The key to a sustainable economy is 5000 years old

By Ellen Brown, Truthdig.com August 30, 2019  We are again reaching the point in the business cycle known as “peak debt,” when debts have compounded to the point that their cumulative total cannot be paid. Student debt, credit card debt, auto loans, business debt and sovereign debt are all higher than they have ever been. As economist Michael Hudson writes in his …

Moody’s sees substantive weakness ahead for North American coal

https://seekingalpha.com/news/3493842-moody-s-sees-substantive-weakness-ahead-north-american-coal Carl SurranAug. 21, 2019 6:57 PM ET Moody’s cuts its 12-18 month outlook for the North American coal industry (NYSEARCA:KOL) to Negative from Stable, citing declining profitability, weakening export prices and declining demand from utilities over the next decade. “The combination of a now-weakened export market and significant retirement of coal-fired power plants in 2018 is creating an oversupplied …

Dare to imagine: A new economy is possible! Public Finance for the Future We Want

Costa Rica’s Banco Popular Costa Rica’s BPDC is perhaps the most democratic bank in the world, with its highest governing body the Assembly of Workers, which represents nearly 1.2 million savers, or 20% of the population. Effective control over daily operations is exercised by the National Board of Directors, which is composed of four representatives of the Assembly and three …

U.S. Seen as Climate Risk With Two-Thirds of New Oil and Gas

By Alex Nussbaum, Bloomberg, August 20, 2019  ‘Staggering’ forecast makes U.S. climate risk: Global Witness  Surge would be 40 times new Russian output, 20 times Saudi The U.S. will account for for almost two-thirds of the world’s new oil and natural gas output in the decade ahead, making it a critical obstacle to stopping climate pollution, a London-based advocacy group says. …

Financial planners and hedge fund managers don’t want to see the 1-2 percent of wealth they take annually to be usurped by the public

Higher taxes? Billionaire hedge fund kingpin Leon Cooperman says he could personally afford to pay half his income in taxes. But don’t get Cooperman started on taxes on grand private fortunes. The 76-year-old hates the idea of taxing personal wealth over $50 million at a 2 percent annual rate, as White House hopeful Elizabeth Warren has proposed, and he’s been …

De-Dollarizing-the-American-Financial-Empire

Bonnie Faulkner:  I’ve been speaking with Dr. Michael Hudson.  Today’s show has been:  De-Dollarizing the American Financial Empire.  Dr. Hudson is a financial economist and historian.  He is President of the Institute for the Study of Long-Term Economic Trend, a Wall Street Financial Analyst and Distinguished Research Professor of Economics at the University of Missouri, Kansas City.  His 1972 book, Super …

We can’t afford not to decarbonize. Invest 1% of world GDP, the total value of all goods and services in the world = about $85 trillion per year in 2019. 1% of that is $850 billion/yr

From Dr. Scott Denning, Colorado State University, Aug 2019 Economists estimate the total cost of decarbonizing the world economy to be about 1% of global GDP. Academic economists estimate the total cost of saving our descendants from millennia of hellish struggle at 1% of GDP (plus or minus 1% — could actually cost anywhere from nothing to 2%). And yes …

Systemic financial risk

Excerpt “It’s a lot harder to dismiss the idea of systemic risk as ‘some scientist trying to make a buck’ when it’s central bankers who are saying it,” said Jamie Bonham, manager of corporate engagement at NEI Investments, a Toronto firm which manages $7.6 billion for investors. “They’re as conservative a group as you can get, so I do hope …

Now is the time for a World Carbon Bank

The Guardian, July 2019 excerpt It is high time to create a new, focused agency, a World Carbon Bank, that provides a vehicle for advanced economies to coordinate aid and technical transfer, and that is not simultaneously trying to solve every other development problem. Yes, I fully understand that the current US administration is reluctant to fund even existing international …