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As East Australia Prepares For Cyclone Yasi Flooding, West Suffers From Drought...And A Weak Wheat Harvest

Tyler Durden's picture




 

AUD pairs (and the ES, as a result) are not doing too hot today: the primary reason - Cyclone Yasi, which is now projected to be a category 5 storm according to the Australian Weather Bureau, is making landfall in Queensland and will add to the continent's flooding misery, which has already incurred over $20 billion of damages to eastern states. Yet in a case of supreme irony, the West of the continent, unlike the East which has been having flood after flood, and which is the source of Australia's bread basket and where the bulk of the grains come from, is wrapped in a drought that threatens to impair an already week wheat harvest. From Bloomberg: "At stake is the output of the country’s biggest wheat- growing state at a time when global food shortages have pushed prices to records. The drought has already prompted the government of Western Australian state Premier Colin Barnett to cut its economic growth forecast for the year to June 30 to 4 percent, from 4.5 percent."

Australia’s export earnings from energy and minerals in the three months to Sept. 30 totaled A$44 billion, while the value of wheat exports for the year to June 30, 2011, is forecast to be about A$4.7 billion, according to the Australian Bureau of Agricultural and Resource Economics and Sciences. World food prices rose to a record in December on higher costs for sugar, grain and oilseeds, the United Nations reported on Jan. 4.

“The greatest restraint on Perth and Western Australia is water,” Barnett told reporters in November in Perth, where homeowners are allowed to water their gardens with automated irrigation systems for 20 minutes a week. “We’ve had our driest year ever, so that’s created an acute problem.”

So while Bernanke continues to flood the world with his own form of liquidity (and which is set to double in the next two months courtesy of the SFP program unwind), there is little to no liquidity where it matters. As a result, look for wheat prices to continue surging, making the "price in" component of global revolutions increasingly more problematic.

Below is a realtime map of the incursion of Yasi, courtesy of the Austrlian Bureau of Meteorology

Those seeking a minute by minute coverage of the Cyclone's aftermath can do so at the Austrlian version of the Daily Telegraph.

 

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Wed, 02/02/2011 - 10:23 | 927016 SheepDog-One
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$20 billion? Meh...chicken scratch, thats just 2 days of POMO for Satan Bernank, cant he just ramp up the machines and give Queensland the measely $20 bill? Come on Satan, quit being such a skinflint!

Wed, 02/02/2011 - 10:26 | 927028 Sudden Debt
Sudden Debt's picture

WE DON'T NEED NO FUCKING WHEAT!!

 

YOU CAN'T SMOKE IT!!

 

WHAT GOOD DOES THAT DO!?!

Wed, 02/02/2011 - 10:44 | 927124 Mad Max
Mad Max's picture

Who cares about wheat - you can't eat wheat.

What?  Seriously?  You can?  Whoooooocouldanode......

Wed, 02/02/2011 - 11:20 | 927279 Flakmeister
Flakmeister's picture

umm.. read Calculated Risk much? Not that it is a bad thing

Wed, 02/02/2011 - 10:28 | 927031 jesusonline
jesusonline's picture

I would like to suggest, even if it sounds crazy, that for better coverage of this people should go to godlikeproductions. Yes it's a conspiracy forum and shit. But the current thread about Yasi is updated with live feeds and maps very often. It's called "BREAKING *********YASI upgraded to Cat 5.Australia is in deeper shit" -> http://www.godlikeproductions.com/forum1/message1346359/pg1

(i ain't promoting glp here so no need to rain your sarcasm on me, if you feel like it)

Wed, 02/02/2011 - 10:35 | 927065 Sudden Debt
Sudden Debt's picture

really....

my firewall just went crazy when I clicked that link...

Wed, 02/02/2011 - 11:10 | 927226 financeguru500
financeguru500's picture

Lol, I think godlike productions is run by infowars as one of their mirror sites. I wish that d-bag would just go ahead and move to another country and stop profiting off of fear mongering.

