Freedman had a piece this morning I liked. He sites the reason for the Arab Spring as being global warming. The summers of 2009 - 2011 saw multiple and in some cases sustained drought and heat induced crop failures in China, Russia, Australia, Canada, USA, and Syria. Grain prices skyrocketed as the middle east nations are for the most part unable to feed themselves, rely on imports, which became oppressively expensive, people are spending 25 to 35% of their wealth on food, while developed nations spend 8 to 12%.
Climbing grain prices in these countries put stress on the economy, and society, resulting in exactly what the US military, the Germans, and other nations predicted. Climate induced collapse of governments and rule of law. In Syria a localized and devastating drought in the last 3 years destroyed agriculture in some regions at the cost of wiping out 800,000 families wealth.
Hunger and descent into poverty was the gasoline of the mideast revolutions.
______and elsewhere in the news--------
My neighbors, the Koch brothers now have 34 billion each, rank 6 and 7 worlds richest. Overall the billionaires of the world gained another 3% of the worlds wealth this year.
The stock market hit another all time high today, it's gone up over 200% since Obama took office, corporate profits are at an all time high, the rich pay less tax than ever, union busting marches on - yet, the rich wring their jeweled hands they can't succeed due to rules, regulations, OSHA, EPA, oh it's just awful how this nation treats it's wealthy patriots.
Reality is growth is nearly flat, the reasons are listed above, when all the money flows to a few corporations and people, when main street is shut down by the wallmarts and budwisers, real and durable growth at a human and neighborhood level may be impossible.
Damned good post!
ReplyDeleteOh, snowing hard here in Evansville but not sticking yet. Maybe 2 inches in the morning.
Ron