Corruption and economic instability in the news

[ I can’t keep up with the flood of news about on fraud and economic instability, so below are a few of the stories I don’t have time to write up. But there are hundreds of stories every month, too many to list or keep up with.  See the Automated Earth for the best one-stop-shopping for economic news and financial corruption.

I’m including “money” related issues because energyskeptic is my attempt to write a “wiki” of important posts about the fall of western civilization as we know it from an enormous number of factors.  Although a lack of oil to keep heavy-duty vehicles running will be the real reason civilization crashes, most will think it’s due to a financial crash. That’s a good thing since people are likely to behave better if they think it’s yet another bust in a boom-bust economic system.  Awareness that its a lack of energy could lead to panic, since  a lack of fossil fuels is permanent, enabled an extra 6 billion people to be born, and has no remedy. 

Alice Friedemann   www.energyskeptic.com  author of “When Trucks Stop Running: Energy and the Future of Transportation”, 2015, Springer and “Crunch! Whole Grain Artisan Chips and Crackers”. Podcasts: Practical Prepping, KunstlerCast 253, KunstlerCast278, Peak Prosperity , XX2 report ]

Fraud, corruption, and economic instability

Economic Instability – signs of a crash ahead?

2016-10-24. As Europe and Asia Hoard Cash, Economists See Echoes of Crisis.

2016-9-27. Global Container Volume on Track for Worst Year Since 2009.  Flat growth in the beleaguered shipping industry could set off further bankruptcies and possible acquisitions. Wall Street Journal.

Another financial crash worse than 2009

2016-04-03 Stanley Druckenmiller: “This Is The Most Unsustainable Situation I Have Seen In My Career”. Simple Math Shows America Is Headed for an Economic Disaster

Wall Street

Banks

2016-04-09 Wells Fargo “Admits Deceiving” U.S. Government, Pays Record $1.2 Billion Settlement

Fracked oil and gas “tight” bubble

Mortgage Bubble

2010-10-14 Same Person Forged Billions of Dollars Worth of Mortgage Documents for Bank of America, Wells Fargo, U.S. Bank and Dozens of Other Lenders and Shells

Subprime auto loan bubble

2014-07-20 “Buying the Car Was the Worst Decision I Ever Made”: The Subprime Auto Loan Bubble Bursts

Student debt bubble

2016-04-07 Shocking statistic: Over 40% of student borrowers don’t make payments

Debt

Distribution of Wealth

Tax Havens

Money

2016-04-06 Rotten to the core.  Think the $100,000 you have really exists?

Capital controls and the war on cash

Negative interest rates

Helicopter money to keep economy going

2016-04-07 JPM, ECB Hint at Arrival of “Helicopter Money” in Europe Following Next “Significant Downturn”

Economists are idiots

The new astrology. By fetishizing mathematical models, economists turned economics into a highly paid pseudoscience

Defense Department

2015-04-21 F35, The jet that ate the pentagon ($1.5 trillion so far)

Pensions

 

 

 

 

 

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2 Responses to Corruption and economic instability in the news

  1. Weogo Reed says:

    Hi Alice,

    India is attempting to crack down on ‘black money and corruption’:
    http://www.bbc.com/news/business-37906742
    Seems small-scale to me, but maybe it will bubble up to the rich.

    Years ago a friend proposed a world currency based on Salt.

    A) Salt will always have value – there are only a few places in the world that you can just pick it up.
    Mining and evaporation both take effort and energy, and even if you are carving salt blocks out of a formation, this takes effort, and still requires transportation.

    B) Salt can’t be hoarded. The price per kilo would not have to go very high for a bunch of folks to set up their own salt evaporator pans at the beach.

    C) One kilo of salt = one dollar/rupee, yuan, peso, etc.
    With every currency in the world based on salt, every country could have their own paper bills and coins, that would be equally exchangeable.

    D) All forex traders would have to get real jobs.
    No more currency wars.
    Get some smart people to set this up so it works long-term.

    Thanks and good health, Weogo

    • energyskeptic says:

      Guess that will depend how far we fall, and how far in the future. I expect currencies will reflect what’s available locally. If you look at the history of money you’ll see obsidian, cattle, clay tokens, coins, etc. The local Indian tribe that used to live in the San Francisco Bay Area, the Miwok, used abalone shells. Only a few coastal tribes could make them. They cleverly excised round pieces from the shell and punched a square hole through it so many coins could be strung on a leather cord worn as a necklace or belt. At a Rainbow Gathering a few years ago in a national forest, snickers bars became the currency (like burning man, nothing is supposed to cost anything, but..) . Salt will always be very valuable, but it would an awkward currency, heavy and hard to protect from rain once the last tupperware container is gone, too bulky to store in vaults. The one sure thing is that some form of currency always evolves because barter doesn’t work.

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