“It’s important to recognize that net zero demands a transformation of the entire economy.” – Larry Fink We are on the cusp of a significant mass starvation event of our own making. Soon, tens of millions of the world’s most impoverished people will die from an inability to feed themselves, while many of those comfortably getting by now – especially in the Western World – are in for a shock.
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Fantastic news for regenerative agriculture! Farmers will no longer be able to afford to just throw fertilizer on to promote growth. Excuse me, I'm off to make some more compost!
Larry Fink sold out to the Chinese Communist Party a long time ago.
Great article. Classic example how power can supersede rational thought. Larry fink has little understanding of energy and it's positive and complex connections to the economy. However, he sits high and mighty on his financial throne forcing his ideology on corporations. It's perplexing how society puts more trust in this man or Tech CEO than energy companies who know far more about energy. Society has been brainwashed to believe O&G industry is part of the Dark Side, mainly because they take for granted the O&G blessings they have in their lives.
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Landmark 1955 Czechoslovakian Tubercular Nutritional Study.
Thank you for providing this insight. It's good to have another source where I know who the publishers are by name and that you don't manipulate that information before writing about it.
After reading this excellent piece and then listening to Grant Williams and Louis Gave, I have a whole new appreciation for the dynamics of China vs. the rest of the world. NG will be a major economic driver in the next 10 years, both as a means of food, heat, and energy. If Russia is successful in opening NS2 direct to China, they will have Europe by their short hairs (unpleasant). If Louis is correct, and his thesis seems very logical, we are headed for inflation for the foreseeable future in all things. China is purposefully contracting and cutting production, thus deflation will soon be an archived decade for the history books. Onshoring will take time and messy corrupt politics, with massive tax incentives provided by the countries taxpayers. Food may well be the new international battleground, with poor energy policies, aka Green Movement, affecting the poor in a profound manner, not seen since the Great Depression. 13 meals is all it takes to start a revolt. Fortunately for the US, we are fairly insulated when it comes to self sustaining food chains. But, what happens when China needs to find more food to feed their population? Will they be forced to go after other territories that can grow food? What happens in Europe when NG becomes unaffordable to the masses, or unavailable to the masses? Messy times ahead and I thank the Chicken for his (their) wonderful insights and forewarnings on wicked things headed our way.
how about this - maybe our problem is energy policy, but it is being exacerbated, wildly, by levered Hedge Funds, who jump on price trends and ramp them to their illogical conclusion ?? Just look at UK nat gas recently, doubling then halving in a week. Real supply demand would have kept prices high, regardless of "talk" of more nat gas from Putin. It didn't. Then look at Lumber prices, which ramped 300% then collapsed just as quickly. That's not contractors buying wood at Home Depot - that's quant funds destroying the economy . . .
I heard Louis Gave say inflation with a rising currency is "okay" as price rises for imports are kept in check by the stronger RMB (nudge-nudge). So, with the EURO weakening and inflation rising, the Europeans are in for a double-shock!
No. Fink is only a figurehead because he is not Old Money. He's taking bossing from some Episcopalian since they hold a stranglehold on Wall Street going back into the 1600s when they were known as Anglican Church of England, and altered to Episcopalian in the 1770s to take less heat as Royal family loyalists. At Wall Street Trinity Church he could be a shoe shine boy. See the accounts of Episcopalian William Renchard of Chemical Bank beating up Saul Steinberg---and Episcopalian James B. Haggin punching out the Rothschilds a half dozen times while he tap danced all over them and defeated their Copper Trust in the Paris courts!
Time to invest in regenerative agriculture where nitrogen is fixed from the air and phosphate is brought up from deep underground by certain plant roots. Check out Gabe Browns ranch in SD.
Just joined doomberg. Great ideas and articles. Even could get some investment or speculating bits.
Crazy stuff, but Not unforeseen. That's for the tips.
My fertilizer stocks have been ripping. Thanks for telling me why. Larry Fink has also been advising to triple your investment allocation in China. "Food" for thought.
Have you given much thought to how fragile we are in comparison to China on some of these things? To my knowledge they not only keep the price controls and control import/export, but also have state stocks piles of some of these essentials.
How crazy is it that we're poking a Panda who is sitting on more of what it needs to live than we do, and is likely better at hacking all of our "user friendly" systems to crash them at will? I'm not saying that China could survive a crash on it's own, or wants to do that, but if we keep poking them.... Well, we already had hackers shut down pipe lines and food processing plants once... What happens the second time? The third? If China is doing poorly, but better than the rest of the world and is able to point at a war, will that give it some leeway to manage its on social crisis in such a situation?
What happens when our corporations are able to make more money selling the food, fertilizer, etc out of country? Does the state seize them? Does the state print money to buy them with inflated dollars? Or do we watch society unravel while following a trail of bread crumbs to what kind of lovely cake our betters have prepared for us?