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Image | The US is Insolvent (and headed towards bankruptcy)
The US is Insolvent (and headed towards bankruptcy)
by Chris Martenson

Last night, in Boulder Colorado, I had the honor to present a one-hour mini version of the Crash Course to an audience that I estimate to be in the vicinity of 300+. Sponsored by Transition Colorado, who did a remarkable and professional job of organizing and managing the event, this talk was attended by more young people than any other talk I have given.

This was extremely heartening.

Dr. Albert Bartlett was in attendance, which was a great honor for me, although I confess to being nervous at the thought of covering exponential growth with him in the audience. It seemed kind of like giving meditation advice to the Dali Lama. Nonetheless, I now have a picture of myself with a man who I am sure will be recognized through time as being both right and unwavering in his views on exponential growth and population.

At the talk, I necessarily had to gloss over some important details, and one of those concerned the statement that “The United States is Insolvent.” 

I originally wrote about this unpleasant fact back in 2006 in a Martenson Report entitled The United States Is Insolvent.  And today, unfortunately, the situation has only deteriorated. I want to revisit that topic because there is really nothing more onerous to the future prosperity of a country than going bankrupt. If you care about the future prosperity of the US, you need to understand this situation.

Yesterday, my jaw literally dropped when I read this statement made by Vice President Joe Biden:

The US is Insolvent (and headed towards bankruptcy)
 by Chris Martenson

Last night, in Boulder Colorado, I had the honor to present a one-hour mini version of the Crash Course to an audience that I estimate to be in the vicinity of 300+. Sponsored by Transition Colorado, who did a remarkable and professional job of organizing and managing the event, this talk was attended by more young people than any other talk I have given.

This was extremely heartening.

Dr. Albert Bartlett was in attendance, which was a great honor for me, although I confess to being nervous at the thought of covering exponential growth with him in the audience. It seemed kind of like giving meditation advice to the Dali Lama. Nonetheless, I now have a picture of myself with a man who I am sure will be recognized through time as being both right and unwavering in his views on exponential growth and population.

At the talk, I necessarily had to gloss over some important details, and one of those concerned the statement that “The United States is Insolvent.” 

I originally wrote about this unpleasant fact back in 2006 in a Martenson Report entitled The United States Is Insolvent.  And today, unfortunately, the situation has only deteriorated. I want to revisit that topic because there is really nothing more onerous to the future prosperity of a country than going bankrupt. If you care about the future prosperity of the US, you need to understand this situation.

Yesterday, my jaw literally dropped when I read this statement made by Vice President Joe Biden:

Image | Trouble brewing at CIT group
Trouble brewing at CIT group
by Chris Martenson

From a recent In Session post:

This week, the big news is the trouble brewing at CIT group.  If you don’t know them, they are a large financial services firm, mainly providing loans and financing to mid-sized companies.

Their business model involves lending at one rate, then selling the loans to the market at a slightly lower rate and pocketing the difference.  Something like a bank, but they do not leverage their loans off of deposits.  Of course, I am simplifying the business model of a very large and diversified company.  Suffice it to say that the way the securitization market has been operating, and with the cost of capital climbing the way it has, their business model has gone to heaven.  It has shuffled off the mortal coil. 

At any rate, things have not looked good for a while.  This is one of the more horrid-looking charts you will ever see…

Trouble brewing at CIT group
 by Chris Martenson

From a recent In Session post:

This week, the big news is the trouble brewing at CIT group.  If you don’t know them, they are a large financial services firm, mainly providing loans and financing to mid-sized companies.

Their business model involves lending at one rate, then selling the loans to the market at a slightly lower rate and pocketing the difference.  Something like a bank, but they do not leverage their loans off of deposits.  Of course, I am simplifying the business model of a very large and diversified company.  Suffice it to say that the way the securitization market has been operating, and with the cost of capital climbing the way it has, their business model has gone to heaven.  It has shuffled off the mortal coil. 

At any rate, things have not looked good for a while.  This is one of the more horrid-looking charts you will ever see…

Image | New Martenson Report – The Coming Collapse
New Martenson Report – The Coming Collapse
by Chris Martenson

Enrolled members should have received this report on Sunday via e-mail.  If you did not, please contact us so we can make sure that you don’t miss future reports. 

If you are a registered user (not yet enrolled), this report is well worth upgrading for. 

