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Gail Tverberg: Twelve reasons why globalisation is a huge problem

Globalization seems to be looked on as an unmitigated “good” by economists. Unfortunately, they miss the point that the world is finite. We don’t have infinite resources, or unlimited ability to handle excess pollution. So we’re setting up a “solution” that is at best temporary. Here’s why globalization is, in fact, a very major problem.

Information theory pioneer John Scales Avery on the planet’s converging crises

From Countercurrents.org: Human cultural evolution can be regarded as an enormous success in many respects. However, thoughtful observers agree that civilization is entering a period of crisis. As all curves move exponentially upward: population, production, consumption, etc, one can observe signs of increasing environmental stress, while the existence of nuclear weapons threaten civilization with destruction.

Brace for the coming oil, food and financial crash

Nafeez Ahmed writes: A new research study by HSBC on global oil supply shows that the bulk of the world’s oil production has peaked and is now in decline. Welcome to a new age of permanent economic recession driven by our ongoing dependence on dirty, expensive, difficult oil — unless we choose a fundamentally different path.

2017: The year when the world economy starts coming apart

Gail Tverberg writes: Underlying problems are sufficiently severe that we seem to be headed for a crisis far worse than 2008. Our fundamental problem is that neither high nor low energy prices are now able to keep the world economy operating as we’d like it to. Increased debt can’t seem to fix the problem either.

John Michael Greer: A sneak preview of the year 2017

As 2017 dawns, in a great many ways, modern industrial civilization has flung itself forward into a darkness where no stars offer guidance and no echoes tell what lies ahead… We’re not discussing the end of the world; events like those that can be found repeated many times in the histories of other failing civilizations.

What 12’financial experts predict for the economy in 2017

What lies ahead for the economy this year? Will there be a global economic collapse as predicted by many or will the early positive signs in stock markets around the world continue? While focused on the U.S., this compilation by Daisy Luther of forecasts by 12 leading experts has implications for the entire global economy.

Watch: ‘Anti-economist’ Steve Keen on why economists can’t be trusted

Steve Keen, Professor of Economics at Kingston University London, is a long time critic of conventional economic thought, and is also developing an alternative dynamic approach to economic modelling. In this interview with Steven Sackur on BBC HardTalk, he tackles the prospect for a debt-deflation on the back of the enormous private debts accumulated globally.

The richest 1% of Indians now own 58.4% of the country’s wealth

Live Mint reports: The richest 1% of Indians now own 58.4% of the country’s wealth, according to the latest data on global wealth from Switzerland based Credit Suisse Group AG. In the last two years, the share of the top 1% has increased at a cracking pace, from 49% in 2014 to 58.4% in 2016.

Trump or no, climate change action will take a beating from long-term economic forces anyway

Nagraj Adve writes: In any economy primed to continuously expand, technological improvements alone can only help so much. While being stunned by Trump’s victory, let’s neither underestimate  nor render invisible the inherent, long-term economic tendencies that prevent greenhouse-gas emissions worldwide from declining as the science demands they should. In fact, they may well rise again.

David Korten: From serving money to serving life: A sacred story for our time

When we get our story wrong, we get our future wrong. Much like the Trans-Pacific Partnership “trade deal”, everything we’re told about capitalism and our economy is a pack of lies. Time for a new story, says preeminent scholar and critic of corporate globalization, David Korten, the best-selling author of ‘When Corporations Rule the World’.

Report: The rise of the Right and climate catastrophe

Michael T. Klare writes: Nationalistic exceptionalism could become something of the norm if Donald Trump wins, or other nations put the needs of a fossil fuel-based domestic growth agenda ahead of global climate commitments. In its latest report, the Norwegian energy giant Statoil outlines a chilling scenario focused on just this sort of dystopian future.

Kevin Kelly on the 12 technological forces that will shape our future

We will soon have artificial intelligence that can accomplish professional human tasks. Our lives will be totally 100% tracked by ourselves and others. Much of what will happen in the next 30 years is inevitable, driven by technological trends already in motion, and are impossible to halt without halting civilization, says Internet pioneer Kevin Kelly.

Oil price and economic growth get married

Kurt Cobb writes: It used to be that oil prices and economic growth were somewhat like distant cousins who disliked each other rather than a happily married couple always seen nuzzling together in public. Nowadays, as the oil price dips into the low $40 range again and global economic growth weakens simultaneously, we must re-evaluate.

No economic bullets left? Satyajit Das on the end of growth

In this four part series titled No Economic Bullets Left?, former investment banker Satyajit Das sets out why it will be difficult for the world economy to get back to previous levels of growth. The first part looks at the failure of fiscal policies of governments around the world, and why available policy tools cannot address the underlying problems.

A Banquet of Consequences: A compelling critique of all that is wrong with the world economy

The essential argument of Satyajit Das’ new book is: “The 2008 crisis showed that perpetual growth is an illusion. It exposed the high debt levels, credit-driven consumption, global imbalances and excessive financialisation that underpinned an unsustainable economic model, coinciding with an emerging scarcity of energy, food and water, and increasing evidence of climate change impact.”

Peak Oil returns to haunt the global economy

It is a peculiar combination of technological, economic and geopolitical factors that has led to the present crash in oil prices, lulling many observers into dismissing peak oil. Through it all, the fact remains that the production of ‘conventional oil’, drawn mostly from established oil wells, has not gone up since its peak in 2008.

Satyajit Das: Eight triggers for a new financial crisis

Investment banker turned author Satyajit Das writes: There are a number of potential triggers to a new crisis, but it will not be a single factor but an unexpected concatenation of events that result in a financial crisis. With existing political elites seen as captured by the wealthy elite, electorates are turning to political extremes.

‘The Fourth Industrial Revolution’: What it means and how to respond

Klaus Schwab writes: A technological revolution is fundamentally altering the way we live, work, and relate to one another. In its scale, scope, and complexity, its unlike anything humankind has experienced before. We do not yet know just how it will unfold, but the response to it must involve all stakeholders of the global polity.

Connecting the rise of Donald Trump with global resource depletion

Ugo Bardi writes: Something like Trump was unavoidable. He is best defined as the visible effect of the ongoing social phase transition. A symptom of the ongoing breakdown of the social pact in the West. A discrete change in our path in the direction of collapse, in turn precipitated by depletion of resources, especially energy.

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