Water wars, fiscal deficits and investing in extinction

Posted on July 12, 2009 by stacyherbert| 58 Comments

Stacy Summary:  First, some info on guest confirmed for next On the Edge – we have Karl Denninger.   Next, here are the headlines I am reading this morning . . . when supply and demand gets ugly.

The Organisation for Economic Cooperation and Development has also made grim predictions about the state of Britain’s public finances. It is forecasting the fiscal deficit next year will climb to 14pc of GDP, higher than Ireland or Iceland, and the worst in the industrialised world.

Updates:

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58 Responses to Water wars, fiscal deficits and investing in extinction

  1. Mr Supergeek | July 12, 2009 at 3:08 am |

    @maxkeiser.com
    Stacy..Thanks for the headlines I will read these before getting the sunday papers…..Hope you are having a nice weekend….have a great sunday, and as always thanks for all the hard work.

  2. Mike/Liverpool | July 12, 2009 at 3:21 am |

    Just had Brown on telling us how VITAL it is that will kill lots of people in Afganistan or they might get pissed with us & try to kill us here in Britan.

    Mike

  4. Mother Earth | July 12, 2009 at 3:43 am |

    Waterwars indeed. Because everybody treats water like a depletable resource. Nobody thinks how profitable it can be to create freshwater sources, because the concrete maffia will exploit the need by designing multibillion dollar desalination plants as the only option.

    Those workers can be quite a bunch..I had two plumbers over to fix my kitchen sink (landlord send them after my request). They work for 40 minutes (frankly because they where bungling) and now I get a bill for 744,- Euro! Maybe my landlord let them do some other work or they are under pressure or in debt somewhere else. This financial nonsense is stoking organized crime!

  5. Mother Earth | July 12, 2009 at 4:03 am |

    @mike Funny video, but it takes the side against Arnold, while Arnold bucks would be a perfect solution for California to detach itself from the banksters..

  6. Scott from Oregon | July 12, 2009 at 4:35 am |

    You got Karl? ? ?

    Awesome!

  7. frances snoot | July 12, 2009 at 5:33 am |

    @Stacy:
    The bluefin article is Amazing. Could Mitsibushi be stocking fish for lean times ahead, not just the extinction of species threat? What a horror!

  8. frances snoot | July 12, 2009 at 5:35 am |

    No more sushi for me!

  9. frances snoot | July 12, 2009 at 5:43 am |

    @Mike/Liverpool:
    I downloaded my Arnoldbucks. Thanks!

  10. Phil | July 12, 2009 at 6:06 am |

    “Stop Complaining About Getting Fleeced.”

    Austrian School of Economics Is on the Rise

    http://seekingalpha.com/article/148262-austrian-school-of-economics-is-on-the-rise?source=email

    ;-)

  11. Mother Earth | July 12, 2009 at 6:32 am |

    I read reports about fishing boats being slave boats using africans. Here is several examples..

    http://blog.kievukraine.info/2006/01/ukraine-slaves-found-on-russian.html

    http://www.latimes.com/news/nationworld/nation/la-fg-ghana-slavery12-2009jul12,1,2806610.story

    http://www.flickr.com/photos/freetheslaves/28782358/

    http://www.guardianweekly.co.uk/?page=editorial&id=913&catID=6

    The idea that this mass extinction is ultimately perpetrated by slaves I think should open the eyes of people concerned about the income of these fisherman or the benign nature of the industry.

  12. sharon | July 12, 2009 at 6:48 am |

    Guys, check this out….brilliant. We need more people like this:-

    http://www.youtube.com/watch?v=EQLPkNhT0G0

  13. alister | July 12, 2009 at 7:34 am |

    hi people

    what book best impartially documents the economy of the Roman Empire and or other past empires etc…primarily interested in marco perspective but of course care to know all if possible….

    trying to cut the fat from the meat so any help would be appreciated

  14. Mike/Liverpool | July 12, 2009 at 7:46 am |

    If you look @ past empires as so as they debase their money, they finished.
    Mike

  15. Dedo | July 12, 2009 at 7:46 am |

    @Sharon,…..that guys becoming a bit of a star, do you know him?

  18. sharon | July 12, 2009 at 8:47 am |

    @ Dedo,
    I met him at a freeman conference I went to but I wouldn’t say I know him as such. Good on him I say. He got released at 10:00pm that night and was charged under section 5 public order act, not breach of the peace for which he was arrested originally. In other words the cop might as well have said: “Right, I’m arresting you but I’m not sure on what grounds until we get to the station so that I can look for something to pin on you.” Either way I think he’s got a good case for suing their asses off coz he didn’t break the law.

