Monday, February 28, 2011
News Links, March 1, 2011
## Global economic meltdown ##
Economists list U.S. budget deficit as No. 1 worry
Economists list U.S. budget deficit as No. 1 worry
"The government of beleaguered Prime Minister Naoto Kan could face a fiscal crunch in July or later if opposition parties continue to block measures such as a bond issuance to cover the budget deficit."
## Libya ##
Libya, NATO's fresh prey (Tehran Times)
US prepares for military intervention in Libya (Dong-A Ilbo)
"Muammar Gaddafi is running out of options and friends as international action to pressure him into surrendering gathers momentum, withRussia and China joining the west in backing calls to prosecute him for war crimes."
## Fault lines/flashpoints/military ##
Police: 52 remain in custody after anti-government clashes in Croatia
Oil price rises again on Saudi Arabia unrest fears, Brent hits $114
Oil price rises again on Saudi Arabia unrest fears, Brent hits $114
"Meanwhile a Facebook site calling for a "day of rage" in Saudi Arabia on 11 March has seen its number of subscribers increase from 400 to 12,000 in recent days."
"Activists have set up Facebook pages calling for protests on March 11 and 20, with over 17,000 supporters combined, but police managed to stymie two attempts to stage protests in the Red Sea city of Jeddah last month."
"Saudi King Abdullah chaired the first cabinet meeting on Monday after returning home from three months abroad for health treatment, with no signs of any government reshuffle or reforms demanded by activists."
"Hundreds of protesters blocked the entrance to the industrial area of the northern coastal town of Sohar, which includes a port, refinery and aluminum factory. They pushed back four army vehicles that had been observing the scene."
## Energy/resources ##
Instead of the North developing and catching up to the South, the decline of industrial civilization will bring the South down to the North's level. -- RF
Did Saudi Arabia really raise its oil production? (Foreign Policy)
"The only thing that would change McCaughan's opinion is if Saudi Arabia has unrest. 'I think that is very unlikely. The king is popular in Saudi Arabia. He's just unveiled a stimulus package of social measures of $36 billion.'"
## Got food? ##
The price of food is at the heart of this wave of revolutions
No Inflation? That's Not What Food Prices Are Saying
No Inflation? That's Not What Food Prices Are Saying
More tiny dolphins wash ashore in Mississippi and Alabama
Arctic sea ice extent lowest in recorded history
Arctic sea ice extent lowest in recorded history
## US ##
Police Won't Boot Protesters From Wis. Capitol
Rioting anarchists attack Seattle police, destroy property
Police Won't Boot Protesters From Wis. Capitol
Rioting anarchists attack Seattle police, destroy property
Sunday, February 27, 2011
News Links, February 28, 2011
## Global economic meltdown ##
Saudi Stocks Drop to Nine-Month Low, Leading Mideast, on Region's Unrest
Mexico Could End Up as a Failed State
Mexico Could End Up as a Failed State
"Money transfers from expats now represent Mexico's no. 2 source of revenue after proceeds from oil exports. Many Mexican households depend on remittances to meet normal living expenses. Unfortunately for Mexico, however, there has been no U.S. economic recovery that has shown up in the external dinero import numbers."
## Libya ##
We must stand ready to intervene in Libya
"Britain and its allies must explore how armed humanitarian intervention could take place in Libya, says Sir Richard Dalton, former British ambassador to Libya."
"Britain and its allies must explore how armed humanitarian intervention could take place in Libya, says Sir Richard Dalton, former British ambassador to Libya."
## Fault lines/flashpoints/military ##
North Korea threatens to fire at South Korea
North Korea threatens to fire at South Korea
## Energy/resources ##
"Under the 'yellow' level, the government will limit power use in public buildings, apartments and shops, while turning off unnecessary lights in streets, according to the statement."
