U.S. consumer debt jumped by $40 billion in February 2022, an annual increase of 11.3 percent and a new high

Percent change of total consumer credit, seasonally adjusted at an annual rate, March 2002-February 2022. Debt levels jumped by nearly $42 billion to a total of almost $4.5 trillion, an annual increase of 11.3 percent, seasonally adjusted, which set a new high and far outperformed economists’ expectations. In January 2022, total credit had grown only 2.4 percent. Graphic: U.S. Federal Reserve Board

April 18, 2022

U.S. consumer debt jumped by $40 billion in February 2022, an annual increase of 11.3 percent and a new high

By Anneken Tappe 7 April 2022 NEW YORK (CNN Business) – Americans got into a lot more debt in February as rampant inflation kept up the pressure, the Federal Reserve’s consumer credit report showed Thursday. Debt levels jumped by nearly $42 billion to a total of almost $4.5 trillion. That’s an annual increase of 11.3%, seasonally adjusted, far outperforming […]

Anti-solar supporters pose for a portrait at the Johnson County BOCC public hearing on the solar amendments recommended by the Planning Commission in Olathe, Kansas, U.S., 4 April 2022. Photo: Arin Yoon / REUTERS

April 9, 2022

U.S. solar expansion stalled by rural land-use protests – “It’s pretty obvious that, if there’s a climate urgency, we’re not behaving that way”

By Nichola Groom 7 April 2022 (Reuters) – The Solar Star project in California is among the largest solar energy facilities in the world, boasting 1.7 million panels spread over 3,000 acres north of Los Angeles. Its gargantuan scale points to an uncomfortable fact for the industry: a natural gas power plant 100 miles south […]

Death rates from all drug poisonings per 100,000 Washington state residents, 2003-2020. Graphic: UW ADAI

April 9, 2022

DEA warns of “mass overdose events” from fentanyl as deadly trend spreads across U.S. – “I’ve been doing drug-trends research for 20 years, and fentanyl’s growth is the biggest, fastest shift we’ve ever seen—and also the most lethal”

By Beth Dalbey 7 April 2022 SEATTLE, Washington (Patch) – A rash of deadly “mass overdose events” across the country has the Drug Enforcement Administration warning Washington and other states to prepare for the worst. Drug Enforcement Administration head Anne Milgram said in the letter to local, state and federal law enforcement officials that in […]

FAO Food Price Index (left) and FAO Food Commodity Price Indices (right), January 2021 - March 2022. Graphic: FAO

April 8, 2022

The FAO Food Price Index makes a giant leap to another all-time high in March 2022

8 April 2022 (FAO) – The FAO Food Price Index (FFPI) averaged 159.3 points in March 2022, up 17.9 points (12.6 percent) from February, making a giant leap to a new highest level since its inception in 1990. The latest increase reflects new all-time highs for vegetable oils, cereals, and meat sub-indices, while those of […]

A houseboat rests in a cove at Lake Powell near Page, Arizona on 30 July 2021. In the summer of 2021, the water levels hit a historic low amid a climate change-fueled megadrought engulfing the U.S. West. Severe drought across the West drained reservoirs in 2021, slashing hydropower production and further stressing the region’s power grids. And as extreme weather becomes more common with climate change, grid operators are adapting to swings in hydropower generation. Photo: Rick Bowmer / AP Photo

April 6, 2022

Lake Powell hits historic low, raising hydropower concerns – “We clearly weren’t sufficiently prepared for the need to move this quickly”

By Sam Metz and Felicia Fonseca 16 March 2022 SALT LAKE CITY (AP) – A massive reservoir known as a boating mecca dipped below a critical threshold on Tuesday raising new concerns about a source of power that millions of people in the U.S. West rely on for electricity. Lake Powell’s fall to below 3,525 […]

Lake Mead end of month elevations, projections from the February and March 2022 24-month study inflow scenarios. Water year 2022 got off to a promising start in the Colorado River Basin with a wetter-than-normal October, but it was followed by the second-driest November on record and resulted in a loss of 1.5 million acre-feet of inflow for Lake Powell compared to the previous month’s projections. December projections showed the reservoir dropping below the target elevation of 3,525 feet as early as February 2022. As defined in the Drought Response Operations Agreement, the target elevation provides a sufficient buffer to allow for response actions to prevent Lake Powell from dropping below the minimum power pool elevation of 3,490 feet, the lowest elevation that Glen Canyon Dam can generate hydropower. Graphic: U.S. Bureau of Reclamation

April 4, 2022

Empty canals, dead cotton fields: Arizona farmers are getting slammed by 2022 water cuts in the U.S. West – “We’re not making one dime off this farm right now”

By Emma Newburger 3 April 2022 CASA GRANDE, Arizona (CNBC) – On the drought-stricken land where Pinal County farmers have irrigated crops for thousands of years, Nancy Caywood stopped her pickup truck along an empty canal and pointed to a field of dead alfalfa. “It’s heart wrenching,” said Caywood, a third-generation farmer who manages 247 […]

Number of March tornadoes across the United States, 2013-2022. March 2022 saw more tornadoes in the U.S. than any March on record. Data: NCDC / Storm Prediction Center Graphic: CNN

April 3, 2022

March 2022 set new U.S. tornado record for second year in a row – Scientists are seeing a dangerous shift in early-spring tornadoes

By Caitlin Kaiser and Brandon Miller 31 March 2022 (CNN) – This month has seen more tornadoes in the US than any March on record following this week’s severe weather outbreak. It’s the second year in a row the country has endured a record number of tornadoes in March, solidifying a trend toward more severe weather […]

Futures prices of West Texas intermediate crude oil and lithium, May 2021-March 2022. Graphic: Bloomberg

March 29, 2022

A world that’s more expensive is starting to destroy demand – “A renewed spike in gas prices would see demand destruction become more widespread”

By David R Baker, Allison Smith, and Sheela Tobben 27 March 2022 (Bloomberg) – Prices for some of the world’s most pivotal products – foods, fuels, plastics, metals – are spiking beyond what many buyers can afford. That’s forcing consumers to cut back and, if the trend grows, may tip economies already buffeted by pandemic […]

John Lawrence and Payton Campbell (unseen at rear) with their children Harlow and Aria inspect a flooded road near their home on 2 March 2022 in Dungay, Australia. Several northern New South Wales towns were forced to evacuate as Australia faced unprecedented storms and the worst flooding in a decade. Photo: Dan Peled / Getty Images

March 29, 2022

Coastal home buyers are ignoring rising flood risks, despite clear warnings and rising insurance premiums

By Risa Palm and Toby W. Bolsen 25 March 2022 (The Conversation) – Apollo Beach, Florida, is a maze of canals lined with hundreds of houses perched right near the water’s edge. The whole community, just south of Tampa, is only about 3 feet above sea level, meaning it’s at risk from storm surge as […]

Tokyo Tower is illuminated only in the lower-half part in response to the government’s request to save electricity in Tokyo, Japan on 22 March 2022. Photo: Issei Kato / REUTERS

March 27, 2022

The future of energy will require bigger sacrifices from citizens – “If you don’t want to act on going 1 degree lower for climate change, do it against Putin”

By Stephen Stapczynski and Shoko Oda 25 March 2022 (Bloomberg News) – Not since the late 1970s have governments around the world been under so much pressure to ask their citizens to cut energy consumption for the greater good. The need for more energy conservation has snowballed: The war in Ukraine is forcing Europe to curb […]

Desdemona Despair

Category: North America