I guess we'll see soon enough. I think oil price is the real reason behind the economic trouble.
I think we're in for several more 2008-style stair step economic crashes over a longer period of time, with little growth between them. At least until we can truly replace oil as a transportable high density energy source. (Or until political and societal systems break down.)
Hopefully we get some major new energy source, like cheap fusion or space based generation, like orbital mass production of photovoltaics panels and beaming it back to earth in microwaves. Given sufficient energy, we could just synthesize the liquid fuels we need.
There's unfortunately a low chance we get this magic energy source in time, but let's hope for the best.
I think we're in for several more 2008-style stair step economic crashes over a longer period of time, with little growth between them. At least until we can truly replace oil as a transportable high density energy source. (Or until political and societal systems break down.)
Hopefully we get some major new energy source, like cheap fusion or space based generation, like orbital mass production of photovoltaics panels and beaming it back to earth in microwaves. Given sufficient energy, we could just synthesize the liquid fuels we need.
There's unfortunately a low chance we get this magic energy source in time, but let's hope for the best.