South Korea has become a bellwether showing how the power crisis will unfold as industrial civilization declines. -- RF
Oil price set to double if production is cut off (David Strahan at The Independent)
"Members of the Mindanao bloc in the House of Representatives expressed alarm over the looming power crisis in Mindanao due to the breakdown of some power plant facilities."
Soon, many people will become instant farmers. -- RF
## Environment/health ##
30 people freeze to death in Poland
30 people freeze to death in Poland
## Intelligence/security/internet/systemic breakdown ##
12km Traffic Jam Highlights Woes in Infrastructure (Indonesia)
12km Traffic Jam Highlights Woes in Infrastructure (Indonesia)
"For several days, hundreds of frustrated truck drivers have had to eat and sleep on the road to the port city of Merak, Banten... The damage has been done, though. Perishable goods like fruit and vegetables have rotted. Reports say the prices of chili and tofu in some markets in Lampung have already increased as a result. Some of the drivers reportedly resorted to selling some of their cargo to buy food and drink."
"'We'll never seek economic growth rate and big size at the price of environment,' Mr. Wen told Chinese Internet users in an online chat Sunday in which he disclosed the new target. 'That would result in unsustainable growth featuring industrial overcapacity and intensive resource consumption.'"
They've already got "unsustainable growth featuring industrial overcapacity and intensive resource consumption"! -- RF
## UK ##
Liam Fox: Libya will send strategic shock waves through Arab world
"Dr Liam Fox has pledged to strengthen Britain's Special Forces in response to the turmoil sweeping through the Arab world."
"The epidemic, fuelled by the soaring cost of copper, is only expected to get worse, affecting gas supplies, electricity companies and telecoms cables."
## US ##
Wisconsin National Guard has toured multiple prisons
Governors To Feds: Help Us Avoid Financial Disaster
When Government Debt Gets in the Way of the American Dream
Even if protesters win the battle, they have already lost the war. -- RF
Even if protesters win the battle, they have already lost the war. -- RF
Keep on dreaming! -- RF
Prices are rising with the money supply (on food inflation)
Saturday, February 26, 2011
News Links, February 27, 2011
## Global economic meltdown ##
Ireland's new government on a collision course with EU
Ireland's new government on a collision course with EU
Brazil's problems are presented here as the result of a lack of timely investment, but rising costs for energy and commodities, too many consumers, and accumulating debt are engendering the kind of systemic difficulties cropping up everywhere. -- RF
"'We are still getting orders from abroad - all the factories are,' she said. 'But no one is taking them because we would make a loss. The foreigners do not want to pay a reasonable price. We have not made any profits for two years.'
"According to Indec, consumer prices rose 10.6% in January from a year earlier. But economists say the real inflation rate is likely closer to 25%, or even higher, and that prices may rise even faster this year."
## Libya ##
Nation's food chain at risk of collapse, aid agencies warn
Libya evacuation: China evacuates 12,000 nationals via naval frigate
"'China has suffered large-scale direct economic losses in Libya, including looted work sites, burned and destroyed vehicles and tools, smashed office equipment and stolen cash,' the ministry said in a statement on Thursday."
Libya evacuation: China evacuates 12,000 nationals via naval frigate
"'China has suffered large-scale direct economic losses in Libya, including looted work sites, burned and destroyed vehicles and tools, smashed office equipment and stolen cash,' the ministry said in a statement on Thursday."
'Rebels hold Libyan oilfields'
Rebels are in control of nearly all oilfields east of the Libyan town of Ras Lanuf, with fields and oil terminals still working at 25% capacity, a petroleum engineer who is a member of Benghazi's interim leadership was reported as saying today.
Rebels are in control of nearly all oilfields east of the Libyan town of Ras Lanuf, with fields and oil terminals still working at 25% capacity, a petroleum engineer who is a member of Benghazi's interim leadership was reported as saying today.
"UN High Commissioner for Human Rights Navi Pillay said "thousands" may have been killed or injured by Gaddafi's forces in the uprising, and called for international intervention to protect civilians."
