The second largest bank failure in U.S. history. In other news, the price of imports rose by 2.6% in June, up 20% overall above last year. More evidence that global shipping is slowing drastically.
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It’s rather amusing, in a strange sort of way, to watch the global economy implode from the comfort of home.
The mantra has been for years that globalization is here to stay. Maybe not.
I remember watching the news recently, and they were talking about how global ship transport was declining and one of the commentators, believe it or not, seriously suggested that the decline was only temporary and that it would resume to previous levels once they deploy “nuclear-powered cargo ships”. I couldn’t help but laugh, talk about a good example of the Jiminy Cricket Syndrome in action.
“The great dream of world governance comes at a price. Ancient ideas of national sovereignty have no place in the modern era. Sacrifices must be made.”
“What reactions do the global planners expect?”
“For some, the disarray of traditional relationships in international affairs indicates a dangerous deterioration of the international order and portends collapse of the system into chaos or anarchy. Others consider the turbulence of the 1990s as part of the process of evolution, an inevitable consequence of the transformation of the international system into a global system. In some respects, both are right. The international order has indeed deteriorated into ‘disorder’ in large measure, but there is growing evidence that a global system is emerging out of this ‘chaos.'”
http://www.oldthinkernews.com/Articles/oldthinker%20news/the_new_world_order_always_knew.htm
Things are apparently getting pretty bad in the UK too: “Britain urging return to wartime food frugality” – http://www.msnbc.msn.com/id/25642713
Gasoline is being rationed in various parts of the world.