{"id":24345,"date":"2017-07-04T05:56:41","date_gmt":"2017-07-04T10:56:41","guid":{"rendered":"http:\/\/olduvai.ca\/?p=24345"},"modified":"2017-07-04T05:56:41","modified_gmt":"2017-07-04T10:56:41","slug":"the-next-financial-crisis-is-not-far-away","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=24345","title":{"rendered":"The Next Financial Crisis Is Not Far\u00a0Away"},"content":{"rendered":"

The Next Financial Crisis Is Not Far\u00a0Away<\/a><\/h3>\n
\n

Recently, a Spanish group called \u201cEcologist in Action\u201d asked me to give them a presentation on what kind of financial crisis we should expect. They wanted to know when it would be and how it would take place.<\/p>\n

The answer I had for the group is that we should expect financial collapse quite soon\u2013perhaps as soon as the next few months. Our problem is energy related, but not in the way that most Peak Oil groups describe the problem. It is much more related to the election of President Trump and to the Brexit vote.<\/p>\n

I have talked about this subject in various forms before, but not since 2016 energy production and consumption data became available. Most of the slides in this presentation use new BP data, through 2016.\u00a0A copy of the presentation can be found at this link: The Next Financial Crisis<\/a>.1<\/sup><\/p>\n

\"\"<\/a><\/p>\n

Slide 1<\/p>\n<\/div>\n

Most people don\u2019t understand how interconnected the world economy is. All they understand is the simple connections that economists make in their models.<\/span><\/p>\n

\"\"<\/a><\/p>\n

Slide 2<\/p>\n<\/div>\n

Energy is essential to the economy, because energy is what makes objects move, and what provides heat for cooking food and for industrial processes. Energy comes in many forms, including sunlight, human energy, animal energy, and fossil fuels. In today\u2019s world, energy in the form of electricity or petroleum makes possible the many things we think of as technology.<\/p>\n

In Slide 2, I illustrate the economy as hollow because we keep adding new layers of the economy on top of the old layers. As new layers (including new products, laws, and consumers) are added, old ones are removed. This is why we can\u2019t necessarily use a prior energy approach. For example, if cars can no longer be used, it would be difficult to transition back to horses.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Next Financial Crisis Is Not Far\u00a0Away Recently, a Spanish group called \u201cEcologist in Action\u201d asked me to give them a presentation on what kind of financial crisis we should expect. They wanted to know when it would be and how it would take place. The answer I had for the group is that we […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[312,1233,1232],"class_list":["post-24345","post","type-post","status-publish","format-standard","hentry","category-economics","tag-financial-crisis","tag-gail-tverberg","tag-our-finite-world"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/24345","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=24345"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/24345\/revisions"}],"predecessor-version":[{"id":24346,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/24345\/revisions\/24346"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24345"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24345"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24345"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}