The Coming Collapse

New Martenson Report – The Coming Collapse
 by Chris Martenson

Enrolled members should have received this report on Sunday via e-mail.  If you did not, please contact us so we can make sure that you don’t miss future reports. 

If you are a registered user (not yet enrolled), this report is well worth upgrading for. 

The Coming Collapse

Image | The Coming Collapse
The Coming Collapse
 PREVIEW
by Chris Martenson
Sunday, July 12, 2009

Executive Summary

  • Underlying beliefs can get in the way of action.
  • The status quo is unsustainable.
  • We face a future filled with "less" on many levels.
  • Surplus energy determines social complexity.
  • Peak Oil has passed and there is no return to the old economy.
  • We still have some choice in how this change plays out.
  • We must continue reformulating our beliefs and moving towards action.

The topic of this Martenson Report is one of the most important we will ever cover. My mission is to help you see that change is coming – potentially highly disruptive change – far enough in advance so that the opportunity exists to make gradual changes on your own terms.

Standing in the way of our taking actions are our beliefs, which we have formed over a lifetime of observation. For example, if I show someone forty-two very compelling graphs of Peak Oil, but the person remains unconvinced (as evidenced by their lack of action), I invariably find that they hold an underlying belief which is in conflict with the data.  Most often, that belief turns out to be "technology will save us."  This is a powerful belief, because it has been reinforced by a lifetime filled with the most exceptional technological progress ever seen in human history.  So it won’t matter if I show that person one graph, or ten, or forty-two, or a hundred.  That stuff is just data.  We take actions based on our beliefs.  But if a belief is in conflict with data, the belief wins every time.

Every day I try to convince people that one era is drawing to a close and a new era is beginning.  The lure of the old way is very strong.  It is constantly reinforced by a media machine and an interlocking institutional framework that are fully dedicated to preserving the status quo.

From my point of view, the status quo does not have a future.  It was unsustainable from the start, and even if we manage to resuscitate it for a few more years, nothing will change that fact.  Worse, every attempt to sustain the unsustainable results in squandering our precious remaining time and resources, which means that with these attempts, we relegate ourselves and our children to a future of decreased prosperity.
The Coming Collapse
 PREVIEW by Chris Martenson
Sunday, July 12, 2009

Executive Summary

  • Underlying beliefs can get in the way of action.
  • The status quo is unsustainable.
  • We face a future filled with "less" on many levels.
  • Surplus energy determines social complexity.
  • Peak Oil has passed and there is no return to the old economy.
  • We still have some choice in how this change plays out.
  • We must continue reformulating our beliefs and moving towards action.

The topic of this Martenson Report is one of the most important we will ever cover. My mission is to help you see that change is coming – potentially highly disruptive change – far enough in advance so that the opportunity exists to make gradual changes on your own terms.

Standing in the way of our taking actions are our beliefs, which we have formed over a lifetime of observation. For example, if I show someone forty-two very compelling graphs of Peak Oil, but the person remains unconvinced (as evidenced by their lack of action), I invariably find that they hold an underlying belief which is in conflict with the data.  Most often, that belief turns out to be "technology will save us."  This is a powerful belief, because it has been reinforced by a lifetime filled with the most exceptional technological progress ever seen in human history.  So it won’t matter if I show that person one graph, or ten, or forty-two, or a hundred.  That stuff is just data.  We take actions based on our beliefs.  But if a belief is in conflict with data, the belief wins every time.

Every day I try to convince people that one era is drawing to a close and a new era is beginning.  The lure of the old way is very strong.  It is constantly reinforced by a media machine and an interlocking institutional framework that are fully dedicated to preserving the status quo.

From my point of view, the status quo does not have a future.  It was unsustainable from the start, and even if we manage to resuscitate it for a few more years, nothing will change that fact.  Worse, every attempt to sustain the unsustainable results in squandering our precious remaining time and resources, which means that with these attempts, we relegate ourselves and our children to a future of decreased prosperity.
Image | A Quiet Revolution in Bicycles: Recapturing a Role as Utilitarian People-Movers (Part II)
A Quiet Revolution in Bicycles: Recapturing a Role as Utilitarian People-Movers (Part II)
by Chris Martenson

I am very pleased to offer you the second article in Dr. Morgan Giddings’ excellent two-part series on using bicycles as an alternative means of transportation.  Morgan’s commitment to using bicycles for transportation in her own life and her dedication to helping others find that path (if you’ll excuse the pun) is inspiring.

