Maybe the cost of oil will do it for America, and a lot sooner than most might think. Information revealed by WikiLeaks indicates there is concern that Saudi Arabia, the world’s largest crude oil exporter, may have overstated its reserves by as much as 40%. Without getting into a “Peak Oil” analysis that America’s dimmer bulbs would require to be topped by a tinfoil hat, the information has already caused reputable experts to predict that oil could more than double in price to $250 per barrel by the end of 2011.Even further increasing oil prices will force America into a deeper recession and will escalate the poverty rate to a point which will force Americans to begin to change the way they are living and for the Americans who are living comfortably to possibly, hopefully and selflessly contribute more time and effort to serving their community and serving the increasing number of people who struggle to make ends meet
The Latest in the Government and Economics of the U.S. and the Rest of the World
Wednesday, February 16, 2011
America Falling into the Same Economic Class of Countries in the Middle East?
In a state of significant economic decline, or, at least, having recently endured a state of significant economic decline, the poverty rate has increased substantially, and more and more Americans are continually finding themselves unable to make ends meet. Poverty is unlikely to decrease in the near future because it has penetrated the American economy so deeply and because it is so intricately tied with various other contemporary issues that America is facing. The article by Billy Rainbow in the San Francisco Examiner on February 13, 2011 details how, despite America's current status as one of the world's prominent countries, it is beginning to fall as a result of different, interrelated issues, like countries in the Middle East and Asia with populations suffering from malnourishment and poverty. Rainbow bleakly states that:
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