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The West's Reckless Rush Towards War with Russia

Chris Martenson - July 31, 2014 - 07:54

For reasons that have no rational explanations at this time, the US and Europe have embarked on a concerted program to demonize Putin, ostracize Russia, and bring the world as close to a major conflict as it's been since the Cold War, a time hardly memorable to many in the current crop of our elected officials.

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Categories: Economics

How The Coming Confrontation Will Unfold

Chris Martenson - July 31, 2014 - 07:52
Executive Summary
  • The 4 most likely scenarios of Russian response
  • Europe is more vulnerable, and will feel more pain sooner than the US (though the US is still at risk)
  • The risk to the world economy and financial markets
  • What you should be doing now, in case things worsen

If you have not yet read Part I: The West's Reckless Rush Towards War with Russia available free to all readers, please click here to read it first.

Europe Will Pay the Price First

Europe is already on the edge of slipping back into outright economic contraction and can ill afford any sort of protracted sanction warfare with Russia, a major trading partner in both directions.

While the sanctions levied by Europe were very carefully crafted to cause the least amount of pain for itself as a fist order of business, while imposing maximum pressure on Russia second, they will still bite.

‘EU sanctions on Russia will hit UK economy’ – Foreign Secretary

Jul 30, 2014

EU sanctions aimed at ‘imposing economic pain’ on Russia following the MH17 crash will hit the UK economy, Foreign Secretary Philip Hammond has warned, saying ‘you can't make an omelette without breaking eggs’.

Hammond said the measures had been “designed to maximize the impact on Russia and minimize the impact on EU economies.”

“It will affect our economy... but you can't make an omelet without breaking eggs, and if we want to impose economic pain on Russia in order to try to encourage it to behave properly in eastern Ukraine and to give access to the crash site, then we have to be prepared to take these measures,” he told Sky.

On Wednesday, The Russian Foreign Ministry criticized the new package of EU sanctions, saying it was disappointed Europe was unable to act independently from Washington in the International arena. 

“We feel ashamed for the European Union who, after long searching for a unified voice is now speaking with Washington’s voice, having practically abandoned basic European values, including the presumption of innocence,” the Foreign Ministry said in a statement.


Indeed, it's easy to imagine how disappointed Russia might be to have so many unresolved questions about MH-17 lingering yet having Europe rush forward with punishment despite a long and warming history of economic ties.

Of course, the main consideration for Europe now that autumn is just a couple of months away is...

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Categories: Economics

Daily Digest 7/31 - Argentina Goes Into Default, Milennial Purchasing Power Sits Idle

Chris Martenson - July 31, 2014 - 07:41
  • Unable to reach deal with creditors, Argentina goes into default
  • Abstractly Represented Money: Introducing Metamoney
  • BlackBerry ups mobile security ante with Secusmart buy
  • Welcome to the New Dark Age
  • Blacklight’s July 21, 2014 Third Public Demonstration
  • Purchasing Power Sits Idle in the Basement
  • U.S. Judge Orders Seizure of Kurdish Oil from Tanker Off Texas Coast
  • Investors Can Feast on Fertilizer Yields

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Categories: Economics

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Community Currency Magazine - July 30, 2014 - 19:42

Leaps of faith
I hear and I forget. I see and I remember. I do and I understand. -- Confucius Anyone coming to Earthaven to live -- whether as a guest, an intern, a work-exchanger, or long term resident -- must p...
Categories: Economics

Darkening Skies

Chris Martenson - July 30, 2014 - 16:31

Chris is busy finishing up a meaty report on the accelerating friction between the West and Russia, so I'm stepping in to make some quick notes on today's meaningful developments.

As readers know, we've been cautioning about a serious market correction for a long time. Valuations have been so far divorced from fundamentals for so long that we are frighteningly overdue for a drop -- likely a large one -- in asset prices.

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Categories: Economics

A Nurse’s Fully Stocked Medical Kit

Chris Martenson - July 30, 2014 - 12:56

A nice overview and contents list of what an experienced ER nurse carries in her home med kit and how she organizes it.

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Categories: Economics

Daily Digest 7/30 - Some GMO Corn No Longer Pest-Resistant, Worldwide Water Shortage By 2040

Chris Martenson - July 30, 2014 - 07:15
  • Red light traffic cameras generate big revenue for local governments across D.C. region
  • Brazil farmers say GMO corn no longer resistant to pests
  • Russia faces having assets seized around the world after international court rules it has to pay $50B to shareholders of energy company 
  • Student debt 'relief' scams offering nothing but distress
  • Record number of people opt for insolvency after becoming overwhelmed by debts despite signs of economic recovery
  • More than a third of U.S. adults pursued by collection agencies
  • Putin Sanctions Risk Access to $600 Billion in Funding
  • Slower U.S. healthcare cost rise extending life of Medicare fund: trustees
  • Worldwide water shortage by 2040
  • Unprecedented California Drought Restrictions Go Into Effect

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Categories: Economics

24 Smart Uses For Household Items In The Garden

Chris Martenson - July 29, 2014 - 09:01

Great ideas to help you use common everyday items from around the house to make your garden more organized and get the most out of your food production efforts.

