goodbye world economy, page-7

Good to get some feedback gang. We throw peak oil into the picture and the world economy as we know it, I believe, will change.
In terms of oil we are about to see oil rattle its peak and head towards $100. This will have substantial specific inflationary effect which will in turn drive the demand for oil down giving us a breather till 2009. Then the full effect of a changing world economy will swing into effect.
Yes, I agree with comments about China, however, I see China's economy based primarily on our oil based industialism, yet, they are best placed to lead us onwards towards 2050.
If I can leave this with the statement, my cost of living, esp food, is going to hike 30% within 18 months.