Happy Tuesday! This is Tuesday right? LOL
hope everyone is getting a break from the hot weather today although, I know a lot of you are still suffering the heat and drought. Surely autumn will be better.
Check out Max Keiser today! I love this guy!
We discuss the virtual virtual economy getting hit by a dustbowl and there are no gully washers or toad stranglers on the horizon to bring relief; meanwhile out in the virtual real economy it’s all the bath-salts and beer you can drink and scalps for sale in California as eminent domain falls into the hands of private bankers. In the second half, Max interviews Teri Buhl about the possibility of San Bernardino county using eminent domain to seize mortgages from one set of rich private investors to give them to another set of rich private investors.Be sure to stop by and visit our friends RJ at the Global Glass Onion and the Ozarker at Conflicted Doomer , and to Doug at 3Es News and David at ETF Daily.
Peak Oil and Energy News
CNNMoney: Drought strains U.S. oil production
DavidStranan: Monbiot peak oil u-turn based on duff maths CNN: India hit by second huge power outage, this one larger than before
EnergyBulletin: Retrofitting the suburbs for the energy descent future - Sometimes well-meaning 'green' people like to imagine that the eco-cities of the future are going to look either like some techno-utopia - like the Jetson's, perhaps, except environmentally friendly - or some agrarian village, where everyone is living in cob houses that they built themselves. The fact is, however, that over the next few critical decades, most people are going to find themselves in an urban environment that already exists - suburbia.
Grist: TransCanada gets final OK for last leg of Keystone pipeline down middle of U.S.
NYT: BP Posts Unexpectedly Large Loss
OilVoice: Exxon and the historic oil majors face troubled times
Businessweek: Day Two of India's Blackout Hits Half the PopulationNYT: Power Failures Hit Half of India
ChinaScopeFinancial: Oil Prices in China May Be Raised on August 10
Marketwatch666: One active-duty service member in US military commits suicide every day.
GlobalPost: Israel stunned by wave of self-immolations - Self-immolation is so unheard of in Israel, authorities seem unsure how to react.
JERUSALEM, Israel — The second half of July has exposed Israelis to a new and horrifying phenomenon: desperate but mainstream citizens choosing, again and again, to end it all through fire.Reuters: Syrian rebels say Aleppo theirs "within days"
So far, there have been seven attempts in the last two weeks, and numerous threats. One man is dead, another clings to life.
CBSNews: Clashes in Aleppo continue for 11th straight day
Spiegel: Israel's Red: Line Fate of Syrian Chemical Weapons May Trigger War - As the battle against Syrian rebels reaches a new stage, Israel is worried that President Assad might use his vast arsenal of chemical weapons against his own people or neighbors -- or perhaps even give some to Hezbollah. Though many experts view this as unlikely, Israel is still weighing whether to strike.
Reuters: Aleppo rebels say they stand firm in "regime's grave"
Businessweek: Syria Pounds Rebels in Aleppo as 200000 Flee Fighting
CSMonitor: From Iran to China, Romney's comments in Israel earn him international criticism
Cryptogon: CIA Calls Israel Main US Regional Spy Threat
SeattlePI: Iran bank chief calls sanctions akin to 'war'
VancouverSun: Syria's most senior diplomat in London has defected - Britain's Foreign Office reports developing incident
GlobeAndMail: Romney’s ‘racist’ economic statement outrages Palestinians
CBSNews: Troops allegedly kill boy, 6, fleeing Syria - Mother, witnesses say 6-year-old gunned down by Syrian military sniper as his family tried to cross border into Jordan
WSJ: Why China Is Tolerating Violent Protests
NYT: Russian Prosecutors Charge Protest Movement Leader
Counterpunch: The New Police Surveillance State
Domestic Financial News
FiscalTimes: How GOP Lawmakers Have the Fed Over a Barrel - The GDP report released late last week showed economic growth slowing to 1.5 percent, and this has raised expectations that the Fed will to do more to help the economy. With more and more signs pointing to a stagnating recovery, additional help from the Fed is certainly needed. But no matter what the Fed does, it cannot solve the economy’s problems on its own. When a recession as severe as the one we’ve just experienced hits the economy, fiscal policy also has an important role to play. But if fiscal policy is so important, why haven’t fiscal policymakers in Congress done more to help the economy recover? One answer is that Congress is broken, but broken would mean that neither side is making progress on its goals, and that is simply not the case. Through a combination of deliberate policy actions and deficits created by the recession, the Republican’s “Starve the Beast” strategy to reduce the growth of government is working.
