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Tuesday, 19 May 2015

World debt to GDP ratio: 286 percent

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© theeconomiccollapseblog.com

    
Did you know that there is more than $28,000 of debt for every man, woman and child on the entire planet? And since close to 3 billion of those people survive on less than 2 dollars a day, your share of that debt is going to be much larger than that. If we took everything that the global economy produced this year and everything that the global economy produced next year and used it to pay all of this debt, it still would not be enough. According to a recent report put out by the McKinsey Global Institute entitled "Debt and (not much) deleveraging", the total amount of debt on our planet has grown from 142 trillion dollars at the end of 2007 to 199 trillion dollars today. This is the largest mountain of debt in the history of the world, and those numbers mean that we are in substantially worse condition than we were just prior to the last financial crisis.

When it comes to debt, a lot of fingers get pointed at the United States, and rightly so. Just prior to the last recession, the U.S. national debt was sitting at about 9 trillion dollars. Today, it has crossed the 18 trillion dollar mark. But of course the U.S. is not the only one that is guilty. In fact, the McKinsey Global Institute says that debt levels have grown in all major economies since 2007. The following is an excerpt from the report...

Seven years after the bursting of a global credit bubble resulted in the worst financial crisis since the Great Depression, debt continues to grow. In fact, rather than reducing indebtedness, or deleveraging, all major economies today have higher levels of borrowing relative to GDP than they did in 2007. Global debt in these years has grown by $57 trillion, raising the ratio of debt to GDP by 17 percentage points(Exhibit 1). That poses new risks to financial stability and may undermine global economic growth.

What is surprising is that debt has actually grown the most in China. If you can believe it, total Chinese debt has grown from 7 trillion dollars in 2007 to 28 trillion dollars today. Needless to say, that is absolutely insane...

China's debt has quadrupled since 2007. Fueled by real estate and shadow banking, China's total debt has nearly quadrupled, rising to $28 trillion by mid-2014, from $7 trillion in 2007. At 282 percent of GDP, China's debt as a share of GDP, while manageable, is larger than that of the United States or Germany. Three developments are potentially worrisome: half of all loans are linked, directly or indirectly, to China's overheated real-estate market; unregulated shadow banking accounts for nearly half of new lending; and the debt of many local governments is probably unsustainable. However, MGI calculates that China's government has the capacity to bail out the financial sector should a property-related debt crisis develop. The challenge will be to contain future debt increases and reduce the risks of such a crisis, without putting the brakes on economic growth.

What all of this means is that our long-term global economic problems have gotten much, much worse. This short-lived period of relative stability that we have been enjoying has been fueled by unprecedented amounts of debt and voracious money printing. Anyone with half a brain should be able to see that this is a giant financial bubble, and in the end it is going to unwind very, very painfully. The following comes from a Canadian news source...

At the beginning of 2008, government accounted for a smaller portion of the debt pie than corporate, household or financial debt. It now exceeds each of those other categories.

"The current situation is much worse than in 2000 or 2007, and with interest rates near or at zero, the central banks have already used up their ammunition. Plus, the total indebtedness, especially the indebtedness of governments, is much higher than ever before," said Claus Vogt, a Berlin-based analyst and co-author of a 2011 book titled .

"Every speculative bubble rests on some kind of a fairy tale, a story the bubble participants believe in and use as rationalization to buy extremely overvalued stocks or bonds or real estate," Mr. Vogt argued. "And now it is the faith in the central-planning capabilities of global central bankers. When the loss of confidence in the Fed, the ECB etc. begins, the stampede out of stocks and bonds will start. I think we are very close to this pivotal moment in financial history."

But for the moment, the ridiculous stock market bubble continues.

Internet companies that didn't even exist a decade ago are now supposedly worth billions upon billions of dollars even though some of them don't make any money at all. There is even a name for this phenomenon. Internet companies that have gigantic valuations without gigantic revenue streams are being called "unicorns"...

A dizzying mix of bold ideas and lavish investments has catapulted dozens of privately held start-ups to unicorn status, defined as having market valuations of at least $1 billion often without soaring revenues to match. Social-sharing site Pinterest has soared to $11 billion. Ride-hailing company Uber is now worth a staggering $50 billion.

How long can the party last?

