Kunstler: "... another tsunami is building right behind the finance fiasco..."

What the mainstream is truly missing here en masse is that another tsunami is building right behind the finance fiasco, and that it will render moot the whole reeking cargo of schemes and wishes that comprises the Great Bail-out. I am speaking of the global oil problem. In fact, the problems in banking and money currently roaring in the center ring of the world circus, can be described categorically as a product of the oil problem -- since oil is the primary resource of industrial economies and therefore the motive force behind our ability to generate "wealth." Without reliable and ever-growing supplies of oil, there is no industrial growth, and without industrial growth things like capital investment instruments lose their legitimacy. That is why the Frankenstein family of Ponzi securities was invented in the first place -- to compensate for the demise of industrial growth by creating wealth out of... nothing!

The looming oil problem entails a swirl of factors that will aggravate and accelerate our social, economic, and political struggles. These factors will mutually reinforce the instabilities that they set into motion. For instance, the new oil nationalism is undermining the traditional operation of oil markets as we've known them since the mid-20th century. In turn, oil nationalism will aggravate the oil export crisis, which will starve the oil importers -- the USA being the chief victim. Finally, there is the remorseless base-line condition of Peak Oil itself, meaning that we are at point where world oil demand permanently outstrips world oil supply no matter if the USA falls on its ass economically or not. What remains beyond this is a desperate contest among the oil importers -- America, Europe, China, Japan, India -- for control of the world's remaining oil resources.

The fantasies about alternative energy currently wafting across the American media-scape will not "solve" this problem, much as we wish they might. We'll try everything in a quixotic effort to sustain the unsustainable (that is, the happy motoring consumer society), but we will be disappointed by the results. I try to remind readers that the very concept of "solutions" does not apply in this situation, since it implies that we can keep running things in America just the way we are running them now, only by means other than oil. The truth, in my view, is that we have to run things very differently now, at different scales than the ones we're used to -- but we are too invested in our behavior of the past to move forward. This is certainly unfortunate, because we have everything to gain by letting go of our old habits and obsolete wishes.

It's odd to watch the talking heads on CNBC this morning, parsing endlessly over the latest minutiae of the latest deal for CitiGroup to land on Wachovia like a giant amoeba and begin the gruesome process of digesting its innards. The TV heads are just like the medieval monks trying to explicate the labanotation of x-number of angels dancing on the head of the pin. Religion really is the only metaphor left to discuss the epochal disaster underway right now, because God alone knows where this will take us.

NVDL: No one commentates more powerfully, or with more insight, on the bewildering and burdensome topics than this man. He also uses the sort of language that we deserve - firm, disciplined, unembelished.

Are you ready for a job at Lehman? [VIDEO]

Errr...never mind that the company no longer exists.

Kyle Skips Maine, Kicks Canada - Subtropical Storm Laura Forms

NVDL: The Laura storm is really far north. Very unusual I'd say.

clipped from news.yahoo.com MACHIAS, Maine - It threatened to be the first hurricane in 17 years to make landfall in Maine. Instead, Kyle delivered little more than a glancing blow equivalent to that of a classic nor'easter. In Canada, the storm arrived on the eve of the fifth anniversary of Hurricane Juan, a Category 2 storm that killed two people and caused an estimated $100 million in damage. Canadian officials said Kyle's impact would not be as severe. "Its going to be pretty bad around here," Donnie Ross said as he hurried across the bow of his fishing vessel in Cape Sable Island, Nova Scotia. "We have a lot of boats that are worth a lot of money and if any of them let go it will smash the rest of them up." The deadliest storm to hit the Northeast was in 1938 when a hurricane killed 700 people and destroyed 63,000 homes on New York's Long Island and throughout New England. Other hurricanes that have hit Maine were Carol and Edna in 1954, Donna in 1960 and Gloria in 1985.

JSE Crashing - Down almost 6%

The JSE is just above the 23000 level now. Money is eroding rapidly off world markets as banks domino into a black hole of toxic nothingness and phantom money going up in smoke.

clipped from www.businessday.co.za clipped from news.yahoo.com Wall Street is fearful the government's plan to buy up toxic debt wouldn't be sufficient to resuscitate nearly frozen credit markets. Tight lending conditions make it harder and more expensive for businesses and consumers to get a loan, which can hurt the economy. In midmorning trading, the Dow fell 272.72, or 2.45 percent, to 10,870.41 after having been down more than 350. The dollar was mixed against other major currencies, while gold prices rose. Wall Street is also worried about overall sluggishness in the world's economy. In the U.S., for example, unemployment now sits at a five-year high of 6.1 percent. That rate is expected to increase, perhaps putting further pressure on consumer spending, which accounts for more than two-thirds of the nation's economic activity.