The entire article, available free to all readers, can be found here:

A Quiet Revolution in Bicycles: Recapturing a Role as Utilitarian People-Movers (Part II)

Below is a snippet to get you started.

 

So you’re inspired to try more biking…now what?

After learning about Peak Oil a few years back, I decided to get a cargo bicycle setup with an electric assist as an alternative to using a car for around-town trips…I quickly found out that it wasn’t a simple undertaking, despite my fairly broad experience. The local bike shops were not enthused by this project. They wouldn’t touch electric assist, and ordering an Xtracycle kit to convert my bike to a cargo hauler was something they were decidedly lukewarm about. Given that attitude, I decided to just order the parts through the Internet and do it myself. 

A Quiet Revolution in Bicycles: Recapturing a Role as Utilitarian People-Movers (Part II)
 by Chris Martenson

I am very pleased to offer you the second article in Dr. Morgan Giddings’ excellent two-part series on using bicycles as an alternative means of transportation.  Morgan’s commitment to using bicycles for transportation in her own life and her dedication to helping others find that path (if you’ll excuse the pun) is inspiring.

The entire article, available free to all readers, can be found here:

A Quiet Revolution in Bicycles: Recapturing a Role as Utilitarian People-Movers (Part II)

Below is a snippet to get you started.

 

So you’re inspired to try more biking…now what?

After learning about Peak Oil a few years back, I decided to get a cargo bicycle setup with an electric assist as an alternative to using a car for around-town trips…I quickly found out that it wasn’t a simple undertaking, despite my fairly broad experience. The local bike shops were not enthused by this project. They wouldn’t touch electric assist, and ordering an Xtracycle kit to convert my bike to a cargo hauler was something they were decidedly lukewarm about. Given that attitude, I decided to just order the parts through the Internet and do it myself. 

Image | New Martenson Report on Inflation and Deflation
New Martenson Report on Inflation and Deflation
by Chris Martenson

There’s a new Martenson Report ready for enrolled members.  

Link to Inflation vs. Deflation – What You Need to Know (Part II)

A snippet:

Executive Summary
  • Inflation or deflation? – the most important question of our day
  • Vast disagreements exist
  • Timing
  • Inflation = persistent increase in money and credit
  • Inflation Myths
  • What you can do

There is simply no more contentious or important issue sitting before everyone these days than resolving the question of whether deflation or inflation lies before us. Sides have been drawn, opinions hardened, and camps formed.

When I write these reports, I do my best to peer just a bit further down the road than most. I study and analyze and write because I have found great value in being ahead of the curve. Illuminating the path a bit further out can provide an enormous benefit, especially if actionable ideas are the result.

So let’s clear something up right away: Unless the economy collapses into a smoking deflationary ruin, there’s another business cycle in front of us. Nothing ever goes straight to zero, and the most probable outcome for the future involves a whole series of wiggles going up and down. While I am confident that the distant future most likely consists of a world of less, not more, I expect we will not get there in a straight line. My belief is that there’s a business cycle or two in front of us.

New Martenson Report on Inflation and Deflation
 by Chris Martenson

There’s a new Martenson Report ready for enrolled members.  

Link to Inflation vs. Deflation – What You Need to Know (Part II)

A snippet:

Executive Summary
  • Inflation or deflation? – the most important question of our day
  • Vast disagreements exist
  • Timing
  • Inflation = persistent increase in money and credit
  • Inflation Myths
  • What you can do

There is simply no more contentious or important issue sitting before everyone these days than resolving the question of whether deflation or inflation lies before us. Sides have been drawn, opinions hardened, and camps formed.

When I write these reports, I do my best to peer just a bit further down the road than most. I study and analyze and write because I have found great value in being ahead of the curve. Illuminating the path a bit further out can provide an enormous benefit, especially if actionable ideas are the result.

So let’s clear something up right away: Unless the economy collapses into a smoking deflationary ruin, there’s another business cycle in front of us. Nothing ever goes straight to zero, and the most probable outcome for the future involves a whole series of wiggles going up and down. While I am confident that the distant future most likely consists of a world of less, not more, I expect we will not get there in a straight line. My belief is that there’s a business cycle or two in front of us.

