How can we believe what we are being told? First the Fed conducts this Stress Test for the Obama administration to determine how solvent the banking industry is, and then they are so troubled by the results that they refuse to release them to the public due to a fear of a run on the banks. Now they are downplaying the results and telling us that the industry is just fine. That only 10 out of the 19 biggest banks need MORE money to survive. But insist that there is no other problem with the financial system.
They then tell us that the recession will end in September to October 2009 and all will be hunky dory. This on the heels of yet another dismal unemployment report. What the report does not tell you is that these people have filed claims, not that there are countless others who are not on unemployment due to their benefits running out or that there are people drawing unemployment in addition to the number of new claims.
People, we need to take our heads out of the sand and start to piece together what is really going on here. Forget the party politics and realize that the way you lived before will never return to it's former splendor. I was perusing the older stories that I have saved to my desktop and I came across one that has the capability of doing more damage than the banking industry or the swine flu.
There was a report about food prices and food shortages that are due to hit later this year due to lack of water for agricultural areas of California. In the report farmers are being forced to idle thousands of acres of farmland due to the water shortages facing the region. This sparked lots of concerns in March but then the economic debacle was thrown into the mix to divert our attention from the food riots and other demonstrations occurring in Europe and other areas of the world. Then people began rioting due to the financial crisis in Europe and the media quickly changed our focus once more.
Food Prices will rise soon and I do not mean the small jumps that we see every year. I challenge all readers to track the prices that they pay at their favorite grocery retailer and you will see that prices are indeed rising almost on a weekly basis.
I worry sometimes for all of the people living in California who demand that they have unrestricted access to water while the farmers are being told that there is no water for them. Eventually they will see that their insatiable thirst has cost all of us our food supply.
Friday, May 8, 2009
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