Best of the Week
Most Popular
1. TESLA! Cathy Wood ARK Funds Bubble BURSTS! - 12th May 21
2.Stock Market Entering Early Summer Correction Trend Forecast - 10th May 21
3.GOLD GDX, HUI Stocks - Will Paradise Turn into a Dystopia? - 11th May 21
4.Crypto Bubble Bursts! Nicehash Suspends Coinbase Withdrawals, Bitcoin, Ethereum Bear Market Begins - 16th May 21
5.Crypto Bubble BURSTS! BTC, ETH, XRP CRASH! NiceHash Seizes Funds on Account Halting ALL Withdrawals! - 19th May 21
6.Cathy Wood Ark Invest Funds Bubble BURSTS! ARKK, ARKG, Tesla Entering Severe Bear Market - 13th May 21
7.Stock Market - Should You Be In Cash Right Now? - 17th May 21
8.Gold to Benefit from Mounting US Debt Pile - 14th May 21
9.Coronavius Covid-19 in Italy in August 2019! - 13th May 21
10.How to Invest in HIGH RISK Tech Stocks for 2021 and Beyond - Part 2 of 2 - 18th May 21
Last 7 days
Overclockers UK Custom Built PC 1 YEAR Use Review Verdict - Does it Still Work? - 16th Oct 21
Altonville Mine Tours Maze at Alton Towers Scarefest 2021 - 16th Oct 21
How to Protect Your Self From a Stock Market CRASH / Bear Market? - 14th Oct 21
The Only way to Crush Inflation (not stocks) - 14th Oct 21
Why "Losses Are the Norm" in the Stock Market - 14th Oct 21
Sub Species Castle Maze at Alton Towers Scarefest 2021 - 14th Oct 21
Which Wallet is Best for Storing NFTs? - 14th Oct 21
Ailing UK Pound Has Global Effects - 14th Oct 21
How to Get 6 Years Life Out of Your Overclocked PC System, Optimum GPU, CPU and MB Performance - 13th Oct 21
The Demand Shock of 2022 - 12th Oct 21
4 Reasons Why NFTs Could Be The Future - 12th Oct 21
Crimex Silver: Murder Most Foul - 12th Oct 21
Bitcoin Rockets In Preparation For Liftoff To $100,000 - 12th Oct 21
INTEL Tech Stock to the MOON! INTC 2000 vs 2021 Market Bubble WARNING - 11th Oct 21
AI Stocks Portfolio Buying and Selling Levels Going Into Market Correction - 11th Oct 21
Stock Market Wall of Worry Meets NFPs - 11th Oct 21
Stock Market Intermediate Correction Continues - 11th Oct 21
China / US Stock Markets Divergence - 10th Oct 21
Can US Save Taiwan From China? Taiwan Strait Naval Battle - PLA vs 7th Fleet War Game Simulation - 10th Oct 21
Gold Price Outlook: The Inflation Chasm Between Europe and the US - 10th Oct 21
US Real Estate ETFs React To Rising Housing Market Mortgage Interest Rates - 10th Oct 21
US China War over Taiwan Simulation 2021, Invasion Forecast - Who Will Win? - 9th Oct 21
When Will the Fed Taper? - 9th Oct 21
Dancing with Ghouls and Ghosts at Alton Towers Scarefest 2021 - 9th Oct 21
Stock Market FOMO Going into Crash Season - 8th Oct 21
Scan Computers - Custom Build PC 6 Months Later, Reliability, Issues, Quality of Tech Support Review - 8th Oct 21
Gold and Silver: Your Financial Main Battle Tanks - 8th Oct 21
How to handle the “Twin Crises” Evergrande and Debt Ceiling Threatening Stocks - 8th Oct 21
