Daily Digest

Daily Digest - May 1

Friday, May 1, 2009, 9:54 AM
  • Truly, Truly Great Journalists Here, Stewart, Moyers & Marshall (Audio, Good Point on Blogs BTW)
  • Budget Cut (Video Visulization, H/T Coyote-Smiles)
  • Metro Unemployment: Some Cities See Rates Comparable to Great Depression
  • Google's Unemployment Tool - Pick a City (Chart - Interactive)
  • Another Incredible Ineractive Map (H/T Scbt, Green to Red in 2008)
  • Google's Flu Tool - Track A(H1N1)
  • Swine Flu will Finish this Economy. Prepare!
  • Are the Markets Too Complacent About Swine Flu?
  • 1918 Spanish Flu and the Market
  • Dr. Ron Paul (Video)
  • Mexico Plans Partial Shutdown to Reduce Spread of Swine Flu
  • Milken Conference: Credit Markets and the Role of Finance (Video)
  • Entering the Financial Twilight Zone
  • Chrysler: bulls make money, bears make money, pigs get slaughtered 
  • Education And The Future of Technology (Video, H/T Todd)

Economy

Truly, Truly Great Journalists Here (Audio, Good Point on Blogs BTW)

Budget Cut (Video Visulization, H/T Coyote-Smiles)

Metro Unemployment: Some Cities See Rates Comparable to Great Depression 

The highest was in El Centro, Calif., where unemployment stood at 25.1 percent – as bad as the national average during the depths of the Great Depression in 1933. Also faring poorly were Merced, Calif., with 20.4 percent, Yuba City, Calif., with 19.5 percent, and Goshen, Ind., with 18.8 percent.

Google's Unemployment Tool - Pick a City (Chart - Interactive)

Another Incredible Ineractive Map (H/T Scbt, Green to Red in 2008)

Google's Flu Tool - Track A(H1N1)

Swine Flu will Finish this Economy. Prepare! 

Economists remember well the financial damage the SARS outbreak inflicted in 2003. An epidemic of that scale or greater could inflict severe damage on a global economy already badly listing.

Are the Markets Too Complacent About Swine Flu? 

The WHO has designated swine flu an "imminent" pandemic, and raised its alert to a level 5 out of a possible 6. The World Bank guesstimates the cost of a severe pandemic at 4.8% of world GDP (yikes!). Yet the US had a very nice day for equity investors yesterday, and the Japanese stockmarket is up handsomely as of this hour. What gives?

The usually dour Ambrose-Evans-Pritchard argues yes, in reporting that is less apocalyptic than his normal style, argues that investors are underestimating the possible repercussions:
Over the last couple of days I have been deluged by notes from City analysts and economists suggesting that H1N1 avian-swine flu poses no great threat to the global economy because the authorities showed during the 2003 SARS epidemic in Asia that outbreaks can be contained.

This is a misreading of the threat we face.

SARS is a coronavirus. It is extremely hard to catch. Just 8,000 people were infected worldwide during the entire epidemic (10pc died).

Today's H1N1 outbreak is an influenza virus, which is far more contagious.

Dr. Keiji Fukuda, the WHO's assistant director-general, said it is already too late to stop the spread of the disease. “At this time, containment is not a feasible option.

It is entirely possible that we may see a very mild pandemic. I think we have to be mindful and respectful of the fact that influenza moves in ways we cannot predict.

The worst pandemic of the 20th century occurred in 1918, and it also started out as a relatively mild pandemic that wasn’t very much noticed in most places. Then in time it became a very severe pandemic, one of the most severe infectious disease episodes ever recorded.

Perhaps because so few market players studied science, or have a current link to science, they seem not to realize that the world’s virologists and flu experts are in a state of nail-biting, ashen-faced, fear.

Rob Carnell, chief economist at ING, is one of the exceptions. “We believe fear of infection will lead to drastically altered behaviour. It may be that swine flu does not tip the human fear scale sufficiently, but if it did, with the economy already in tatters, the results could be catastrophic,” he said in a note today.

We may be lucky. The virus may indeed prove mild - like the Hong Kong flu in 1968 - or burn out altogether as it mutates.

The early cases in the US and Canada give hope. So does the apparent fall-off in the fatality rates in Mexico.

But as Dr Fukuda said, nobody can pre-judge the virulence of this pandemic. Least of all the markets.

