Friday, May 07, 2010

Dow Record Plunge; Bank Record Default Risk; Oil Spill Desperate Measure

From Jenna Orkin

Headlines
Record plunge in Dow stokes market panic
US markets plunge amid debt fears
Contagion fears go global
Are France and Germany in Trouble?
Sea of Red in Asia as Debt Fears Escalate
Bank Default Risk Soars to Record; Credit-Default Swaps Beat Lehman Crisis
Black Swan in Computer Trading? Nasdaq to Cancel Some Trades; Plunge Raises Alarm on Computerized Trading
Citigroup Trading Error Cause Market To Crash? Citigroup Says No

Oil Leak
Deepwater Horizon First Hand Account
Oil Spill Desperate Measure
The headline of this CNN article refers simply to BP's "unprecedented engineering feat to stop oil spill." The truth lies in the URL: Oil-spill-desperate-measure.
Leaked Report: Government Fears Oil Spill Could Become Unchecked Gusher (April 30)
Despite Plan, Not a Single Fire Boom on Hand on Gulf Coast at Time of Spill
Video Shows Federal Officials Knew Quickly of Potential for Massive Oil Flow in Gulf Spill
Cover-Up (Wayne Madsen)
While much of this article is based on disclosures from anonymous sources, the following seems eminently reliable:

"With hurricane season in effect, there is a potential for ocean oil to be picked up by hurricane-driven rains and dropped into fresh water lakes and rivers, far from the ocean, thus adding to the pollution of water supplies and eco-systems."
Troops Set Up Wall in Water to Hold Back Oil
Expert Recommends Killing Oil-Soaked Birds
Congress Members Bet on Fall in Stocks
Oil found off Falklands
Iceland Volcano to Emit Large New Cloud

Economy/World
Moody's Very Likely to Downgrade Portugal
Opinion: Eyewitness slams bank management after 3 workers die in fire
Burma: Suu Kyi's Party Disbanded
UK Hung Parliament Chaos Set To Reign Through The Weekend
Crisis-Stricken Russians Nostalgic for Stalin
South African police foil extremist plot to bomb townships

Terror/Intelligence
White House Denies Reports of Spy Planes Over NYC
Pentagon Turns to Brain Implants to Repair Damaged Minds
Happy Cinco de Mayo, Arizona

Environment/Science
How China and India Sabotaged the UN Climate Summit (Spiegel)
US carbon emissions down record 7 percent in 2009
NASA: Meteorites from Mars Contain Ancient Fossils
One baby with syphilis born every hour in China: US research

And...
Neanderthal Genome Shows Most Humans Are Cavemen
White People Masks for Arizona Immigrants

10 comments:

Weaseldog said...

On the article about CO2 emissions being down 7%, with unemployment due to take another leg down, we should do even better in 2010!

Uhm, I guess that's not all positive news...

On the CollapseNet feedback... I'll try to offer something this weekend. I still haven't seen the video. I can't watch them at the office.

Van said...

Transocean has ALREADY received $401M insurance payment for the "accidental" loss of Deepwater Horizon.

http://www.chron.com/disp/story.mpl/business/deepwaterhorizon/6991453.html

Insurance fire, anyone? They know Peak Oil is here, they havent been ordering new rigs, and they've had a good decade run with this billion dollar behemoth. A half-billion dollar cashout would be a smart move.

Pablo said...

Firstly, not sure if this is the right place, but I just wanna say thank you to Michael, and all involved in this blog for opening my eyes. It's my daily news feed now, and has been since I saw the film a few months ago.


Secondly, the Greece situation is sadly a great warning to the rest of the world (and to me personally) the potential problem of debt at both a personal and national level... But of course, you lovely readers of this blog already knew that!

KEEP UP THE GREAT WORK!!!

Vic-chick said...

I would just like to extend my thanks to everyone who makes this blog possible. I would like to contribute, just need to know how. I feel like I'm waiting for the other shoe to drop. It really feels like everything is about to topple. Just waiting to see what crumbles first.

Jon said...

I just wanted to say I love this blog. I check it daily.

However, I am very disappointed about it ending for a pay-per-view web site. Research has shown that people won't pay for news online.

If collapse is around the corner, why worry about making a few bucks in the process? If you believe what you write, dollars will be worthless.

The belief you have secret knowledge is the corner stone of cult mind set.

Sebastian Ernst Ronin said...

Re "South African police foil extremist plot."

Yep, and I've got a bridge for sale in Brooklyn...cheap...never been used.

hawlkeye said...

Well, all the worst cases keep boggling my brain...

Of course a hurricane will show up and blast that crap all over creation, is that really the worst of it?

I hope some scientist type who knows better will quell my freak-out, but while storms are spewing our inheritance all over the southeast, could it be possible for lightning to ignite any of it in the atmosphere?

Raining fire-blobs is way too apocalyptic an image, so will someone please disabuse me of this notion...

Shit Hitting Fan Goes Quantum...

hawlkeye said...

Well, all the worst cases keep boggling my brain...

Of course a hurricane will show up and blast that crap all over creation, is that really the worst of it?

I hope some scientist type who knows better will quell my freak-out, but while storms are spewing our inheritance all over the southeast, could it be possible for lightning to ignite any of it in the atmosphere?

Raining fire-blobs is way too apocalyptic an image, so will someone please disabuse me of this notion...

Shit Hitting Fan Goes Quantum...

elite-proxy said...

It was addressed in a previous post about the new collapse net website. I think you'll find that some part of it will still be free. Someone else also touched on the topic of charging and I believe that some very valid points were raised. However, let's take a good look at what is coming. Will it be a sudden crash and boom and it is all over? Of course not. It is going to be a very long and painful decline. This decline will again provide an opportunity for people to cash in on something. The oil is just not going to suddenly dry up and magically be gone. I don't see any need for people to worry about a sudden end. I'd like to help but honestly what can be done? We all need money. That is why I see nothing wrong with collapse net at least having a paid and free section. It is great to have a website like this, but I honestly believe there is very little chance anything will change. We are all along for the ride regardless if you can see where it is going. That doesn't mean I believe there is nothing we can do, but the best I can hope for is that I make myself aware of what is coming and be ready for the painful changes that will be necessary.

Mitchell said...

Jon

With due respect you're being quite shallow in the way you apply your assumptions about "pay per view" sites to this blog.

You say you read the blog daily. Have you seen this post?

SCREW RETIREMENT -- I'M BACK

Mike's goal is not to "make a few bucks" off collapse. He needs to earn money to eat and keep a roof over his head, just like most of us. Do you work for free?

As a beta tester for Collapsenet I can tell you that the site is much more than this blog. Its most critical feature is providing tools to locate and connect with other people in your neighborhood. Think social networking for people who "get" Peak Oil.

In addition, it's my understanding that the news content of the site will be made publicly available 30 days after it's posted - so it will still be freely available after a delay.

I'm not trying to convince you of anything, just giving you and others with this view some food for thought.