Department of Energy Acknowledges Hubbert Oil Peak Is Here

We seem to finally have reached the oil industry’s Hubbert Energy Peak.  That is, it is more expensive and much harder as well as much more dangerous, exploring for and extracting oil.  Known reserves are drying up while new ones are unable to make up for this drop in production from existing, older fields.  

More EU Nations See Debt Collapses

ΩΩThe entire world went through a very massive credit bubble era and as this implodes and all credit bubbles implode, the attempts of governments to fix this via creating massive amounts of government debts is leading to a secondary implosion that is much, much more dangerous than the primary implosion.  Right now, all of Europe is spiraling downwards in a credit crash as one PIIGS after another is dropping in ratings towards junk bonds while costs on borrowing shoots upwards.  This, in a ZIRP world due to a depression!  

Media Con Men Try To Distract Us

An army of commentators and TV personalities are making fun of the Congressional hearings going after Goldman Sachs con men.  This, of course, is a media con game.  As the condition of sovereign states and governments worsen, we see rising street actions that will spread around the planet.  The collapsing credit bubble is entering stage 2 of this Great Depression.  This is where violent political change begins to hammer various governments.

Boy, That Is One Sh*tty Deal

The four Musketeers of Goldman Sachs testified in a subcommittee hearing in the Senate today.  I only got to see a small part of the show because I had to run off to the dentist for root canal work.  OUCH.  Well, trying to get a straight answer from those GS con men was harder than doing root canal work without pain killers, in the dark.  Maybe that would be the only way to get information from these guys: pull their teeth.

Clever Crooks Cheat Chumps

Congress is stuck thanks to the flood of money flowing into the GOP from GS and other corrupting bankers so we have, so far, no real reforms and the reforms proposed by the Democrats don’t even begin to scratch the surface of what went wrong and this is due to lack of analysis…no surprise to me.  The Republicans heavily support Ron Paul’s Fed bill but this is lukewarm, at best, a tactical move to fool voters just like the Democratic moves are the same thing: fooling voters is paramount here.  The voters want serious change, over 60% of the voters want this and that number corresponds nearly exactly with the vote tally for Obama.

China Wins #3 Spot At World Bank

ΩΩEven as we focus on the incredible news pouring out of Wall Street’s wildest gambling gnomes, we must not lose track of the real, real news which is the rise of China and the disintegration of the US/UK banking dominance of the world as the imperial duo at the top continues to deindustrialize.  We also will travel back in time via my blog stash to see what was really going on, April 2, 2007 and why this day is important in the unfolding Goldman Sachs news.

Goldman Sachs Are Sacks of S**t

ΩΩEven if this is rather boring sometimes, I like to see things in full and try to understand on my own and at the same time, put everything into context.  So, in the case of the news about Goldman Sachs emails which openly discuss how GS profited from the collapse in value of mortgage bonds they bundled and sold, reading the emails and putting all of this in its time frame is very important.  These emails clearly show that the clever dealers at GS were too clever by half.  They ‘gamed the system’ set up by themselves when they, themselves, used political power to erase important post-Great Depression laws.  That is, the opportunities they had for gains were based on a system doomed to fail thanks to these gains and systems set up by Goldman Sachs.