NightBlogger

We face extreme danger. Unless there is immediate intervention on every front by all the major powers acting in concert, we risk a disintegration of global finance within days. Nobody will be spared, unless they own gold bars. During the past week, we have tipped over the edge, into the middle of the abyss. Systemic collapse is in full train. The Netherlands has just rushed through a second, more sweeping nationalisation of Fortis. Ireland and Greece have had to rescue all their banks. Iceland is facing an Argentine denouement.

The US commercial paper market is closed. It shrank $95bn last week, and has lost $208bn in three weeks. The interbank lending market has seized up. There are almost no bids. It is a ghost market. Healthy companies cannot roll over debt. Some will have to sack staff today to stave off default. As the unflappable Warren Buffett puts it, the credit freeze is “sucking blood” out of the economy. “In my adult lifetime, I don’t think I’ve ever seen people as fearful,” he said. We are fast approaching the point of no return. The only way out of this calamitous descent is “shock and awe” on a global scale, and even that may not be enough. More

Source: AMSTERDAM, Netherlands, June 23 (UPI) — Thousands of people in the Netherlands say they expect the world to end in 2012, and many say they are taking precautions to prepare for the apocalypse. The Dutch-language de Volkskrant newspaper said it spoke to thousands of believers in the impending end of civilization, and while theories on the supposed catastrophe varied, most tied the 2012 date to the end of the Mayan calendar, Radio Netherlands reported Monday. De Volkskrant said many of those interviewed are stocking up on emergency supplies, including life rafts and other equipment. Some who spoke to the newspaper were optimistic about the end of civilization.

“You know, maybe it’s really not that bad that the Netherlands will be destroyed,” Petra Faile said. “I don’t like it here anymore. Take immigration, for example. They keep letting people in. And then we have to build more houses, which makes the Netherlands even heavier. The country will sink even lower, which will make the flooding worse.”

Mark Henderson
The H5N1 strain of bird flu that has killed 241 people is not the only one that could trigger a pandemic, according to research in America. A few H7 strains of the flu virus have started to evolve some of the traits they would need to infect people easily, scientists have discovered.

The H5N1 strain has been regarded as the most deadly strain since it appeared in Asia in 2003. Although it has a death rate of more than 60 per cent, it has not yet acquired the ability to move from person to person, which would be a prerequisite for a pandemic.

The H7 family of flu viruses also primarily affects birds. A deadly version of the H7N7 strain hit poultry in the Netherlands in 2003, and a less severe form, H7N2, broke out in the UK last year. Between 2002 and 2004 several outbreaks of H7N3 and H7N2 have been reported. In each of these incidents a few human cases of infection have been reported. One vet died during the Dutch outbreak and about 80 people suffered conjunctivitis, an eye infection that is not life-threatening. More