Thursday, January 01, 2009

Could the U.S. dollar be worth 40 percent less by next Chritmas?‏

Dick McManus

FORECAST FOR 2009
By
Jim Kunstler (author of the book the future after peak oil, The Long Emergency)

A summary of his commentary:

December 28, 2008: I worry that the avalanche of troubles already ongoing will overwhelm Mr. Obama and his people. ... President Obama's ( role will be) largely symbolic -- as a reassuring presence encouraging the distressed public to bravely bear their hardships, and to be kind and helpful among their neighbors.
This is an idle hope, and 2009 will be very sobering for those who imagine that hybrid cars, or electric cars, or natural gas cars, or any other kind of car technology will save the day. Even if President Obama mounts an "infrastructure stimulus" program, it will not keep up with all the necessary routine road repair that our highway system requires. The extreme financial hardship faced by localities and states insures that they will have to postpone a lot of expensive highway maintenance -- even if the federal government fixes a big bunch of bridges and tunnels -- and so we face the interesting prospect that our roadway systems will enter their own deadly zone of systemic failure even before the whole car issue is settled.
The car is going to fail in manifold ways whether we like it or not, and it will fail due to circumstances already underway. For one thing, it will cease to be democratic as the
remnants of the middle class find it impossible to get car loans, or pay for fuel, or insurance, and that will set in motion a very impressive politics-of-grievance setting apart those who are still able to enjoy motoring and those who have been foreclosed from it.
Contrary to what you might make of the the current situation in the oil markets, we are in for a heap of trouble with both the price and supply of petroleum (more on this below). And there is no chance in hell that any techno rescue remedy to keep all the cars running by
other means will materialize.
We could see the start of serious inflation sometime in 2009. To some extent, all currencies are now free-falling together, but the situation of the U.S. dollar is so grotesquely dire, An inflationary campaign to avoid compressive deflation can so easily lead to a fiasco of super or hyper inflation -- the kind that kills governments and turns societies into murderous monsters. I'll forecast the that the U.S. dollar is worth 40 percent of its current value by next Christmas.
By May of 2009, the stock markets will resume crashing with the ultimate destination of a Dow 4000 before the end of the year. Meanwhile, jobs will vanish by the millions and companies will go bankrupt by the thousands, especially in the so-called service sector, and in all the suppliers of such, along with the landlords in all the malls and strip malls. the consumer economy is dead, and that there is no more available credit
of the kind that Americans are in the habit of enjoying.
In 2009, we will discover that we are a much poorer nation than we thought because from now on credit will be extremely hard to get for anyone for anything. The businesses that survive will have to keep going on the basis of accounts receivable. This is the area where the crash of giants will be heard. ... (there will be a) comprehensive downscaling in all our activities, from farming to business to schooling to governance, will be the categorical imperative of the years ahead. The federal government will tend to flounder just as General Motors, Citicorp, Target Stores, and other gigantic enterprises will tend to flounder.
Counties, municipalities, and states will join in the bankruptcy fiesta. It would be reasonable to expect collapsing services as a result. This would be a situation fraught with danger -- of rising crime, of public health emergencies as water systems are not kept up and sewage treatment becomes unaffordable. I don't imagine the federal government stepping into every Podunk or Metropolis from sea to shining sea and propping up these services. People will have to cope with danger and deprivation.

A lot of families will lose everything. They will sift and disperse into the housing
owned by other family members -- parents, siblings -- and a strange new not-altogether comfortable kind of togetherness will become common. Over time, a lot of people will go looking for casual work "under-the-table"( and probably low-paying). To some degree, these workers will begin to look and act like a new servant class, and before too long they may be absorbed into the households of people who employ them. There will be plenty of room for them there.

2009 may be the point where we begin to understand what kinds of places will be more hospitable to human society further ahead. I maintain that our giant urban metroplexes have way overshot their sustainable scale and will contract severely. With all the economic hardship, we ought to expect a lot of demographic churning, people leaving hopeless places and moving on to something more promising. I believe we will see them move to smaller towns and smaller cities. The reorganization of the rural landscape into smaller-scaled farms has not begun to occur -- though 2009 might be very hard on
agribusiness, given the shortage of capital and if oil begins to march up in price by late winter. Eventually, the rural landscape will require the labor of many more people than is currently the case. Whatever else happens, 2009 will surely see a massive return to home
gardening as budgets become strained to the extreme.
Jim Hansen's Master Resource Report says that gasoline consumption dropped from 9.29 million barrels a day in 2007 to 8.99 million barrels a day for 2008. That's not much of a fall-off, especially compared to the price drop. So much capital is leaving the oil production-- system and so the hope of offsetting very-near-future depletions in old giant oil fields looks dimmer and dimmer.

