Archive for the ‘Nicole Foss’ Category

Nicole Foss / Stoneleigh in Gothenburg

In Swedish / på svenska.

Last Monday I went to Ekocentrum in Gothenburg to listen to Nicole Foss, also known as Stoneleigh from The Automatic Earth blog. Interestingly, the lecture hall was packed (I heard people talking outside about being on the reserve list) with mostly young listeners. I sometimes wonder if I’m the only one reading all those obscure blogs so it was nice to see so many of like mind. If nice is the right word for the fact that “doomer” scenarios are in the air…

The lecture was very interesting, and my short summary of the message follows:

At the fundamental level, we’re facing an energy crisis – peak oil This will cause us problems since our economic growth has been built on increasing use of energy and, particularly during the last thirty years, has driven an enormous credit bubble. Such bubbles are basically pyramid schemes and they attract huge amounts of money since everyone thinks they’ll get rich. All goes well as long as there’s still money to feed into the pyramid scheme. When economic growth stops due to the fact the energy use can no longer increase the bubble pops. Everyone wants to bring home their “profit” and so, when it turns out that there just isn’t that much money, everyone gets frightened and panic spreads through the whole economy.

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