Friday, November 23, 2012

Links 11/23/2012 + A story from Bulgaria:Welcome to your future dear PIIGS worker

  • Brent to eclipse US crude as world oil benchmark (livemint)
  • Iran doesn't like the dollar - in fact, Iran has been calling for an end to the current "petrodollar" system for years, and this is obviously the biggest reason why America has branded it as a "terrorist-state": Iran urges use of alternative currencies in global trade (PressTV)
  • Saudi Arabia Plans $109 Billion Boost for Solar Power (Bloomberg) - Why sell your oil now, when you can just save it for the future, when the "petrodollar" system is over and oil has been reprices MUCH higher in dollar terms (as the dollar is heading for hyperinflation and everyone who is everyone knows it)
  • What about all those alternative power sources? Well, they are not proving to be as efficient as we once hoped them to be, so, at least for now, we all "have to" pay the price by substituting winds and solar farms, as they cannot be profitable enough by themselves: Energy bills to rise by £170 a year to fund wind farms
  • China today confirmed the first successful carrier landings of its J-15 fighter aboard its first aircraft carrier the Liaoning (BusinessInsider)

And what about the West's demise? Here are some of the latest news:
  • After France, Britain's AAA credit rating returns to the spotlight (Telegraph)
  • There are still more than a million young people not in education, employment or training (Neet) in England, despite a dip in the numbers (BBC)
  • Greek Milk Costs More Than Anywhere Else In Europe As Suicide Rate Rises By 37% (ZeroHedge)

As a bonus, here is a very interesting article from Bulgaria: 40.000 Small Businesses in Bulgaria To Go Bankrupt by End-2012.
What does this article show us? Well, it shows us that the model that the ruling class are trying to enforce in the PIIGS countries, if not everywhere ( = improving the competitiveness of the workers by reducing their wages), will never bring back growth. Bulgarian workers are really cheap, but there are even cheaper workers in others countries, so, without any specialized training and education, these workers have a very hard time to find a job, and when they do, they get really low wages...Welcome to your future dear Western worker