“We have now reached a new tipping point where enmities are more expensive in all respects than friendly collaboration; where planetary limits of exploiting nature have been reached. It is high time for us to cross this new tipping point into our global communal maturity — to evolve an ecosophy.” says evolutionary biologist Elisabet Sahtouris.
Finance & Debt
The science is telling us that the global economy will experience a depression as the reality of the coronavirus pandemic sinks in. Authorities pushing complacency as a short term financial panacea are doing an enormous disservice to the people. Instead, they should prepare to deal with a global depression while limiting the spread of the virus.
Over more than 40 years, Vaclav Smil has grown in influence, and is now seen as one of the world’s foremost thinkers and a master of statistical analysis. Bill Gates says he waits for new Smil books the way others wait for the next Star Wars movie. Smil’s latest is Growth: From Microorganisms to Megacities.
From Great Game India: At least two of the Big Four global corporate consultancies are reported to be directly involved in the big-ticket Kashmir Development Plan – Ernst & Young and PricewaterhouseCoopers. A pilot project was initiated in 2017 for the creation of a ‘Model Village’ in Kathua, Kashmir, based on a blueprint by PricewaterhouseCoopers
From The Guardian: Roasted by heatwaves, this year the world went into ecological overshoot on 29 July, the earliest yet. Unless we begin again with economics, understanding and letting go what has gone wrong, one day soon everything will have fallen apart and nobody will quite know why. But the answer will be: it was the economy, stupid.
Once the richest country in Latin America, today Venezuela lies in shambles, with food and medicine inaccessible to most, and sparking widespread protests and massive violence. In this interview, Venezeulan President Nicolás Maduro speaks on the politics behind the crisis, and specifically the role of the U.S. Also, an analysis by Marxist scholar Vijay Prashad.
From Global Research: Fundamentally, this book is a call to action. Author Robert J. Burrowes uncovers the critical role played by the global power elite in creating our present predicament. If we cannot persuade the global power elite to respond sensibly to that predicament, or nonviolently compel it to do so, humanity’s time on Earth is indeed limited.
Ten years after the global financial crisis, a debt-fuelled world economy is headed towards another crash, the IMF has warned. With the Rupee at a record low, unemployment at a 20-year high, and 78 of its largest corporations defaulting on massive debts, India’s rapidly emerging as the epicentre of a crisis that could dwarf 2008.
Reading about energy today, it’s easy to get the impression that our energy problem is a quality problem—some energy is polluting; other energy is hoped to be less polluting. There’s a different issue that we are not being told about. It’s the fact that having enough energy – quantity – is extremely important, as well.
In this keynote address delivered at the King Abdullah University of Science and Technology, the Post Carbon Institute’s Nate Hagens discusses how our lives will be influenced by how we react to the coming era of harder to extract and more costly fossil fuels that will be combined with cleaner but less concentrated energy types.
Kevin Anderson writes in The Conversation: Most political and economic pontificators, buttressed by naysayers and established elites, remain incapable of seeing beyond their familiar 20th century horizon. But the 21st century is already proving how the future is a different country –one that could yet be shaped by alternative interpretations of prosperity, sustainability and equity.
We know that economies need to grow, or they collapse. The wage disparity that high-wage countries have been experiencing in recent years is evidence that the world economy is already reaching energy limits. There are no longer enough jobs that pay well to go around. Any drop in energy supply will likely worsen the situation.
Shelley Kasli writes: Recent changes in India’s foreign direct investment policy allows 100 percent FDI (from current 49%) for single brand retail trading and construction, among others, paving the way for global players. In reality, India is being drawn into the spiral of debt economics to protect the American Dream from turning into a Nightmare.
From WSWS/Automatic Earth: Bitcoin has been hailed as the currency of the future; and dismissed as a bubble at best, or a tool for organised crime at worst. But one thing is clear; its soaring demand is a direct result of a broken global financial system trusted by nobody and on the verge of breakdown.
Devinder Sharma writes: In the 12-year period between 2004-05 and 2015-16, total tax concessions given by the Indian government to industry almost equals a whopping Rs 50-lakh crore. If these tax concessions were eliminated and the additional revenue generated was instead used effectively for social betterment programmes, India could have made hunger and poverty history.
Gail Tverberg writes: World leaders manipulate the world economy like a giant video game. The object is to keep it growing, but what do they do when the economy hits limits? They could take their foot off the throttle operated by low interest-rates and more debt. Or they could “take the wings off” the economy.
Whoever wins the Gujarat elections, its clear that as a political idea, the Gujarat development model is floundering, and may never be revived. It may have been a textbook case of what development should not be like, but given the powerful interests it serves, it’s still likely to haunt India’s policies for years to come.
From Shareable.net: An intriguing blueprint for a post-capitalist world is gradually being built in a converted spa in Barcelona, Spain. Founded by dissenter Enric Duran, the Catalan Integral Cooperative is a wide-ranging operation offering diverse services; including a financial co-op, food pantry and open-source tool workshop, all run on its own local currency —the eco.
A coalition of investigative journalists, privacy activists and alternative economy enthusiasts including Nafeez Ahmed, John Pilger and Barkha Dutt, have announced Presscoin/Insurge, a fascinating new hybrid platform that seeks to meld cutting-edge journalism with activism and alternative currencies. “Dedicated to people and the planet, it represents a fundamental break with the old paradigm,” Nafeez says.
Financial crises are happening more frequently, and the next panic is almost certainly brewing – mostly thanks to skewed government and central bank policies -according to research by Deutsche Bank. It comes as a warning to India, where the RBI has just approved a massive ‘recapitalisation’ programme to bailout banks struggling with ballooning corporate debt.