Understanding Deflation & the Economic Crisis - Nicole M. Foss (a.k.a. Stoneleigh)

Natural resource limits (peak oil) and the collapse of global Ponzi finance are a “perfect storm” of converging phenomena that threaten to trigger wealth destruction, social discontent, and global conflict. Nicole plans to discuss the many converging factors that are contributing to the predicament we face today, and how individuals can build a “lifeboat” to cope with the difficult years ahead.

Nicole will argue that the current credit bubble has developed in the context of the fossil fuel age, which will prove to be a relatively brief period of human history. We have already seen oil reach a global production peak, and other fossil fuels are not far behind, she says. While there is still plenty of fossil fuel in the ground, production will fall, meaning that there will be less and less energy available to power the economy at prices we can afford to pay.

Nicole writes under the name “Stoneleigh” at the website The Automatic Earth (www.theautomaticearth.blogspot.com). She and her writing partner have been chronicling and interpreting the on-going credit crunch as the most pressing aspect of our current multi-faceted predicament. The site integrates finance, energy, environment, psychology, population and real politik in order to explain why we find ourselves in a state of crisis and what we can do about it. Prior to the establishment of The Automatic Earth, she was editor of The Oil Drum Canada, where she wrote on peak oil and finance.

PS: For those unable to attend, Nicole will do the same presentation again on September 2nd at the McNabb Community Centre http://transitionottawa.ning.com/events/understanding-deflation-the-1