Wed, 02/02/2011 - 11:25 | 927300 SheepDog-One
SheepDog-One's picture

Right, anyone can clearly see theres NOTHING to worry about, all is well.

Wed, 02/02/2011 - 11:54 | 927428 jesusonline
jesusonline's picture

There's some interesting stuff coming from Jones, too (although very rarely). A lot of it is what it is - fear-mongering and disinfo. Take infowars, etc with a ton of salt. As for godlikeproductions - I read it just for the kicks, it's a funny place, really. Thanks for the junks

Wed, 02/02/2011 - 17:46 | 928797 serotonindumptruck
serotonindumptruck's picture

Yeah, all the pings coming from those data-mining assclowns at the NSA will definitely bring me back for more.

Take your GLP and shove it straight up your gaping anal cavity.

Wed, 02/02/2011 - 10:30 | 927056 Sudden Debt
Sudden Debt's picture

Is this de reason why the BDI is down again today?

 

Wed, 02/02/2011 - 10:32 | 927069 eigenvalue
eigenvalue's picture

Has anybody noticed that North China is suffering from a severe drought. Its winter wheat is in danger. If this drought continues into April, China's wheat harvest will be totally Game Over. When China starts to import wheat from abroad, wheat price will go to the moon.

Wed, 02/02/2011 - 10:33 | 927074 Green Leader
Green Leader's picture

That hurricane looks geoengineered. Take a look at the upper left quadrant. Hurricanes have no corners.  There's also a corner below the hurricane's lower right hand quadrant. Evidently it is being guided.

The Hurricane that struck Haiti last year had one side with a corner.

Get the message, people: this is the result of  a master Satanic plan. Gold will NOT save your asses nor guarantee that you will eat.

Yahweh is my Yireh.

Wed, 02/02/2011 - 10:45 | 927127 the not so migh...
the not so mighty maximiza's picture

I see the straight line but that can be caused by data errata from the weather satellite.

Wed, 02/02/2011 - 10:47 | 927145 Green Leader
Green Leader's picture

The hurricane should look spinning all around, like in the upper right hand quadrant.

I live in the Caribbean.

Wed, 02/02/2011 - 11:06 | 927202 resipsaloquacious
resipsaloquacious's picture

Hurricanes, like toilet bowls, spin in the opposite direction in the Southern Hemisphere. 

 

Wed, 02/02/2011 - 11:06 | 927205 resipsaloquacious
resipsaloquacious's picture

Man made hurricanes... I mean, I believe in man made climate change, but...  really?

Wed, 02/02/2011 - 11:15 | 927249 Green Leader
Green Leader's picture

Yes, science has advanced a lot--barbarian science, that is. We are living in the era of the barbarian-scientist.

It does not matter which way the hurricane is spinning, it should spin evenly all around.

Wed, 02/02/2011 - 11:17 | 927263 jesusonline
jesusonline's picture

Your name betrays you, Al. What have you done to Tipper?

Wed, 02/02/2011 - 11:25 | 927299 Green Leader
Green Leader's picture

Global warming is a fake--and I am not an Anglo.

Wed, 02/02/2011 - 11:56 | 927442 jesusonline
jesusonline's picture

My apologies, dude :)

Wed, 02/02/2011 - 11:21 | 927283 Oh regional Indian
Oh regional Indian's picture

Really indeed resip.

HAARP, that great unknown technology, is used to heat up the ionosphere in ways that can distort pretty much anything in the atmosphere. It's supposed to be derivative of Tesla's work using scalar waves.

And that much is known. Given how far ahead tech is in the mil/black ops space, right now, if the full range was un-leashed, we'd feel like we've met god.

