http://news.yahoo.com/s/ap/20080508/ap_on_re_as/the_perfect_storm
"The delta had lost most of its mangrove forests along the coast to shrimp
farms and rice paddies over the past decade. That removed what scientists say is
one of nature's best defenses against violent storms."
We need sustainable agriculture. We need sustainable forestry practices. My feeling: Until the 'West' begins consuming in a responsible manner, the peoples of developing nations will suffer even more in the years to come. I realize this is the pot calling to the kettle, but we need less stuff, and we need to be more cautious with how we acquire stuff and food.
Frankly, in the States, the ability to consume is gone. Too much debt, too much stuff already. I just read via Time magazine that factories in China are closing - ie they are feeling the slump in the States. How far will this go? Well, in terms of money, I tend to be a 'glass is half empty' kind of person (really, if you think I'm otherwise then you don't know me that well).
What's going to hold things together, I think, is if investors view the States as a giant for sale tag. The market is 'on sale.' Buy in while it's low, hang on, and ride the coaster for the long haul. If everyone plays too cautious and can't ride for the long haul, then the States really is in trouble. What's going to be interesting to watch is how many (a lot? or just a few?) investors from outside the States pump money into the U.S. markets. It's also going to be interesting to watch markets in the Mid-East, India and China. What are they going to do? How is the U.S. economy going to affect them?
I'm also very interested in watching what happens between Venezuela and the U.S. If bad stuff happens, Venezuela oil will still flow to the U.S. and the middle men will make millions. The average U.S. person will really feel the crunch.
Europe has had high gas prices for years. Let's see how the States handles it over the long haul.
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