Peak Oil Impacts: "Millions face shrinking Social Security payments," By Stephen Ohlemacher, Associated Press, August 23, 2009

"Millions of older people face shrinking Social Security checks next year, the first time in a generation that payments would not rise.

The trustees who oversee Social Security are projecting there won't be a cost of living adjustment (COLA) for the next two years. That hasn't happened since automatic increases were adopted in 1975."

(VIEW FULL ARTICLE HERE)

"Insiders Continue to Sell, Sell, Sell," Seeking Alpha, August 14, 2009

"We have to send a tip of the hat, to ultra popular finance blogger at Zerohedge.com for alerting us to the huge number of insiders who are selling off stock in their companies."

(VIEW FULL ARTICLE)

Blog Comment: Many Wall Streeters know about Peak Oil. Neil King Jr. at "The Wall Street Journal" gave a talk last year at the annual ASPO conference. Two years ago I sent him my Peak Oil impacts report. He wrote back and said he would read it. I wrote back and suggested that he forward the report to his editors, as it would make writing about Peak Oil easier for him. I have posted my Peak Oil impacts report in comments on financial blogs, including those at "The Wall Street Journal" and "Financial Times," and it has been posted on Engerybulletin.net. Bart Anderson at Engergybulletin.net informed me that this article on Peak Oil and the economy had 3,783 unique page views. Another article on Peak Oil and the economy was likely as popular and has been posed on many blogs. We can conclude that many insiders know about Peak Oil.

"Obama says many months before U.S. exits recession," Reuters, August 1, 2009

"President Barack Obama warned on Saturday it would take "many more months" for the United States to get out of recession even after GDP figures showed the economy shrank only modestly in the second quarter."

(CONTINUED HERE)

"The Indendent" (London) Warns about Peak Oil

Peak Oil is now, not a decade away as "The Independent" indicates. According to most independent sources, global oil production peaked in 2008. "The Independent" relies on the optimistic IEA for forecasts. But the IEA is NOT an independent agency, as it tends to speaks for global oil and industrial interests. But the IEA indicates that "the oil crisis begins to grip after 2010."

What are your local, state, and federal governments planning for? Chief Economist Fatih Birol at the International Energy Agency warns that “many governments appeared oblivious to the fact that the oil on which modern civilisation depends is running out far faster than previously predicted...” Birol sees a supply crunch within the next few years that will jeopardize hopes of an economic recovery.

The IEA is one reason that governments are oblivious. The IEA has been downplaying Peak Oil for years, and still is in saying that Peak Oil is 10 years away.

Global oil production peaked in 2008 and depletion is steeper than the "The Independent" indicates.