ORI

http://aadivaahan.wordpress.com/2010/12/17/straykitty-wrote-in-2/

Wed, 02/02/2011 - 16:00 | 928424 Cathartes Aura
Cathartes Aura's picture

Weather as a Force Multiplier:
Owning the Weather in 2025

http://www.fas.org/spp/military/docops/usaf/2025/v3c15/v3c15-1.htm

not really a secret, but certainly not on mainstream "radar". . .

military is all about control, and control of weather includes drought, affecting food supplies, as well as steering cyclones/hurricanes into populated areas, microwaves that cause shallow, intense earthquakes, ohhh, and sooo much more.

if one is really interested in what the military is doing to "own the weather" as a weapon against populations, the link below has enough hyperlinks to keep you busy for a few days/weeks, depending on your attention span. . .

http://geoengineeringwatch.org/

I'm not religious, but I do believe in evil.  This shit is evil.

 

Wed, 02/02/2011 - 10:35 | 927083 umop episdn
umop episdn's picture

http://www.wunderground.com/blog/JeffMasters/comment.html?entrynum=17

Dr. Jeff Masters blog on WeatherUnderground is a very good place to keep up with whatever Yasi is doing to unfortunate Austrailia. Sadly, there are trolls there, but I doubt you will have any trouble picking them out.

Wed, 02/02/2011 - 16:14 | 928488 Cathartes Aura
Cathartes Aura's picture

dup.

Wed, 02/02/2011 - 16:13 | 928489 Cathartes Aura
Cathartes Aura's picture

indeed they are - thanks for the link!

check this one out - same thing, over nevada, circa 2001 - 10yrs previous ^^.

http://www.carnicom.com/radar1.htm

Wed, 02/02/2011 - 10:48 | 927146 Thorny Xi
Thorny Xi's picture

geoengineering by supernatural powers ... isn't that what the weather used to be described as, before people grew brains?

Wed, 02/02/2011 - 16:21 | 928512 Cathartes Aura
Cathartes Aura's picture

evolution shows apparent disparity in brain growth rates.

</headpat> hon.

Wed, 02/02/2011 - 10:50 | 927151 Henry Chinaski
Henry Chinaski's picture

Oz can't catch a break.  Too bad.  It's a great place with great people. 

Wed, 02/02/2011 - 10:51 | 927154 cheesewizz
cheesewizz's picture

 Mother Nature can't be bribed or corrupted, Does not care if rates are low and money supply is high. Even the mighty millatary has no say. Whoes the boss bitch!!! Say my name...

Wed, 02/02/2011 - 10:55 | 927168 duo
duo's picture

I was crazy enough to drive around Dallas yesterday, and the only place I saw any cars was Wal-mart.  This is after the city and police told everyone to stay home.

Note to HHS:  If bad weather is coming, charge up the EBTs a day earlier so people can stock up.

Wed, 02/02/2011 - 10:59 | 927181 Negro Primero
Wed, 02/02/2011 - 11:21 | 927285 gwar5
gwar5's picture

That's a tight pattern there. Good luck to Ozz

Wed, 02/02/2011 - 11:03 | 927195 dark pools of soros
dark pools of soros's picture

if it was oil they would pipe it to the moon if they had to.. but they can't funnel all that water to the other side??

Wed, 02/02/2011 - 12:33 | 927633 Oh regional Indian
Oh regional Indian's picture

Brilliant and extremely ironic observation dark pools.

ORI

Wed, 02/02/2011 - 11:03 | 927200 doomandbloom
doomandbloom's picture

natural selection in progress...

Wed, 02/02/2011 - 11:11 | 927232 outamyeffinway
outamyeffinway's picture

It's HAARP again. The Americans are punishing the Aussies for doing business with China. Limiting their coal again. DO NOT defy the Evil Empire or the Death Star will be turned upon you!!!

Wed, 02/02/2011 - 11:36 | 927340 gwar5
gwar5's picture

HAARP has been co-opted by the American Imams 

They are convinced there is a martyr button

 

Wed, 02/02/2011 - 11:16 | 927259 gwar5
gwar5's picture

Australia must have really pissed off the big guy this year

Wed, 02/02/2011 - 11:19 | 927273 Team Lemming
Team Lemming's picture

It's been seriously dry here in Perth (capital of Western Australia) for way too long. The farmers in the wheatbelt only seem to get rain these days in the form of thunderstorms which can do more harm than good.

