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debt

Bernard Lietaer RIP

We were very sad to learn of the death on February 4 of Bernard Lietaer, a leading monetary reformer who had a great influence on members of Feasta’s currency group. He was the author of The Future of Money and Money and Sustainability: the Missing Link. Our good wishes go out to his family and friends. …

End of the Oilocene: the roar of the oil-fizzle dragon king

"Ireland’s policymakers exist in an insulated bubble; congratulating themselves on reducing the debt-GDP ratio and high employment due to the sleight of hand of low corporate tax rates, " writes Tim Clarke. He argues that Ireland is hugely vulnerable to a global financial crash triggered by net energy decline, coupled with rapidly rising extreme global debts and many other factors: "Talk of a 'Celtic Phoenix' excites dull short memories, and another property bubble is in the making."

And the Weak Suffer What They Must?: Europe, Austerity and the Threat to Global Stability by Yanis Varoufakis – review

This book is well worth reading if you're interested in how the Eurozone got into such a mess, although it ignores a very important source of financial instability - the relationship between money and energy - and it paints an overly rosy picture of the role that the US has played in the global economy over the past century. By Caroline Whyte.