economic edge

Paul Sankey, Deutsche Bank:

“If we stopped producing gold tomorrow, we have 100 years of supply in inventory. If we stopped producing oil tomorrow, we have 55 days in inventory.” [link]

Americans buy ten thousand gallons of gasoline per second.

I suddenly wondered why we assume we can consume the Earth. Whether 55 days or 100 years, both point to finite and irreplaceable resources. We are sloppy, sloppy, sloppy. We can do much better and create a robust economy while doing so.