On the other hand Western Australia is sitting on the mother load when it comes to commodities, particulary iron ore and gas and with a population of just 2.3million we have been in an economic boom for easily a decade with major labour shortages and ridiculous housing prices (try $800,000 plus median house prices in some mining towns - and these are shit houses) being two of the key features of this part of the world. Of course all of this will come to a screaming halt if the Chinese economy goes arse over tit.

For those with too much time on their hands the Black Swan features on both the Western Australian State flag and the State Coat of Arms. We don't have any of those weird looking white ones (swans that is).

 

 

Wed, 02/02/2011 - 12:46 | 927692 SteveNYC
SteveNYC's picture

You are right Lemming. The problem is (which I keep telling my buds down there) is that EVERY SINGLE condition for a collapse is present right now, all that is required to push it over the edge is a Chinese slowdown (China does not even have to collapse, if it cuts its ore imports just a bit its game over):

- Excessive house price levels funded by excessive debt, which is eating up more and more income to service

- Reliance on one industry (which is highly cyclical)

- Reliance on one customer (China)

- Two-speed economy

- Lack of education (many of the guys making $100k + in mining are illiterate)

- The mantra that "it can't happen here", "house prices only go up here", "we are not America" etc etc. Very dangerous attitude given the above conditions.

 

As soon as the Chinese slowdown ripens and the exports slow, it comes crashing down because of the debt. No reserve currency status, which will make it all the more difficult to "print" their way out (which of course the US will fail miserably at, albeit Ben will try)

Good luck to you.

Wed, 02/02/2011 - 14:43 | 928174 Team Lemming
Team Lemming's picture

Cheers SteveNYC for the good luck wish and good luck to you to in your part of the world. I agree 100% with every single point that you have made.

Here in Perth we live in a freak economy. There hasn't been a recession in twenty years and whilst the GFC gave the mining stocks a bit of a hammering most recovered and then went on to better things. Other than that the GFC passed us by.

I know a reasonable number of people from their late teens to their mid sixties and I know of no one who is unemployed. Apparently our unemployment rate is 4% but this seems way overstated. I open up the local community newspaper and there are pages of jobs and they include ads where several employment agencies are offering money to refer prospective employees to them. If you can't find work here, and good paying work at that, then there is something seriously wrong.

I read about things like food stamps and wonder what the hell they look like or how they work. We have nothing like that. But if China turns brown and hits the fan then we may just find ourselves on such a track and worse. 

What we do have is a "She'll be right, it'll never happen" attitude and in particular what we have here are very high property prices. If you want a house (something with a backyard) then you're looking at a median price of around $550,000 for one. On the other hand something smaller such as a two-bedroom unit (say about 550-650 square feet) begins at around $280,000 but an average quality one is in the $330-380,000 range.   

These prices are heavily backed by some hard core debt. Average first home buyers mortgages last time I looked where pushing the $300,000 mark and the average new mortgage was pushing the $400,000 mark. We don't have to have much of a hiccup in employment or interest rates and we're toast.

My attitude is that you make the most of the bloody good luck that we have here while it lasts. But through sites such as Zero Hedge you keep informed on what is happening in the rest of the world because the sort of BS that is being pulled by many of the world's governments will sooner or later end in tears and our luck in this part of the world will definitely run out. 

Stay safe.

Wed, 02/02/2011 - 18:42 | 929012 sax
sax's picture

Nice post, I enjoyed reading that

Wed, 02/02/2011 - 11:28 | 927309 SheepDog-One
SheepDog-One's picture

Remember China accused the US of causing the Haiti earthquake...I guess the Chinese govt could also be a bunch of conspiracy loons too but maybe they actually know something...just sayin.

