Money: the silent killer
The fact that most money is created on a basis of debt is putting hidden, but dangerous, pressure on the biosphere, argues Caroline Whyte.
debt
Ideologies of credit creation
Graham Barnes identifies five sources of credit creation and suggests some ways in which we could privilege the most desirable ones and discourage the others.
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.
Approaching a global deflationary crisis?
"Anyone with any sense for global economic trends ought to be worried. The signs are everywhere of a serious deflationary crisis. It is obvious that Chinese growth is falling" writes Brian Davey in another update to his book Credo. He goes on to describe four processes that are driving this crisis.
Greece’s Debt, a New Monetary System, and the Climate Negotiations in Paris
Mike Sandler's new blog post discusses the role played by debt-based money in the Greek financial crisis, and the reasons why a return to a gold standard wouldn't work, and goes on to propose some solutions. Mike will be representing Feasta, along with some colleagues, at the COP-21 summit in Paris later this year.
