Mother Lode residents got a crash course in preparing for a world economy that will work very differently in the near future.
More that 200 people filled the Telele Lodge at Black Oak School in Twain Harte on Friday to hear a presentation from noted scientist and economic guru Chris Martenson. The two-hour town hall style presentation focused on ideas contained in his "Crash Course" video series and his 317-page book.
The next 20 years will look drastically different from the past 20, he
said, based primarily on changes to what he called "the three-Es,"
which are the economy, energy and the environment.
Martenson, 49, said the exponential growth the world economy has
come to expect in the past several decades cannot be sustained. He said
America's debt has doubled five times in the past four decades, and
that it is already impossible for the U.S. to get out from under its
He said the recent economic woes have already disproved long-held
beliefs about real estate as a rock-solid investment that never loses
With a series of graphs and a PowerPoint presentation, Martenson
predicted the next several years will hold several challenges for
future generations. Rising populations and diminishing oil well
discoveries will lead to food and fuel shortages. The international
financial system will falter as banks and governments become unable to
repay debt obligations, he said.
"Your ability to insulate yourselves from that is under your control, and it's not that hard," he told the crowd.
The event was organized by local businessmen Cooper Kessel and Bob
Gelman. Some who attended the meeting were eager to hear advice to
prepare for the changing economy.
"Some of us are scared to death," said Matt de La Motte, of
Tuolumne, during a question-and-answer portion of the meeting. "Where
do you turn right now?"
Martenson said that he bought gold prior to the recession that
began in earnest in 2008, but now he is investing in timber land and
reducing energy consumption in his personal life. He said the key to
maintaining a healthy local economy is to spend money locally.
Martenson's resume includes a Ph.D in neurotoxicology from Duke
University and an MBA in finance from Cornell University. He left a
lucrative career with the Pfizer drug company to develop a series of
videos called the "crash course," which outlines Martenson's theories
about the future of the world economy.
It wasn't the first time Martenson has visited the Mother Lode. In
January 2010 he spoke to a packed house at the Sonora Opera Hall.
"When I was here two years ago, many of the things we talked about are happening," he said. "The game is afoot."
Martenson said the rising use of food stamps, stagnant job growth
in the face of government stimulus and riots in Greece can all be
explained by the way the modern economy attaches exponential growth to
"Nothing is working quite right anymore," he said. "It's simply
because our credit system of needing exponential credit growth year
after year, decade after decade has stopped functioning."
He said that the Occupy Wall Street protests are a response to the
feeling that many people have that the current U.S. economic system
just doesn't make sense.
Columbia resident Cris Barsanti showed up to the town hall-style
meeting on Friday after seeing Martenson's presentation in person two
"It makes sense to me what he's saying," she said. "It's just unsustainable the way we are living."