It Looks As If My Hopes For A Global Financial Crash Are In Vain

It’s late Monday morning on the west coast (Canada) and markets are recovering after huge, but apparently unsustainable “losses” at opening this morning. Damn, it looked as if there might actually be something positive for me in tonight’s news. I’ll just have to settle for the usual; Canada – lawmakers breaking the law and lying about it under oath, and America – views on the economy by President-In-Waiting Trump . . . another evening of Cookie Jam on Facebook I guess.

Economic Growth, as measured by GDP simply means the amount of money changing hands, normally going from the poor to the rich. Earthquakes, war, highway carnage, increasing death rates from lifestyle diseases such as diabetes, obesity and cardio-vascular disease all cause GDP to rise. To be balanced, so does actual production. Usually I prefer to be un-balanced.

For an economy to grow, something has to shrink and, with the proliferation of free-trade capitalism, the main loser is our home planet. Earth is the only home humans have or ever will have unless you think that a one-way ticket to Mars to live out your life in small pod, recycling your bodily wastes to stay alive qualifies as an alternate home.

Forests turning to desert, water supplies drying up or turning toxic, temperatures and sea levels rising, accelerating species extinction, massive migration of humanity in search of food and water; these and other less obvious tears in the interconnected fabric of life on Earth are directly attributable to growth driven economics. If it doesn’t stop, humans would be just one more species on the list of extinctions if there were anyone left to keep score.

One more thing about the present economic system, it cannot be simply fine tuned to bring growth down to zero and then continue to be used. This has to do with how the growth occurs through the creation of debt and how the debt is eliminated through the creation of money. In actual fact, the debt will never be paid off and was never intended to be, except for that portion which is owed by the ordinary citizens of the countries involved. The system must be completely broken and a new system which cares about people and the Earth must replace it.

There are alternatives.

Zero Growth economics, Steady State economics, Resource Based economics, barter, local currency, local economies, time banking, gifting, re-establishing the Commons, co-operatives, communes, reciprocity and any activity which is conducted co-operatively instead of competitively would all help to build a sufficient, sustainable and resilient society, something that we do not currently have.

Civilization has been an enormously disruptive and destructive force and cannot continue as is. In the past and at present, human efforts have been directed towards propping up this unsustainable endeavor by dividing life into 2 catogories; humans and everything else.

So far, the Human has mustered enough ingenuity to supress all other life-forms and still continue to proliferate. Civilization has covered such a short span of time, less than 500 years of the 500,000 years of modern human life, the 15,000,000 years of the family Hominidae, and the 2,100,000,000 years of life-on-Earth that a future alien Anthropologist (oxymoron intended) would have trouble believing that one species could have caused a major die-off which included itself in such short order.

So I’m hoping we don’t manage to do it. However, it is obvious that we will not make any of the right decisions to set ourselves on a better course so we will need outside help. Maybe the irony will be that the complex systems (such as perpetual-growth economics) we have devised but are unable to control will turn on us and bring the whole quaking edifice down around us.

I was hoping that would happen today.

What Might Happen Next and Why it has Scientists So Frightened

This is one section from an article in Rolling Stone titled

“The Point of No Return: Climate Change Nightmares Are Already Here”


Thanks to the pressure we’re putting on the planet’s ecosystem — warming, acidification and good old-fashioned pollution — the oceans are set up for several decades of rapid change. Here’s what could happen next.

The combination of excessive nutrients from agricultural runoff, abnormal wind patterns and the warming oceans is already creating seasonal dead zones in coastal regions when algae blooms suck up most of the available oxygen. The appearance of low-oxygen regions has doubled in frequency every 10 years since 1960 and should continue to grow over the coming decades at an even greater rate.

So far, dead zones have remained mostly close to the coasts, but in the 21st century, deep-ocean dead zones could become common. These low-oxygen regions could gradually expand in size — potentially thousands of miles across — which would force fish, whales, pretty much everything upward. If this were to occur, large sections of the temperate deep oceans would suffer should the oxygen-free layer grow so pronounced that it stratifies, pushing surface ocean warming into overdrive and hindering upwelling of cooler, nutrient-rich deeper water.

Enhanced evaporation from the warmer oceans will create heavier downpours, perhaps destabilizing the root systems of forests, and accelerated runoff will pour more excess nutrients into coastal areas, further enhancing dead zones. In the past year, downpours have broken records in Long Island, Phoenix, Detroit, Baltimore, Houston and Pensacola, Florida.

Evidence for the above scenario comes in large part from our best understanding of what happened 250 million years ago, during the “Great Dying,” when more than 90 percent of all oceanic species perished after a pulse of carbon dioxide and methane from land-based sources began a period of profound climate change. The conditions that triggered “Great Dying” took hundreds of thousands of years to develop. But humans have been emitting carbon dioxide at a much quicker rate, so the current mass extinction only took 100 years or so to kick-start.

With all these stressors working against it, a hypoxic feedback loop could wind up destroying some of the oceans’ most species-rich ecosystems within our lifetime. A recent study by Sarah Moffitt of the University of California-Davis said it could take the ocean thousands of years to recover. “Looking forward for my kid, people in the future are not going to have the same ocean that I have today,” Moffitt said.

As you might expect, having tickets to the front row of a global environmental catastrophe is taking an increasingly emotional toll on scientists, and in some cases pushing them toward advocacy. Of the two dozen or so scientists I interviewed for this piece, virtually all drifted into apocalyptic language at some point.

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