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Lacking the Resources: The Drain in Real Assets & How to Profit From it

September 9, 2009 by  

Lacking the Resources: The Drain in Real Assets & How to Profit From it

“The Golden Age of American capitalism is over… In the space of half a century it passed from gold, to silver, to paper, and now it is somewhere between plastic and naval lint.” Bill Bonner and Addison Wiggin, The New Empire of Debt.

“The only thing the States is pumping these days is money.” A Calgary-based, multi-national oil executive.

I use to love to ski. But one March morning a couple of years ago it left me feeling pensive and depressed. I stood at the top of Silver Mountain Ski Resort, east of Coeur d’Alene, Idaho, and watched the lower clouds disperse.

I saw how Interstate 90 snaked through Idaho’s once-famous Silver Valley. But that day the only silver I would see was the giant reflective sign that stood over my shoulder.

Fresh snow had only dusted the mountain. Down below the Silver Valley was black and barren, closer to what you would see on the moon than to what you would experience in the Alps.

My research as a metals analyst reminded me that Silver Valley was the only place on earth where more than a billion ounces of silver have been mined. Since 1884 some 1.2 billion ounces of silver have been harvested in Shoshone County.

I left for home in the afternoon and looked at road signs. The towns along the valley proclaim you can revisit the past and see how it was in the days of the silver barons. But with the sun setting the surroundings looked more like they were from the days of the Jurassic than from the days of Hunt and Getty.

The landscape has been dug, drilled, mauled and mined, and whatever silver was in the region has been long since spent. In a way the Silver Valley is a microcosm for America’s over-harvest of its once-bountiful natural resources.

Fifty years ago the United States was the largest producer of oil and a net exporter. Today its number one import is crude oil. Each year the United States spends nearly $300 billion on foreign petroleum. But oil is not the only resource in shortage.

In 2007 five of the 10 fastest growing imports were: nickel (up 47 percent), feedstuff and food-grains (up 34 percent), precious metals (up 34 percent), tin (up 27 percent) and food oils and oilseeds (up 26 percent).

This year the United States will run a trade deficit of about $350 billion. More than 80 percent of that deficit will be for the purchase or raw materials.

Meanwhile America’s insatiable thirst for natural resources has some Canadians nervous.

“Could the U.S. takeover Canada?” asks the Aug. 20, 2009, Vancouver Sun. Perhaps not anytime soon the newspaper says, but there are reasons to be concerned.

The Sun concludes that Canadian politicians will become more protective of this nation’s sovereignty, “if Americans relentlessly continue their unsustainable consumption patterns even as U.S. resources keep on depleting.”

Given the 100-year trend, it is hard to imagine anything else.

America has always been relentless in its consumption of raw materials and it’s hard to see how that will change. The nation’s whole way of life is based on the excessive consumption of oil, land and minerals. It was the harvesting of those resources that made America great and at the same time addicted the country to a resource-intense lifestyle. But now the nation’s resources are running low.

For example, U.S. experienced peak oil production way back in 1970. Since then domestic oil production has been in a steep decline.

Today Canada funnels more than half the 3.4 million barrels of oil it produces daily to the U.S. and provides 82 percent of all U.S. natural gas imports.

Canada also sells a third of its hydroelectricity to U.S. markets and supplies a third of the uranium used in U.S. nuclear power plants.

Water, of course, is another resource soon to be in shortage. Earlier this year, the U.S. Government Accountability Office said at least 36 states are anticipating water shortages within five years. Again, Canada has excess water it can sell to the U.S. (not because Canadians have been better stewards of the land but because Canada has a richer inheritance and one-tenth the population.)

But even Canada does not have the wherewithal to meet all of America’s resource needs, never mind the needs of a thirsting world.

“In the 1960s most countries lived within their ecological resources,” writes guardian.co.uk. “But the latest figures show that today three-quarters of the world’s population live in countries which consume more than they can replenish.”

While Western economies have slowed to a crawl, China’s economy will grow by more than 8 percent this year. Each new day brings tons of new consumption of raw materials—everything from alfalfa to zinc. And as 1.3 billion Chinese continue to satisfy their growing Western tastes for everything from cars to washing machines, the finite supply of natural resources will get smaller and smaller.

According to guardian.co.uk, “The natural resource crisis is proving worse than the global financial crisis. We are using up the earth’s resources very fast; and as a result, we are heading for an ‘ecological credit crunch.’”

That is certainly an exaggeration from the Liberal left. But there is no denying that real assets are getting used up and at a record rate. If you don’t believe me, just look at some commodity price charts. Rising prices reflect growing scarcity or fears of scarcity.

Commodity markets are one of the only true free markets left, and if you ignore them it is at your own peril. Right now the CRB Index tells me that the commodity bull, while wounded in 2008, is very much alive and getting stronger. That means even higher prices for real assets across the board.

Action to take: A conservative but profitable way to play the commodity bull market is with a real asset fund. There are plenty of good real asset funds out there so talk to your stock broker. Just remember, when you invest in a real asset fund you are betting the price of commodities is going to go up. Given the recent weakness in the U.S. dollar and the continued global demand for commodities, I think this is a safe bet.

Yours for real wealth,

John Myers
Myers’ Energy and Gold Report

John Myers

is editor of Myers’ Energy and Gold Report. The son of C.V. Myers, the original publisher of Oilweek Magazine, John has worked with two of the world’s largest investment publishers, Phillips and Agora. He was the original editor for Outstanding Investments and has more than 20 years experience as an investment writer. John is a graduate of the University of Calgary. He has worked for Prudential Securities in Spokane, Wash., as a registered investment advisor. His office location in Calgary, Alberta, is just minutes away from the headquarters of some of the biggest players in today’s energy markets. This gives him personal access to everyone from oil CEOs to roughnecks, where he learns secrets from oil insiders he passes on to his subscribers. Plus, during his years in Spokane he cultivated a network of relationships with mining insiders in Idaho, Oregon and Washington.

