"Oil, Credit, And The Shifting Balance of Power" by Dr. Edmund Clingan

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"Oil, Credit, And The Shifting Balance of Power" by Dr. Edmund Clingan Video Clips. Duration : 72.48 Mins.

We had a good read. For the benefit of yourself. Be sure to read to the end. I want you to get good knowledge from Kaiser Union City. April 18, 2012 As Paul Kennedy wrote in 1986, great powers rise and fall, usually for economic reasons. This analysis enabled Kennedy to predict the end of the Soviet Union. We now have more precise economic measurements, but the lesson remains. It appears that the balance of power has shifted dramatically in the last dozen years. Yet there is complacency. This always seems to be the case in history. An imaginary Chinese pundit of 1820 would have pointed out that no country was close to China in economic size. Its share of the world economy was not much changed from 1750. being from the rich side of the chasm, he would not have cared about the massive divide between rich and poor in China. He could have pointed to impressive production statistics. It was militarily dominant. For all this apparent strength, China was about to suffer catastrophic decline. It would lose about half of its world influence from 1820 to 1870 and then half again from 1870 to 1920. yet American pundits urge confidence. Oil is the key. American production peaked in 1970. After this, American wages stagnated and other problems developed. The supergiant fields of Alaska could not arrest the decline, and tripling the oil rigs since 2009 has only stabilized the declined. Counting lower-energy liquified natural gas and ethanol as "oil" only masks the problem. As global oil production hit a ceiling around 2006, it forced the energy conservation the the US has long avoided and fractured a precarious ...

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