On Wednesday I suggested that indeed there are things that “bother me” in the big picture. The biggest scare for someone like me is that we have morphed into a society where our entire lives rely on this thing called the Internet and the “grid”. ( the grid being the electrical distribution system).
I really cannot express how much this bothers me. I remember when I got my first digital camera and I was loading pictures onto my stone age computer. It was great! I could look at them, send them for free to family and friends. It was amazing. Then one day my hard drive crashed. All those memories were gone. People put on their high horse and said “Bob, didn’t you have a tape back up?!” I didn’t even know what it was at the time, all I knew was that my photo’s were gone.
So now it’s all about backing up data in “the cloud”. Well that’s just fine and dandy folks. Now what happens when that cloud goes down? Again most people snicker as if having data centers that can’t go dark is impossible. Well I’m here to tell you they most certainly can. Now, let’s pull it a little ...
In order to confront this pending apocalypse, the fearless men and women at the FLI have bravely stepped up to the plate and...written a polite letter to ask governments to think twice before developing these really effective, well-nigh unstoppable super weapons (pretty please).
... perhaps most revealing of all are the startling new estimates of capital outflow that show that China is hemorrhaging capital at an unprecedented rate and selling its US treasuries at an equally furious pace to buoy up the yuan.
Polls regularly show that Americans recognise that their country's international standing has waned. Among the young, this trendline has fallen sharply. Only 15% of 18-29-year-olds believe that America is the "greatest country in the world".
And if I am right, what we have seen so far is just the tip of the iceberg. The following are 10 very strange things that have happened in just the past few weeks…
Tragedy? Farce? Bleak tale with a light at the end of the tunnel? It’s too early to know. But get your popcorn ready, because no matter how it plays out this tale is one that will be well worth watching.
...the popping of the Chinese stock bubble is not just about a plummet in the stock market. The real key to understanding what has taken place in China is often named but seldom explained: shadow banking.
As of press time, Greece was still insisting they would not make their scheduled 1.6 billion euro payment to the IMF. Assuming the payment does not go through, what will happen?
Since they can't find any evidence that Iran has actually engaged in any nuclear weapons program activities, they are instead using the "we can't prove they haven't, either" tactic to demand unprecedented levels of access to Iran's nuclear facilities...
...if there is no debt deal by the end of this month, the Greek debt crisis is going to totally spin out of control and financial chaos will begin to erupt all over Europe. But instead of trying to be reasonable, EU president Donald Tusk “has delivered an ultimatum to Greece”
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The creator of the International Forecaster, Bob Chapman.