Why a Peak in US Home Prices May Be Approaching - 8th Oct 21
Alton Towers Scarefest is BACK! Post Pandemic Frights Begin, What it's Like to Enter Scarefest 2021 - 8th Oct 21
AJ Bell vs II Interactive Investor - Which Platform is Best for Buying US FAANG Stocks UK Investing - 7th Oct 21
Gold: Evergrande Investors' Savior - 7th Oct 21
Here's What Really Sets Interest Rates (Not Central Banks) - 7th Oct 21
CISCO 2020 Dot com Bubble Stock vs 2021 Bubble Tech Stocks Warning Analysis - 6th Oct 21
Precious Metals Complex Searching for a Bottom - 6th Oct 21
FB, AMZN, NFLX, GOOG, AAPL and FANG+ '5 Waves' Speaks Volumes - 6th Oct 21
Budgies Flying Ability 10 Weeks After wings Clipped, Flight Feathers Cut Grow Back - 6th Oct 21
Why Silver Price Could Crash by 20%! - 5th Oct 21
Will China's Crackdown Send Bitcoin's Price Tumbling? - 5th Oct 21
Natural Gas News: Europe Lacks Supply, So It Turns to Asia - 5th Oct 21
Stock Market Correction: One More Spark to Light the Fire? - 5th Oct 21
Fractal Design Meshify S2, Best PC Case Review, Build Quality, Airflow etc. - 5th Oct 21
Chasing Value with Five More Biotech Stocks for the Long-run - 4th Oct 21
Gold’s Century - While stocks dominated headlines, gold quietly performed - 4th Oct 21
NASDAQ Stock Market Head-n-Shoulders Warns Of Market Weakness – Critical Topping Pattern - 4th Oct 21
US Dollar on plan, attended by the Gold/Silver ratio - 4th Oct 21
Aptorum Group - APM - High RIsk Biotech Stocks Buy, Sell, Hold Investing Analysis for the Long-run - 3rd Oct 21
US Close to Hitting the Debt Ceiling: Gold Doesn’t Care - 3rd Oct 21
Powell: Inflation Might Not Be Transitory, After All - 3rd Oct 21
Original Oculus VR HeadSet Rift Dev Kit v1 Before Facebook Bought Oculus - 3rd Oct 21
Microsoft Stock Valuation 2021 vs 2000 Bubble - Buy Sell or Hold Invest Analysis - 1st Oct 21
How to profit off the Acquisition spree in Fintech Stocks - 1st Oct 21
�� Halloween 2021 TESCO Shopping Before the Next Big Panic Buying! �� - 1st Oct 2
The Guide to Building a Design Portfolio Online - 1st Oct 21
BioDelivery Sciences International - BDSI - High RIsk Biotech Stocks Buy, Sell, Hold Investing Analysis for the Long-run - 30th Sep 21
America’s Revolving-Door Politics Behind the Fall of US-Sino Ties - 30th Sep 21
Dovish to Hawkish Fed: Sounds Bearish for Gold - 30th Sep 21
Stock Market Gauntlet to the Fed - 30th Sep 21
Should you include ESG investments in your portfolio? - 30th Sep 21
Takeda - TAK - High RIsk Biotech Stocks Buy, Sell, Hold Investing Analysis for the Long-run - 29th Sep 21
Stock Market Wishing Away Inflation - 29th Sep 21
Why Workers Are NOT Returning to Work as Lockdown's End - Wage Slaves Rebellion - 29th Sep 21
UK Fuel PANIC! Fighting at the Petrol Pumps! As Lemmings Create a New Crisis - 29th Sep 21
Gold Could See Tapering as Soon as November! - 29th Sep 21