Mexico City illustrates what can happen. People are avoiding discretionary outings. As the BBC reports:

Dr. Ron Paul (Video)

1918 Spanish Flu and the Market 

The 1918 Spanish Flu was a global flu pandemic that affected nearly half of the world's population at the time (or up to one billion people). The 1918 outbreak was the worst of the 20th century, and it fell under the H1N1 virus subtype, which is the same subtype as the current swine flu outbreak. It's estimated that the 1918 flu killed anywhere from 20 million to 100 million people, which would have equaled a mortality rate of 2.5%-5% of those infected.

The 2009 swine flu is still new to the public, but it is beginning to stoke fear since 152 people have died from it in Mexico as of now. The current swine flu is nowhere near as bad as the 1918 flu pandemic, but we thought we'd look at what the US stock market did during that outbreak period. Below we have grabbed a chart from a CDC article on the 1918 Influenza that highlights deaths per 1,000 people infected with influenza and/or pneumonia, and overlayed a chart of the Dow Jones Industrial Average.

Mexico Plans Partial Shutdown to Reduce Spread of Swine Flu

April 30 (Bloomberg) -- Mexican officials said the federal government will suspend all non-essential services and urged businesses to close to reduce the risk of spreading swine flu.

“For many families, the measures taken have involved a sacrifice,” President Felipe Calderon said in a nationally televised address. “It is worth it if we can protect the health of our own.”

Lab tests have shown eight deaths caused by the virus out of 99 confirmed cases of infection, up from seven and 49 respectively at the previous count, Health Minister Jose Cordova told reporters late yesterday in Mexico City. Cordova said there were 17 new deaths from suspected swine flu, raising the total to 176.

The World Health Organization warned yesterday that the first influenza pandemic since 1968 is “imminent” and urged stepped-up preparations after swine flu was confirmed by lab tests in at least nine countries and 11 U.S. states. The WHO raised the level of its six-tier alert system to 5, indicating little time remains for countries to complete emergency plans.

The outbreak in Mexico may cut gross domestic product by 0.3 percent to 0.5 percent, though the impact should be short- lived, Finance Minister Agustin Carstens said at the same news conference. While the situation is serious, Mexico’s health system has the capacity to handle the situation, Cordova said.

Non-essential government activities will be suspended from May 1 to May 5 in an effort to reduce the chance of workers and the public spreading disease. The central bank and other financial-related services, as well as state-owned oil company Petroleos Mexicanos, will continue to operate as usual.

Oil Meeting

Officials from the oil company will meet today to discuss what non-essential operations can be suspended, spokesman Carlos Ramirez said in a phone interview.

All “substantial operations” will continue as usual including refining, production and gasoline stations, he said.

Milken Conference: Credit Markets and the Role of Finance (Video)

Entering the Financial Twilight Zone

Following today's news that the Federal Reserve opted against expanding its program of buying Treasurys, government bond yields jumped, pushing the "big figure" on the five, 10, and 30-year benchmarks above the psychologically important two, three, and four percent levels.

Some might find it ironic -- or surreal, perhaps -- that the ostensible reason for today's rise in yields was the fact that one arm of our government was not going to boost purchases of the rapidly expanding supply of paper being produced by another arm of our government.

Yet that is likely to be only one of the many distortions we can expect to see in the months and years ahead as Washington moves whole hog into the realm of the financial twilight zone. In "How Government Guaranteed Bank Debt May CRUSH Public Borrowing," Clusterstock details another perverse outcome in the making.

Chrysler: bulls make money, bears make money, pigs get slaughtered

Here’s how I see things playing out for some major constituencies.

Auto Workers. There will likely be massive job losses here. Let’s see what Obama does regarding funding the newly-insolvent company to prevent more job losses. The dealer network will be cut back significantly, so the job losses will not necessarily be concentrated in Detroit.
Shareholders. They will get nothing. They will be replaced by the unions (new majority owners in deal with Administration), the government, and Fiat (if the deal goes through) Bond holders. They are going to get stuffed..big time. It is a case where they should say, “I fought the law and the law won.” End of story.

CDS insurance writers. Get ready for major pain. If bond holders are getting screwed, you know the companies who guaranteed credit default swaps (CDS) are not going to be very happy here. Question: are bond holders playing chicken because they have insurance? If so, you can consider the CDS writers another negotiating party that did not get a seat at the table and are going to be left holding the bag - a reason to want some major changes in how the CDS market is run.

