How Falling Energy Supplies Are Undermining Government Promises
The world is filled with financial promises, including loans, pensions, and even the market value of stocks. So far, the system seems to be working, but in a finite world, it is hard to believe that the system will work indefinitely. Governments can create money simply by adding more promises, but they cannot create goods and services in a similar fashion. We know that actual physical materials are needed to make the goods and services that people depend upon. Energy supplies are particularly important in making goods and services because,…