Monday, May 24, 2010

Tension Grows

Recent financial headlines shouted "Fear Rules" as the Greek crisis took its toll on the markets.

As economists speculate whether the European meltdown will cause a renewed recession in the US, several other stories add tension to the mix.

The Gulf oil spill has potential to have a HUGE impact that could spread around the globe. The predictive linguistics work at Half Past Human had mentioned an "ocean sickness" and "blue flu" that causes a "big stink", so this unfolding catastrophe could be a major predicitive hit for them. The potential for destruction of sea life is staggering, and the ill effects could be felt inland as toxic fumes spread. HPH has targeted July 8 as an important shiftng point, and November 8-11 later this year as marking a major "release of building tensions".

This is also a story of corporate greed run amok, as one of the surviving crewmen from the drilling platform tells of the representitive from BP ordering the crew to disregard safety and speed up operations because of cost concerns. It appears that the oil well blowout was caused by the blatantly dangerous decision to press forward despite clear indication that the wellhead had been damaged. Afterthe blowout, the chief of BP had the audacity to tell the press that the drilling contractor was in charge of the operation, so it couldn't be BP's fault. Look for a major congressional inquisition to follow on this one. The oil still gushes unabated, and it's anyone's guess when it will be stopped.

Meanwhile, tensions are building on the Korean penninsula. Many are unaware that a state of war still officially exists, and how quickly the bloody conflict broke out 60 years ago. It's difficult to conceive how "Dear Leader" Kim, as deranged as he may appear, could pull the trigger on another conflagration. No strategic purpose would be served, particularly if the North fired off a nuke, since it's well understood that the US forces in the South rely on tactical battlefield nukes for deterrence. An attack on the South could result in a huge radioactive crater north of the DMZ, since that would be the only practical defense of Seoul, due to it's proximity to the border and the sheer size of the North Korean forces.

Is Kim really so deranged as to tempt fate? Evidence suggests that the sinking of the South Korean ship was the result of chest-pounding machinations by a North Korean general, and tacitly supported by Kim because it helped solidify his grip on the military. Of course, giving in to South Korean demands for an apology would be tantamount to suicide. A war could conceivably result from ego-fueled miscalculation, just as road rage sometimes leads to escalating acts of violence.

I just read up on Korean war history, and have an uneasy feeling that more news is going to originate in that part of the globe soon. Wars and economic depressions seem to run in cycles, and we could be due for both.

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