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We're Doomed
https://www.washingtonpost.com/world/cor...story.html
(could be behind a paywall.. a sniper below in the event it is)

Stirrings of unrest around the world could portend turmoil as economies collapse

BEIRUT — As more than half the people in the world hunker down under some form of enforced confinement, stirrings of political and social unrest are pointing to a new, potentially turbulent phase in the global effort to stem the coronavirus pandemic.

Already, protests spurred by the collapse of economic activity have erupted in scattered locations around the world. Tens of thousands of migrant laborers stranded without work or a way home staged demonstrations last week in the Indian city of Mumbai, crowding together in defiance of social distancing rules.

In locked-down Lebanon, which was confronting financial collapse even before the coronavirus paralyzed the economy, angry people have swarmed onto the streets in Beirut and the northern city of Tripoli on at least three occasions. In Iraq, where a six-month-old protest movement demanding political reforms fizzled in the face of the country’s coronavirus curfew, there have been spontaneous but brief outbursts of rage in the city of Nasiriyah and the impoverished Baghdad neighborhood of Sadr City.

For now, fears of infection are keeping most people indoors. Strict controls imposed by governments and security forces deter the kind of organized protests that were sweeping the world from Hong Kong to Chile before the pandemic struck. The health crisis has come as a boon for some authoritarian leaders, empowering them to introduce the kind of controls on their citizens they could only have dreamed of before the spread of covid-19.

In Kenya as of Saturday, as many people had died in police crackdowns on citizens defying curfew as from covid-19, according to human rights groups and government statistics.

But the restrictions aimed at halting the coronavirus are also causing new poverty, new misery and new rumblings of discontent among the world’s working poor, for whom hunger can appear to be a more immediate threat than being infected.

"I’d rather die of the virus than die of hunger, or see my son or my wife go hungry, but I can’t provide them with food," said Hussein Fakher, 20, who used to earn a little less than $20 a day driving a tuk-tuk in a now-shuttered market in Baghdad. He got into a fight with police who tried to fine him for violating Iraq’s curfew when he went out to seek work. "What should I do?" he asked. "Beg? Steal?"

The United Nations and the International Monetary Fund are among those that have warned in recent days that the pandemic could unleash what U.N. Secretary General Antonio Guterres called "a significant threat to the maintenance of international peace and security."


And this isn't only happening in some far off foreign place were they don't speak english.. folks this is happening in America. Will it happen in Honolulu? Hilo?
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Oil just hit $16.96 a barrel. Seems like they should get rid of the ethanol subsidy so farmers can go back to producing cheap staples again.
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Yesterday - Oil just hit $16.96 a barrel

Texas oil futures for May is now at $0.05 (the lowest ever recorded) as no one wants to actually take possession of a barrel of oil currently. Oil from some sources is being offered at below zero as it's cheaper to pay someone to take it off your hands than stop and restart your operations. Another one for the history books.

https://www.barrons.com/articles/oil-fut...1587406408
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News reports this morning had crude oil pricing at minus $1.43 per barrel... wow.
Assume the best and ask questions.

Punaweb moderator
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Oil from some sources is being offered at below zero

Great news! Now we can shut down PGV (and Hu Honua, and the wind farms) because they're no longer cost-competitve!
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-$37.63 a barrel now... just the flu bro?

https://finance.yahoo.com/news/us-stocks...58311.html

"The S&P energy index tumbled 2.8% after the front-month May U.S. West Texas Intermediate (WTI) contract turned negative - unprecedented in history - with sellers offering buyers $37.63 a barrel."
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And we still get robbed blind at the gas pump here.
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I hear Mt. View Gas and Go is paying motorists $2.00 a gallon to fill up. Ethanol free not available at this rate though. Smile
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Steinbeck would probably have something to say about the grim irony of plowing under crops and laying off workers while an unprecedented number of people line up for assistance at food banks.

"Well, it’s too late. And the owner men explained the workings and the thinkings of the monster that was stronger than they were. A man can hold land if he can just eat and pay taxes; he can do that.

Yes, he can do that until his crops fail one day and he has to borrow money from the bank.

But — you see, a bank or a company can’t do that, because those creatures don’t breathe air, don’t eat side-meat. They breathe profits; they eat the interest on money. If they don’t get it, they die the way you die without air, without sidemeat. It is a sad thing, but it is so. It is just so."

https://www.reuters.com/article/us-healt...SKCN21Y02M

"The lockdown in most U.S. states that started in mid-March created a logjam of fruit and vegetables bound for restaurants across the country. The effects of the business closures rippled throughout the supply chain, reaching even the produce still rooted in farmland as customers cancel orders.

The decision to destroy the crop didn’t come easy for Vessey. But he said he couldn’t justify paying for labor, and packaging and storage for a crop that distributors were not buying. He laid off 150 to 200 seasonal workers up to two weeks early.
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The uprooting of crops come as food banks across the United States witness a surge in demand as millions face unemployment due to the lockdown.

While farmers make the hard decision to plow under crops, David Magana, a senior analyst at Rabobank said the drop in food supply will be felt by consumers eager to buy produce at grocery stores.

“We could see a decline in supplies in the next few months,” he said. “Prices are going to increase.”
"
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While farmers make the hard decision to plow under crops, David Magana, a senior analyst at Rabobank said the drop in food supply will be felt by consumers eager to buy produce at grocery stores.
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This has been going on for over a month. Consumers want produce and they have been buying it all this time. However, one issue is that restaurants purchase far more produce than people eat due to waste. Second is that consumers consume less produce fixing their own meals, at home. This accounts for the drop in demand.
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