Posts Tagged 'crisis'

Breakfast In Crisis – The Great Canadian Maple Syrup Heist

I just discovered that 60% of Canada’s Global Strategic Maple Syrup Reserve disappeared last year. Apparently, news of this was hushed up to prevent a panic (just kidding).

maplespillAccording to BusinessWeek On the morning of July 30, 2012, an accountant named Michel Gauvreau arrived at the Global Strategic Maple Syrup Reserve, housed in a huge red brick warehouse on the side of the Trans-Canadian Highway in Saint-Louis-de-Blandford, about two hours northeast of Montreal. Inside, baby-blue barrels of maple syrup were stacked six high in rows hundreds deep. Full, each barrel weighs about 620 pounds. With grade A syrup trading at about $32 per gallon, that adds up to $1,800 a barrel, approximately 13 times the price of crude oil.

He scaled a row of barrels and was nearing the top of the stack when one of them rocked with his weight. He nearly fell. Regaining his balance, he rattled the barrel: It was light because it was empty. He soon found others that were empty. After notifying the Federation’s leaders and returning with them to examine the stockpile, they unscrewed the cap on a full barrel. The liquid inside was not goopy, brown, or redolent with the wintry scent of vanilla, caramel, and childhood; it was thin, clear, and odorless. It was water. The Federation would need two months to tally the losses to the stockpile. Sixty percent, or 6 million pounds of syrup, had vanished, worth about $18 million wholesale.

Continue reading HERE or HERE

 

Google’s 2010 In Review [video]

Why I’m Giving Up Network News [pic]

Al Gore Sings To The Children About Global Warming [video]

Revenge Of The Neo-Hippies (Slackers)

This is an interesting opinion piece in The Boston Globe from David Scharfenberg.

slacker-smBut in retrospect, it’s clear that we did something right. We lived a smaller life, a life we could afford. And as the country rebuilds the economy, as it tries to replace it with something more sustainable than a leaning tower of subprime mortgages and consumer binging, it is time to reevaluate that much-maligned Gen X archetype: the American Slacker.

Read the entire piece HERE.

Good Economic News – World Bank Backs Dollar

Reuters reports –

“I think the dollar will remain the principal reserve currency.”

And added a warning to the new U.S. administration –

“Given the important role the U.S. dollar plays in the global financial system, it is incumbent upon the United States to pursue sound economic, fiscal and monetary policies.” he said.

I hope they are listening. Read the Reuters article.

Banking Crisis – Looking Back 10 Years

This NY Times page from 1999 outlines the start of the banking crisis, when the deregulation became law. Senator Byron L. Dorgan, Democrat of North Dakota, eerily said ”I think we will look back in 10 years’ time and say we should not have done this …”  While Mr.Dorgan could not have been more correct, Barney Frank could not have been more wrong. Mr.Frank said that the deregulation did not go far enough. (see page 2) Incredibly, Barney Frank is still in the middle of the mess in Congress. If it is time to clean house in the financial institutions, it should also be time to clean out the Congressional garbage that deregulated them.

Read the NY Times article.

Dilbert Explains the Credit Crisis

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The Lockhorns

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Time Cover – 10 Years Ago

Time magazine’s cover from Feb. 15, 1999. Click image to super-size it.

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Can’t Live On $500K Salary?

beggar2 I wiped the tears from my eyes just long enough to post this link.  The article explains the incredible hardship that a $500,000 salary cap would create for the Wall Street types. Perhaps we can start a charity for these poor souls. I can send a small portion from my unemployment check. Please read the article and thank god you are not in their shoes.

Royal Bank of Scotland to Pay £1 Billion In Bonuses

It seems that it isn’t only the US executives that are completely out of touch with reality. The UK is also infested with the same vermin.

The Telegraph reports –

“The Royal Bank of Scotland (RBS) is proposing to pay close to £1 billion in bonuses to its staff, just months after it was rescued by a £20 billion taxpayer bail-out, The Sunday Telegraph can reveal. ”

Read MORE.


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