Item: Europe is broke.
Item: California is broke.
Item: California's Central Valley is dry and dying.
Item: New York is broke.
Item: New York City is broken.
Item: The Washington Post is intellectually bankrupt.
Item: France's Le Monde is too.
(via Instapundit, Allahpundit, Jazz Shaw)
9 comments:
Hey! When I want "good" news, I go to http://market-ticker.denninger.net/
That's about all I can handle!
I've sort of joined the "preppers", but have no idea what to do - in the sense of having always been a pack rat, but the question is what, how much, and how best to organize.
We live in an Ag area so that I think fresh veggies will always be available. But when I start to think about the things that might _not_ be available, I'm a bit overwhelmed. We're so accustomed to having everything - within a 10-20 minute driving range - that I simply don't know how to prioritize. Don't know how long we'll need to be prepared for.
Maybe it's pointless.
I don't know. Need a new crystal ball...
Here's another link you can add to your optimistic view of the world:
http://neithercorp.us/npress/2010/12/oil-juggernaut-unleashed/
Roy said:
laughed til I hurt (or was it hurt til I laughed?)
Talk about some steep learning curves, faiths held contrary to fact.... Sorta demonstrates that intelligence provides no sanctuary from stupidity.
I don't know what to make of the article Sue K. linked--other than it's paranoid. The concept that "speculators" are to blame for oil price spikes is nonsense--purcharsers of futures contracts necessarily are speculators, and their actions stabalize global goods markets (including for oil). It is true, however, that one key reason for the recent gradual rise in oil prices is the weakinging of the dollar--but that weakining (which is deliberate) is designed to stimulate exports. But the recovery -- particularly in the developing world, which has returned to health both stronger and faster than Europe/America/Japan -- is another reason for the rise in oil prices, contrary to the article.
I do know what to make of the comments on that article--pure lunacy.
More on the plight of California's Central Valley from Victor Davis Hanson
http://www.nationalreview.com/articles/255320/two-californias-victor-davis-hanson?page=1
> Item: The Washington Post is intellectually bankrupt.
> Item: France's Le Monde is too.
Dude,
a) They ARE French, after all.
b) This isn't "man bites dog" news, it's the other variety.
;^D
> Talk about some steep learning curves, faiths held contrary to fact.... Sorta demonstrates that intelligence provides no sanctuary from stupidity.
You cannot be intelligent and be stupid at the same time.
What you CAN be is an utter fool.
Don't confuse wisdom with intellect. They ain't the same beast, and it's rather foolish to confuse the two :^D
And it's quite possible to have one, the other, both, or neither. You'll find "both" is by far the smallest set of the four.
>>I do know what to make of the comments on that article--pure lunacy>>
I didn't read the comments.
What I got from the article was that with Obama's actions to limit oil drilling within the US boundaries, the middle east suppliers have been given carte blanche to control supply, hence price. China will undoubtedly drive a hard bargain, as will Russia, and will keep prices down to relatively reasonable levels, but the de-linking of the US dollar will put a crimp in prices for the US.
That's what I derived from it - but I admit my reading was a bit cursory.
Actually - sometimes it's good to be wrong! this may be one of them...!
I agree that the drop in the dollar -- whether or not OPEC de-dollarizes -- will raise relative energy prices for Americans over the next year or so. And, of course, restrictions on US/off-shore drilling have some effect on prices, but not huge in the short-term--it probably would take 5-8 years to see new domestic production even if all restrictions were removed.
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