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Climate Crazies Meet The New Normal

Politics / Climate Change Oct 14, 2013 - 12:03 PM GMT

By: Andrew_McKillop

Politics

THE BASIC PROBLEM
The climate crazies with paint on their faces yipping on the runway to greet hero Al Gore landing his Gulfstream 5 private jet – for yet another 45-minute Climate Crisis tirade billed at $100 000 – are all gone now. Like Darwin's theory says, primitive life forms die out sooner or later.


The crazies wanted Low Growth, which they called the Sustainable Economy. But when low growth happened and became New Normal they went real quiet. Just like Al Gore, Jim Lovelock or James Hansen – the big guns of climate hysteria's good times who either retired, denied everything they previously ranted about Global Warming burning the planet, or found other ways to make cash out of easily-fooled persons believing their rants.

A new policy paper from the Post Carbon Institute, a so-called transition think tank founded in the good times for warming hysteria, argues that environmentalists must accept "the new normal" of declining economic growth, instead of constantly preaching it must be reduced.  Basically, the new normal cuts the ground away from under the feet of the climate crazies, the old growth economy they said we had to give up went away all by itself – with a lot of help from the banksters and brokers, and none at all from the crazies.

The paper, "Climate After Growth," was co-written by Post Carbon Institute’s executive director, Asher Miller and Rob Hopkins, founder of the Climate Transition Network. Their basic argument is we now need “community-led responses to climate change”, which will supposedly build strong local economies. The word “sustainable” is now purposely sidelined.

The paper says it hopes to put to rest the false dichotomy between the imperative of economic growth over environmental protection once and for all. Now that economic growth is a dying species they feel able to say that the “over-arching paradigm of economic growth” is coming to an end - regardless of the ongoing climate crisis. What climate crisis?

THE NEW PATTER
The “sustainable economy” has almost gone off the Doomsters' menu. The new-new economy is no longer sustainable. The new buzzword is “resilience”. Miller says: "There’s an opportunity for environmental groups and others to offer an alternative, and that alternative should be emphasizing community resilience,"  Since “resilience” is just as impossible to define as “sustainable” there is plenty of slide room for new normal snakeoil – if the public are stupid enough to gob it.

Nobody asks how come “we” don't need to be sustainable anymore, but we have to be resilient? In any case, why was the sustainable economy dumped by the crazies?

"If we can address climate issues while improving quality of life, we can build resilience, which we need to do; we can reduce our dependence on fossil fuels; and we can offer up a different way of creating goods and well-being that aren’t relying upon globalized economic growth", Miller said.

He only has to take a look at almost any developed country, and a rising number of emerging economies since 2008. They are all reducing their dependence on fossil fuels. Sure, they do it mostly through recession and mass unemployment, thanks to the banksters and their crony politician friends.

By community resilience, Miller and Hopkins say this means the ability of a community to "bounce back from disruption to a normal state of being". Likely this was a Freudian slip of the tongue. The previous normal state, before New Normal, was the growth economy with the crazies whining that “we” must end it forthwith. They go on to define how much resilience there is in a community by the amount of change the community can undergo and still retain its basic structure, the degree to which the community can self-organize and the ability of the community to build the capacity for learning and adaption.

This in fact is the “revolutionary agenda”, when the state breaks down, or is broken apart and communities learn to fend for themselves. Apparently, the guardians of Climate Correct are a lot less worried about “carbon sludge” harmfully affecting their private and personal atmosphere, these days.

They argue community resilience can be promoted to the point where it fully replaces the old economy. They say that “resilience” will become more popular as environmental shocks to economic systems and local communities become more commonplace – what they hope and pray will be an era of frequent extreme weather events, which they can blame on climate change. And keep their party going.

NOBEL PRIZE ECONOMICS
The authors play radical, as you might guess. They say they don’t believe any meaningful climate policy can be enacted while elected officials continue to prioritize economic growth above all else, despite economic growth collapsing. They seem not to notice their elected officials, these days, have a much more basic survival agenda – fending off the imminent collapse of their debt mountains.

Miller and Hopkins argue that without programs like the US Federal Reserve’s QE or quantitative easing, and its exact lookalikes in Europe, Japan, China, Brazil, India and other places the economy would be in a "tailspin". Talk about austerity, on one hand and stimulus-to-growth on the other, is now beside the point but the climate crazies took a long time to discover this.

They bandy around a few numbers on why the growth economy tanked and then died. Their favorite is supplied by the World Economic Forum which projects that global credit will have to double by 2020 - from $109 trillion in 2009 to $213 trillion in 2020 - just to maintain the present and current, low level of world GDP growth. And that isn't going to happen. They could have put things simpler. Back in the 1950s and 1960s a dollar of new debt or credit could generate $4 of new economic activity in the US economy. Now its 12 cents.

