Big Choice

While Rome (and the Western US) Burns...

Author: 
John Fullerton

It’s officially election season, and (surprise) we’re off to a terrific start. There are plenty of very real short and medium term issues for the candidates to mold their ideologies around. Most notably, like much of the so-called “developed world,” the US has a jobs crisis, both in quantity and quality, that challenges modern capitalism for answers it does not have.

Yet at the same time, there is of course the undeniably accelerating crisis of human civilization, looming ever more visible on the horizon.

Isaac was no Katrina, but this year’s heat records and subsequent drought across the Western United States give new meaning to the phrase “red state,” as this map nicely illuminates:

Financial Overshoot

Author: 
John Fullerton
Last week, I gave a talk to the Missouri Association of Public Employee Retirement Systems annual meeting.  This was the first time I presented my developing thesis of financial overshoot, which arithmetically accompanies ecological overshoot unless we manage to decouple economic growth from material resource throughput in the economy, the Hail Mary pass of all time.
 
The implications are not comforting for investors, especially for pension funds which have plenty of problems already with underfunded pension plans in a climate of financial repression caused by zero interest rates and economic stagnation.

Ending the Debate on Keystone

Author: 
John Fullerton

In his February 10th essay, New York Times columnist Joe Nocera asked a simple question: “Can a person support the Keystone XL oil pipeline and still believe that global warming poses a serious threat?”

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