User login

Chris Martenson

Syndicate content Peak Prosperity
Insights for Prospering as Our World Changes
Updated: 1 hour 44 min ago

The Inevitability Of DeGrowth

July 7, 2017 - 19:45

Even though we don't know precisely how the future will unfold, we know a few things about it.

Simply put, debt-dependent consumption in a world in which wages stagnate for the bottom 90% and energy costs increase as demand outstrips supply is a system with only one possible end-point: collapse.

Join the conversation »

Categories: Economics

Daily Digest 7/7 - Good News Friday: EV Revolution Accelerates, Using Etherium To Fix Journalism

July 7, 2017 - 10:00
  • Settlement Reforms Solitary Confinement of Juveniles at Onondaga County Jail
  • A Former Politico Editor Is Using Ethereum to Help Fix Journalism
  • House committee unexpectedly backs Barbara Lee’s bill to end military authorization
  • Forty-five States Refuse to Give Voter Data to Trump Panel
  • Volvo, Betting On Electric, Moves To Phase Out Conventional Engines
  • Tesla Loses Stranglehold As EV Revolution Accelerates
  • Myth or Magic? 16 Pest Control Tricks We Tested For You

Join the conversation »

Categories: Economics

Off The Cuff: Colliding Crises

July 7, 2017 - 05:17

In this week's Off The Cuff podcast, Chris and Charles Hugh Smith discuss:

  • The Approaching Energy Crisis
    • It's not a matter of if, but when
  • The Approaching Debt Crisis
    • There's no escaping it
  • The Unfolding Resource Crisis
    • Scarcity is growing in nearly every system
  • The Inevitability of DeGrowth
    • We're going to have to transition, whether we want to or not

This week's podcast is a particularly sobering one. Chris and Charles discuss the inevitable arrival of several approaching crises: declining net energy, too much debt, and depleting key natural resources.

What this mean is that "DeGrowth" in our near-term future. As a global population, we are simply going to have to learn to do more with less: either on our terms or Mother Nature's. 

Click to listen to a sample of this Off the Cuff Podcast or Enroll today to access the full audio and other premium content today.

Join the conversation »

Categories: Economics

Daily Digest 7/6 - Life Without the IRS, A New Way For Crops To Fight Drought

July 6, 2017 - 08:16
  • The Meaning Of Independence
  • The U.S. Needs to Invest in Minds, Not Miners
  • Trump says west is at risk, during nationalistic speech in Poland
  • Fine Gold versus F.I.N.E. Central Banks
  • A Second Look at Life Without the IRS
  • Don’t Hold Your Breath For Deeper OPEC Cuts
  • EPA must enforce methane emissions rules immediately after court decision
  • Vinegar—A New Way for Crops to Fight Drought?

Join the conversation »

Categories: Economics

Daily Digest 7/5 - 'Tidal Wave Of Expenses' In CA Schools, The Age Americans Pay Off Their Student Loans

July 5, 2017 - 06:37
  • Congress Moves to Stop I.R.S. From Enforcing Health Law Mandate
  • K-12: ‘Tidal wave of expenses’ in looming California school budget crisis
  • After tax hike and budget votes, Illinois avoids credit downgrade to junk for now
  • This is the age most Americans pay off their student loans
  • EXCLUSIVE: Documents expose how Hollywood promotes war on behalf of the Pentagon, CIA and NSA
  • UN to Meet on North Korea After U.S. Confirms Rocket Was ICBM
  • Migrants in Libya are being rounded up and sold into slavery, UN says
  • The Global Oil Demand Driver That Is Being Ignored

Join the conversation »

Categories: Economics

Daily Digest 7/4 - How To Deal With North Korea, The Addictive Origins Of Agriculture

July 4, 2017 - 08:48
  • North Korea Claims Success in Long-Range Missile Test
  • How To Deal With North Korea
  • A Wisconsin Republican Looks Back With Regret at Voter ID and Redistricting Fights
  • War or Recession Might Be Needed to Break Low-Vol, Goldman Says
  • This Supermajor Is Leading The Charge On Renewables
  • Climate change could exacerbate economic inequalities in the U.S.
  • Unique coral reef at risk as oil companies plan to drill near Amazon river
  • The Addictive Origins of Agriculture

Join the conversation »

Categories: Economics

Steve St. Angelo: Prepare For Asset Price Declines Of 50-75%

July 3, 2017 - 13:00

Any sense of prosperity in today's economy is based on a falsehood, claims Steve St. Angelo, proprietor of the SRSrocco Report website.

Like we here at PeakProsperity.com, Steve is a student of energy. He shares our worldview that net energy per capita has been in steady decline, and a result, future growth will be limited. Also like us, he notes that the "growth" seen over the past several decades hasn't been due to surplus net energy (which makes being able to do more possible). Instead, it has been fueled by debt  -- which essentially steals prosperity from the future and consumes it today.

Any third-grader with a crayon can quickly tell you that kind of scam can't last forever. And it can't. Once the can can't be kicked any further and the next economic and/or financial crisis is upon us, Steve sees today's over-inflated asset prices quickly dropping by a gut-wrenching 50-75%.