When the other shoe drops - massive defaults, lending stops, when bank deposit "haircuts" become mandatory, when savings accounts are pillaged by the crony politicians on order by the banksters – the climate crazies will get what they dreamed of. The problem is nobody will be interested in them.

In September 2013 William White, the former chief economist of the Bank for International Settlements (BIS) - famous for being the only head of a major global institution who foresaw the 2007/2008 global banking crisis - warned that exuberance in the credit markets "looks to me like 2007 all over again, but even worse." According to the BIS, the share of "leveraged loans" (those used by the most frenetic borrowers) has jumped to 45 percent of all loans - 10 percent higher than at the peak of the bubble in 2008.

So true to their credo, the climate crazies backtrack to their good old days. Miller and Hopkins claim, black on white that the US economy can never get back to an era of sustained GDP growth because the world has come up against the end of the era of cheap energy. Pull the other leg!

The authors cite Peak Oil data from the good old days on what are called “conventional oil reserves', where oil fields are declining at an average yearly rate of 4 million barrels per day of production capacity, which must be replaced each year just to stand still. But that was old normal. Using IEA data on the real world of today, world oil demand growth in 2013-2014 is unlikely to even reach 1 million barrels per day. Also, the part of total output coming from non-conventional oil – everything from condensed natural gas and mixed oil and gas output, to shale oil, tar sands, deep offshore oil and even the biofuels – is rising fast. The reason is because energy is so expensive – thanks to the bankster-and-politician mafia, and because energy is so expensive people use less of it but in no way can anybody explain the death of the growth economy as due to expensive energy.

In the US today, natural gas is the cheapest its been for20 years. The banksters and their crony politician friends are making sure they don't make that mistake again with either oil or electricity.

WHAT IS THE NEW ECONOMY?
Miller and Hopkins waste a lot of time on the oil “crisis” before they get on to their wishlist for the New Economy – which they don't ever define, but we can guess its “resilient”. They call on environmental NGOs to change strategy on their communication. They have to internalize the new realities and accept that the growth economy really did go down the tube.

They talk about a hectic future coming, with their hoped-for Bad Weather Disasters and then preach for NGOs to keep lobbying in shareholder annual general meetings for divestment by universities, churches, city councils and business leaders from their present stock holdings in the world's top 200 fossil fuel companies. To give everybody a laugh, they say that Al Gore in person is behind this call, with his 350. org. And why not also Warren Buffett we might ask?

The argument is that all concerned persons should divest from fossil fuels and hand their cash over to un-nice persons like Al Gore and his multiple hedge funds, who will then play it (or “invest” it) in “community-owned renewable energy projects”. This is a classically stupid call – current equity market prices are at insane all-time highs, thanks to the banksters and QE. When they slip on the banana skins which are all over the dance floor, right now, share prices will crash taking the Gore investment plays in “community owned energy” with them. Al Gore will however walk away smiling to his Gulfstream 5 because – you can bet – he also bet the other way. Short selling is the name of that “strategy”.

Much better to set up a Peoples Army and take over the local energy infrastructure. Maybe defectors from the National Guard would join in? We can hope.

Whatever we might expect from their Green Dream offering, Miller and Hopkins never tell us what the New Economy is. Obviously its different from the old one – and therefore the New Boss isn't going to be the same as the Old Boss. How we get rid of the old boss is the real question – but don't expect to find answers from Miller and Hopkins.

By Andrew McKillop

Contact: xtran9@gmail.com

Former chief policy analyst, Division A Policy, DG XVII Energy, European Commission. Andrew McKillop Biographic Highlights

Co-author 'The Doomsday Machine', Palgrave Macmillan USA, 2012

Andrew McKillop has more than 30 years experience in the energy, economic and finance domains. Trained at London UK’s University College, he has had specially long experience of energy policy, project administration and the development and financing of alternate energy. This included his role of in-house Expert on Policy and Programming at the DG XVII-Energy of the European Commission, Director of Information of the OAPEC technology transfer subsidiary, AREC and researcher for UN agencies including the ILO.

© 2013 Copyright Andrew McKillop - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisor.

Andrew McKillop Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in