Greed, Fear and a $1 Quadrillion debt.

Max Keiser “On the Edge” interviews Nicole Foss from “the automatic earth” explain ‘austerity’ and the necessity for banks and governments to sell assets in a vain attempt to collateralise the existing $1 quadrillion derivative debt. The impossibility of this happening in a flatlining global economy will re-ignite the fear that stopped the world in 2008.

“They can’t get ahead of the curve; everything they’re doing is too little too late, and when fear is in control then you have a downward spiral and it won’t stop until deleveraging has run its course. Until the small amount of remaining debt is acceptably collateralized to the few remaining creditors, and we’re absolutely nowhere near that point at the moment, we’re far closer to a top than a bottom.”

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Nicole Foss has also presented a ‘book length’ article, one of the most comprehensive I have read explaining why a global transformation to renewables is not going to happen.

Renewable Energy: The Vision And A Dose Of Reality