mkwin wrote: The ability to pay interest comes from the resources available.
Sigh....Obviously, you
did not read the thread I linked to.
However, governments will be running deficits so this will be creating an expanding money supply.
That's what we are doing now. So, you say the solution to no growth is to print more money (monetize the debt), so that those things that are being produced with the declining energy supply will be driven sky high?
Who is going to buy this debt? 80% of the world's savings are already appropriated to keep America afloat.
U.S. Central Intelligence Agency (CIA)
Rank Order - Current account balance (in billions of dollars)
1 China $ 179 billions
2 Japan $ 174
3 Germany $ 135
4 Russia $ 105
5 Saudi Arabia $ 103
6 Norway $ 63
7 Switzerland $ 50
8 Netherlands $ 50
9 Kuwait $ 41
...
158 India $ -26
159 France $ -38
160 Australia $ -42
161 United Kingdom $ -58
162 Spain $ -99
163 United States $ -862
How is that a solution? Money does not create energy. Energy creates money.
MonteQuest, I’d be interested to know your views on Lynch, why are his arguments incorrect? I certainly don’t believe the peak if 2030 or whatever he says but I found his argument and experience compelling.
Read the Lynch thread. You are a lazy poster. You want us to do all the heavy lifting for you.
Sorry, not your errand boy.
A Saudi saying, "My father rode a camel. I drive a car. My son flies a jet-plane. His son will ride a camel."