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Categories: Economics

Daily Digest 7/29 - Making Good Food Affordable, Megaphone Silver Prices

Chris Martenson - July 29, 2014 - 07:28
  • Their Economy Will Collapse, Including Ours
  • We're 650,000 Start-Ups Shy of a Revolution
  • What Is the Effective Limitation on the Fed's Ability to 'Print Money?'
  • Here’s What Wall Street Bulls Were Saying In December 2007
  • Faber: Stocks will peak within in next 60 days then drop 20-30 percent
  • Silver Prices - Megaphone Patterns
  • Six Flags Stock to Rise Late This Summer
  • Making Good Food Affordable

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Categories: Economics

23 Food Sharing Projects That Are Disrupting Hunger

Shareable Magazine - July 29, 2014 - 07:12

Food is one of our most basic needs. And yet, for over 800 million people, food insecurity remains a daily issue. While top-down programs that address hunger certainly exist, more efficient, immediate solutions are sometimes found on the community level, where neighbors directly help neighbors.

We’ve rounded up 23 food projects that are transforming communities by feeding the hungry, educating people about healthy eating and food justice issues, and providing opportunities for people to grow their own food.

Categories: Economics

Be Your Own Chimney Sweep

Chris Martenson - July 28, 2014 - 13:15

A wonderful summary of the steps and precautions to cleaning your own chimney.

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Categories: Economics

20 Urban Food Forests from Around the World

Shareable Magazine - July 28, 2014 - 12:29

The Seven Layers of a Food Forest. Diagram by Graham Burnett via Wikipedia.

Categories: Economics

New Cooperative Refinances Student Debt with Community Funds

Shareable Magazine - July 28, 2014 - 10:13

Top image excerpted from Libby Nelson’s Everything You Need To Know About Student Debt.

Over the past two decades, the amount of money a college student must borrow to pay for their education has doubled. The graduates of 2014 now sit at the top of the class in student debt. Tuition fees have risen dramatically as household incomes have stagnated, at best, causing some 70 percent of students to fund their higher educations through loans.

Categories: Economics

Something's Fishy With The US 'Data' on Ukraine, Russia

Chris Martenson - July 28, 2014 - 08:51

For weeks now I've been patiently waiting for the US to release some (any!) definitive data about the Ukraine situation, including the MH17 shoot-down.  After all, as everybody knows, the US has intensive satellite and electronic scanning technologies in place around the globe, and therefore should be able to provide some serious intelligence to make its case.

Frankly, the US needs to provide much harder evidence for its current claims to be credible.

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Categories: Economics

Appalachians Leaving Coal for the New Economy

Shareable Magazine - July 28, 2014 - 08:40

Top image: A mural in Benham, Kentucky. Photo by Catherine Moore for Appalachian Transition Fellows. Article and images cross-posted from YES! magazine.

Benham, Kentucky, in the heart of Harlan County, is a quiet place with a proud sign that has been amended over time to read, "Benham, the little town that International Harvester, coal miners and their families built."

Categories: Economics

Daily Digest 7/28 - You Can’t Taper a Ponzi Scheme, Dust Bowl-Like Migration Could Be Imminent

Chris Martenson - July 28, 2014 - 06:57
  • Mauldin's Vision Quest
  • You Can’t Taper a Ponzi Scheme: Time to Reboot
  • Residents within 5 km of Kyushu nuclear plant given iodine tablets
  • Your chicken is about to get more full of feces
  • 5 Industries Worried About Peak Oil
  • Study shows trees save many lives—are tree-huggers onto something?
  • Earth survived near-miss from 2012 solar storm: NASA
  • America Might Soon Witness A Dust Bowl-Like Migration
  • What Do Chinese Dumplings Have to Do With Global Warming?

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Categories: Economics

Michael Klare: Finite Resources And The Geography of Conflict

Chris Martenson - July 27, 2014 - 09:49

Ukraine. Iraq. Nigeria. Libya. Tunisia. Syria. All are hotspots of conflict in different regions of the world, yet the same underlying cause behind each can clearly be seen when looking through the lens of finite resources.

In this week's podcast, Chris talks with Hampshire college professor Michael Klare, author of The Race for What's Left: The Global Scramble for World's Last Resources and Resource Wars.

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Categories: Economics

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Community Currency Magazine - July 26, 2014 - 10:00

The future of co-operative and mutual banking is keeping it local
The future of banking will be fundamentally different to both the past and present incarnations. While the focus at present is on regulatory and structural
Categories: Economics

Daily Digest 7/26 - Goldman Sees Market Decline Risk, Combating Our Current Mass Extinction

Chris Martenson - July 26, 2014 - 08:16
  • The Typical Household, Now Worth a Third Less
  • Why a Soaring Stock Market Is Wasted on the Young
  • Ebola Victim On The Run In West Africa Capital
  • Gold Price In 2014 Consolidating Above Major Support Area
  • The Poor Don’t Need a Life Coach
  • Goldman Sees Risk of Stock Decline on Rising Bond Yields
  • Tracking And Combating Our Current Mass Extinction
  • Steam energy from the sun: New spongelike structure converts solar energy into steam

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Categories: Economics