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

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Oil and Energy in 2012.

This Radio WORT-FM broadcast included a “stellar” guest list including. RICHARD HEINBERG, DMITRY ORLOV, NICOLE FOSS, and JAMES H KUNSTLER. Dmitry Orlov left early and Naom Chomsky took part. His sections have been removed from the replay below. The complete podcast can be found at ; http://archive.wort-fm.org/ Look for the Jan 2 “A Public Affair” podcast

Dmitry Orlov’s response to the programme can be found at ; http://cluborlov.blogspot.com/  “A Dismal Public Affair”.

Some very salient points on TAR SANDS, ENERGY FUTURE, ECONOMIC GROWTH.

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Remember to replay this in 12 months time……

Nicole Foss on finance and bubbles

This is the first film of 5 produced by Nicole Foss about the Peak Oil and Economic Crisis we are currently facing. The other 4 are in the main body of the post. The Automatic Earth’s co-editor Illargi has an interview in the “Words” section as an MP3.

In the new economy there were 3 types of people                                                
The have’s,                                                                                                                     The have not’s,                                                                                                              And the have-not-paid-for-what-they-have’s.        

Satyajit Das ; “Built to Fail”                                                      http://www.themonthly.com.au/nation-reviewed-satyajit-das-comment-built-fail-1544

The following post features extracts from a Nicole Foss article in TAE from 2009 http://theautomaticearth.blogspot.com/2009/07/july-1-2009-renewable-power-not-in-your.html  called “Renewable Power? Not in your lifetime.” calling on Nicole’s insights into her knowledgr of power systems and international finance.

It should also be remembered that a United Nations Report from February 2011, the “World Economic and Social Survey 2011” has put the financial cost of “repowering” the Green economy with renewables at between $15-20 TRILLION. This is discussed in the second post on this blog

https://awayfromitall.me/2011/09/28/the-green-economy-can-the-current-growth-system-be-the-basis/#more-12

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