This will no doubt be the last straw. -- RF
## Fault lines/flashpoints/military ##
Attack shuts Iraq's largest oil refinery, kills 1
Attack shuts Iraq's largest oil refinery, kills 1
"Russia vowed Saturday to fulfil its contract to supply Syria with cruise missiles despite the turmoil shaking the Arab world and Israel's furious condemnation of the deal."
Major Yemen tribes join protesters
"Powerful tribal leaders, including those of the Hashid and Baqil, pledge to join protesters against the government."
"Powerful tribal leaders, including those of the Hashid and Baqil, pledge to join protesters against the government."
"Any future defense secretary who advises the president to again send a big American land army into Asia or into the Middle East or Africa should 'have his head examined,' as General [Douglas] MacArthur so delicately put it."
## Energy/resources ##
Angola, Nigeria Can't Immediately Replace Libya Oil - Sources
Mexico to slash oil and gas drilling by 42 pct
"'Oil increasingly comes from unstable parts of the world,' pointed out geopolitical risk expert Ian Bremmer, president of Eurasia Group. 'It's the Persian Gulf, it's West Africa. It's the Caspian. Those are not places we vacation. Those are places over time that are more and more unstable.'"
"On Thursday, Saudi Arabia calmed oil markets by stating that it would increase production to cover shortfalls from unrest in the Middle East. But today, Texas oil magnate T. Boone Pickens told GlobalPost that Saudi Arabia may not have enough capacity to do so... 'I don't think they have the capacity to do 12 million,' Pickens told GlobalPost. 'I'd be surprised if they have the capacity to do 10 million.'"
## Environment/health ##
Infant and stillborn dolphins still washing up along Gulf Coast
Nurse shortage plagues hospitals, home care (Canada)
Infant and stillborn dolphins still washing up along Gulf Coast
Nurse shortage plagues hospitals, home care (Canada)
## UK ##
Searchlight poll finds huge support for far right 'if they gave up violence'
Thousands of soldiers to be trained to run prisons as the Government prepares for strikes
## US ##
A U.S. recovery built on low-paying jobs
Yergin Warns Against Tapping Oil Reserves
Thousands of soldiers to be trained to run prisons as the Government prepares for strikes
## US ##
A U.S. recovery built on low-paying jobs
Yergin Warns Against Tapping Oil Reserves
"Indiana Gov. Mitch Daniels believes he faces a taller challenge as he ponders a White House run: Could voters warm to his message that the country is doomed unless it slashes its debt and radically revamps the popular Social Security and Medicare programs?"
Friday, February 25, 2011
News Links, February 26, 2011
## Global economic meltdown ##
Russia Unexpectedly Raises Main Rates, Reserve Requirements
Russia Unexpectedly Raises Main Rates, Reserve Requirements
A very good read that charts the rapidly approaching global systemic collapse. -- RF
## Libya ##
Libya: Col Gaddafi not 'interested' in ruling country anymore
U.N. Security Council to meet, Libya hands out cash
Libya: Col Gaddafi's son 'in hiding on Venezuelan island'
"One of the sons of Muammar Gaddafi, the Libyan leader, is in hiding on an island off the coast of Venezuela, a politician in the South American country has claimed."
U.N. Security Council to meet, Libya hands out cash
Libya: Col Gaddafi's son 'in hiding on Venezuelan island'
"One of the sons of Muammar Gaddafi, the Libyan leader, is in hiding on an island off the coast of Venezuela, a politician in the South American country has claimed."
"Xinhua said numerous Chinese corporate facilities were damaged in the violence in Libya, with 'armed gangsters' robbing some of them of grain and other materials."
## Fault lines/flashpoints/military ##
How will America handle the fall of its Middle East empire?
