This week sure it flying by isn't it? I hope everyone is getting to get outside in the fresh air!
Our forum member Robert Denner has a great post out and I've linked to it at the top of the financial news section or you can click here---> The Daily Economic Update. Robert, you really out did yourself on that one!
Also, thanks to rj for the links and the friendship, rj's weekly wrap-up of the financial news is a must read on Fridays. That's at Global Glass Onion.
Be sure and visit all the blogs and sites that the forum members keep for us. I have them linked on the left as well as the forums at the bottom of the blog.
Now for some Kunstler!
A wicked vibe rattles the mental furniture in men's minds these days. Against the dreadful normality of American life - the morning traffic on I-495, the mayhem awaiting in some school cafeteria or motor vehicle office, the household awakenings to a new dawn of foreclosure here, there, and everywhere - all this ceremony of the familiar is like a stage backdrop that conceals the awful crush of history. Things are swaying and crashing outside the magic theater of the normal, where we act out our tragicomedy of "Waiting for Recovery."
NewsonJapan: Livestock left to perish in zone
Abandoned Cattle Lay Dead and Dying Near Fukushima - April 10, 2011 - Sad :(ExtinctionProtocol: March 11, 9.0 Tōhoku earthquake as heard under the ocean
Bloomberg: Tepco Must End ‘Whack-a-Mole,’ Protect Reactors From Storms (2)
TheTelegraph: Rebuilding Japan: Self restraint threatens recoveryPost earthquake, luxury goods are out of fashion, and hurting the economy.
TheTelegraph: Rebuilding Japan: Self restraint threatens recoveryPost earthquake, luxury goods are out of fashion, and hurting the economy.
Wired: Op-Ed: Psychiatric Disorder Could Complicate Japan Quake Recovery
CSMonitor: Japan officially declares no-go zone around FukushimaMore than a month after a devastating earthquake and tsunami sparked Japan's worst nuclear crisis, Japan has made it illegal to come within 12 miles of the Fukushima Daiichi nuclear power plant.
Reuters: Mortars pound Misrata as West talks of tougher action
(Reuters) - Libyan government troops pounded the besieged rebel-held city of Misrata overnight, undeterred by Western threats to step up military action against Muammar Gaddafi's forces.
Time: Why Does Syria See a Threat Coming from Tiny Lebanon?
TheExiledOnline: WN 30: Cripple Fight In Libya
Do check out Robert's blog post today! Wow Robert, great work!
The Daily Economic Update: U.S. CORP and the impending IMF merger: By Robert Denner
Been lots of talk around lately regarding the collapse of the US Dollar and what that would mean for the United States of America and the world. There has also been a lot of talk about the Federal Reserve Bank of the United States of America and how unhappy the people of the US are getting with this largely unknown organization.NotMadeofMoney: Would You Put Advertising On Your House For A Free Mortgage?
MyBudget360: Banks gone wild
The temporarily embarrassed millionaire syndrome. Bailout recipient JP Morgan Chase pays CEO what amounts to 843 times the median US household income.
CharlesHughSmith: Our "Let's Pretend" Economy
Children love to play "let's pretend." Let's pretend the economy is "recovering."Why does this "recovery" remind me of an addict who's conning his caseworker? (Yes, I'm really in recovery--those aren't tracks, they're insect bites....)
BusinessInsider: Here We Go Again
After another set of strong earnings Wednesday after the bell, Thursday is already shaping up nicely with Japan higher, and another rally in US futures (and another big leg up in the euro!).
TheTelegraph: Questor plus: Lust for gold
Audio: Questor editor Garry White tells Robert Miller why he remains a gold bug after his trip to Russia.
Reuters: Morgan Stanley profit drops nearly 50 percent
BusinessInsider: Jim Rogers Is One Step Away From Shorting The US Treasury Market
Jim Rogers says he will short the US Treasury Market if rates keep rising (via @Alea_).
He told Reuters:
"If the bond goes up another 3 or 4 points, I for one am going to sell it short.
BusinessInsider: Here's What Happens When The US Treasury Hits "The Desperation Stage"
Suddenly, everyone is wargaming various scenarios for what happens if the debt ceiling isn't raised, and the Treasury legally can't borrow anymore money.
ChrisMartenson: The Breakdown Draws Near
Things are certainly speeding up, and it is my conclusion that we are not more than a year away from the next major financial and economic disruption.
Alas, predictions are tricky, especially about the future (credit: Yogi Berra), but here's why I am convinced that the next big break is drawing near.