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  • s c

    All an American citizen needs to know about what’s going on in this world and in this country can be summed up in two points.
    First, trust this government, and get ready to live in third-world conditions. Second, have faith in the dollar, and be prepared to walk around with your head rammed up your ‘opinion’ for the rest of your life.
    For your sake and for the sake of your family, open your eyes, think, and never put blind faith in big government.

    • http://donthaveone Beberoni

      Heck, with these guys running things now, were lucky the Canadians dont roll down here on their horses and take over the United States, since the dems would just want to sit down and talk about it why they were taking it over.

  • http://www.chandostransport@eastlink.ca Graeme B

    The nervousness of Canadians is justified as there is growing pressure to export water. Water, as a commodity, would be covered under NAFTA and as a result Canada would have no control over their water. Gas and oil as well as electricity cannot be charged at a higher price than is being charged in Canada. Nova Scotia has natural gas coming in from Sable Island in the Atlantic. About 98% of the gas flow goes to New England. If US decided to cross the border there is nothing that Canada can do. The rush that is ongoing regarding the melting of the arctic ice cap and the opening of the far north to not only Great West Passage but also claims to mineral rights, have Canadians rightly nervous. The future world will have most resources going to China and India. The United States will be a very diminished economy due to massive deficits caused mostly in the last 8 years. If the US$ is no longer the trading $ then the purchasing power of the US economy will be greatly diminished. So the Government will look North with an eye to “Regime change”. You cannot keep living on credit before the collector comes for his pound of flesh.

    • DaveH

      Relax Graeme, most of us down here have no desire to take your country. And I doubt that your ice caps are going to melt. That is just United States Government hype designed to force us to buy the Liberal alternative energy schemes so Al Gore and others like him can get rich and powerful.
      You are just going to have to sit and wait until your real enemy (socialism) causes your country to collapse.

      • http://donthaveone Beberoni

        Thank you Dave for a voice of truthful reason. Actual geological scientists, not the bookworm scientist that Al Gore and G.E. have employed, but actual geological scientist have said that the ice caps are bigger than ever, and the stuff you see falling off of them isnt melting, its that they are getting so big and heavy they cant hold the weight so some pieces are breaking off. Your right, Al Gore and GE and others stood to make billions of dollars if they could hype it up enough to get people to buy into it. It was all about them trying to get rich. Thats Al Gore, what a wanker. And the Canadians need to rest assure, the only reason no one else has taken them over is because we are here right next door, guarding their little pansy asses. Maybe you all up there ought to re-think how you treat us, being one day your going to need us because the way you keep letting the muslims in up there, your headed for a big problem.

        • DaveH

          Thank you for your support Beberoni.
          We have 3 to 5 million Muslims in our country. They really test my convictions of religious freedom, as they always seem to be where the violence is. It makes it really hard for me to believe that they want peace.

          • eyeswideopen

            Dave, you know I won’t let you get by with such a statement. Where are the facts “link master”?

          • DaveH

            Eyes,
            Bosnian wars 1990s. Chechen wars 1990s. Ongoing Muslim vs Hindu violence. The list goes on; I will leave the proof to the student.

            Another point to be made: If you go to the following link you will find a list of Muslim Majority countries. Then put the name of the country + religious-intolerance into your web search field. So, for instance, “Indonesia + religious-intolerance”. You will see how it goes for Muslim Majority countries.

            http://en.wikipedia.org/wiki/Majority_Muslim_countries

          • eyeswideopen

            Dave,
            the way you stated the facts,it implied that the violence was in this country. That’s why I asked for facts. What does the population in the US have to do with violence in other countries? People on these posts will just assume that the violence is here. Which it isn’t.

          • eyeswideopen

            Dave, let’s assume that we want peace. These are the conflicts where we sent troops. Korean War 1950, Lebanon 1958, Dominican Republic 1965, Viet Nam 1964, Grenada 1983, Beirut 1983, Panama 1989, Gulf War 1991, Somalia 1993, Yugoslavia 1999, Afghanistan 2001, Iraq 2001, Philippines 2002. Really the only one we should have been involved in was the Gulf war, when a country was being invaded and requested our help, but we went to protect our own interests in oil protected. Just a note to remind everybody…. The Iraq war has lasted longer than WWII. So us Americans seem to be where the violence is also.

          • DaveH

            I didn’t say it was here, Eyes. I can’t help what somebody reads into my comment.
            But you state that it isn’t happening here, which is fallacious.
            How come I can’t make statements that might be misinterpreted, but you can make statements which aren’t true?
            The DC sniper leader was Muslim:
            http://en.wikipedia.org/wiki/John_Allen_Muhammad
            A 17 year old former Muslim girl is hiding out in Florida from her father who she fears might kill her because she converted to Christianity.
            And of course you remember the 1993 Trade Center bombings, and then the 2001 9/11 attack.
            Eyes, you wear me out. You’re going to have to do more of your own research.
            I think most Muslim people are good people, but I fear from the example set in other countries around the world that if their numbers get too large we are going to have hell to pay.

          • DaveH

            And you know how I feel about our military campaigns if you have read the book:
            http://mises.org/rothbard/foranewlb.pdf

          • DaveH

            And Eyes,
            Quit trying to put words in my mouth which you know are not true.

