Wednesday, August 11, 2010


News Links, August 12, 2010

-- Global economic meltdown --
Taleb Says Government Bonds to Collapse, Avoid Stocks
Is this finally the economic collapse? (Fortune)
Bank of Ireland reports £1bn loss
The Fabricated High-Tech Boom (China)
U.S. Is Bankrupt and We Don't Even Know
"The IMF has effectively pronounced the U.S. bankrupt."
U.S. May Be Trapped in Japan-Like Deflation Within 3 Years, Schroder Says
Unemployment is a global problem (Fortune)
EU Orders Germany To Start Onboarding "Bad Debt" To Sovereign Balance Sheet
Canadian stocks post steepest one-day drop since June 29
House prices on Palm Jumeirah sink to three year low (Dubai)
Temporary Recession or the End of Growth?

-- Fault lines/flashpoints --
Taliban calls for boycott of Western aid as Swat Valley ravaged by floods
Focus U.S.A. / Will Israel really attack Iran within a year?
Iran sanctions strengthen Ahmadinejad regime – Karroubi
Iran To Arm Own 'Bladerunner' Boats: Commander
The Point of No Return (on attacking Iran; Atlantic)
The Weak Case for War with Iran (Foreign Policy)
Brazil will back Iran sanctions
Toyota suspends exports to Iran amid nuclear concerns
Colombia and Venezuela restore ties
UN Chief May Be Heading for Showdown with Israel
Mexico rethinks drugs strategy as violence escalates
Russia 'deploys missiles' in breakaway region of Abkhazia
China scholars warn of growing national arrogance
Iraq army will not be ready to take control until 2020, warns Iraqi general
Iraq reconstruction 'hindered by shortfall in US funds'
Kill Christians, Saudi Al Qaeda chief urges
India Deploys Su-30s Near China

-- Energy/resources --
Pakistan: Flood induces gas production cut, aggravates power shortage
China Steps Up Its Nuclear Program
U.S. Refiners Cut Oil-Processing Rates, Analysts Estimate: Energy Markets
Global Coal Supplies: It Might Be Worse Than Anyone Thinks
Call to ban corn-based ethanol production (China)

-- Got food? --
Soaring food prices hit Pakistan
Insects may solve food shortage for growing world population

-- Environment/health --
Antibiotics' efficiency wanes due to global spread of drug-resistant bacteria
Russia combats wildfires in Chernobyl radiation zone
H1N1 influenza pandemic is over, says World Health Organization
Ice island that fell off Greenland glacier could pose threat to oil, shipping
Think this summer is hot? Get used to it

-- Oil disaster --
Has the Oil Well Really Been Capped?

-- UK --
Hundreds of playground schemes mothballed
Bank of England highlights doubts over recovery
Markets dive as depression fears grow
Quiet? Use cash? You could be a terror threat, British ad warns
Employment rise 'down to foreign workers'
Cyber thieves steal $1m from 3,000 bank customers
U.K. military services face huge cuts

-- US --
It's a debt train about to collide with federal obligations (David Stockman)
Growing Federal Debt Threatens To Strangle Recovery (Forbes)
Stocks fall sharply as investors' gloom grows
According to Technical Indicators, Meltdown is Possible
"Anyone invested in stocks right now is running a 70%+ risk of losing money over the coming weeks and months."
U.S. Trade Deficit Unexpectedly Widens to $49.9 Billion in June
Plane angry: Air travel at a breaking point
"Research by the association suggests that 41 million people are avoiding air travel every year because of the so-called 'hassle factor.'" (Demand destruction is working well.)
Major leading indicator in free fall!

And finally... Ditching your cellphone is a power move
P.S. I too got rid of mine.

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