oil out & bison bank bust

OIL OUT & BISON BANK BUST
Attention, trolls! Please stop picking each others nits and listen up. If you were to stroll on over to http://americanenergycrisis.blogspot.com/ you will discover a highly paid professional in the finance industry that factors energy into his economic forecasts. I point this out so I hear absolutely no grumbling about how I don't know what I'm talking about. I might not know what I'm talking about, which I'm sure you can prove since I don't drive my SUV to the shrine of semi-automatics before I go to the bank and pay my McMansion mortgage, but at least in this one case I can point out that professionals agree with my intensely paranoid viewpoint. Namely, we are all going to freeze in the dark as we starve to death. Okay, I don't think the author over there is going to go that far, but he should. In any case, he has pointed out we are headed down economically and won't recover, namely because of decreasing oil supplies. This is a great site, and I've swiped many an idea from it.
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His last article talks about the chicken and egg question of what came first, oil problems or the economic crash. His conclusion is that the decline in oil came first, since our imports starting going downhill before the housing bubble burst. In two years we've gone from 14 million barrels a day to 12 of imports. Even during the huge price increases. Which we will see again, by the way. Obviously. Or is it obvious, as no one seems to be factoring in the inevitable soon to come oil supply disruption. The Oil Age is over and you had better start thinking as petroleum as a soon to disappear commodity. Not that we will run out, but tar sands and miles deep wells are not economic to exploit ( nor are they a satisfactory return of energy ). The Age Of Cheap And Abundant Oil is definitely over. And our economy is 100% dependant on cheap and abundant energy and continual growth. We now have neither. Even if we don't enter a Post Oil Dark Ages, which I'm going to assume as a matter of course, our economy is guaranteed to continually contract. You might think a fifteen percent decline in imports is not a major deal, but to me it screams out the American Death March.
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If your economy is all about cheap oil and you need continued growth to pay for the debt that we have piled on to make up for the last thirty years of decreasing real wages and decrease in taxes, how can you assume we will recover without more oil and more growth? There are no more rabbits to pull out of a hat to save us. Perhaps to keep the Titanic afloat for a little while longer, but not to turn things around. Don't make me keep harping on this, because you know I will. Everyone, sell your extra cars, drive the car you are making payments on down to the bank and hand them the keys, buy a bicycle and after buying a bunch of grain send me the difference. Trust me, I'll put it to better use than the bank or Detroit.
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As some of you have already heard, Great Basin Bank was one of the two that got closed down Friday night. This was a local bank, having two branches in Elko, two in Spring Creek ( ten miles away ) and one ( I think ) in Fallon a few hundred miles south. And as you may have also heard, Elko is doing much better than the rest of Nevada and most other parts of the country. It's probably one of the last non rich enclaves to hold out in its real estate values. I knew it would do well because of the gold mines ( third largest producer globally, I believe ) but I had no idea it would hold out so well. Just don't think you can move here and get a good paying job without prior mine experience. With all the other mines around closing, they can pick and choose and won't hire a novice. And when you do move here, if you move into town, the cost of living has not gone down. Anyway, it came as a bit of a surprise when I found out they got closed down. This is the bank my work uses, thus where I go to cash my check. I don't keep my money there other than about ten bucks. I use B of A for that ( not that they are much safer, but at least they will fail last- I hope ). Not to worry, another Nevada bank is taking over the accounts so my ten bucks is safe, which is a good thing since I'm not getting that twenty bucks I was promised for the African Trailer Park pictures, you tight lying bastards! Haven't got my Ho money either. Not that I'm too concerned with that, I would never pay those kinds of prices so if you did send it I would just buy books or corn.
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Any bank can fail anywhere. That's the magic of derivatives gambling. But it does sort of underline how we are all going to die a horrible and elongated death. Until then, buy my crap at www.bisonpress.com .
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