Daily Digest 3/25 - Ax Falls On Euro Public Financing, Petroleum Movements In N. America, West TX Facing Water Restrictions
- View From Abroad: U.S. Facing Woes, But Still No. 1
- The Atlantic Magazine's Disgraceful Bernanke/Fed Propaganda (And Why You Shouldn't Buy It)
- In Europe, Where Art Is Life, Ax Falls on Public Financing
- Syria Continues Drive to Retake Rebel Strongholds as Diplomacy Suffers a Setback
- MF Global’s Corzine Ordered Funds Transferred, Memo Says
- Inter-Regional Trade Movements of Petroleum in North America
- While The U.S. Moves Toward Energy Independence...
- Push Comes to Shove Over Water Restrictions
- Both Coasts Watch Closely as San Francisco Faces Erosion
Abroad, foreign policy experts are following this discussion with a mix of bemusement and concern. A dozen of them, in nine countries on five continents, shared their thoughts with The Associated Press — agreeing that the U.S. stands alone as a global superpower, yet perceiving an array of weaknesses that could undermine its stature as numerous emerging powers seek a bigger role on the world stage.
I don’t know what has happened to Lowenstein. His book on the collapse of hedge fund Long Term Capital Management, When Genius Failed, is a terrific piece of reporting. People I know who were on the inside of the LTCM rescue negotiations give his account high marks. But he has increasingly fallen into the role of scrivener for powerful interests, when his previous standards of writing and his knowledge of the finance beat says he must, on some level, know what he is doing.
“It is putting a pretty serious crimp in international exchanges, especially with smaller companies,” said Mark Russell, artistic director of Under the Radar. “It’s a very frustrating environment we’re in right now, tight in part because of our own crash, but more generally because it seems to me now that every time we get around to the international question, we have a meltdown and go back to zero.”
An activist in Turkey, who goes by the name Menhal and who recently fled Saraqeb, said people in the town reached by phone said it was bombarded by tank fire. “The situation is horrible,” he said by telephone. “I don’t know what more to say. They are looting stores and destroying them, burning houses, and there are many wounded people, and God, many wounded kids, many wounded kids.”
“On the afternoon of Friday, October 28, MF Global transferred $200 million from a segregated customer account at JPMC to cover a $175 million overdraft in one of MF Global’s JPMC accounts in London,” the memo says. “Ms. O’Brien wrote in an e-mail that the transfer was ‘Per JC’s [Jon Corzine’s] direct instructions’.”
Inter-Regional Trade Movements of Petroleum in North America (Crash_Watcher)
North America is a large importer of petroleum, but there are signs that its absolute imports peaked around 2005-2007, and imports are in decline. In 2000 and 2010 North America imported about 24% and 19% of the total global import/export supply pool, respectively; by 2021, this is predicted to be down to about 16%. Over the last decade, North America's chief suppliers of petroleum have changed in order of importance, from South America, the Middle East and Africa in 2000, to Africa South America and the Middle East in 2010. If the last decade's trends continue, then by 2021, North America's main suppliers will be Africa, the Former Soviet Union countries and South America, in that order.
The nation’s reliance on foreign oil has fallen sharply since 2005, when imports made up 60 percent of the liquid fuel used. A surge of new domestic production and a decline in consumption has transformed the United States’ energy outlook.
Tensions have been high in a groundwater conservation district where some farmers reliant on the Ogallala Aquifer are fighting to maintain their right to pump unrestricted amounts of water.
The question facing at least eight local, state and federal agencies boils down to this: With California officials expecting climate change to raise sea levels here by 14 inches by 2050, should herculean efforts be made to preserve the beach, the pipe and the plant, or should the community simply bow to nature?
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