subprime

The Crash, Peak Oil and Resilient Cities

By Peter Newman / On December 9th, 2008

How did the crash happen? Over-inflating the economic balloon with debt that was vulnerable to rises in oil price. What do we do about it? Use non-oil-based projects and approaches to generate economic growth or else we are going to make things worse. In detail.... Peak oil theorists have been squabbling about when the geological peak will happen but in economic terms it happened in 2005 when the production of conventional oil (cheap oil which can be produced under about $65/bbl) peaked.

Sprawl is the Root Cause of the Financial Crisis

By [node:field_contributor] / On September 22nd, 2008

Ask most people about the causes of the current financial meltdown and the proposed massive Federal bailout and it comes down to two factors. First, sub-prime mortgages were made to households unable to pay for them when rates readjusted upward. Second, these mortgages were subdivided, given dubious credit ratings, and dumped on unsuspecting investors. The beauty of this explanation is there is a beginning, middle (where we supposedly are now) and end-when the sub-primes have all readjusted. It portrays the crisis as a cyclical downturn; more brutal than most but ending in 2-3 years. Unfo

The next shoe to fall

By [node:field_contributor] / On August 5th, 2008

Much pain has been experienced in the American and world economy due to the collapse of sub-prime mortgages.