thanks. i would think the subprime will be the last to go---as they have clients ( many more should your scenerio play out) than traditional lenders. subprime offers much more flexiblity and can lend in cirucmstances traditional can not, thereby still making loans( and selling them worldwide into thriving economies) long after your local bank gives it up. give me some names, i'll take a look. surf
You accidentally brought up another worrisome resource. (by the way, let's notice the lack of real argument) Future wars will be (they already are) about diminishing resources like crude oil, water. So maybe oil will stay cheaper than water...
same sources here, EIA funnily enough... seen this report? http://www.eia.doe.gov/oiaf/ieo/oil.html "It is important to note what this approach did and did not assume. A business-as-usual oil market environment was assumed. Disruptions in oil supply for any reason (war, terror, weather, geopolitics) were not assumed. It was assumed that all non-OPEC oil projects that show a favorable rate of return on investment would be funded. For the period out to 2030, there is sufficient oil to meet worldwide demand. Peaking of world oil production is not anticipated until after 2030. "
What a shame science FACT got in the way of the "Peak Oil" FICTION. Darn those scientists and bathometric geomorphologists that have debunked the "Peak Oil" argument. What was that Find by Chevron, Devon and StatOil? The most important crude find in half a century? And its that light sweet crude to boot! Push the Peak Oil date back some more because Woodside Petroleum here in Australia announced last month that their reserve of the West Australian Coast could make it the second largest producer in the world. Push that Peak Oil date back further keep pushin'!
Key word there, "could". And at what price did they claim they could, or would recover this resource, to make it viable on the market-for them?