          • eyeswideopen

            Dave,
            you stated there are 3-5 million in our country and then state they seem to be where the violence is. That is a direct inference that they are in this country, so there be violence where they are. You said it and you are smart enough to use subtle and misleading sentence structure to make your point. I didn’t make any untrue statements and If I ever did, you would be nipping at my heels. I didn’t put any words in your mouth, but out of your mouth comes the absurd statement about religious freedoms, if you are going to judge a religion based on violence, the Christians are right up there with the best. Just look at the violence in this country which is American on American, sometimes Christian on Christiam. Do you remember the Crusades? It happened in the 11th, 12th and 13th centuries to recover the Holy land. Just because you are an atheist don’t try and get everyone upset about the Muslims in this country. You are identifying a few incidents and trying to make a big deal out of them, change out the word Muslim with any of these: Baptist, Mormon, Methodist, Christian and you will see what happens everyday in this country. You don’t do any work for me, you provide links to try and sway the people on this site to the Libertarian point of view. I have asked you to interpret the Libertarian principles as some of them seem a little far fetched in the actual implementation possibilities. Which you have answered only one. Dave this country doesn’t need anyone stoking the fires against the Muslims, why don’t you stay with the politics and within your Libertarian principles of freedom of religion.

          • http://donthaveone Beberoni

            For one Dave, eyes must not know, that the very tenemant basic belief of the muslim religion, is that if anyone doesnt believe what they believe, or think like they think, that they then are declared a heathen and are to be put to death. Yes, that is their basic belief in the foundations of their religion. Also, muslims kill more than any religion on earth. They kill each other daily, with their different factions of Bathe’s, Sikhs, and Shite’s and others. They have a slight different belief, so they kill about it. Real peaceful religion. It would be the comparison in this country of a Baptist killing a Presbyterian killing a Methodist killing a Catholic killing a Pentecostal killing a Missionary killing a Mormon. I mean it is just barbaric killing non stop. They have never gone through any reformation, and one is needed badly. And for eyes not to see the violence they caused over here when they blew up the World Trade Centers is just blindness. These guys are over here in mass, and what they do, is sit back and plan the big whammy, and believe me they are planning it again, and as long as we have people like eyes that think they are just a bunch of nice guys, things are going to get blown up. Thing is, they are going to reach a point where one time is too much, and whats going to happen is there is going to be open season on the streets for anyone that looks like them. Unfortunately for them, that day is coming down on them, if they keep trying to blow up things here. I dont think eyes realized just how many of their attempts were stopped by the Bush admin paying attention to this and stepping up homeland security, after Clinton had totally disabled our intelligence field.

          • eyeswideopen

            Berb, I never said that Muslims were nice guys. I’m saying that in this country the Muslims have not been violent. Those that caused 9/11 were not from this country. As a religious group in this country,you would be hard pressed to find incidents of violence. We have more Christian on Christian violence in this country than the they do. I don’t want anyone on this site to intentionally or accidentally inflame more hatred towards a religious group. Part of the Libertarian principles that I liked was: “We favor the freedom to engage in or abstain from any religious activities that do not violate the rights of others. We oppose government actions which either aid or attack religion. We condemn bigotry as irrational and repugnant”. The Libertarians believe in live and let live. When we attack religious sects, it is the worst kind of bigotry that we can expouse. The definiation of bigot is: An intolerant person, esp in matters of religion, race, or politics. The Libertarians are being respectful of the differences between individuals. Your remarks about me being a member of one of the Muslim sects, just shows how disrespectful you are to anyone, who isn’t white, Baptist, and Republican. I hope you comprehend the defination of a bigot, and you need to stay with the Repubs, as I don’t think you would be welcomed by the Libertarians, as they truly live their principles. It is interesting that you, a so called Christian, is so hateful towards others, what ever happened to brotherly love? Or did the Christians change that to: Brotherly love only if they are our same religion and political party, and do exactly what we say? Yep, you are the example of why this party is losing members.

          • DaveH

            Eyeswideshut,
            I made a simple comment to Beberoni. You asked me to elaborate. I did. You continued to flame out the issue. You are the one who is stirring the pot. It kind of makes me wonder if you aren’t secretly anti-Muslim and are trying to get me to besmirch them for you.
            I just stated facts – facts which you solicited. Bugger off.

    • eyeswideopen

      Graeme, you had no problems until you stated” deficits of the past 8 years”, you don’t say anything truthful or critical about the past admin, or the anti-Obama team will descend with guns blazing.
      Here is Fl, we have water wars all the time, I can understand your trepidation as we do have a history of taking what we want with justifications which are at times ludicrious. Since Canada, has a good standing in the world, I think the rest of the world will keep us in check. Eventually we will quit being the worlds policeman and start working to solve world problems.

  • Ron Foreman

    Why?
    -no nuclear power houses
    -why no drilling in leased govt area (EPA)
    -why did Chiveron stop their pilot plant in Pascagoula Miss. after their big find of Texas coast
    -Why have oil companies halted refinery expansion project
    -Whey are drilling rigs being brought inland
    -why are platforms not pumping at 100 percent
    -why are we not building coal shale plants, in the 70s I was with MW Kellog, oil had gone up in price and we were to build a plant at four corners. Oil went down and plant was canceled. Hitler had these plants. Now companies want grants to build pilot plants , why? We know how to build them.,
    -why no plants to convert sea water, like the rich arab nations use which american technology built
    NO THERE IS SOMETHING BIGGER THAN WE CAN SEE GOING ON. PERHAPS IN “THE ART OF WAR’ THE TERM NEW WORLD ORDER WAS USED, AND THAT WAS IN 1939.. SOMETHING IS GOING ON TO HAVE A ONE WORLD POWER.
    KEEP YOUR POWDER DRY.

