from Zero Hedge
Authored by Gail Tverberg via Our Finite World,
- The global economy is expected to enter a recession in 2025 due to a decline in the availability of crude oil, coal, and uranium relative to population.
- Government attempts to stimulate the economy through debt will lead to inflation rather than growth, as energy supplies are constrained.
- High interest rates, low energy prices, and a decline in industrial output will characterize the economic landscape in 2025.
As the world enters 2025, the critical issue we are facing is Peak Crude Oil, relative to population. Crude oil has fallen from as much as .46 gallons per person, which was quite common before the pandemic, to close to .42 gallons per person recently (Figure 1).