Wednesday, December 29, 2010


News Links, December 30, 2010

-- Global economic meltdown --
Tunisian president says job riots 'not acceptable'
Population Changes Accelerate Global Economic Shift Toward Asia
WSJ has become the biggest Silver advocate
"From local coin shops to online wholesale vendors, silver buyers across the US and around the globe are buying silver as a new currency, not as some speculative investment."
Early anti-euro voice has not flinched, says euro will fail
The Perils Of Ignoring Inflation
A short and sweet roundup of how inflation could have shattering impacts. -- RF
Italy's debt costs approach red zone
German Inflation Unexpectedly Accelerates to Reach Highest Rate Since 2008
Stoneleigh and Max Keiser on Canadian Housing Bubble: "Expect Enormous Comeuppance, Tremendous Sense of Denial, Ireland-Like Dynamics, 90% Price Drops
Japan's Perpetual Motion Debt Machine
Space info center in Tokyo closes due to gov't spending cuts
Lull before the storm: What's coming in 2011

-- Fault lines/flashpoints/military --
India, Russia sign $30B mega defense deal
Commander: US Can't Seal Afghan-Pakistan Border
Drug gang 'threatens Guatemala war'
Angry passengers "involved" in fights at Moscow's airport
Passenger Outrage Rises as Winter Storm Snarls U.S. Air Travel
These two articles are a preview of the widespread and serious unrest we'll see as the world economy and services continue to deteriorate. -- RF
Armored car sales jump as drug war batters Mexico
Tunisia struggles to end protests
South Korea says it will prepare for unification with North
China's Anti-Aircraft Carrier Missile 'Closer to Completion'

-- Energy/resources --
OPEC Not Likely to Stand in the Way of $100 Oil
Oil Poised to Rally Past $97 on Bullish Flag Breakout: Technical Analysis
Oil Juggernaut Unleashed
"The illusion underlying the OPEC statements, however, is that the current price rise is completely under their control."
China's rare earths export cut raises trade concerns
Rare Earths Rally On Chinese Quota Cut
Oil Industry's Spending to Rise in Hunt for Energy
"The global oil industry, far from chastened by the catastrophic spill in the U.S. Gulf of Mexico, is planning record spending next year, including a large amount for deep-water development."
Renewable and fossil electricity generation costs compared
The really important take-home message here is implicit. Fossil fuel energy is cheaper than renewable energy... but the former is already too expensive to kick-start the global economy and allow individuals and governments to pay off their debts. Get it? -- RF
Must read: Has innovation hit a brick wall?
Here we can clearly see two features of industrial civilization's decay. First, complexity is peaking. Second, because energy is the driver of technological advance (not the other way around!), energy decline is making it progressively harder to develop new technologies. Even if we invest more money in R&D, each currency unit is mobilizing a smaller and smaller amount of energy. -- RF
Power, gas outages return (Pakistan)
Saudi Electricity's Clients to Increase to 7.9 Million by the End of 2016

-- Got food? --
India Boosts Subsidies to Cool Food Prices
India releases 5mn tons of grains to PDS
It's either cheap food or food riots. Governments know what they must do, and they're quickly approaching the make-or-break point. -- RF
Salmonella Pops Up In Sprouts, Cilantro And Parsley (US)

-- Environment/health --
Australian Downpour Spreads South, Cuts Off Towns
Rising rivers prompt evacuations in Australia
Strip Mining Sites Rarely Redeveloped, Despite Supporters' Claims

-- Intelligence/security/internet --
Osama bin Laden is dead
But the author's got it wrong on who has the biggest interest in keeping UBL "alive." -- RF
Next On Cyber Command's Agenda: Working With Private Sector
Web attack takes Anonymous activists offline
In the middle of Europe, a democracy introduces press censorship
Obscene, threatening comments posted at anti-TSA website traced to Homeland Security servers

-- China --
China's Real-Estate Frenzy
"Rising property prices and a torrid pace of lending are signals of an inflationary bubble."
China to continue property tightening in 2011: report
China auto shares mixed as tax-incentive expiry looms
Shenzhen gridlocked with highest traffic density
China Buys Majority Stake in Israeli Agrichemical Company
"China is the world's largest consumer of food, and it is importing larger quantities all the time."
China hopes to double value of yuan to dollar over 10 years
China May Need More Affordable Homes Than Targeted, ISI Says
China Says Booming Economy Fueling Military Might
Outlook for 2011 China Car Sales Dims
Students say high-speed rails too costly
Disasters challenge China's water supplies

-- UK --
Jobless total 'will reach 2.7 million'
Britons to spend first five months paying tax
Police demand new powers to stop and search terror suspects
Water rationed in Northern Ireland as engineers battle leaks
Northen Ireland water shortage hits thousands of households
Law change call after 'dramatic' rise in dangerous dogs
Flu cases 'up 50% in past week'

-- US --
FDIC: 2010 Worst Year For Bank Failures Since 1992
Ambulance fees increasing across USA
Blessings of an Amish Christmas
iPad could replace documents in Florida city
Increasing dependence on electronic documents will backfire when the power goes out. -- RF
Housing Setting New Lows in 10 Markets That Received Government Boost
More States Seeking to Follow Arizona's Push for Tougher Immigration Rules
Native American group sues to block California's big solar projects
Sign of the times? Los Angeles Events: Depression-Era Double Features
Support builds in fight to dim light pollution
Streetlights going out will solve the problem. -- RF
U.S. foreclosures jumped in the third quarter
Another Bank of America Horror Story?
Baby Boomers Fear Outliving Medicare: Poll
Fed Can't Prop Up Stock Market Forever
Pension "Armageddon" in Pittsburgh; State Threatens Takeover of City Pension Plan
Student debt crisis threatens US economy
The Wealthy Drove Holiday Spending

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