NightBlogger

John Robb
Global Guerrillas
The global financial and economic system is in broad failure. Hoarding, at least among the wealthy and the corporate, is rampant. Trust has evaporated. Worse, western nation-states (from the US to Ireland to Russia) are following historical patterns of response — massive bail-outs of the financial sector. Unfortunately, this crisis is ahistorical (a black swan). Why? The global financial system is much LARGER, FASTER, and COMPLEX than the nation-states that are trying to bail them out. As a result, nation-state intervention won’t return things to the status quo. What it will do, however, is tightly couple western nation-states to the now inevitable failure in the financial system (this is akin to lashing a dingy to the Titanic to prevent it from sinking). The rampant proliferation of bankrupt and hollow states is now likely inevitable.

AOL.com
YANGON, Myanmar (May 13) - The United Nations said Tuesday that only a tiny portion of international aid needed for Myanmar’s cyclone victims is making it into the country, amid reports that the military regime is hoarding good-quality foreign aid for itself and doling out rotten food.

The country’s isolated military regime has agreed to accept relief shipments from the U.N. and foreign countries, but has largely refused entry to aidworkers who might distribute the aid.

Two U.S. planes have already delivered aid to the country, and, in an apparent broadening of the initial agreement, the government seemed willing to allow future shipments.
Click here for latest Myanmar photos

Photo courtesy of StormyDog

As farmers confront mounting costs and riots erupt from Haiti to Egypt over food, farmers pay the price for Wall Street’s speculation in grain markets. “It’s the best of times for somebody speculating on grain prices, but it’s not the best of times for farmers. The demand for futures exceeds the demand for cash grains.” Commodity investors control more U.S. crops than ever before, competing with governments and consumers for dwindling food supplies. Demand is rising with population and income gains in Asia, while record energy costs boost biofuels consumption, sending grain inventories to the lowest levels in two decades.
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