Thought for the day

"I just wonder what it would be like to be reincarnated in an animal whose species had been so reduced in numbers than it was in danger of extinction. What would be its feelings toward the human species whose population explosion had denied it somewhere to exist.... I must confess that I am tempted to ask for reincarnation as a particularly deadly virus." -- Prince Philip, in his Forward to "If I Were an Animal" - United Kingdom, Robin Clark Ltd., 1986.

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Moscow has repeatedly warned European nations that the decision to cut themselves off from Russian energy would mean the collapse of entire sectors of the European Union’s economy. On Friday, President Putin accused the perpetrators of the attacks on Nord Stream of embarking “on the destruction of Europe’s entire energy infrastructure.”

Without Russian gas, Europe’s dependence on America is all but guaranteed, Welt business observer Daniel Wetzel has indicated.

The damage to Russia’s Nord Stream 1 and 2 pipelines means Europe is indefinitely deprived of one of its key gas supply routes, Gazprom spokesman Sergey Kupriyanov said on Friday.

Technical data “allows [Gazprom] to say with certainty” that the sharp pressure drops were caused by physical damage, the spokesman stressed.

According to him, at the time of the incident, the pipelines were not transporting gas, but both were filled with 800 million cubic meters of gas and ready for service, equivalent to Denmark’s consumption for three months.

It's not just heating that could be missing across Europe this winter: cell phones may be the next to go. That's because if power cuts or energy rationing knocks out parts of the mobile networks across the region, mobile phones could go dark around Europe this winter according to the latest doomsday reporting from Reuters.

Disney is laying off 28,000 workers. American Airlines and United Airlines plan to cut 31,000 workers. Last week's disappointing unemployment report shows that we have a long way to go. Perhaps a lot longer than we think.

I’m going to quote at length from my friend David Rosenberg, who I believe is absolutely spot on:

"You tally up these sectors and before the crisis, they supported 32 million jobs, or about a third of the private sector workforce, and it looks to me as though half of them are not going back to their old jobs.

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State regulators Friday asked a judge to place a property-insurance company in receivership, making it the sixth Florida property insurer declared insolvent this year amid widespread financial problems in the industry.

The Florida Department of Financial Services sought to be appointed receiver for FedNat Insurance Co., which canceled 56,500 policies in May and reached an agreement to transfer about 83,000 policies to another company in June.

Historic droughts and threats of water shortages are occurring around the world, as media reports highlight rivers — such as the Loire, Po and Danube in Europe — reaching historic lows.1 In China, a double threat of heat and lack of rainfall has led portions of the Yangtze river basin to go dry, affecting not only crops but also the drinking water supplies of people and livestock.2

A drought is drying up parts of the Mississippi River, a major export channel for corn and soybeans. Barges cannot haul farm goods at full capacity because of shrinking water levels, sparking a vessel shortage that has sent transport prices to record highs. It's another headache for the American farmer this harvest season.

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Vice President Kamala Harris on Friday said "communities of color" have to be prioritized for disaster relief funds to advance "equity" and suggested white people were to blame for hurricanes because they're the main drivers of climate change.