John Michael Greer's presentation was entitled "The End of Investments". This is a topic that he has covered in one of his Archdruid Reports. Looking back at history, especially the decline of the Roman Empire, he predicts that the concept of investments will not be one that long survives in the world of long decline. Going beyond the concept that what we call economic growth will not be possible in a post peak world, so that much of we consider wealth will turn out be illusions, there is also possibility that the nice yellowish metal that is so popular right now ($1329.60/oz right now!) may not turn out be as useful as one may think. A pile of loot attracts looters as he put it. A historical example is the stockpiles of Roman gold coins that are found on a regular basis in England. Nearby is almost always the ruin of a post-Roman villa that was certainly sacked in search of those coins. Investment in things that can't be looted or are not so alluring like tools, friendships and ties to one's community might be a better bet.
Leave it to the Archdruid to propose an idea that makes even hard-core Peak Oilers uncomfortable. Later in the day I was speaking to a financial blogger who has done wonderful work on the implications of peak oil. I asked him what he thought of Greer's talk. There was an awkward silence. Then he asked "What do you think...?"
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