Hurricane Kyle Hundreds of Miles Wide - Many 'Unconcerned'

...the storm system was hundreds of miles wide. "They need to understand there's going to be a whole bunch of impact and it could be a few days before phones and power is restored," MacGillvray said.

The deadliest storm to hit the Northeast was in 1938 when a hurricane killed 700 people and destroyed 63,000 homes on New York's Long Island and throughout New England. Other hurricanes that have hit Maine were Carol and Edna in 1954, Donna in 1960 and Gloria in 1985.

clipped from news.yahoo.com MACHIAS, Maine - Fishermen moved boats to shelter from a rare burst of tropical weather along Maine's rugged Down East coast Sunday as a weakening Hurricane Kyle spun past on its way to Canada, threatening a glancing blow equivalent to a classic nor'easter storm without the snow. Heavy rain lashed the state Sunday for a third straight day. As much as 5.5 inches had already fallen along coastal areas. Flood watches were in effect for the southern two-thirds of New Hampshire and southern Maine through Sunday evening. "I'm sure we'll have a lot of snarls, a lot of mess, to take care of when it's done," Carver said. "It'll take us a few days to straighten things out." Emergency Measures officials in New Brunswick were concerned that people living inland were not taking the storm warnings seriously enough.

Hurricane Kyle - 5 Day Track + Satellite Photos

Kyle is Category 1, heading towards the East Canadian Coast.

clipped from www.nhc.noaa.gov clipped from www.ssd.noaa.gov

The View From My Bicycle (COLUMN + RACE GRAPHIC + STATS)

Perfect Timing

A beautiful day, in an untouched countryside. The sky baby blue and the sun warm and steamy as pancake. A road swoops and slides over grass contours. And on that road a machine glides smoothly, the sound of a breeze, and hair billowing out the windows...
Sound familiar. Reality and your average car commercial are quite different.

On Friday afternoon I started my drive through the countryside in gridlock. Stop-start-stop-start for almost an hour. Then there are the trucks that hog the spacious highways - trucks overtaking trucks, and cars overtaking cars only to slow down absentmindedly and be overtaken. Tollgates and speed traps. And the last 40km of the N1 into Bloemfontein are still under construction - they have been for the last 6 months at least. Which means after 4 hours of driving you join another traffic jam where you are tempted to overtake and die.

The folks in Bloem are very eager to see winter to the door. It's interesting that just 400km away, Johannesburg has had another mild winter. It's almost a world away, Johannesburg is. Less wind, less of those cold extremes, not as dry. It's also a world away because it's Hansie's heartland. The cinemas in Bloem were sold out over this weekend, with locals streaming to watch their hero. Interestingly, the local newspaper gave a summary but didn't rate the movie. It was an odd sensation driving down Paul Kruger Road, the street where Hansie lived, and a street that curves less than a kilometre from Hansie's school,and seeing the bus shelters emblazoned with a faux Hansie.


I went to the Memorial Wall at Grey to see the plaque where Hansie's ashes are. The simplest message, if not the simplest on the Wall. Just his name, date of birth and death, and DIE HERE IS MY HERDER.


On Saturday morning when I unpacked my bike for the Windmill Casino race I had the strangest premonition of a puncture. I haven't had a puncture for 9 months at least. Unpacking the front wheel - it was hard as nails, I began to let go of the premonition. The back wheel was flat as could be. I managed to repair it and used a CO2 cylinder to instantly pump it up, meaning I made the race with literally a minute to spare.

After 6km I lost the bunch and then my water bottle, and over the next 2 climbs managed to drop a large runner-up bunch. I then rode with two guys, one of whom fell away at about 40km. At this point we picked up two other riders, (one guy, Ben, I know) and a few hundred metres further, I reeled in my brother. As I came alongside, I said, "G'DAY." He didn't respond. I assume he was annoyed that his fatter sibling had the gall to actually be keeping up with him. Intwistingly enough, we caught him just below Bloem's longest and probably most difficult climb. I suppose he figured I would be history - and he soon proceeded to make short work of me.

I've grown very strong in the hills of Johannesburg, and have obviously done a few races in the last few weeks. Coming from Jo'burg, Bloem's biggest hill is really a conventional training climb. As we crested I went to the front and set a hard pace. From the heart rate monitor graph it's obvious that I felt that hill.



Over the next 5km my brother and I challenged each other - making the other three riders wonder what the hell was going on. In the last kilometre he fell away, and so did my buddy who had ridden with me from the 15km mark. Ben and the other guy surged for what turned out to be the finish line on the slipway. Not quite where I expected.

