The price of oil is down. How should we expect the economy to perform in 2015 and 2016? Newspapers in the United States seem to emphasize the positive aspects of the drop in prices. I have written Ten Reasons Why High Oil Prices are a Problem. If our only problem were high oil prices, then low oil prices would seem to be a solution. Unfortunately, the problem we are encountering now is extremely low prices. If prices continue at this low level, or go even lower, we are in deep trouble with respect to future oil extraction. It seems to me that the situation is much more worrisome than most people would expect. Even if there are some temporary good effects, they will be more than offset by bad effects, some of which could be very bad indeed. We may be reaching limits of a finite world.
. . . → Read More: Oil And The Economy: Where Are We Headed In 2015-2016? By Gail Tverberg
Climate change aside, to survive, we would have to change the way we live…Totally. Not only would we have to shift our energy paradigm, but we’d have to share sustainable dwellings, land, electronics, transportation, everything.. or there simply wouldn’t be enough to go ‘round. People keep saying they want world peace and an end to war, but they aren’t willing to put all of humanity on the level playing field that is required in order to end the fighting. We must rid ourselves of the very concept of personal ownership. Most native peoples understood this.
. . . → Read More: Re-Imagining Prosperity: Why Being Paid A Living Wage Could Make Things Worse And What We Can Do About It, By Sophia Schooley
The effects of government-imposed austerity[iv], erroneously claimed to restore fiscal responsibility and restart economic growth, are a reflexive (or cybernetic[v]) reaction to protect the economic interests of wealthy elites at the expense of other citizens.[vi] The funding and operation of the public health system and the array of socioeconomic factors that ultimately ensure a nation’s health[vii] are damaged by austerity . . . → Read More: Public Health, Thermodynamics, And The Cat Food Commission, By Dan Bednarz
While most people are paying attention to Europe’s financial woes—and they are serious—there’s a lot of instability in other places…places you might think don’t matter much, but they do. In a world of global finance, global industry, global climate, and global instability, it all matters, as all of these systems are interconnected and inter-related. It’s been called “a perfect storm of catastrophic confluences.” . . . → Read More: Economy, Collapse, And The Interconnectedness Of All Things, By Gary Stamper
Election wars are masking the fiscal cliff that America is destined to drop off in early 2013, warns the Congressional Budget Office. History tells us our politicians will slowly drive America off the fiscal cliff and into a mid-1930s-style sinkhole. Why? Because no matter who’s elected, our dysfunctional government will continue to be driven by secretive super-PAC billionaires obsessed about either holding on to or regaining the presidency in 2016. . . . → Read More: Four Fiscal Cliffs Ahead And A Jobs War, By Paul Farrell
2012 will the year that the consequences of the choices made by nations of the so-called developed world will begin to truly manifest themselves in the economic realm . . . → Read More: This Is The Year When Developed Nations Must Choose Between Pain And Disaster, By John Mauldin
Already insolvent it will become ungovernable bringing about, for Americans and those who depend on the United States violent and destructive economic, financial, monetary, geopolitical and social shocks. If the United States today is already very different from the “super-power” of 2006, the year the first GEAB was published, announcing the global systemic crisis and the end of the all-powerful US, the changes we anticipate for the 2012-2016 period are even more important, and will radically transform the country’s institutional system, its social fabric and its economic and financial weight. . . . → Read More: Global Systemic Crisis: USA 2012/2016: An Insolvent And Ungovernable Country
A far-reaching, fundamental transition, such as the one we are discussing, is impossible without the ability to improvise, to be flexible—in effect, to be able to abandon who you have been and to change who you are in favor of what the moment demands. Paradoxically, it is usually the young and the old, who have nothing to lose, who do the best, and it is the successful, productive people between 30 and 60 who do the worst. It takes a certain detachment from all that is abstract and impersonal, and a personal approach to everyone around you, to navigate the new landscape. . . . → Read More: A Conversation About Europe With Dmitry Orlov
In this GEAB N°59 we will analyze in detail this new phase of the crisis as well as the deepening US debt crisis. Moreover, we will begin to present, as indicated in previous GEABs, our forecasts about the future of the United States between 2012 and 2016 (5) starting with a fundamental aspect of Euro-US relations (and more generally the global system that has been in place since 1945), namely the strategic and military relations between the US and Europe. We have estimated that by 2017 the last US soldier will have left European continental soil. Finally, LEAP/E2020 will present its recommendations, dealing this month with currency, gold, capital-based pensions, the financial sector, and commodities. . . . → Read More: 30,000 Billion US Dollars In Ghost Assets Will Disappear By Early 2013–The Widespread Discounting Of Western Public Debt