economic growth

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Steve St. Angelo: Prepare For Asset Price Declines Of 50-75%

When the debt bubble pops, it's taking everything with it
Monday, July 3, 2017, 4:00 PM

Any sense of prosperity in today's economy is based on a falsehood, claims Steve St. Angelo, proprietor of the SRSrocco Report website.

Like we here at PeakProsperity.com, Steve is a student of energy. He shares our worldview that net energy per capita has been in steady decline, and a result, future growth will be limited. Also like us, he notes that the "growth" seen over the past several decades hasn't been due to surplus net energy (which makes being able to do more possible). Instead, it has been fueled by debt  -- which essentially steals prosperity from the future and consumes it today.

Any third-grader with a crayon can quickly tell you that kind of scam can't last forever. And it can't. Once the can can't be kicked any further and the next economic and/or financial crisis is upon us, Steve sees today's over-inflated asset prices quickly dropping by a gut-wrenching 50-75%. » Read more

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The Way To Save Ourselves

Why a shift in consciousness is essential now
Friday, May 12, 2017, 9:02 PM

It’s time to be blunt: Humans are headed towards disaster. 

Most of us already know this.  Some consciously, others unconsciously.

No matter if it's consciously or unconsciously, everybody who ‘knows’ that something is terribly wrong is correct. » Read more

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Where There’s Smoke...

...There’s central bank manipulation
Friday, April 21, 2017, 8:26 PM

Many questions surround the elevated financial asset prices we are faced with today.

I'm talking not just about the sky-high prices of stocks and bonds, but also of the trillions of dollars’ worth of derivatives that are linked to them.  All are intricately linked together. For instance, stocks are elevated, in part, because bond yields are so low. 

These questions are important to consider because -- if central banks have been too involved and gotten themselves mixed up in trying to ‘wag the dog’ by using elevated financial asset prices as a means to drive economic expansion -- then the risk is a big implosion in financial asset prices if their efforts fail. » Read more

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James Howard Kunstler: The World's Greatest Misallocation Of Resources

And why we appear poised to repeat it
Sunday, January 22, 2017, 2:11 PM

James Howard Kunstler returns to the podcast this week, observing that despite the baton being handed to a new American president, the massive predicaments we face as a society remain the same. And it seems the incoming administration is just as in denial of them as the old.

Kunstler adds fresh critique to his now decades-old warning that we are sleepwalking our way deep into the Long Emergency. The longer we delude ourselves and waste our energies in pursuit of reviving the failed "endless growth" model, the farther our journey back to a sustainable way of living will be when our current system collapses. » Read more

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Shaun Chamberlin: Surviving The Aftermath Of The Market Economy

What we'll need to persevere through collapse
Sunday, January 8, 2017, 1:23 PM

Historian and economist David Fleming undertook the writing of Lean Logic a grand vision that projected out the likely path of collapse for our currently unsustainable way of life, as well as the key success factors society will need to cultivate to come out the other side.

Following his death, his writing partner Shaun Chamberlin distilled the book's prime conclusions into the more accessible Surviving The Future: Culture, carnival, and capital in the aftermath of the market economy. Shaun, who has also been deeply involved with Rob Hopkins in the Transition Movement since its inception, stresses that localized communities that pursue developing as much independence from the central economy as possible will be the foundations for entering a sustainable, enjoyable future. » Read more

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When This Ends, Everybody Gets Hurt

And the end is uncomfortably close
Wednesday, January 21, 2015, 11:45 PM

Central bank credibility (as fictitious as that may be) is essential to maintaining the current narrative, BUT central banks are rapidly losing their credibility (which should have happened simply via deductive reasoning a long time ago) and the strains are showing.

Their actions are increasingly wild and extreme, and it's our view that 2015- 2016 will mark the end of this long run of overly-ambitious central bankers and over-complacent markets. » Read more

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Oil And The Global Slowdown

It's time for central banks to admit their failures
Wednesday, December 3, 2014, 8:08 PM

The world economy is slowing down and the authorities are fretting. 

Japan, Italy, Greece and Austria are all in recession.  China is slowing down according to their official statistics, and even more according to the whispers. 

Germany, France and the Netherlands are all at stall speed. 

The US is, according to the BLS, doing just great at nearly 4% growth, but you wouldn't know that from either the quality of the few jobs being created (which is low) or consumer spending (also low).  » Read more

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The Environment: Depleting Resources - Crash Course Chapter 23

Why scarcity will define the future
Friday, November 28, 2014, 3:44 PM

The bottom line is this: we, as a species, all over the globe, have already mined the richest ores, found the easiest energy sources, and farmed the richest soils that our Environment has to offer.

We have taken several hundreds of millions of years of natural ore body, fossil energy deposition, aquifer accumulation, soil creation, and animal population growth -- and largely burned through them in the few years since oil was discovered. It is safe to say that in human terms, once these are gone, man, they’re gone. » Read more

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Peak Prosperity

Energy & The Economy - Crash Course Chapter 22

Why society will be forced to become less complex
Friday, November 21, 2014, 9:17 PM

In the past few chapters on Energy EconomicsPeak Cheap Oil, and the false promise of Shale Oil, we've gone into great detail to show how our economic growth is deeply dependent on our energy systems.

Understanding the known facts behind this story, as well as each of the stated risks is what The Crash Course is about: assessing those risks and deciding what, if anything, a prudent adult should do about adapting to these realities and facing these risks. 

 
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The Good News In All The Bad Data

A rare convergence of confidence in future developments
Friday, June 13, 2014, 1:14 AM

Today's financial markets make a mockery out of sanity and logic. The difference between what SHOULD happen and what IS happening is perhaps the greatest it has been in our investing lifetimes.

If you're perplexed, flummoxed, frustrated, stymied, enraged, bored, irritated, insulted, discouraged -- any or all of these -- by the ever-higher blind grinding of asset prices over the past several years, despite so many structural reasons for concern, you have good reason to be.