Archives for October 2012

NY Subway May Take Weeks to Restore Service, 5 Million Affected; 80 Flooded Homes Destroyed by Fire; Stunning Flood and Fire Images

Courtesy of Mish. Hurricane Sandy has moved on but the damage remains. The following picture of Times Square posted on Gizmodo caught my eye. Fortunately, it does not look real. Lights should not be on and there would be debris everywhere. However, the Metra chairman did say water was “literally up to the ceiling” at […]

Secessionist Movements: Another Layer of Complexity

Courtesy of John Rubino. One of the lessons of medieval history (I’m listening to one of those recorded lecture series on the subject this week) is that Europe wasn’t always made up of today’s familiar countries. Italy, Germany, and Spain in particular started out as a patchwork of smaller kingdoms and principalities that were eventually […]

Greece Coalition Splinters, Austerity Vote Delayed, PM Warns of ‘Chaos’; Another Puppet Show or Is This For Real?

Courtesy of Mish. In Greece, Prime Minister Antonis Samaras coalition has split. The result is yet another delay in an austerity vote required for the next tranche of loans to Greece, and the PM warns of ‘chaos’. Greece’s conservative Prime Minister Antonis Samaras is at odds with the Democratic Left party, a coalition partner, which […]

How “Brazen” does a Banker’s Fraud have to be before he is Prosecuted?

Courtesy of Jaime Falcon. By William K. Black I’ll get the obvious out of the way first and then turn in future columns to the aspects of the Department of Justice’s (DOJ) civil suit against Bank of America (B of A)/Countrywide that are vital to understand but are more subtle.  The obvious issue arises from the […]

Officials Warn New Yorkers: Stay Inside

Courtesy of Pam Martens. New York Stock Exchange — Shuttered for the Second Day in a Row At 6 a.m., New York Governor Andrew Cuomo reported that there are 1,943,572 New Yorkers without power.  Con Ed is reporting that power is out in lower Manhattan below 39th Street with an estimated 250,000 people in Manhattan […]

Massive Flooding in New York Subways and Tunnels

Courtesy of Pam Martens. Port Authority of NY and NJ Released This Photo of Water Rushing Out of an Elevator Shaft Into a Hoboken, NJ Path Station October 30, 2012 Joseph Lhota, Chairman of the MTA, released the following statement on the current condition of the New York City subway system: “The New York City subway […]

Apocalyptoween

Apocalyptoween By James Howard Kunstler        With little to do while waiting for something possibly very bad to happen people tend to get jokey. That was how I felt about the election until Hurricane Sandy came along. For one thing, I happened to travel (by car – how else?) last week from Bennington […]

670,000 Without Power in NYC; Flood Crests 13.88 Feet, Besting 1960 Record of 10.02 Feet; Wall Street Flooded

Courtesy of Mish. The good news for New York City is the storm crest has peaked. The bad news is the cleanup will take days, or longer, and much is the city is blacked-out. Please consider Hurricane Sandy’s Waters Flood Blacked-Out New York City. Hurricane Sandy sent floodwater gushing into New York’s five boroughs, submerging […]

Hurricane Sandy: Litmus Test for America’s Utilities

Hurricane Sandy: Litmus Test for America’s Utilities By Jen Alic at OilPrice.com About this time last year, Americans lost faith in their power companies, which failed to respond effectively to restore power outages resulting from a storm. This past summer, a series of outages under less dire weather circumstances demonstrated that the country’s electricity distribution network was bad […]

Hurricane Sandy: how utilities are planning for power outages

Hurricane Sandy: how utilities are planning for power outages (via The Christian Science Monitor) With utility companies analyzing potential storm tracks for hurricane Sandy and deciding just how many utility crews to request to prepare for fallen power lines, Seth Guikema could be their best friend. He is part of a pioneering attempt to help […]

The Scam Wall Street Learned From the Mafia

The Scam Wall Street Learned From the Mafia  By MATT TAIBBI, Rolling Stone Someday, it will go down in history as the first trial of the modern American mafia. Of course, you won't hear the recent financial corruption case, United States of America v. Carollo, Goldberg and Grimm, called anything like that. If you heard about […]

Nation’s Oldest Nuclear Power Plant, New Jersey’s Oyster Creek, Declares Alert Following Water Surge

Courtesy of ZeroHedge. View original post here. Submitted by Tyler Durden. As a reminder, the biggest catastrophe that resulted from last year's Tohoku earthquake in Japan was not the earthquake itself, nor the infrastructure destruction from the susbequent tsunami, but the impact of the soaring water wall on the nuclear power plants in the coastline, […]

