Thursday, January 27, 2011


News Links, January 28, 2011

-- Global economic meltdown --
Belgium Faces Wrath of Markets as Its Deadlock Deepens
Some Europe Banks Will Need Bailouts: Rogoff
China Will Face Crisis Within 5 Years, 45% of Investors Say
S&P Cuts Japan Rating As Budget Woes Linger
Moody's warns of possible move on U.S. credit rating
Never Has U.S. Borrowed So Much for So Little: Chart of the Day
"'The fiscal problem is very serious,' Roubini said yesterday. 'The bond vigilantes have not yet woken up in the U.S. in the way they have in the euro zone. Unless the U.S. addresses this fiscal problem, we're going to see a train wreck.'"
25 percent of shoplifters arrested in 2010 were elderly people (Japan)
"While young shoplifters tend to steal items like books, CDs and DVDs with the aim of cashing in on them, many of the elderly shoplift food items, clothes and cosmetic products for their own use due to financial hardships."
Localization: The Film!
What Is A Gold Standard? (Forbes)
"When the goal is stable money values, it is the preferred tool."
Commodities Will 'Make A Fortune': Jim Rogers
The Truth About Davos: It's About Making Money Not Solving the World's Problems
Davos 2011: Nicolas Sarkozy 'will not let euro fail'
Davos Divines `Shared Norms' as Reality Turns Grim on Sarkozy's Influence
"The global elite is failing to find the 'shared norms in the new reality' preached by the World Economic Forum as lopsided growth and income inequalities split the international economy."
Euro's death would be 'cataclysmic'
When will the Commodities and Chinese Real Estate Bubbles Pop?
Quantitative Uneasing: How Fed Policy Ties Into Revolts in Tunisia and Egypt
Baltic Dry Index 187 Away From Triple Digits

-- Fault lines/flashpoints/military --
ElBaradei Set to Join Egypt Protests
Egyptian Stock Market Plunges Over 11% To Fresh Multi-Year Lows; Is A Suez Canal Transit Halt Imminent?
Yemen protests: Thousands call on president to leave
North African Unrest May Spread as Davos Warns on Food Prices
"This protest won't end in north Africa; it will spread in many countries because of high unemployment and increasing food prices."
6,000 Japanese, U.S. troops hold major war games in Kyushu
China patrol ship near Senkaku Islands
Is China taking over the globalization agenda?

-- Energy/resources --
India's huge kerosene black market
The Greatest Threat to Green Energy
On the surprising amounts of rare earth elements needed for hi tech. -- RF
Uranium prices boom, time to invest
Hole-y cow! Guts could lead to holy grail for cheap biofuels
Don't get excited. Although biofuels are promising and useful, they won't be able to prop up industrial civilization. -- RF
Extreme Offshore: The Hunt for Hard to Find Crude
"Brazil's quest for extreme oil may cost as much as US$ 1 trillion. That is a lot of money to invest in a such a risky proposition -- to retrieve oil that is miles deep underwater."
A record WTI-Brent spread, a new paradigm
Oil price gap highlights risks for oilsands: Report
Saudi has no plans to give up right to enrich uranium
The peak oil crisis: British proposal for Tradable Energy Quotas (Tom Whipple)
"The alternative to this, or some sort of allocation scheme, is energy anarchy. As we saw during the energy embargoes 40 years ago, it does not take much of a shortage to throw a motorized nation into turmoil and the economy into a tailspin."

-- Got food? --
Bulls Eat, Bears Eat, and Pigs Go Limit Up!
Grain, Soybeans Rise as Food Riots Spur Demand for U.S. Exports
India Food Prices Stay High
Potash Corp.'s Fourth Quarter Profit More Than Doubles

-- Environment/health --
Study finds oil dispersants lingered deep under Gulf
Russia to build lunar base by 2037
Won't happen. -- RF

-- Intelligence/security/internet/systemic breakdown --
Russia Says Stuxnet Could Have Caused New Chernobyl
Utah Army base locked to solve 'serious concern'
Virginians Experience Massive Verizon Wireless Outage

-- China --
Measures to tame property market
China to Renew Bid to Curb Steel Industry's Sprawl
China to create largest mega city in the world with 42 million people
Absolute madness. Under energy decline it will turn into a giant hell-hole. -- RF

-- UK --
Education bill gives teachers right to search pupils for forbidden items such as phones or pornography
Transport projects cost £226m above estimates - audit
Forest sale plans anger campaigners
Dire state of care homes for the elderly is only going to get worse, says top inspector
Debt fears over rise in student loan interest rates

-- US --
Fed Assets Increase to $2.45 Trillion on Treasury Purchases
John Boehner To Kathleen Parker: 'We're Broke'
M2 Surges By Biggest Weekly Amount Since 2008 As It Hits Fresh All Time Record
Kansas turns 150, and doesn't have money to celebrate
As deficits, debt soar, Obama, Congress fail to confront them
CBO: Social Security Will Run Permanent Deficits
Only 35% of Americans Have Emergency Savings
Bernanke: All But One Major Firm Was At Risk In 2008
N.Y. Gov. Threatens To Mothball More Prisons
Foreclosures spread into previously safe areas
A Report on Price Inflation from the Front Lines (Daily Reckoning)
Another Nail in the Market's Coffin
Rep. Ron Paul mulls Senate bid
Moody's to Factor Pension Gaps in States' Ratings
State pension + debt = big numbers
Residential real estate: If It's "A Buyer's Market," Why Is No One Buying?
Mother Nature's Economic Punch: snow removal costs are burying local gov't budgets

And finally... Self-proclaimed unluckiest man in the world struck by lightning

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