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Global markets implode

WORLD TEETERING ON EDGE OF FINANCIAL ARMAGGEDON AS GLOBAL MARKETS IMPLODE

Last week the Palaszczuk Government committed another $62 billion to its planned green energy revolution in Queensland.

Where are they getting all the money from?  Does anybody know?  Because Treasury sure as hell doesn’t have it!

It used to be that if you put a program into effect, you had to explain how you were going to pay for it.

Not anymore.

Now governments just ‘pull more cash from the future into the now’, as the debt-based economic model keeps chugging along.

But its starting to look like the end is nigh for all our free-wheeling, big-spending governments.

Worldwide, inflation is spiking, consumer demand cratering and global markets imploding.

Not just some markets – ALL of them.  Commodities, stocks, bonds, real estate, currency, the lot.

Stocks alone have plunged $12 trillion since January.  A loss of nearly 30 percent.

The world is in the grip of a serious liquidity crisis and eventually something is going to break.

The clues are everywhere.

Take currencies.  Just about every major currency is crashing against the US dollar right now, and I mean crashing.

Some are down 10, 20 even 30 percent.

Last week the UK pound plummeted five percent in a single day against the dollar.  That’s the sign of something breaking right there.  The sound of a rivet popping out of a ship’s hull under pressure.

The bond market is also tanking.  It is being sold off and sold hard.  That’s because people need the cash more than they need to hold bonds, so tank they go.

Last week the Bank of England capitulated and restarted quantitative easing.  It was forced to intervene after a massive sell-off created huge instability in the bond (debt) markets over there.

Meanwhile global asset prices have lost 29 trillion dollars in 2022, give or take.  That’s huge.

What caused this massive asset bubble?  Central banks printing money!

Now they’ve stopped and prices are plummeting.

It’s the same with real estate.  The 30-year mortgage rate is spiking and house prices are sinking lower and lower.

It’s 2008 all over again.

Only this time we don’t just have a housing bubble to worry about, its stocks, bonds and commodities in a bubble as well.

If they all crack, we are in serious trouble.

None of it is ‘by accident’.

Since 2008, central banks have been printing money at breakneck speed, flooding the market with liquidity and now they’re taking it all away.

People everywhere are buried beyond their wildest dreams in debt.  Debt they can never, ever pay back.

This hyper bubble in debt has created a human bubble and there is going to be a terrible price to pay for all this.

A terrible price.

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Net Zero Transformation

THE COST OF AUSTRALIA’S NET ZERO ‘TRANSFORMATION’

On 25 August 2022, Net Zero Australia (NZA) released an interim report detailing various scenarios for Australia successfully reaching Net Zero by 2050.

The group, including University of Queensland, University of Melbourne, Princeton University and Nous Group, estimate that Australian governments will need to spend between $100 and $150 billion a year in order to phase out fossil fuel generators in favour of renewable energy.

In terms of providing a comprehensive ‘cost-benefit analysis’, however, the NZA report fails to properly assess the true impact involved in in terms of costs, lifestyle and land use.

Instead, the report relies heavily on the use of ‘models’ and a set of extremely ‘iffy’ assumptions that fail to stand up to scrutiny.

The Chair of the Net Zero Steering Committee, Robin Batterham, said:

“Our findings show there are no two ways about it – to meet net zero by 2050, AUSTRALIA MUST TRANSFORM.”

He got that part right.

Net Zero will mean a complete transformation of Australia.

We are looking at 30 years of intense social and economic disruption, greatly diminished living standards and the imposition of a command economy.

In terms of electricity capacity alone, Australia’s grid will need to be almost three times bigger by 2050.

Most homes and buildings will need to be rewired, as will the mains fuse, street distribution and local substations.

The cost of electricity will skyrocket in order to repay these major capital costs over the lifetime of the assets.

More importantly, it is all going to take an extraordinary amount of land.

And I am not talking about land in the remote outback either.

These industrial scale renewables structures will have to be sited on land close to the cities and towns they are intended to power.

The public simply has no idea how much land use this will involve.

Solar and wind farms alone will eliminate farmland, vegetation, forests and disrupt natural habitats.

Once you add biofuel to the mix, then there’s pretty much ALL your good land gone.

This is only a tiny fraction of what ‘Net Zero’ will involve.

Australian governments and policymakers need to start being honest with the public about the true cost of this transformation, and the extent to which it will radically alter their individual lives, lifestyles, mobility, finances, property rights and jobs.

Net Zero is an idea that you could only believe possible if you have no idea how the energy economy works or how energy is produced.

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