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.
From The Independent: Capitalism as we know it is over. So suggests a new report commissioned by a group of scientists appointed by the UN secretary general. The main reason? We’re transitioning rapidly to a radically different global economy, due to our increasingly unsustainable exploitation of the planet’s environmental resources and the shift to less efficient energy sources.
Jason Hickel, Foreign Policy: Many policymakers have responded to ecological breakdown by pushing for what has come to be called “green growth.” It sounds like an elegant solution to an otherwise catastrophic problem. There is just one hitch: New evidence suggests that green growth isn’t the panacea everyone hopes for. In fact, it’s not even possible.
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.
Nature, money, work, care, food, energy, and lives: the seven things that have made our world and will shape its future. Award-winning writer and activist Raj Patel makes the case that in making these things cheap, modern commerce has governed, transformed and devastated the earth. Also included, an interview with Patel and co-author Jason Moore.
Here are three leading observers on the world’s increasingly shaky energy situation. Minqui Li presents a through-going analysis of the global energy scenario from 2018-2050 based on the latest data, Kurt Cobb suggests that ‘peak oil’ maybe a process, rather than a event, while Chris Martenson issues a stark warning on the coming oil crash.
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.
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.
Alberto Villarreal writes: Trade deals affect people’s everyday lives from the food we eat to the energy we use, and should not be discussed behind closed doors. And yet, this is exactly what is happening at this year’s upcoming World Trade Organization meeting in Buenos Aires from 10-13 December. Also, Noam Chomsky on the WTO.
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.
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.
Kurt Cobb writes: We’ve created a world of low-maintenance objects which are low-maintenance merely because they are disposable… Philosophers bemoan our love of material things. But I believe that we modern, industrialized people don’t actually love material things. We wouldn’t treat material things the way we do if we truly loved and cared for them.
New scientific research is quietly rewriting the fundamentals of economics, showing decisively that the age of endlessly growing industrial capitalism, premised on abundant fossil fuel supplies, is over. The long-decline of capitalism-as-we-know-it, the new science conclusively shows, began some decades ago, and is on track to accelerate well before the end of the 21st century.
From Slate.com: Industrial civilisation’s impact is so massive that it goes way beyond climate change. Earth scientists now suggest that it is creating a distinct geological layer made of ‘technofossils’. The scale of our stuff is so gargantuan, that it is throwing off the quite robust balance of our natural systems—that’s how powerful it is.
From BBC: A recent episode of Newsnight, BBC’s programme on ideas, had a surprising guest: Anthropologist Jason Hickel, who went on to make a case against the lethal addiction to economic growth and in its place proposed “planned de-growth”. Hickel is the author of The Divide: A Brief Guide to Global Inequality and its Solutions.
We should expect financial collapse quite soon – perhaps as soon as the next few months. Our problem is energy related, but not in the way most experts have claimed. It’s much more related to the election of President Trump and to the Brexit vote. Most people don’t understand how interconnected the world economy is.