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Olduvai III: Catacylsm
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#235. The affordability crisis

#235. The affordability crisis WHAT’S REALLY HAPPENING What might be called the ‘consensus narrative of the moment’ is that our near-term economic prospects depend on the ability of central banks to tame inflation without tipping the economy into a severe recession. There are numerous complications, of course, but this is the gist of the story. What these […]

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A crisis of affordability

A crisis of affordability Western capitalist economies don’t really do shortages.  There are a few stand alone exceptions such as a music festival or a sporting event, where demand so outstrips supply that queues form.  But for the most part – as we saw last week with the eye-watering rise in wholesale gas prices – […]

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The oil glut and low prices reflect an affordability problem

The oil glut and low prices reflect an affordability problem For a long time, there has been a belief that the decline in oil supply will come by way of high oil prices. Demand will exceed supply. It seems to me that this view is backward–the decline in supply will come through low oil prices. The […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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