Nova Scotia Apocalypse

Nova Scotia is due for an apocalypse: at least in fictional form.

 

I saw in their local paper (via a google alert) that a native was coming out with an illustrated story of the end times.

 

Halifax, Cape Breton focus of illustrator's post-apocalyptic novel

David Irish, CBC New, 19 June 2015

A local writer and illustrator has taken inspiration from Nova Scotia's much-discussed economic future — and its history — in his first novel, set in post-apocalyptic Halifax and Cape Breton.

Ben O'Liari, 39, has been a freelance writer and illustrator in Halifax for 10 years. He said he's spent a portion of those years conceptualizing a new science fiction story of which he's half finished, tentatively titled The Rogues of Novas.  

Post Apoc Halifax

 

Apparently the world is a bit more futuristic when it all ends.  So possibly we can imagine our local naked gardeners on Starwar-like speeders fleeing the local pirates. They certainly will need to upgrade from their current plans of transportation.

 

I gather that Mr. O'Liari is a comic book illustrator and writer.  Which shows an interesting split between the much grittier main stream fictionalized apocalypses (zombie, plague, etc.) and the slicker stylization of those in the comic book world.  Both The Massive and Quarter-Life Crises were more slick than real.

The rose colored glasses are getting dim: finance version No. 2

Maybe it is just an attrition thing, but I sort of think it is indicative of the shell game that is modern finance.  I have excerpted only the lead of the article:

 

 Zombie Update: the silent hedge fund apocalypse (gated link)

Dan McCrum, FT Alphaville, 19 June 2016 (hat tip: NC)

More hedge funds have closed in the last decade than were open for business at the start of it, according to industry numbers from HFR.

A total of 9,000 hedge funds and fund of funds have liquidated since the start of 2005, almost as many as HFR estimates exist now: 10,150. At the end of 2004 there were around 7,500 funds offering to manage cash.

The figures are a reminder of the transient nature of such high fee investment vehicles, which on average survive for only five years. The rapid turnover adds to questions about how such vehicles can be suitable stewards of capital for large long term investors such as pension funds.

More hedge funds have closed in the last decade than were open for business at the start of it, according to industry numbers from HFR.

A total of 9,000 hedge funds and fund of funds have liquidated since the start of 2005, almost as many as HFR estimates exist now: 10,150. At the end of 2004 there were around 7,500 funds offering to manage cash.

The figures are a reminder of the transient nature of such high fee investment vehicles, which on average survive for only five years. The rapid turnover adds to questions about how such vehicles can be suitable stewards of capital for large long term investors such as pension funds.

Interesting question for the Financial Times at this late stage of the game.

Note that I could post Chinese related stories like this forever.  They are in a bigger mess than us.

The rose colored glasses are getting dim: finance version

I frequently here from various prognosticators of doom, that the general populace is ignoring our collective current run of difficulties.

 

But what I find is that many people have two realities that they interact with.  One is the reality of getting along in the modern world they grew up in.  The other has them acting to varying degrees on the side about what they view as problems going forward.

 

So what is my guestimate of the actual amount of the concerned folks?  Just short of 20%.

 

In any case here is someone from one of the finance world breaking the bubble of silence:

 

'It's time to hold physical cash,' says one of Britain's most senior fund managers

Andrew Oxlade, The

The manager of one of Britain’s biggest bond funds has urged investors to keep cash under the mattress.

He is talking about a bank run:

He pointed out that a saver was covered only up to £85,000 per bank under the Financial Services Compensation Scheme – which is effectively unfunded – and that the Government has said it will not rescue banks in future, hence his suggestion that some money should be held in physical cash.

Not particularly imaginative stuff: but sufficient.

The tap is running dry

Underground aquifers supply 35% of the worldwide drinking water.  I gather that much of this water was left in place after the last glaciers melted off during the ice age. In other words, it takes a long time to replace.

New NASA data show how the world is running out of waterTodd C. Frankel, Washington Post, 16 June 2015 (hat tip: MR)

Satellite system flags stressed aquifer: More than half of Earth’s 37 largest aquifers are being depleted, according to gravitational data from the GRACE satellite system.

Twenty-one of the world’s 37 largest aquifers — in locations from India and China to the United States and France — have passed their sustainability tipping points, meaning more water was removed than replaced during the decade-long study period, researchers announced Tuesday. Thirteen aquifers declined at rates that put them into the most troubled category. The researchers said this indicated a long-term problem that’s likely to worsen as reliance on aquifers grows.