That which is unsustainable can not be sustained
None of us are ready for the chaos of the we are stoking, caused by the rapacious growth of what Kurt Vonnegut Jr. referred to as “thermodynamic whoopee”. You might know it as Global Industrial Civilization-GIC. This is the beginning of how the world will sort itself out for the next 20 years.
An energy conversion from fossil fuels will not be possible to an equal extent in all world regions before peak oil occurs. It is likely that a large number of countries will not be able to make the necessary investments in good time and to the required extent.
The communities that live around those festering wounds and the toxic pools know this. And their anger and disquiet is growing as is their numbers. From sanitation employees in Paris to farmers in Punjab.
Even under the threat of our mighty military the other economies and nations of the world will make alliances, some out of necessity and some out of short-term gain, but the harder we push the more defined the battle lines will be. Our ruling class wants us to believe we can win this energy transition war. By any humanitarian definition of “winning” they are lying. They think THEY can win this war. They are wrong.
The contemporary financial system is at severe and worsening risk because of the gargantuan scale of the ‘excess claims overhang’ that has been created on the false assumption that the creation of money and credit in their various forms (known to conventional economics as “demand”) can somehow expand the real economy of goods and services. Demand can raise prices but demand can not create more oil in the ground.
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