General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsIf These Two Brilliant Investors Are Right About Future Growth, The World Is Screwed
WHAT distinguishes modern man from his ancestors is the expectation of steady economic and population growth. Since the start of the 19th century, both have taken off in a way that was not seen in ancient times or the middle ages.
As we look forward to the next 20-30 years, we can be pretty sure that population growth is going to slow, and in some countries, there will be a fall. Does the same apply to the economic growth rate?
Two fund management groups have just completed fairly gloomy notes on this subject. At Research Affiliates, Christopher Brightman suggests that US growth will only be 1% a year while Jeremy Grantham of GMO plumps for 1.4%. On their logic, the outlook for Europe, where the demographic trends are even less promising, is even worse.
If they are right, then the effects will be profound. As Mr Brightman points out, fiscal sums are usually calculated on the basis of a return to "normal" growth rates.
Read more: http://www.businessinsider.com/slow-growth-will-clobber-government-budget-deficits-2012-11
Things will be rather more grim in the US, which will fall back to mid-pack in the developed countries as developing countries compete for resources.
NYC_SKP
(68,644 posts)But even a child can figure out that population and economic growth are plainly unsustainable.
As long as we associate "growth" with "health" or "quality" we are doomed to implosion.
That always struck me, even as a kid, as well: It's a clearly finite planet -- what fool(s) would require an economic system dependent on infinite growth?
OldDem2012
(3,526 posts)QUOTE:
Climate change over the next 20 years could result in a global catastrophe costing millions of lives in wars and natural disasters..
A secret report, suppressed by US defence chiefs and obtained by The Observer, warns that major European cities will be sunk beneath rising seas as Britain is plunged into a 'Siberian' climate by 2020. Nuclear conflict, mega-droughts, famine and widespread rioting will erupt across the world.
The document predicts that abrupt climate change could bring the planet to the edge of anarchy as countries develop a nuclear threat to defend and secure dwindling food, water and energy supplies. The threat to global stability vastly eclipses that of terrorism, say the few experts privy to its contents.
'Disruption and conflict will be endemic features of life,' concludes the Pentagon analysis. 'Once again, warfare would define human life.'
aletier_v
(1,773 posts)"In 2011, Google was revealed to be working on plans for a space elevator at its secretive Google X Lab location"
FarCenter
(19,429 posts)It's possible that the economics become unfavorable before more than several degrees are baked in.
patrice
(47,992 posts)Trying not to be bitter about this, but, good god damned! we just had to have our holy fucking war against Islam/Choice/LGBTQs etc. etc. etc.
I'm a rational person; I WORK at understanding, but I don't believe I will ever forgive those damned End Timers, nor!!! will I forget.
dixiegrrrrl
(60,010 posts)the national debt ALSO grows, every year, according to a doubling time of about 7 years.
So, if our national debt is the 48% of GDP than most say it is.....
it doubles in 7 years
Thus pop. growth, debt growth and GDP growth are all unsustainable over time.
Just a race to see which one will reach the max first.
I opt for...debt.
RC
(25,592 posts)Sustainability is all that is required. Lots of businesses prosper on sustainability, instead of growth.
It is mostly greed that demands perpetual growth.
GeorgeGist
(25,323 posts)for those not as informed as yourself.
Thanks.
RC
(25,592 posts)In fact, most local businesses. That should be self evident.
Buns_of_Fire
(17,197 posts)So I believe it is with our economic system -- it contains the seeds of its own destruction, as long as Wall Street keeps pushing its "expectations" of 2-3-4-5-whatever% growth each and every friggin' quarter until the sun goes supernova. It can't and won't happen.
You can only fill a balloon so much before it pops -- and then it's of no use to anyone.
JaneyVee
(19,877 posts)And every now & then I realize we may have hit our techno-evolutionary peak. The only thing left is the singularity, or artificial intelligence.
GeorgeGist
(25,323 posts)to conclude that it's man who is unsustainable unnecessary.