NPR: Is Housing Recovery Real? Not Everyone Is ConvincedBloomberg: Home Prices in US Fell Less Than Forecast in Year to May
WSJ: Milton Friedman Comments on Monetary Policy
EconomyWatch: Americans cut spending for 1st time in a year
Economist: Output, prices and jobs
Forbes: U.S. Home Prices Rise In May, But Is The Housing Rebound Stalling?
FDL: For-Profit Colleges Slammed in Senate Report
CapitalGainsAndGames: Congress Budget Fail: The Sequestration Tranparency Act
StumblingAndMumbling: Corporate crime: basic economics - Unlearning Economics says that capitalism gives us "institutionalized law-breaking": Corporations have long history of force, fraud and theft...In a system based on private accumulation, they will use their profits to corrupt the legal system, hijack public funds, get the best lawyers, and make their operations as opaque as possible to avoid prosecution, no matter the charge. None of this is a bug of capitalism; it is a feature.If this sounds like a lefty rant, it shouldn't. It's just elementary economics.
JaredBernstein: Those (Us) Greedy Boomers - In this AM’s NYT, Bill Keller goes after baby boomers for not getting behind entitlement reform.
CharlesHughSmith: The Central Banking Theater of the Absurd
JOC: More Container Ships Face Long-Term Unemployment
Global Financial News
BlacklistedNews: Four sentenced to death over $2.6bn Iran bank fraud
Mish: Eurozone Retail Sales Sink 9th Month; 17th Month of Contraction in Italy; Margins Collapse in France; Germany Barely Above Contraction
CuriousCapitalist: Defying Gravity: Is Asia’s Economic Miracle About to Stall?
Krugman: Doing A Cameron - Do you remember the adulation heaped on David Cameron and George Osborne when they boldly decided to ignore the lessons of the 1930s, not to mention basic textbook macroeconomics, and impose fiscal austerity in a depressed economy?
ProjectSyndicate; Europe’s Zero-Sum Poison - Whenever a society regards its problems solely through the prism of distributional disputes, its chances of solving them diminish greatly, because the “us versus them” mentality distorts analysis and blocks solutions that would unambiguously improve the overall situation.
Hosted: Japan utility gets $12.8B nuclear crisis bailout
CNBC: Near-Bankrupt Greece Says Cash Reserves Drying Up
GlobeAndMail: IMF’s $2-billion will ease, not solve, Jordan’s problems
ETFDailyNews: This Oddball Indicator Has Gold Bugs Salivating
IBTimes: The Federal Reserve, Gold, Oil, & the Dollar’s Demise
CommodityOnline: Indian Gold demand could be hurt if monsoon remains weak: HSBC
Mineweb: Silver needs gold's coat tails to rise further
ClimateCentral: Extreme Heat Continues to Plague South Central States
MotherJones: Does Climate Change Mean More Polar-Grizzly Bear Hybrids ?
Grist: The saddest pictures of drought-stressed corn
FutureOfTech: Tiny Tokelau to be world's first solar-powered country - A project to convert the tiny island nation of Tokelau to all solar power is nearing fruition, as workers finish the first of three major panel arrays. Once activated, the installations should provide more than 90 percent of the power used by the islands' 1,711 residents.
