#196 a new financial world emerging?

It seems the global financial crisis we’re experiencing at the moment is deeper and more serious than anticipated.

The collapse of Lehman Brothers has caused domino effect on many financial institutions creating turmoil, tsunami, hurricane… Is this the true face of credit crunch?

Below a video clip of NY trader Arthur D Cashin Jr with almost 50 years of experience on turbulent times — the fear today is “Who can I trust to trade with?”

http://news.bbc.co.uk/1/hi/business/7624984.stm.

Will there come a time when there will be no American-based investment banks at Wall Street? A new financial world emerging?

Are we heading towards the Great Depression?

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#98 global rice grain crisis

I’m boggled at the escalating increase in the price of grains, especially rice. The poor in countries like Haiti, Philippines, Bangladesh and others took to the streets in protests and violence…

Due to climate change, for instance, drought in Australia but what about other rice growing countries?

An assumption that the rise of India and China economically, people will consume more rice.

I believe the more wealthy a country, the more meat consumed and less rice.

It’s the poor that will consume more rice. Is this a case when the poor can afford to eat a little more that has excerbated the present condition…certainly not!

I can understand the reason for grains like corn due to biofuels…but rice?

I grew up wondering about excess grains produced in the US being dumped rather than feed the poor in parts of the world — and told this was one way to stabilise the price of grain internationally!  

Is this the result of hoarding in some countries that produce such and many nationals hoping for commodity price to increase to make their millions? Will the bubble burst eventually as suggested by some pundits?