infrastructure development

Nick Benton's Corner" California Water Crisis

CBS' television news magazine, 60 Minutes, devoted a segment last Sunday to the devastating water shortage facing the state of California. Three years of severe drought have left a half-million acres of prime agricultural land fallow in the state's Central Valley, and mandatory water rationing has been imposed on a number of cities.

Nick Benton's Corner: The Biggest Water Project

Posted with permission of Nicholas Benton, owner Editor of the Falls Church News Press.

by Nicholas Benton

As the unemployment rate approaches 10 percent in the U.S., prospects appear clearer that the world faces a deep and persisting economic malaise, the consequence of a combined on-going deflation of impossibly-bloated leveraging instruments and the demise, maybe forever, of frenzied consumer spending habits.

The Obama administration's concept of retooling economic fundamentals away from speculation and consumerism toward solid growth in infrastructure and education has been sound, but getting from here to there will hardly be quick or easy.