We seem to be reaching limits on the amount of oil the world can extract, at prices OECD countries can afford to pay. There appears to be a real possibility that OECD’s oil consumption will continue to decline, and that OECD countries will continue to experience recession and debt contraction.

This could(will) all end very badly (humans, the planet will rejoice). Banks, insurance companies, and pension plans would be adversely affected if debt is not repaid as promised. At some point, the financial system and international trade would appear to be at risk of disruption. Both Tainter (The Collapse of Complex Societies) and Meadows (Limits to Growth) describe adverse scenarios, in which all systems seem to deteriorate at the same time. While we don’t know for certain (Us DirtyFuckinHippies are certain ) that the outcome will be of this type, we should be considering this possibility (and everyday that the Wealthiest
don't consider makes it all the more certain).

Some have suggested that a steady state economy can be developed which will prevent collapse, and allow the world to live at a lower but acceptable level. Research is needed as to whether this is really feasible. It may be that the population which can be supported with a steady state economy does not differ materially from a collapse scenario.