part one:the end o an era
the our actors which are bringing down the curtain on growth
The economy as we know it is acing a lethal confuence o our critical actors – the all-outrom the biggest debt bubble in history; a disastrous experiment with globalisation; themassaging o data to the point where economic trends are obscured; and, most important o all, the approach o an energy-returns cli-edge.
part two:this time
the implosion o the credit super-cycle
The 2008 crash resulted rom the bursting o the biggest bubble in nancial history, a ‘creditsuper-cycle’ that spanned three decades. Why did this happen?
part three:the globalisation disaster
globalisation and the western economic catastrophe
The Western developed nations are particularly exposed to the adverse trends explored in thisreport, because globalisation has created a lethal divergence between burgeoning consumptionand eroding production, with out-o-control debt used to bridge this widening chasm.
part our:loaded dice
how policies have been blind-sided by distorted data
The reliable inormation which policymakers and the public need i eective solutions are tobe ound is not available. Economic data (including infation, growth, GDP and unemployment)has been subjected to incremental distortion, whilst inormation about government spending,decits and debt is extremely misleading.
part fve:the killer equation
the decaying growth dynamicThe economy is a surplus energy equation, not a monetary one, and growth in output(and in the global population) since the Industrial Revolution has resulted rom theharnessing o ever-greater quantities o energy. But the critical relationship betweenenergy production and the energy cost o extraction is now deteriorating so rapidly thatthe economy as we have known it or more than two centuries is beginning to unravel.
energy, nance and the end of growth