Welcome.
My name is Chris Martenson. I'm not an economist. I'm a trained research scientist, and a former Fortune 300 VP. Most importantly, though, I'm a concerned citizen.
I think the next twenty years are going to look very different from the last twenty years. This site is my attempt to explain why.
You should start with the Crash Course. This series of videos is, I think, the clearest and most straightforward explanation of how our economy, energy systems and environment interact -- how we got to where we are today, and some reasonable expectations for the future.
Thanks for visiting my site, and hope to see you back here often.
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Getting the Story Right
Now that I have returned from my UK trip, where I had the opportunity to present the main story of the Crash Course at the Parliament, at the London School of Economics, and to councillors and members of the Scottish Parliament, I've come away with an even stronger sense of the true dimensions of our predicament and what must be done.
We desperately need to start telling ourselves a new story, one that at least fits the known data, and we need to be far more urgent in our preparations for a future that is now upon us. This is not a US or a UK story, but one that applies equally to us all, no matter where we live. It is a global story.
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Daily Digest - March 10
- New Jersey’s Christie Says Layoffs Out for Cutting Budget
- Bill to Extend Jobless Benefits Clears Senate Procedural Hurdle
- Buy Gold While Supplies Last, Says Fund Manager
- Judge denies payment to Prichard pensioners; 'People are not going to like it,' lawyer for city says
- Bowles Says Deficits Will Make U.S. ‘Second-Rate’
- Treasuries, sovereign debt "dangerous": Fuss
- Astorino spending cuts: Lay off up to 1,600, close Croton pool, cut NYC buses, delay Playland opening
- Michigan Lost 80,000 Manufacturing Jobs Over Past Year
- Sen. Joan Bray on budget: “We’re in a very deep hole”
- Fitch Warns Default in Euro Zone Is Possible
- Massachusetts Senate Seeking Stronger Oversight As It Considers Lawrence Bailout
- Cash-Strapped Los Angeles Wary of Scaring Off Business
- Public Pension Funds Are Adding Risk to Raise Returns
- Many retired government employees will see smaller pension checks
- New York State Debt In Red Zone, Should Cut $20 Billion: Study
- Lists for retired workers receiving more than $100,000 from CalPers/CalStrs
- U.S. Sitting on Mother Lode of Rare Tech-Crucial Minerals
- saxplayer00o1's blog
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Pumps On Full
I am truly amazed at what I am seeing out there in the markets these days. I also understand and share the frustration of the many analysts who know what "should" be happening but is not.
What should be happening is massive, self-reinforcing deflation caused by debt destruction and resulting from the housing bust and retreat of consumer borrowing.
These are harrowing figures: read more »
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Nowhere To Run - A Monetary Crisis 
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Saturday, March 6, 2010
Executive Summary
- Nations around the world are insolvent and on their way to bankruptcy, a fiscal crisis, a currency crisis, or all three.
- World markets are currently interlocked to a troubling degree.
- A falling currency is always a cross-border event.
- The German DAX, the Dow Jones, and the FTSE 100 charts are nearly indistinguishable.
- A bigger trigger than Greece will be needed to set off the next round of global trouble.
- The UK is a highly qualified candidate for that role; Japan is also a likely possibility.
- Expect the unexpected. The future is going to change suddenly and rapidly.
A significant issue facing all of us concerns the idea of a large decline in the value of our home currency, whatever currency that may be. History is full of examples of currencies suddenly, and sometimes permanently, losing value. Certainly, there is no greater financially traumatic event than having all of your perceived wealth evaporate like water on hot steel simply because your currency fails.
Once upon a time, evaluating the relative risks of various currencies was pretty straightforward, as they were independently run and market forces gave pretty clear signals. Today, the major currencies are hopelessly intertwined, manipulated by central banks, and are therefore providing relatively poor information to market participants.
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FDIC Is Broke - Now What?
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Sunday, August 16, 2009
Executive Summary
- With the most recent bank failures, the FDIC is out of funds.
- The FDIC is levying a one-time fee on member banks to cover the shortfall, but it will not be enough and it punishes the prudent.
- The FDIC has been suspiciously slow at shutting down banks that have admittedly already failed.
- Banks have been allowed to overestimate the actual worth of their assets using "mark-to-fantasy" accounting.
- Hundreds of banks are likely already mortally wounded and set to fail.
- The FDIC means well, but creates a moral hazard the effects of which now haunt us.
- Take prudent action: Choose only high-rated banks, and keep cash out of the bank.
Five more banks failed this week, resulting in a long weekend for the FDIC (see below). The largest of these, by far, was Colonial Bank, which will cost the FDIC some $2.8 billion. And that's assuming that their loss estimates pan out as expected and that the $15 billion in shaky assets on which the FDIC will share future losses do not turn into larger-than-expected losses.
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Economy & Energy - At the UK Parliament
Duration: 01:26:10 — File Size: 82.73 MB
Audio of Chris' presentation to the UK All Parliamentary Party Group On Peak Oil plus Q&A afterwards. read more »- 660 reads


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