The global average temperature in 2011 was 14.52 degrees Celsius (58.14 degrees Fahrenheit). According to NASA scientists, this was the ninth warmest year in 132 years of recordkeeping, despite the cooling influence of the La Niña atmospheric and oceanic circulation pattern and relatively low solar irradiance. Since the 1970s, each subsequent decade has gotten hotter — and 9 of the 10 hottest years on record have occurred in the twenty-first century.
Each year’s average temperature is determined by a number of factors, including solar activity and the status of the El Niño/La Niña phenomenon. But heat-trapping gases that have accumulated in the atmosphere, largely from the burning of fossil fuels, have become a dominant force, pushing the Earth’s climate out of its normal range. The planet is now close to 0.8 degrees Celsius warmer than it was a century ago. Hidden within Read more…
It seems FEMA has been preparing for some time for some event, which we should find worrying to say the least. What that something is I am not sure, but when you look at what FEMA have been doing it becomes obvious that whatever it is does not bode well for the rest of us. There are already over 800 FEMA camps throughout America.
These all have railroad facilities as well as roads leading to and from the detention camps. The fact that these camps have railroad facilities becomes even more interesting when we take into consideration that FEMA supposedly ordered 102,000 boxcars with shackles. While I have not been able to verify this last piece of information there have been witnesses who claim to have seen them.
Why does America need all these camps and who are they for?
The mystery deepens with what seems to be stacks of mass coffins waiting to be filled across Read more…
The World Food Program’s representative in one of the countries which has seen protests, Yemen, recently stated: ‘There is an obvious link between high food prices and unrest.’
The 2008 food crisis was a warning of things to come. More recently, food prices rose by 15% in just the period October 2010 to January 2011, according to the World Bank’s Food Price Watch.
This time, the impacts have been felt more keenly in political and security circles. The President of Read more…
“If economic growth in the United States continues to gain traction and the prospects begin to look ever better, it might be time for us to begin thinking about how do we begin to gradually take our foot off the accelerator,” Plosser told reporters after a speech at the Central Bank of Chile in Santiago, according to news reports.
Plosser said he may favor a rate increase if economic growth necessitates a change.
“It might. I’m not going to rule that out,” he said.
The central bank has said that it plans to keep short-term interest rates low for an “extended period.”
During Monday’s speech, Plosser also predicted that the U.S. could grow between 3 percent and 4 percent this year.
The Fed’s plan to purchase $600 billion in government debt will probably continue through June while the nation’s 15 million unemployed look for work, although Plosser didn’t rule out pulling the stimulus funds back earlier.
“It could end earlier if economic conditions call for it, but right now I’m not sure that that’s the most likely outcome,” he told reporters. “It obviously creates challenges for some countries because of appreciating currencies. But I think that will pass. Those are short-run issues.”
Plosser has expressed concern about whether the Fed’s quantitative easing, also known as QE2, will spur economic growth while lowering the jobless rate that has remained above 9 percent for 20 months.
“Monetary policy is not going to be able to speed up the adjustments in labor markets or prevent asset bubbles, and attempts to do so may create more instability, not less,” he said.
“Expecting too much of monetary policy will undermine its ability to achieve the one thing that it is well-designed to do — ensuring long-term price stability.”
QE2 has brought harsh criticism from some lawmakers on Capitol Hill who argue that the plan could devalue the dollar and cause inflation.
The numbers are staggering! Over $660 Billion in debt. That is almost the entire US federal bail out package that was passed during the financial crisis last year. All for one, albeit very large, company. That company is General Electric. GE has over 300,000 employees and operates in more than 100 countries. Can it really go bankrupt? The answer is yes!
GE seems to have a history of building debt obligations. GE’s long-term asset base grew $200 billion (or 30%) between 2003 and 2008 when prices were at their highest. Now GE is attempting to sell off many of those assets (when prices are low, but they are desperate for cash so they are forced to sell). In the near term GE has to repay or refinance $240 Billion before the end of 2011.
In March of last year GE lost their prized AAA credit rating from Standard and Poor rating agency. Other agencies have them ranked much lower. John Atkins, a fixed-income analyst at IDEAGlobal.com, said “it remained unclear what the impact will be on GE’s borrowing costs. Even with the ‘AAA’ credit rating, the cost of insuring debt of GE Capital had been in distressed territory recently.” This is a dramatic understatement. In fact, last year, the U.S. government had to guarantee $500 billion in GE’s debt. GE’s interest on its debts are about to soar.
As Porter Stansberry said in November of 2009, with the guarantee, GE only spent roughly $17 billion last year to service its $660+ Billion in debt. That’s an annualized interest rate of 2.5%. This is not sustainable. Sooner or later, GE is going to have to pay a market interest rate. The government guarantee expires in 2011 and that is when you can expect costs to soar.
Currently, the yield on high-yield corporate debt is around 10%. GE is now rated two slots above “junk” by Egan Jones. Assuming that GE could still qualify as an investment-grade credit – (since there is some discrepancy between ratings agencies) GE would pay something like 8% on its debt in a free market.
That would cost more than $52 billion a year. Last year, GE earned $11 billion before interest and taxes – in total. That’s not nearly enough money to pay the interest on its debts – whether they’re backed by the government or not.
Check back tomorrow and I’ll show you one way to play General Electric that has already earned 40% returns in just 2 weeks, but has much more to go.
Winter has only just begun, and many people across the country are already sick of the cold. On the heels of a record-cold December, frigid weather will continue seizing areas from coast to coast through mid- to late January.
Based on this forecast, AccuWeather.com Chief Long Range Forecaster Joe Bastardi says this month could turn out to be the coldest January for the nation as a whole since 1985.
While there has been outstanding regionalized cold in January in recent years, Bastardi points out that the U.S. has not experienced this type of coast-to-coast cold since the 1980s.
Record-smashing cold already gripped a large portion of the West the first few days of the month with snow even falling in Las Vegas Monday. Bitter arctic air has also made a return to the northern Plains, while the East and South experienced a dramatic cooldown since the weekend.
More waves of arctic air will invade the country, starting late this week and continuing through next week and beyond. The period from Jan. 10-20 is when Bastardi expects the core of the cold to be in place, with the northern Plains in the heart of it.
He says places from Chicago to Denver could have one or two days with high temperatures below zero during this time. People in New York City may be looking at one day with highs in the teens, while temperatures potentially fail to rise out of the 20s in Dallas, Texas, and Jackson, Miss., for a day or two.
Bastardi also highlights the potential for rare snow in Seattle and Portland with the upcoming weather pattern.
The cold air coming to Texas starting early next week could affect the state’s citrus industry, according to Bastardi. He thinks Florida citrus, however, should be safe.
This past weekend, AccuWeather.com Expert Senior Meteorologist Alex Sosnowski started warning about the severe cold that is coming and provided more details on just how bad it will be.