Fascinating and terrifying analysis, all of which rings true. I am led to question why your site bears the subtitle, "Overcoming the risks of economic and environmental collapse". It would seem that collapse is inevitable and cannot be overcome. Deployment of non-fossil-fuel energy resources is futile (unless it can be done immediately while we still have a viable economy) because building the new energy infrastructure is in fact dependent on a fossil-fuel based economy. [...]
By Warren Mosler and Philip Pilkington. The Eurozone has certainly seen better days. The mess is only getting messier. Leaked documents from within the Troika show the austerity programs to be an abject failure and yet European officials continue to consider them the only game in town. So, we contend that the periphery governments should have a credible exit strategy on hand and it is to this that we now turn.
Ireland After NAMA's view is that the Irish crash will be nearer to Japan’s experience than Finland, with property prices unlikely to rise to peak 2007 prices for at least another ten to fifteen years, and longer for some parts of the country. There are six reasons why.
Greek Progressive Economist Yanis Faroufakis sees progress in new discussions about Eurobonds by the bureaucrats in Brussels. But there are serious flaws in their proposals; chiefly that their plans require treaty changes which could not be delivered in the time left even if member states could be persuaded to agreed to them.
3. About inflation: This hyperinflation it´s impossible if the system is 100% insured. The system must provide by contract or insurance that all money inside the system is fixed to the euro and convertible So if you have 2.000.000 euros in internal liquidity that means that there is need to be 2.000.000 euros in insurance. This is why insurance companies exists. And this is why they like this business of new currencies - more sales of credit insurance. No need to put aside all those euros. This operations have much lower risk than the specutative " Credit default swaps". This is real business, real consummers, and the market prices nowadays are globally determined. These local communities will still be connected to the world and maybe will raise their exports.
1. The first receivers have an oportunity cost: it is called liquidity in euros. The last receivers have the most advantage. They don´t wait 30 to 90 days to receive the money from the buyers anymore. They don´t need to spend 10% in short term intere...