What the hell? Great work Obama and nice cover up. This ain’t from Infowars or some cretin’s website either – but a local news channel that stumbled on the biggest story of the year.
Here’s the story:
Here’s a follow up:
Where’s the rest of the media on this one?
h/t Free Republic
Sysco is one of the largest food distributors in the world and they sent out this news alert to their clients. Severe weather has destroyed so many crops that they are expecting both immediate disruptions and major impact to food supplies in 30-60 days:
THE EXTREME FREEZING TEMPERATURES HIT A VERY BROAD SECTION OF MAJOR GROWING REGIONS IN MEXICO, FROM HERMOSILLO IN THE NORTH ALL THE WAY SOUTH TO LOS MOCHIS AND EVEN SOUTH OF CULIACAN. THE EARLY REPORTS ARE STILL COMING IN BUT MOST ARE SHOWING LOSSES OF CROPS IN THE RANGE OF 80 TO 100%. EVEN SHADE HOUSE PRODUCT WAS HIT BY THE EXTREMELY COLD TEMPS. IT WILL TAKE 7-10 DAYS TO HAVE A CLEARER PICTURE FROM GROWERS AND FIELD SUPERVISORS, BUT THESE GROWING REGIONS HAVEN’T HAD COLD LIKE THIS IN OVER A HALF CENTURY. THIS TIME OF YEAR, MEXICO SUPPLIES A SIGNIFICANT PERCENT OF NORTH AMERICA’S ROW CROP VEGETABLES SUCH AS: GREEN BEANS, EGGPLANT,CUCUMBERS, SQUASH, PEPPERS, ASPARAGUS, AND ROUND AND ROMA TOMATOES. FLORIDA NORMALLY IS A MAJOR SUPPLIER FOR THESE ITEMS AS WELL BUT THEY HAVE ALREADY BEEN STRUCK WITH SEVERE FREEZE DAMAGE IN DECEMBER AND JANUARY AND UP UNTIL NOW HAVE HAD TO PURCHASE PRODUCT OUT OF MEXICO TO FILL THEIR COMMITMENTS, THAT IS NO LONGER AND OPTION.WITH THE SERIES OF WEATHER DISASTERSTHAT HAOCCURRED IN BOTH OF THESE MAJOR GROWING AREAS WEWILL EXPERIENCE IMMEDIATE VOLATILE PRICES, EXPECTED LIMITED AVAILABLITITY, AND MEDIOCRE QUALITY AT BEST.THIS WILL NOT ONLY HAVE AN IMMEDIATE IMPACT ON SUPPLIES, BUT BECAUSE OF VERY STRONG BLOSSOM DROPS, THIS WILL ALSO IMPACT SUPPLIES 30 – 60 DAYS FROM NOW.SOME GROWERS ARE MEETING WITH THEIR BOARDS RIGHT NOW TO DETERMINE WHETHER THEY SHOULD IMMEDIATELY RE-PLANT, HOPING FOR A HARVEST BY LATE-MARCH-TO-EARLY-APRIL, OR WHETHER THEY SHOULD DISC THE FIELDS UNDER AND WAIT FOR ANOTHER SEASON.
Lest you think this is business as usual they end their announcement thusly:
We are doing everything we can with our growers to minimize the effect of this disaster on you. With the unprecedented magnitude of this event we wanted to immediately make you aware of the conditions. We will continue to send out communications as our people on the ground report back to us. We thank you and we appreciate your understanding during this time.
I don’t know about you but when a major food distribution corporation starts throwing around words like “disaster” or claiming an “event” is of “unprecedented magnitude” I start to get nervous.
h/t Survive and Thrive TV
Generous pensions are unsustainable and that’s not an ideological state, it’s simple math. What exactly is the USPS supposed to do when they can’t pay mandated obligations?
NEW YORK (CNNMoney) — The U.S. Postal Service warned Wednesday that it may default on some of its financial obligations later this year after reporting yet another quarterly loss.
The USPS, a self-supporting government agency that receives no tax dollars, said it suffered a loss of $329 million in the first quarter of federal fiscal year 2011. That compared with a loss of $297 million a year earlier.
The agency has been suffering from an ongoing decline in mail volume, which has undercut revenues, while retiree health care costs have been straining its reserves.
Excluding costs related to retiree benefits and adjustments to workers’ compensation liability, the Postal Service said it had net income was $226 million in the first quarter, which ended Dec. 31.