  19. Dedo | July 12, 2009 at 8:59 am |

    @Sharon,…….Like Youri and I discussed (sort of), to fight a beast, or more like,……hmm playing chess, both opponents are confined within the parameters of that particular game, most moves can and are accounted for.
    Maybe the trick is to move beyond the game without being detected.

  21. pg | July 12, 2009 at 9:08 am |

    mike/liverpool,,,,,,,,,,,,,,,,,,,,,you got that right !! pg

  22. DharmaBum | July 12, 2009 at 9:23 am |

    The agro giants and industry generally are the number one polluters and users of water. They must be destroyed.

  23. sharon | July 12, 2009 at 9:26 am |

    @ Dedo………………I fought the law and the law won.
    Great tune. But what if the law (written) says you are right and they still arrest and charge you, and the court ignores the written law as well? Big problems! So, imo we must all fight the law when their interpretation of the law is wrong. And the more that do the more likely we will succeed. It’s the same old, same old: we need the numbers to make a difference.

  24. Mother Earth | July 12, 2009 at 9:26 am |

    Who agrees with me that the notion of ‘government’ creates a false dichotomy that is massively exploited? I think any organization eventually becomes a tool to achieve another purpose, the better known, the earlier it is abused. The most secret organization will be most succesfull. That is why action is important, because what you do can not be undone.

    Russia and Ukraine banned gambling, Ukraine banned porn (and its posession) as well. Ukrain was in dire need of criminalizing porn to some extent. Now every man is a criminal ;-) These moves can also be seen as 1. Ways to fill the coffers though fines and confiscations, extending the police force etc. 2. As a trend of pushing sex tourism abroad, perhaps to the US.

  26. Youri Carma | July 12, 2009 at 9:30 am |

    Question to anyone:

    “Demand has been on the rise at U.S. debt sales, especially from indirect bidders. That investor class bought 43.9 percent of the 10-year notes, up from 34.2 at the June sale, and 54 percent of the three-year notes sold on July 7, compared with 43.8 percent in June. Indirect bidders bought 50.2 percent of the 30-year bonds sold July 9, the most since February 2006″

    Who are these so-called “indirect bidders”?

    FROM: Treasuries Rise for Week as Growth Outlook Spurs Safety Trade http://tinyurl.com/larybb

  27. Giuseppe Bagodonutti | July 12, 2009 at 9:30 am |

    @alister

    I’ve been finding this book that Max and Stacy recommended fascinating…
    it talks more about the history of TRADE through the centuries, but really, that is the MACRO-economy…

    A Splendid Exchange by William J. Bernstein

    I’ve been surprised to find how capitalist the early muslims were… they DOMINATED global trade for hundreds of years after the fall of the Roman Empire…

    or perhaps
    THE ASCENT OF MONEY by Niall Ferguson

    to which, I’ve only seen the vids (I think you can find them on Google Video)… I imagine the book goes into a bit more depth….

  28. Giuseppe Bagodonutti | July 12, 2009 at 9:37 am |

    @Youri

    perhaps it is the Primary Dealers…
    RBC was just named a Primary Dealer last week, so perhaps they are stocking up???
    although this Bloomberg article says it is “mostly foreign central banks”
    http://www.bloomberg.com/apps/news?pid=20601087&sid=auzrX0h.9DzY

  29. sharon | July 12, 2009 at 9:47 am |

    @ Giuseppe…………………..”I’ve been surprised to find how capitalist the early muslims were… they DOMINATED global trade for hundreds of years after the fall of the Roman Empire…”

    Did they practice usary though?

  30. stacyherbert | July 12, 2009 at 9:47 am |

    @Giuseppe – yes, that’s what I felt reading the book; we (our Western govts) come across as very silly while reading this book – just for the vast length of time that free trade has been going for literally thousands of years; it’s amazing, too, how much freer trade was under the Muslim run global trade empire (and it always revolves around trade, regardless of what Blair, Bono & Geldof say about good intentions). But the arrival of the Europeans, notably Portugal, began the era of modern trade that we know which is linked with colonialism and suppression of the local population unlike what you saw with, for example, Alexander the Great or Genghis Khan who, while also doing their fair share of violence, pillaging and killing, integrated with the local population quickly as trade was better suited in conditions of peace. At the end of the day, it always seems to be about controlling the trade routes to whatever commodity is irrationally desired at that point (then it was frankincense and myrrh, then Indian spices and now oil), so the US violence in the Middle East and military bases around the pipelines fits in with a three thousand year history of such behaviour on the part of empires. Of course, propaganda has never been so advanced so it wasn’t so confusing in history as to the intentions of the dominant power securing control of the trade routes.