    • DaveH

      Right on target Ron. Well said.

    • eric

      Oh this 1 is easy. It’s all designed to make this once great nation a great big geto state.

    • rudedude

      Easy, environmentalists!

  • DavidK

    GraemeB is right on some things like there is nothing the Canadians could do to stop the US from taking over their country, but until the “Usurper” has slipped into office, we didn’t have enough incredulous power in DC to even consider this as a possibility. I still don’t believe we as a nation in a recession would even consider taking over Canada. Problem starts now with the recession brought on by Democrats forcing banks to give out loans to idiots that can’t or won’t pay them back as “agreed”. The banks were forced to back up this toxic debt with pension funds, and now we are looking at a precipice of economic destruction. You would think that Mr. O would cut spending and create incentive for business so as to create permanent jobs by the millions and stop the recession. Instead, Mr. O has tripled, i.e. 3 times multiplied, the national debt and plans and increasing it even more! In 8 months, Mr. Nation Wrecker Obama has tripled our debt and is turning a recession into a massive depression.
    It would really help if we could get to the oil off our coasts that China is mining or the oil in ANWAR, Alaska, or in tri-state Wyoming, Utah, and Idaho. In just the later 2 places I just mentioned, we have double what the Saudi Delta had and is drying up. But Leftist Democrats are a roadblock here also with their Environmentalist Extremists. We could be charging Iraq for their hard won freedoms, but, again, Leftists Democrats will charge that the take over of Iraq was “Blood for Oil”, so no luck there. We could be charging Mexico a barrel of oil a month for each illegal alien that they have over here, but the Democrats won’t have anything to do with that solution either. It seems that the Democrats are the problem, spawning ignorance and repugnance where ever they are. Always in the way of everyone’s success.

    • ted plottner

      what planet are you living on——Since 1980 the U.S. gov has been disbanded and weakened into a terrible mess——Reagan said the Gov. is the problem and went about to make his belief come true
      the right wing kooks created this whole mess

      • DaveH

        OMG, Ted. Put down that pipe. The Federal Government has grown consistently since the FDR days.
        In 1980 when Reagan was elected, the Federal Budget was about 500 Billion Dollars (that’s .5 Trillion). Now it is over 3 Trillion dollars. That is 6 times as much as was spent in 1980.

      • s c

        Ted, don’t bogart that joint, dude. I can’t get the good stuff here. BTW, what do you mean when you said the government was ‘disbanded in ’80′? I got sunny beaches with their hands in my pockets, and every one of them work for that half-@$$^* government you sed got ‘disbanded.’ Whut gives, man?
        I need some dynamite stuff, man. Whut you got must be powerful. It’s been so long since I been really out there I forgot whut it wuz like, man. You gotta help me, man!
        Be a pal, guy.
        Will that stuff will be part of the new health care? That wood be so groovy! I can’t afford to look for anything that strong in this part of the woods. Come on, Ted. Ya gotta be my pal.

        • DaveH

          We’re going to need it SC, if these Liberals get their way.

      • http://donthaveone Beberoni

        Yeah, right. And Bill Clinton did not inhale, or have sexual relations with that woman. What planet have you been living on?

    • eric

      Here’s another avenue of that. All good US citizens wonder where this anti-american garbage came from. After the US helped defeat the Germans all over Europe, and Russia, some of them moved here to be good US citizens. The problem is their kids, now our leaders, teachers, and high end college prof’s, grew up with their parents idea of a great country, the 1 they came from. The parents might want to be good US citizens, but their kids were old country anti-american radicals, now in charge of our gov’t, and what’s left of our freedom. They hate capitalism, they hate our country and don’t even know why, maybe it was something their parents preached, when the kids were very young. So it’s not like the early 1900′s immigrates that wanted nothing more than to be loyal US citizens.

      • Gary

        I think you are on to something here. Being a first generation American with parents from Germany, I can vouch for the fascist thinking of the old world. You should hear my father talk about the good old days of fascist Germany in one breath, then about Putin and how revered he is in Europe – How he can travel around Europe with no security and show up in a local bistro to talk with the local folk. A real hero. I wonder how someone who has worked hard as a metal worker all of his life and has benefitted from our free market capitalist society can now turn against this proven philosophy for that of state control and socialism. As you suggest, maybe this is more widespread among European immigrants than one would suspect. Luckily, a decent business education, grasp of history, and love of freedom & independence has kept me from falling into this type of thinking.

      • DaveH

        Gary and Eric,
        One big problem we will always have is the ability of human beings to rationalize their Hopes and Dreams as if they are reality. That enables the leader class to gain their votes and support by promising things that they cannot really deliver. We have the daunting task of telling them “No, you can’t have the promised easy life, you must work hard and do other uncomfortable things if you want to prosper”.
        How do you convince them that there is no free lunch? If it is free, someone else had to pay for it.

    • http://donthaveone Beberoni

      This bank problem you cited, well done. Set up by Bill Clinton and his gang, using Fannie Mae and Freddie Mac funds. Collapsed the whole banking industry. Barney Frank was the watchdog of this. Fine job. As far as the oil thing, the more time passes, the more I consider that it seems we are trying to dry up all the mid-east oil first, then make the world dependant on our oil. Dont know, but just a thought.

    • eyeswideopen

      You really liked Dave’s Usurper word didn’t you? lol

      • http://donthaveone Beberoni

        Question is Mr. Eyes, are you a Sikh or a Shite?