And these days, Wall Street even rewards companies that lose huge amounts of money quarter after quarter. For example, just check out what happened when JC Penney announced that it only lost 167 million dollars during the first quarter of 2015...

Yippee!!! JC Penney ONLY lost $167 million in the first quarter. The Wall Street shysters are ecstatic because they BEAT expectations. Buy Buy Buy.

This loss now brings JC Penney's cumulative loss since 2011 to, drum roll please, $3.5 BILLION. They haven't had a profitable quarter in over four years. But, they are always on the verge of that turnaround just over the horizon.

Wall Street has told you to buy this stock from $42 in 2012 to it's current pitiful level of $9. They tout the wonderful 3.4% increase in comparable sales. They fail to mention that first quarter 2016 sales are only 30% below first quarter sales in 2011.

They fail to mention that JC Penney burned through another $274 million of cash in the first quarter. Their equity has dropped by $1 billion in the last year, while their long term debt has gone up by $500 million.

This is how irrational Wall Street has become. JC Penney is ultimately going to zero, and yet there are still people out there that are pouring huge amounts of money into that financial black hole.

Sadly, the truth is that Wall Street is headed for a very painful awakening.

What we are experiencing right now is the greatest financial bubble of all time.

What comes after that is going to be the greatest financial crash of all time.

199,000,000,000,000 dollars of debt is about to come crashing down, and the pain of this disaster will be felt by every man, woman and child on the entire planet.

'Ag-gag' law targeting undercover workers adopted in North Carolina

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© Ross Kinnaird/Getty Images/AFP

    
Senators in North Carolina passed a bill penalizing all video and audio recording in restricted workplace areas. Critics say it unfairly targets whistleblowers. Previously passed by the House, the bill is now headed to the governor for signature.

The state Senate passed House Bill 405, titled the "Property Protection Act," by a vote of 32-13 on Monday night. The bill would allow business or property owners to press charges against employees who intentionally enter restricted areas to record sound or video, reported Raleigh television station .

North Carolina governor Pat McCrory is expected to sign the bill into law.


The bill was sponsored by state Senator Brent Jackson, a Republican from Autryville. Jackson, a farmer, has twice previously proposed legislation, dubbed 'ag-gag' by critics, seeking to outlaw clandestine recording of agricultural practices by animal welfare activists. In recent years, several of such secret videos have exposed questionable practices at cattle and poultry farms in North Carolina.

However, public radio in Charlotte noted that the bill, as written, applies to all businesses in North Carolina and not just the farms. Any employee that knowingly records audio and video at the workplace and makes it public can be sued for court costs, punitive damages of $5,000 a day, and compensation for any actual damages caused by the recording's release.

Backers of Jackson's bill say it protects property owners from rivals or activists trying to steal information, but does not apply to whistleblowers. Critics of the bill disagree.

Senator Josh Stein, a Democrat from Wake, argued the bill would penalize whistleblowers, noting that North Carolina's whistleblower laws only protect employees in matters concerning their specific workplace rights, such as wages, workers' compensation and worksite health and safety rules.

"Our whistleblower law does nothing for an employee who brings forth a violation of the law that affects the general public," Stein said, citing the example of a pharmacist who might find his employer using drugs past their expiration date, but face civil liabilities under Jackson's bill if he took a picture of the expired drug label.

"We should not be going so far," Stein pleaded. "The public will be worse off as a result of this bill."


Senator Jackson says employees will not be liable for filming in areas where they are allowed to be. "This has to do with employees going to places they're not allowed to go," he said. "As long as they're allowed to move in those facilities, they wouldn't be liable."

Several states have enacted 'ag-gag' legislation, most notably Utah, Idaho, Wyoming and Iowa. Activists who seek to document factory farm abuses are already subject to the federal Animal Enterprise Terrorism Act, which allows harsh punishment for any damage resulting in a loss of property or profits for any entity that has a "connection to, relationship with, or transactions with an animal enterprise."

Iron in the brain boosts Alzheimer's risk

© old person/iStockphoto

    
High levels of iron in the brain indicates you are more likely to develop Alzheimer's, say researchers.

The findings, published in in , suggest it might be possible to arrest the disease using drugs that remove iron from the brain.

"We think that iron is contributing to the disease progression of Alzheimer's disease," says neuroscientist Dr Scott Ayton from the University of Melbourne.

