Bad News For World Economy That No One Wants To Hear

Reading the general run of financial headlines might lead one to believe that price declines in those commodities which are highly sensitive to economic conditions such as iron ore, copper, oil, natural gas, coal, and lumber are good on their face.

Obviously, the declines aren’t good for those who sell these commodities. But, those of us who buy these commodities in the form of cars, houses, utility bills and other products and services ought to be helping the world economy as we buy more stuff with the freed up income. Continue reading

Panama stops N.Korea ship over ‘weapon material’

PANAMA CITY (AFP) – Panama’s president said Monday that a North Korean ship captain tried to kill himself after the vessel was stopped en route from Cuba and found to have suspected missile material on board.

Outlining a dramatic sequence of events, President Ricardo Martinelli said the ship was targeted by drug enforcement officials as it approached the Panama Canal and was taken into port, but a search revealed cargo of far greater concern. Continue reading

Food rationing to begin in Venezuelan state

In a sign Venezuela’s food shortages could be worsening, restrictions on the sale of 20 basic items subject to price controls, including toilet paper and chicken, are set to begin next week in its most populous state, officials said on Tuesday.

A spokesman for Venezuelan President Nicolas Maduro’s government said it is incorrect to call the plan rationing because it is meant to fight smuggling of price-controlled food across the border into Colombia. He said there are no plans to extend the program nationally. Continue reading