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As Kjell Olof Feldt, social democratic minister of finance during the 80's in Sweden said: devaluation is like peeing your pants; first it feels good - then it doesn't. Peak oil is not an energy crisis. It is a liquid fuel crisis.
Of course, the entire society could, in principle, decide that they want to not work so hard and just import less instead. But why is that not an acceptable policy decision? Sucks to be a rentier under that policy, but fuck the rentiers.
- Jake Friends come and go. Enemies accumulate.
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