Globalisation

A Gesture from the Invisible Hand

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The claim that market forces will inevitably take care of energy shortfalls due to peak oil is common enough these days. Unfortunately for such optimistic notions, there’s reason to think that in an environment of economic contraction caused by geological limits to energy, market forces may well push money away from any investments that could help the situation.

The recession is dead … long live the recession!

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The world’s first peak-oil recession has come to a close, according to third-quarter numbers invented by the federal government. Apparently dumping trillions of dollars onto big banks, insurance companies, and automobile manufacturers interrupted the plummeting descent of American Empire. The stock markets skyrocketed expectedly. Predictably, so did the commodities markets.

Economic dominoes continue to fall

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Passing the world oil peak has had, and doubtless will continue to have, relatively little impact on the long-term price of gasoline. The economic implications of getting through the first half of the Oil Age have been much more significant, a trend that seems likely to continue until the collapse is complete.

The Himalayan Gas Tango

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Through September 2009, the government of India has issued a variety of statements designed to quell India’s long-lived China bogey. It has done so to contain what it calls panic and scare-mongering about alleged incursions over the India-China border by units of the People’s Liberation Army. The ‘incidents’ (as the Indian media like to call the events) have all occurred over India’s north-western border with China, in the mountainous Jammu and Kashmir state.

it’s the end of the world as we know it (…and I feel fine) (1)

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it’s the end of the world as we know it (…and I feel fine) (1)

Probably few saw this meltdown coming. We have come to view human progress as a given, and an ever growing economy and living standard as an entitlement.

Whither America without China?

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Someday, someone is going to ask me what happened to the United States – wasn’t it once one of the biggest economies in the world? I’ve already got my answer ready – we sold ourselves to other countries for flat-screened tvs and other plastic toys. And weirdest of all, for a long time, we actually thought we got the better of the deal.

Economics – March 30

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Obama’s Nobel headache: Paul Krugman
Peak oil and peak capitalism
It would be easier for Americans to get a handle on the financial crisis if they knew what it was about
In Levi factory town in Hungary, promise of globalization fades
Monbiot: Green oil may buy us new deal for environment — but at what price?