Debt Rattle October 24 2017
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Bill Brandt After the celebration 1934 • Everything We Think We Know About Chinese Finances is Wrong (Balding) • China’s Greatest Vulnerabiliti
[See the full post at: Debt Rattle October 24 2017]A lot of articles these days, including many on TAE, focus on energy, the economy, why it is not growing as it should (!?), and growing inequality. This article by Nafeez Ahmed on Insurge Intelligence gives, one of the most comprehensive and concise explanation:
Inside the new economic science of capitalism’s slow-burn energy collapse: And why the struggle for a new economic paradigm is about to get realThese extracts provide a taster
Axiom: Aggregating this data together reveals that the world’s fossil fuels overall experienced their maximum cumulative EROI of approximately 44:1 in the early 1960s.
Insight: At this rate of decline, by 2100, we are projected to extract the same value of EROI from fossil fuels as we were in the 1800s.
“… advanced capitalist societies have entered a phase of declining marginal returns — or involuntary degrowth — with possible major effects on the system’s capacity to maintain its present institutional framework.”
Axiom: Complex civilizations tend to accelerate the use of resources, while diminishing the quantity of resources available for the civilization’s continued expansion — because they are continually being invested in solving the new problems generated by increasing complexity.
Insight: The US economy, he shows, appears to have reached “the peak in productivity in the 1930s, the same period in which the EROI of fossil fuels reached an extraordinary value of about 100.”
But what we can know for sure from the new science is that the era of unlimited economic growth — the defining feature of neoliberal finance capitalism as we know it — is well and truly over.
Plenty of insightful graphs given in the article, all in all, a must read article that goes to the heart of the predicament facing society today, something our political and economic elites appear to be unaware of, and those that do are afraid of sharing it with their citizens.
Krieger is spot on. This is the trend of the future. As things get worse and worse, more people are going to start saying “To hell with this. Nobody up there is looking out for me. Let me join with my neighbors and let us find a better way. Let us secede.” In years past after every presidential election, there has a disappointed group that declares they are ready to move to Canada. And every time the disaffection seems stronger than before, and now after the last election a few actually seriously started to talk about secession. This is natural, and I expect it to grow, and to eventually go mainstream.
Maybe this is good, though one must wonder why the case wasn’t brought before a UK court.
Because the UK does not want to reveal its own dirty linen. While the US can prosecute British banks, the reverse is not true. Neither country will prosecute its own.
I guess that is the price of being a vassal state.
Between 1982 and 1985, individuals whose identity is still not known today, carried out a series of attacks without financial motive in Belgium and North France, killing 28 people. They are known as the “Brabant Killers” or the “Band from Nivelles” (Bende van Nijvel). The preliminary inquiry judges, the Minister of Defense and a House of Representatives Commission of Inquiry clashed with NATO Top-Secrecy .
During the eighties, Nato organized a series of attacks in Europe based on the model applied later, in more recent years, with the jihadists.
The Belgian Authorities, which are taking these revelations very seriously, consider that this former police officer of an elite squad (Diane), fits the police sketches at the time. Checks confirm that he was not physically present at work when many attacks took place. The Belgian Investigating Judge is interrogating all the former colleagues of the deceased suspect. The witness also revealed that two other former members of Squad Diane came to visit the suspect at his home. The witness also revealed that two other former members of Squad Diane had come to visit the suspect at his home.
News on the Brabant KillersInteresting to see how the local news (in English) skips on the NATO connection. In fact, it is not even on the front page.
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