The point of the story is you arrive at a race with a flat tyre, you lose your water bottle, and it's pretty easy to begin to imagine that's it's not going to be your day. It's not your day when you concede to the troubles around you. As long as you're involved, you find ways to make it work. I solved my lost water bottle problem by sipping from two other rider's bottles. And ironically, losing my bottle gave me a slightly lighter ride than I otherwise would have had. Things that happen to us in our lives are more likely to be 'bad' or 'good' because of our believing it, and believing not only makes it so, but makes it worse. When things happen that we don't expect, it is neither good not bad, it is simply a surprise.

This is true also of the President. Many South Africans wonder whether it is 'good' or 'bad' that Mbeki has left. They wonder whether Zuma will be 'good' or 'bad'. Here's a tip. Reserve judgement. If you believe it is bad, and Zuma suffers initial setbacks, he may well begin to behave in ways we expect. Judging other actions as 'good' may give him a false sense of security. It is better to respond to all things from the perspective that anything that happens is neither good, nor bad. It is simply what it is, and perhaps in retrospect, perspective will be clearer (and perhaps not).

Speaking of muddied perspectives, I'd like to conclude with a little insight into my life. As we all know, Mugabe is a dictator, he has a lot of contempt for his rivals, for leaders of some countries. He doesn't countenance dissent, and he doesn't collaborate. I know a person who reminds me a great deal of Mugabe. It's a woman. She has the same sneering contempt for people she considers 'not on her side'. She has the same moody demeanour towards her detractors. The ironic thing is that when this woman writes or reads about Mugabe I am sure in her mind that she considers Mugabe to be a 'bad' person. She might feel, like many others, that Mugabe's contempt for truth is obviously see through. She might feel angry that he has been allowed to dominate his country the way he has, making the lives of thousands miserable. All of this might echo the conventional views of the media, and others. Yet in this unequivocal judgement of the dictator, I doubt that she has ever compared herself to him. I doubt whether she has said: "I think I understand why he needs to control people, because I know why I need to..."

We cannot see anything when our beliefs have already decided our realities for us. Our conceits, the judgements we invest into our beliefs, ultimately prevent us from seeing ourselves, and finding reasons to change.



Race Stats:
Time - 1:41:27
Distance - 58km
Speed Avg -34.5km/h [This was mostly riding on my own again]
Temp - 11 avg, 8 min, 20 max
Ascent - 325m (that's nothing)
KCal - 1878
HR - 159 avg/171 avg

Barry Ronge's Hansie Movie Review is Right On The Money

I've read Barry Ronge's review of the Hansie movie. Pretty good. I have one teensy bone to pick with Barry and that is he left the cinema before the end credits - missing arguably the best scenes.

But Barry does frame the story quite well, and doesn't muck around the way a lot of other movie reviewing hacks do with all the Hansie mud slinging. Barry elegantly cruises over that.

I was standing beside him at the buffet at one point, before the movie, about to ask him if the premise of this movie...if he thought it would work. As I opened my mouth some other guy butted in and so...never did ask.
Will the Hansie movie work? I think it may resonate with the Christian flocks. And it may do quite well in India. As I said in my review Hansie's not perfect, right in the beginning, the biggest flaw is Bertha's accent.

When you get a chance though, read what Barry has to say. I think it's astute and fair. Nice job.

Petrol price to drop next week

I filled up my car this morning and the attendant told me petrol would be cheaper next week. I wondered how he knew and whether it was true. It is.

clipped from www.businessday.co.za THE RETAIL price of petrol will decrease by between 25 and 29 cents a litre on October 1, the department of Minerals and Energy announced in a delayed release on Friday. This follows a decrease of between 69 and 78 cents a litre at the beginning of this month.

HSBC cuts 1,100 jobs around the world

NVDL: I'm not sure if I'd like to be someone working in the banking industry right now. Expect these announcements to start streaming in...

clipped from biz.yahoo.com HSBC to cut 1,100 jobs worldwide in global banking, marketing units HONG KONG (AP) -- HSBC Holdings PLC, Europe's largest bank by market value, is cutting 1,100 jobs worldwide in the wake of the financial turmoil, a spokesman said Friday. The London-based lender is laying off 4 percent of its global banking and market division, with half of them taking place in the bank's operation in Britain, said spokesman Gareth Hewett in Hong Kong. "We've taken the action because of the current market conditions, the economic environment and our cautious outlook of 2009," Hewett said by phone. All of the staff being cut has already been told. The biggest losses came from the North American market, which HSBC depends on for a quarter of its revenue. Operations there posted a first-half loss of $2.9 billion, compared with profit of $2.4 billion a year ago.

