The Lehman Brothers Debacle Illustrates the Extent of the Global Credit Collapse

You probably saw yesterday’s headline in The Wall Street Journal: Lehman Races to Find a Buyer. Well, well. The once mighty Lehman Brothers Holdings firm had a market capitalization of $47 Billion last year. But when I last looked, it was down to a paltry $2.58 billion. The company is now definitely on the ropes. It is likely that the Mother of All Bailouts (MOAB) is going to grow even larger. There will probably be an announcement made this weekend of a “private” takeover of Lehman–possibly including an overseas “white knight”–but down in the fine print we will learn that …


Letter Re: A SurvivalBlog Reader Prepares for Hurricane Ike

Dear Mr. Editor: Just a quick note to tell you how people that read your blog are preparing for Ike. Thanks for all the great information. I live near Houston in the suburbs, about 60 miles north of Galveston. Most of the stores are open and have plenty of water, drinks, bread, tuna and other canned foods. The stores have done a much better job this time of keeping needed items in stock than they did when Katrina was headed this way a couple years ago. The gas is going fast, and many stations are closed. I filled both my …


Letter Re: National Geographic’s Cover Story on Soil and Food

JWR, Here’s a link to the September 2008 National Geographic cover story about the world’s fragile soils and their diminishing capacity to feed 6.5 billion+ people as well as cautionary examples of places where the soils can no longer support the existing population due to poor stewardship in the past. Pages 92-93 of the hardcopy edition have a great fold out map showing soil fertility areas around the world — a good retreats and relocation general shopping reference (although certainly not detailed enough for researching specific properties). My Best, – Lee in Hurricane Alley


Letter Re: An E-Mailed SurvivalBlog Digest?

Sir, I would like to sign up to get your blogs [via e-mail]; but I can’t see where I do that; Could you please help me. Thanks, – Dianne M. JWR Replies: For the privacy of my readers, I don’t have a digest of my blog that is e-mailed. (I don’t like to keep lists. I don’t even keep records of anyone that makes a voluntary subscription donation.) Just direct your web browser whenever you’d like to read SurvivalBlog. It is updated daily (and I haven’t missed a day since the blog was started three years ago), so you might …


Odds ‘n Sods:

U.K. state memo warns of “anarchy” in the city streets. (Thanks to Florida Guy for the link.)    o o o Yishai flagged this for us, from The Morning Brief: “This could be the mother of year-ends,” Brian Sack, of Macroeconomic Advisers and a former Federal Reserve chief market analyst, tells Bloomberg, which says the Fed may have to increase the cash it provides to banks and brokers beyond already-record levels to help them balance their books at the end of the year in the wake of six bank failures in the past two months and rising concern about Lehman’s …


Jim’s Quote of the Day:

‘What’s good for the goose is good for the gander.’ So, if government financial ‘favors’ are granted to reckless investment firms (Bear Stearns) and now mortgage borrowers, what about other economically vital ‘multiplier’ industries like: automakers, airlines, credit card and insurance companies and even corporate real estate lenders? The logical conclusion for this current drift is hyperinflation. In order to make good on its promises the Federal Government will have to resort to the printing press…with a vengeance. – John Browne


Notes from JWR:

I have some proverbial “good news and bad news” about the upcoming re-publishing of my novel “Patriots: Surviving the Coming Collapse”. First the bad news: Because the publisher’s schedule is packed, the book won’t be available for ordering until March of 2009. The good news: It will probably include both a glossary and an index! Both are quite unusual for a novel, but if J.R.R. Tolkien’s publisher could do it, then so can mine. Perhaps I need to put a map in the frontispiece, with The Rocky Mountains in the place of The Misty Mountains.;-). More details will follow, as …


Energy Dependence and U.S. Military Policy, by Edward C.

