Friday, December 31, 2010


News Links, January 1, 2011

-- Global economic meltdown --
China may buy debt of Hungary
'We Must Strengthen the Euro': Germany's Merkel
"Bundesbank figures from this month show Germans continue to hoard old notes and coins worth some 6.9 billion euros ($9.1 billion), even though they can be exchanged at no cost in any of the central bank's 47 branches across the country."
Chinese Yuan at New High, More Strength Seen
Euro has 1-in-5 chance of lasting decade: UK think-tank
To help the poor, get rid of their cash, but...
India's Poor Reel Under Microfinance Debt Burden
European Sovereign Debt Crisis in Pictures; PIIGS Spreads to Germany at or Near Record Levels
The Shadow Banking System: A Third Of All The Wealth In The World Is Held In Offshore Banks
Canadians Spend Like Crazy Americans

-- Fault lines/flashpoints/military --
Protests intensify in Bolivia over gasoline prices
Photo: Demonstrators in La Paz burn toll booth
The 16 brewing conflicts to watch for in 2011 (Foreign Policy)
Ivory Coast looks like the place for first crisis of 2011
Turkey Flexes Economic, Political Muscle In Iraq
Russian police detain 130 in anti-government protests
France braces for annual New Year's car torchings by disaffected youth
U.S. Navy signs contract for 20 Littoral ships
Greek Burdens Multiply With Illegal Immigrants Finding Back Door to Europe

-- Energy/resources --
Copper Rises to Record on Speculation Supply Shortage Will Become Worse
Russia Starts Oil Pipeline to China as Putin Attempts to Diversify Exports
11 hours power cut daily in Nepal
UAE: Power shortages set to create sparks in FNC
Buenos Aires: Blackouts, petrol shortage and cash woes as New Year's approaches
Australia: We're paying more to be left in the dark
"One million minutes were lost to blackouts last financial year because of equipment failures in the state's decaying and ageing power network."
China pledges more support for Uganda's oil and infrastructure
Canada LNG terminal to change Asian energy landscape
Time running out for India to solve Iran oil fee issue
"India's millions of oil consumers are concerned as the country could face another fuel crisis as Iran said it will not sell oil to India, unless payments for such sales are guaranteed by the Reserve Bank of India."

-- Got food? --
OJ prices to squeeze your wallet
Florida agriculture loses at least $273M in December freeze; corn, bean prices skyrocketing
SKorea: Fresh food prices grow fastest in 16 years
India's food price inflation hits a 10-week high of 14.44 per cent
Commodity price surge sets stage for global food crisis in new year
Corn heads for biggest annual gain in 4 years

-- Environment/health --
Australia Floods to Worsen in East As Cyclone Looms in West
Why do we need to recontrol whooping cough?
Japan's Population Drop Hits 100,000 For 1st Time
Although population decline is anathema to politicians and economists, it is the best thing that can happen to a country at this time. -- RF

-- Intelligence/security/internet --
Report: Cyber-Spies to Wage Non-Stop Assaults on Defense Firms in 2011

-- China --
Chinese power plants stage brownouts as inventories run down
"Already down to mere days of thermal-coal inventory, a manager at a power plant in Anhui Province has been left completely empty-handed without a single thermal-coal contract for 2011."
Inflation puts brakes on manufacturing growth
Reservoirs dry up as drought parches E China
China orders land hoarding freeze as prices rise
Hu Jintao Visits Poor Beijing Families, Vows to Narrow China's Wealth Gap
China to Stop Subsidies to Vehicle Buyers in Rural Areas Starting Jan. 1
New Year's Eve - China's Worried about Food, Energy, and Its Inflation
The note at the bottom in italics is most interesting. -- RF
China Expands Program for Exporters' Earnings
China Extends Subsidies for Energy-Efficient Cars

-- UK --
Public sector job cut notices to arrive 'like confetti' after New Year
Flu outbreak piles pressure on 'critical care' units
Official! December coldest for 120 years

-- US --
Budget woes force state parks to delay maintenance
Buckle your seatbelts. Airfare hikes ahead!
LMAO: US Government Fails Audit--GAO Can't Render Opinion On Bogus US Financial Statements
US gas prices pass $3 mark. Will anything stop them from climbing higher?
"The recent rise in gas prices, analysts say, is largely due to decreased production both in the United States and abroad."
Duh! -- RF
Price of oil rises 30 percent in 2010; gasoline prices could hit $4 a gallon in 2011
Montague grand jury indicts 10 in oil thefts
Economic slump means more crime on farms
Think Housing Is in Recovery? Think Again
Career Shift Often Means Drop in Living Standards
Ground beef recall: 34,000 pounds of contaminated beef in six states
Pension Crisis to Take Center Stage in '11: Paterson
Retirement account fantasy and middle class erosion – 1 out of 3 Americans has zero dollars in a retirement account
Chicago's Daley Says Pension-Overhaul Law Will Bring Record Tax Increase
2011: A Brave New Dystopia
"Free Rent" for Young Adults: A Sign of the Economic Times
Credit Default Swaps PIIGS vs CINN Group (California, Illinois, New York, New Jersey)

And finally... Super Grandma to the Rescue

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