We are entering the age of pure capital destruction and yes this is counted as GDP! In fact the whole taking apart of our "oil" economy will be "growth". Spme people will get rich but not many.

 This is a well known process for anyone who has participated in a company liquidation or rather the phase just before liquidation when you sell all your assets to stay afloat and pay the bills. This usually doesn't last very long and unless you can find fresh capital, it always ends the same way.

World's largest cruise ship heads straight from shipyard to junkyard after German company goes bust

A tragedy on the high seas!

In a bleak financial and maritime saga, the nearly-completed mega cruise ship Global Dream II will never take to the high seas, and instead will be scrapped — because its builder ran out of cash, and no one wants to buy it, The Guardian reports.

Once destined to each hold 9,000 seaward travelers, Global Dream II and its sister ship, Global Dream, would together have been the top record-holders for largest cruise ship by passenger capacity, and sixth in the world by size.

But those dreams were shattered when German shipbuilder MV Werften filed for bankruptcy back in January of this year, and lacking the funds to finish the colossal cruiseliner themselves, the company sought a buyer for the hulking vessel.

Alas, there were no takers, and now the company is forced to throw the boat out with the bathwater. MV Werften reportedly sold its facilities to a German naval unit, which according to Guardian will now use the establishment to build military ships — but unfortunately, since Global Dreams II isn't outfitted for war, the 260,000 ton boat will be removed from the marina and sold as scrap metal.