Just read an eye-opening interview with John Williams, an accountant who publishes
Williams believes that the budget and trade imbalances are setting up for another depression. Hopefully the corrections won't be that dire. Still, the risks of, say, a US currency crisis are lower than the risks of peak oil, where the challenge is the ability to maintian an industrial civilization without cheap fossil fuel. The weather is spectacular, life is good, I feel like a bit of a spoilsport. I'm reading Yochai Benkler's The Wealth of Networks, so the next entry will probably be cheery.