Join the conversation »

Categories: Economics

Daily Digest 7/3 - CA Set to Go Big on Climate, Why is Canada’s 150th Birthday Controversial?

July 3, 2017 - 07:28
  • Silicon Valley Begins to Crack Visibly
  • The History of America’s Independence Day
  • Why is Canada’s 150th birthday controversial?
  • Federal judge in SPLC case orders drastic overhaul of Alabama prison mental health care system
  • How A Georgia Town Thwarted A Plan To Dump Tons Of Toxic Coal Ash
  • Scott Pruitt wants to hijack the peer-review process to push bad climate science
  • Iranian city soars to record 129 degrees: Near hottest on Earth in modern measurements
  • Embracing Need for 'WWII Style Mobilization,' California Set to Go Big on Climate

Join the conversation »

Categories: Economics

Daily Digest 7/1 - Uncovering Labor Abuse, States Reject WH Request To Provide Voter Data

July 1, 2017 - 08:05
  • All The Plenary's Men
  • The Breakthrough: A Reporter Crosses Borders to Uncover Labor Abuse
  • Father Of Migrants
  • Put Down the IPhone and Appreciate Its Genius
  • Multiple states reject request from Trump's voter fraud commission to provide voter roll data
  • Canada Ponders an Unusual Drug Problem: a Shortage of Marijuana
  • African Americans have lost untold acres of farmland over the last century
  • EPA chief met with Dow CEO before deciding on pesticide ban

Join the conversation »

Categories: Economics

Preparing For The Coming Shock

June 30, 2017 - 19:11
Executive Summary
  • The importance of understanding the difference between depleting vs declining
  • Why the shale "miracle" can't rescue us from this predicament
  • Why 2019 will be a seminal year
  • How high will oil prices go when the shock arrives?
  • Why the next oil shock will force the economy -- and EVERYTHING we depend on -- to diminish

If you have not yet read Part 1: The Looming Energy Shock available free to all readers, please click here to read it first.

There are two words that are related but important to understand the distinction between. One is depletion, which refers to the amount of oil that is removed from a reservoir. The other is decline, which refers to the amount of oil flowing from a given well or field.

Depletion is a relatively straightforward process. If there are 100 units of removable oil in a field and you pump out 3 of them, the field has depleted by 3%.

But you might be able to hold the rate of pumping constant for a long time by injecting water or performing other stunts to force more oil out of a given well. If in our example we kept removing those same 3 units year after year, our decline rate would be zero. But the depletion rate would be increasing, because 3/100 = 3% but 3/97 = 3.1%. And after ten years the rate would be 3/70 = 4.3%.

That is, all efforts to keep oil flowing out of the wells at a maximum rate results in increasing rates of depletion. But we should also point out here that fighting decline rates is an expensive proposition. And that funding, too, has dried up of late.

The bottom line is that depletion is what really matters. Because once the oil gone, baby, it’s gone. All of the MSM headlines will keep you focused firmly on rates of extraction but only rarely on the rates of depletion.

So where is the world in the story of depletion? This is where our various sphincters should be involuntarily tightening. Rates of depletion are increasing, and they are substantial as seen here in...

Join the conversation »

Categories: Economics

The Looming Energy Shock

June 30, 2017 - 19:10

There will be an extremely painful oil supply shortfall sometime between 2018 and 2020. It will be highly disruptive to our over-leveraged global financial system, given how saddled it is with record debts and unfunded IOUs.

Join the conversation »

Categories: Economics

Off The Cuff: No More Financial Crises "In Our Lifetime"

June 30, 2017 - 11:04

In this week's Off The Cuff podcast, Chris discusses:

  • Market Jitters
    • What will happen if the central banks turn off the money?
  • No More Financial Crises "In Our Lifetime"
    • Did Janet Yellen really just say that???
  • Our States Are Falling Into Bankruptcy...
    • Illinois, Connecticut, Maine & more
  • While The Banks Get Even Fatter
    • Income from excess reserves to rise to $50 Trillion by 2019

This week, Chris takes a moment to share his thoughts in depth on where we are in the global debt saga. The overhang is getting worse, growth is not riding to the rescue as hoped, and the central banks are running out of both smoke and mirrors to keep the game continuing. Should the $200 billion monthly bonanza of central bank liquidity start decreasing -- as is now being increasingly discussed -- expect markets to go south quickly.

Click to listen to a sample of this Off the Cuff Podcast or Enroll today to access the full audio and other premium content today.