General Motors. This is a dry run for them. Now, they have a chance to see how things play out for Chrysler and use this as leverage to say, “see, you don’t want to hold out on us. Look at Chrysler.” But, again, the CDS insurance problem may be at play in bondholder negotiations.
Fiat. This is good for Fiat. Chrysler will be cheaper now and this also gives them more leverage over Opel and Vauxhall in those negotiations. On that score, it is a net loss for GM, which owns those two European subsidiaries.

Chrysler retirees. They are going to take it on the chin. I guarantee you there will be pain felt in Chapter 11 for the pension fund. Chrysler can pull an airline maneuver and slough off some of the pension income and health care liabilities too. The unions have already made large concessions here, so perhaps this will be less of a factor.

A good article to read in all this is “Exploring the New Corporate Bankruptcy Strategy” on the PBS Frontline website.

Education And The Future of Technology (Video, H/T Todd)

21 Comments

jerry_lee's picture
jerry_lee
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exponential times

There's a million reasons for every rhyme

Exponential times!

Up or down, I cannot keep

Sideways dimensions in my sleep

Exponential times!

maveri's picture
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Re: Daily Digest - May 1

The budget cut video is a classic - what a great way to represent just what a shame of an exercise they are undertaking.

It's true what the video presenter said - that we do have difficultly understanding the enormous numbers being used.

While I think he's a sensationalist, I also like some of Glenn Becks visuals too.

EDIT:

Here's what Australian parlimentaries say when it comes to question time. It happened a while back but I thought I'd add it here for the humour value - we could all do with a laugh nwo and again...

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Re: Daily Digest - May 1

Hey Jerry, I live in Lancaster, CA. What a qwinky dink.

I particularly liked the videos in todays post. Good music in the Exponential Times.

 

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jerry_lee
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Lancaster Universe

SPM said,

 Jerry, I live in Lancaster, CA. What a qwinky dink.

I say... due to the power of the exponential function, we will ALL be living in Lancaster soon.

Mike Pilat's picture
Mike Pilat
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Re: Daily Digest - May 1

I found so many headlines today that seem to indicate desperate efforts to reinflate. Thankfully, Chris has provided us with another round of debunking in his latest report. As far as I can tell, there are basically no gross fundamental reasons (forget about net) whatsoever for the market rally of the past two months. I wonder how much longer Wall Street will try to reinflate before taking the market back down and further concentrating the wealth in this country...

Some headlines and article titles from today (I wouldn't waste much time reading the actual articles):

Oil Rises as Confidence, Manufacturing Reports Signal Recession Is Easing (Bloomberg)

U.S. Manufacturing, Confidence Reach Seven-Month Highs in Sign of Recovery (Bloomberg)

Goldman's Cohen Says S&P 500 May Surge to 1,050 in Next Year on Valuations (Bloomberg)

Manufacturing rebound in the works (CNN Money)

Consumer sentiment soared in April (MSNBC)

I haven't taken the time to dive deep into these like Chris does, but I'm reasonable certain that I would meet with similar results.

Mike

 

 

 

 

One1776's picture
One1776
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S. California Home Destruction

These videos are very sobering. Humorously labeled "Extreme Home Makeover,  Depression Edition" it's not really funny to see. 5 parts in all so far. A must see!

1/5, 2/5, 3/5, 4/5, 5/5

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Re: Daily Digest - May 1

Thank you all for the daily information bread!

Just to add to that - and it would be interesting to hear your opinions about this:

http://www.blackouteurope.eu/

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joemanc
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Re: Daily Digest - May 1

From last week - Michelle Obama's garden angers Big-Ag:

Quote:

Mrs Obama started work on the kitchen garden with a gang of schoolchildren last month. Media coverage of the first White House food plot since Eleanor Roosevelt "dug for victory" in the Second World War garnered media coverage across the world.

But to the consernation of Big Ag, Mrs Obama has said the project will not use chemical products to tackle pests or give her plants a boost, the Times reports.

http://www.telegraph.co.uk/news/worldnews/northamerica/usa/michelle-obama/5204434/Michelle-Obamas-organic-garden-angers-US-farming-companies.html

I guess Obama won't be getting any campaign contributions from Big-Ag in 4 years!

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Re: Daily Digest - May 1

Another excellent "Daily Digest" (May 1) - and I really like the new look & format of the site.

 

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Re: Exponential times - What does it mean?

We are all going down the same plug hole.