Saudi Arabia king accused of misjudged bribery in attempt to avoid unrest
Saudi Arabia king accused of misjudged bribery in attempt to avoid unrest
## Energy/resources ##
China's Sinopec wants to take part in oil exploration in Brazil
Spain to lower speed limit as oil prices rise
Spain to lower speed limit as oil prices rise
"More Saudi oil is 'reportedly' flowing through the kingdom's 1,200-kilometer (750-mile) East-West pipeline from the 7 million-barrel-a-day Abqaiq processing facility in the eastern part of the kingdom to the Red Sea port of Yanbu for shipment to the Mediterranean, the agency said."
How much actual increased production is there, and how long can it be sustained? These are vital questions. The wolf is already at the door of the global economy. -- RF
## Got food? ##
New Pathogen Found in Roundup Ready GM Crops Causes Spontaneous Abortions and Infertility in Livestock?
Study predicts aged-care bed shortage (Australia)
"A new report has found Australia faces a shortage of 280,000 aged-care places by 2050, if there are no changes to current policy."
Although this demographic factor is no help for the pension system, it is a good thing in the face of peak food. -- RF
## Intelligence/security/internet/systemic breakdown ##
Al Jazeera Enrages Dictators, Wins Global Viewers With Coverage of Unrest
Al Jazeera Enrages Dictators, Wins Global Viewers With Coverage of Unrest
## UK ##
U.K. Economy Shrank More Than Estimated in Fourth Quarter
Military chiefs urge David Cameron to rethink cuts
Military chiefs urge David Cameron to rethink cuts
British forces would struggle to mount small military intervention, claim officers
"British forces would struggle to mount even a small scale military intervention as the cupboard for resources was 'threadbare', senior officers have said."
"British forces would struggle to mount even a small scale military intervention as the cupboard for resources was 'threadbare', senior officers have said."
"Some [analysts] say a union victory could put the nation's municipal bond market at risk – a market many analysts already fear is heading for a crash."
"Jeffrey Gundlach of DoubleLine Capital, dubbed 'King of Bonds' by Barron's, sees a 'major collapse' in the municipal-bond market. After the carnage happens, he plans to scoop up the bargains left behind."
Pennies on the dollar. -- RF
Nevada's Budget Problems Are A Disaster For Las Vegas Schools
Austerity, Oil Prices Helping Put the 'Stag' in 'Stagflation'
BOB PRECHTER: We're Still In A Massive Bear Market And Stocks Will Crash To New Lows
Austerity, Oil Prices Helping Put the 'Stag' in 'Stagflation'
BOB PRECHTER: We're Still In A Massive Bear Market And Stocks Will Crash To New Lows
"U.S. airlines had their best year in a decade in 2010, but with a mere 2% profit margin."
Oil Prices And The Future Of Airline Employees
Downsize, downsize, downsize. -- RF
Downsize, downsize, downsize. -- RF
Thursday, February 24, 2011
News Links, February 25, 2011
-- Global economic meltdown --
"Vietnam's government raised prices of gasoline and other fuel products by as much as 24%, an industry official said, likely complicating the task of taming what may be Asia's most difficult inflationary problem."
Economic growth stagnates, debt can't be repaid, collapse ensues. -- RF
"Inflation has led to political revolutions since Medieval times and we may be witnessing the fifth such great revolution in history unfolding in the Middle East and in our own country right now... During the past four price revolutions, food and fuel led the upward movement in prices, followed by manufactured goods and services... The relevance of the history of previous inflation waves to the present situation is downright eerie."
-- Libya --
He has learned well from the US. -- RF
Report: NATO might send aircraft to Libya (Jerusalem Post)
-- Fault lines/flashpoints/military --
-- Energy/resources --
A Simple Rule Of Thumb Regarding Oil And How It Impacts The Economy
Australian Mining Boom Still Growing
Australian Mining Boom Still Growing
Nomura $220 call is absurd without Saudi black swan
Why Saudi Arabia can no longer temper oil prices (Jeff Rubin)
Why you really can't swap Libyan oil for Saudi
Why Saudi Arabia can no longer temper oil prices (Jeff Rubin)
Why you really can't swap Libyan oil for Saudi
Saudis hold talks with refiners amid warnings of oil crisis and rationing
"Opec oil producers look at pumping more to European refineries as Libyan rebels claim to have seized oilfields and terminals."
