bałagan

Though this other Persia etonym that reveals the origin of antidote was a bit too stomach-churning to expand upon, we were reminded with this encounter of another ultimately Persia term that in Yiddish, Polish and Arabic has come to mean chaos. An excellent example of a round trip word, balagan (بالاجان, בלגאן) originally meant an upper chamber, passing via Tartar to Russian where it came to signify a temporary platform constructed for a circus performance, exporting the sense of disorder and associations with buffoonery, applied to everything from the state of one’s car interior to geopolitics. More from Language Hat at the link above.

wadi musa

Familiar to only a few locals and unknown to the West until its rediscovery on this day in 1812 by Swiss explorer Johann Ludwig Burckhardt, the capital of the Nabataeans called Raqmu by its denizens is commonly referred to Petra (Al-Batrāʾ) after its designation as a client state of the Empire after Rome annexed their kingdom as Arabia Petaea.

The settlement in southern Jordan between the Dead Sea and the Gulf of Aqada is only accessible via a narrow gorge and was a major regional trading hub in antiquity, controlling routes from Gaza to Damascus and onto the Persian Gulf. Accustomed to privation and periods of drought and deluge, the Nabatean city includes advanced methods of gathering and storing rainwater and flood control, allowing the population to thrive and supporting numbers approaching twenty-thousand residents at its height. A marvel of engineering and with many cameos in popular culture, in most years, Petra greets over a million international tourists annually.

it belongs in a museum

Highest grossing box office film of the year, the collaboration between Steven Spielberg, Lawrence Kasdan, Philip Kaufman and George Lucas, Raiders of the Lost Ark, was released in cinemas on this day in 1981. Though there are problematic elements including the push for acquisition, appropriation and the noblesse oblige that precludes repatriation of artefacts and treasure, the film and the ensemble franchise launched has had enduring cultural impact and outsized influence. Indiana Jones and Marion Ravenwood join forces to stop a rival archaeologist from helping the Nazi German forces from obtaining the Ark of the Covenant and harnessing its supernatural powers. Tom Selleck was originally cast in the lead instead of Harrison Ford but was unable to commit to the shoot due to prior contractual obligations with the television programme Magnum P.I.

santa bona

Early eleventh century Augustinian nun venerated on this day, Bona of Pisa, helped conduct pilgrims on their journeys and is considered the patroness of tour guides, couriers, flight attendants as well as her well-touristed home town. Her father a Crusader in the Holy Land, Bona made no fewer than four sojourns there to visit him and see to his well-being and after being taken hostage by pirates and necessitating a ransom and rescue by her compatriots, redirected her focus to the route of Santiago de Compostela, undertaking the arduous trip ten times and leading others along the way.

o’zapft is!

Proposed by an events planner who helped organise German Weihnachtsmärkte and former Münchener restauranteur surely also hit hard by the pandemic and whom now resides in Dubai, the announcement that the emirate plans to host a version of Oktoberfest has drawn ire and confusion from the annual party’s venue city. Mirroring its namesake to an extent with beer tents, food concessions and carnival rides, the proposal calls for it being a pavilion of the World Expo and to last for six months rather than the customary two weeks in September. Last year’s festivities were cancelled due to corona, and though uncertainly it seems as if the coming autumn celebrations may also have to be postponed.

