Archive for the 'Collapse' Category
Foreclosed Homes Occupied by Homeless
February 21st, 2008Via: Houston Chronicle: The nation’s foreclosure crisis has led to a painful irony for homeless people: On any given night they are outnumbered in some cities by vacant houses, and some street people are taking advantage of the opportunity by becoming squatters. Foreclosed homes often have an advantage over boarded-up and dilapidated houses abandoned because […]
World’s Largest Maker of Crop Nutrients: Famines May Occur Without Record Harvests
February 20th, 2008“In 2008, food could become an out front national security issue in the developed world.” —Cryptogon, Some Guesses About 2008 I don’t know what I have to do to make this clear to people, or how many times I have to say it… I hope you guys get it. Via: Bloomberg: Grain farmers will need […]
Rand Sinks as South African Electricity Grid Fails
February 12th, 2008Via: Bloomberg: Gold is above $900 an ounce and platinum has never been higher, yet traders are selling the South African rand faster than any other major currency because President Thabo Mbeki can’t keep the lights on. The rand is down 12 percent this year against the dollar, six times more than the next-worst performer […]
Poor Haitians Resort to Eating Dirt
January 30th, 2008Via: AP: It was lunchtime in one of Haiti’s worst slums, and Charlene Dumas was eating mud. With food prices rising, Haiti’s poorest can’t afford even a daily plate of rice, and some take desperate measures to fill their bellies. Charlene, 16 with a 1-month-old son, has come to rely on a traditional Haitian remedy […]
Is This the End of Cheap Food?
January 21st, 2008Via: Guardian: ‘It’s going to be interesting,’ says James Walton, chief economist with the food retail industry’s education body, IDG. ‘UK shoppers aged under 50 have so far never experienced food-price inflation.’ Essentially, throughout most Britons’ lifetimes, food has become cheaper. But, in December, the inflation rate (by the government’s preferred consumer price index, the […]
PAKISTANI TROOPS ESCORT WHEAT TRUCKS
January 14th, 2008What do you get when you multiply the perfect storm in the grain markets with a state on the brink of failure? Pakistan. And don’t forget the nukes. Via: Reuters: Pakistani paramilitary troops have begun escorting trucks carrying wheat to stop supplies being stolen amid shortages of flour that have inflamed anger against the government […]
Soybeans Soar to Record, Grains Rally as Demand Erodes Supply
January 14th, 2008WARNING: This is not a recommendation to buy, sell or hold any financial instrument. Corn, wheat and soybeans were all limit up on Friday. I almost fell out of my chair when I saw the one day gain on PowerShares DB Agriculture (DBA). It was up 5.65% at $36.45. You may remember that I put […]
Cities Holding Lenders Accountable for Foreclosure Aftermath
January 10th, 2008Via: Business Week: On Dec. 17 in a windowless Buffalo courtroom, Cindy T. Cooper, a prosecutor for the city, buzzes among a dozen men in suits, cutting deals. “You’ve got to unboard [the house], go in, and clean it out,” she tells one. “If all the repairs are done quickly, I wouldn’t ask for any […]
Forget Oil, the New Global Crisis is Food
January 4th, 2008“In 2008, food could become a out front national security issue in the developed world. My top concerns are wheat and corn. For hundreds of millions of people, especially in America and Europe, this will translate into higher food costs across the board.” —Cryptogon, Some Guesses About 2008 “PowerShares DB Agriculture Fund (DBA) NOTE: I […]
Japan to Increase Emergency Stockpiles of Grains
January 4th, 2008Via: Bloomberg: Japan, the world’s biggest grain importer, plans to increase emergency stockpiles of corn, wheat and soybeans next year to ensure stable supplies at a time of soaring global prices, the Yomiuri newspaper reported. The country plans to boost reserves, including privately held inventories, to three months of annual demand in 2009 from one […]
