Sunday Afternoon Reading
Man, I've been busy with my new oil report. I just had some time today to kick back and check on stories like ...
Investment Bank Fortis Expects Complete Breakdown of the American Financial Markets Within Days or Weeks
RUSSEL/AMSTERDAM (DFT) - Fortis expects a complete breakdown of the American financial markets within days or weeks. This explains, according to the bank insurer, the series of interventions on Thursday with the aim of strengthening themselves by € 8 billion. "We are ready at the last moment. The U.S. is doing much worse than we had thought,” said Fortis chairman Maurice Lippens, who insists that CEO Votron shall not be replaced. Fortis expects bankruptcies of 6,000 U.S. banks that have low coverage. "But the same goes also for Citigroup and General Motors, and thereby starts a complete meltdown in the U.S.”
In a side note, you can purchase Treasuries direct from the US government, and that might not be such a bad idea.
Dale Allen Pfeiffer: Smell the roses - suicidal tendencies
Now, as oil prices aim for the stratosphere, there is no talk of rationing, or even slowing down. But wait, someone is trying to start a grassroots movement to spur motorists to drive more sensibly and save. And the person who is spearheading this effort is none other than Jay Hanson, the man who established the dieoff.com website that first woke up most people to the idea of peak oil in the late 1990s and shortly after the turn of the century.
Beijing faces turmoil due to water crisis: Probe International
BEIJING (AFP) - Beijing's water crisis is so critical that the city is facing economic collapse and the need to resettle part of its population in coming decades, a leading development policy group said Friday. Experts predict the Chinese capital could run out of water in five to 10 years, according to Grainne Ryder, policy director at Canada-based Probe International.
The Era of Oil Wars
What is most disturbing of all is that the big powers, so far from seeking major adjustments of their energy policies on either the supply or demand fronts or making a major switch into renewables, are actually massively intensifying their competitive struggle short-term for the limited oil reserves left. Despite an unwinnable war in Iraq, the US is still constructing at least five large permanent military bases there in order, according to evidence given to a US Congressional Committee, to control access to Gulf oil, including in Saudi and Iran. As one neocon recently put it, "one of the reasons we had no exit plan from Iraq is that we didn't intend to leave". The US is also trying to force through a new Iraqi oil law that would give western, primarily American, oil multinationals control of Iraqi oilfields for the next 30 years.
Investment Bank Fortis Expects Complete Breakdown of the American Financial Markets Within Days or Weeks
RUSSEL/AMSTERDAM (DFT) - Fortis expects a complete breakdown of the American financial markets within days or weeks. This explains, according to the bank insurer, the series of interventions on Thursday with the aim of strengthening themselves by € 8 billion. "We are ready at the last moment. The U.S. is doing much worse than we had thought,” said Fortis chairman Maurice Lippens, who insists that CEO Votron shall not be replaced. Fortis expects bankruptcies of 6,000 U.S. banks that have low coverage. "But the same goes also for Citigroup and General Motors, and thereby starts a complete meltdown in the U.S.”
In a side note, you can purchase Treasuries direct from the US government, and that might not be such a bad idea.
Dale Allen Pfeiffer: Smell the roses - suicidal tendencies
Now, as oil prices aim for the stratosphere, there is no talk of rationing, or even slowing down. But wait, someone is trying to start a grassroots movement to spur motorists to drive more sensibly and save. And the person who is spearheading this effort is none other than Jay Hanson, the man who established the dieoff.com website that first woke up most people to the idea of peak oil in the late 1990s and shortly after the turn of the century.
Beijing faces turmoil due to water crisis: Probe International
BEIJING (AFP) - Beijing's water crisis is so critical that the city is facing economic collapse and the need to resettle part of its population in coming decades, a leading development policy group said Friday. Experts predict the Chinese capital could run out of water in five to 10 years, according to Grainne Ryder, policy director at Canada-based Probe International.
The Era of Oil Wars
What is most disturbing of all is that the big powers, so far from seeking major adjustments of their energy policies on either the supply or demand fronts or making a major switch into renewables, are actually massively intensifying their competitive struggle short-term for the limited oil reserves left. Despite an unwinnable war in Iraq, the US is still constructing at least five large permanent military bases there in order, according to evidence given to a US Congressional Committee, to control access to Gulf oil, including in Saudi and Iran. As one neocon recently put it, "one of the reasons we had no exit plan from Iraq is that we didn't intend to leave". The US is also trying to force through a new Iraqi oil law that would give western, primarily American, oil multinationals control of Iraqi oilfields for the next 30 years.
Check out my new gold and energy blog at MoneyAndMarkets.com
posted by Sean Brodrick @ 6:22 PM
<< Home