the yellow fleet

Via Kottke’s Quick Links, we are given a bit of historical perspective on the six-day plight of the Ever Given (previously) which has antecedents with a much longer, large-scale stranding resulting from the Six-Day War that broke out in June of 1967 between Israel and Egypt, trapping fifteen international ships and their crews in the Suez Canal that were passing through when the conflict broke out and remained impounded until 1975. Blockaded by Egypt to prevent its use by Israel, debris put in place continued to prevent transport and traffic for eight years during a time when the waterway was not the major artery of trade it is today. Named the above for the colour of the desert sand that accumulated on the decks of the vessels moored in Great Bitter Lake, a turning around point off the main canal, the ships’ crews from West Germany, the UK, the US, France, Sweden, Czechoslovakia, Poland and Bulgaria quickly forged a community, sharing resources and even holding a mini-Olympic Games—the Swedish ship had a pool, and issuing their own Cinderella postage stamps with the recognition of host nation postal authorities. Within the first few months, countries flagged with these vessels were able to reduce crews to a bare minimum and repatriate their members, rotating in and out skeleton crews for the basic upkeep of the ships and though the population turn-over was regular and complete, the sense of comradery and community endured with each generation. The Suez was reopened with the Yom Kippur War in October of 1975, restoring this trade route but with the spectre of supplies being cut off again, businesses were pressured into making ever larger cargo ships to reduce one’s exposure, like the colossal Ever Given.

forever given

We really enjoyed these curated tweets on the jack-knifed cargo ship blocking traffic in the Suez Canal from Super Punch including a dating app for those captains and crew stuck in the queue, an invitation to tag one’s battle avatar from among the named ships in the growing pile-up (see also, our favourites are a toss-up between Bulk Venus and the Nautical Deborah) plus some clearing up on the identity of the ship: not called evergreen—that’s the company—it’s evergreen’s monster.

myrrhbearers

Patron of funeral directors, morticians and undertakers, Joseph of Arimathea was fêted on this day according to the traditional Martyrologium Romanum but is now celebrated on 31 August along with his fellow secret disciple Nicodemus who helped prepare the body of Jesus for burial. Not much more is related about these wealthy (Joseph was appointed Nobilis Decurio, Minister of the Mines), covert followers in the Gospels who sought permission from Pontius Pilate to care for and prepare the corpse with spices that Nicodemus purchased after crucifixion and see to his entombment. The title refers to collective term given these two men and the Three Marys when they return to find the tomb empty. Further embellishment subsequently connects Joseph with the Arthurian cycle and the Matter of Britain, placing the saint among the first missionaries on the Isles (reportedly teaching the Cornish how to excavate tin) and of course guardian of the Holy Grail.

blast shield

On the six-month anniversary of the explosion that rocked the city of Beirut, we are directed towards an appreciation over the over-engineered, monolithic grain silo in the harbour, made to withstand not only the bombardment of the wind and sea but also the pressure and possibility of dust explosions, whose eastern-facing cylinders sustained and deflected the brunt of the powerful shock wave, sparing the port and the city even more destruction. The design of this half-a-century old piece of infrastructure stands—though battered—in stark contrast to the mismanagement and cronyism that resulted in the deadly and debilitating detonation and should be preserved as a monument to recovery and reform.

6x6

a perfectly pleasant man but with a name of a bumbling villain from a Charles Dickens novel: the final resting place of Mister and Missus Skeffington Liquorish, via Super Punch 

glass-bottom: a transparent kayak with rainbow LEDs  

a line in the sand: Saudi Arabia plans a one hundred-seventy-kilometre-long belt city of net-zero, walkable communities (see previously and also here)  

beyond the poseidon adventure: the namesake blog reviews the forgettable sequel that came seven years later starring Karl Malden, Michael Caine, Sally Field and Telly Savalas 

 beauty, loss, confusion, hope, division, grace and grandeur: a ten thousand mile photographic essay of in the form of a long, lonesome look at America by Stephen Hiltner—via Nag on the Lake’s Sunday Links 

mother nature: artist Tomáš Libertíny recreates the bust of Nefertiti (previously) in honeycomb with the help of bees

mmxx

As a long-standing tradition here at PfRC, here is our annual recap of this most extraordinairy year. We‘ve come all this way together and here‘s to us ploughing on. Thanks for visiting and be good to yourselves and one another.

january: Bushfires rage across Australia, taking the lives of an estimated billion animals.  We had to bid farewell to historian and Monty Python member Terry Jones and veteran reporter and newscaster Jim Lehrer.  Tragically basketball star Kobe Bryant and his daughter Gianna with seven others died during a helicopter accident.  Trump signs a trade deal with Canada and México to replace NAFTA.  The United Kingdom and Gibraltar formally announce their intention to leave the European Union, initiating an eleven-month transition period.

