Aaron Wissner (valuesystem) wrote,
Aaron Wissner

Understanding the Economic Crisis & Deflation - Nicole Foss - Stoneleigh

Nicole M. Foss (a.k.a. Stoneleigh)


The US economy faces a deflation crisis that will fundamentally alter our nation's economic recovery. The Federal Reserve formally acknowledged the growing danger of deflation at their August 10, 2010 Federal Open Market Committee meeting. Local Future has invited economic analyst Nicole M. Foss to tour Michigan to help business leaders, elected officials, and communities understand the crisis that deflation poses to the economy in the years ahead. Foss will tour Michigan from September 10 through September 19. The talks will be free to the public. Business leaders, community leaders, and members of units of governments will especially benefit from Foss's economic insights, but all are welcome. Host cities are currently being determined. To request a location, please contact organizer@localfuture.org.


Nicole M. Foss is co-editor of The Automatic Earth, where she writes under the name Stoneleigh. She and her writing partner have been chronicling and interpreting the on-going credit crunch as the most pressing aspect of our current multi-faceted predicament. The site integrates finance, energy, environment, psychology, population and real politik in order to explain why we find ourselves in a state of crisis and what we can do about it. Prior to the establishment of TAE, she was editor of The Oil Drum Canada, where she wrote on peak oil and finance.

Foss runs the Agri-Energy Producers' Association of Ontario, where she has focused on farm-based biogas projects and grid connections for renewable energy. While living in the UK she was a Research Fellow at the Oxford Institute for Energy Studies, where she specialized in nuclear safety in Eastern Europe and the Former Soviet Union, and conducted research into electricity policy at the EU level.

Her academic qualifications include a BSc in biology from Carleton University in Canada (where she focused primarily on neuroscience and psychology), a post-graduate diploma in air and water pollution control, an LLM in international law in development from the University of Warwick in the UK. She was granted the University Medal for the top science graduate in 1988 and the law school prize for the top law school graduate in 1997.

The Talk

Resource limits (peak oil) and the collapse of global Ponzi finance are a “perfect storm” of converging phenomena that threaten to trigger wealth destruction, social discontent, and global conflict. The consequences for unprepared individuals and families could be dire.

So believes Nicole M. Foss, an energy industry consultant and financial analyst from Ontario, Canada, who will be presenting “Understanding Deflation & The Financial Crisis" on a tour of Michigan in September.

In addition to her work in the energy industry, Foss writes under the name “Stoneleigh” at the website The Automatic Earth (www.theautomaticearth.blogspot.com). She plans to discuss the many converging factors that are contributing to the predicament we face today, and how individuals can build a “lifeboat” to cope with the difficult years ahead.

At her presentation, Foss will describe how our current financial system is an unsustainable credit bubble grounded in “Ponzi dynamics,” or the logic of the pyramid scheme. She warns that most people are woefully unprepared to face the consequences of the devastating deflation that is now unfolding.

What makes this crisis different from past financial calamities?

Foss will argue that this one has developed in the context of the fossil fuel age, which will prove to be a relatively brief period of human history. We have already seen oil reach a global production peak, and other fossil fuels are not far behind, she says. While there is still plenty of fossil fuel in the ground, production will fall, meaning that there will be less and less energy available to power the economy at prices we can afford to pay.

Societies have gone through boom and bust cycles before — for example, Tulip Mania, the South Sea Bubble and the “Real” Great Depression of the 1870s — but most people in the Western world today will face this crisis without the knowledge or means to provide the basics of their own survival. Our industrial system has nearly destroyed the individual capacity for self-reliance.

Foss will argue that individuals and communities that take steps now to prepare stand a much better chance to thrive in a changing world.

"Nicole Foss, writes a finance blog with a difference; instead of saying how to make money, it tells ordinary people how to avoid losing it," says Warwick University.

More Information

For links, articles, and audio MP3 recordings, visit:

Nicole Foss (Stoneleigh) North American Speaking Tour on Deflation Risks and Severity at Local Future
Tags: collapse, credit, crisis, debt, deflation, economics, economy, energy, fed, federal, finance, hyperinflation, inflation, insolvent, monetary, money, oil, peak, peakoil, reform, reserve, supply

  • What is money?

    If you are looking for a better answer to the question, "What is money?", then you've come to the right place. Rather than explaining what others…

  • APSO USA 2011 - My Top Ten Take Aways

    Top Best Things from My ASPO USA 2011 Participation Talking with Dr. William (Bill) Catton, author of the books Overshoot and Bottleneck, who…

  • What is going on with the economy?

    The trick to understanding the economy is visualizing how the money flows in the economy. You can divide the people any way you like, but I tend to…

  • Post a new comment


    default userpic

    Your reply will be screened

    Your IP address will be recorded 

    When you submit the form an invisible reCAPTCHA check will be performed.
    You must follow the Privacy Policy and Google Terms of use.