{"id":25386,"date":"2017-09-08T13:35:21","date_gmt":"2017-09-08T18:35:21","guid":{"rendered":"http:\/\/olduvai.ca\/?p=25386"},"modified":"2017-09-08T13:35:21","modified_gmt":"2017-09-08T18:35:21","slug":"swamp-fever","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=25386","title":{"rendered":"Swamp Fever"},"content":{"rendered":"
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Swamp Fever<\/a><\/h3>\n<\/div>\n<\/div>\n
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Further proof, as if more were needed, that God is rather cross with the world\u2019s number one exceptional nation: Hurricane Irma is tracking for a direct hit on Disney World. In the immortal words of the Talking Heads: This ain\u2019t no party, this ain\u2019t no disco, this ain\u2019t no fooling around<\/em>.<\/p>\n

Houston is still soggy and punch-drunk, with a fantastic explosion of breeding mosquitoes, and otherwise it\u2019s not even in the news anymore. This week, the cable networks had their scant crews of reporters scuttling around Florida, asking the people here and there about their feelings. \u201cWhat\u2019s gonna happen is gonna happen<\/em>\u2026.\u201d I think I heard that one about sixty times, and there\u2019s actually no disputing the truth of it.<\/p>\n

For the moment, though (Friday morning), it\u2019s a little hard to calculate the effect of a complete scrape-off, wash, and rinse of the state of Florida vis-\u00e0-vis the ongoing viability of the US economy. There\u2019s going to be a big hole with dollars rushing into it and that will likely prompt the combined powers of the US Treasury, congress, and the Federal Reserve to materialize tens of billions of new dollars. Overnight the DXY plunged to a new low for the year.<\/p>\n

Am I the only observer wondering if Irma may be a fatal blow to the banking system? The mind reels at the insurance implications of what\u2019s about to happen. Urgent obligations triggered by an event of this scale can\u2019t possibly be serviced. Look for it to snap the chain of counterparty leverage that has been propping up the banks, insurers, and pension funds on mere promises for years on end. Finance, both private and public, has been feeding off unreality since well before the tremor of 2008. The destruction of Florida (and whatever else stands in the way up the line) will be as real as it gets.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Swamp Fever Further proof, as if more were needed, that God is rather cross with the world\u2019s number one exceptional nation: Hurricane Irma is tracking for a direct hit on Disney World. In the immortal words of the Talking Heads: This ain\u2019t no party, this ain\u2019t no disco, this ain\u2019t no fooling around. Houston is […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,4,7],"tags":[2229,14964,303,940,15807,449,3650],"class_list":["post-25386","post","type-post","status-publish","format-standard","hentry","category-economics","category-environment","category-survival-2","tag-banking-system","tag-clusterfuck-nation","tag-fed","tag-florida","tag-hurricane-irma","tag-james-howard-kunstler","tag-us-federal-reserve"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/25386","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=25386"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/25386\/revisions"}],"predecessor-version":[{"id":25387,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/25386\/revisions\/25387"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25386"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25386"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25386"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}