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It's only been a couple of weeks and people are still getting used to the idea. It's going to take months before informal demand reduction starts making a difference years before it sinks in that the party is over and some advanced planning would be a wise and sensible thing.
Oil breached $100 just before the new year, and it was below $50 just two years ago. People would have had a couple of year to get used to oil prices rising, had it not been for the Very Serious People™ constantly reminding everyone that this was just a speculative spike due to geopolitical risk and evil scheming Arabs. our politicians are still blaming the producers when it's been clear for about 2 years that they just don't have the spare capacity.

When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done. — John M. Keynes
by Carrie (migeru at eurotrib dot com) on Tue May 27th, 2008 at 07:30:06 AM EST
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Yes, but hardly anyone here does that kind of forward planning. I bought an efficient car last year because I thought there was a good chance we'd be where we are now. According to the showroom, 4x4s were still selling well.

Dealing with reality now doesn't just mean looking at the bigger picture, it means understanding that the politicians are out of the game - they have no clue what's going on - and everyone is going to have to make their own plans, individually and collectively.

It also means accepting that most people won't be making plans, even now.

They're going to wake up next year in a different world with no clue what to do, and no support. They'll whine about how nothing has been done, then realise that nothing is going to be done for them - and then things will get 'interesting.'

You might see government start to wake up and realise there's a problem then.

Or, given Whitehall's record - perhaps not.

by ThatBritGuy (thatbritguy (at) googlemail.com) on Tue May 27th, 2008 at 12:04:06 PM EST
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