tmac’s environmental blog
Articles relating to the 4 Horesmen, Peak Oil, Climate Change, Financial Meltdown, Food Scarcity
music i write with
People places things
I’ve been to over 42 Countries in my time, all the more poignant now Cheap Air Travel is a thing of the past. This is the Great Wall of China.
Apr 2008
Old Sail Boat, West Mersea
Aug 2007
Red Square, Moscow
Mar 2006
Thursday, 7 August 2008
From the Falls Church News Press www.fcnp.com
Written by Tom Whipple
Wednesday, 06 August 2008 12:53
As world oil production has never peaked before, there is no historical basis for making informed judgments as to what is going to happen.
All we know is that some six billion people, living in some 200 economies on this earth are soon going to be confronted with getting by on less than the 86 million barrels of oil per day (b/d) that we currently consume. The outcome of the interaction
Sunday, 27 July 2008
Peter Schiff on the Mortgage Bubble
Speech from 2006 predicting the sub prime collapse. This guy is compelling and appeals to me because of the his belief that the system failed due to the distortion of fundamental values. However, since he is active in shorting the market in sub prime (at the time), I think he fails to understand that he is in fac part of the system he derides...
however, I watched the first, then the second, third ...
I still fail to understand the
Wednesday, 23 July 2008
1. Paulson appears on Face The Nation and says "Our banking system is a safe and a sound one." If the banking system was safe and sound, everyone would know it (or at least think it). There would be no need to say it.
2. Paulson says the list of troubled banks "is a very manageable situation". The reality is there are 90 banks on the list of problem banks. Indymac was not one of them until a month before it collapsed. How many other banks will magically appear on the list a month before
2. Paulson says the list of troubled banks "is a very manageable situation". The reality is there are 90 banks on the list of problem banks. Indymac was not one of them until a month before it collapsed. How many other banks will magically appear on the list a month before
Tuesday, 22 July 2008
Lose the safety net and banks might find balance
By Paul Amery
Published: July 22 2008 19:59 | Last updated: July 22 2008 19:59
In 1964, Martin Luther King Jr spoke of “socialism for the rich and rugged free market capitalism for the poor” in the US. Nearly 50 years later, King’s first phrase might describe Britain’s finance industry, which our politicians and regulators are trying so desperately to prop up. From the failed rescue and nationalisation of Northern Rock, to the provision of extra funding and the swapping of illiquid mortgage
Monday, 21 July 2008
The global economy is at the point of maximum danger
By Ambrose Evans- Pritchard
Last Updated: 6:53am BST 21/07/2008
It feels like the summer of 1931. The world's two biggest financial institutions have had a heart attack. The global currency system is breaking down. The policy doctrines that got us into this mess are bankrupt. No world leader seems able to discern the problem, let alone forge a solution.
The International Monetary Fund has abdicated into schizophrenia. It has upgraded its 2008 world forecast from 3.7pc to 4.1pc growth,
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