february: Veteran actor Kirk Douglas passed away, aged one hundred and three as well as fellow actors Orson Bean and Robert Conrad.  A detailed study of the most distant planetary body explored by a space probe, now called Arrokoth, is released.  World stock markets respond early to unease surrounding the spread of the novel SARS virus.  Luxembourg makes all public transportation free to the public. 

march: Actor and singer-song writer Kenny Rogers passed away and we said farewell to Max von Sydow. Playwright Terrence McNally (*1938), actor Mark Blum (*1950), architect Michael Sorkin (*1948), influential Indian chef Floyd Cardoz (*1960), Romanian dissident author Paul Goma (*1935) and saxophonist Manu Dibango (*1933) passed away due to complications of COVID-19.  Composer Krzysztof Penderecki (*1933) whose music scored The Exorcist and The Shining also succumbed after a long bout of illness as did musician Bill Withers (*1938, Lean on Me, .Lovely Day, Just the Two of Us) from heart complications. Breonna Taylor (*1993) was murdered in her apartment in Louisville, Kentucky by police conducting a groundless, no-knock search of the premises. 

april: We had to say goodbye to award-winning musician Adam Schlesinger (*1967) of Fountains of Wayne fame, Alexander George Thynn, Marquess of Bath (*1932), veteran rhythm guitarist Bucky Pizzarelli (*1926), jazz pianist and educator Ellis Louis Marsalis, Jr (*1934), folk musician and storyteller John Prine (*1946) and polymath John Horton Conway (*1937), inventor of among other things of The Game of Life, and comedian Tim Brooke-Taylor (*1940) succumbing to COVID-19.  We say farewell to veteran actress Honor Blackman (*1925), known for her roles in The Avengers and in Goldfinger as Bond Girl Pussy Galore.  We also say farewell to teacher Harriet Mae Glickman (*1925), whom persuaded Charles M. Schultz to include a black character in his comic strip Peanuts, cartoonist and long-time contributor to Mad magazine Mort Drucker (*1929), veteran actor Brian Dennehy and lesbian and civil rights advocate Phyllis Lyon (*1924).

may: founding member of Kraftwerk and electronic music pioneer Florian Schneider (*1947) passed away after a prolonged struggle with cancer.  Entertainer and illusionist Roy Horn (Uwe Ludwig, *1944) of Siegfried & Roy, and Ken Nightingall (*1928), audio engineer and famously known as the Pink Shorts Boom Operator from Star Wars passed away after succumbing to complications of COVID-19.  Pioneering singer and performer Little Richard (*1932) died after a long struggle with cancer as did techno DJ and producer Pascal FEOS (*1968) and rhythm and blues singer Betty Wright (*1953), known for her ability to sing in the whistle register, above falsetto. Veteran actor and comedian Jerry Stiller (*1927) passed away, aged 92.  Monumental artist Christo (*1935 on the same day as his partner in life and professionally Jeanne-Claude, †2009, previously here and here) passed away of natural causes.  Costa Rica legalises gay marriage, the first Latin American country to do so.

june: Rallies and marches rage across the US in response to the brutal murder of Floyd George while being detained by police. Actor Ian Holm (*1931), known for his roles as Napoleon in Time Bandits, Ash in Alien and Bilbo Baggins in the Tolkien adaptations, died from complications of Parkinson’s disease.  Influential graphic designer Milton Glaser (*1929, previously) passed away on his ninety-first birthday.  Iconic comedian and fixture of Japanese television for decades, Ken Shimura (*1950) died of COVID-19.

