growth economics

To keep up with global food demand, the UN estimates, six million ha of new farmland will be needed every year. Instead, 12 million ha are lost every year through soil degradation. Australia lost 36 million ha of agricultural land in just the four years from 2005 till 2009. Some of this lost land has occurred because of urban sprawl which is swallowing up some of our best soils close to cities that used to supply the fresh fruit and vegetables. A scathing report by the Royal Commission has gone as far to accuse the Murray-Darling Basin Authority (MDBA) of negligence and being "incapable of acting lawfully," apparently because they overestimated the amount of water returned to the river by a factor of ten.

Australia may have the world’s highest debt to GDP ratio. We have the lowest ranking in the region (61st) for income security. Our social expenditure is behind Greece, Portugal, Spain and Italy's. The OECD has ranked Australia second last in government funding of public education.

"Australia's GDP per capita went backwards in the June quarter, sliding by 0.2 per cent. Reports that it increased depend on the use of "population creep". GDP increased by 0.2 per cent, but that was only due to population growth, and GDP per capita, which is a far more accurate guide to living standards than GDP, declined.

Not surprisingly, then, real net national disposable income per head, which is the best measure of living standards, slid by 1.2 per cent in the three months to June. The Fairfax economist Peter Martin says this is the fifth consecutive slide in real net disposable income per head, which is now 5 per cent below its peak in 2011." (The Hon. Kelvin Thomson, Federal Member for Wills, 3rd September 2015).

Bill Gross, Nouriel Roubini, Laurence Kotlikoff, Steve Keen, Michel Chossudovsky, the Wall Street Journal and many others say that our entire economy is a Ponzi scheme.

In the US Presidential race, both roads lead to financial collapse, resource depletion, war, irreversible climate change, species extinction, chaos, despair and hopelessness.

Australia and Canada are in a race to the bottom to dig up all their minerals. They are importing workers and failing to train their own. Their politicians are caught up in the myth of sustainable economic growth. "The tar sands are the engine of that growth. And we'll want top dollar for what we export because the thirst for tax revenue is insatiable. We'll want the Americans to compete with the Chinese for the privilege of burning our bounty of black death. No wonder then that the support for continued mass immigration is bipartisan. We are in a big hurry to get that resource out of the ground and get it shipped out ASAP---so we bringing in migrant labour like mad to satisfy a "shortage" in skilled labour that we assume to exist because we have never conducted a proper inventory nor seriously tried to train our own people."

"Every time I hear or read the word 'sustainable', for instance, in 'sustainable growth', 'sustainable living' and 'sustainable economy', I feel that we are being cheated and lured into false security." Article by Hans Brunner

Click image for filmThis film reports on a steep decline in land and housing prices in the US and predicts that they will fall further - by 70 or 80%. It says that if you are investing in a house or simply buying one now, you are going to lose the house because it will lose speculative value. It says that Americans with common sense are simply staying away from buying houses, knowing that they can bring the market to its senses this way. It says that the winners in this will be those who need houses and will soon be able to afford them. The losers - the land speculators; the people who have made money idly out of homelessness; the bankers, the middleclass housing investment wannabes - will lose their money. About time.

Report on the Federation Square (Victoria, Australia) Population Forum on 23 April 2010, where Mark O'Connor debated Marcus Spiller.

Click image for film. This is a short film that all politicians and economists and most religious people should see. It is about economics and exponential growth. It is funny and really short.