Join the conversation »

Categories: Economics

Daily Digest 6/30 - Good News Friday: Children Full Of Life, How To Save Your Nest Egg

June 30, 2017 - 08:23
  • Children Full Of Life
  • Rikers-bound defendants will have more time to post bail before getting locked up under new city legislation
  • 2 Tricks to Save Your Nest Egg From Cracking
  • Congress Passes Resolution Condemning LGBTQ Torture in Chechnya
  • A Plan to Win Universal Health Care
  • Car-charging company is on a tear, buying GE stations, securing investments
  • Ohio Air National Guard drops wind turbine plans for Camp Perry; birding groups declare victory 
  • Winners of the BigPicture Natural World Photography Competition

Join the conversation »

Categories: Economics

Daily Digest 6/29 - The Coming Battery Bonanza, China's 4 Horsemen Of The Stock Market Apocalypse

June 29, 2017 - 07:50
  • Fixing The 5 Percent
  • Trump Travel Ban to Allow Step Family, Not Grandparents, Cable Says
  • The Shift is On: Why Institutional Investors Are Buying Gold Again
  • China’s 4 Horsemen of the Stock Market Apocalypse
  • Banks Unleash Surprisingly Big Payouts After Fed’s Stress Tests
  • The Coming Battery Bonanza
  • $30 Oil Could Spark Contagion In Energy Markets
  • The Benefits And Costs Of Agriculture

Join the conversation »

Categories: Economics

Daily Digest 6/28 - LA Has a Pension Contribution Crisis, Bubble Forming On Wall Street

June 28, 2017 - 06:55
  • State pension means testing will be necessary, says report
  • LA Has a Pension Contribution Crisis, Continued ‘Managerial Ignorance’ Won’t Fix It
  • Talks over boosting Illinois Medicaid payments fail
  • $70,000 a day in interest — the cost of another short-term CPS budget solution
  • California lawmakers advance pension borrowing plan
  • China’s Pension Gap Is Growing as Aging Becomes Economic Risk
  • BOJ Keeps Snapping Up Bonds as Foreigners Grab T-Bills
  • Europe's Banking Union Fails Its Latest Test
  • Sure looks like a bubble forming on Wall Street

Join the conversation »

Categories: Economics

Pre-ALERT: Trump Risks War With Russia

June 27, 2017 - 15:44

Trump has now backed his administration into a corner.  If there’s another suspected poison gas attack in Syria, he’s promised to escalate the situation by beginning bombings.

It appears that what I feared might happen under a Clinton presidency (and I still think probably would have, anyways) is now happening under the Trump administration.

Let me be perfectly clear: bombing Syria risks a direct confrontation with Russia.  If that happens, all bets are off. Anything could happen next, up to and including a nuclear exchange. 

Join the conversation »

Categories: Economics

Daily Digest 6/27 - CA To List Herbicide As Cancer-Causing; Enter Google, Exit Bitcoin?

June 27, 2017 - 07:13
  • Blockchain Analysis: Enter Google, Exit Bitcoin?
  • New Cyberattack Spreads Across Europe, Hits Rosneft, Maersk
  • 'I don’t understand why people have to struggle': views on healthcare in Trump country
  • Economic Scene: When Cutting Access to Health Care, There’s a Price to Pay
  • Pizza Or Privacy?
  • Want a $1 Million Paycheck? Skip College and Go Work in a Lumberyard
  • Middle East At Point Of No Return As Saudi-Qatar Rift Deepens
  • California to list herbicide as cancer-causing; Monsanto vows fight

Join the conversation »

Categories: Economics

Your Feedback Needed!

June 26, 2017 - 16:55

After the successful debut of our new webinar platform earlier this month with our The End Of Money webinar, we are busily planning our future production schedule.

But we very much want the topic selection for future webinars to be custom-tailored to the interests of the PeakProsperity.com audience. 

Please take a moment to share your feedback in this short survey. It will literally take you 1 minute or less to fill out.

Join the conversation »

Categories: Economics

Daily Digest 6/26 - What Went Wrong In UK Election, Is An Oil Comeback On The Cards?

June 26, 2017 - 04:40
  • British General Election: What Went Wrong?
  • Does US have right to data on overseas servers? We’re about to find out
  • Trump wants 'heart' as Republicans seek to deliver Senate healthcare bill
  • Arab Neighbors Demand Qatar Shutter Al-Jazeera and Cut Ties With Iran to End Diplomatic Row 
  • Regulators move to pull the plug on Mississippi coal plant
  • Expert Commentary: Is An Oil Comeback On The Cards?
  • Europe Doesn’t Need American Climate Scientists. It Needs American Climate Data

Join the conversation »

Categories: Economics

Joseph Tainter: The Collapse Of Complex Societies

June 25, 2017 - 20:20

By popular demand, we welcome Joseph Tainter, USU professor and author of The Collapse Of Complex Societies (free book download here).

Dr. Tainter sees many of the same unsustainable risks the PeakProsperity.com audience focuses on -- an overleveraged economy, declining net energy per capita, and depleting key resources. 

He argues that the sustainability or collapse of a society follows from the success or failure of its problem-solving institutions. His work shows that societies collapse when their investments in social complexity and their energy subsidies reach a point of diminishing marginal returns. That is what we are going to be talking about today, especially in regards to where our culture is today, the risks it faces, and whether or not we might already be past the tipping point towards collapse but just don’t know it yet.

Join the conversation »

Categories: Economics