Our Dependence On Oil Puts A Glass Ceiling On Economic Recovery, By Victoria Johnson

Our Dependence On Oil Puts A Glass Ceiling On Economic Recovery, By Victoria Johnson

Nov 12, 2012 | Energy Depletion

In a new report out today we explore the impact of sustained high oil prices on current prospects for economic recovery. We argue that economic prosperity is predicated on the availability of cheap oil. This is not just based on simple correlations. In recent years a number of economists have begun to re-write the very foundations of macroeconomic theory, demonstrating that energy plays the most important role in economic growth. This is supported by warnings in the past year from the IEA, IMF and G7 that high oil prices have likely been constraining economic growth and economic recovery from the recession.

30,000 Billion US Dollars In Ghost Assets Will Disappear By Early 2013–The Widespread Discounting Of Western Public Debt

30,000 Billion US Dollars In Ghost Assets Will Disappear By Early 2013–The Widespread Discounting Of Western Public Debt

Nov 29, 2011 | Economic Meltdown

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.