I see an economic diasater coming...

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â€" Durango: there is neither corn nor beans for domestic consumption; infant malnutrition is up by 50%, and especially bad in Indian communities. There are 1,200 communities without water. The cow cemetary in one municipality is 1 km. wide. 100,000 head of cattle have died in the state.
United States â€" Scrounging for Corn
The largest extent of drought in the contiguous United States was reported last week, by the "Drought Monitor" program of NOAA/NASA/USDA, since it first began doing its weekly map and grid, in year 2000.
The U.S. corn crop, under the persistent heat and dryness, was once again downgraded in the weekly USDA Crop Progress Report issued July 9. Nationwide, corn was rated as only 40 percent "good." This is down from July 2 rating of 48% good, down from 56% the week before, and down from 72% rated good five weeks ago.
Given the already low corn supplies on hand as of last Winter, there now is skirmishing to line up corn in the countryside. Firsthand reports received in past 72 hours, describe some of the dynamics involved in what LaRouche has been forewarning for months. Absolute food shortages, and chaos in the food chain:
* FARMERS FACE FINANCIAL SHOCK from having forward contracted to supply corn they now won't have, and can't obtain. Farmers have been conditioned to be savvy, and to advance buy and sell grain, and advance-contract for inputs â€" called "risk management." But their own crops are withering in the fields, and they cannot line up other sources to fulfull contracts they made, even at any (big loss) price.

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* ETHANOL PLANTS IN SOUTHEAST IOWA are facing financial failure. They have cut back or suspended production, because of the too-high price of corn, or absolute lack of corn. They have been trying to sell their stock; no one is buying. A mass crash of ethanol companies regionally (farmer-owned) is imminent.
* MAJOR ETHANOL COMPANIES, including some big-names based in the Dakotas, are facing failure.
* A FREAKED-OUT MASS-EMAIL WENT OUT MONDAY FROM THE RENEWABLE FUELS ASS'N, attempting to scotch a rumor that there is a corn shortage sufficient to activate a waiver of the Federal mandate for ethanol, the Renewable Fuels Standard, RFS. The email prayed to the market gods: "Ultimately, the market will sort out any imbalances in supply and demand." It went on, "Ethanol producers have tightened their belts in recent weeks and reduced production. Last week's production was the lowest of the year and roughly 10% below levels from January."

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So here are the food shortages that are coming.Drought in 2011 and 2012 and wildfires.Stock up now!triffid

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Major Wall Street and London banks who were part of the LIBOR rate-fixing conspiracy, are facing an expanding number of lawsuits that could cost them an estimated tens of billions of dollars â€" and perhaps much more.
Today's New York Times reports that there is now a pile-on of cities, states, and municipalities to lawsuits filed in Manhattan Federal Court against the banks that set the LIBOR rate, for having ripped off millions from them. These are cities and other government units that have torn up their budgets, laid people off, and in some cases been forced into bankruptcy. This is hugely explosive politically, especially if properly channeled to putting an end to the financial system which created and thrives on such misery, through LaRouche's Glass-Steagall policies.
The City of Baltimore and a pension fund in Connecticut, the City of New Britain's Firefighters' and Police Benefit Fund, are the first to sue, claiming the LIBOR manipulation cost them millions, according to NPR.
"Now, cities, states, and municipal agencies nationwide, including Massachusetts, Nassau County on Long Island, and California's public pension system, are looking at whether they suffered similar losses and are weighing legal action," the Times reports. Peter Shapiro, an investment advisor to Baltimore and other cities, told the Times that "about 75% of major cities have contracts linked to this" â€" the LIBOR fixing. "Unambiguously, state and local government agencies lost money because of the manipulation of LIBOR," said Shapiro. "The number is likely to be very, very big."
The banks targetted include Bank of America, JP Morgan Chase, Deutsche Bank, and Barclays. Darrell Duffie, a Stanford professor of finance, estimates that these lawsuits could result in the banks' having to pay out tens of billions of dollars, an estimate in line with recent report by Nomura Equity Research.
The Times story emphasized the losses to cities, etc. from transactions involving interest-rate swaps, just barely mentioning pension funds which lost income on their investments if interest rates were held artificially low.
The rather unlimited potential of these lawsuits was pointed out a week ago by, among others, the Seeking Alpha blog and the NY Times "Dealbook" blog. UBS and Barclays have already admitted to wrong-doing in their settlements with government authorities, and are cooperating with authorities, increasing the pressure on their co-conspirator banks to do the same. These admissions of misconduct will open the floodgates to civil lawsuits, since the proof of wrong-doing is already on the record. This also opens to door to a massive number of suits under U.S. federal anti-trust and racketeering statutes. Both the Sherman Anti-trust Act and the Racketeer-Influences and Corruption Organizations (RICO) Act allow for triple damages, and RICO furthermore allows for recovery of attorneys fees, an incentive for the filing of class-action cases.

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If you want to know on a daily basis what is happening go to  http://larouchepac.com/  for the latest news with the larouch movement.
In the USA, unemployment is over 50% for ages 18-25.   2/3 of all new employment is low income,part time,and temp. 40% of the wealth of the baby boomers was lost in the last four years.Out of 14 million unemployed, 5 and 1/2 million have no unemployment benefits coming in.
For blacks 18-29 unemployment is over 50% also.triffid


Today at Mcdonalds where I eat breakfast sometimes I heard they had "hired" too many people in a recent hiring binge and now they are cutting the hours of everyone there.A lady who has waited on me in the past left early today and told me that they had cut her hours.