World Economic News (Mon 7th. March ’11)

US average income 100 years, The Joker Chart, Food CPI, Fed and the S&P, Arab GDP per capita, Fuels for the future.



Links – 1. 2. 3. 4. 5. 6.

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  • Anonymous

    It is absolutely amazing that the snakeoil salesman everywhere in the energy sector are alwasy telling us that we don’t need to worry about using up all that crude oil because biofuels and various high-tech, clean, renewables like solar and wind will make up the difference? A snowballs chance in where?

    And they like to slip either coal or natural gas in the mix, usually someplace in the middle so as not to get to much attention.

    My calculator says that coal is NOT going be the answer!

    See http://home.comcast.net/~zthustra/articles/how_long.html.

    • Anonymous

      @Zar…

      Your link doesn’t work.

    • http://overthepeak.com/wordpress/ Mystic

      Yes, but you are just a boring beardy poo-pooist, ain’t ya~!?

      • Anonymous

        Statistically, the coal industry is moving in the wrong direction to increase output. The known, recoverable coal reserves from mines in operation will be exhausted in just 15 years with the current rate of consumption plus growth.

        This means that the nation’s 1,407 mines will ALL have to be replaced in the next fifteen years. If I am reading the reports correctly, we only brought 7 new mines online in 2008 and 8 new mines in 2009. FIFTY NINE old mines stopped producing in 2009!

        We need 100 new mines per year to replace our current mines in fifteen years.

        Did I mention how badly employment has dropped off in the coal mining sector? It doesn’t seem that they are hiring a bunch of new people to find and develope thos new mines.

        Poo-poo by beardy … something or another.

        BTW, awesome video! And coal wasn’t even the best part of it.

  • Anonymous

    I assume the S&P follows the FED ballance sheet, for the same reasons you described a couple
    of WEN posts ago….. When the FED purchase existing treasuries from the banks etc, the
    banks then invest the cash into the stock market, as they do the commodities market….???

    Or was this a rhetorical question….??? ( if that is the correct phrase..?? ).

    • http://overthepeak.com/wordpress/ Mystic

      It is a kind of `every knows secret` that the Fed is buying up the SnP.
      Pointing at the Fed’s balance sheet and the rise in the SnP, is to show that you are `in on the secret` (which is silly because there is no sign of buying the SnP on the Fed’s balance sheet)……..(but that does not matter).

      All very silly, eh~!?

      • Anonymous

        Do you think the SnP rise is a concequence, or knock on effect of the treasury buys, or, is it possible
        that this was the intended result…???

        I am not really one for conspiracy theories, but we all know that a stock market performing well, makes
        people feel good about the future….. And spend….. As with their house prices….

        Perhaps injecting confidence into the economy was the real intention…???

        • http://overthepeak.com/wordpress/ Mystic

          I’m sure that `they` have been buying up the SnP, but we will never get to know how (or even who `they` are).
          If I was `them`, I would have done it.

        • Anonymous

          If you already have everything and the fed throws a few trillion dollars at you what are you going to do with it? You could loan it to the government, but they just refuse to borrow enough to suck up all of that new money. You could speculate on the market in stocks and commodies? Yes! That’s it! The people who need the money the least have it and they have nothing better to do with it so they buy stocks and commodities.

          • http://overthepeak.com/wordpress/ Mystic

            Well, can’t give it to them people things, they’d only go spend it on stuff.

  • freemarkethippie

    Syria FTW!!!!

  • Snedmeister1

    Graph 1 has prompted me to wonder when it became prevelant for both men and women from the same family to
    be the “breadwinners” together….??

    “Womens liberation” was near the point that this graph levels off…..

    I ask because, it is often said families have supplimented a levelling off of wages with borrowing, which has fuelled growth….
    Did the supplimenting of family income start before the credit period, ie when women started the rise into the male dominated workplace..??

    If this is the case, what is next ( assuming we have infinate energy )….. Send the kids to work….?????

    • http://overthepeak.com/wordpress/ Mystic

      That must be a factor….you can’t argue with a `supply and demand` argument.
      (the thing was…………they had jobs for them, now they don’t)

  • badartdude

    it all indicates to depopulation. It’ the only future we have.

  • Stevo

    I wasn’t too sure if Graph 1 was per Capita income or household income? Either way the growth period 1945 to 1974 for the USA could be explained by the foreign competition trying to get its act together to provide alternative goods and services after being devastated by the two wars. By the 70’s the Germans and Japanese had re-tooled and a post-war generation re-trained, followed by the Koreans, Taiwanese other Europeans and then finally the likes of China and India join the game pushed their socialist ideals under the carpet.

  • From_The_Oubliette

    Thanks for the insight and links Mr. Mystic.

    On page 23 of the “optimistic” Shell Energy Scenarios it states:

    “The increasing concentration of CO2 and other greenhouse gases (GHGs)
    in the atmosphere is almost universally accepted as responsible for global warming.
    CO2 has risen from 280 parts per million by volume (ppm) in pre-industrial times
    to 380 ppm today and is set to rise rapidly as world economic development
    accelerates. This trend is not sustainable if climate change is to be moderated.”

    In the BBC’s documentary Earth: The Power of the Planet Episode Two, Atmosphere, (for concision start from 04m:14s and end at 11m:08s):

    http://www.youtube.com/watch?v=khOjzA9vSQU

    There seems to be an immense reservoir of Methane from rotting vegetation trapped in the permafrost in the Northern reaches of Russia.

    There have been attempts by parties to discredit the theory of anthropogenic driven climate change or even to refute the consensus of scientific research conducted thus far in an ideological fog, or even to misinform the public, at least as far as credible witnesses on-the-record statements.

    http://stakeholders.ofcom.org.uk/binaries/enforcement/broadcast-bulletins/obb114/issue114.pdf

    (Oubliette’s Note; an interesting, although tediously lengthy perspective on the practices of a television programme maker).

    The comedian Robert Newman has combined peak oil, climate change as well as economic and geopolitical history in his 45 minute show History of Oil.

    http://video.google.co.uk/videoplay?docid=-5267640865741878159#

    Given that (even) Shell are predicting declining rates of the supply of petroleum, and predicting the rise in the use of coal, and the anaemic energy-return on energy-invested figures for some biofuels like ethanol, which seem more like a subsidised relationship between elected officials, voting districts and campaign contributions from agribusiness under the comforting slogan of “saving the planet”.

    The question is how can we not see anything but the darkest future for our species?

    Or is that the point?

    http://www.youtube.com/watch?v=BB0aFPXr4n4&feature=related

    “Men are ruled, at this minute by the clock, by liars who refuse them news, and by fools who cannot govern.” – G. K. Chesterton.

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