Mexico's super-giant Cantarell oil field, the second-largest ever discovered after Saudi
Arabia's Ghawar field, has shown a 30 percent depletion rate in the past year alone.
Mexico is America's third largest source of imports My prediction for 2009 is that we will see two things occur, possibly at the same time: a resumption of rising prices, and spot shortages.
China's internal problems are still enormous and worsening. They're in trouble with water, food imports, mass unemployment, and energy. They have locked in some oil contracts
around the world, but they are still susceptible to vagaries in the oil markets and Black Swan events. As the U.S. consumer economy falls into a coma, and the shipping containers from China to WalMart get sparser, the Chinese government will face the wrath of millions of unemployed workers. I believe they will struggle through 2009, perhaps growing more surly as the U.S. dollar inflates and their holdings of Treasury bills begins to look more like a swindle.

Russia may be suffering economically for the moment due to the crash of oil prices, but they are energy resource-rich -- at least for the next couple of decades -- and if they don't like the current price, they can keep more of their oil in the ground until the price looks
more attractive.
Japan import 95 percent of the energy they use.
NOTE: Also see the current issue of Foreign Affairs magazine, "The Great Crash, 2008," subtitle, A geopolitical setback for the West, by Roger C. Altman.

The over-arching geopolitical theme of 2009 will be the end of robust globalism as we've known it for some time. Reduced trade, competition for energy resources, sore feelings over debts and currencies will drive the nations inward or, at least, direct their energies toward their own regions.
The big theme for 2009 economically will be contraction. This contraction will do its work in unpleasant ways, driving down standards of living, shearing away hopes and expectations for a particular life of comfort, and introducing disorder to so many of the systems we have depended on for so long. People will starve, lose their homes, lose incomes and status, and lose the security of living in peaceful societies. It
will become clear that the Long Emergency is underway.
911 Molten steel and fireproofing replaced on the floor hit by the airplanes
There appears to be a remarkable correlation between the floors that had been upgraded with new fireproofing in the WTC towers, in the years preceding 9/11/01, and the floors of impact, fire and failure.
The fireproofing upgrades would have allowed for the exposure of the floor assemblies and the columns for a significant period of time.
The two airplanes that struck the twin towers of the World Trade Center on 9/11 had directly impacted secure computer rooms in bothbuildings:
· the first on the 95th floor of the North Tower;

· the second on the 81st floor of the South Tower.

Fuji Bank had reinforced the 81st floor, he said, so the floor could
support more weight. The entire floor was then filled with server-
size Uninterrupted Power Supply (UPS) batteries.

These units were bolted to a raised floor about 3 feet above the
reinforced 81st floor. "The whole floor was batteries," he
said, "huge battery-looking things." They were "all black"
and "solid, very heavy" things that had been brought in during the
night. They had been put in place during the summer prior to 9/11,
he said.
On the 95th floor of WTC 1, Marsh & McLennan had a "large walled
data center," a secure computer room along the north and east sides
of the tower. And that's exactly where the plane hit ­ the north wall
of the 95th floor.
Fuji Bank was the tenant of floors 79-82, yet for some reason the
NIST researchers were unable or unwilling to provide any description
of the contents of these crucial floors ­ four years after 9/11.

http://www.rense.com/general75/thrm.htm
NIST is trying to say that the molten steel was created after the building collapse. How do they know that? If so, why isn’t it mentioned in a 10, 000 page report to show this?
Tons of molten metal found by FDNY and numerous other experts under all 3 high-rises “like lava from a volcano.” Streams of “molten metal which was still red-hot weeks after the event.” “Firemen sprayed water to cool the debris but the heat remained intense enough at the surface to melt their boots.” The fire was not completely extinguished until over 3 months after 9/11.
Chemical signature of Thermate (high tech incendiary) found in slag, solidified molten metal, and dust samples by Physics Professor Steven Jones, Ph.D.

Examination of the forensic metallurgy of WTC steel “reveal a phenomenon never before observed in building fires: eutectic reactions, which caused ‘intergranular melting capable of turning a solid steel girder into Swiss cheese.’”
The simple facts of temperatures:
  • 1535ºC (2795ºF) - melting point of iron
  • ~1510ºC (2750ºF) - melting point of typical structural steel
  • ~825ºC (1517ºF) - maximum temperature of hydrocarbon fires burning in the atmosphere without pressurization or pre-heating (premixed fuel and air - blue flame)
Diffuse flames burn far cooler.
Oxygen-starved diffuse flames are cooler yet.
The fires in the towers were diffuse -- well below 800ºC.
Their dark smoke showed they were oxygen-starved -- particularly in the South Tower.

November 22, 2004
SOUTH BEND -- The laboratory director from a South Bend firm has been fired for attempting to cast doubt on the federal investigation into what caused the World Trade Center's twin towers to collapse on Sept. 11, 2001.
Kevin R. Ryan was terminated Tuesday from his job at Environmental Health Laboratories Inc., a subsidiary of Underwriters Laboratories Inc., the consumer-product safety testing giant.
On Nov. 11, Ryan wrote a letter to the National Institute of Standards and Technology -- the agency probing the collapse -- challenging the common theory that burning jet fuel weakened the steel supports holding up the 110-story skyscrapers.
Underwriters Laboratories Inc., according to Ryan, "was the company that certified the steel components used in the construction of the WTC buildings."
Ryan wrote that last year, while "requesting information," UL's chief executive officer and fire protection business manager disagreed about key issues surrounding the collapse, "except for one thing -- that the samples we certified met all requirements."
UL vehemently denied last week that it ever certified the materials.
Ryan wrote that the institute's preliminary reports suggest the WTC's supports were probably exposed to fires no hotter than 500 degrees -- only half the 1,100-degree temperature needed to forge steel, Ryan said. That's also much cooler, he wrote, than the 3,000 degrees needed to melt bare steel with no fire-proofing.
"This story just does not add up," Ryan wrote in his e-mail to Frank Gayle, deputy chief of the institute's metallurgy division, who is playing a prominent role in the agency investigation. "If steel from those buildings did soften or melt, I'm sure we can all agree that this was certainly not due to jet fuel fires of any kind, let alone the briefly burning fires in those towers."