Image | Inflation vs. Deflation – What You Need to Know (Part II)
Inflation vs. Deflation – What You Need to Know (Part II)
 PREVIEW
by Chris Martenson
Sunday, July 5, 2009

Executive Summary

  • Inflation or deflation? – the most important question of our day
  • Vast disagreements exist
  • Timing
  • Inflation = persistent increase in money and credit
  • Inflation Myths
  • What you can do

There is simply no more contentious or important issue sitting before everyone these days than resolving the question of whether deflation or inflation lies before us. Sides have been drawn, opinions hardened, and camps formed.
Inflation vs. Deflation – What You Need to Know (Part II)
 PREVIEW by Chris Martenson
Sunday, July 5, 2009

Executive Summary

  • Inflation or deflation? – the most important question of our day
  • Vast disagreements exist
  • Timing
  • Inflation = persistent increase in money and credit
  • Inflation Myths
  • What you can do

There is simply no more contentious or important issue sitting before everyone these days than resolving the question of whether deflation or inflation lies before us. Sides have been drawn, opinions hardened, and camps formed.
Image | Happy 4th of July
Happy 4th of July
by Chris Martenson

Worth re-reading.

Here is the complete text of the Declaration of Independence.

Declaration of Independence

(Adopted by Congress on July 4, 1776)

The Unanimous Declaration of the Thirteen United States of America

When, in the course of human events, it becomes necessary for one people to dissolve the political bonds which have connected them with another, and to assume among the powers of the earth, the separate and equal station to which the laws of nature and of nature’s God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation.

We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable rights, that among these are life, liberty and the pursuit of happiness. That to secure these rights, governments are instituted among men, deriving their just powers from the consent of the governed. That whenever any form of government becomes destructive to these ends, it is the right of the people to alter or to abolish it, and to institute new government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their safety and happiness.

Happy 4th of July
 by Chris Martenson

Worth re-reading.

Here is the complete text of the Declaration of Independence.

Declaration of Independence

(Adopted by Congress on July 4, 1776)

The Unanimous Declaration of the Thirteen United States of America

When, in the course of human events, it becomes necessary for one people to dissolve the political bonds which have connected them with another, and to assume among the powers of the earth, the separate and equal station to which the laws of nature and of nature’s God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation.

We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable rights, that among these are life, liberty and the pursuit of happiness. That to secure these rights, governments are instituted among men, deriving their just powers from the consent of the governed. That whenever any form of government becomes destructive to these ends, it is the right of the people to alter or to abolish it, and to institute new government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their safety and happiness.

Image | Awareness and Compassion
Awareness and Compassion
by Chris Martenson

The following is a free Martenson Report that is well worth reviewing.

The Six Stages of Awareness

A broad new awareness often results in a series of emotional responses that mimic the grief associated with loss. This report identifies what I call the Six Stages of Awareness (loosely modeled on the Five Stages of Grief).  You may find it useful to share this report with friends and family who are struggling with their feelings about our current and future economic outlook, Peak Oil, environmental issues, or any of the other issues that we routinely discuss here at PeakProsperity.com. 

If you have already read this report, I strongly encourage you to read it again. It is a good reminder that everyone is naturally at their own stage in the journey. We all deserve the compassion and acceptance of others as we prepare ourselves for a different kind of future.

Awareness and Compassion
 by Chris Martenson

The following is a free Martenson Report that is well worth reviewing.

The Six Stages of Awareness

A broad new awareness often results in a series of emotional responses that mimic the grief associated with loss. This report identifies what I call the Six Stages of Awareness (loosely modeled on the Five Stages of Grief).  You may find it useful to share this report with friends and family who are struggling with their feelings about our current and future economic outlook, Peak Oil, environmental issues, or any of the other issues that we routinely discuss here at PeakProsperity.com. 

If you have already read this report, I strongly encourage you to read it again. It is a good reminder that everyone is naturally at their own stage in the journey. We all deserve the compassion and acceptance of others as we prepare ourselves for a different kind of future.

Image | Oil, More and Less
Oil, More and Less
by Chris Martenson

Another post of interest from the In Session archives:

Oil is a tale of more and less.

Here’s the more:

Saudi Arabia has started production from its giant Khurais oilfield, the largest ever single addition to global oil supplies, Saudi Aramco’s top executive said in remarks broadcast on Wednesday. 

Oil, More and Less
 by Chris Martenson

Another post of interest from the In Session archives:

Oil is a tale of more and less.

Here’s the more:

Saudi Arabia has started production from its giant Khurais oilfield, the largest ever single addition to global oil supplies, Saudi Aramco’s top executive said in remarks broadcast on Wednesday. 

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