Step Aside from US Centric. Eurocentric and Step into Global Debt. 2007 revisited That's the warning today from McKinsey & Co.'s research division which estimates that since 2007, the IOUs of governments, companies, households and financial firms in 47 countries has grown by $57 trillion to $199 trillion, a rise equivalent to 17 percentage points of gross domestic product. While not as big a gain as the 23 point surge in debt witnessed in the seven years before the financial crisis, the new data make a mockery of the hope that the turmoil and subsequent global recession would put the globe on a more sustainable path. This is not new but it is troublesome--particularly the concern that neither austerity nor growth will solve this.
Somaliland is an odd land. In global limbo since its birth, it continues to develop economically and socially in a reasonably stable and secure environment. Recently, the British town of Sheffield was the first to recognize its very existence as an independent country. In the meantime, the capital Hargeisa city, which has only one paved road, recently installed streetlights for the first time, and an enterprising entrepreneur returned home from Australia to start a familiar city service - the yellow cab. Investors and businesses have started paying attention while the major powers still prefer to pretend it doesn't exist. Even while experts debate whether their model can be utilized in far more volatile Somalia, Hargeisa's residents want you to know they are Happy.
To a Chinese Scrap-Metal Hunter, America's Trash Is Treasure: Johnson Zeng is a Chinese trader who travels across the U.S. in search of scrap metal. By his estimate, there are at least 100 others like him driving from scrap yard to scrap yard, right now, in search of what Americans won’t or can’t be bothered to recycle. His favorite product: wires, cables, and other kinds of copper. His purchases, millions of pounds of metal worth millions of dollars, will eventually be shipped to China. [more inside]
Everything Is Rigged: The Biggest Price-Fixing Scandal Ever The Illuminati were amateurs. The second huge financial scandal of the year reveals the real international conspiracy: There's no price the big banks can't fix
Global Trends 2030 Alternate Worlds is the latest quadrennial report from The US National Intelligence Council (NIC). (Report: PDF / Talking Points: PDF.) Similar to its predecessors, '2030' attempts to predict 'alternate visions of the future.' An official blog discusses their speculations. The Atlantic Council has published a "companion publication": "Envisioning 2030: US Strategy for a Post-Western World." [more inside]
The once shining beacon of capitalism in the Persian Gulf has lost a lot of its luster since the global financial crisis in 2008. But is it too soon to declare Dubai dead? [more inside]
Nassim Nicholas Taleb, author of the award-winning book The Black Swan, (previously), was interviewed recently by Charlie Rose: A conversation about economics with Nassim Taleb (as well as Time Magazine.) Taleb is more pessimistic than Nouriel Roubini, (previously, previously) who thinks that the total sum for this current global meltdown may be somewhere between 10-20 Trillion US dollars.
"The model of economic development that we are currently pursuing is unsustainable. Our energy consumption per unit of GDP is seven times that of Japan, six times that of America, and even 2.8 times that of India. China’s labour productivity is less than 10 per cent of the world total, and yet our emissions are over 10 times higher than the global average." ~ Pan Yue - deputy director of China's State Environmental Protection Administration (SEPA). Part of a new generation of outspoken Chinese senior officials, Pan has given rise to a tide of environmental debate, attracting enormous attention and controversy. Read his articles here : - China: economic powerhouse, environmentally unsustainable - part one and part two
A Concrete Solution to Pollution With concerns over global warming and pollution control reaching an all-time high, an Italian company has developed an interesting solution. It is called TX Active: a concrete that literally breaks down pollutants in the air. The effects are significant: 'In large cities with persistent pollution problems caused by car emissions, smoke from heating systems, and industrial activities, both the company and outside experts estimate that covering 15% of all visible urban surfaces (painting the walls, repaving the roads) with products containing TX Active could abate pollution by up to 50%.' Even more significant is that the cost is only 30% over that of normal concrete. Remarkable.
I know this has been on everyone's mind, but I just read this article today and was astounded at my lack of foresight. Silly me, here I was worrying about global warming when what I need to be fretting about is the decrease in fuel's impact on the structure of international banking! Will we run out of fossil fuel before it's too late to save the environment from pollution and greenhouse gasses? The abiotic nuts think we've got plenty more. Personally, I think we can kiss the marvel that is suburbia goodbye and start contemplating the fact that the focus on the post-post industrial revolution will not be information, but rather agriculture. And since solar panels and windmills and the like are made of materials that are extracted, transported, and fashioned by using oil-powered machinery, my money's on the folks who're stockpiling uranium for all those shiny new nuclear plants we're going to need. So, do we have a plan? You bet we do! Oh. Well, we'll just rely on the advancement of technology to allow us to weasel out of it! Me? I've actually always wanted a horse.