The main source of water for the Gaza Strip is an aquifer that is rapidly becoming depleted and contaminated. In fact, the depletion is so rapid that experts fear that the 1.5 million residents of the occupied territory may run out of water in a matter of years–leading to an unprecedented catastrophe. Finding solutions to the absence of fresh water is extraordinarily difficult and it’s not clear how the issue can be addressed. But what is happening in the Gaza is simply the first example of a looming problem for the world as a whole. A twin feature of the depletion of fresh water is the similarly rapid depletion of fertile soil in various areas of the world.
It’s great to be in the 1%. According to the New York Times, the Chief Executive Officers of the 200 largest corporations in the US had median 2012 pay packages of $15.1 million — an increase of 16 percent from 2011. Lawrence Ellison, the CEO of Oracle, had the highest compensation package of $96.2 million. Aside from the obvious fact (to me, at least, that such compensation is excessive), the real problem is that much of the compensation comes from stock grants and options. This type of compensation creates incentives for CEO to maximize short-term gains without looking at the long-term health of the corporation. Such incentives can lead to disaster, as we saw in the risky behavior of CEOs in the financial markets in 2007-08.
Millions (as many as 14 million out of a total population of 84 million, according to the Egyptian military) protested against the government of Egyptian President Morsi. Even though the temperatures were sweltering, the protests stayed mostly peaceful, although there were scattered acts of violence and four deaths. The size of the protests is a staggering vote of no confidence, but there were no signs whatsoever that Morsi intends to make any changes. Unquestionably, the deteriorating state of the Egyptian economy is a critical determinant of the protests.
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