SAR #12270

If it violates your religion to vaccinate your children, get another religion.

Nowhere to Hide: New data suggest that global warming is costing the global economy $1.2 trillion a year in lost output, and about 4.5 million 'extra deaths'. This will grow to an 11% decline in global GDP by 2030 and 100 million 'extra deaths'. That's the down payment. After that things will get bad.

The Barber of Athens: Greece seems likely to default again, this time with haircuts all around. Seville's turn will come.

Quoted: It is “critically important that we not think of these new [voter suppression] laws as anything particularly ‘new’. They are but restatements of our oldest pathologies. A deep-seated fear of bestowing full American citizenship on non-whites, and particularly on blacks”. Ta-Nehisi Coates

Small Business Failure: Like many other small start-ups, Rafalca - Ann Romney's horse - has gone out of business.

What Goes Around... Yes, Social Security is an inter-generational transfer of funds. It raises the question of why we should look after the old – who cannot do much of anything to benefit us. Why? Because we'll damn well want someone to look after us when we're old, that's why.

Shocking: So far the Fed's QE/MBS buying spree is propping up profit margins at banks without benefiting would-be home buyers and those seeking to refinance.

Drive On: China has built 20,000 miles of expressways in the last 5 years. It is already the largest car maker and fast becoming the largest car buyer. Maybe they should send a delegation to the US to look at what the automobile has done to us, then look at our (oil) wars and our car-centric cities and our patterns of living and ask themselves if they really want to follow us down this road.

Future Tense: Camden, NJ, is considered (1) the poorest city in America, (2) the deadliest city in America. So, as any good insolvent city should do, it is cutting back on the frills it once could afford, like a police force.

Stopped Clock: Ralph Nader, who has said a lot of things over the years, now says that President Obama is a war criminal.

Liar's Poker: Iran claims that Siemens had put explosives in equipment it sold to the Iranians. Siemens responded that it “maintains no business dealings in connection to the Iranian nuclear program...” It is unclear if sending them booby trapped equipment would violate the trade embargo.

Datapoint: Half of Americans earning less than $30,000 a year have less than $100 in savings. More than half of Americans with children under 18 have less than $800 in savings.

Something's Going To Give: In 2005, there were 33 petroleum-exporting nations. Now there are only 30, Global oil exports have declined from 45.6 million barrels a day in 2006 to 43.7 mbd in 2011, in the face of increased demand from Asia and a fourfold increase in price. The competition for dwindling global oil exports is the driving force behind record high oil prices. For now, the US is still the largest net importer of petroleum products, but by 2030 China and India will want all of the available petroleum exports. All. The largest oil field in the Caspian has had a decline rate of 8.4% a year since it peaked 2 years ago. Production from the major fields in the Gulf of Mexico is declining more than 20% a year. The North Sea, over the last two years, has a decline rate ove 9% a year - in spite of 'new oil' that has come on line. And Saudi Arabia - the mother lode - is expected to reach zero petroleum exports by 2030 as its internal consumption and its falling production leave nothing for export. And by 2060 no producing nation will have any oil available for export. Plan accordingly.

Apology: The University of California at Davis is reportedly offering $1 million to settle the 'pepper-spraying cop' incident. Each of the victims will also get a personal letter from Chancellor Linda Katehi, suitable for framing.

The Parting Shot:

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White out.