Wednesday, January 05, 2011


News Links, January 6, 2011

-- Global economic meltdown --
Overheating East to falter before the bankrupt West recovers
(Ambrose Evans-Pritchard offers his predictions on the global economy next year.)
Is There Enough Oil to Pay Our Debt? (Jeff Rubin)
The answer is obvious. Governments are incurring more debt with each passing day, even though oil is still below $100/bbl. Buckle yourself up and get ready for the defaults. -- RF
Swiss Central Bank Excludes Irish Bonds as Collateral
Portugal T-bill Yield Seen Doubling in Auction
Jim Rogers: Chinese Renminbi will replace US Dollar
Currency war comes to S. America's key emerging markets
Emerging Nations Influence Commodity Prices, IMF Study Says
Citi Case: A Setback for Foreign Banks in India
Indian Investors Run For The Exits As Central Bank Plans Yet Another Rate Hike
Yen Portion Of Global Foreign Reserves Hits 5-Year High: IMF
New auto sales in 2010 fall below 5 mil units
Rogoff Says Greek Bailout May Not Prevent Default Caused by Budget Stress
Belgian Crisis Deepens as Seven Parties Fail to Restart Government Talks

-- Fault lines/flashpoints/military --
New unrest over unemployment breaks out in Tunisia
Iranian Fuel Blockade Hurting Afghan Civilians
Iran says ready to export defense systems
U.S. foe, Sadr, returns to Iraq after exile
Iraq Government Focusing on Growing Unemployment following US Withdrawal
Clerics salute 'brave' Pakistan killer
Africom Unmasked, Unwanted and Vulnerable
Chinese Missile Could Threaten U.S. Navy Ships
China Shifting Nuclear Rules Of Engagement: Report
India Breaks Ground On Warship Research Center

-- Energy/resources --
Merkel's Nuclear Plan Earns Derision as Clean Power Costs Climb
Rubber Futures Climb to Record on Thai Supply Concerns Amid Strong Demand
Japan Steelmakers to Seek New Coal Sources, Including Africa, After Floods
Japan intensifies search for undersea mineral reserves
Queensland floods push US coal prices higher
Coking Coal Contract Price May Rise 33% on Australian Floods
China Lights, Global Floods, Australian Coal (Gregor Macdonald)
Natural Gas: Continually Running Into New Obstacles
Research group warns of rising oil prices
Fuel Exports From India's West Coast Jump 57% as Reliance Boosts Shipments
"Reliance, which operates two refineries in the western Indian state of Gujarat, faces losses if it sells diesel domestically because government regulations mandate retailing the fuel below cost. "
LNG Demand Increase in Asia Signals Price Rebound in 2011: Energy Markets
Nigerian oil exports set to slip

-- Got food? --
World Food Prices Surge to Record, Passing Levels That Sparked 2008 Riots
And they likely have farther to go this time. As the next article notes, Russia could become a net wheat importer. -- RF
A Perfect Storm is Settling Up for the Grains
Crisis to watch: Egypt's 2011 food prices
Germans told to avoid eggs after dioxin contamination
Investors dig into farmland
Big farmland owners will be the new aristocracy, and the people who work their land will be the new peasantry. Farmland ownership should be limited to those who actually work the land. -- RF
McDonald's Japan sales in 2010 hit record high for 5th year
Peak fertilizer?

-- Environment/health --
Australia floods cause "catastrophic" damage
All those bird and fish deaths (a roundup from around the world)
Update: 40,000 crabs have been found dead on England beaches
Rare Earths Leave Toxic Trail to Toyota Prius, Vestas Turbine

-- Intelligence/security/internet --
Saudi Arabia 'detains' Israeli vulture for spying

-- China --
Yet Another Sign Of How China Is Twisting Itself In Knots To Beat Inflation
Icy rains force 58,000 to evacuate in southern China
"The harsh weather in southern China... has damaged 142,400 hectares of crops."

-- UK --
Potholes 'more noticeable in Wales than in England'
Student protests: key dates for 2011
Parts of UK have flu vaccine shortage, government says
Last December UK's coldest for 100 years
Swelling bankruptcy among pensioners 'a concern'

-- US --
Snowplow Slowdowns Might Become American Way
Study: Ethanol alone can't reach fuel goal
At Banks, New Fees Replacing Old Levies
Municipal Debt Threatens U.S. Economy
How to get your city to allow backyard chickens
I imagine that as collapse proceeds, all resistance to keeping chickens will melt away and laws prohibiting them will either be repealed or just ignored. If enough people decide that eggs and chickens are on the menu, that's all it will take. -- RF
Republicans take over House, soften cuts
Report: Border Patrol shooting in Arizona
Watchdog: IRS tormenting struggling taxpayers
Washington, D.C. full of do-not-enter entrances
US May Lose Top Credit Rating Unless It Cuts Spending: Gross
Department Stores on 'Death Spiral': Hedge Fund Manager
20 facts about America's decaying infrastructure
Big Media Finally On The Case Of The Amazing "Value Deflation" Inflation
More Bad News For States: State Revenue Plunges By 31% In 2009 To $1.1 Trillion As Spending Increases
More evidence that Meredith Whitney is right. -- RF
Shopping Center Vacancies Climb as Unemployment Cuts U.S. Retailer Demand
Study Suggests We've Hit 'Peak Travel'

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