MarketWatch: 10 Doomsday trends America can’t survive
Commentary: We are past the point of no return, thanks to Super Rich
DailyKos: Corporate America's Ultimatum: 'Cut our taxes or we'll cut your jobs'
U.S. multinational companies eliminated 2.9 million jobs in the United States and added 2.4 million jobs some place else over the past decade, according to data (pdf) released by the Department of Commerce on Monday.
HousingWire: Commercial real estate makes up 77% of troubled loans at failed banks
EconomicPopulist: Beyond ForeclosureGate - It Gets Uglier
The ForeclosureGate scandal poses a threat to Wall Street, the big banks, and the political establishment. If the public ever gets a complete picture of the personal, financial, and legal assault on citizens at their most vulnerable, the outrage will be endless.
ATaxingMatter: Fearmongering over the US Budget Deficit
WSJ: GE's Profit Jumps 77%
BusinessInsider: 35 Facts That Show Just How Much The Average American Has Been Destroyed By This Economy
FT: Japan loss weighs on Morgan Stanley
Peak oil and Energy News
Future Imperative: Former Saudi Oil Minister - Kingdom's Oil Could Hit $200 to $300 a Barrel
TruthDig: U.S. Oil Production on the Rise Despite Gulf Drilling Moratorium
On the one-year anniversary of the Deepwater Horizon disaster, industry forecasters believe the U.S. is on track to increase its overall oil production this year as projects outside of the Gulf of Mexico take priority.
13wham: High Gas Prices Fuel Used Compact Car Sales
Greece, N.Y. - Fuel efficient cars are becoming harder to get and keep on local used car lots.
Analysts project gas prices could average $4 a gallon for regular unleaded by week's end in Rochester.
ABCNews: Near record high gas prices emptying pockets
Commodities&Futures: Morning Heating Oil Market Report
June heating oil seemed to draft support from Wednesday's EIA data that showed an unexpected decline in distillate inventories. EIA distillate stocks fell by 2.504 million barrels to 148.335 million barrels. This draw slashed inventory compared to year ago levels to a deficit of 548,000 barrels, which is the first deficit since mid-December 2010.
NewsNetworkArchaeology: Gold prices spur six-fold spike in Amazon deforestation
Deforestation in parts of the Peruvian Amazon has increased six-fold in recent years as small-scale miners, driven by record gold prices, blast and clear more of the lowland rainforest, according to a new Duke University-led study.
BBC: Plague of worms descend on United Kingdom
Residents in Pangbourne and parts of west London have been warned to steer clear of a toxic caterpillar.
ExtinctionProtocol: Thousands of fish float dead in Australian dam
WashingtonPost: Federal team joins battle to control large Texas wildfire as 2nd firefighter dies
BBC: Gulf of Mexico oil spill: BP sues Transocean for $40bn
The blowout preventer is lifted onto a ship in the Gulf of Mexico in September An inquiry found the blowout preventer had snagged on a piece of drill pipe
BP is suing Transocean, the owner of the oil rig that exploded in the Gulf of Mexico last year, for $40bn (£24.37bn) in damages.
DailyKos: "Massive" Fracking Blowout spill in PA.
Operators have lost control of a natural gas well in rural northern Pennsylvania, leading to a spill of fluids used in the drilling process.
Bradford County emergency officials say thousands of gallons of tainted water have spilled from a Chesapeake Energy Corp. well site near Canton since early Wednesday.
BBC: Smog alert in England and Wales
The government has issued a "smog alert" in England and Wales for ozone and polluting particles known as PM10s, which can affect people's health.
MotherJones: Climategate: Anatomy of a Scandal
America in Decline
RawStory: Conservative activist: Bible, Ben Franklin, Pilgrims all opposed to net neutrality
The idea that all Internet traffic should be treated equally is against the teachings of the Bible and America's Founding Fathers, according to evangelical Christian minister and political activist David Barton.
During his radio show on Tuesday, he said that net neutrality violated the Biblical principle of free markets, a principle upheld by Benjamin Franklin, Thomas Jefferson, and George Washington.
DailyKos: EFM Takeover Of Detroit Schools: Teen Mothers Arrested, Children taken Into Temporary Custody
Approximately a dozen teachers, teen mothers and their children were arrested and taken away by Detroit police while staging a peaceful sit-in protest at the Catherine Ferguson Academy in Detroit on Friday April 15th.
WashingtonPost: For union families, a loss of value beyond bank accounts
COLUMBUS, Ohio — Judy and Jim Embree, an operating room nurse and paramedic and firefighter, were attending a rally at the state Capitol when they discovered that everything they thought to be good and right about their lives was, to an alarming number of people, completely wrong.