july: Veteran civil rights activist and politician John Lewis (*1940) passed away after an extended bout with  cancer.  Founder of Fleetwood Mac Peter Green (*1946) has died. Actress Olivia de Haviland (*1916) died of natural causes in her home in Paris, aged 104. The US gross domestic product plummets by a third, prompting Trump to suggest that the November elections be delayed until such time as people can vote safely in person.  Long time Trump and Tea Party supporter and once-time presidential candidate Herman Cain (*1945) died of complications of COVID-19 after contracting the virus during Trump’s rally in Tulsa.

august:  Veteran actor and musician Wilford Brimley (*1934) passed away, dying in hospital suffering from multiple health issues.  John Hume (*1937),  architect of the peace accords in Northern Ireland and instrumental in passing the Good Friday Agreement, has departed.  A giantic explosion occurred in the port of Beirut when chemicals stored in a warehouse there detonated.  Actor and singer behind such standards as “If I Had a Hammer” and “Lemon Tree” Trinidad “Trini” López (*1937) died due to complications from COVID-19.  Media mogul Sumner Redstone who created the production company Viacom, recognising that content was king, passed away, aged 97.  Linguist and long-time contributor to Public Radio Geoffrey Nunberg (*1945) died after coping with a long illness.  The Joe Biden campaign selects Kamala Harris as its running-mate, and both parties hold their conventions virtually.  Kremlin-critic and chief opposition candidate to Vladimir Putin, Alexei Navalny, is presumably poisoned on a flight back to Siberia and is subsequently medically evacuated to Germany.  Black Panther actor and humanitarian Chadwick Boseman (*1976) dies after a four-year battle with colon cancer. Long-time Japanese prime minister Shinzo Abe announces his retirement from elected office over health reasons.

september: Economist and anarchist David Graeber (*1961) passed away at a hospital in Venice, dying from undisclosed causes.  After a short struggle with cancer and last months spent with family and contented reflection, accomplished actor Dame Enid Diana Elizabeth Rigg (*1938) has died.   Interviewed for a new expose by Bob Woodward, Trump admitted on tape months ago that he downplayed the danger of COVID-19, though this revelation seemed to barely rise above the general din of the news cycle and receded quickly in voters’ conscience.  The Polish-government allows twelve municipalities to declare themselves LGBT-ideology free-zones.  Protests continue in Belarus over the disputed reelection of long-serving, Russian-aligned leader Alexander Lukashenko.  Jurist and US Supreme Court associate justice Ruth Bader Ginsburg (*1933) died after a long battle with pancreatic cancer, leaving a court vacancy just before the presidential election.  A grand jury in Kentucky declined to file homicide charges against the police officers who murdered Breonna Taylor.  Australian singer and actor Helen Reddy (*1941) passed away after succumbing to complications from dementia.  During the first US presidential debate, devolving into a messy, nasty political food-fight, Trump refused to denounce white supremacist groups. 

october: After White House aid Hick Hopes tested positive for coronavirus, Donald and Melania Trump were also screened and found to both be carriers.   The nomination ceremony for the US Supreme Court justice to replace the vacancy left by Ruth Bader Ginsburg in the White House rose garden turned into a superspreader event.  Iconic fashion designer Kenzō Takada (高田 賢三, *1939) died from complications of COVID-19.  Singer Eddie Van Halen (*1955) passed away after a long battle with cancer.  The FBI in conjunction with other domestic law enforcement authorities foil a plot by a white supremacists to kidnap the governor of Michigan.  Jacinda Arden remains Prime Minister of New Zealand after her party wins the election in a land-slide victory.  Space probe OSIRIS-REx (previously) arrives at asteroid Bennu and collects mineral samples to bring back to Earth.  Magician and scientific sceptic James Randi (*1928) passes away, aged 92. Despite the US presidential election only being a little more than a week away, the Republican-controlled Senate rush through the confirmation of a young, conservative justice with questionable qualification and adjourn until after the ballots close, leaving those negatively impacted by the continuing pandemic no fiscal relief package.  Actor Sean Connery passed away, aged ninety.  

