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The Biggest Risks of This Decade
The Biggest Risks of This Decade Since the 2020 pandemic, many things have changed, but nothing more than geopolitics. Wars and clashes that used to be largely national have given way to more regional conflicts that threaten to upend the current world order. The Ukraine War and Israel-Iran conflicts have the potential to lead to […]
Economy Plunges into Stagflation with Both Feet
Economy Plunges into Stagflation with Both Feet Talk about a one-two-three punch to the ground! Stagflation came in perfectly on target for The Daily Doom’s predictions today. Real GDP is now falling much harder than was expected yesterday by two-faced Jamie Dimon when he spoke out of his second face, saying the economy is “booming,” backed by “healthy consumer finances.” He […]
Expect Big Negative Revisions to BLS Monthly Jobs in 2023, GDP Too
Expect Big Negative Revisions to BLS Monthly Jobs in 2023, GDP Too Yesterday, the BLS released a little-read jobs report that shows reported jobs in 2023 may be wildly overstated. In turn, that means GDP is likely overstated as well. Business Employment Dynamics (BED) data and and Monthly Job Data both from the BLS, chart […]
The Great Growth Hoax
The Great Growth Hoax For several days, ever since the supposedly amazing GDP report from quarter four 2023, we’ve been blasted by the media about how great the economy is doing. It’s exasperating because these claims do not fit with human experience. Last we heard from the Census Bureau, real income is down, and no […]
Financing the End of Modernity
Financing the End of Modernity How financialization heralds the end of the industrial age That didn’t worked out as intended… Who would’ve thought? Photo by micheile henderson on Unsplash Western neoliberal economies are on the brink of a steep economic decline. Barring an energy / productivity miracle a prolonged and deep recession is clearly on the horizon. While […]
The Vital Connection Between Oil and the Economy Revealed in 2 Simple Charts
The Vital Connection Between Oil and the Economy Revealed in 2 Simple Charts
The devil is in the detail
The devil is in the detail If you get your news from the BBC, you might be forgiven for thinking that the economic hit from the pandemic lockdowns and restrictions has come to an end. Indeed, if you merely skim through the headlines in your social media feed, you might believe that the UK is […]
Degrowth economy: The climate solution no one is talking about
Degrowth economy: The climate solution no one is talking about For all the talk of renewable energy, electric vehicles and plant-based diets, there’s a gaping hole in the way we’re trying to solve accelerating climate change. We will not stay below 2°C of warming while pursuing economic growth — yet barely anyone talks about it. […]
#220. The human factor
#220. The human factor CONTINUITY, CONTRACTION OR COLLAPSE Over an extended period, but with growing intensity in recent times, there has been a discussion, here and elsewhere, about whether we can prevent economic contraction from turning into collapse. This is part of a broader debate in which every point of view seems to begin with the letter C. The […]
The Tragedy of Growth
THE TRAGEDY OF GROWTH To protect wellbeing and avoid ecological disaster we must abandon GDP growth and transform our economic system Critiques of Gross Domestic Product (GDP) as a measure of economic progress are widespread. However ‘beyond GDP’ narratives often seek to complement the dominant indicator with other measures of progress, aiming for ‘inclusive’ or […]
The funny-money game
The funny-money game The sense of general unease that I detect among those I meet and discuss economics and financial matters with is increasing —with good reason. Clearly, what everyone calls inflation, rising prices or more accurately currency debasement, will lead to higher interest rates, threatening markets which are unmistakably in bubble territory. The consequences […]
The Necessary Climate Solution No-one is Talking About
The Necessary Climate Solution No-one is Talking About For all the talk of renewable energy, electric vehicles and plant-based diets, there’s a gaping hole in the way we’re trying to solve accelerating climate change. We will not stay below 2°C of warming while pursuing economic growth – yet barely anyone talks about it. Since the end of […]
Capitalism Will Ruin the Earth By 2050, Scientists Say
Capitalism Will Ruin the Earth By 2050, Scientists Say The good news is, by cutting our consumption, there’s another way. IMAGE: GETTY IMAGES A spate of new scientific research starkly lays out the choice humankind faces in coming decades: By 2050, we could retain high levels of GDP, at the price of a world wracked by […]
Is the Green Deal a card shuffle trick?
Is the Green Deal a card shuffle trick? (NOTE; this is not an analysis of the US New Green Deal, it is about the “green growth” narrative with the European Green Deal as the point of departure.) The European Green Deal is a ”growth strategy that aims to transform the EU into a fair and prosperous […]