NakedCapitalism: Koch Industries Tells Its 50,000 Workers How to Vote
TheNation: Big Brothers: Thought Control at Koch
Food and Water
As I've said before "Whoever feeds you, owns you." and Monsatano is intent on owning you.
FarmWars: A Government of Monsanto, by Monsanto, and for Monsanto
With help from the FDA and USDA, the biotech industry is set to completely take over our food supply with genetically modified ingredients, irregardless of the wishes of “we the people.”
FarmWars: USDA moves to let Monsanto perform its own environmental impact studies on GMOs
To satisfy the legal system’s pesky demand for environmental impact studies of novel GMO crops, the USDA has settled upon a brilliant solution: let the GMO industry conduct its own environmental impact studies, or pay other researchers to. The USDA announced the program in the Federal Register for April 7, 2011 [PDF].
Omaha.com: Farmers not to blame for food prices
Farmers and ethanol producers have braced for what they expect could be widespread criticism as corn prices are rising rapidly and other food costs are following.
Grist: Organic agriculture: deeply rooted in science and ecoloogy
Organic farming is often falsely represented as being unscientific. However, despite the popular assumption that it sprang full born from the delusions of 60s hippies, it has a more extensive, and scientifically respectable, provenance.
PoleShift: PHOTOS: Fog Catchers Harvest Air's Water in Arid Places
(thanks to my friend Ellie for this link)
Science and Technology
NewsNetworkArchaeology: Four individuals caught in 'death trap' may shed light on human ancestors
ActivistPost: Army surveillance bot approved for use by police, firemen
Medical and Health
NatGeo: Egyptian Princess Mummy Had Oldest Known Heart Disease
An ancient Egyptian princess might have been able to postpone her mummification if she had cut the calories and exercised more, medical experts say.
Gawker: Hand Sanitizers Will Not Save You From the Coming Plague
The Food and Drug Administration has issued a caveat today, reminding consumers that any hand sanitizer or antiseptic product claiming to be effective against antibiotic-resistant infection is telling you a Bald. Faced. Lie.
WashingtonPost: 6 teens, adults charged in connection with killing of 15-year-old boy at central Fla. home
DailyKos: World Ends May 21st at 6pm. Be there, or be square."Blow the trumpet, warn the people!". A fleet of logoed camper vans is touring every state in the nation. "It's getting real close. It's really getting pretty awesome, when you think about it," Mr Camping
BBC: Rioters torch Australia asylum seeker detention centre
Detainees at an Australian immigration detention centre in Sydney have rioted and burnt down nine buildings.
BBC: US sues over 'human trafficking' in farm industry
A US government agency has launched a multi-million dollar lawsuit in what it calls the largest human trafficking case in the US farming industry.PoliticalWire: Plurality of Republicans Think Obama Was Born Elsewhere
The Equal Employment Opportunity Commission is seeking damages for 200 Thai workers recruited to work on farms in Hawaii and Washington state.
The workers were allegedly abused and forced to live in rat-infested housing.
The new New York Times/CBS News poll finds 47% of Republican voters said they believed President Obama, who was born in Hawaii, was born in another country; 22% said they did not know where he was born, and 32% said they believed he was born in the United States.
OkCupid: 10 Charts About Sex
Time: Unveiled: First Turkish Woman Poses for German Playboy
TheTelegraph: French riot police threaten to strike over alcohol ban
France's riot police have complained about being "treated like children" following a new ban on drinking alcohol while on duty.
TheTelegraph: David Cameron 'uneasy' about creeping use of injunctions to gag press
David Cameron has said he feels 'uneasy' about judges increasingly using super-injunctions to create privacy law in Britain.
RawStory: MA court rules marijuana odor is no longer ‘reasonable suspicion’ for cops
BOSTON (Reuters) - The smell of marijuana smoke is no longer enough reason for police to order someone out of a car, now that pot has been decriminalized in Massachusetts, the state's highest court said in a decision published on Tuesday.
TinfoilPalace: So where did the Reptilian thing start, and what's behind it?
TinfoilPalace: The Cards Again.....................Combined Disasters
TheOilAge: Oil Crisis Just Got Real: Sinopec (Read China) Cuts Off Oil
TheOilAge: IMF warns of oil scarcity and a 60% oil price increase
Hubberts-Arms: Scotland Yard plans pre-emptive strike against royal wedding anarchists
Hubberts-Arms: Texas Wildfire - incredible photos!
SilentCountry: Active Enforced Denial
SilentCountry: Fuel protests in China