        • eyeswideopen

          Berb, you don’t read too well do you. I have stated many times, I am a 50 something,Christian white female who is unhappy with my Republican party as they did not adhere to the fiscal responsibilty that our mantra expouses. Get a grip, radicals are identified by the little indecorous remarks you make.

  • Lena

    I live in Canada and I am not worried that America is just going to come barging in. That would call for much more desperate times. However, at the rate America is going, they will be rather desperate rather soon. It is a little scary to think about but I am certain that the Canadian Government will put out all the stops to protect its people. They are being cooperative with supplying much of America’s needs and for America to just go all crazy Nazi on Canada in a hostile take-over seems highly unlikely. But really, if America just decided to go all crazy and barge across the border demanding our resources they would be in for a fight. One where Canada has the resources to survive and could stand a chance and push enemies out. But I just don’t realistically see anything like that happening. If anything, America and Canada will unite with one another for the greater good. At least I hope they will. I just don’t understand why America isn’t putting all this “debt” into building solar panel factories or other alternate energy sources while the energy to build those is available.

    • DaveH

      Big Government has already bankrupted this country without more wasteful spending being added to that. The solar panels would come later (or maybe something better than solar) when the need arises in a free market. Right now they are more expensive than oil or other alternate energy sources. The mess we are currently in is a direct result of the inefficient involvement of Big Government in business. I know that misery loves company, but you can keep your country. I don’t want further poisoning of our country with Canada’s socialistic politics.

    • http://donthaveone Beberoni

      What fight would that be? Dudley Do-Right on his horse against the U.S. Marines? Give me a break. You guys got no defense up there, except us right here in America. We got your back, and we always have and always will. Maybe you should treat us a little better than you have for the last 20 years. Your starting to act like France up there.

      • DaveH

        Beberoni,
        That seems to be the rule rather than the exception for people or countries to be ungrateful for our protection. I guess I don’t blame them as I wouldn’t want Canadian or Mexican police in our country. I think the only realistic solution is to bring our soldiers home, and put them to work in our own country thus saving all that money. Let the others pay for their own damn defense. Of course, that won’t make any difference with the Canadians who just benefit by our proximity.
        I am of a firm belief that being the world’s policemen only benefits our leaders and the special interests around them. The citizen’s protection would be best achieved by eliminating our military largesse to other countries.

        • http://donthaveone Beberoni

          Agreed. Its good to hear from an educated American that actually has truth and knowledge in the things he says. It seems that there are a lot of “whack jobs” that write posts here, and it makes me wonder what country they originated from. Do you suppose that “eyes” guy is a Shite or a Sikh?

          • azcIII

            A growing number of Americans, far more than you’d think watching what passes for our media these days, believe we should return to our founding principles. Small government that strictly adheres to our Constitution. Neutrality in foreign affairs unless directly attacked. Mind our own blasted business, engage in free trade, and let other nations determine their own destinies. Enough of the meddling in the affairs of sovereign nations where we are not wanted and definitely not appreciated.

            The constant wars must stop. How can anyone claim attacking Afghanistan and Iraq served national security when our borders are wide open and drug cartels have more operational control over them than we do?

            We must also use some common sense and achieve sustainable use of resources (a vast amount of resources lie unused because of loony policies and regulations that have no sound basis in science). Our energy needs are intensive, and the only viable answer to oil is nuclear. Compared to other energy generation methods, nuclear is actually the safest and most environmentally friendly. http://www.lewrockwell.com/orig9/hogan3.1.1.html (This article is long, but it will blow your mind concerning the future of nuclear.)

            There are so many misconceptions about nuclear power, and so many possibilities for it! I had no idea half this stuff was even possible, let alone technologically close enough to see in my lifetime. Maybe I’ll go back to school and learn nuclear engineering…it is the only real option we have unless we really want to be a third-world country again.

  • Richie

    As a Canadian/American citizen it makes me nervous. American has long preached being a growing trade partner to Canada but when even more Americans are forced to start living as if they were in a developing nation how long until the friendly relationship turns into a race for resources.

    The Ford plant in Aurora, Ontario for your oil and fresh water please.

  • DaveH

    I take exception to John Myer’s statement “It was the harvesting of those resources that made America great”. There are lots of third world countries that have equal or greater natural resources. And natural-resource-poor Japan has become one of the greatest countries in the world.
    Our country became great because our forefathers had libertarian inclinations and formed this country under the concept of limited government. Now that the government has broken those restraints we are declining rapidly.
    Free enterprise would take care of the problems that John decries in a much simpler less antagonistic way than the Big Government way. As certain resources declined and prices increased, the free market would find ways to replace those commodities. Sure, it is because they are ‘greedy profiteers’, but greed works and in a much less contentious way than Government oversight. For instance, as oil becomes scarcer and pricier, solar cells (now too expensive) or other energy sources would replace it in the market place. The free market moves rapidly to replace obsolete items, unlike the ponderous heavy hand of Big Government. If we could greatly remove the greedy power-hungry people in the government from the business equation, those ‘greedy profiteers’ (the corporations) would supply the solution to us in a much cheaper way than does Big Government.
    Granted, there are corporations that are taking advantage of us. But they do so with the help of Big Government through protection (tariffs, import controls, etc), and through outright subsidies. While the Liberals are looking to Big Government for their salvation, the real heroes are being stepped on by that very same Big Government. Corporations cannot force us to buy their products, and they cannot force other corporations not to compete with them. They can only accomplish those things with Big Government’s force backing them up. Government is force, not reason.

