Debt Rattle December 22 2014

[Raúl Ilargi Meijer]

Russell Lee Secondhand store in Council Bluffs, Iowa Dec 1936 • Age of Plenty Seen Over for Gulf Arabs as Oil Tumbles (Bloomberg) • Ready for $20 Oil?
[See the full post at: Debt Rattle December 22 2014]

[V. Arnold]

Screw petroleum; it’s the olive oil I’m concerned with.
The amount I use in cooking is absolutely obscene… 😉

[Diogenes Shrugged]

V. Arnold: As I understand it, olive oil is heat labile. Coconut oil and avocado oil are far more stable and therefore useful for cooking. Olive oil should be reserved for salads and sipping. Salut!

[jal]

Here is what you can do when you can print money.

https://news.yahoo.com/construction-begin-controversial-nicaragua-canal-003625983.html
Construction will begin with the first access roads at the mouth of the Brito River on the Central American country’s Pacific coast.
Wang’s Hong Kong Nicaragua Development Investment (HKND) company says 300 workers will build the roads and a port, the first of 50,000 people who will be hired to construct the massive 280-kilometer waterway connecting the Pacific Ocean and the Caribbean Sea.
Last year, Ortega’s allies in Congress fast-tracked legislation granting HKND a 50-year concession, renewable for another 50, to build and operate a canal in return for a payment of $10 million a year once it’s up and running. The law lets HKND develop ancillary projects — ports, an airport, roads, a railway — even if it doesn’t get built.
https://hknd-group.com/portal.php?mod=list&catid=36
The integrated Nicaragua Grand Canal project will include the following 6 sub projects: Canal (including locks), 2 Ports, a Free Trade Zone, Holiday Resorts, an International Airport and several roads. In addition, there will be construction of a power station, cement factory, steel factory and other related facilities to ensure the successful completion of the canal within 5 years.

https://america.aljazeera.com/articles/2014/12/22/nicaragua-canal-tobreakgroundamidangerskepticism.html
Workers were set to break ground Monday for the construction of Nicaragua’s controversial $50 billion canal linking the Pacific Ocean and the Caribbean Sea. The mega-project — widely reported as the world’s largest civil engineering enterprise
Construction was set to begin at the mouth of the Brito river on Nicaragua’s Pacific coast. If completed, the canal will then run across Lake Nicaragua, through rainforest and at least 40 villages requiring resettlement. The canal will then terminate at the mouth of river Punta Gorda in the southern Caribbean.
Rather than dredge the lakebed to make it deep enough for large vessels, Talavera said, the project will use machines to suction the soil in order to keep upturned sediment from clouding the water and shutting down photosynthesis.

[rapier]

$50bn? Well if they can build empty mega cities why not. Well either we are right or we are wrong. Either debt means something and must be paid back or it doesn’t. If the latter than XX thousands of years of human existence dominated by want and need were simply a mistake. The mistake of not having enough money. Don’t ask how money based upon debt which isn’t paid back makes any sense. It makes my brain hurt.

One possible irony is that if this project is successful long term, because industrial civilization has march on, then most of the canal won’t be needed in 150 years. The sea level will be up 50 feet.

[V. Arnold]

@ Diogenes Shrugged

I’m in SE Asia; avocado oil is not available and the only coconut oil is virgin and ฿400 for 500ml.
A decent Spanish extra virgin olive oil is ฿400 for 1 litre. ฿33 = $1 USD
There is also rice bran oil. I normally stick with historically proven foods and avoid fads and the latest greatest…
Refrigeration (after opening) takes care of the heat problem and also light exposure.
I was being a bit tongue-in-cheek because there will be a shortage of olive oil due to diseased trees in Italy and Spain.
Our diesel consumption is such (low) that I’m not much concerned with the price at the pump.
Cheers

[Author]

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