Another day, another krona

The market opened today finally in Reykjavik and it was a road runner moment….down 77%. In the Hekla auto showroom, the nation’s largest, not a car to be seen. The Central Bank lowered interest rates, it’s so called policy rate from 15.5 to 12%. That should give a boost to the currency which still isn’tContinue reading “Another day, another krona”

Peak Oil and M King Hubbert

The concept of Peak Oil is one of the core subjects of this blog and it is high time to introduce the Father of Peak oil to my reader(s) along with a simplified curve of domestic oil production. World oil production curves are widely available from the internet although they are often laden with dataContinue reading “Peak Oil and M King Hubbert”

The calm before the storm

I am a volunteer weather observer for the cocorahs network. We picked up 6.5″ here last night and the highest total amount our local Wyoming stations seems to be 15″ in Thermopolis and Absarokee. Billings MT had 22″. Still snowing with a winter storm warning still in effect. I thought the image of a guillotineContinue reading “The calm before the storm”

Meet Professor Daly

Professor Herman Daly is a well known economist who wrote a recent post on theoildrum.com dealing with among other things steady state economics, a concept of real wealth and the unfolding disaster in our financial system. He is a former senior economist at the World Bank and he wrote a seminal book on the emergingContinue reading “Meet Professor Daly”

Depression thoughts

Today a veritable mushroom field has sprung up using the debt to GDP figures I noticed several weeks ago that compelled yesterdays post. There is a an excellent article by James Quinn on the seekingalpha investment website which lays it out far better than I did and he gives detailed historical perspective to the problemContinue reading “Depression thoughts”