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Tag Archives: debt default
The Physics of Energy and the Economy
I approach the subject of the physics of energy and the economy with some trepidation. An economy seems to be a dissipative system, but what does this really mean? There are not many people who understand dissipative systems, and very … Continue reading
Ten Reasons Why a Severe Drop in Oil Prices is a Problem
Not long ago, I wrote Ten Reasons Why High Oil Prices are a Problem. If high oil prices can be a problem, how can low oil prices also be a problem? In particular, how can the steep drop in oil … Continue reading
Posted in Financial Implications
Tagged crude exports, debt default, employment, LNG exports, low oil price, oil exporters, shale oil
1,055 Comments
Debt: Eight Reasons This Time is Different
In today’s world, we have a huge amount of debt outstanding. Academic researchers Carmen Reinhart and Kenneth Rogoff have become famous for their book This Time is Different: Eight Centuries of Financial Folly and their earlier paper This Time is Different: … Continue reading
Two Views of our Current Economic and Energy Crisis
As the US heads toward debt default and continues with government shutdown, the underlying reason for the predicament is generally not clear to the American people or the world. The story that the press has generally been feeding us places … Continue reading
Posted in Financial Implications
Tagged alternative energy, collapse, debt default, government debt, oil price, production function, recession
388 Comments
Reaching Debt Limits
If an economy is growing, it is easy to add debt. The additional growth in future years provides money both to pay back the debt and to cover the additional interest. Promotions are common and layoffs are few, so a … Continue reading
