Wednesday, October 7, 2009

SHTF Scenario: Asteroid Impact

Eric Berger discusses a recent "war-game" scenario and why the government is completely unprepared to deal with such a disaster here.

More Bad Economic News: Gird Thy Loins

Those who pay attention have seen this coming for awhile, and now it's actually starting to crop up in the news: The commercial real estate market is staring down the same sort of financial fallout from bad lending practices that the residential market dealt with last year. And unfortunately, it appears that the lenders did not learn from their mistakes:

Commercial Real Estate: The Coming Storm

Le sigh.

Tuesday, October 6, 2009

Arab States Ditching Dollar for Oil Sales?

From FoxNews: Gulf States Deny Secret Plan to Dump Dollar

The world's oil producers will continue using the U.S. dollar as the currency for buying and selling crude, high-ranking oil and finance officials in the Gulf said on Tuesday, denying a report in a British newspaper.

Earlier, The Independent reported that Gulf Arab states, as well as China, Russia, Japan and France, are in secret talks to end the use of the U.S. dollar to trade oil, causing the American currency to fall in overseas trading Tuesday. ...


Click the link above to read the rest of the article.

Friday, October 2, 2009

What am I up to?

I know I've been quiet lately. I'm still around, it's just that I have switched from a phase where I was hell-bent on prepping as quickly as possible, to a phase where most of the things that can be immediately done, have been done. Now, I'm just watching and waiting and tweaking things here and there.

Behind the scenes, I'm still working on eliminating debt and improving my finances, networking with like-minded people, and slowly increasing my food storage. I'm closely monitoring the current utter failure of the Obama administration to deal with Iran (see the post just before this one) and the stock market, which appears to be entering a perilous time. I'm also considering pulling my accounts out of Bank of America and switching them to a local, more stable bank.

It feels like the calm before the storm.

Krauthammer Punctures Obama's Posturing, Once Again

It's so good that I've posted the entirety of his editorial below:

Obama's French Lesson
by Charles Krauthammer

"President Obama, I support the Americans' outstretched hand. But what did the international community gain from these offers of dialogue? Nothing."
-- French President Nicolas Sarkozy, Sept. 24


When France chides you for appeasement, you know you're scraping bottom. Just how low we've sunk was demonstrated by the Obama administration's satisfaction when Russia's president said of Iran, after meeting President Obama at the United Nations, that "sanctions are seldom productive, but they are sometimes inevitable."

You see? The Obama magic. Engagement works. Russia is on board. Except that, as The Post inconveniently pointed out, President Dmitry Medvedev said the same thing a week earlier, and the real power in Russia, Vladimir Putin, had changed not at all in his opposition to additional sanctions. And just to make things clear, when Iran then brazenly test-fired offensive missiles, Russia reacted by declaring that this newest provocation did not warrant the imposition of tougher sanctions.

Do the tally. In return for selling out Poland and the Czech Republic by unilaterally abrogating a missile-defense security arrangement that Russia had demanded be abrogated, we get from Russia . . . what? An oblique hint, of possible support, for unspecified sanctions, grudgingly offered and of dubious authority -- and, in any case, leading nowhere because the Chinese have remained resolute against any Security Council sanctions.

Confusing ends and means, the Obama administration strives mightily for shows of allied unity, good feeling and pious concern about Iran's nuclear program -- whereas the real objective is stopping that program. This feel-good posturing is worse than useless, because all the time spent achieving gestures is precious time granted Iran to finish its race to acquire the bomb.

Don't take it from me. Take it from Sarkozy, who could not conceal his astonishment at Obama's naivete. On Sept. 24, Obama ostentatiously presided over the Security Council. With 14 heads of state (or government) at the table, with an American president at the chair for the first time ever, with every news camera in the world trained on the meeting, it would garner unprecedented worldwide attention.

Unknown to the world, Obama had in his pocket explosive revelations about an illegal uranium enrichment facility that the Iranians had been hiding near Qom. The French and the British were urging him to use this most dramatic of settings to stun the world with the revelation and to call for immediate action.

Obama refused. Not only did he say nothing about it, but, reports the Wall Street Journal (citing Le Monde), Sarkozy was forced to scrap the Qom section of his speech. Obama held the news until a day later -- in Pittsburgh. I've got nothing against Pittsburgh (site of the G-20 summit), but a stacked-with-world-leaders Security Council chamber it is not.

Why forgo the opportunity? Because Obama wanted the Security Council meeting to be about his own dream of a nuclear-free world. The president, reports the New York Times citing "White House officials," did not want to "dilute" his disarmament resolution "by diverting to Iran."
Diversion? It's the most serious security issue in the world. A diversion from what? From a worthless U.N. disarmament resolution?

Yes. And from Obama's star turn as planetary visionary: "The administration told the French," reports the Wall Street Journal, "that it didn't want to 'spoil the image of success' for Mr. Obama's debut at the U.N."

Image? Success? Sarkozy could hardly contain himself. At the council table, with Obama at the chair, he reminded Obama that "we live in a real world, not a virtual world."

He explained: "President Obama has even said, 'I dream of a world without [nuclear weapons].' Yet before our very eyes, two countries are currently doing the exact opposite."

Sarkozy's unspoken words? "And yet, sacré bleu, he's sitting on Qom!"

At the time, we had no idea what Sarkozy was fuming about. Now we do. Although he could hardly have been surprised by Obama's fecklessness. After all, just a day earlier in addressing the General Assembly, Obama actually said, "No one nation can . . . dominate another nation." That adolescent mindlessness was followed with the declaration that "alignments of nations rooted in the cleavages of a long-gone Cold War" in fact "make no sense in an interconnected world." NATO, our alliances with Japan and South Korea, our umbrella over Taiwan, are senseless? What do our allies think when they hear such nonsense?

Bismarck is said to have said: "There is a providence that protects idiots, drunkards, children, and the United States of America." Bismarck never saw Obama at the U.N. Sarkozy did.