  31. Phil | July 12, 2009 at 9:51 am |

    @Water in Iran

    Just a quicky …
    In a few books I’ve read ( can’t remember which ones ), it was mentioned that controlling Iraq meant controlling Iran’s water supply ( Tigris & Euphrates ).

    FWIW

  32. Youri Carma | July 12, 2009 at 9:52 am |

    @Giuseppe Bagodonutti

    Most afraid that these “indirect bidders” are the special FED vehicles acting like an independent parties while in fact belonging to the same Brotherhood money circle just pumping money around in the system to skim of fees and bonusses.

    This seems to be the main reason why these banks are saving themselves “at any cost” like the BIS during WOII said while the World economy is suffering.

  33. M | July 12, 2009 at 9:55 am |

    @Phil

    [i]

    @Water in Iran

    Just a quicky …
    In a few books I’ve read ( can’t remember which ones ), it was mentioned that controlling Iraq meant controlling Iran’s water supply ( Tigris & Euphrates ).

    FWIW[/i]

    Interesting indeed

  34. Youri Carma | July 12, 2009 at 10:01 am |

    Here a good example how these people make mony by Medicine and spreading virusses, millions of dollars of Vaccin have been bought by many countries around the world. Figure out for uorself what revenues are made and by whom?

    “All Britons could be vaccinated against the A/H1N1 flu as the number of confirmed cases in Britain is moving closer toward 10,000, health authorities said Sunday. ” http://tinyurl.com/nnscbg

  35. Youri Carma | July 12, 2009 at 10:06 am |

    About all this drie and die, Prince of Orange from the Netherlands has chosen water as his focus sort of. This guy sits on Bilderberg meeting tables not suprisingly cause Grandpa Prince Bernhard was one of the founders of that meeting which first was held in the Bilderberger Hotel.

    So, they knew it would be water trouble. Wouldn’t be surprised if the weather control had anything to do with it.

  36. Mother Earth | July 12, 2009 at 10:21 am |

    @Youri But of course our country is well drenched and world renouned for its water control expertise ;-) Iran simply has to form a development pact with bangladesh in return for shipping some of its abundant freshwater water back to the gulf..

  37. Youri Carma | July 12, 2009 at 10:22 am |

    China’s Ethnic Fault Lines http://tinyurl.com/krr6s5

  38. Giuseppe Bagodonutti | July 12, 2009 at 10:25 am |

    @Sharon

    RE: usury

    It seems they didn’t, but they charged trade taxes at varying levels depending on how “converted” you were to their beliefs…
    (I think it was 3% for the converted, 6% for accepted residents, and 10% for foreign traders)

    @Stacy

    I’m just getting into the part about Vasco deGama & the Black Plague…
    the part about trading Caucasian mamluk slave-warriors for Cinnamon and Cloves was another eye-opener…
    And how the slaves could rise in status to become rulers…
    They really had some advanced social and financial systems back then…
    AND ALL WITHOUT THE NEED FOR BANKS!!!!

    @Youri

    You could be right… perhaps it’s like market-makers creating the illusion of liquidity on the stocks, so as to fool the retail investors to get into the mix ?

  39. david | July 12, 2009 at 10:34 am |

    @ Alister, I found Edward Gibbons The Decline and Fall of the Roman Empire very informative albeit a tad dry, you’ll want to read the unabridged version (3 vols) as these contain all the salacious bits. I’m about a third way through Georges Lefebvre’s The French Revolution, excellent, and after that I’ve got Eric Hobsbawm’s The Age of Capital which from a cursory glance appears to be well researched and well written.

  40. david | July 12, 2009 at 10:35 am |

    P.S. keep up the good work M&S

  41. Giuseppe Bagodonutti | July 12, 2009 at 10:45 am |

    @sharon

    Correction
    it was 2.5% for the converted
    5% for the dhimmi (resident Christians and Jews)
    10% for the rest…

  42. sharon | July 12, 2009 at 10:49 am |

    @ Phil…………….it was mentioned that controlling Iraq meant controlling Iran’s water supply ( Tigris & Euphrates ).

    Same with Israel, many of their conflicts have been to do with water, eg Golan Heights. Apparantly they are now literally living in shit due to the aquifiers being compromised. Shame!