Don

__________________________________

still ...
here  ...
still here
still here?

ccpetersmd's picture
ccpetersmd
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Re: Daily Digest - May 1

Here's a bit of good news on the employment front, at least here in humble Iowa:

http://www.press-citizen.com/article/20090501/NEWS01/905010324/1079


Iowa City tied for the lowest unemployment rate in the nation for the month of March, according to a U.S. Bureau of Labor Statistics report released Wednesday.

 

Iowa City and Houma Bayou Cane-Thibodaux, La., both had 3.6 percent unemployment, the lowest rate out of 372 metropolitan areas.  Closely following Iowa City was Ames at 3.7 percent.

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Re: Daily Digest - May 1

...and on the good news front :-) there is the report that Mexico officals believe that the Swine Flu isn't as aggressive as first thought.

Heading:

THE swine flu epidemic in Mexico is "not so aggressive" as initially feared, the Government as it gave a new confirmed toll of 15 dead and 328 people infected based on lab tests.

http://www.news.com.au/story/0,27574,25417218-23109,00.html

 

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Re: Daily Digest - May 1

Regina, welcome to the site.  Thanks for the link.  I hadn't heard anything about changes to the Internet in Europe.  This is very disturbing (although not surprising).

becky

Davos's picture
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Re: Daily Digest - May 1

 Hello Maveri:

That is good news. I'm at a quandary to understand why Mexico would close businesses and the federal government for 5 days if it was so benign though. Mexico Plans Partial Shutdown to Reduce Spread of Swine Flu

But in this day and age up is down and down is up - nothing makes sense anymore.

Nothing.

I also don't know why this PhD would say 200,000 cases were in Mexico and that we will have the same deaths that Mexico did once we get to that200,000  number....http://www.wpxi.com/video/19313969/index.html Then you look at his well done map http://maps.google.com/maps/ms?ie=UTF8&hl=en&t=p&msa=0&msid=106484775090296685271.0004681a37b713f6b5950&ll=32.639375,-110.390625&spn=15.738151,25.488281&z=5 and it doesn't have 200,000 cases.

I'm assuming because they thought many were just the run of the mill flu until as of recent. But who the heck knows in this day and age.

I know from reading "The Great Influenza" that wave 1 was considered to be just another mild run of the flu. http://books.google.com/books?id=BYsW6qTP0pMC&pg=RA1-PA446&lpg=RA1-PA446&dq=the+great+influenza+%2Bswine&source=bl&ots=NysWGKviqI&sig=7tB1VEHz8R4Si-h8Df8rJzTMOyo&hl=en#PPP1,M1

I'm pretty convinced that we won't know how this is going to play out until it is either a full blown mess or it just fizzles out.

It isn't a sure train wreck like the economy --- where a few geniuses in DC have dug a whole to China that no getting lucky on some lottery will save them now.

I am convinced that the window of oppertunity to contain it is well past the point of being closed. I'm also wondering if one gets infected now if they might be able to fight off any subsequent waves should they be of a similar genitic makeup.

One thing is for certain, I used to pitty my grandfolks for growing up when they did, bird flu, depression, 2 world wars. I used to think, man, glad I'll never have it like that. Hoooocoodanode?

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MORE ON THE SWINE FLU

http://www.wpxi.com/video/19313969/index.html

Here is a video from Dr. Henry Niman of ‘Recombinomics’ discussing the H1N1 flu. His projections are disturbing, to say the least.  This man appears very well qualified.  He provides good background and explains things in a way that I have not seen elsewhere.  Although the video is long it is well worth watching.  Very comprehensive.     

Davos's picture
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Re: Daily Digest - May 1

 Hello HuckleJohn:

Good watch indeed. Did you catch the 200k infections that I mention in the post above? What do you think is up with that? Take care

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Re: Daily Digest - May 1

Davos: Oops, I overlooked that you had already posted http://www.wpxi.com/video/19313969/index.html concerning the swine flu.  Anyway, I concur that it is a good source.

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Re: Daily Digest - May 1

 Hello HuckleJohn,

Just wondering, since you watched it and I value your opinion, what you made of the 200,000 infections in Mexico comment. Take care

CB's picture
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Re: Daily Digest - May 1

The weekend bank closure parade:

http://www.salon.com/wires/ap/business/2009/05/01/D97TQ2G80_bank_closures/index.html

Quote:

Business

Banks in Georgia, NJ, Utah shut by regulators

May 1st, 2009 | WASHINGTON -- Regulators shut down Silverton Bank in Georgia on Friday and set up a temporary government-controlled bank until a buyer can be found. Silverton, which operated as a sort of wholesale bank, fell victim to large losses on real estate construction and development loans, regulators said.