"This is strong evidence to base a clinical trial on lowering iron content in the brain to see if that would impart a cognitive benefit."

Ayton says iron was first implicated in Alzheimer's disease in the 1950s, following post mortem studies showing higher iron levels in the brains of those with the disease.

"But there has been debate for a long period of time whether this is important or whether it's just a coincidence," says Ayton.

To help settle this question, Ayton and colleagues studied the link between iron and Alzheimer's disease in three groups of people: 91 people with normal cognition; 144 people with mild cognitive impairment; and 67 people with Alzheimer's disease.

At the beginning of the study, the researchers measured the iron binding protein, ferritin, in cerebrospinal fluid that surrounds the brain, as a proxy for iron levels in the brain.

Over the next seven years they carried out regular cognitive tests and took MRI brain scans to look for degeneration in the brain.

In all three groups, those with high levels of ferritin had poorer cognition over the study period, had accelerated shrinkage of the hippocampus -- part of the brain involved in consolidating memories -- and were more likely to progress to Alzheimer's disease.

In the first study to quantify the effect of iron on Alzheimer's risk, Ayton and colleagues found that every 1 nanogram per millilitre increase in ferritin levels resulted in the the onset of Alzheimer's occurring three months earlier.

Ayton says the concentration of ferritin was at least as good at predicting progression to Alzheimer's as more traditional biomarkers, such as beta amyloid protein and tau protein.

Interestingly, the researchers found that those with the APOE-e4 gene variant, which is known to be the strongest risk factor for Alzheimer's after ageing, had the highest levels of ferritin in their cerebrospinal fluid.

This suggests that APOE-e4 may be increasing Alzheimer's disease risk by increasing iron levels in the brain, says Ayton.

Drug targets

Most Alzheimer's drugs try to stop the formation of plaque in the brain, caused by beta amyloid.

But so far, says Ayton, after 10 phase III clinical trials, this strategy has not worked.

Ayton suggests instead that it would be better to stop the build up of iron.

Just as there are drugs to remove excess iron in people with beta-thalassemia, he says there are safe drugs that could be used remove iron from the brain.

Ayton says the study also compared the levels of iron in the blood with that in the brain, and the findings suggest people should not worry about their iron intake.

Diet, iron supplements and giving blood would not alter the amount of iron in the brain, he says.

"Our evidence suggests that the amount of iron in the rest of your body doesn't affect the iron levels in your brain."

Giant craters found in Swiss Lake

© ETH Zurich
The "Crazy crater" is 525 feet (160 meters) wide.

    
Four giant craters were found by accident in the muddy floor of one of Switzerland's largest lakes, a new study reports.

Researchers surveying Lake Neuchâtel for evidence of past earthquakes spotted the craters near the lake's northwestern shore near the Jura Mountains. The biggest crater is 525 feet (160 meters) wide and almost 100 feet (30 m) deep. The pits are among the largest and deepest pockmarks ever found in Earth's lakes, the researchers said. The giant craters are similar in size to seafloor pockmarks created by methane-gas explosions. However, the researchers think that erupting groundwater excavated these "crazy craters."

"These craters are, in fact, springs," lead study author Anna Reusch, a doctoral student at the ETH Zurich Geological Institute, said in a statement.

Reusch and her co-authors found the craters at water depths of 328 feet (100 m) or more. The team was using ship-based sonar to search for sediment that had been disturbed by earthquakes.

The Swiss Alps occasionally shake from earthquakes of up to magnitude 6, studies have shown. Scientists are also investigating the risk of earthquake- and landslide-triggered tsunamis in Alpine lakes. In the past decade, researchers have discovered that tsunamis wiped out villages along the shores of both Lake Geneva and Lake Lucerne in the past 1,500 years.

But instead of ancient quake or tsunami deposits, Reusch and her colleagues stumbled upon an enormous feature they dubbed Chez-le-Bart crater ("Crazy crater"). "I never expected anything like this," Reusch said. "The craters were so interesting that we simply had to take a closer look at this phenomenon," she added.

© ETH Zurich
A schematic cross-section of a Lake Neuchâtel crater.

    
No one knows for sure how the craters formed, but the pits appear to occasionally spill over, perhaps violently, the researchers reported. The mud eruptions left behind distinctive layers of sediment that look similar to volcanic lava flows. The spillovers happened at least four times in the past 12,000 years, according to the study. The last mud eruption at Crazy crater happened 1,600 years ago, Reusch said.

