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<div><font face="Geneva">"Policy and thinking must adapt to this
reality. Start now."</font></div>
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<div><font face="Geneva">Financial Times October 13, 2015 4:40
pm</font><br>
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<div><font face="Geneva"><b>Solid growth is harder than blowing
bubbles</b></font></div>
<div><font face="Geneva">Martin Wolf</font><br>
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<div><font face="Geneva"><b>Opening paragraph:</b></font><font
face="Arial"><br>
</font><font face="Geneva">"It used to be said that when the US
sneezed, the world economy caught a cold. This is still true. But now
the world economy also catches a cold when China sneezes. It has lost
its last significant credit-fuelled engine of demand. The result is
almost certain to be a further boost to the global "savings glut"
or, as Lawrence Summers calls it, 'secular stagnation' - the tendency
for demand to be weak relative to potential supply. This has big
implications for global economic risks."</font><br>
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<div><font face="Geneva"><b>Closing paragraph:</b></font></div>
<div><font face="Geneva">"The world has run out of large
economies ready and willing to let lending and spending rip. This
means that global demand may be still more feeble in the next few
years. Policy and thinking must adapt to this reality. Start
now."</font></div>
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<div><font face="Arial" size="-1" color="#000000">High quality global
journalism requires investment. Please share this article with others
using the link below, do not cut & paste the article.</font><font
face="Arial" size="-1" color="#0040C2"><u>
http://www.ft.com/cms/s/0/9bba6228-70d1-11e5-9b9e-690fdae72044.html#i</u
></font><font face="Arial" size="-1"
color="#001876">xzz3oUsOV0mh</font></div>
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<div><font face="Geneva" size="-1" color="#000000">"We have only one
planet and the time has come to transform our present lifestyle and
consumption patterns in order to halt the degradation of the Earth's
natural capital ..."<br>
<br>
From the Executive Summary, WWF: <i> China Ecological Footprint:
Report 2012 : Consumption, production, and
sustainability.</i></font></div>
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</font><font face="Geneva" size="-1" color="#000000">"Š energy
consumption in 1960 was about half what it is now [i.e., 1970] Š.
Surely we had a civilized country then, with roads, electricity,
entertainment, and so on. Š. Have we, by doubling our energy
consumption, doubled our happiness?"<br>
<br>
Kimon Valaskakis, Peter S. Sindell, J. Graham Smith, and Iris
Fitzpatrick-Martin.<i> The Conserver Society.</i> 1970. Harper &
Row.</font></div>
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<div><font face="Verdana" size="-1" color="#000000">"The most
painful and expensive way to deal with global climate change will be
to ignore it until something happens that elicits powerful public
demands for immediate and Draconian action."<br>
<br>
Jonathan Lash. "As the earth heats up. " <i> Journal of
Commerce</i> August 16, 1996.</font><br>
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