"Opec oil producers look at pumping more to European refineries as Libyan rebels claim to have seized oilfields and terminals."
CHART: See Where Libya's Oil Exports Are Headed
Asia expected to burn 2/3 of global LNG in 2015 -Credit Suisse
China Pays 13% More for January LNG Imports, Customs Data Show
Asia expected to burn 2/3 of global LNG in 2015 -Credit Suisse
China Pays 13% More for January LNG Imports, Customs Data Show
-- Got food? --
Charities warn of food shortages in North Korea
Charities warn of food shortages in North Korea
"Officials from five aid agencies who have just returned from a trip to North Korea say they saw evidence of looming food shortages and alarming malnutrition, including people picking wild grasses to eat."
"The unwavering position here at Gregor.us however is that while global monetary policy can amplify price moves in many commodities, when it comes to oil—the master commodity—flat to declining global oil production over the past five years is the most important factor in price."
Duh! -- RF
-- Intelligence/security/internet/systemic breakdown --
Another Runaway General: Army Deploys Psy-Ops on U.S. Senators
Another Runaway General: Army Deploys Psy-Ops on U.S. Senators
Internet outage hits General Assembly (Virginia)
Immigration fight: Bill to end 'birthright citizenship' advances in Arizona
Immigration fight: Bill to end 'birthright citizenship' advances in Arizona
"Not since the Great Depression have the finances of the city been this precarious."
Wednesday, February 23, 2011
News Links, February 24, 2011
-- Global economic meltdown --
Vietnam Raises Rates for Second Time in a Week as Dung Battles Inflation
Dubai Can't Kick Its Building Habit as Glut Lowers Prices
Dubai Can't Kick Its Building Habit as Glut Lowers Prices
"In the next two years, tens of thousands of new properties will come onto a market where about 40 percent of homes and offices are empty."
Pumping up a real estate bubble that is already higher than the Burj Khalifa. -- RF
-- Libya --
Gaddafi loses more Libyan cities
Why a Stable Libya is So Important to OPEC and World Oil Production
Clampdown in Tripoli as protests close in
Why a Stable Libya is So Important to OPEC and World Oil Production
Clampdown in Tripoli as protests close in
Libya: Middle East airports turn away Gaddafi planes
"Airports around the Middle East were on Wednesday night turning away planes carrying members of Col. Muammar Gaddafi's family."
"Airports around the Middle East were on Wednesday night turning away planes carrying members of Col. Muammar Gaddafi's family."
-- Fault lines/flashpoints/military --
The fuse has been lit; handouts won't stop the explosion. -- RF
Libya and Oil Part II – Don't watch Libya. Watch Saudi.
Greek police in fresh clashes with protesters
Greek police in fresh clashes with protesters
Roughly 1/5 of Bahrain's Population Out in Protests
Thousands protest against high food prices in Delhi
Thousands protest against high food prices in Delhi
'I won't pay' movement spreads across Greece
"In light of austerity measures, citizens ignore tolls, transit ticket costs, even bills for healthcare"
"In light of austerity measures, citizens ignore tolls, transit ticket costs, even bills for healthcare"
Behind Libya: rising food prices and US debt (Bill Bonner, Daily Reckoning)
"Behind the popular discontent in the Arab world is food. And behind soaring food prices is Ben Bernanke."
"Behind the popular discontent in the Arab world is food. And behind soaring food prices is Ben Bernanke."