WinkyDink
(51,311 posts)Kolesar
(31,182 posts)...if one assumes that the US population will grow and make the national debt seem "relatively smaller" than that of countries with a flat population "growth". This article shows that the assumption is "flawed".
patrice
(47,992 posts)addressing OTHER resources, such as, hemp?
I know that's no answer on the macro-level, but would NEW resources affect some of the depredations on the grassroots of what is going on up there?
What makes hemp new?
patrice
(47,992 posts)ChisolmTrailDem
(9,463 posts)is getting poorer. We are currently running on the momentum of 100 years of growth and that momentum is beginning to slow. Some day soon growth, even at 1% per annum, will go negative and global economic growth will cease. Those who feel otherwise or continue to invest as if growth is a given are fueled by a false optimism that is based either on naivete or on denial or are just plain oblivious.
WinkyDink
(51,311 posts)ChisolmTrailDem
(9,463 posts)and now it's been hovering around $90 for years now. Also, they are fracking for oil now which to me means conventional sources are depleted or nearly depleted. Saudi Arabia is ramping up solar energy research.
I don't know much about it, but it would seem to me that, under those circumstances, oil as a resource must be getting more scarce if market fundamentals reflect real-world realities. This same concept applies to all resources
I've also read that lithium and rare earth resources are also in short supply. Even wheat is not able to keep up with demand.
I'm not an expert but it just makes sense on a finite planet with a growing human population that economic growth will eventually succumb to resource scarcity.
antigone382
(3,682 posts)top soil, fresh water, fisheries, many species of trees, weather patterns favorable to agricultural production...
off the top of my head...
patrice
(47,992 posts)betting on whatever "archipelago" they have going on wherever.
aletier_v
(1,773 posts)patrice
(47,992 posts)reliance? economic dependence upon those off-planet resources???
NO. HELL!!! and I do mean, HELL, no!
patrice
(47,992 posts)FINANCIAL CONSEQUENCES.
Sounds like the new world order to me, so, upon re-consideration, just plain NO. HELL no!
Tobin S.
(10,418 posts)From the same site:
http://www.businessinsider.com/bill-mcbride-of-calculated-risk-2012-11
In a 30-minute conversation with Business Insider, he explained how charting these numbers every single month for nearly 8 years has allowed him to "let (the data) tell you a story," and accurately track each twist and turn we've seen during this historic period for the U.S. economy.
Because he's been so uncannily good at assessing the state of the economy, we had to get his take on what's coming next. Despite some concerns about the Fiscal Cliff, and the omni-present threat of a Europe blowup he says "Im not a roaring bull, but looking forward, this is the best shape weve been in since 97."
Underpinning his optimism is the fact that the State & Local bust will no longer be a drag in 2013, and that the housing turnaround story has a long way to go and is more robust than anyone would have expected, particularly in the hardest-hit areas.
snip
Why do I change my views? I dont know, I just go where the data leads me. I think its better question for some of the other people is why they didnt change theirs? And I think the answer is they tend to be bearish all the time. Youve been around long enough to know that theres a whole industry of gloom and doom, that the ZeroHedge mentality kind of guys. Im almost 60 years old. All my life theres been people telling me that the worlds gonna end for this and that reason in the next few years....
BeyondGeography
(39,382 posts)Me, I'm looking forward to community-based economics and the end of growth. The combination of technology, electricity, plumbing and efficient transportation rationally organized and sensibly consumed is more than enough to sustain us for many years to come, if, as Roger Waters once said in another vein, we all pull together as a team. Some deep blue parts of the country will get it and the usual suspects will claim a socialist conspiracy. Me, if I never get on a plane to sleep in a hotel cell room again I will be one happy man.
Then again, the loveliest part of the slowdown (the part when the new reality is not just inescapable but seen as a new sort of opportunity) will happen when I'm retired anyway. So, to you kids out there, embrace your regional/local futures. I think you'll have a better chance at happiness than many of us market-chasing postwar hamsters.