Pops wrote:Eventually a capitalist world made by robots and AI will grind to a halt.
Yes and that will be a real fun to watch.
Pops wrote:Eventually a capitalist world made by robots and AI will grind to a halt.
BrianC wrote:Half World's Fossil Fuel Assets Could Become Worthless by 2036 in Net Zero Transition
I like the idea of governments capitalizing their citizens, very much like banks do, but without restriction. The program could work something like this: when you first become of age, you are eligible to borrow for a purpose. The purpose would be to borrow toward something for which the money you borrowed was actually capital.
BrianC wrote:Half World's Fossil Fuel Assets Could Become Worthless by 2036 in Net Zero Transition (theguardian.com) 7
Posted by msmash on Friday November 05, 2021 @02:46PM from the closer-look dept.
About half of the world's fossil fuel assets will be worthless by 2036 under a net zero transition, according to research. From a report:
Countries that are slow to decarbonise will suffer but early movers will profit; the study finds that renewables and freed-up investment will more than make up for the losses to the global economy. It highlights the risk of producing far more oil and gas than required for future demand, which is estimated to leave $11tn-$14tn in so-called stranded assets -- infrastructure, property and investments where the value has fallen so steeply they must be written off. The lead author, Jean-Francois Mercure of the University of Exeter, said the shift to clean energy would benefit the world economy overall, but it would need to be handled carefully to prevent regional pockets of misery and possible global instability. "In a worst-case scenario, people will keep investing in fossil fuels until suddenly the demand they expected does not materialise and they realise that what they own is worthless. Then we could see a financial crisis on the scale of 2008," he said, warning oil capitals such as Houston could suffer the same fate as Detroit after the decline of the US car industry unless the transition is carefully managed.
https://www.theguardian.com/environment ... transition
Alfred Tennyson wrote:We are not now that strength which in old days
Moved earth and heaven, that which we are, we are;
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will
To strive, to seek, to find, and not to yield.
Plantagenet wrote:"Its tough to make predictions, especially about the future ----Yogi Berra
I don't know what's going to happen in 2036 but I know what's going to happen next year.......
I predict oil consumption will continue to increase and the world will set a new record in fossil fuel consumption next year.
I predict the return to growth in oil consumption will drive up oil prices next year.
I predict more CO2 will be emitted due to fossil fuel consumption then ever before
I predict global warming will increase to a new high next year.
AND....I predict senile old Joe Biden will continue to do incredibly stupid things next year.
I can predict the future ...... but only one year ahead at a time!
Cheers!
Outcast_Searcher wrote:
I predict that whatever "dumb" things Biden does in 2022, he'll still have about 100 IQ points on Trump, re practicality.
Outcast_Searcher wrote: Joe Biden....about 10X re frequency of truth telling vs. making things up
Investment in nuclear power is the only sane option until the storage problem is substantially addressed. I see lots of hype about new storage tech but there is nothing to show for it year after year.
Doly wrote:I like the idea of governments capitalizing their citizens, very much like banks do, but without restriction. The program could work something like this: when you first become of age, you are eligible to borrow for a purpose. The purpose would be to borrow toward something for which the money you borrowed was actually capital.
Giving the same opportunity to everyone sounds fair, but in practice it may not be. Somebody from a rich family would have their family's money to fall back on if they made a mistake. While somebody in a poor area may find increased risks in their area, and be more likely to find themselves unable to repay the loan, through no fault of their own. It's my observation that loans seem like very different things to poor people and to rich people.
evilgenius wrote:I think the best thing about it would be that those who best used the opportunity would sort of shame those who didn't into participating, for the right reasons.
evilgenius wrote:You have made me wonder if anti-intellectualism can't be a metaphor for more complex interactions within society than I ever thought?
Outcast_Searcher wrote:evilgenius wrote:I think the best thing about it would be that those who best used the opportunity would sort of shame those who didn't into participating, for the right reasons.
Well, that's how it should work, IMO, and how it used to work in the US, for the most part.
And I'm not talking about people who are physically or mentally incapable of working, but people who are of reasonably sound mind and body, who can learn and work.
But today we have an awful lot of shaming the successful, constantly trying to tax them far more, and claim they didn't earn their success, but that it was given to them by government, etc. And that no amount of give-away programs is enough, no matter how large the US debt grows.
Some of what the far left is trying to sell seems upside-down to me.
The rich should pay more taxes. Re income taxes, the 1 percent pay over 40% of the income taxes, while earning over 20% of the income. At the same time, the bottom 50% pay about 3% of the taxes. This seems about right to me, despite the endless crying.
If congress is willing to end the write-offs that let some billionaires pay no income taxes for many years -- fine. But they don't do that, which is on them.evilgenius wrote:You have made me wonder if anti-intellectualism can't be a metaphor for more complex interactions within society than I ever thought?
Ayn Rand's popular "Atlas Shrugged" was about this, and written in 1957.
When we forget the obvious in the west (work and intellectual property should be protected and rewarded, vs. stolen or disdained), over time it's to our own collective detriment.
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