Anti-China or whatever, everyone is just aiming to plunder Africa's resources and energy in a futile effort to maintain the infinite-growth ponzi-scheme economy. -- RF
Don't Expect The World's Navies to Save You from Pirates (Danger Room)
BULLETIN: Libyan judge says Gadhafi ordered Lockerbie bombing
US Army wants rapid-fire rubber bullets for crowd control
The sinking US empire: Israel must prepare for continued global decline of its greatest ally, the United States (YNET)
US Army wants rapid-fire rubber bullets for crowd control
The sinking US empire: Israel must prepare for continued global decline of its greatest ally, the United States (YNET)
DPJ members at 'Takeshima Day' (Japan; another simmering territorial dispute)
-- Energy/resources --
Rise in electricity demand spells trouble in summer (India)
Power cuts fuelling crisis (India)
"We are making it official. There will be an additional one hour of load shedding every day till the power situation improves."
293 delayed projects led to cost overrun of Rs 68K cr (India)
India just keeps falling farther and farther behind. -- RF
Libyan Unrest Causes Commodity Prices to Skyrocket
Russian 'nuclear renaissance' postponed as government cuts Rosatom investment program
Russian 'nuclear renaissance' postponed as government cuts Rosatom investment program
Nuclear renaissance: Dead on arrival. -- RF
If the world calls, will Saudi be there? (Foreign Policy)
-- Got food? --
Control over your food: Why Monsanto's GM seeds are undemocratic (CSM)
Control over your food: Why Monsanto's GM seeds are undemocratic (CSM)
I include this as an example of how people who believe in endless energy and infinite growth can get it so wrong. Big cities will crumble -- indeed they already are crumbling -- and will become absolute hellholes ruled by armed gangs and packs of dogs. -- RF
"But the revised wording continues to alarm civil liberties groups and other critics of the bill, who say the language would allow the government to shut down portions of the Internet or restrict access to certain Web sites or types of content."
Wow! US Ambassador To China Caught On Video At "Jasmine Revolution" Protest
Chinese Push for 'Jasmine' Protests Continues
Chinese Push for 'Jasmine' Protests Continues
-- US --
Airlines hike fares - again
Social Security Works to Avert Data Center Failure
New Report: 'Higher Hate Group Count Than Ever'
Social Security Works to Avert Data Center Failure
New Report: 'Higher Hate Group Count Than Ever'
This is America: A Visual Reminder Of US Social Stratification
Neofeudalism advances quickly as wealth concentrates within the new aristocracy and the rest of us are relegated to serfdom. -- RF
Vacant homes plague Washington Park; census shows one in three empty
Providence, R.I., to pink slip all teachers
Gasoline, Heating Oil Surge as Libya Revolt Threatens Supplies
Providence, R.I., to pink slip all teachers
Gasoline, Heating Oil Surge as Libya Revolt Threatens Supplies
"You really can't make this sh*t up: 'The economy is in a much stronger position to handle' rising oil prices, Tim Geithner said today during a Bloomberg Breakfast in Washington. 'Central banks have a lot of experience in managing these things.' We are, all of us, now doomed."
And finally...
Don't let this happen to you! Texting driver crashes into river
Tuesday, February 22, 2011
News Links, February 23, 2011
-- Global economic meltdown --
ECB Doesn't Exclude Possibility of Euro-Zone Inflation Risk, Trichet Says
ECB Doesn't Exclude Possibility of Euro-Zone Inflation Risk, Trichet Says
"Greece's debts are rising rapidly despite radical austerity measures. Now a group of leading European economists has warned that creditors might have to write off more than 30 percent of their loans. Greece might even have to reintroduce the drachma to overcome its debt crisis, they argue."
One more savings bank shut down (SKorea)
Central Economic Planning at Its Worst (Ron Paul and Financial Sense)
-- Libya --
Libyan pilots and diplomats defect
"Group of army officers have also issued a statement urging fellow soldiers to "join the people" and help remove Gaddafi."
"Group of army officers have also issued a statement urging fellow soldiers to "join the people" and help remove Gaddafi."