Today, Crazy crater is filled with churning slurry of wet mud. The mix of water and sediment hides a deep crack that penetrates nearly 200 feet (60 m) down toward the underlying bedrock, the study researchers reported. Water welling up into the crack keeps the mud in motion.

The research team conducted detailed surveys of water and sediments in and around the craters. The results suggest these unusual features are connected to the Jura Mountains karst system, an underground network of limestone caves and cracks. The same limestone underlies the lake, and the scientists think that groundwater is bubbling up into the craters through cracks in the limestone rock. At least one crater directly overlies a major earthquake fault.

For instance, water inside Crazy crater is 47 degrees Fahrenheit (8.4 degrees Celsius), but the surrounding lake water is colder, at just 42 F (5.8 C). Chemical markers in the local karst groundwater are also a match for water drawn from the craters, Reusch and her co-authors reported April 21 in the journal

Swiss aid convoy delivers 300 tonnes of chemicals to clean Donetsk water

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© Sputnik/ Mikhail Voskresenskiy

    
The water treatment chemicals - mainly aluminium sulphate — will provide 3.5 million people on both sides of the contact line with clean drinking water, according to Swiss authorities.

The convoy is allegedly the largest to have crossed the line of contact between Kiev-led forces and Donetsk militia since an armed conflict broke out in eastern Ukraine in April 2014.

"A 15-truck convoy organized by Swiss Humanitarian Aid reached the city of Donetsk in eastern Ukraine today. After a journey of several hours from Dnipropetrovsk through areas on both sides of the contact line, the convoy delivered approximately 300 tonnes of chemicals to the Donetsk water company," the statement, published Friday, reads.

Over a year of fighting has put the Donetsk region on the verge of a humanitarian disaster, as important infrastructure has been destroyed and many local residents have been left without food, drinking water and electricity.

Switzerland has for months been providing aid to people affected by the conflict on both sides of the contact line. In addition to sending water treatment chemicals, Swiss Humanitarian Aid works alongside its Czech partner organization People in Need to repair damaged homes.

USGS: Earthquake Magnitude 6.7 - Pacific-Antarctic Ridge

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From sugar to Monsanto

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Today's occupation of Hawaii by the Agrochemical Oligopoly

Hawai'i's year-round growing season is purportedly the main reason that the global agrochemical-seed industry has located itself in the islands. Monsanto, Dow, DuPont, Syngenta and BASF claim that they operate in Hawai'i solely because of its "natural resource competitive advantage," and that their "contributions ... are at no cost to the State." It is certainly true that Hawai'i's climate is favorable for speeding up the cultivation of herbicide-resistant seeds and testing other agricultural technologies. But a lot more than sunshine makes Hawai'i's soils ideal to growing agrochemical industry products, and the social and political arrangements that facilitate the industry's occupation of the islands are neither "natural" nor without public costs.

Neoliberalism and American Imperialism

Hawai'i has long been a subject of U.S. imperialism—islands used for the generation and extraction of wealth (especially within the sphere of agribusiness), and a hub of its military operations. The current occupation of Hawai'i by agrochemical-seed corporations should first be situated within the context of the global conditions that have given rise to the industry in its present form—neoliberal capitalism and American dominance which, together, facilitate increasingly extensive privatization, corporate power and monopoly. Today just six companies control the worldwide markets in commercial seeds, agrochemicals and biotech traits, forming an oligopoly with tremendous power within the global food system.

While often (erroneously) called "free-market" policies, increasing amounts of government intervention and bureaucracy are required to secure the property rights, markets and profits of Monsanto and the gang. The U.S. compels other countries to adopt the "complex mélange of laws" that enable the agrochemical-seed industry to exclusively "own" seeds and restrict farmers from replanting. This state-enforced privatization creates new markets and profit opportunities for corporate agribusiness, while dismantling millennia old arrangements of collective seed saving, sharing and innovation by farmers.

As fewer companies have come to dominate the seed and agrochemical markets, poorer countries and farmers have been made increasingly dependent on global markets and these companies for agricultural inputs. Corporate-dependence is a direct result of neoliberal policy led especially by the U.S., which encouraged (or forced) a retreat of government support for agricultural development while "liberalizing" markets and devastating smallholder food production systems in the process.

