Bob Morris @ Jun 25th 2007 08:16 - Category: Unfiled ;
Bank of America analysts said the current losses in the subprime mortgage market could be the “tip of the iceberg” as over one trillion dollars in adjustable rate mortgages will reset this year and next, with 70% of those being subprime.
Bob Morris @ Jun 25th 2007 00:15 - Category: Climate change Tags: drought;
It’s not just the American southwest that is experiencing drought. 50% of the US is dry or in drought. Lake Okeechobe in Florida has dried up so much that parts of its lakebed caught fire. The Jack Daniels distillery in Lynchburg, Tennessee is running out of water to use in making whiskey.
Meanwhile, cities like L.A., Las Vegas, Phoenix, and Tucson are expected to grow substantially in the coming years yet already have water problems.
Scarily, a recent study determined that global warming will permanently create dry conditions in southern California. Yes, permanently.
Thus, southern California will increasingly become unlivable, with millions more people competing for way less water. But then, the entire southwest ethos of building megapolises in semi-arid and desert areas with little or no thought given to long-term consequences and resource depletion is, almost by definition, insane, isn’t it?
Meanwhile, golf courses continue to be built in deserts. Madness.
Bob Morris @ Jun 25th 2007 00:08 - Category: Unfiled ;
Yet another bungee trip. Two weekends ago I was in S.F., this past weekend in the D.C. area. Photos taken at U.S. Botanic Garden.
Orchid
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