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October 13, 2008 3:15 PM

Where’s the real money?

By David Suzuki

The Doc photoLess than a day to go to the election and, as I feared, the environment has disappeared from election discourse. All the leaders are scrambling to respond to a tanking global economy. But who has considered this crisis to ask some really important questions like how did politicians sell us out to forces of the global economy that are out of our control? I was astounded at the panic in the U.S. government that led that it to pass, in a matter of days, a bill committing $700 BILLION to banks that merrily made oodles of money in a phoney scheme that was built on nothing. It looks as though even 700-billion big ones will not be enough to pull us out of a severe recession, if not a full-blown depression. I’m already in full-blown depression about where we are heading.

Former U.S. vice-president and Nobel Prize winner Al Gore is always saying that the Chinese character for crisis is made up of two parts. One part is “danger” and the other is “opportunity”, and I couldn’t agree more. Surely in a time of great crisis – and the economy and energy situation are crises – we should be asking some profound questions like, “How did we get into this mess?”, “What are our options for a sustainable future?” and “How much is enough?” It doesn’t make sense to simply shovel more money into a system that is so clearly defective.

The term sustainability has become so overused that it’s almost lost its meaning. It means living within the productive capacity of the biosphere without compromising its availability for our children and all future generations. So let’s think about energy. Fossil and nuclear fuels are non-renewable, meaning they will run out, so no society can think in terms of genuine sustainability if it is based on these fuels. Add to that the fact that nuclear and fossil fuels aren’t evenly distributed and often tend to be concentrated in geopolitically volatile regions, and that only creates more problems. On top of that, using fossil and nuclear fuels generates huge problems of global warming and radioactive waste that our children and grandchildren will have to live with.

And when you reflect on the explosive rise in prices for both fossil and nuclear fuels, you have to realize it just doesn’t make any sense to build a future around them. The sun radiates massive amounts of clean energy, every day, on almost all parts of the Earth. Plants use sunlight and carbon dioxide in photosynthesis to provide all the energy we have in our bodies, and still there’s lots of sunlight left over to power our electrical grids. The sun creates tides and the sunlight interacting with the planet generates wind that we can use.

A real sustainable energy future must be based on the sun’s beneficence. At this moment, rather than trying to extract every last drop of oil and gas from increasingly remote, hostile places or low-grade ecologically expensive sources like tar sands and oil shale, or commencing a program of nuclear energy that will be incredibly expensive and take years to get up and running, why not put a fraction of what is being spent on Iraq or banks into windmills and solar panels that will immediately start to put energy on the grid? It will create huge numbers of sustainable jobs.

We are at the very beginning of a revolution in renewable energy, and I believe huge breakthroughs will come from investing in more research and development. The energy crisis is a huge opportunity to focus on sustainability and the potential for clean energy and lots of jobs.

Posted by elijah v at October 13, 2008 3:15 PM
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DAVID GREMILLION
MR. SUZUKI,

YOU ASK " WHY NOT PUT A FRACTION

ON WHAT IS BEING SPENT ON IRAQ...

ETC.? "

WELL, I HOPE THE ANSWER IS OBVIOUS

AS IT IS ' SIMPLE '

OBVIOUSLY, THERE IS A HUGE SHORTAGE OF WISDOM AND UNDERSTANDING ON THE PART OF MOST ALL OF US AS HUMANITY. THAT AND THE I DON'T GIVE A DAMN ATTITUDE INSTALLED UPON THE AVERAGE PERSON BY THE GREED, INSOLENCE AND INSANITY OF OUR SUPPOSEDLY ' TRUSTED' LEADERS. SURELY, WERE WE ALL TO PULL THE PROVERBIAL ROPE IN THE SAME DIRECTION, AT THE SAME TIME IN A CONCERTED EFFORT, NO ONE WOULD BELIEVE JUST HOW FAR WE COULD GO AND HOW FAST WE COULD GET THERE.

ADDITIONALLY, I GREATLY APPRECIATE AND APPLAUD YOUR KNOWLEDGE OF CURRENT EVENTS AND STATUS IN THIS AILING WORLD OF OURS. I AM DEEPLY MOOVED TO KNOW THAT I DO NOT STAND ALONE IN MY DEEP CONCERN FOR THE FUTURE OF MANKIND, AND EVERYTHING IN OUR PATH.

MOST SINCERELY,

DAVID C. GREMILLION

Steven Earl Salmony
Please consider that which could be a product of arrogance and also shameful behavior.

Our lexicon of business activities is being expanded daily, thanks to the "wonder boys" on Wall Street. We are learning about derivatives, collateralized debt obligations, credit default swaps, recapitalization, puts, short selling and so on. We are gaining a new vocabulary from the recent meltdown of the financial system and expected slowdown of the real economy worldwide.

Where did this debacle begin? Well, it began in the center of human communitys banking and investment houses in the financial district of NYC. Supposedly, the "brightest and best" among us go to Wall Street, know what they are doing and do the right thing. Unfortunately, such assumptions turn out to be colossal mistakes.

How did this calamity occur and why is the human family in such dire economic straits? It appears that grotesque greed and a culture of corruption have come to dominate significant operating systems of the global political economy.

Powerful people in high offices within huge business institutions with access to great wealth are recklessly and deleteriously manipulating the unbridled expansion of the global economy in the small, finite planetary home God blesses us to inhabit.

Self-proclaimed Masters of the Universe have surreptitiously "manufactured" a sub prime "asset bubble" and perversely fostered its uneconomic growth within the world economy. Not unexpectedly, this asset bubble did what bubbles do. The sub prime bubble burst and made a mess. Global credit markets have frozen, stock prices are tumbling and the value of the dollar is gyrating.

Evidently organizers, managers and whiz kids overseeing the global economy, and the unraveling {ie, deleveraging} of the worldwide sub prime swindle, are running the artificially designed financial system of the global economy as a pyramid scheme. This is to say that the international financial system is being operated so that most of the wealth funneled pyramidally into the