Wood-burning motorcycle

htp: Dark Roasted Blend

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Update on bee deaths

According to Michael Snyder, about a third of US bees were wiped out this year. He goes on to discuss suspected causes and give a long list of important crops that require insect pollination.

All original material is copyright of its author. Fair use permitted. Contact via comment. Nothing here should be taken as personal advice, financial or otherwise. No liability is accepted for third-party content, whether incorporated in or linked to this blog; or for unintentional error and inaccuracy. The blog author may have, or intend to change, a personal position in any stock or other kind of investment mentioned.

Peak Oil, EROEI and the Muffled Drum

An interesting thing happened last month. The Oil Drum, a well-regarded website + blog, announced it was ceasing operations and archiving itself for posterity. Well, everything has its day - we can all list blogs that were thriving a few years back but are no longer with us.

Some have suggested it was the extraordinary shale-based renaissance of US gas and oil production that did for the Drum. Probably not. But, fairly or unfairly, the Drum was associated with 'peak oil', which at its simplest is a view (or theory or doctrine or whatever) that global oil production - as a function of oil-in-the-ground - is doomed to peak, after which we start 'running out of oil'.

At its simplest, it is Malthusian hogwash. Of course, there are more nuanced versions than that, and the Drum shouldn't be tarred with the brush one would use for countering hogwash. Much more important is the concept of EROEI - energy return on energy invested, which has been another Drum favourite. And this concept really does bear careful consideration. Declining EROEI could be the end of civilisation as we know it for, in the immortal words of James Lovelock - "civilisation is energy-intensive". Better believe it.

So - no more drum-beat. But you'll not stop hearing about EROEI.


This post appeared first on the Capitalists@Work blog


All original material is copyright of its author. Fair use permitted. Contact via comment. Nothing here should be taken as personal advice, financial or otherwise. No liability is accepted for third-party content, whether incorporated in or linked to this blog; or for unintentional error and inaccuracy. The blog author may have, or intend to change, a personal position in any stock or other kind of investment mentioned.

Are homicide and inequality inversely related?

http://www.libertarianprepper.com/the-sinister-roots-of-socialism/gini-index-usa/

 

 http://www.bjs.gov/content/pub/pdf/htus8008.pdf

 

All original material is copyright of its author. Fair use permitted. Contact via comment. Nothing here should be taken as personal advice, financial or otherwise. No liability is accepted for third-party content, whether incorporated in or linked to this blog; or for unintentional error and inaccuracy. The blog author may have, or intend to change, a personal position in any stock or other kind of investment mentioned.

Who's Who in the UK Government

See the full-sized list here (pdf).

All original material is copyright of its author. Fair use permitted. Contact via comment. Nothing here should be taken as personal advice, financial or otherwise. No liability is accepted for third-party content, whether incorporated in or linked to this blog; or for unintentional error and inaccuracy. The blog author may have, or intend to change, a personal position in any stock or other kind of investment mentioned.

UK News media "among most corrupt in the world"

Transparency.org's 2013 interactive Global Corruption Barometer lists only 4 countries (out of 107) where the media are perceived to be among the most corrupt institutions: Egypt, Australia, New Zealand - and the UK.

Less surprisingly, political parties in about half of the 107 countries are also perceived to be corrupt. And that includes the UK.

Here, it's getting worse. When I first looked at Tranparency's surveys in 2008, the UK's overall perceived-corruption score had dropped from 8.4 the year before, to 7.7 (10 represented squeaky clean). The scoring is slightly different now - out of 100 - but for 2012 the British figure is 74, which I assume translates to 7.4 under the old system (the US scores 73).

Admittedly, these surveys are about the perception of corruption, and news-fed democracies may perhaps tend to be more cynical nations. But perceptions matter, and this decline in public trust, also shown in dwindling electoral turnouts, threatens the legitimacy and stability of our system of government.

All original material is copyright of its author. Fair use permitted. Contact via comment. Nothing here should be taken as personal advice, financial or otherwise. No liability is accepted for third-party content, whether incorporated in or linked to this blog; or for unintentional error and inaccuracy.

Interest rates will trigger the meltdown - Hugo Salinas Price

In King World News (2 August) Hugo Salinas Price alerts us to the threat of interest rate rises, which he describes as "fatal" and leading to worldwide "massive bankruptcies".

I'd known that derivatives are a huge market; what I hadn't realised was that the overwhelming majority of the contracts are related to interest rates.

The graph below is a visualisation of data from this Wikipedia article on the derivatives market:

Theoretically all the bets net off against each other, but we've seen what happens when a counterparty defaults (Lehman etc). Now consider that the annual GDP of the USA is only 3% of the notional value of interest rate contracts alone.

Frightening.

All original material is copyright of its author. Fair use permitted. Contact via comment. Nothing here should be taken as personal advice, financial or otherwise. No liability is accepted for third-party content, whether incorporated in or linked to this blog; or for unintentional error and inaccuracy. The blog author may have, or intend to change, a personal position in any stock or other kind of investment mentioned.