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December 31, 2007 9:10

The "Peak 2007" crisis

Posted by Justin Fox | Comments (2) | Permalink | Trackbacks (0) | Email This

I feel remiss ~~amiss~~ for not having addressed this important subject before. But I guess I'll just leave it to Mr. Juggles at Long or Short Capital:

Time and time again, people say we are running out of 2007. These cries began as early as January; by July, some were even claiming that there was less 2007 remaining than the amount of 2007 which we have already consumed. They call this condition “Peak 2007″.

Time and time again, people say we are running out of something, but science always shows that all these chicken little cries are for naught, as profit incentive combine with human ingenuity to preempt any shortage or problem. We didn’t run out of food as feared in the 60’s and 70’s since technologies to improve crop yields were disseminated to the third world. At the turn of the 20th century experts forecast a dire shortage of coal. And 2007, we are not going to run out of you.

There's more excellent analysis after that, so I would advise reading the whole post. We'll find out tomorrow if the gloomy so-called experts or the magic of economic incentives will prevail.

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Reader Comments (2)

GLD:

Its the Madison Avenue crowd we have to put up with. They are always telling us to trade up. I predict they will take the good old 2007 and just repackage it with a new name. Just like they used to do with automobiles. They will say that it is better and buyers will be happier and feel better off. And the magic of economic incentives will prevail; enough of us will buy into the ads and leave good old 2007 for a new 2008.

Posted by GLD | December 31, 2007 11:19 AM

p_lukasiak:

Actually, there will be no "new year". 2008 will be exactly the same as 2007.

In fact, we never did have a whole 2007. We've just been repeating the first three months of 2007 over and over.

And we'll keep repeating it for another four cycles starting tomorrow. The news will continue to be dominated by insipid horse race election coverage, the economy will continue to stumble along without either significant improvement or disasterous failure, gas prices will continue to rise, Iraq will continue to be insoluable, and the rest of the world will continue to despise us.

Seriously, can't we just skip the next four cycles, pick the nominees tomorrow (we can roll a dice for the nominees 1,2 or 3 means hillary, 4 or 5 means Obama, 6 means Edwards, and if it balances on a corner, Biden is the nominee for the Dems...for the GOP, we should just have the WWE schedule a "to the death cage match", since killing off most of the GOP aspirants would be a blessing), hold the election Wednesday, and start 2009 the day after?

Posted by p_lukasiak | December 31, 2007 11:59 AM