Politics is the art of looking for trouble, finding it everywhere, diagnosing it incorrectly, and applying the wrong remedies.
Professor Roubini says that even at the low end of the estimates the potential impact on the rest of the economy is massive. “If you have a $200bn loss, that reduced your capital by $200bn, you have to reduce your lending by 10 times as much,” he explains. “So you could have a reduction of total credit to the economy of two trillion dollars”. The professor predicts that a reduction of credit on that scale will trigger a recession in America which could become global as the contagion spreads through the banking system worldwide.
SO THERE you are on the moon, reading The World in 2008 on disposable digital paper and waiting for the videophone to ring. But no rush, because you’re going to live for ever—and if you don’t, there’s a backed-up copy of your brain for downloading to your clone.
The future of futurology
* The SkyMine™ process turns gaseous CO2 emissions into solid, stable carbonates (primarily sodium bicarbonate).
* The SkyMine™ technology does this with a competitively low energy penalty.
* The SkyMine™ process also removes mercury and heavy metals, as well as acid-rain gasses from the flue stream.
* The SkyMine™ technology produces clean (non-methane-based) hydrogen and low-energy chlorine. A SkyMine™ plant can be operated at a profit, because the hydrogen produced (as well as the chlorine and bicarbonates) have commercial value. (via Skyonic Corporation)
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