Friday, 27 February 2009

Day temperatures have gone up which means that ice and snow comes down. Enjoying the sunshine on pavements in central Oslo is risky business. Only yesterday a man was injured by a “roof avalanche”. The fall of icicles, ice blocks and blood on not so white snow are first signs of spring in this part of the world. Snowdrops, which my mother on the west coast reports are in full flower, have still a month to go, - and megatons of ploughed up street snow is waiting to be dumped in the fjord.

The financial winter seems to drag on even longer. Tight credit, foreclosures, unemployment, less spending, less production, equity markets in free fall, sliding house prices, even more foreclosures. Maybe the surplus countries like China, Japan and Norway whos' Central Banks put all this money into the greedy hands in the first place have a special responsibility to end it. - If only they knew how.

That probably leaves us with relying on Barrack Obama’s bold rearrangement of the US economy. Personally I trust in the lyrics: “If you can make it here, you can make it anywhere.”

It may get much worse before it gets better. The oil price is now below break even for development of most new offshore fields and a hard rain's gonna fall.

The end is nigh and global warming is coming - not yet though.

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