Letterman pokes McCain

NVDL: The David Blaine chirp is a classic.

clipped from news.yahoo.com He said he felt like a "patriot" to let McCain off his commitment to deal with the economy and "now I'm feeling like an ugly date." "That's what I feel like, I feel like an ugly date," he said. "I feel used. I feel cheap. I feel sullied." "You're here on a good night," he told the audience. "So far none of our guests have canceled." He talked about daredevil David Blaine's feat of hanging upside down in New York's Central Park for 60 hours. "They just left the guy hanging there," he said. "It's the same thing McCain did to me last night."

WaMu is largest U.S. bank failure - US liquidity starting to freeze

More and more of these are going to follow. Without liquidity, financial systems convulse, choke and then die.

clipped from news.yahoo.com NEW YORK/WASHINGTON (Reuters) - Washington Mutual Inc was closed by the U.S. government in by far the largest failure of a U.S. bank, and its banking assets were sold to JPMorgan Chase & Co for $1.9 billion. Thursday's seizure and sale is the latest historic step in U.S. government attempts to clean up a banking industry littered with toxic mortgage debt. Negotiations over a $700 billion bailout of the entire financial system stalled in Washington on Thursday. "With insufficient liquidity to meet its obligations, WaMu was in an unsafe and unsound condition to transact business," the OTS said. Customers should expect business as usual on Friday, and all depositors are fully protected, the FDIC said.

Alamo arrested in child sex case

NVDL: This guy looks creepy.

clipped from news.yahoo.com The Southern Poverty Law Center, which tracks hate groups, describes the ministry as a cult. Alamo's church rails against homosexuals, Roman Catholics and the government, and Alamo has preached that girls are fit for marriage once they are sexually mature. "Consent is puberty," he said in an interview with The Associated Press last week from a telephone registered in the Los Angeles area while agents raided the compound. He denied any involvement with pornography. Since establishing his ministries in Arkansas, Alamo has been a controversial and flamboyant figure in the state. Snapshots often show him wearing large dark sunglasses, and he recently said he is legally blind. In his autobiography, "My Life," former President Bill Clinton, an Arkansas native, described Alamo as "Roy Orbison on speed."

Spot the difference/s

“How do you start over once you have betrayed a nation‘s trust?”
Is this a rhetorical question or what?

clipped from www.nickvanderleek.com The sport scenes in the movies are superb. No, they can’t really compare with the white knuckled suspense or reality of the real matches, but they certainly take you back. clipped from www.epherald.co.za The sport scenes in the movie are superb – of course they can‘t compare with the suspense of real matches but they certainly take you back. clipped from www.nickvanderleek.com You can see the movie makers know their cricket - Klusener’s determined flick-back batting style is purposefully rendered in this scene. clipped from www.epherald.co.za The famous semi-final where Allan Donald failed to get a final run for victory is perhaps a scene many cricketer fans will not want to remember. But the producers know their cricket. clipped from www.nickvanderleek.com Stay seated when the credits roll. The best part is the raw footage of Hansie swimming with a dolphin to Joe Niemand’s beautiful song, Cry Freedom. clipped from www.epherald.co.za Stay seated when the credits roll – the best part is the raw footage of real life Hansie to Joe Niemand's song, Cry Freedom.

Bamboo Bike [PICTURES]

NVDL: This is amazing.

clipped from blog.wired.com LAS VEGAS, Nevada -- Bike maker Craig Calfee has found a way to grow bicycle frames in a field, with sunlight and water. He makes them out of bamboo. "It's like bonsai basically," said Calfee, who is based in Santa Cruz, California. "If you grow it in the shape you want it, it's by far the strongest way to get it in the shape you want it." The bike is comparable in weight to an aluminum bike, Calfee said, but offers better performance. Plus it appeals to consumers who want to buy green -- a rapidly expanding market.

Bamboo Bike {PICTURES]

NVDL: This is amazing.

clipped from blog.wired.com LAS VEGAS, Nevada -- Bike maker Craig Calfee has found a way to grow bicycle frames in a field, with sunlight and water. He makes them out of bamboo. "It's like bonsai basically," said Calfee, who is based in Santa Cruz, California. "If you grow it in the shape you want it, it's by far the strongest way to get it in the shape you want it." The bike is comparable in weight to an aluminum bike, Calfee said, but offers better performance. Plus it appeals to consumers who want to buy green -- a rapidly expanding market.