News of the Day
- Libya – Violence continues.
- Saudi Arabia – Provokes Iran.
- Japan – Still recovering from the earthquake/tsunami/nuclear reactor crises.
- Stock market – Tanking globally.
What about President Obama?
- What has the president been doing?
- Where is his passion?
- Even France is saying, “Do something!”
- The president of the Heritage Foundation said today, “It’s as if he is paralyzed.”
There is evil in the world.
Glenn remembered his father saying, ‘Life is a series of choices. But you have to be willing to live with the choices you make and with the consequences that come with them.”’
Now we are being given false choices. For example
THIS OR THAT
Financial Meltdown Hope
Special interests running Change
Government that Open Society
- But what does “Hope” or “Change” or “Open Society” mean? No one is saying.
- He then showed a video of the Japanese dealing with the aftermath of the earthquake – citizens lining up to receive aid, no looting, etc.
- For them it is their 9/12 day, or the 8/28 rally.
- He then showed a video of drunken American college students trying to tip over and destroy a car.
- We will be faced with a choice.
- Will we choose the Japanese example, or the drunken students example?
- You will make a choice, even by not choosing.
Glenn asks that newspapers help him get people prepared for the coming economic meltdown that is more like to happen than all the power plants in California melting down.
Japanese Reactor Update
- Reactor rods exposed – Without coolant, the rods will heat up and melt.
- Nuclear meltdown – Rods melt and the nuclear fuel inside falls down to the bottom of the containment vessel and piles up there.
- The China Syndrome – Not going to happen.
- More explosions – They have been happening.
- It’s Chernobyl – Chernobyl used graphite for cooling, not water like the Japanese reactors.
- Graphite burns and caught fire there and helped to cause the problem.
- Also, the Chernobyl reactor didn’t have a containment vessel.
- Chernobyl and Japan do have one thing in common – heroes.
- Glenn discussed some Chernobyl firefighters rushing to the scene, even knowing of the dangers from radiation.
- Many died.
- Fifty people remain in the Japanese reactors continuing to work the problem.
- Some scientists are even volunteering.
Glenn showed five financial charts.
1. Emerging Markets
4. S&P 500
5. US Dollar
- All the charts covered the same time period.
- They all showed a sharp drop after our financial crisis.
- Then, they all trended up, some faster than others.
Per Glenn, they are all tied together via the U.S. dollar and the rise is due to the Federal Reserve printing money.
Glenn suggests you consider the possibility of the dollar being destroyed. If you don’t plan for the worst, you become part of the problem.
FACTS of Electricity Production in the U.S.
Natural Gas 24%
- There is a major geologic fault line running under Manhattan.
- New York City structures haven’t been built for that.
- We all make choices and consider the odds of bad things happening as part of the choice making process.
- But life is about choices.
- You can make your own choices, or live with the choices made by others.
- If you choose to take away the electricity generated by one of these means, e.g., 20% for nuclear, you must replace it with something else or not use the 20% of the power that is currently produced.
- The real consequences of making those kinds of choices won’t be felt by the rich. Ordinary Americans will feel them.
- Add coal and you are talking about 65% of the total amount of electricity produced.
- If you did away with coal and nuclear for producing electricity, natural gas prices would skyrocket because it is one of the few remaining choices that are available.
- Energy prices would go up ten times.
- Fuel shortages would be rampant.
- Rationing would return. (He holds up a rationing book from WWII.)
- An MIT professor calculated it would take 4,000 five-megawatt wind turbines to meet New York City’s annual electricity needs.
- A typical wind farm is 300 megawatts.
- It occupies a five-mile by five-mile chunk of ocean.
- That is a fact, not an opinion.
- Libya is 2% of the world’s oil production.
- When the violence started there on February 14th, oil was a bit over $84 per barrel.
- In two weeks, it went up 20%.
- The Egyptian riots started because of energy rationing.
- You are not hearing that.
We can choose to move our civilization forward and use the natural resources of oil, coal and natural gas, or we can take a giant step backwards.
Israeli Family Murdered by Terrorists – Update
The father of the mother killed by terrorists was interviewed on the Israeli radio. He expressed pain and sorrow, but did not call for vengeance. That caught people’s attention.