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Posted Tue Nov 27 2012: from BusinessInsider:
Jeremy Grantham: We're Headed For An Economic Disaster Of Biblical Proportions
What Malthus did not foresee was the discovery of oil and other natural resources, which have (temporarily) supported this population explosion. Those resources are now getting used up... The story for metals, by the way, is the same as for oil: The low-hanging fruit has been picked. Despite the use of new technologies, the yield per ton of metal ores continues to drop.... The fact is that no compound growth is sustainable. If we maintain our desperate focus on growth, we will run out of everything and crash. We must substitute qualitative growth for quantitative growth.
[Read more stories about: economic myopia, peak oil, topsoil depletion, food crisis, holyshit, massive die-off, capitalist greed]

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'Doc Jim says:
Perhaps cataclysmic, or globally catastrophic. But not Biblical. Let's not exaggerate!

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