I appreciate your viewpoint, Scanner -- and you may turn out to be correct. But the current mania surrounding oil and gold and silver is mostly about 3 things: (1) financial panic, (2) the cyclical downturn of the dollar, and (3) massive speculation. All temporary things.
Your concern about the long-term... well, people adapt. Since we can't see the big solutions and changes coming in the future, our natural inclination is to extrapolate the current situation as far as we can see. If there is no innovation between now and 2050, sure, we have an unbearable crisis on our hands. But betting against innovation and unexpected change is a losing strategy.
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