Is the recession over or is the economic downturn just beginning? Barack Obama and the Federal Reserve have been busy proclaiming that the U.S. economy is back on track, but the sad truth is that our economic problems look like they are about to get a whole lot worse. Without oil, our entire economy would shut down cold. Thanks to the chaos in the Middle East, oil is absolutely exploding in price. In fact, the price of oil in the United States went up more than seven dollars today. The global price of food has risen to record levels over the past 12 months and it is projected to continue to rapidly increase throughout all of 2011. This is going to hit struggling families all over the globe very hard. Meanwhile, thousands of manufacturing facilities and millions of good jobs continue to flee the United States. The gap between the wealth that we consume as a nation and the wealth that we produce as a nation continues to grow. We have attempted to fill this gap with asset sales and with massive amounts of debt, but that is a game that cannot last forever. When we come to the end of every single month, we are poorer as a nation and we are deeper in debt as a nation. From “sea to shining sea” we have become a nation that is flooded with red ink. (Read More...)
Oil
47 Statistics That Indicate That Economic Stress Points In 2011 Could Be Setting The Stage For A Global Economic Meltdown In 2012
Is the world approaching a devastating global economic meltdown? Right now there are a large number of factors that are creating economic stress points all over the globe. All of the crazy money printing that the Federal Reserve and other central banks have been doing is putting inflationary pressure on agricultural commodities, oil and precious metals. Massive floods, horrific droughts and extreme weather patterns all over the globe are ruining crops and creating food shortages. Some nations are now actually hoarding food, and in other nations rising prices have sparked food riots. The price of oil has been moving back towards $100 a barrel, and if it stays at a high level for an extended period of time that is going to have very serious consequences for the global economy. In addition, the growing sovereign debt crisis could erupt again at any time. Half a dozen nations in Europe are on the verge of insolvency, Japan’s national debt is now well over 200 percent of GDP, and the global financial system is growing increasingly concerned about the exploding national debt of the United States. The truth is that the entire world financial system is a house of cards balanced on a razor’s edge and it could come down at any time. (Read More...)
9 Signs That The Price Of Oil In 2011 Will Soar Well Beyond 100 Dollars A Barrel
Will we see the price of oil rise significantly in 2011? Unfortunately, that appears to be precisely where we are headed. Despite stubbornly high unemployment and a very sluggish economy in the United States, the price of oil continues to creep upward. Part of it can be attributed to the fact that the U.S. dollar and other major currencies are continuing to lose value relative to all commodities, and part of it can be attributed to the continuing rise in the global demand for oil. But those factors alone do not explain what we are seeing. Expectations are a very powerful thing, especially for financial markets, and right now there is an overwhelming consensus that oil prices are going to rise in 2011. The big oil companies, the big oil exporting nations and the big investment banks are nearly all in agreement that a higher price for oil is coming and the speculators smell money and are starting to jump on to the bandwagon. (Read More...)
The Price Of Oil Is Going Up, The Price Of Food Is Going Up And Now Here Comes Quantitative Easing
Millions of American families are about to be broadsided by rising gas and food prices and most of them don’t even realize it. You see, most Americans stop listening when terms such as “quantitative easing” and “agricultural commodities” are brought up, but when millions more Americans are faced with a choice of either feeding their families or heating their homes this winter, maybe then they will start listening. Even before the Federal Reserve announced the latest round of quantitative easing, the price of oil has been going up and the price of food has been going up. Now that the Federal Reserve has announced plans to flood the economy with hundreds of billions more dollars, the inflation monster is going to get even hungrier. The household budgets of scores of American families are going to be stretched beyond the breaking point as prices rise. Meanwhile, the vast majority of U.S. employers will not be giving their workers raises to keep up with inflation. After all, why should they? If someone wants to quit there are hordes of unemployed Americans out there who would just love to take that job in a second. (Read More...)