    • John Myers

      Dear Dave,
      One of the sources for my conclusion that America became great because of its natural resource wealth is a terrific book, H.G. Wells’, 1922, A Short History of the World. In it Wells looks at two distinct advantages the United States had: rich natural resources and the isolation of two oceans. Of course you are right, these alone did not make America great — Americans made America great. But they had some help along the way. One other great source is The Rise and Fall of the Great Powers: Economic Change and Military Conflict From 1500 to 2000, by Paul Kennedy, first published in 1987. Also you point out Japan’s rise. This occurred in the Information Age, not the Industrial Age. Japan’s attempt for greatness in the earlier period was militaristic and depended upon capturing rich resources in Asia. In the end those policies resulted in Japan’s near destruction.

      Sincerely,

      John Myers

      • DaveH

        Are you saying then, that Africa is resource-poor, or that Brazil is resource-poor, or that Argentina is resource-poor? Why haven’t they kept pace with the United States?

        • DaveH

          I’ll answer that for you – Politics! We started out with a freedom mindset bestowed upon us by our forefathers. Of course, it has been greatly subverted over the years to enrich and empower our leaders.

        • John Myers

          Dear Dave,

          What I said was that Americans made America great — that a bounty of resources and geographic isolation helped. If you want to educate yourself on Africa and South America and why those nations are backward, then read Guns, Germs, and Steel: The Fates of Human Societies. It was published in 1997 it is a book by Jared Diamond. There was also a TV series on the same subject.

          Sincerely,

          John Myers

          • eyeswideopen

            John, great info, appreciate it.

          • eyeswideopen

            John, please stay on this site, we need insightful, intelligent and resourceful commentators.

      • DaveH

        Sorry John, but I’m a little sensitive to anyone who attributes the rise in our country’s wealth to its natural resources. The one common factor that determines a Country’s wealth or lack of it is the amount of regulatory hurdles that their citizens must clear.
        From a John Stossel interview with Reason Magazine:
        http://www.reason.com/news/printer/131974.html
        “I had some shows like Greed or Is America No. 1?, which discussed why America is prosperous. You ask kids, and they say it’s because we have democracy and we have natural resources. I point out, well, India has democracy and natural resources, but India’s poor. They’d say, India’s overpopulated. Actually the population density of India is the same as that of New Jersey, and New Jersey’s doing OK. And Hong Kong has no natural resources and 20 times as many people per square foot as India, and Hong Kong got rich. In 50 years it went from the Third World to First World because, as Milton Friedman points out, economic freedom is the answer to why a country’s prosperous. The British rulers in Hong Kong enforced the rule of law, kept people and property safe, and then they sat around and drank tea. They left people alone. To me, that’s such a valuable lesson for kids.”

        • American Citizen

          The American people are what made this country great. Their willingness to work for what they get, their ingenuity and inventiveness keep us moving forward. We have a great military to keep us free. What we now need is a government that also believes in freedom for its people and free markets again. We need to throw off the oppressors.

    • http://donthaveone Beberoni

      I would say both our growing goverment problems, where they want control of everything, and our moving away from God and trying to put Him in a box is the source of all our problems.

      • DaveH

        Beberoni,
        I am not religious, but I did attend Catholic school for 9 years. I do think a lot of my concepts of morality came from those roots. So, while not believing there is a God, I do think the religious teachings have tremendous value. I’ve often tried to figure out why the Liberals have such a hard time with religion, and the conclusion that I have reached is that religion gets in the way of their aspirations for power.

        • eyeswideopen

          Dave, using your train of thought, the Repubs use religion to prevent people from having the freedom to do what they want with their own bodies. Libertarians believe that you don’t have anyone telling you to do anything. Libertarians are not influenced by religion at all. They don’t try and use it to guilt people into obeying a certain set of beliefs. Religion has no place in politics. Our fore fathers knew that and thus created the seperation of church and state.

          • DaveH

            Okay. But those words “separation of church and state” are not used anywhere in the Constitution. It simply says “Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof”.

        • http://donthaveone Beberoni

          Dave, I am a Christian, and the reason the liberals have a problem with it, is because when their belief systems says its ok to kill babies, and that its ok for a man to butt bump another man, and that everything is ok to do as long as it makes you feel good, well, God did design us with this little thing inside called our conscience, which lets us know right from wrong, and I dont care what people say, when they are doing something wrong, they know it, but its easy to get acceptance in mans eyes for stuff, if they can get enough people to think that way with them. It doesnt make it right. But they cant hide what they do from God. He does see it all. I was raised going to church, forced to really, then as a teen and young adult, I went my own way, doing drugs, drinking, womanizing, the whole self destructive thing that Satan likes us to do, you know, destroy ourselves before we can come to know the God that died on the cross for us, then he gets our soul. I doubted the existance Dave, I really did, until what seemed bad at the time, I hit what they call rock bottom, and buddy I hit my knee’s and cried out to this God for help that I had heard about as a kid, but really never knew really existed. He came to me, and it was revealed to me. I know not being a believer its hard to comprehend, because heh, its not an earthly level thing. But it is written in the Bible, “though they have ears they dont hear, and though they have eyes they dont see”. Well, when I cried out and accepted, my eyes got opened and my ears were opened, and its a whole different ball game now. But the point of me telling you all this is two fold. One, I would love for you to experience the power of Jesus Christ in your life, and two, I am a Christian, and I dont, I repeat, I dont want you dead because you dont think like I do. I will pray for you to have better things. However, a muslim, he will not pray for you to have good things. He wants you dead because you dont think like him. This is the difference between the two religions. Big difference. I support your right to believe or not to believe, but I pray for God to reveal Himself to you. I can exist with you, and even like you, even though you are different than I. This so called other religion does not want to afford you or I this right. We are both heathens in their religions eyes. So there is the big basic difference between the two. Hope I helped some, if not, well at least I tried. Have a great day Dave, I like the American way you think of things.

