Monday, December 13, 2010


News Links, December 14, 2010

-- Global economic meltdown --
China Leaders Emphasize Fighting Inflation in 2011
China Said to Plan for at Least $1.1 Trillion of New Lending
Beijing Moves to Untangle Traffic
Another one of the insane contradictions of the infinite-growth economy. -- RF
Portugal asks China to buy its government bonds
Market alarm as US fails to control biggest debt in history
The eurozone is in bad need of an undertaker (Ambrose Evans-Pritchard)
Danish Top-Rated Mortgage Debt Draws Investors Fleeing Crisis
EU Will Discuss Crisis Mechanism as ECB Grapples With Banks
Hungary rolls back pension reform, defies markets
Governments everywhere are going to be grabbing pension assets to shore up their crumbling fiscal edifices. Kiss your retirement goodbye. -- RF
Japan PM Orders 5 Percentage Point Cut In Corporate Tax Rate
Last Week The ECB Bought A Whopping €2.7 Billion In Sovereign Bonds

-- Fault lines/flashpoints/military --
Canada, U.S. on verge of North American trade, security 'perimeter'
Taliban small-arms attacks nearly double
Iran not a rogue state: Australia
Kuwait shuts down Al Jazeera office
Stockholm suicide bombing: Military staffer knew about attacks: report

-- Energy/resources --
OPEC Cheating Most Since 2004 as $100 Oil Rises Supply
Crude Rises as China Imports More Oil, Increases Refining Rates to Record
The Hungry Dragon: Global Implications of China's Insatiable Appetite for Coal
Cambodian PM to Sign 15 Deals During China Visit
Chinese oil company wins drilling contract in Norway
Rubber Climbs to Record in Tokyo as Supply Shortage May Deepen on China
Palm Oil Advances to 30-Month High on Malaysian Supply Concern
Huge wave of US coal plant closures coming, new reports find
Rare Earth Production Revs Up as Shortage Looms
Look at these stories. Shortages and higher prices are looming everywhere. Fault lines are developing and something's gotta give. -- RF
Sailboats make a comeback

-- Got food? --
Aussies eye China for kangaroo meat sales
Bloomberg's "Chart Of The Day" Warns Of Coming Surge In Wheat, Corn Prices
Higher food prices are a done deal. More expensive energy, crop failures, export curbs, higher demand, and other factors are exerting strong upward pressure on prices. Learn to grow food, and build a supply of preserved food. I recommend at least a six-month supply. -- RF

-- Environment/health --
Unusually Cold Weather Killing Florida's Manatees
Snow storm snarls Midwest: Is US facing another extreme winter?
Worms eat into GM crop myth - Insects expected to drop dead thrive on cotton plants (India)
US southwest could see 60-year drought: Study

-- Intelligence/security/internet --
Anonymous Cripples Amazon Site in Europe
Amazon says outage was caused by "hardware failure"
YouTube is letting users decide on terrorism-related videos

-- UK --
UK household finances still stretched, survey suggests
British household debts reach a record high
Britain braced for snow and plunging temperatures
Local councils 'face average 4.4% cut'

-- US --
American icon A&P goes bankrupt
The Deluge Of 99ers Begins... Now
Bad news for Generation Y: Older workers clinging to jobs
As Congress tells schools to raise lunch prices, some worry kids will go hungry
Washington state food banks face challenges
Could the Farmland Bubble be about to Burst? What Will this Mean for Corn Ethanol
Fed's 'easy-money' plan may be backfiring
Duh! -- RF
Bank of America's $1 Billion Toxic Asset Sale
Companies Cling to Cash
Detroit Mayor Plans to Halt Garbage Pickup, Police Patrols in 20% of City; Expect Bankruptcy, Massive Municipal Bond Turmoil in 2011
Detroit is a bellwether. Eventually cities everywhere will find themselves curtailing municipal services. -- RF
Charting America's Transformation To A Part-Time Worker Society, Following 6 Straight Months Of Full Time Job Declines
Moody's Warns There Is Increased Likelihood Of Negative Outlook To US AAA Rating In Next 2 Years
The downgrade should have come a long time ago. -- RF
Sleepless `Vigilantes' Drive Up U.S. Treasury Yields, MIT's Johnson Says
Regulators exist to 'serve the banks,' next House finance chairman declares

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