In an effort to better understand the conditions that led to complete collapses of the World Trade Center Towers and WTC 7, we apply scanning-electron-microscope (SEM) and energy dispersive x-ray spectroscopy (XEDS) methods to analyze the dust generated, with an emphasis on observed micro-spheres in the WTC dust.

The formation of molten spheres with high iron contents along with other species in the

WTC dust required extremely high temperatures. Our results are compared with those of other laboratories. The temperatures required for the molten sphere-formation and evaporation of materials as observed in the WTC dust are significantly higher than temperatures associated with the burning of jet fuel and office materials in the WTC buildings.

The temperatures required for the observed spherule-formation and evaporation of materials observed in the WTC dust (table 1) are significantly higher than temperatures reachable by the burning of jet fuel and office materials in the WTC buildings (table 2). The temperatures required to melt iron (1,538 °C) and molybdenum (2,623 °C), and to vaporize lead (1,740 °C) and aluminosilicates (~2,760°C), are completely out of reach of the fires in the WTC buildings (maximum 1,100 °C). We wish to call attention to this discrepancy: the official

view implicating fires as the main cause for the ultimate collapses of the WTC Towers and WTC 7 (FEMA [13], NIST [15] ) is inadequate to explain this temperature gap and is therefore incomplete at best.

The formation of numerous metal-rich spherules is also remarkable, for it implies formation of high-temperature droplets of the molten metals, dispersed in the air where they cool to form spherules. We observe spherules with high iron and aluminum contents, a chemical signature which is not consistent with formation from melted steel.

The data provide strong evidence that chemical reactions which were both violent and highly-exothermic contributed to the destruction of the WTC buildings. NIST neglected the high-temperature and fragmentation evidence presented here: it appears nowhere in their final report [15]. Proposed new building codes based on the WTC disaster must address all available evidence for what caused the complete and rapid destruction of these skyscrapers. Understanding the mechanisms that led to the destruction of the World Trade Center will enable scientists and engineers to provide a safer environment for people using similar buildings and benefit firefighters who risk their lives trying to save others. Thus, a thorough investigation which considers these data, showing extremely high temperatures and severe fragmentation in the formation of small metal-rich spheres

during the WTC Towers destruction, is highly motivated. In particular, the repeatedly-delayed report on the destruction of WTC 7 on 9/11/2001 [21] should address these striking facts.

The extensive evidence that explosives were used at the WTC includes witness testimony (MacQueen 2006), overwhelming physical evidence (Griffin 2005, Hoffman et al 2005, Jones and Legge et al 2008) and simple common sense (Legge 2007). There is also substantial evidence that aluminothermic (thermite) materials were present at the WTC

(Jones 2007), and the presence of such materials can explain the existence of intense fire where it would not otherwise have existed. Additionally, despite agreement from all parties that the assumed availability of fuel allowed for the fires in any given location of each of the WTC buildings to last only twenty minutes (NIST 2007), the fires lasted much longer and produced extreme temperatures (Jones and Farrer et al 2008).

It turns out that explosive, sol-gel nano-thermites were developed by US government scientists, at Lawrence Livermore National Laboratories (LLNL) (Tillitson et al 1998, Gash et al 2000, Gash et al 2002). These LLNL scientists reported that --

"The sol-gel process is very amenable to dip-, spin-, and spray-coating technologies to coat surfaces. We have utilized this property to dip-coat various substrates to make sol-gel Fe,O,/ Al / Viton coatings. The energetic coating dries to give a nice adherent film. Preliminary experiments indicate that films of the hybrid material are self-propagating when ignited by thermal stimulus"

(Gash et al 2002).

The amazing correlation between floors of impact and floors of apparent failure suggests hat spray-on nano-thermite materials may have been applied to the steel components of the WTC buildings, underneath the upgraded fireproofing (Ryan 2008). This could have been done in such a way that very few people knew what was happening. The Port Authority’s engineering consultant Buro Happold, helping with evaluation of the

fireproofing upgrades, suggested the use of "alternative materials" (NIST 2005). Such alternative materials could have been spray-on nano-thermites substituted for intumescent paint or Interchar-like fireproofing primers (NASA 2006). It seems quite possible that this kind of substitution could have been made with few people noticing.

http://journalof911studies.com/volume/2008/Ryan_NIST_and_Nano-1.pdf

"Conspiracy" just means, more than one person being involved in something.
Genuine Conspiratorial Politics, what is that?
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