“That means that, whilst as purists we might prefer to set out our findings in calories, BTUs and joules, we have to talk in dollars, euros and yen if we’re to secure a hearing. It also means that we need models of the economy based firmly on energy principles.”
This conflates Apples and Oranges particularly when one talks of Borrowing Value from the future.
Debt is a claim on future Wealth but not future wealth. If wealth is Surplus energy then Borrowing can only sensibly be expressed as Borrowing Future Energy Streams. Energy Budget have to be expressed qua Energy budgets a subjective value-based currency unit is simply not up to the job.
The Gulf in understanding and Speaking at crossed purposes inherent in maintaining the Old Financial artifices, and artifices are what they are, will maintain the ignorance of the majority of people. This is I think perfectly acceptable to those of an Elitist world view and Mindset.
Embodied Energy pricing and circular economy concepts along with DIstributive concepts of political economy and not re-distributive taxation and state-based centralised top-down control mechanisms are what is required. Vested interests are not going to listen anyway Tim, Afterall Turkeys do not vote for Christmas.
Finally, Interest charged on a dead medium is unsupportable by definition, this is the driver of the Growth requirement it’s the debt-based Financial system, and debt and taxation as a political control mechanism of the masses is something which again Elitist world views are more than comfortable with and simply do not wish to let go of.
Re-Blogged Comment awaiting Moderation
https://t.co/nzks8Lf8js #156. Actual fantasy #GrubStreetJournal @StevenBKurtz #ActualFantasy #SEEDs #SEEDS #Web3 #OIP #IPFS #WebSEO #ConquestofDough #TheDeletantista https://t.co/gciC1e9jTb pic.twitter.com/CK0D1mQJRL— GrubStreetJournal (@GrubStreetJorno) October 15, 2019 https://platform.twitter.com/widgets.js
OUR URGENT NEED FOR RATIONAL ECONOMICS
Everyone knows the quotation, of course, which says that “when it gets serious, you have to lie”.
Actually, when it gets even more serious, we have to face the facts.
I’m indebted to Dutch rock music genius Arjen Lucassen for the observation that the counterpart to “virtual reality” is actual fantasy – and that’s where the world economy seems to be right now.
You may think it’s imminent, or you might believe that it still lies some distance in the future, but I’m pretty sure you know that we’re heading, inescapably, for “GFC II”, the much larger (and very different) sequel to the 2008 global financial crisis (GFC).
SEEDS 20 – the latest iteration of the Surplus Energy Economics Data System – has a new module which calculates the scale of exposure to “value destruction”. This exposure now stands at $320 trillion, compared with…
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