Michael Laws Sunday Star Times

I must have been 8. Or 9. I used to save up and get the Tintin books from Terry’s Bookstore. Go down on a Friday night (late night shopping and pre-bogan) with a roll of saved cash.

The relevant one to Michael Laws’ drivellous diatribe this Sunday, was “Tintin and the Shooting Star”. In it, a meteorite is speeding towards Earth, and Tintin’s mate at the observatory, Professor Phostle, has just determined the time of impact. Assuring Tintin that all humanity will be wiped out, he goes on “tomorrow I will be famous”.

Even an 8 or 9-year-old gets it. Tomorrow he won’t exist. It’s not rocket science.

Laws suggest we mine the X billions of worth of minerals under schedule 4. Actually, it doesn’t matter to that kind of mind where it is. Te point is this:

All wealth has one purpose – to be exchanged for goods. Outside of grown items (food, trees), almost all goods originate from mining. Finite resource mining. Meaning there’s an upper limit to wealth. And, more importantly, a point where it can’t buy anything, and therefore is worth less, then worthless.

Energy is probably the key mined substance – you can’t do anything to the rest without it.

Be that as it may, beyond peak extraction rates (roughly the point where half the resources are gone) the fiscal system can’t both grow, and cover its maintenance tail at the same time.

At the end of the extraction process (and remember ‘doubling time’ – last doubling is from 50% depletion to finished) there is nothing to buy. What are your billions worth, Michael ?

Stay with talk-back radio. The audience is on your wavelength. The adult result of Tolley’s long tail.


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