Stoneleigh on the Converging Double Dip Effects of Peak Oil and Peak Finance

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= Peak Oil and the collapse of global Ponzi finance are a “perfect storm” of converging phenomena that threaten to sink our age of prosperity through wealth destruction, social discontent, and global conflict.

Transition Network Conference 2010 Podcast via http://sheffield.indymedia.org.uk/2010/06/453356.html


Description

"'Double dip' sounds more like an ice cream you'd buy at the beach than a financial meltdown. A more somber tone was set at last month's Transition Towns conference by Stoneleigh, the co-editor of Automatic Earth. In a clinical presentation, she described the convergence of Peak Oil, and the 'collapse of global Ponzi finance', as 'a perfect storm of converging phenomena that threaten to sink our age of prosperity through wealth destruction, social discontent, and global conflict'. The energy crisis and the financial crisis are feeding off each other, said Stoneleigh. Describing the hydrocarbon epoch (the one we're in now) as a 'fleeting interlude in history', she went on to anticipate a 'net energy cliff' and an accompanying deflation."