- BOND EXPERT GUNDLACH: HOUSING COLLAPSE TO SPARK SECOND FINANCIAL MELTDOWN
“The housing market is dropping . . . and about to go to a new low," he tells CNBC. "I think we're looking at some type of echo in the credit crisis coming up here. That's what I'm afraid of." “There is very little, if any, good news about housing,” David Blitzer, chairman of the Case-Shiller index committee at S&P, said in a statement accompanying the latest report. “The 20-city composite is within a hair’s breadth of a double-dip.” Read more: Bond Expert Gundlach: Housing Collapse to Spark Second Financial Meltdown
From Guardian UK: http://www.guardian.co.uk/
European dry spell and commodities speculation combine to push up average cereal costs by 71% to record levels. Food prices are expected to hit new highs in the coming weeks, tightening the squeeze on UK households and potentially triggering further unrest in developing countries unless there is heavy rainfall across drought-affected Europe, the United Nations has warned. With the dry spell forecast to continue for several weeks across Europe, Abdolreza Abbassian, senior grains economist at the FAO, said: "Europe is entering a very critical month. We can't do without rain any more. If the current situation continues prices will respond very aggressively."
From Yahoo News
DEAUVILLE, France – Rich countries and international lenders are aiming to provide $40 billion in funding for Arab nations trying to establish true democracies, officials said at a Group of Eight summit Friday. Officials didn't fully detail the sources of the money, or how it would be used, but the thrust was clearly to underpin democracy in Egypt and Tunisia — where huge public uprisings ousted autocratic regimes this year — and put pressure on repressive rulers in Syria and Libya.
It might have been easy, amid the raucous cheering at Prime Minister Benjamin Netanyahu's Capitol Hill pep rally on Tuesday, for Israelis to ignore President Obama's earlier warning of a gathering storm on Israel's horizon. But Wednesday's announcement that Egypt plans, on Saturday, to effectively end the siege of Gaza by permanently opening the Rafah border crossing brought home the harsh truth of Israel's increasingly isolated position. (Obama, the same day, got a non-commital response from Prime Minister David Cameron in London when urging Britain to join the U.S. in opposing a September U.N. vote recognizing Palestinian statehood.)
- WHY ARE THERE SO MANY NATURAL DISASTERS IN 2011?
The news just keeps getting worse and worse.
Now, on top of everything else, the path of Super Typhoon Songda (with sustained winds of 160 mph and gusts up to 195 mph) could take it directly over the Fukushima complex. Needless to say, that could potentially be a nightmare. Sadly, more catastrophic seismic events may be on the way. As I have written about previously, there is a growing body of evidence that the "Ring of Fire" is waking up.... Read more
SINKHOLES, EARTH CRACKING, GIANTS RIFTS APPEARING WORLDWIDE
A 35-mile rift in the desert of Ethiopia will likely become a new ocean eventually, researchers now confirm. The crack, 20 feet wide in spots, opened in 2005 and some geologists believed then that it would spawn a new ocean. Read more
From Extinction Protocol blog: http://theextinctionprotocol.wordpress.com/
May 28, 2011 – MANILA, Philippines - Nearly 400 metric tons of milkfish were found floating in Taal Lake in the northern Philippines, local officials said today. Talisay Mayor Zenaida Mendoza said that more or less 375 metric tons of milkfish died since Thursday in 84 fish cages in Sampaloc village of the same town in Batangas province. Zeny Macatangay, Municipal Agriculture Officer of Talisay, said that initial investigation disclosed that the fish death was due to “sudden change of water temperature” in the lake where Taal Volcano is located. Alert Level 2 is still in effect over Taal Volcano, with the interpretation that magma has been intruding towards the surface, the Philippine Institute of Volcanology and Seismology said. Six volcanic earthquakes were recorded in the past 24 hours near the volcano. Read more