...for they are few and we are many....
Those of you who have read my blog from way-back know that I have long prophesied a looming serious economic downturn. 2008 will be the start of a global depression, one much worse than what happened in the 1930's (back then, 40% of the people were rural and knew how to grow crops in their back yards...plus, the country had alot more social capital). Enormous debt, lack of oversight, apathy, and deliberate sabotage-these factors will combine to destroy the American economy and whats left of the middle class.
A nearly valueless dollar means that America is in foreclosure, we are for sale to wealthier (and perfidious) foreigners. Decades of bad trade policies,deficit spending, outsourcing, and runaway immigration (de-industrialization) have taken their toll.We are being transformed into a giant plantation/sweatshop.
As the price of oil rises, it will end the current agricultural business model (Growing on a large corporate farm, loading the goods on a truck and driving a thousand miles to market-this will be untenable very soon) Hyperinflation will eat up our middle class, and spit out a 100 million coolies. Federal Reserve Chairman Bernake (and Greenspan ) should be in prison, busting rocks. Low interest rates created the housing bubble, and currently the low rates are partly responsible for sinking the dollar.
Several reasons for the current food inflation: high gas costs, conversion of corn into ethanol, more people on the planet generally, plus more numerous middle classes in Malaysia, India, China....they demand better, and beefier, food. Droughts worldwide are producing poor harvests...
The Food Cartels will make out like bandits-for now . (Cargill= 20% of all wheat production. Louis Dreyfus= about 20%...Archer Daniel Midlands...almost 20%)
A new fungus- Ug99- has just appeared on the scene (first discovered in 1999 in Uganda).Winds are blowing its spores into Iran and Pakistan from the Persian Gulf and the horn of Africa. The worlds current wheat varieties have no immunity to this fungus. (This is a stem rust fungus-these have been with us all along- in 1954, 40% of our spring wheat crop was destroyed by stem rust fungus. But we subsequently developed resistant forms of wheat)...Now, this new stem rust fungus-(Ug99)- can attack wheat with impunity-there is no resistance -and scientists estimate that it will take at least five years to devise new resistant varieties of wheat. But this particular fungus might sweep the entire planet within the next three years (it attacks barley,too). A recent cyclone swept spores from Yemen into Iran. If this fungus takes hold in India....What we are faced with is the real threat of a planetary famine-food riots in the US are not out of the question- already people are rioting in Mexico, Indonesia, several African states....After the initial success of the Green revolution in the 1960's....Food is now becoming scarce.
Basically, what happened this weekend was this: The Feds are trying to bail out their frat boy-country club buddies, the cretin graduates from Princeton, Harvard, and Yale... who devised bogus financial instruments, and generally speculate; and are now overextended and now hold too much debt. By lowing interest rates and creating easy credit, the Fed hopes to save their class; yet they are destroying the dollar, thus jacking up gas/food costs...eroding the position of middle Americans...The global elites just don't care-their loyalty is to money and corporations, and not to any nation-state. If people stop buying products in one country, the slack can be taken up elsewhere. This is part of the scheme of finance speculative capitalism, as opposed to healthy productive capitalism... Only the elites may have made a fatal miscalculation, being blinded by short-term greed-their grand children will pay the price. Tyranny cannot endure eternally... they shall reap the whirlwind.
A nearly valueless dollar means that America is in foreclosure, we are for sale to wealthier (and perfidious) foreigners. Decades of bad trade policies,deficit spending, outsourcing, and runaway immigration (de-industrialization) have taken their toll.We are being transformed into a giant plantation/sweatshop.
As the price of oil rises, it will end the current agricultural business model (Growing on a large corporate farm, loading the goods on a truck and driving a thousand miles to market-this will be untenable very soon) Hyperinflation will eat up our middle class, and spit out a 100 million coolies. Federal Reserve Chairman Bernake (and Greenspan ) should be in prison, busting rocks. Low interest rates created the housing bubble, and currently the low rates are partly responsible for sinking the dollar.
Several reasons for the current food inflation: high gas costs, conversion of corn into ethanol, more people on the planet generally, plus more numerous middle classes in Malaysia, India, China....they demand better, and beefier, food. Droughts worldwide are producing poor harvests...
The Food Cartels will make out like bandits-for now . (Cargill= 20% of all wheat production. Louis Dreyfus= about 20%...Archer Daniel Midlands...almost 20%)
A new fungus- Ug99- has just appeared on the scene (first discovered in 1999 in Uganda).Winds are blowing its spores into Iran and Pakistan from the Persian Gulf and the horn of Africa. The worlds current wheat varieties have no immunity to this fungus. (This is a stem rust fungus-these have been with us all along- in 1954, 40% of our spring wheat crop was destroyed by stem rust fungus. But we subsequently developed resistant forms of wheat)...Now, this new stem rust fungus-(Ug99)- can attack wheat with impunity-there is no resistance -and scientists estimate that it will take at least five years to devise new resistant varieties of wheat. But this particular fungus might sweep the entire planet within the next three years (it attacks barley,too). A recent cyclone swept spores from Yemen into Iran. If this fungus takes hold in India....What we are faced with is the real threat of a planetary famine-food riots in the US are not out of the question- already people are rioting in Mexico, Indonesia, several African states....After the initial success of the Green revolution in the 1960's....Food is now becoming scarce.
Basically, what happened this weekend was this: The Feds are trying to bail out their frat boy-country club buddies, the cretin graduates from Princeton, Harvard, and Yale... who devised bogus financial instruments, and generally speculate; and are now overextended and now hold too much debt. By lowing interest rates and creating easy credit, the Fed hopes to save their class; yet they are destroying the dollar, thus jacking up gas/food costs...eroding the position of middle Americans...The global elites just don't care-their loyalty is to money and corporations, and not to any nation-state. If people stop buying products in one country, the slack can be taken up elsewhere. This is part of the scheme of finance speculative capitalism, as opposed to healthy productive capitalism... Only the elites may have made a fatal miscalculation, being blinded by short-term greed-their grand children will pay the price. Tyranny cannot endure eternally... they shall reap the whirlwind.
posted by Zero at 2:45 PM
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