The federal Office of the Comptroller of the Currency closed Silverton Bank, based in Atlanta, and appointed the Federal Deposit Insurance Corp. as receiver. Silverton Bank had about $4.1 billion in assets and $3.3 billion in deposits as of May 1.

Also closed Friday was Citizens Community Bank in Ridgewood, N.J., and America West Bank in Layton, Utah.

Citizens Community Bank had roughly $45.1 million in assets and $43.7 million in deposits as of Dec. 31. Its deposits are being assumed by North Jersey Community Bank in Englewood Cliffs, and its sole office will reopen on Monday as a branch of that bank.

America West Bank had total assets of about $299.4 million and total deposits of $284.1 million. Logan, Utah-based Cache Valley Bank agreed to assume all of the deposits of the failed bank at a discount of $352,000. The three branches of America West will reopen on Monday as branches of Cache Valley Bank.

The three bank closings brought to 32 the number of bank failures this year in the U.S. That compares with 25 in all of last year and three in 2007.

The FDIC estimated that the cost to the deposit insurance fund from Silverton Bank's failure will be $1.3 billion -- the fourth-largest such loss since the financial crisis began felling banks last year.

The combined cost of the closings of Citizens Community Bank and America West Bank is an estimated $137.5 million.

The regulators have been shuttering failed banks and arranging the sale of their deposits and assets to other financial institutions. In the case of Silverton, however, a buyer couldn't be found, and the FDIC took the less usual step of creating a so-called "bridge bank." Agency officials said they expected it may continue in operation for around 60 to 90 days, though by law that could be extended for several years.

Silverton was a type of institution known as a correspondent bank and did not take deposits directly from the public or make loans to consumers. It provided services to around 1,400 client banks, such as credit-card operations, investments and loan purchases.

The FDIC said no "meaningful impact" on the client banks is expected from the creation of the new temporary bank, to be called Silverton Bridge Bank. The agency retained an institution named TIB-The Independent BankersBank, based in Irving, Texas, under contract to operate the new bank.

Around 400 institutions, mostly community banks, own stock in Silverton's holding company, Silverton Financial Services Inc., and they will take investment losses as a result.

Silverton had been one of about 20 so-called "bankers' banks" nationwide. They don't normally engage in lending for construction and development, FDIC officials said. But Silverton changed to a status as a commercial bank within the category, switching from being a state-chartered institution to one under Treasury Department supervision -- allowing it to branch into those lending activities.

........more......

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Re: Daily Digest - May 1
Davos wrote:

 Hello Maveri:

That is good news. I'm at a quandary to understand why Mexico would close businesses and the federal government for 5 days if it was so benign though. Mexico Plans Partial Shutdown to Reduce Spread of Swine Flu

But in this day and age up is down and down is up - nothing makes sense anymore.

Nothing.

I also don't know why this PhD would say 200,000 cases were in Mexico and that we will have the same deaths that Mexico did once we get to that200,000  number....http://www.wpxi.com/video/19313969/index.html Then you look at his well done map http://maps.google.com/maps/ms?ie=UTF8&hl=en&t=p&msa=0&msid=106484775090296685271.0004681a37b713f6b5950&ll=32.639375,-110.390625&spn=15.738151,25.488281&z=5 and it doesn't have 200,000 cases.

I'm assuming because they thought many were just the run of the mill flu until as of recent. But who the heck knows in this day and age.

I know from reading "The Great Influenza" that wave 1 was considered to be just another mild run of the flu. http://books.google.com/books?id=BYsW6qTP0pMC&pg=RA1-PA446&lpg=RA1-PA446&dq=the+great+influenza+%2Bswine&source=bl&ots=NysWGKviqI&sig=7tB1VEHz8R4Si-h8Df8rJzTMOyo&hl=en#PPP1,M1

I'm pretty convinced that we won't know how this is going to play out until it is either a full blown mess or it just fizzles out.

It isn't a sure train wreck like the economy --- where a few geniuses in DC have dug a whole to China that no getting lucky on some lottery will save them now.

I am convinced that the window of oppertunity to contain it is well past the point of being closed. I'm also wondering if one gets infected now if they might be able to fight off any subsequent waves should they be of a similar genitic makeup.

One thing is for certain, I used to pitty my grandfolks for growing up when they did, bird flu, depression, 2 world wars. I used to think, man, glad I'll never have it like that. Hoooocoodanode?