85% of Atlantic City Flooded; New York Subway in Jeopardy; Markets Closed Again Tuesday; Hurricane Sandy Image from Space

Courtesy of Mish. As many as 2 million customers are without power as Sandy slammed into New Jersey and New York. The markets will be closed again on Tuesday but may  resume on Wednesday, the final trading day of the month. New York’s mass transit system remains shut and it is unclear when service will […]

Tracking hurricane Sandy: As storm ‘zigs’, it’s also changing dramatically

Tracking hurricane Sandy: As storm 'zigs', it's also changing dramatically (via The Christian Science Monitor) With hurricane Sandy on final approach to formally making landfall near the southern tip of New Jersey late Monday evening, the storm is on the verge of an unusual shift. Even as it makes a left turn to head toward […]

Hurricane Sandy: Litmus Test for America’s Utilities

Hurricane Sandy: Litmus Test for America's Utilities By Jen Alic at OilPrice.com About this time last year, Americans lost faith in their power companies, which failed to respond effectively to restore power outages resulting from a storm. This past summer, a series of outages under less dire weather circumstances demonstrated that the country’s electricity distribution network was […]

Markets look to Bank of Japan for policy action

Markets look to Bank of Japan for policy action (via AFP) Under siege from politicians clamouring for urgent action on Japan's slowing economy, the nation's central bank was expected Tuesday to usher in fresh easing measures after its policy meeting. The Bank of Japan, hounded by calls to take stronger action to shore up the […]

Hurricane Sandy: Live Report

Hurricane Sandy: Live Report (via AFP) 2239GMT: My colleague Sebastian Smith in Atlantic City is on the beach right now. "There are many rows of waves coming all the time. The sea level is already well above where it should be," he says. Wooden cabins that are part of a hotel complex are already flooded […]

The $100 Billion Storm: 17 Things You Should Know About Hurricane Sandy

The $100 Billion Storm: 17 Things You Should Know About Hurricane Sandy Courtesy of Michael Snyder of Economic Collapse   Meteorologists are warning that Hurricane Sandy could potentially be the worst storm to hit the east coast of the United States in 100 years.  Do you remember "the perfect storm" back in 1991? That storm […]

Mega Storm Sandy Tweets and Links and Live Weather Channel Feed

Courtesy of Lee Adler of the Wall Street Examiner I will be tweeting and retweeting interesting posts about the storm from a variety of sources over the next few days, in particular from the Philly media covering the region where the center of the storm will make landfall and move inland. Check out my feed […]

Why Energy May Be Abundant But Not Cheap

Courtesy of Charles Hugh-Smith Of Two Minds It doesn’t matter how abundant liquid fossil fuels might be; it’s their cost that impacts the economy. Many people think “peak oil” is about the world is “running out of oil." Actually, “peak oil” is about the world running out of cheap, easy-to-get oil. That means fossil fuels might […]

Hurricane Sandy Update: First $100+ Billion Storm in U.S. History?

Courtesy of Mish. Sandy is classified as a Hurricane 1 status, a low-grade hurricane. However, don’t let that fool you in terms of impact. It’s not the absolute magnitude of the hurricane, but rather the magnitude vs. what the infrastructure can handle that matters. Barometric pressure is 27.76, the lowest pressure recorded for a storm […]

Battle (against Cancer) is On, and WE are Losing

Cancer fight stalls amid push for profits, doctors say  Excerpt from the Guardian: Only a few years ago, many cancer experts thought the arrival of targeted medicines, designed to attack the genetic makeup of the tumour, would make dramatic inroads into cancer deaths. That has not happened. Instead, these therapies have only bought a few […]

Credibility Trap: Moyers And Barofsky on Failed Reform and Another Financial Crisis

Credibility Trap: Moyers And Barofsky on Failed Reform and Another Financial Crisis Courtesy of Jesse's Cafe Americain  The Bullet and the Bribe This is the second part of the Moyers interview with Neil Barofsky. BILL MOYERS: I thought, at the time, this was an incestuous orgy going on there, between inside players at Washington and inside […]

Hurricane Watch

Real-Time New York City Storm Surge Tracker Courtesy of Zero Hedge  Curious how many feet of water the rats in downtown NYC are under right now? The real-time answer is available, courtesy of the NOAA, and this tide height tracker at New York’s Battery. h/t @cbm1971   Live New York Web (And Sound) Cam with Zero […]