Europe high and dry

The crisis in 1929 was a financial one. The current crisis, the one that started in 2008, is not just a financial one. As well as the creation of an immense quantity of rubbish money based on debt and thus non-existent, you have to add climate change that has ever more relevant economic aspects, and the scarcity of energy resources. The crisis is thus “una e trina” {three in one}. Finance, environment, energy. It’s the end of a civilisation (let’s call it like that …) that cannot be stopped just with financial instruments. What’s needed is a grand political vision, not a banking one. The economic bases on which our society is standing are collapsing, starting with energy. The price of oil has exploded. In 2011 the average price per barrel will go above 100 dollars for the first time on an annual basis. The highest since 1864, the year when the war of American Secession was raging. It’s forecast to reach 150 dollars a barrel in a few years. The EU is among the top areas of the world for the importation of oil. In 2011, it will pay 402 billion dollars as compared to 280 in 2010. An increase of 122 billion on the balance of payments. This high will cause increases for almost all the goods produced, even for agriculture (phosphates are derived from oil) and for transport. Travelling could once more become a luxury as it was in the nineteenth century. In 2015, the EU will be the world’s top importer of oil, a good that is destined to increase because of its growing scarcity and for the increase in demand, that is by now bulimic, from the emerging countries like China and India. The greenhouse effect and the climate changes are costing a lot. In 2010 there were 950 disasters in the world with damage amounting to 130 billion dollars. The CO2 emissions are going up instead of going down and the increase of two degrees due to the greenhouse effect is a matter of months. While the three new knights of the Apocalypse are romping around the planet, the Great of the Earth, thus defined by the hack writers, are thinking about growth. In 2035, the number of cars in the world will double and arrive at 1.7 billion. Towards the catastrophe with optimism.
![]() | Siamo in guerra, {We are at War}, by Beppe Grillo and Gianroberto Casaleggio. |
Posted by Beppe Grillo at 06:14 PM in Energy
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(2) | Comments in Italian (translated)
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Comments
I don't agree with the causes of the 1929 depression and neither do I agree as to when this crisis started - but so what? As for the rest of the article? I'm with you. I'm just glad I'm not twenty years old these days. Peter makes good points. But he has too much faith in politicians. Politicians are at the "marauding pirates' beck-and-call.
Posted by: Louis Pacella | December 1, 2011 06:38 AM
You didn't mention vital water or food resources or the cultural differences that could lead to conflict. Or the corruption or the fact that money is now concentrated in the tax havens from where predators make quick attacks into the financial markets to manipulate them and grab at anything they see as weak. Such as the Euro at the moment. It is for European Governments to stand firmly together to repel these marauding pirates before they massacre everyone
Posted by: peter fieldman | November 30, 2011 09:44 PM