Debt Rattle April 11 2017

[Raúl Ilargi Meijer]

Carole Lombard 1934   • 54% Of Canadians Think Home Prices Will Never Fall (BNN) • Wild Housing Speculation Drives Entire Canadian Economy (WS) •
[See the full post at: Debt Rattle April 11 2017]

[Ken Barrows]

Well, creation of money is in theory infinite, but it seems Mr. Mitchell is placing his bets that debt can perpetually increase faster than output. For now, austerity can (and maybe should) be postponed. Forever? I don’t think so.

[Patricia]

I suppose, Ken, it all depends on how you administer any stimulus. If it relates just to consumption then, in my view, that is not necessarily a good stimulus but if it relates to infrastructure it is a good stimulus. At the moment all the PTB seem to do is liken a countries management of money as similar to a household when it is nothing like that. Every Government in the world it seems, presents that mantra in order to promote austerity in everything, except housing of course. When, in reality, it is just a neo liberal way of deluding the people to believe that austerity is necessary in order to reduce Government activity in running a country. I believe we are heading back to the poverty stricken era of the late 1890s early twentieth century.

[Ken Barrows]

Patricia,
Not all infrastructure investment is good investment. I support the argument that industrial society really doesn’t pay for itself. Stimulus for permaculture might be a good idea, for cars not so much. Stimulus to prevent people from starving is also a good idea. Austerity may be preached but government budgets suggest a lot of interests are reaping a windfall.

[Nassim]

Here is the current data for electricity production from the fantasy world of South Eastern Australia.

You will note that almost all the electricity is coming from fossil fuels – despite the massive expansion of the wind-turbine capacity. The average capacity factor of the wind-parks is under 5%. Several of the fossil fuel plants are running at over 100% of rated capacity.<br>

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Here is the website containing this live data. They are actually proud of this stuff.

I recently attended an energy meeting organised by young Australian engineers. I have never met such an ideologically committed group of idiots in my life. They really believe that the power that brought captain Cook to Australia is the future.

[Nassim]

China, Brazil, India and South Africa have urged industrialized countries to honor financial commitments made in Paris in 2015 to help developing countries fight against global climate change, they said in a statement on Tuesday.

Nothing is more certain to bring out the organised demonstrators – wearing identical clothing and carrying identical posters – than the threat of derailment of their gravy train.

China consumes half the world’s coal and has not promised to _begin_ reducing its emissions until after 2032. Meanwhile, they expect a good slice of the $100bn that Obama promised in Paris

[Dr. Diablo]

Who are these rich countries of which they speak? Retail is collapsing here, and with it, further jobs.

If they’d like to tax just San Francisco, Greenwich and the other idiots who support this, I’m all for it. But I suspect they really want to pay is Akron, Detroit, and Indianapolis. Gosh, I can only dream of buying a new hoodie or being able to afford a new sign or maybe a bus trip. –Sigh–

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