Friday, July 15, 2011

When Black Friday comes...



"WASHINGTON (AP) — With time growing short and warnings more dire, the first, fragile signs emerged Thursday of a possible compromise to raise the nation's debt limit and avert a potentially catastrophic default on Aug. 2.

"Under a plan discussed by the Senate's top two leaders, President Barack Obama would receive enhanced authority to raise the debt ceiling at the same time procedures would be set in motion that could lead to federal spending cuts..."





The deal is this.

In 1911, Winston Churchill negotiated a method of leasing oil rights from nomadic tribesmen who lived in the deserts of the Arabian Peninsula, Mesopotamia and what was known in ancient times as Persia - Iraq and Iran.

It is estimated that these areas hold the largest part of the world's reserves of petroleum.

Petroleum production peaked in 1971. That came as no surprise. Experts predicted that in 1949.

Now, the world is facing hard times, as bad as those conditions during the Great Depression which started with a worldwide banking collapse in 1929.

But there is a difference.



In those years, people could grow as much food as they could harvest. With 85% of the population living on 15% of the land, that is no longer a reality.

To produce each calorie of commercially marketed food, it requires the expenditure of 10 calories of hydrocarbon fossil fuel used to fertilize, plant, cultivate, harvest, process and transport crops.

That's what they mean when they use the term "sustainable."

What do you mean when you say it? What does it make you think when you hear it?

Liberal, schmiberal. Conservative, conschmerative.

We talking survival these days.

-The Legendary

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