1st National Bank of Nevada and First Heritage Bank, operating in Nevada, Arizona and California, were closed Friday by federal regulators.
The ‘plan’ looks like to announce these closures on Fridays. Wonder which bank is next? Wait till Friday…
>Banks Brace For More Pain Not something Advil is going to help with…
Not related, but interesting, Russia’s military conducts test flights near North Pole. Told you this was going to happen. They’re going North to battle for the oil and gas.
Russia has been increasingly assertive in the Arctic region as global warming makes the area’s oil and natural gas resources more accessible.
Where’s The Outrage? Outrage? What outrage? The American people are sheep, still asleep and uncaring as America careens towards the apocalypse.
“The National Australia Bank’s decision to write off 90 per cent of its US conduit loans will have dramatic repercussions around the world. Wall Street will be deeply shocked when they understand the repercussions of what NAB has done.”
“US banks have written down $450 billion in bad housing loans. The revelation from NAB means that they will now certainly need to take provisions to $1,000 billion. But write-downs of $1,300 billion and perhaps even more are on the cards.” [in other words, the financial crash is still only 1/3 or less ‘the way there’ – and that’s just the housing mortgage market frauds ntm commercial property financing and consumer credit and major industrial (e.g Ford, GM) ‘markets’
How bad is it? “Overall, the financial sector is expected to report total profits of just $8.9 billion in the quarter, down 85% from earnings of $61.3 billion a year ago.”
Now for the REALLY bad news: HUMAN BEINGS FACE OBLIVION FROM GLOBAL WARMING
From Lonewolf: Recent estimates I’ve seen/heard are that current global temps are currently up between 0.8 and 1.5 C not including the masking effect of particulate pollution from industry which is also estimated in this range – and not including the lag time effects of accelerating CO2 and CH4 ’emissions’. In other words, ‘real’ current rise is already in the 2-3 C range and probably another 1+ C in the pipeline even if all fossil fuel combustion halted today. Plus the ongoing thawing of permafrost (CH4) in the arctic, albedo changes at the poles, ocean die-off, etc.
Related: Wetlands Could Unleash ‘Carbon Bomb’
Recently Lonewolf has shared some calculations of the carbon we are presently releasing into the atmosphere from human activity:
I looked up current annual global Carbon ‘consumption’ –
Oil (2008) 87.4 Mbpd or 31.901 B bbl/yr at avg. specific gravity of crude of 7.4 bbl/MT = approx 300 lbs/ bbl (42 US gal, 7.14 lb/gal).
Note – gas 6.1 lb/gal. gasoline is 86% Carbon by mass, ‘average’ crude closer to 92% by mass (weight).
NG (2005) 104 Trillion cu ft /yr growing at 2%+/yr (2008 est) 110.4 T cu ft/yr
at 0.045 lb/cu ft 6.182Trillion lbs = 2.81 B metric tonnes (75% C = 2.108 B MT C // x 3.1 = 6.534 B MT CO2/yr x 16 (below) = 105 Billion barrel oil equivalent/yr
1 Ton of Liquefied = approximately 16 barrels
Methane = approximately 50,000 cubic feet (1400 cubic meters) of natural gas, depending on methane content.
Ethanol (2007) = 920,000 bbl/day (335.8 M bbl/yr)
Coal (2006) approx. (at least) 3.2 Billion tones “oil equivalent” (as energy content, not Carbon content (mass)).
Coal is by far the fastest growing ‘fossil fool’ use – can’t find tonnage claims or 2008 estimate.
3.2B x 2000 = 6.4 T lbs ~ = 1.07 T gal (gasoline) ~= 25 B bbls ‘oil equivalent’ but coal is FAR ‘dirtier’ (more Carbon) than oil.
I ‘think’ (feel) that this estimate is MUCH too low – perhaps by an order of magnitude above (billion barrels/yr).
32 + 105 + 0.34 + 25 = 162+++++ Billion Barrels Oil (or equivalent)/yr – at least, assume at least 90% Carbon by weight
barrel = 300 lbs = 48.6 Trillion lbs
x90% = 43.75 Trillion lbs Carbon (19.85 T kg)
oxidized = 134 Trillion lbs CO2 = (at least) 61 Billion metric tonnes CO2/yr & could be double this
(above is my ballpark estimate).
Chart below shows 8 Billion MT (yeah, right!), the crude oil weighs more than that all by itself) From Wiki