FlyingHighNow: "Social structure, could explain more?"
I won't be using the word "intolerable" that I previously used because my definition is more stringent than that of the public. So let me try to elaborate instead.
When gas prices rose to $5 (here), there were reports of a police sheriff in a certain cities saying that he was not going to enforce eviction notices. If things would have gotten much worse, those notices would have been unenforceable. It would probably start a chain reaction of defaults, even among people who can still pay.
That means that most people will be living rent or mortgage free giving them the ability (for some) to get a measure economic relief and be able to purchase food and even some gas at inflated prices.
That could be called severe.
Catastrophic, however, is when relief for an extended crisis will not be forthcoming due to social infrastructure collapse. I'm speaking about the US, which is substantially buffered by its relative wealth and may be among the last nations to be effected. There will be far worse situations in the more impoverished nations first, progressing to the richer nations later.
This is the gist of my current predictions. Peak Oil and or severe Middle East unrest will be the first punch. It will probably be causing severe problems within 5 or so years.
The second punch will be Global Warming, which has already started to get progressively worse. To the extent that it is responsible for the crop failures throughout the world-->the escalating food prices-->the unrest in the Middle East where up to 40% of an Egyptian's salary goes to food. This will, as far as the US and other rich nations are concerned, synergize with the Peak Oil issue.
A one, two punch, in my unscientific wild ass guess, may knock us down within 10-20 years. I'm counting on 20 years for this situation. However, since I have a tendency to underestimate the gravity of problems in general, I picked 10 years just in case.
"Knock us down", to be a little more concrete, would be the severe weakening, perhaps collapse, of the Federal and most State governments.
I also predict mass depopulation of desert cities in New Mexico, Arizona, Nevada for sure, and Southern California. I could go on and on but I'm already a bit off topic.
Villabolo