October 28th 2009
Why Your World is About to Get a Whole Lot smaller. Oil and the end of globalization. Jeff Rubin
Why Your World is About to Get a Whole Lot smaller. Oil and the end of globalization. Jeff Rubin
Why Your World is About to Get a Whole Lot smaller. Oil and the end of globalization. Jeff Rubin. 2009. ISBN 9780307357519. This may be the most important book you read this year. Rubin was the Chief Economist for CIBC World Markets and one of the first to accurately predict soaring oil prices in 2000. He makes some very strong arguments for the return of high oil prices in a swinging up and down cycle, with the highs getting progressively higher and the lows being set at the most recent highs. Our dependence (and the 3rd worlds) on oil has not been reduced even tho’ we are getting more efficient with it. He makes a very good case that we should look at how our life will change and how we should change our investment outlook if:
a carbon tax is a new way for NA to level the economic playing field
Oil prices just continue to go up
Massive deficits create an inflationary economy
Global growth remains at 1-2%
Large government debts need to be paid back with higher taxes and cutbacks
The US dollar not longer is the world reserve currency and the US can not inflate its way to a recovery
Eating local vs globally becomes a necessity vs a luxury.
I suggest you get this book and read it.
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