While food producers and consumers rely on regulatory oversight of pesticides for their safety, regulation is a nuisance to the industry and can limit markets and profits. It has become common practice for the U.S. government to campaign, coerce and sue to weaken or wipe-out pesticide and Genetically Modified Organism (GMO) regulations in other countries, often in the name of "trade."

Of current importance, major proposed new international agreements like theTPPA (Trans-Pacific Partnership Agreement) and TTIP (Transatlantic Trade and Investment Partnership) indicate a push for "harmonizing" participating countries' laws to permit the use of banned chemicals, to allow higher levels of pesticides used on foods imported from the U.S., and to block public access to "confidential business information" about pesticide ingredients and dangers. Official government "trade" negotiators are agrochemical-seed (as well as oil, tobacco and other major corporate) industry lobbyists, and chemical corporations themselves serve as advisors with access to top-secret proposed agreement text that even Congress members do not have.

Significant U.S. government funds, including national security resources, are spent enforcing and promoting the private interests of agrochemical-seed companies. The U.S. intervenes in other countries' affairs on direct behalf of Monsanto, including to negotiate seed royalty settlements, accelerate approval of their crops, and extend patent lengths. Meanwhile, Monsanto is pursuing mega-mergers that may enable it to avoid paying U.S. taxes.

The U.S. government's commitment to and investment in the agrochemical oligopoly currently roots itself in Hawai'i's soils, considered by many activists to be an illegally occupied territory. Agrochemical companies locate in Hawai'i because of its (highly contested) place "within" the U.S. Likewise, Puerto Rico—another colonized tropical island—is a main site of agrochemical experimental operations.

When the seed industry first arrived to Hawai'i in the 1960s, it was made up of dozens of small companies operating on the fringes of plantation lands. Beginning in the 1990s, these smaller companies were acquired by chemical corporations and began expanding onto lands recently vacated by sugar, while morphing their operations to reflect the novel directions of the emerging chemical+seed oligopoly—most notably, growing seeds engineered to be resistant to their herbicides, and testing new genetically engineered crops.

Operating within the United States is critical for the patent and other "protections" provided to the industry, as well as for the deregulatory approacht aken in regards to worker rights, human health and environmental protections. The U.S. regulatory system allows for activities that are prohibited in other developed countries, including the use of 82 pesticides banned in Europe. Some of these pesticides are used on an almost daily basis next to Hawai'i homes and schools. At the same time, "trade secret" protections block neighboring residents and even the State of Hawai'i from accessing basic information about open-air pesticide use. In other words, foreign corporations like Syngenta and BASF are permitted, indeed incentivized, to do things in Hawai'i that they are restrictedfrom doing in their home countries.


Operating within the U.S. is also necessary to the fluidity of the agrochemical industry's activities, enabling easy transfer through phases of seed growing and distribution, as well as between R&D and commercialization. Hawai'i has thus become an important node in the global chain of production the oligopoly uses to control the worldwide commercial seed, agrochemical and biotech markets.

Local Policy: from Sugar to Monsanto

Over the past decades, Hawai'i has changed from a landscape dominated by tropical monocrops of sugar and pineapple, to one of agrochemical-seed product development on the peripheries of a military-tourism economy. However, in many ways, today's plantations operated by Monsanto and Syngenta do not stray far from those of the "Big Five" sugar oligarchy's. Agrochem has directly inherited sugar's infrastructures and institutions and, similarly, operates by way of consolidated wealth, power and resource control, all undergirded by American hegemony and colonialism. As with all plantations, benefits are largely privatized while costs are socialized.

Without favorable land, water, forest, labor, infrastructure, tax and trade policies, sugar could not have been competitive or profitable on the global market, and the "Big Five" sugar oligarchy could not have held so much wealth and economic control. Likewise, in addition to U.S. government facilitation of product monopolies and corporate dominance, agrochemical operations today are conditioned upon a range of supports from the State of Hawai'i and general public—including the subsidization of land, water, research, infrastructure, pollution abatement and public health costs.

