Sky-High Oil Will Make U.S. Go Broke
Stratospheric crude oil prices precipitated by speculation are wreaking havoc on the U.S. economy.
Based on income tax withholdings data from the Daily Treasury Statement, the wages of all U.S. workers on payrolls were unchanged on a year-over-year basis in the past two weeks (Friday, June 6 through Thursday, June 19) and rose 1.1% year-over-year in the past four weeks (Friday, May 23 through Thursday, June 19). Both of those growth rates are well below the 2.8% year-over-year in May, and they are consistent with an economy that is contracting sharply. Read more
A Totally Lawless Regime
By PAUL CRAIG ROBERTS
Think about this question: In the 21st century what regime is more lawless than the Bush Regime?
Everyone is entitled to his own answer. The only answer I can come up with is the Zimbabwe regime of Robert Mugabe. Voted out of power in the last election, the great man hasn’t left. Zimbabweans are going to have to vote again, and the great man has said that any vote that is not for him will be cancelled by a bullet.
Does anyone remember how determined the British and the Americans and everyone else was to turn Rhodesia over to Mugabe in order to save Rhodesia from the evil Ian Smith? What a fool everyone was. Read more
FYI. IMO, it would be foolhardy for us Kiwis to believe ourselves to be immune from similar experiences.
Rapid Unraveling And The Demise Of Adolescent America Carolyn Baker
23 May 2008
Well here it is folks – the great unraveling so many of us have been forecasting during the past five years as we’ve read the tea leaves and researched the unprecedented convergence of myriad natural, political, economic, and environmental realities. As most of you know, I’m traveling, yes on the road, across this country. I was going to wait until arriving at my final destination before writing about my experience, but with oil rapidly heading for $200 a barrel, it feels important to do so sooner rather than later because our lives have just changed more dramatically than we can imagine, and we will only be able to comprehend to what extent as the repercussions of the end of the age of oil reverberate through what is left of industrial civilization.
We’re # 1!
A Nation of Firsts Arms the World
By Frida Berrigan
They don’t call us the sole superpower for nothing. Paul Wolfowitz might be looking for a new job right now, but the term he used to describe the pervasiveness of U.S. might back when he was a mere deputy secretary of defense — hyperpower — still fits the bill.
Face it, the United States is a proud nation of firsts. Among them:
First in Oil Consumption:
The United States burns up 20.7 million barrels per day, the equivalent of the oil consumption of China, Japan, Germany, Russia, and India combined.
First in Carbon Dioxide Emissions:
Each year, world polluters pump 24,126,416,000 metric tons of carbon dioxide (CO2) into the environment. The United States and its territories are responsible for 5.8 billion metric tons of this, more than China (3.3 billion), Russia (1.4 billion) and India (1.2 billion) combined.