There are so many conflicting reports out there that I don't know which way to turn really.

I think that maybe we will see a change to the way WHO scales the severity of threats. I think some people are calling for this at least

I really have only skimmed the WHO severity levels but it seems to me they are focused on the actual spread rather than the severity of the infection? That's my layman's view of it at least.

The report implies that Mexico have only just found out that the flu is not as severe as first thought but it's highly contagious - It's one of those dammed if you report and dammed if you don't report type of situations. I'm glad it was not me making the call because there's always a backlash when things turn out not to be as sever as first thought.

The wise position to take I think is to be prepared for the worst and hope for the best and as you have said, we are really not going to know how this thing will play out until it's resolution either way.

Until the whole thing fizzles out completely is really the only time when we can take a sigh of relief.

Putting on my conspiracy hat - I wonder if governments are ramping up the fear factor to ready the populations for something - like peak oil? That's just a random thought thrown in there with no factual basis at all. I was just thinking wild things for a moment and I thought, if I was in power and I wanted to toughen the population for the years ahead for a radically different society based on less energy etc, then I too would start these unsettling phases to help ready the people for the years ahead - sinister aren't I :-)
Perhaps they are attempting to claw back some of the public confidence by showing them how they can tame a flu outbreak? My tin hat's nice and shiny today!

The Australian government yesterday apparently warned hospitals etc to be ready based on a report from a study that it commissioned in which it recommends the Australian population stockpile 14 days worth of food when the WHO enact a level 5 crisis. What's interesting is when the government was questioned over why it has not told the people about the stock piling recommendation since we are now at level 5, it said it didn't want to start a panic at the supermarkets! When people heard this they naturally ran out and started buying in bulk anyhow.

My concern is how little the government here in Australia is advising the people. They have had airport thermal screening cameras since 2006 but have not got around to having them installed yet - unbelievable. They were in action I think two days ago after a public outcry about them laying idle.

He he he - your comment about not growing up in times like your grandfather is sobering! I'm strangely excited about what's coming (not the flu) because I've had this gut feel for years that the current system we have is rotten to the core but I could never quantify it nor put a finger on it. My concern is that even after a massive reset, (I'm referring to a reset back to things that matter - not a reset back to the credit crap) somehow the banking elite are going to weasel their way in and create another scam system just as bad as what we have now because the majority of the population still have no idea why things are failing all around them - until that level of awareness is raised, they are prime candidates to be fleeced again and again and again.

I am slowing informing my young children that the years ahead are going to be very different and that people are going to have to be very studious with what they have and appreciate every little thing and not waste it. They are too young to really comprehend what's happening but it's a start. I also tell them that even though the world will be different it will be fill with lots of opportunities and friends :-)

I'm of the persuasion that a world more based on community is a better thing than the disconnected mess we have now anyhow - the Internet's great but rubbing shoulders with someone in the street and being part of their life including their ups and downs is far more rewarding - and that's coming from someone who has pretty much been a recluse. There's hope for the world as if I can change, then anyone can.

I was just scanning some old files that I have and saw an old movie "It's a wonderful life" and started watching it. Soon my kids were sitting down watching it too. They didn't understand many of the things that went on in the movie but I was able to infuse some of the main important bits. Funnily, my eldest asked "So what's the disaster?". When I asked them what they meant they said "You know - every movie has a disaster".
It reminded me of how the Athenian tragedy always unfolds.  It's a great old movie that hammers home the value of community and friends and also takes a swipe at the banking oligarchs too.
My curiosity got the better of me and I checked out what happened to the film studio that produced it - sadly, they didn't do well at all :-(

The movie may have some religious undertones that are too much for some, but I think when watched with an understanding of the times it was produced in and extracting the core values from it, it's still a great watch.I also skimmed 'Old Yeller' as well. I bet no movie maker today would have the balls to produce anything like Old Yeller today - too sinister but the truth is that life unfolds such things and tough decisions still have to be made. Hmmm - I see Monty Python's 'Life of Brian'' is in my listing too (I enjoy English comedy) - time to have a laugh I think...

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Re: Daily Digest - May 1

 Hello Maveri: I never met you, I don't know you but I'm sitting here reading that thinking, gosh, maybe we are related. Take care

 

PS That movie is one of my favorites, along with, well there is my facebook:

Favorite Movies: BigBlast From The PastIt's A Wonderful Life Favorite Books: Our TownTimequakeTravels With Charley

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