WashingtonPost: Mass. beach where swimmer was bitten remains open as authorities try to determine cause - The Executive Office of Environmental Affairs said Tuesday it is gathering information about the Monday incident at Ballston Beach in Truro but could not confirm what caused the swimmer’s wounds.
EnvironmentalNewsNetwork: Chart: Tropical forest loss between 2000-2005
ENENews: Genetic mutations from radiation exposure are up to 100 times higher than anything we have encountered in the animal kingdom -Dr. Fernex, Former WHO Consultant
Rawstory: Rare earth metals under Greenland’s melting ice sheet could trigger mining rush
America in Decline
BlacklistedNews: Flash Mob Crimes And Organized Looting Have Become A Normal Part Of Life In America
Food and Water
FDL: House Releases One-Year Farm Bill Extension - The House has released an expected one-year extension of farm-related programs, in a bill which would also deliver needed relief to drought-stricken farmers in the Midwest. But the plan is imperiled by the continuation of direct payments to farmers, which members of both parties oppose.
CBSNews: Amid drought, wine grapes save a cotton farmer
CattleNetwork: Doane Crop Tour Day 6: Ohio corn growth stunted
Grist: Big Food puts its back into fighting GMO labeling in California
Science and Technology
EurekAlert: When rules change, brain falters
BigThink: How Being Wired to the 'Net Poses an Existential Threat
Medical and Health
CommonDreams: Medical Marijuana Patients Get Their Day in Federal Court with the Obama Administration
CNN: Belittling kids as harmful as beating, study finds
FiscalTimes: 5% of Americans Spend 50% of Health Care Dollars
NBCNews: Devices can't save babies in hot cars, agency warns
DoctorTipster: Kidney Cancer Vaccine Increases Survival Rates
Doomsteading, Gardening, Urban Farming
EarlyWarning: Decline of Backpacking
ModernSurvivalBlog: Fake TV Burglar Deterrent Review
WaldenEffect: mark: Plastic pitcher delivery
Guardian: Colorado shooting suspect formally charged with 24 counts of murder
Wired: Spycraft for Nerds: Brainy Tips for Winning at Life
Salon: Romney’s Israel healthcare stunner
Reuters: Romney's foreign controversies overshadow economic message
WashingtonPost: In Israel, Romney wows crowds but puzzles with grasp of Palestinian relationship
NBCNews: Ancestry website: Obama's mother descended from first US slaveAtlantic: The Startling Accuracy of Referring to Politicians as 'Psychopaths'
MotherJones: Mitt Romney's Big, Gay Olympics - Mitt Romney has received plenty of plaudits for his takeover of the 2002 Winter Olympics, after the Salt Lake Organizing Committee (SLOC) became mired in a major bribery scandal. But there's one accomplishment from his time in Salt Lake City that has been largely omitted from the oft-told narrative of his Olympic effort: Romney's success in making the 2002 Winter Olympics one of the most gay-friendly games in Olympic history.
AngryBear: Culture Indeed Makes All the Difference. (Just not necessarily in the way Romney meant.)
JPost: W. House: 'Scratching heads' from Romney on J'lem
Businessweek: 5 ATF officials singled out in GOP report
CSMonitor: Texas runoffs see tea party, mainline GOP clash
Spiegel: Romney Flops in Europe
DailyBeast: Texas Senate Primary: Elite v Elite
TinfoilPalace: US Coach Suggests Chinese Using Genetic Manipulation Of Athletes?
TinfoilPalace: ETs to Reportedly Show Up at Olympics!!
OilAge: Jan Lundberg takes a disturbing turn
OilAge: Syria Discussion
HubbertsArms: Places to be in the "new normal?"
HubbertsArms: Mini-livestock (bugs) - The future food
SilentCountry: It's corporate greed, Plain and simple.
SilentCountry: Wall St Week Ahead: Rolling out red carpet for central banks
DestinyCalls: Timewave zero from june 2012
DestinyCalls: History A Vast Early Warning System, Ever Heard Of A Guy Named Noah?