  43. Phil | July 12, 2009 at 10:55 am |

    @Sharon .. “Water”

    IIRC , Turkey holds the rights to water usage ( and interference ). The Tigris and Euphrates affects Syria, Israel and Iraq directly and Iran is at the tail end AFAIK.
    The book mentioned something about water projects and dams that could help irrigate the parts of Iran that are water starved.
    FWIW

  44. sharon | July 12, 2009 at 11:06 am |

    @ Phil,
    About the only thing Britain has going for it right now is an abundance of water – I hope! I think we do and even if we don’t there’s plenty of rain to catch.

  45. Palantíri | July 12, 2009 at 11:12 am |

    Rail staff face ‘smile police’
    http://news.bbc.co.uk/2/hi/asia-pacific/8146078.stm
    “A Japanese rail firm has introduced a system to check that staff are smiling enough at all times.”

    Be more robotic if you please!

  46. alister | July 12, 2009 at 11:15 am |

    @ David. thanks for the suggestions.

  47. alister | July 12, 2009 at 11:35 am |

    @ Giuseppe Bagodonutti. thanks for the suggestions. i’ll meet you half way. i just can’t seem to bring myself to drop money into the pockets of that ferguson fellow. the guys a slut, man.

  48. sharon | July 12, 2009 at 11:39 am |

    Re: the code theft from Goldman, thought you might be interested in this (it goes over my head to be honest):-

    Aleynikov’s code dump uncovered – and accessible

    http://goldismoney.info/forums/showthread.php?t=390342

  49. Mep | July 12, 2009 at 11:41 am |

    To complement Max & Stacy’s comments in their last show about hunger . . .

    Hunger in America: http://www.pbs.org/moyers/journal/07032009/watch2.html

    (For people interested in the intersection of faith, social justice, and the economic collapse, the other video on that page in which Moyers interviews Cornell West and colleagues is also very good.)

  50. Youri Carma | July 12, 2009 at 12:33 pm |

    The Six Million Dollar Man http://tinyurl.com/c6hhhg

  51. Youri Carma | July 12, 2009 at 12:44 pm |

    Swine flu vaccine to be given to entire population http://tinyurl.com/ktj7sa

  53. Palantíri | July 12, 2009 at 1:06 pm |

    French workers threaten to blow up factory
    http://www.reuters.com/article/rbssConsumerGoodsAndRetailNews/idUSLC42677020090712

    Effectively saying, if we don’t get anything, you (the owners) don’t get anything ether. admire the spirit

  54. Egan | July 12, 2009 at 2:45 pm |

    Very, very excited about Karl.
    You two really know how to pick em!

  55. David Ashley | July 12, 2009 at 9:15 pm |

    Karl Denninger? That jackass?

    Last I heard he hates gold bugs. And Max + Stacy are…? Gold bugs. Remember DOW:GOLD 1:1?

    Remember Max’s thesis? It’s millionaires VS billionaires? Denninger is a millionaire. He wants everything to just stay the same. He’s perfectly happy with the corruption, provided the dollar stays strong. He wants his million$ to retain their value. No rocking the boat for Denninger please.

    The dude is loathsome, to say the least.

  56. Gerry | July 13, 2009 at 12:16 am |

    @Indian water shortage

    Apparently with the snowcaps and glaciers receding, controlling the Himalayas is shping as the next big war. China-via-Tibet wants what’s left of it down their side – but the same source also feeds The Indus, Ganges and Brahmaputra.

    On a number of occasions Indian officals have said, under no circumstances can they allow these lifelines to fail… Both sides declare ecological priorities, but predictably they turn out to be different.

    Well sooner or later something has got to give…

    Everyone thinks the Indian arms escalation is against Pakistan, but Pakistan doesn’t hold anything like the cards China does.

    Who would stand to lose/win if the two Asian superpowers neutralised one another?

    We are watchging this one happen in slow motion just now.

  57. anything but green | July 13, 2009 at 1:06 am |

    Just to balance that tuna story:

    The Nikkei reports that the current recession is causing
    consumers to dramatically cut back on their consumption of
    tuna cuts, both in bars and at home. As a result, tuna
    wholesalers still have late 2008 stock in the freezers,
    unused and currently not salable. As a result, some of
    them are booking large valuation losses and thus incurring
    overall profit losses. Industry pundits are saying that the
    situation will take 1-2 years to right itself. ***Ed: In
    place of tuna, mackerel, octopus, and shrimp sales are
    booming — people still have to eat.** (Source: TT
    commentary from nikkei.co.jp, Jul 9,
    2009)

  58. Kent Paul | July 13, 2009 at 5:24 am |

    I looked up Lake Parishan on Google maps but the sattelite images are largely blanked out for that area?!?