november: Terror incidents occur in Paris and Vienna.  With most of Europe entering a second quarantine as a firebreak to slow the spread of COVID-19, Germany goes into lockdown-light for the month.  Election Day comes for the United States with nearly one hundred million voters casting their ballots early.  The election is called in favour of Biden and Harris.  Team Trump refuses to concede.  Long time television game show host Alex Trebek (*1940) dies after a long struggle with pancreatic cancer.  Veteran Middle East negotiator Saeb Erekat dies, aged sixty-five, from complications of COVID-19.  The purge of the Trump administration continues with the dismissal of the Defence Secretary for not authorising the mobilisation of the army against protesters and the chief of cyber-security for countering Trump’s false narrative and rightly proclaiming the election the best safeguarded vote in modern US history, and halving troop levels in Iraq, Afghanistan and Sudan by executive decree.  A historic Hurricane Iota ravages Central America, having barely recovered from the last, Hurricane Epsilon.  Not conceding defeat Trump allows the Biden transition team to begin its work.  Argentine footballer, one of the greatest of all time Diego Maradona (*1960) dies of a heart attack.  

december: Courts, including the US Supreme Court, rebuff Trump’s efforts to overturn election results in a nacent coup attempt.  Massive protests in reaction to legislation that liberalises farming practises leave India paralysed.  The first vaccinations against the SARS-CoV-2 virus are administered.  With last-ditch Brexit negotiations poised for failure and the UK to crash out of the EU with no deal, Britain moves to deploy naval warships to protect fishing stocks in its national waters.  Pioneering Country and Western singer Charlie Pride (*1934) passes away due to complications from COVID-19.  Intelligence officer and master of the spy novel, John le Carré (*1931) has died.  French president Emmanuel Macron contracts COVID-19 and goes into quarantine.  The archbishop of Canterbury tells parishioners, especially the vulnerable, that it is not necessary to attend church services on Christmas day, echoed by the Pope and other religious leaders.  Compounding Brexit uncertainty, the final week of the year sees the UK cut off from much of the rest of the world over concerns about a new coronavirus strain that is significantly more transmissable.  A final deal was arranged for the UK leaving the EU at the last minute which spares Britain the worse fate of crashing-out with no deal but is significantly not as good of a trade pact had the UK remained in.  A powerful earthquake shakes Croatia.  French fashion designer Pierre Cardin passes away, aged ninety-eight.

boxing day

Probably an epithet meaning “the crowned one” rather than an actual given name (compare to Saint Corona), this second Christmas marks Saint Stephen’s Day, venerated as the protomartyr (*1-†36) of the Christian faith, the early bishop of Jerusalem stoned to death (lapidation) for his blasphemy against the Sanhedrin, which was witnessed by Saul called Paul whom subsequently spread his sacrifice and steadfastness. As possibly a painful reminder, Stephen’s patronage includes bricklayers and is invoked against headaches. Further as responsible for the distribution of alms for the poor in his office, Stephen’s feast day became associated with opening the charity boxes and donating gratuities to service people and the needy, but aligned with—sometimes supplanted by Black Friday (it took off when the US and Canadian dollars reached parity), in many Commonwealth nations, it has become a day with emphasis on shopping and sales.

nefertiti

Representing chief consort and Great Royal Wife of Amenhotep IV, the iconic limestone bust was discovered on this day in 1912 by a team of archæologists working under the auspices of the Deutsche Orient-Gesellschaft (DOG—the German Oriental Society) led by Ludwig Borchadt in Amarna at site that housed the workshop of celebrated sculptor Thutmose. Since its first going on display to the public in a Berlin museum, Egyptian authorities at the bureau of antiquities have requested that the three-thousand three hundred and fifty year old artefact be repatriated, arguing the significance of the find was downplayed and had inspectors been allowed to fully examine the bust, they would have never allowed it to leave. Focus of aspirations for revanchism after the dissolution of the Prussian monarchy and defeat in World War I, Nefertiti was conscripted for a rather fraught political career of propaganda (see also) in the Third Reich in the years to follow. Presence in the Zeitgeist included the 1935 cinematic portray of the Bride of Frankenstein, patterned after the signature crown, and her role and cultural impact has now been rehabilitated insofar as she is considered the counterbalance to the figure of Tutankhamun and a good-will ambassador for representation, art and the field of Egyptology. The arguments against repatriation, characterising nations outside of Europe too unstable to properly care for their treasures and cultural heritage is particularly rubbished by the way Germany has torn itself apart, Nefertiti sent away for safe-keeping in a salt-mine and nearly lost to history.

