markets, if we do not see production growing at a level to compensate the declines and meet the demand, and if the oil demand growth is not dampened in the OECD countries, China and India.”
http://www.davidstrahan.com/blog/?p=73
http://www.icerocket.com/search?tab=web&lng=&q=not+peak+oil

also, “peak oil hoax” makes for an interesting input to your fave i-net searcher..