The Real Economic Crisis Everyone Missed: Part I

"In July of 2008, the global economy shut down.  That was the great economic earthquake that signaled the beginning of the end of the fossil fuel era.  The collapse of the financial markets sixty days later was the aftershock.


Most heads of state, business leaders, and economists have yet to fathom the real cause of the economic meltdown that has shaken the world.  They continue to believe that the credit bubble and government debt are unrelated to the price of oil, not understanding that they are intimately tied to the waning of the oil age."


From The Third Industrial Revolution by Jeremy Rifkin