The USA annual inflation rate for September 2022 was 8.2%
Lower than expected! Please for the love of god pump the brakes fed.
The story of humanity is the consumption of energy trading off low-density energy consumption for high-energy-density products. Those burning cow paddies should be encouraged to go to coal fuel consumption. Coal fuel consumption to oil and oil to hopefully nuclear. Nuclear to hopefully one-day soon fusion. Human beings have an insatiable desire for energy use. That isn't going to change. Energy use is highly correlated with quality of life. Look at celebrities, world leaders, and the elite's use of energy even when advocating against it such as jetting around to climate summits or paying for an entire yacht team to fly back to Switzerland after attending a climate conference.You are putting too much credit on technology. How much energy did that army unit spent in 1919, and how much energy does it spend in 2022?
Energy is the key limit, new technology just allowed us to capture and use more of it. There are other resources too which are not infinite. But make a graph of economic growth versus energy use per capita and be scared.
And energy is a hard limit because at some point, even if we were to discover magic unicorn energy, we would boil out the oceans using it. There is a limit to how much the planet can radiate without raising surface temperature significantly. We won't be able to go on as we did in the 20th century. The trend won't hold.
As a race, humanity must really sort out what to do in the future with this planet we depend on. It has a carrying capacity, Malthus will be wrong only for so long. Spending energy trading pictures of smiling apes and calling it economic growth won't do. Not everything new is fine and dandy.
This means that even the techno-bros escape plans of settling other planecs cannot work to sustain the trend. It0's literaly physically impossible to continue "growing" at the rate we're user to.
You really think that a typical US army unit uses less fuel now than an equivalent one would have in 1919? The units have many more vehicles and the vehicles require more fuel. There was also a massive amount of energy used to create the infrastructure that makes the trip easier today than it was then.
I agree with your definition of economic growth, but it's absolutely true that in energy terms we've gained in efficiency and all the efficiency gains have gone to doing more stuff, rather than doing the same stuff with fewer inputs.
There may well be some of you posting here that will be alive in 2100, but I suspect most of those won't really care much about the extended future. At the point in life one's focus tends to be more day to day.I see nothing wrong with the conclusions that the trendlines can only be extrapolated so far. Even I, the weirdest transhumanist on CFC in the aughties, didn't know what I was going to do after I colonized a star. The definition of growth we have now isn't really workable. Applying it to whatever happens after any step-change surprises (up or down) doesn't really make sense either.
As a parent, I do get distressed at graphs that end at 2100 CE. I've kids who'll be alive then. Some of the people on the board will be alive then. Like, we kinda should have some guesses as to what might happen then, and then tweak towards the better possible outcomes.
In USA it seems like the last 50 years have been quite bad for average workers due to inflation of consumer prices eating up pretty much all wage growth. So complaining about inflation and or low wage growth seems pretty valid.You know, 40 years ago, inflation topped out at an annual rate of 15.2%. This came at the end of a small recession. I was 23 and I can assure you it was way worse. Fuel prices more than doubled.
Speaking of recessions: I went back and checked to make sure my memory was correct. In every decade since I was born, there was at least one recession. There were two in the Sixties and two in the Eighties.
However the various countries seems to have peformed very differently, the problem for USA which is probably the worst performing "rich" country seems to be strongly tied to that a few key items such healthcare, education, childcare and rent gotten way too expensive while also being of doubious quality.No, we need to start complaining and voting about the huge flaws in capitalism our elected representatives don't want to effectively address.
The national railroad strike is back on, possibly for December 9th!The strike has been averted on the last day!
No more firings for unexpected trips to the hospital.
The deal to avert a national railroad strike that President Joe Biden announced Thursday does not mean business leaders should assume that the chances of a service stoppage have completely passed.www.forbes.com
SMART-TD, one of the largest railroad labor unions, voted down the tentative agreement with rail management, raising the likelihood of a strike in December. The BLET, the other largest union which represents engineers, voted to ratify the labor deal but said it will honor the picket line.
“We stood shoulder to shoulder with our brothers and sisters in SMART-TD and others in rail labor throughout this process and we will continue to stand in solidarity with them as we approach the finish line in this round of negotiations,” said BLET President Dennis Pierce.
Any lingering worry he might have felt likely lifted after the White House said the prince, known as MBS, had immunity in a civil lawsuit filed by the former fiancée of Jamal Khashoggi who was murdered and dismembered inside the Saudi consulate in Istanbul in 2018.
The decision by the Biden administration granting MBS immunity drew immediate condemnation from Kashoggi's former fiancé Hatice Cengiz, who tweeted, "We thought maybe there would be a light to justice from #USA But again, money came first."
Ugh, we need less inflation not more.
Now that the mid-term elections are over, Biden has granted MBS immunity on November 18 for murdering that journalist.
STORY: Saudi Crown Prince Mohammed bin Salman arrived at a summit of world leaders in Thailand on Friday.His first-class welcome underscoring his comfort among his peers despite his alleged involvement in the brutal killing of a U.S.-based Saudi journalist. Any lingering worry he might have...news.yahoo.com
The Saudis have responded in the usual fashion that Washington loves the most.
Saudi Arabia said OPEC+ was sticking with cuts and could take further measures to balance the market amid falling prices, denying a report it was considering boosting output, according to state news agency SPA.www.reuters.com