Saturday, September 8, 2012

Economic Implosion is only one Factor in Our Demise

With no rebound in sight, there’s never been a slump like this - The Globe and Mail

The focus here is on the usual neoliberal casino economics of financialization, not the real, industrial economy. And an important context for such a continuing set of stagnant global economic conditions is glaringly absent in this limited analysis. It's much worse than what is suggested here.

Add to the mix the following: 1) the reality of peak oil - oil being the major energy driver of the economy - 2) potential water wars and 3) global food crises, both these largely because of climate change resulting from global warming, about which we continue to do nothing significant, 4) environmental and, when possible, reparation costs necessitated by the irreparable destruction caused by global warming.

Fantasize if you must that some technological innovation will come along and save us all, but the reality is no alternative energy source or distribution infrastructure is imminent, and there is certainly no political will on the part of either corporations or governments to change or abandon the current neoliberal practices in place.

Get ready.

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