Glowing Soil, Glowing Water; World's Most Complex Supply Chain Broken; World's Ecological System Disrupted; First New Gulf Oil Drilling Permit Approved

As mentioned here numerous times already, with so many supply chain disruptions now occurring around the world due to plant shutdowns in Japan, there is little comfort in knowing that an already fragile broken global economy needs more heavy burdens. Despite this, investors are bombarded on a daily basis with happy talk from the main stream media about all sorts of positive outcomes from the March 11th global catastrophe. The word global is fitting to describe this catastrophe because the consequences are truly global - from supply chain disruptions that have put dozens of automobile plants around the world on hiatus, to electronic manufactures now in emergency mode seeking new supplies of microchips and other sensitive parts, to the yet unknown impact of contaminated drinking water and food around the world. Worse, in order to keep the rods cool, workers are pumping thousands of gallons of sea water on the chambers to keep the temps down. Two questions arise: One, how long can they keep this going, and two where will all this runoff go as the NY Times is reporting?

Some new video footage below out of Fukushima today showing the condition of the reactors - it doesn't look good and the commentary is not very encouraging. 

In Japan, the worst type of radiation has been discovered - that of plutonium, in high concentrations, in the soil no less. Of course, raising the legal limit to what is safe might do the trick to get people back in their homes. Some 6000 miles away, radioactive iodine 131 has been discovered in the rainwater, in places across the US, such as Massachusetts, Pennsylvania, Florida and New Jersey. The quote of the day however, goes to one Boston official who said about the radioactive iodine, "levels in water are below detection." No further comment is necessary.

The long term impacts of this incident have yet to be seen and currently, the prospects don't look good for the world as one expert said. In some places around the world, nations such as Germany are already starting to plan for a nuclear free future.One thing is certain however, the earth's delicate ecological balance has been disturbed as today's most recent example shows hundreds of star fish wash up dead on the shores of England. Could the BP Gulf oil spill be related? Seems plausible. Speaking of the Gulf, it is interesting to note that the US has approved the first new permit for Gulf drilling since the spill last April. Just in time for the 1 year anniversary. Of course, all of this destruction is somehow "bullish" for the economy, although, the only primer of this bullishness is free money via direct money injections into the stock markets - put your rally hats on!

Check back often. More updates soon.