Wed, 02/02/2011 - 12:18 | 927559 Oh regional Indian
Oh regional Indian's picture

+ 8.3

Scalar Wave Technology for Tectonic and Ionospheric Modification

ORI

Wed, 02/02/2011 - 12:22 | 927574 Max Hunter
Max Hunter's picture

China isn't the only country accusing the U.S. of causing earthquakes.. But of course, if it doesn't come from U.S. officials, it's a bunch of laughable lies.. Pffft..

Something is going on.. And a natural disaster would be the perfect "out" for the economic collapse.. I'm expecting a HUGE earthquake in the Mississippi Valley by the end of Spring..

Wed, 02/02/2011 - 16:37 | 928562 Cathartes Aura
Cathartes Aura's picture
Fema buying emergency meals for possible New Madrid Earthquake

As a follow-up to our story last week about the food shortages that are hitting the emergency food market, one of our sources sent news that FEMA has put out a Request for Information for Pre-Packaged Commercial Meals for a catastrophic disaster event within the New Madrid Fault System.

The RFI asks for enough emergency food to feed 7 million survivors which works out to about 14 million meals a day.

Does FEMA know something? Is the New Madrid Fault Line about to see some major activity soon?

According to the U.S. Geological Survey, over 500 measurable earthquakes have happened in the New Madrid Fault System since September. What’s scary about this fault line is how deadly a massive quake in this area would be to the country.

http://offgridsurvival.com/femanewmadrid/

good one-minute video there, on the New Madrid series of devastating quakes of 1811/1812. . . anniversary?

recall the recent massive bird deaths, fish as well, all along the faultline states. . .

connect the dots folks, prepare your friends & family.

Wed, 02/02/2011 - 11:54 | 927433 Flakmeister
Flakmeister's picture

Global Warming, bitchez.

Now junk away

Wed, 02/02/2011 - 13:11 | 927791 cougar_w
cougar_w's picture

Australia has a lot of coal. Once they get the pits pumped out from all the flood waters they're back in business, boo-yah! They can use the money to buy wheat and repair Queensland in time for next year. And the year after that. And the year after that.

Wed, 02/02/2011 - 13:25 | 927868 Flakmeister
Flakmeister's picture

 Long time, no see... I've been off "educating" the hoardes on peak oil, admittedly an easier task, but the crowd is no less obstinate.

Wed, 02/02/2011 - 19:10 | 929115 cougar_w
cougar_w's picture

Glad someone is smacking them around. Myself, I've been securing the Internet or something like that. If the NSA ever does manage to track me down here, I'm toasted. Which reminds me: Yo Langley G-CIC baby! I told you stay the fook outta my servers you bunch of lunatics, now Imma kick your asses all over the TDLs. Next time it's your cloud-sec gets da boneyard, fact. Still luv ya.

 

Wed, 02/02/2011 - 12:06 | 927482 jesusonline
jesusonline's picture

Moving inland:

http://www.weatherzone.com.au/radar.jsp?lt=radar&lc=019

http://www.abc.net.au/local/stories/2011/02/01/3128131.htm?site=tropic

Details of Severe Tropical Cyclone Yasi at 11:00 pm EST:
.Centre located near...... 17.7 degrees South 146.6 degrees East
.Location accuracy........ within 20 kilometres
.Recent movement.......... towards the west southwest at 25 kilometres per hour
.Wind gusts near centre... 285 kilometres per hour
.Severity category........ 5
.Central pressure......... 930 hectoPascals

Wed, 02/02/2011 - 13:07 | 927772 cougar_w
cougar_w's picture

Wow their weather really sucks these days. But Australia is also a major coal exporter so it all balances out. Yup.

Thu, 02/03/2011 - 05:38 | 930300 aus_punter
aus_punter's picture

Its sad that this site is now populated by boring, chiildish retards who hijack threads with their pathetic attemps at humour.  "Bitchez" is so fucking lame. May I suggest just leaving the comments section for comments on the actual post

Do NOT follow this link or you will be banned from the site!