          • eyeswideopen

            Berb, so interesting that only you know how a Muslim thinks and you know that they won’t pray for Dave. The Muslims believe in a God, and Dave doesn’t but you will suck up to him and not condemn him. He doesn’t even belong to your political party,( I do hope you know that we have Muslims in the republican party), and you will slam the Muslims as the most evil group in the world. Your rationale is mind boggling. Peace be with you, and may God forgive you for your hate.

          • DaveH

            Beberoni,
            Libertarians believe the individual has a right to own his/her body and property. That means that we can’t trespass on others bodies and property (without their permission) and they can’t trespass on ours. We do not try to dictate what religious tenants others should believe or practice. Libertarians totally respect peoples’ religious rights.
            We also believe that any government (just people after all) should be bound by any law by which any individual is bound. Government in a Libertarian world would exist only to protect the citizens from force by others.
            Abortion is a tricky issue, but until the baby is born I believe that is an issue to be decided only by the mother. If you can convince her to keep the baby, great. Pregnancy carries with it a risk of death. Only the mother should be allowed to make the decision to bear the baby or not. I don’t condone partial-birth abortion as the baby can survive outside the body and the above argument is gone.
            Libertarians respect the individual’s right to have whatever sexual orientation they want, whether we personally think it’s gross or not. For a Libertarian, if there isn’t a victim, there isn’t a crime.
            We believe in very Limited Government which I believe would allow both religious and non-religious people to co-exist peacefully. For instance, everyone would send their kids to the school of their choice. So there wouldn’t be all the turmoil we have now about what is being taught to our kids. If we found that our kids were being taught things we don’t approve then we would simply find a school that did meet our approval. There would be no government involvement in our school decisions or school curriculums.
            I do my best these days to fly under the government radar. Twice now, the government has aided evil people to take advantage of me. Once in a divorce case and a current ongoing mess with an estate issue. It’s like everything is turned upside-down. The bigger the government gets, the uglier society gets.

  • Andrew Mackenzie

    America has expanded their army bases in Ft. Lewis in Washington state and Ft. Drum in Northern New York State. Why? They spent $300,000. dollars to get Mr. Harper elected to office in CANADA. If they don’t get our water they will invade. They are fighting the Alaskan Indians in the world court now, about the treaty they signed with the Russian CIAR on the purchase of Alaska. The only treaty the Russians had was for the right to put some Churches on their land. The American used this to steal their land. Now watch out DUMB CANADIANS.. Andrew

    • DaveH

      Andrew, I agree, the United States should butt out of Canadian politics.
      But on the subject of Alaska, are you serious that we should go back and adjudicate something that occurred over 140 years ago? Is there no statute of limitations in your world?
      No wonder you are afraid of the United States.

    • DaveH

      By the way, you have got my complete support for the United States to not mess with Canada. We have enough trouble already without taking on 33 million brainwashed socialists.

      • http://donthaveone Beberoni

        Exactly. Canada’s fear should be directed at within its borders. Socialism is killing it, and their influx of muslims is killing it. They are feared for one good reason though, and that is if we want it, its ours and there isnt a thing they can do about it. I dont think Dudley Do-Right can defend it properly against us if it came to that.

  • Bill Holloway

    Thomas Jeferson once said: If this nation ever destroys it’self from within it will be from over immigration”WE’ve got to shut the gate. Instead of The statue of liberty welcoming everyone they should have her saying “Go back, the house is full. NO VACANCY.

    Bill Holloway

    • eric

      Man I like that answer. It’s not the parents but they’re kids who are in power now and doing the US in. Somewhere along the way they’re kids got brain washed to believe the old country their parents came from, somehow was better than our country. So is there goal to knock the US down to a getto. These kids I refer to are all our leaders, lawyers, president, and college professors, brain washing our kids. What a senerio for complete disaster.

      • http://donthaveone Beberoni

        And this dumbing down all started years ago, when somehow the liberals got ahold of running our school systems, elementary, high schools, and colleges, and they have our kids all these years, telling them we werent created by God, that we should have tolerance for everything, that all should strive for mediocrity, because they are getting rid of rewards for excellence, and getting F’s for failing, and making everyone be mediocre, right in the middle. Everything is OK. There is no right and no wrong. What ever feels good do it, just wear a rubber. Come on, look what they teach our kids as youngsters on up. Its fricking terrible. Unfortunately, many kids do not have a home life where mom and dad show them true love, give them God in their life, show them a healthy relationship between a man and a woman, and teach them the true good things they need to know in life. So they grow up thinking like they do, become politicians and lawyers, and now its all going down the tubes fast. Every society that has pushed God aside and removed him from their midst, has fallen. We are on that path. Its sad. The democrats lead the way in this. What with all their tolerance for everything, killing babies and all that mess. Unreal.

        • eyeswideopen

          Berb, yes the Dem’s have increased their population to over 250 million now. You think they control everything, So now, it’s all the schools, banks, wall street, car companies, insurance companies,radio stations, tv stations, newspapers, universities, police acengies, fire depts., mortgage companies, builders/contractors,. They had to double their numbers to be in charge of everything that is wrong in this country. Oops, you also think they control all those things that are profitable so, they must truly be making babies overnite. Look out, you don’t need to bother to vote, they allready have control of everything and you can’t get it back….,..lol

      • American Citizen

        The reason the younger generation thinks the way it does is because they are all so darn spoiled. Ask the teachers what they have to put up with in the classrooms. For one, kids who have no sense of discipline. In the upper grades, they have to deal with students who not only assault one another, but teachers, too. It doesn’t happen everywhere, but does especially in the big cities. I blame the entertainment industry and sports figures for a lot of this. They show them doing things and not showing the consequences. Kids try these things and leave the rest of us to deal with them. The “do it because it feels good” generation is a big part of the problem.