“Oil is the world’s most critical resource”, and “without it, nothing works in an industrialized civilization as currently configured”1.“The issue is not whether DoD will be able to obtain the oil it needs to provide for our national defense, because it will”, but “trends in global supply and consumption patterns” serve to further “complicate…the challenge of providing fuel to DoD’s far-flung operations as well as affecting the price DoD must pay for fuel”2. “Historically, no other energy source equals oil’s intrinsic qualities of extractability, transportability, versatility, and cost”3. The qualities that enabled oil to take over from coal as the …


Letter Re: Build it Yourself Farm and Homestead Equipment

Mr Rawles While looking for plans and ideas for a new outbuilding for my home. I found this little gem solid information buried deep in the Countyplans.com web site. It has probably has around 150 plans to build everything from a Turret Lathe and Mill to Cement Mixers and Tractor Scoop Loaders. This stuff is in PDF format, download able and free. The plans are reprints from old do it yourself magazines and are past copyright so there isn’t any legal issues with the downloads Now a lot of these equipment plans would not pass the government’s current nurf world …


Odds ‘n Sods:

With a web search, I came across a couple of Tsunami e-mail alert pages. One for coastal Alaska, coastal Canada, and coastal United States, and one for the entire Pacific Ocean. Speaking of alert e-mails, Weather.com provides free regional e-mail/cell phone severe weather alerts. And, as I’ve mentioned in SurvivalBlog before, anyone interested in radio propagation can get free solar flare alerts. (The latter is also useful for those of use that enjoy watching auroral displays.) But presently, of course, we are at a sunspot minimum.    o o o David F.sent us a link to an article that confirms …


Jim’s Quote of the Day:

While bankers do control the issuance of credit, they cannot control themselves. Bankers are the fatal flaw in their deviously opaque system that has substituted credit for money and debt for savings. The bankers have spread their credit-based system across the world by catering to basic human needs and ambition and greed; and while human needs can be satisfied, ambition and greed cannot-and the bankers’ least of all. – Darryl Schoon


Notes from JWR:

It has now been seven years since the 9/11 terrorist attacks. I give thanks to our servicemen who have helped stop additional attacks here in the States. Please support our troops, not with just lip service and a yellow ribbon magnet on the back of your car, but tangibly, and with consistent regularity. And if you are an employer, then please consider hiring a returning veteran. Is Hurricane Ike headed toward Galveston, Texas? Batten down the hatches, folks. I’m sure that by now, the well-read SurvivalBlog readers on the Gulf Coast have a Plan B and a Plan C, and …


Two Letters Re: The EMP Threat May Be Worse Than We Had Thought

Hi Jim: I understand about an EMP attack and it’s possibilities to wreak havoc. But I can’t help but wonder when I hear about a possible future EMP attack if we are trying to convince the terrorists through disinformation to detonate their nuclear weapons at a safe altitude instead of over the capitol during the state of the union speech. I am thinking that for an EMP attack to be effective they would need at least 4 or 5 high yield nuclear weapons of at least 1 megaton each . These would have to be evenly spread over the US …


Three Letters Re: Welding Oxygen Versus Medical Oxygen

Jim, I write to you again as I pull another EMS duty shift. So far tonight I have had one EMS call and it was a “difficulty breathing” call. Our local law enforcement officers (LEOs) already had the patient on 15LPM. of 02 via non-rebreather mask (NRBM) before we got on scene. The LEOs tend to over inflate, so I titrated the flow down to 8LPM., which worked for the patient’s breathing pattern. I’m glad our LEOs are proactive, but this means that I don’t get a baseline Room Air (RA) 02 saturation for comparison and it does waste some …


Odds ‘n Sods:

C.S.D. mentioned an interesting product with several survival application: Gloshade. Note that these reflectors will also work with infrared chemical light sticks.    o o o More economic news and commentary, courtesy of SurvivalBlog’s Economic Editor: Fannie & Freddie: Buying Friends in D.C., Fannie & Freddie Bailout Destined to Fail as US Debt Doubles, Mortgage Giant Overstated Its Capital Base, Fannie and Freddie: Just the Beginning of the Derivatives Deleveraging Bailout, Lehman Bros. Worth a Big FAT Zero?, Fannie Mae Faces Investor Lawsuit, Berkshire, in Blow to Banks, Reins in its Deposit Insurer, Wall Street Trading Gets Zero Value from …