Libyan diplomats defect en masse
"Envoys at key embassies across the world disown Gaddafi's regime in protest over violent crackdown against protesters."
"Envoys at key embassies across the world disown Gaddafi's regime in protest over violent crackdown against protesters."
Gaddafi's Next Move: Sabotage Oil and Sow Chaos? (Time)
Gadhafi Defiant as Key Ally Defects, Oil Ports Shut (WSJ)
Eni's Libyan Oil Drilling at Risk as Violence Threatens Italy's Interests
Gadhafi Defiant as Key Ally Defects, Oil Ports Shut (WSJ)
Eni's Libyan Oil Drilling at Risk as Violence Threatens Italy's Interests
-- Fault lines/flashpoints/military --
Huge Bahraini counter-protest reflects rising sectarian strife
Global arms exporters unfazed by recession, says SIPRI
Russia makes clear to US that it owns islands disputed with Japan
Russia makes clear to US that it owns islands disputed with Japan
Iraqi officials bend to protesters' demands
"Prime Minister Nouri al-Maliki said he would personally oversee food rationing for the poor, while Baghdad's provincial chief promised to fire corrupt officials. A major rally is planned for Friday."
"Prime Minister Nouri al-Maliki said he would personally oversee food rationing for the poor, while Baghdad's provincial chief promised to fire corrupt officials. A major rally is planned for Friday."
"The top U.S. uniformed military officer met with Saudi military officials Sunday to discuss the pro-democracy protests roiling the Middle East and whether Iran was seeking to take advantage of the unrest."
-- Energy/resources --
Helsinki runs out of arctic-grade diesel
Australia Industry Wants CO2 Price To Fight Rising Power Costs
Australia Industry Wants CO2 Price To Fight Rising Power Costs
Praying for an Energy Miracle
"Every clean-tech startup these days claims to have a breakthrough that will finally make renewable and clean energy sources cheap enough to compete with fossil fuels. But are we really on the brink of a clean-energy economy?"
"Every clean-tech startup these days claims to have a breakthrough that will finally make renewable and clean energy sources cheap enough to compete with fossil fuels. But are we really on the brink of a clean-energy economy?"
Won't be needing all those refineries in the future. -- RF
Libya: Italian oil giant suspends supply from Libya
"Italy's largest oil and gas company announced that natural gas supplies from Libya had been cut off, with the government in Rome warning that it has just 30 days' worth of gas reserves and enough oil to last 90 days."
"Italy's largest oil and gas company announced that natural gas supplies from Libya had been cut off, with the government in Rome warning that it has just 30 days' worth of gas reserves and enough oil to last 90 days."
"A rush by farmers to expand plantings in many parts of the world is raising expectations that food prices may retreat as early as the second half of this year if weather conditions remain favorable."
We had better hope so, but let's not count on it. -- RF
As usual, the Japanese government is way behind the curve. The ground is already shifting under their feet, yet they cling to the notion that copious food imports will continue. Mass starvation awaits. -- RF
-- Intelligence/security/internet/systemic breakdown --
Web Wiretaps Raise Security, Privacy Concerns
Web Wiretaps Raise Security, Privacy Concerns
Internet censorship comes to the US. What would Hillary Clinton say about this? -- RF
China official warns of domestic unrest and "hostile" West
She ain't seen nothin' yet. -- RF
-- US --
"The daunting tower of national, state and local debt in the United States will reach a level this year unmatched just after World War II and already exceeds the size of the entire economy, according to government estimates."
Market Crash 2011: It will hit by Christmas (Paul Farrell)
"Paying off the entire U.S. national debt in gold would take nearly double the entire amount of gold ever found in the world."
"Of the nation's 85,000 dams, more than 4,400 are considered susceptible to failure."
The airline industry will collapse, and in the future only the rich will fly. -- RF
"Hundreds of thousands of school employees -- teachers, as well as aides, school nurses, librarians, administrators and bus drivers -- could lose their jobs in coming months."