Warning To Those Cleaning Up The Oil Spill In The Gulf Of Mexico: Most Of The Cleanup Crew Members From The 1989 Exxon Valdez Disaster Are Now Either Sick Or Dead
Are you sure that you want to help clean up the oil spill in the Gulf of Mexico? In a previous article we documented a number of the health dangers from this oil spill that many scientists are warning us of, and now it has been reported on CNN that the vast majority of those who worked to clean up the 1989 Exxon Valdez oil spill in Alaska are now either sick or dead. Yes, you read that correctly. Almost all of them are sick or dead. In fact, the expert that CNN had on said that the life expectancy for those who worked to clean up the Exxon Valdez oil spill is only about 51 years. Considering the fact that the oil spill in the Gulf of Mexico is now many times worse than the Exxon Valdez disaster, are you sure you want to volunteer to be on a cleanup crew down there? After all, the American Dream is not to make big bucks for a few months helping BP clean up their mess and then drop dead 20 or 30 years early. (Read More...)
Environmental Devastation In The Gulf Of Mexico: Dolphins Covered In Oil, Sea Turtles Burned Alive And Massive Underwater Dead Zones
It is hard to put into words the environmental devastation taking place in the Gulf of Mexico right now. Thousands upon thousands of sea creatures have died from the oil already, and the ultimate death toll could be in the millions. In addition, as BP uses “burn boxes” to burn off some of the oil floating on the surface of the Gulf, thousands more sea creatures are literally being burned alive. The tragedy is unspeakable. Not only that, but scientists are now warning that the massive amounts of methane escaping into the Gulf could potentially create massive underwater dead zones in which nothing can live. Meanwhile, massive amounts of oil are coating American coastlines and beaches. And unfortunately, all of this is just going to get even worse as more oil continues to gush violently into the Gulf of Mexico each day. It is like a really bad dream that we just can’t wake up from. (Read More...)
The Gulf Of Mexico Oil Spill Is Making A Lot Of People Really Sick
The Gulf of Mexico oil spill is already the worst environmental disaster in U.S. history, but what most people don’t know is that it is rapidly turning into a public health disaster of frightening proportions. Reports are scattered and mostly anecdotal at this point (as BP and the U.S. government try to keep a lid on information getting out), but it is becoming increasingly clear that the oil spill in the Gulf of Mexico and/or the chemical dispersants being used are making a lot of people sick. So far most of the reports have been about breathing difficulties, vomiting and various flu-like symptoms. But it is the health effects that will take a long time to show up that are the most concerning. For example, this oil spill has released massive amounts of benzene into the Gulf. Benzene actually enters human cells and damages DNA material. In fact, the Department of Health and Human Services tells us that exposure to benzene has been proven to cause leukemia. So are we about to see a massive wave of cancer sweep the Gulf coast? At this point nobody knows. What is becoming clear is that a whole lot of people are becoming ill. Several days ago, the state of Louisiana announced that 71 cases of oil spill-related illnesses had been reported to the Louisiana Department of Health and Hospitals up to that point. A significant number of those had not even been involved in any of the clean up efforts. But the cases of illness are most prominent among those involved in cleaning up the oil spill. CBS news has reported that more than 75 oil spill disaster workers have already been treated for mysterious symptoms. The most common symptoms being reported by oil spill disaster workers include vomiting, dizziness, headaches and shortness of breath. The wife of one fisherman who is involved in disaster relief efforts in the Gulf recently told CNN what her husband has been telling her about what is really going on out there…. “I received several calls from him saying, ‘This one’s hanging over the boat throwing up. This one says he’s dizzy, and he’s feeling faint. Everybody’s loading up their stuff, tying up their rigs and going back to the docks.'” Down in Texas, they are referring to these illnesses as “TILT” – Toxicant-Induced Loss of Tolerance. The following is an excerpt from a local news report out of San Antonio…. For weeks now, local hospitals have tracked patients with suspicious symptoms coming in from the gulf coast. Doctors are having trouble distinguishing it from the flu. “What makes it challenging is that patients show up with non-specific symptoms. Headaches, fatigue, problems with memory and concentration, upset stomach,” lists Dr. Claudia Miller at UT Health Science Center. So what in the world is causing all this? Nobody knows for certain yet. But if the