Thursday, December 23, 2010


News Links, December 24, 2010

-- Global economic meltdown --
Vietnamese Seek Safety In Gold As Currency Wobbles
Vietnam Credit Rating Cut One Rank by S&P on Risks to Nation's Bank System
Vietnam has been largely off the radar, but economic problems are now becoming more apparent (cf. this story from yesterday). Vietnam also suffers from a chronic power shortage. -- RF
Has The Financial Collapse Of Europe Now Become Inevitable?
China launches new commercial debt product
China says willing to help euro zone return to economic health
China Money-Market Rate Rises to 3-Year High on Cash Shortage
China's Rising Cost of Living
Some foods cost more in China than in the US. There has got to be a lot of dissatisfaction. -- RF
China Is Waking Up to an Inflation Nightmare
Beijing's booming car ownership creates traffic nightmare
Beijing's traffic woes drive talk of relocating capital
EU Badly Needs Beijing Bond Backing
How riots can influence an economy
India and Currency Wars
Greek Parliament Passes 2011 Austerity Budget
Greek unions vow to step up protests over stringent austerity measures
Despite Greece's 2011 austerity budget, a financial chill deepens in Europe
Now is the winter of our discontent, baby! -- RF
2011: The Year of the Commodity Boom and Equity Collapse?
Hong Kong Yuan Deposits Hit $42 Billion
Flaherty Says Canada's 2011 Budget Will Have Additional Stimulus Measures
Bloomberg Sues ECB, Seeks Disclosure Of Secret Greek Swap Documents
Baltic Dry Index Drops Another 1.9%, Hits 1,795
Dubai May Sell More Assets as $20 Billion in Debt Comes Due in Next Year

-- Fault lines/flashpoints/military --
Summit lets Turkey flex its diplomatic muscles
Russia: Unstable Economy and Political Crisis
Parcel bombs hit embassies in Rome
Rome explosions at embassies linked to Italian anarchists
"Italy's Interior Minister Roberto Maroni told the news agencies that the attacks in Rome 'bear many similarities with the episodes that took place in November in Greece, which lead us to think the international track is the right one.'"
India police hunt men said to plan Mumbai attack
China speeds plans to launch aircraft carrier: sources
China Matches U.S. Space Launches for First Time
Man fined for insulting French flag -- first penalty under new decree
Venezuela Security Forces Break Student Protest

-- Energy/resources --
World Oil Production - Looking for Clues as to What may be Ahead
EIA's forecast is an energy fantasy land (Jeff Rubin)
Oil Might Near $150 a Barrel by Summer: Gulf CEO
Arab OPEC ministers to meet as oil price tops $90
Asian buyers still knocking on UK oil firms' doors
EU Exec Plans More Action On Unsustainable Biofuel
Anything on a large scale meant to prop up industrial civilization is unsustainable. -- RF
Latin America Fuel Theft Serious Problem
Asia's Exploding Economic Growth Churns Australia's Coal Industry
China Roots Spread in Latin America with New Deals
Chinese oil consumption jumps by 15pct as winter comes
New solar fuel machine 'mimics plant life'
Sounds great! But where will we get the energy to make the machines? -- RF
Smart money is long gold, silver, copper, oil and zero coupon treasuries (Forbes)
Trader Holds $3 Billion of Copper in London
Giant oil pipeline in the works from Alberta to the Gulf

-- Got food? --
China's ability to feed its people questioned by UN expert
African Farmers Displaced as Investors Move In
These farmland grabs will not come to a good end. Get ready for 21st-century "peasant uprisings." -- RF

-- Environment/health --
Flu kills 27 in Britain, spreading in Europe

-- Intelligence/security/internet --
Printing Ultra-Thin Circuits Into Banknotes Could Give Electronic Security to Paper Currency
What will give real security to paper money is to back it with gold. -- RF
Skype brings 10 million users back online, but millions more still without call service
As Internet 'hypergiants' proliferate, attacks on human rights increasingly common: study

-- UK --
Homeowners warned as heating oil thefts rise
Christmas jobs misery for public sector workers

-- US --
Delta, American May Have to Raise Fares as Oil Climbs Toward $100 a Barrel
Behind Census Figures Showing Boom in Nevada, a Story of Bust
293 Chicago area bridges 'structurally deficient'
Fed could have saved many smaller banks from collapse
Shadow Wars Get Big Bucks in Last-Minute Defense Bill
Some investors fear collapse of municipal bonds across nation
Invest In The USA? Why Bother?
"Always on the alert for new 'consumers' to sell stuff to, multinational corporations are no longer willing to invest in this dry husk called the United States of America."
Consumer Spending Back To Normal? Not So Fast
Gas pump prices rise above $3 national average
Budget pressures have led to slashed education programs and rising tuition at state universities
Alabama Town's Failed Pension Is a Warning
New Jersey: Mobile Police Guard Towers
Rep. Paul Pushes Fed To Be More Transparent
Money supply triple from here?
After Nearly Two Years Of Searching, TrimTabs Still Can't Figure Out Who Is Buying Stocks
Wealth gap widens

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