“Greece should default and abandon the euro”

Here’s one solution to the eurozone crisis: Greece defaults and leaves the eurozone, returning to the drachma, enabling it to weaken its currency to compensate for any future lack of competitiveness (or strengthen in response to excess competitiveness). Existing creditors of the Greek government form an orderly queue and negotiate the existing debts. And holidays […]

The supply of money in an energy-scarce world

“Money has no value unless it can be exchanged for goods and services. These cannot be supplied without the use of some form of energy.” “Consequently, if less energy is available in future, the existing stock of money can either lose its value gradually (through inflation). Or if inflation is resisted, [the existing stock of money] […]

Oceans (and people) under massive threat

A group of leading world experts has met to discuss the state of the world’s oceans. Their findings, surprising even to them, are that the oceans of the world are under more severe stress than already understood. Conditions are now being created that are the same as all five mass-extinctions in the past 600 million […]

Financial benefits of green spaces and ecosystems

“If the UK’s ecosystems are properly cared for, they could add an extra £30bn a year to the UK’s economy; if they are neglected, the economic cost would be more than £20bn a year… Inland wetlands, for instance, are worth £1.5bn a year in improving water quality alone, and pollinators such as bees are worth […]

Severe floods in Queensland, Australia

Brisbane, Australia faces a ‘postwar’ scale rebuild after “raging floodwaters” “devastated” three quarters of the state of Queensland. The damage affected homes, businesses, schools, hospitals, roads, sewers and drainage systems. Insurance claims are expected to reach A$1bn.  173 people died. The mining industry was disrupted and lost at least A$2.3bn ($2.3bn) in sales. Meanwhile in […]

Oil and gas prices no longer connected

The Financial Times recently ran a piece by one of its Alphaville reporters, showing a chart produced by Reuters, and used by Reuters, energy market consultant Nick Campbell at Inenco: The interesting point about the chart was that UK gas prices were no longer linked to oil prices. Historically, UK gas prices have apparently been linked […]