Friday, December 24, 2010


News Links, December 25, 2010

-- Global economic meltdown --
Vietnam's Inflation Rate Climbed to a 22-Month High in December of 11.75%
China Trade Minister Sees 'Chronic' Euro Debt Problem
Dry Bulk Shippers Raising Cash to Diversify
Japan homeless getting younger and younger
FY11 JGB Issuance To Hit Record Y169tln
Japan Approves Budget Proposal
"Debt-servicing costs and social security payments—which are generally seen as unlikely to drive economic growth—account for roughly 55% of the total expenditure."
It's a grim situation from which there is no hope of escape. Japan's default, which is virtually assured, will send a devastating economic tsunami around the world. -- RF
As Germany Ends Draft, Fears Of A Labor Shortage
Euro zone addicted to 'financial heroin,' BMO warns

-- Fault lines/flashpoints/military --
U.S. defends permits for deals in sanctioned nations, including Iran (gasp!)
Pentagon Put on the Spot over Manas Fuel Supply Deception
Russia buys warships from French
Pakistan checkpoints attacked by 150 militants
Medvedev reiterates Russia's claim to 4 disputed islands

-- Energy/resources --
Oil Consumers Wary as Some OPEC Members Target $100 Before Cairo Meeting
No output signal from OPEC as oil heads to $100
Oil Prices Will Reach $100 a Barrel, Libya's National Oil Chairman Says
OPEC to Cut Crude Oil Exports First Time Since October, Oil Movements Says
China and India's Growing Energy Rivalry
Paris Charles de Gaulle Cuts Flights 50% on Antifreeze Shortage
End the Ethanol Insanity
Shell Pushes Forward To Drill Well In Arctic
Kuwait: 32% increase in oil exports to China

-- Got food? --
Sugar May Reach 40 Cents as Weather Hurts Global Crops, Thai Miller Says
Mexico buys corn futures to ensure tortilla prices remain flat
Russia basic food cost rises sharply in 2010

-- Environment/health --
Uncertain future for Hungary sludge victims
Hong Kong's 2010 Pollution Level Is Worst on Record

-- Intelligence/security/internet --
US Homeland Security is alerting airlines to be on the lookout for a potential new "terror tactic" involving thermoses.

-- China --
China-Africa trade hits record high
China lends Bolivia $251m to fund satellite
China worried about higher reliance on imported oil
Frustration Builds Over High Food Prices In China
China tries to keep farm prices down
China Fails to Complete 91-Day Treasury Bill Sale, Traders Say
China Central Bank absorbing substantial amounts of gold without disrupting market
China's 2011 money supply back to normal level

-- UK --
The Year in Review: Austerity
Oil Rises in London as Snowstorm Returns, Inflation Spurs Commodity Demand
Scotland set for sub-zero Christmas
Intensive care flu cases double in a week

-- US --
Unfunded N.J. pension liability grows to $53.9B
Midwest farmland prices soar due to strong prices
Nearly 25 percent of US army applicants fail entrance exams
The JP Morgue Whistleblowers Are Back
Econ-101 with Dr. Ron Paul
The census-social security connection
ACLU calls anti-terrorism agency map placement 'disturbing'

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