Land acquisition by agrochemical corporations is enabled by Hawai'i's colonial-plantation history of consolidated land control and State management of lands seized from the Hawaiian Kingdom in its overthrow. Like sugar, much of the land that the industry operates on are "State" lands that Native Hawaiians continue to be dispossessed of. Leases include 20 - 35 year agreements, most for over 2,000 acres, at rates as low as $50/acre/year for tillable acres and $1/acre/year for non-tillable acres. Hawai'i's plantation-descendant, large landholders similarly lease extensive acreage to the industry, reportedly evicting local farmers and ranchers for the higher paying multinationals.

Essential to the agrochemical companies, these large tracts of prime agricultural lands include irrigation infrastructure from sugar days, some of it maintained with public funds. While Hawai'i's laws guarantee water as a public trust resource, it continues to be diverted for the benefit of Hawai'i's most powerful business and landowning interests, leaving streams dry and Native Hawaiians, local farmers, and other users without water. Earthjustice alleges that the State's Agribusiness Development Corporation is "hoarding" and "dumping" millions of gallons of water daily where they lease lands to agrochemical companies. In addition to irrigation, ex-sugar lands are already equipped with drainage, electrical power and roadway systems to service the new corporate agribusiness tenants.

Direct financial contributions provided to agrochemical companies includeproperty tax breaks, General Excise Tax exemptions, and a history of unpaid taxes. Further, in the early 1990s policy-makers began offering investment capital and tax incentives for agricultural biotechnology research and development. A long, sugar-shaped history of cooperative relationship between large industry, federal and island governments, and public and private research institutions continues to operate for the agrochemical companies today. This both sidelines other agricultural research pathways in the public interest, and has raised concerns at the University of Hawai'i about the influence of agrochemical companies on intellectual inquiry. (Editor's note: more on this Wednesday.)

Amongst subsidies granted to both sugar and the agrochemical industry today, perhaps most lasting is the state-sanctioned use of the environment, which includes affects on marine ecosystems, soil microbes, native species, forests and freshwaters.

Other "externalized" impacts include those on worker rights, public health and economic well-being. Structural poverty, together with national and local policy, create the conditions for underpaid and under-protected labor in the islands. Federal guest-worker schemes enable agrochemical companies to bring in workers from poorer countries who lack the legal protections of citizens. While not well investigated in Hawai'i, "guest" workers are systemically vulnerable to debt servitude, wage exploitation, dangerous working conditions and denial of long-term medical care. Hawai'i is widely-considered one of the worst states in terms of policy that protects victims of human trafficking, including within the realm of agricultural labor. The primary anti-slavery organization in Hawai'i says it has documented multiple migrant worker deaths directly attributable to pesticides on both agrochemical company operations and local farms.

While some U.S. states have adopted public-health pesticide regulations to address inadequacies in federal law, Hawai'i has failed to do so. Hawai'i is one of only 19 states without regulations addressing the use of pesticides on or near schools. The Hawai'i Department of Agriculture, other State departments, large landowners, the Hawai'i Farm Bureau, and the industry all offer remarkably consistent lobbying positions against any and all proposed pesticide regulation, while county initiatives for health and environmental protection from agrochemical operations have been blocked in the courts.

While government support for agriculture is absolutely necessary to the public good, what is too often blurred is the difference between support for an agrifood system that contributes to goals of equality and sustainability, and support for large corporate agribusiness. "Agricultural interests" are not uniform or singular; very different, and sometimes competing, possibilities for Hawai'i's people are at stake. The frequent assertion that the agrochemical companies help to sustain local farming operations neglects the complete story of all that they displace and preclude. Further, that dominant narrative does not account for the wide range of public subsidies and supports that we all pay for their private benefit, or how we could, instead, direct precious natural resources, infrastructures, institutions and government funds to a different kind of food system and economy.

Hawai'i's sugar oligarchy past left largely intact a mono-economy: today's military and corporate tourism-based economy. Economic diversification is a widely-shared policy priority, and the agrochemical industry presents itself as an appealing "agricultural" and "high-tech" industry alternative, purportedly also contributing millions to the economy. But the industry's claimed contributions say nothing about to whom the vast majority of their benefits accrue, or the "costs" of pesticide exposure and toxic dust with which some communities are burdened. We should seek not mere "diversification" of Hawai'i's inequitable and dependent mono-economy—simply shifting toward a little less corporate tourism and a little more Monsanto agriculture—but seek to truly depart from a plantation past. Just as a plantation-structured society is not merely a "natural" matter of sunshine and "market advantage," so too is it not inevitable.

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