Canadians research zombie attacks TG Daily (hat tip reader John D). I wonder if this study can be applied to zombie banks.
Listening to the Big Bang Starts With a Bang (hat tip reader John D)
Great Barrier Reef Said to Face Catastrophic Damage Bloomberg (hat tip DoctoRx). We’ve written about this before, and John Quiggin has provided good (as in depressing) updates.
Fears for Indian tiger after Chinese green light for sale of animal products
Credit Risk – Global Corporate Rating Activity According to Fitch, First-Half 2009 Risk Center (hat tip reader John O)
Prices Rise 7% Nationwide, Says Clear Capital Housing Wire
Calculating the Clunkers’ Real Cost to Taxpayers Ryan Chittum
BP discovers ‘giant’ oil field deep beneath waters of the Mexican Gulf Independent
Morgan Stanley, Moody’s, S&P must defend fraud claims Reuters
US debt markets showing signs of improved health Financial Times
Mtg.Bankers Assn. Proposal: D.O.A. Bruce Krasting
SEC bungled Madoff probes, agency watchdog says Associated Press
Antidote du jour:
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Re BP: It’s strange how the bar for a “giant” find keeps being lowered..
I remember just a few years ago when Jack 2 was supposed to have 15GB, and that was all the rage. Since then they’ve downgraded that projection just a bit….
And today, just a few years later,3-4GB is trumpeted as a spectacular number. (And that’s the hyped best-case number, no doubt, which will also end up coming down…)
(Even that’s just a few weeks’ worth of the world’s oil consumption, and they expect to recover only 10-20% of that.)
Do you remember the E-N-O-R-M-O-U-S find a few years ago off Brazil?
Housing prices up q on q? Debt markets doing better (with government aid)?
Where are the propaganda alerts?
Nice to have the site back up.
Articles like the Australian Barrier Reef one are annoying. It is quite clear reading the article that the big damage is coming from pollutants, sediments, and agricultural runoff due to man’s land use activities. Yet everybody wants to make everything to be linked to global warming and cabon dioxide.
The oceans are clearly alkaline with a typical pH of about 8 yet everybody keeps talking about them becoming more acidic as if they are vinegar.
Let’s focus on the real issues which have more today with agricultural policies than anything else. I am sure that the major agricultural players love the global warming stories becuae it takes the focus off of their activities and allows them to lobby for things like corn to be used to make ethanol. Another example of regulatory capture where we should be taking far more steps to address the agricutlrual pollution and water use issues but aren’t.
i stumbled onto BP’s press release:
http://www.bp.com/genericarticle.do?categoryId=2012968&contentId=7055818
“Appraisal will be required to determine the size and commerciality of the discovery.”
3 billion barrels of oil is a lot of oil, but it will cost a lot of money (and new high temp/high pressure technology) to get it out of the ground from nearly 7 miles under the ocean; estimates ive seen put the cost at $70-$80…at the end of the day, it’s still about the economics of these new finds; all the easy to get to oil has already been consumed…