Oil Prices still in mid 130s—hasn’t passed 140 yet. Gas prices here have been about the same for a full 7 days.
Midwest Floods have just ruined a lot of Iowa and a chunk of Indiana. Soybean and corn crops particularly were hit with the flood in their fields. All those people didn’t have flood insurance either—is this is a tragedy beyond Katrina? In a way because of the agriculture affected. And we haven’t heard anything about the insurance claims or agents that are out in the area because of the floods. I’ll bet that will rival or surpass Katrina, too.
One blog today said that if oil prices were to double from what they are now that food prices would double as well.
The whole chain of being seems ready to come apart—oil prices, energy prices, gasoline prices, so hauling prices are more, food prices, all other kinds of goods are rising in price, service prices will go up, electricity generating prices go up, so utility bills go up. The Midwest floods will swell the communities below Iowa as the flood waters move down the Mississippi river. Will this cut off transportation because of freight lines and highways being under water?
On the Newes Hours on PBS on June 16th: 20 percent of the corn and soy crops in Iowa are a loss.
Re the impressive Tim Russert: He died of a sudden heart attack last Friday. His dr. said he had some heart disease and diabetes. He had a massive heart attack when placque broke loose in his arteries and clogged the blood flow to the heart. Maybe with a defilbrillator he could have been resuscitated maybe not—it was a sudden cardiac death. I don’t know if Mr. Russert knew how bad it was or was doing anything about it.
On the other hand, if the world is really doing to deteriorate and get really bad, how much do we want to stave off things like sudden cardiac death if there is no Medicare, health care or emergency services?