Thought for the day

"The world is a dangerous place, not because of those who do evil, but because of those who look on and do nothing." -- Albert Einstein

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At some point in late 2022, the eight billionth human being will enter the world, ushering in a new milestone for humanity.

In just 48 years, the world population has doubled in size, jumping from four to eight billion.

The Nord Stream Pipelines attack may end up being an environmental disaster to equal the Fukushima disaster, with the release of millions of cubic metres of methane-gas into the environment, from the attack and in an attempt to save the pipelines.

It has been reported that the Russians are having to maintain gas-flow through the Russian end of the pipelines to prevent seawater entering and starting a process that, once started, never ends – rusting. Rust never sleeps once it has started.

A federal watchdog has found that $45.6 billion may have been scammed out of the nation's unemployment program during the pandemic, as fraudsters used a variety of methods to commit fraud - including using the Social Security numbers of dead people, hard-to-trace emails, and the identities of prisoners who were ineligible for aid.

The average US homeowner saw their monthly mortgage payment rise by 15 percent or $337, according to a shocking new report from Redfin. 

The report goes on to say that the rising mortgage rates of around seven percent are the highest since July 2007 shortly before crash that triggered the great recession. 

This is causing potential homebuyers to get cold feet and decide not to buy in the current market. 

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Moscow has repeatedly warned European nations that the decision to cut themselves off from Russian energy would mean the collapse of entire sectors of the European Union’s economy. On Friday, President Putin accused the perpetrators of the attacks on Nord Stream of embarking “on the destruction of Europe’s entire energy infrastructure.”

Without Russian gas, Europe’s dependence on America is all but guaranteed, Welt business observer Daniel Wetzel has indicated.

The damage to Russia’s Nord Stream 1 and 2 pipelines means Europe is indefinitely deprived of one of its key gas supply routes, Gazprom spokesman Sergey Kupriyanov said on Friday.

Technical data “allows [Gazprom] to say with certainty” that the sharp pressure drops were caused by physical damage, the spokesman stressed.

According to him, at the time of the incident, the pipelines were not transporting gas, but both were filled with 800 million cubic meters of gas and ready for service, equivalent to Denmark’s consumption for three months.

It's not just heating that could be missing across Europe this winter: cell phones may be the next to go. That's because if power cuts or energy rationing knocks out parts of the mobile networks across the region, mobile phones could go dark around Europe this winter according to the latest doomsday reporting from Reuters.

Disney is laying off 28,000 workers. American Airlines and United Airlines plan to cut 31,000 workers. Last week's disappointing unemployment report shows that we have a long way to go. Perhaps a lot longer than we think.

I’m going to quote at length from my friend David Rosenberg, who I believe is absolutely spot on:

"You tally up these sectors and before the crisis, they supported 32 million jobs, or about a third of the private sector workforce, and it looks to me as though half of them are not going back to their old jobs.

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State regulators Friday asked a judge to place a property-insurance company in receivership, making it the sixth Florida property insurer declared insolvent this year amid widespread financial problems in the industry.

The Florida Department of Financial Services sought to be appointed receiver for FedNat Insurance Co., which canceled 56,500 policies in May and reached an agreement to transfer about 83,000 policies to another company in June.