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.
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.
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 Journeyman Pictures: The financial storm of 2008 began brewing in when the US congress pushed the idea of home ownership for all. When it all went wrong, they opted for gargantuan bailouts for the big banks. This documentary offers fresh insight into the greatest economic crisis of our age: the one still awaiting us.
This review by Alice Friedmann of Nafeez Ahmed’s new book has 3 parts: 1) Why states collapse for reasons other than economic and political 2) How Bio-Physical factors contribute to systemic collapse in Syria, Yemen, Iraq, Saudi Arabia, Egypt, Nigeria 3) Predictions of when collapse will begin in Middle-East, India, China, Europe, Russia, North America
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.
Nafeez Ahmed writes: An extensive new analysis says that proved conventional oil reserves as detailed in industry sources are likely “overstated” by half. According to standard sources, the world contains 1.7 trillion barrels of proved conventional reserves. However, according to the new study, this official figure is almost double the real size of world reserves.
Lekha Sridhar writes: The picture that emerges is of India demanding climate justice from an unrepentant West, which happily belched out carbon emissions for centuries and now does not want to allow developing countries their fair share of the carbon space. However, the Indian media should steer clear from lionising India’s rhetoric on climate change.
Could India’s Coal Plans Derail the Global Climate? Tobias Engelmeier, The Energy Collective If India were to grow its electricity system based on coal (as China has done), would it derail the global climate? According to our calculations, under a “coal-heavy” scenario, India would need to increase is coal-fired power generation capacity from the 156
Bad loans will worsen if economy falters: RBI Indian Express The Reserve Bank of India (RBI) has warned that the asset quality of scheduled commercial banks may worsen from the current level if the macroeconomic conditions deteriorate drastically. The central bank’s latest Financial Stability Report has also raised red flag on connected banks triggering a
Iraq crisis: India braces for Rs 20,000 cr hole in budget as oil could rise to $120 per barrel From Firtsbiz.com India’s government sees oil prices going as high as $120 per barrel for three to four months because of fighting in Iraq, potentially driving a hole of at least Rs 20,000 crore ($3.4 billion)