smell of the oil on some Gulf beaches is already so strong that it burns your nostrils, then what in the world is this oil going to do to our health? Needless to say, this is a story that the mainstream media needs to start following a lot more closely. One of our readers named Debra from Louisiana recently left a comment describing the breathing difficulties and headaches that she is now experiencing…. I live in Gretna, La just a little past the Huey P Long bridge. I have had headaches for several days now. I am also having trouble breathing like i am having a asthma episode. I don’t even have asthma. If it gets any worse i am going to the hospital. All i can say is someone needs to look into this seriously, The air smells like burning crayons (that is the best way to explain it). It has smelled like this for several days now. A reader named Stacy on our sister website recently posted a very alarming comment regarding what is happening in her area down in Florida…. We live in the navarre, florida area and in the past week almost every family we know has had vomiting and diarreha. This could just be anecdotal – maybe we just have a stomach bug circulating, but it is strange. We had a huge storm the week before it happened that blew in from the gulf so who knows. Also, the city of destin, florida has taken it upon themselves to close the destin pass with their own purchased boom and barges. This is an elite destination and they are not waiting around for bp and their hired prison workers to clean the beaches. Apparently, the coast guard was at the meeting and told the locals that they will face criminal prosecution, but they don’t care. They are protecting their million dollar properties. Another commenter from Louisiana named Joe says that everyone in his family is dealing with these kinds of health issues right now…. We live near Hammond, LA which is some 60 miles NORTH of New Orleans, LA. For the past two to three weeks we have been having mild flu like symptoms. I hardly never get sick but cannot get ride of a runny nose and a constant headache that only goes away when I leave this area (heading North). My entire family has the same problems as well as many of our friends in the area. The most frightening thing is that nobody knows exactly what we are dealing with here. Are there any other factors other than all the oil that is causing all of these health issues? Are these illnesses being caused by the extremely high levels of methane that scientists have detected in the Gulf of Mexico? Are the 1 million gallons of dispersal agents such as Corexit 9500 and Corexit 9527 that BP has poured into the Gulf to blame? Are people becoming sick due to all the hydrogen sulfide and benzene being released by the oil spill? Considering the fact that exposure to benzene has been proven to cause leukemia, it is imperative that we get some answers sooner rather than later. And unfortunately, the threat from this oil spill is only going to continue to grow. The truth is that this is not just an “oil leak”. This is an “oil volcano” that is pumping out oil at such high pressure that BP is totally at a loss for how to stop it. In fact, BP’s Chief Operating Officer Doug Suttles recently told CNN that BP’s data indicates that BP can’t cap the leaking oil, or it might cause the well casing to blow out. So when will this oil volcano be stopped? Nobody knows. Meanwhile, at least one industry expert is estimating that the oil beneath the surface of the water already covers 40% of the Gulf of Mexico. 40% of the Gulf of Mexico? And it is still getting worse? It is hard to even find the words to describe how horrific this nightmare is becoming. If you live along the Gulf coast and you know of some health issues where you live, please leave a comment below. Hopefully if we all work together we can start to piece the facts together about this very dangerous health crisis…. (Read More...)
Is The Gulf Of Mexico Oil Spill Going To Kill The American Dream For Millions Of Americans?
As BP works feverishly to contain the massive oil spill in the Gulf of Mexico, many are now coming to the realization that this will be the most economically painful environmental disaster in U.S. history. The oil spill in the Gulf is already larger than the entire state of Florida, and it creeps closer to the Gulf Coast with each passing hour. According to official estimates, approximately 5,000 barrels a day are leaking into the Gulf, but outside groups working with satellite-imagery claim that the leak is at least five times that amount. In fact, John Amos, a geologist who heads an environmental group called SkyTruth estimates that the leak is actually 26,500 barrels a day. As oil continues to pour into the Gulf at a frightening pace, large numbers of Americans who depend on the Gulf of Mexico for their economic survival are wondering what is going to happen next. Is the Gulf of Mexico oil spill going to kill the American Dream for millions of Americans? (Read More...)