View source for Energy, Finance and the End of Growth


'''* Report: perfect storm: energy, finance and the end of growth. By Tim Morgan. Tullet Prebon. 2012.'''

URL = http://ftalphaville.ft.com/files/2013/01/Perfect-Storm-LR.pdf


=Contents=

==part one:  the end of an era==

the four factors which are bringing down the curtain on growth

The economy as we know it is facing a lethal confluence of four critical factors – the fall-out 
from the biggest debt bubble in history; a disastrous experiment with globalisation; the 
massaging of data to the point where economic trends are obscured; and, most important of 
all, the approach of an energy-returns cliff-edge.


==part two:  this time is different==

the implosion of the credit super-cycle 

The 2008 crash resulted from the bursting of the biggest bubble in financial history, a ‘credit 
super-cycle’ that spanned three decades. Why did this happen?


==part three:  the globalisation disaster==

globalisation and the western economic catastrophe

The Western developed nations are particularly exposed to the adverse trends explored in this 
report, because globalisation has created a lethal divergence between burgeoning consumption 
and eroding production, with out-of-control debt used to bridge this widening chasm. 


==part four:  loaded dice==

how policies have been blind-sided by distorted data

The reliable information which policymakers and the public need if effective solutions are to 
be found is not available. Economic data (including inflation, growth, GDP and unemployment) 
has been subjected to incremental distortion, whilst information about government spending, 
deficits and debt is extremely misleading.


==part five:  the killer equation==

the decaying growth dynamic

The economy is a surplus energy equation, not a monetary one, and growth in output 
(and in the global population) since the Industrial Revolution has resulted from the 
harnessing of ever-greater quantities of energy. But the critical relationship between 
energy production and the energy cost of extraction is now deteriorating so rapidly that 
the economy as we have known it for more than two centuries is beginning to unravel."


[[Category:Economics]]

[[Category:Energy]]