Brutal Recession Destroyed Americans' Wealth, Net Worth Down 40% In 3 Years (Forbes)

[NickB79]

12. I have a different take on it

The Great Recession showed me that our economy is NOT equipped to manage a greater level of economic activity because as the economy fired up, so did energy and food prices. $140/barrel oil prices, rising electricity rates and huge jumps in food prices all had major impacts on the economy, with some economists citing them as key triggers that helped push us over the edge. When the economy crashed, so did the prices on these commodities. And, as the economy slowly picked up steam again, they spiked a second time. Now, we're seeing ANOTHER drop in global commodities like oil as the economy sours.

This was all predicted by those people who think we're reached the limit to growth due to overpopulation and overconsumption of natural resources. Peak Oil proponents say we've hit the limits of easy oil, and those concerned with global warming say we've hit limits of cheap food due to changing weather. I tend to agree with them. I don't think we can maintain our current system as it is, no matter how we reform our banking system. The issue lies far deeper than that, in the very way we view economic activity as demanding never-ending growth in a world of finite resources.