The nonsense that is UBI

glad somebody else has figured out that UBI is nonsense…though the article above maybe doesn’t get to the real reason for that.

We live in an energy based economy, we do not live in a money economy. All money within an economic environment has to be backed up by energy to underpin its actual worth.

Our energy base is effectively fossil fuel — -oil coal and gas. We have no other way of sustaining our civilised existence. Those energy resources are finite, and in terminal decline.

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We have only one “Universal basic income” and that’s oil. And as the chart above clearly shows it is in terminal decline.

Therefore the real value of money is in terminal decline. UBI will require the endless printing of money without value — in other words runaway hyper-inflation. Printing money and handing it out will not replace oil and replenish our energy supplies. UBI can never be anything more than infinite debt creation, with a non existent future used as collateral.

Expecting robots to do all our work will be self defeating, because robots consume (ebergy) they cannot engage in commercial activity. They cannot buy the ‘’stuff’’ they produce.

Robots must automate themselves out of existence

co-author of The End of More, in paperback and kindle on Amazon http://www.amazon.co.uk/dp/B00D0ADPFY email pagett.communications@blueyonder.co.uk

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