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Well I do rumors are circulating that the Saudis have already hit peak and are currently shoring up their reserves to keep economic stability. From most understandings the "easy oil" is now on a decline there.
Oddly though we and everyone else leave a shit load of oil in each and every site. Apparently we only pull out a bit more than a third or so. After that apparently it is much harder to get. Seems like an easy bailout to just go after those sources yet again, though oil use is expanding on such a scale that even if we went after those trillions or barrels the depletion situation would still remain the same only buying everyone a little more time.
As for the whole dollar situation. That is just a correction and a series of small fuckups that made a giant fuckup. To much credit, to many shady loan practices, to many shady banks trying to grab bucks and giving loans to those with a pulse, and of course the Government doing its best to prevent their banking friends from taking that big of a hit. Though the lending issue is way beyond the scope of the US. It will be felt elsewhere as the banks readjust. Very few of these banks are or were US banks only and they were giving out just as shoddy of loans in other countries and causing wide spread real estate inflation.
Though I still see the dollar rebounding yet again like it did in the 80's when it seemed as if Japan was the new super power money wise and the dollar was ranked near toilet paper.
People do back the dollar for many reasons though. The US is really built on enterperners and those businesses are always huge on a global scale. It is also supported by the strongest and most well equipped military force on the planet and on top of that there is very strong Government stability. We as a country do have the right businesses, more than enough resources, and tons of consumers willing to buy anyone's goods.
Far from super knowledgeable in economics and also posting under the influence of many drugs right now so please forgive any glaring mistakes.
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