Falling interest rates have huge power. My background is as an actuary, so I am very much aware of the great power of interest rates. But a lot of people are not aware of this power, including, I suspect, some of the people making today’s decisions to raise interest rates. Similar people want to sell securities now being held by[Read More...]
For a long time, hats were oversized and expensive status symbols more than tools for protecting people’s heads. During the past half century or so, they have nearly disappeared. A similar destiny may befall on private cars, also oversized and expensive status symbols rather than tools for transporting people. With the disappearance of cars, we may see hats coming back. [Read More...]
Antonio Turiel keeps what I think is one of the best blogs in the world (perhaps the best) dedicated to energy and fossil fuels: The Oil Crash. Too bad that, despite the title, the blog is written in Spanish. But if you can read Spanish or are willing to spend some time to decipher a Google translation, then you can truly[Read More...]
Most people assume that oil prices, and for that matter other energy prices, will rise as we reach limits. This isn’t really the way the system works; oil prices can be expected to fall too low, as we reach limits. Thus, we should not be surprised if the OPEC/Russia agreement to limit oil extraction falls apart, and oil prices fall[Read More...]
Today is Ambedkar Jayanti. It would be appropriate to take a re-look at Ambedkar's idea of nationalism in the face of virulent Hindutva nationalism in India and also on the global context
Today, as the dominant global power, the US roles out its brand of unfettered capitalism across the world. US citizens constitute just five percent of the world’s population but consume 24 percent of global energy. Consider the consequences of a US-style model of ‘development’ if it were to be aspired to and copied throughout the world (which it is in places[Read More...]
I was asked to give a talk to a committee of actuaries who are concerned about modeling the financial future of programs, such as pension plans, given the energy problems that are often discussed. They (and the consultants that they hire) have been using an approach that puts problems far off into the future. I was trying to explain why[Read More...]
[audio mp3="http://www.corbettreport.com/mp3/qfc028-lq.mp3"][/audio]Did you know that Cheney and Obama are eighth cousins? Or that Obama and McCain were 22nd cousins? Or that every US president in history can trace their roots back to British royalty? Is it true, and if so, what does it mean? Join James for this month's edition of Questions For Corbett where he ponders this as well as natural monopolies, the viability of conspiracy theories, peak oil, 3D chess and more.