barbara of heliopolis

Venerated on this day as a saint and martyr, Barbara was a third century Greek maiden, a steadfast convent and affiliated with the Fourteen Holy Helpers and enjoys an extensive and varied patronage. Barbara was, according to her hagiographer and the Golden Legend, the daughter of a wealthy and prominent pagan whom was seeking to strengthen local allegiances through strategically marrying her off, keeping her locked away in a tower to spare her from outside influence, though in this splendid isolation, Barbara yet became a Christian and rejected the betrothal her father had arranged. Suspecting it was one of her attendants that introduced his daughter to the gospel, her father ordered an adjoining private bath house be added to the tower. The final straw for her father was Barbara’s architectural input to her new quarters, installing three windows to represent the Holy Trinity instead of the two that her father originally designed. Flying into a rage, the father drew his sword, but through the power of prayer, Barbara created a rift in spacetime and opened a portal in the wall of the tower that led her to a remote mountain gorge. There one shepherd betrayed Barbara’s act of teleportation to her father’s men, transformed into stone and his flock of sheep into locusts for divulging her whereabouts. Barbara was captured a brought before the prefect for sentencing brutally tortured though refusing to relent. Daily for some weeks, Barbara would be nightly bathed in a miraculous, healing light and emerge from her prison cell with no wounds or signs of the previous beatings. Burning her failed as well so her father undertook to carry out the punishment of the condemned by beheading Barbara himself. This finally worked but in retribution, Barbara’s father was struck by lightning afterwards and consumed by flames. Due to circumstances surrounding her death, Barbara is invoked against flame and lightning and by extension is the patron saint of dynamiters, pyrotechnicians, artillery and mining—that is any professional who face the danger of sudden and violent death in discharge of their duties, and might not have the change to repent their sins or receive extreme unction at the moment of expiring. According to some sources, the barbiturate family of drugs synthesised first by chemist Adolf von Baeyer (not to be company that was originally a dyestuffs factory founded by Fredrich Bayer) in 1864 on her feast day and are so called in her honour.

embargo

On this day in 1973, OPEC (then OAPEC, the Organisation of Arab Petroleum Exporting Countries despite Venezuela being a charter member) ministers came to a consensus to use their cartel powers to influence the West’s materiel and monetary support for Israel during the Yom Kippur War when the country made incursions into Syria and Egypt, advancing towards the economic and strategically important Suez Canal (see previously) and retaliated against Canada, Japan, the Netherlands, the UK and the US by a crippling quadrupling of prices, a shock to markets that precipitated the 1973 Oil Crisis.

Geopolitical antecedents factoring into this stand-off included the decrease in American petroleum production post-war and the rise of OPEC, the decision to float world currencies—unpegging them from the price of gold—with the US unilateral withdrawal from the Bretton Woods Accord in 1971 and subsequent recession, plus the never neglected opportunity for proxy warfare between the US and its allies and the Soviet Union on a new frontier. Because the embargo, which lasted until March 1974, failed to change the West’s stance on the Arab-Israeli conflict, history judges it as ineffective despite the long-term effect it had on international economics and gradually over the ensuing decades pushed the US towards more domestic exploration of fossil fuels and towards energy independence and globally pressured reforms for financial institutions to control for inflation.  Intermediate effects included fuel rationing, a slow-down in factory-orders, a shift in preference for smaller automobiles and a pivot towards China for manufacturing. 