        • eyeswideopen

          American ,I agree, the kids are spoiled rotten, however it is the parents that are doing the spoiling. Parents don’t want their children to be mad at them, so they try to be their best friends, instead of parents. I think some parents are trying to relive their own childhoods through their children and parents today are not willing to sacrifice their time to participate in the childrens lives. Most are left at home with tv and computers to entertain themselves with. I feel very lucky that I grew up when I did. I spent a year and three days grounded in my bedroom for rule violations. I got a month for every minute I was late, needless to say I value everyones time and are never late for anything…. Love u Dad!! LOL

  • raschid alweissi

    Dear Sirs,

    It is very interesting to see the Charts of Oil,Gold,Silver & other
    comodities,the shares goes up & down!? The estimated age of this
    Unique & wonderful Universe is between 13-14 Billion years,Life on
    mother earth might be some 20 to 50 thousand years old & here we
    are Nothing learned from the Past at all!? Same mistakes,Greed,Hate
    & endless Wars !? Why & what for? I remember Life atarted Kain killed
    his Brother Abel!? That was the begining, I wonder how the End will
    be!? who is going to kill whom!? Pity,but true,there is enough space
    & food for all,but there are the Good,that are willing to Care & share & there are the Ego,Greedy & selfish Monsters,in Human shape
    that never get enough!?Dear Sir,you know as I,that the Main problem on this Globe is:between HAVE & HAVE NOT,meaning: MASTERS & SLAVES!!? WHY? WHY? WHY? OK I agree,you might think of
    me as being nuts,OK I agree, but I learned that no one on this Globe
    can be a Life ,or happy ALONE,as to be a Life & Happy,we need the Others,who ever those Others are, I confirm, I love,respect & care for All people on this Globe whatever Race,Believe,Origin,or Colour,thetruth is None of us had the Choice to be whatever he is today,we simply were confronted with this Magical,Beautiful PRESENT & I guess ur duty is to live & be together in peace,love & understanding too.I know I am as stupid as SOCRATES,or Platon,where they dremed of the wished Perfections-Utopia,forgive me it is now 06:00 hours in the Morning in Germany,but do wish you great success for peace & remain with kindest wishes & regards

    • DaveH

      Raschid,
      I believe that Libertarian ideology is the best answer to achieve your goal. It would eliminate a lot of the trouble we have now with the people fighting for whose turn it is to feed at the trough.
      If you’re interested, here is a free online book to learn their philosophy:
      http://mises.org/rothbard/foranewlb.pdf

    • eyeswideopen

      Raschid, I lived in Weisbaden, Germany from 65 to 68. Absoutely loved the city, and people were somewhat divided on liking us Americans. We tended not to honor their customs and made fools of ourselves quite often. My father insisted that we not wear jeans or pants on Sundays as their women didn’t. He was determined that we would not be the ugly Americans. Our landlord could not get over the fact that all four of us took daily baths, so my father made us bathe every other day. I saw that your healthcare was rated very high in the world standings. Do you like it? Thanks for your prayers we certainly need them. Does your country exhibit racial bias now?

  • http://mantarojcl@yahoo.com Julio C. La Torre

    I really enjoyed reading your article and all the commentaries. It was lots of fun.

    • John Myers

      Thank you Julio,
      Best,
      John Myers

  • American Citizen

    Eyes, yes the Muslims do believe in “a God” but it is not the God of Christians. Our God sent His son to take our sins upon Himself and die a horrible death on a cross for us to free us. It is up to us to either accept or reject Him and His gift.

    As for the Muslims being a violent people, history proves this. There are terrorist cells in this country right now waiting for the right time to act. That’s why the present administration is so scary. It is going after the people who protect us instead of the terrorists. They think of them as misguided people who only need to talk to us and it would change their minds. Hasn’t worked so far.

    • eyeswideopen

      American, you need to check history. The Christians were involved in wars during the 11th, 12th and 13th centuries, trying to take back the “Holy Land” What about that wonderful Christian saying about that sliver in your own eye? The Christians are a violent people also. Have you forgotten a bunch of us Christians mistakenly judged, and then forged a war on innocent people, who were not involved in the 9/11 attack? Let’s not talk about the “special agents” we have all over the world, who are doing covert actions as we speak. Other countries view them as terrorist cells.

      • American Citizen

        Eyes, of course the Christians were involved in the “Holy Wars” trying to take back the lands the Muslims had conquered. But it was the Muslims who started them, just as they started the war we are fighting in the Middle East right now. Maybe you want to bow to Mecca three times a day. There are such a thing as “just wars”.

        • eyeswideopen

          American, I hope you use this link as you really need to know that us Christians are not the pure driven snow angels that you think we are. this link is easy to read and will let you see right away, that we also attacked other Christians and Jews. No darling, just because I am realistic about my religion does not mean I’m not a good Christian, I won’t be bowing to Mecca, as you insulting suggested. Oh, it’s that hateful Christian superiority thing again. You are aware that the Christian faith is losing members and are experiencing a non growth period for approximately the past 7 years. The way you just slamed me I can see why! please see: http://enwikipedia.org/wiki/Crusade

  • John

    Water is not a dimishing resource. In case anyone hasn’t noticed, the earth is two-thirds covered with the stuff. It’s a simple matter of desalination and distribution. How hard can that be?

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