Despite ongoing cost-cutting efforts, the USPS said it expects to have a cash shortfall this year and to hit its federally mandated borrowing limit by September, when the government’s fiscal year ends.
The agency said it will be forced to default on some of its financial obligations this year unless Congress changes a 2006 law requiring it to pay between $5.4 and $5.8 billion into its prepaid retiree health benefits each year.
I’m betting there will be no change in laws. So what’s the solution?
Surprise! But only if you thought that a recover was in the works:
U.S. home foreclosures jumped 12 percent last month, but the sharp divide between states suggests the industry remains backlogged by investigations into the foreclosure process.
According to a report from real estate data firm RealtyTrac, lenders foreclosed on 78,133 properties in January, up 12 percent from the month before, but down 11 percent from January a year ago.
Bank seizures at states with non-judicial foreclosure processes jumped 23 percent, while states with a judicial process saw a decrease of 7 percent.
“It suggests the system is still frozen up. We should have seen a much larger increase in both overall activity and bank repossession,” said Rick Sharga, senior vice president at RealtyTrac.
“The numbers will inevitably go up, it’s just a question of will it be sooner or will it be later.”
The number of foreclosure filings, which includes default notices, scheduled auctions and bank repossessions, rose 1 percent to 261,333 in January. Compared to January last year, filings are down 17 percent.
So I guess in places where judges are allowing people to not pay and stay in their houses banks are giving up, but in states where that hasn’t happened yet banks are picking up pace to get people out before lefty lawyers get involved. No matter the outcome your savings and house values are not safe.
From Omaha.com:
Warnings of higher food prices headed for American supermarkets and restaurants were swallowed easily across much of farm country Wednesday.
The big gulp came when the U.S. Department of Agriculture reported that global demand had pushed U.S. corn supplies to their lowest point in 15 years.
The price of corn, which has doubled over the past six months, affects most food products in supermarkets. It’s used to feed the cattle, hogs and chickens that fill the meat aisles.
It is the main ingredient in Cap’n Crunch and Doritos. Turned into syrup, it sweetens most soft drinks and many foods.
Corn also is part of the agricultural blend that fuels the economies of Nebraska, Iowa and other farming states. Iowa is the nation’s top corn-producing state; Nebraska is third.
Shoppers could see higher grocery bills as early as three months from now, though most of the impact won’t be felt for another six months, said Scott Irwin, an agricultural economics professor at the University of Illinois.
Chicken prices are among the first to rise because the bird’s life span is so short that higher feed costs get factored in quickly, he said. Price hikes for hogs take about a year and cattle two years. Prices on packaged foods take six or seven months to rise.
I’d plan more for a one or two month window. Start stocking up now. Farmer’s are set to make some money, and you micro-farmers and hardcore gardeners may be able to cash in as well:
Warnings of higher food prices headed for American supermarkets and restaurants were swallowed easily across much of farm country Wednesday.
The big gulp came when the U.S. Department of Agriculture reported that global demand had pushed U.S. corn supplies to their lowest point in 15 years.
The price of corn, which has doubled over the past six months, affects most food products in supermarkets. It’s used to feed the cattle, hogs and chickens that fill the meat aisles.
It is the main ingredient in Cap’n Crunch and Doritos. Turned into syrup, it sweetens most soft drinks and many foods.
Corn also is part of the agricultural blend that fuels the economies of Nebraska, Iowa and other farming states. Iowa is the nation’s top corn-producing state; Nebraska is third.
Shoppers could see higher grocery bills as early as three months from now, though most of the impact won’t be felt for another six months, said Scott Irwin, an agricultural economics professor at the University of Illinois.
Chicken prices are among the first to rise because the bird’s life span is so short that higher feed costs get factored in quickly, he said. Price hikes for hogs take about a year and cattle two years. Prices on packaged foods take six or seven months to rise.
While corn prices soar some of you boutique producers are going to see more traffic to farmer’s markets as supermarket prices meet, then exceed, specialty prices. People looking for deals on food will be exposed to small market farms as well. Don’t bother growing corn, high nutrition tasty plants that can be harvested more than once will be in demand soon, as will their seeds.
In the meantime, check your circulars there’s some good deals to be had. Go shopping for some staples and now might be the time to buy some food buckets and sprouting kits.