ihf

We are really enthralled and excited about every last detail of the new promotional campaign for Egypt’s 2021 hand-ball tournament of champions that’s receiving due hype and cheer a year out. The logo is a stylised ankh, the Ancient Egyptian hieroglyphic symbol meaning key of life, and the official national team mascot is the sky god Horus. Check out more from Super Punch at the link above.

parting shot

Launched on 23 July, China’s mission to Mars, Tianwen-1, beamed back this postcard of a crescent Earth and its satellite from a distance of a little over a million kilometres as it accelerates towards the Red Planet.
The image joins a growing gallery of iconic photographs that help bring perspective and humility. The alignment of the two worlds mean that this is among the fastest and most efficient times for Martian travel and Tianwen-1—the first probe of a series of planned excursions and is named (天問) for the eponymous ancient work of epic prose that begins asking how the universe was created, thus Heavenly Questions—was joined during this auspicious launch window by and orbiter from the United Arab Emirates and NASA rover named Perseverance. All three will arrive in February 2021, touching down at Utopia Planitia.

✨#12 – boycotting cheese✨

A family acquaintance has been confined to a hotel and Saudi Arabia, one twitter personality reports, and shares this image of a menu card that strikes me as delightfully pure—first insofar as they would go to such lengths to accommodate Western guests, including at a time like this—during the pandemic, whom was stranded and staying for longer than expected plus through the month of Ramadan.
I also like the level of trust vested in a translating algorithm—since absent anything to check it against, why would one have reason to doubt? Also, interestingly, punctuation seems as important as letters, which seems right in hindsight for someone unfamiliar with the script but had not occurred to me before. That said, tag yourself. Foul, fool, full is probably fūl mudammas—stewed, seasoned fava beans—which is very delicious. We had a hard time choosing between Chicken Dump Truck, A Regular Erika or She is Suspicious of Cheese—and wonder what the story is behind dishes such as Friday, Tuna is a Problem and Worried. Beans, gentlemen.

over a barrel

Though this extraordinary development has not yet translated to free petrol at stations, the total collapse in worldwide demand for oil and full reserves and reservoirs with no excess storage capacity, a key valuation benchmark in the market has inverted the price per barrel, failing to a negative thirty-seven dollars, meaning that traders looking to offload shares would be paying a premium to do so. The situation has been exasperated by America increasing domestic production through fracking, becoming a full-fledged, failing petrostate and glutting the market in the process and a price war between Saudi Arabia and Russia and highlights yet another problem with non-renewable fuel sources that’s a least been partially redress on the renewable market—that of portability and shifting energy and resources to where and where it’s needed.

black monday

Already jittery and fragile in the face of the evolving thread and response to the efforts to contain the spread of the novel coronavirus, world stock markets experienced a sharp, precipitous decline—a drop fast enough to trigger a breaker-switch that suspended trading on Wall Street for a quarter of an hour to give investors a chance to regroup, when the mood was yesterday exacerbated by an oil war that erupted once Russia and OPEC were unable to come to a consensus on the right production numbers to ensure fuel retain value as a commodity during a steep decline in demand due to disruptions in shipping, travel and manufacture over said pandemic.

Saudi Arabia signaled it would flood the market with cheap crude and undercut the competition from Russia and the US—whom both have large reserves but lack the refining capacity, constricting further the prospects where the market could move its money with the retreat en masse to bonds having reduced the yield to under one percent, raising the spectre of defaults and bankruptcy. Italy’s expansion of its quarantine measures nationwide and North Korean missile tests did nothing to elevate spirits. With interest rates at historic lows and many companies’ portfolios just a tick above junk status (a comfortable, low-effort place to be until it suddenly wasn’t) national banks nor advocate stakeholders have really been painted into a corner and can do little to intervene. Though the Trump regime is more interested in the stock market and how his reelection hinges on its performance, the government may be forced to entertain extending the basic right to workers of paid sick leave, though such reform probably smacks too much of creeping socialism to allow it to gain a foothold.