Sunday, January 09, 2011


News Links, January 9-10, 2011

-- Global economic meltdown --
China as factory floor: The end of an era (Forbes; very interesting)
Developing Nations Fight Inflation
Germany and France want Portugal to accept aid: report
'Time's A-wasting' For US Deficit Cuts: IMF Official
European Sovereign Debt: Crisis That Isn't Going Away
Economists at Convention See US Decline, China Rise
Reserves Set for $2.8 Trillion to Spur `Intense Tightening': China Credit
Germany's Refusal to Boost $966 Billion Euro Rescue Fund May Be Weakening
Saudi Arabia Prepares for Gold Rush with World's Largest Gold Factory
A Global Album Of Sovereign Insolvency
Gov't aims to teach young students importance of holding down jobs (Japan)
Preparing Japanese children for an even grimmer future. -- RF
Over 30,000 suicides in Japan in 2010 for 13th-straight year
The Tyranny of Entitlement (On the insanity of infinite growth)

-- Fault lines/flashpoints/military --
Did the US invade Iraq to contain China?
Al-Sadr calls on Iraqis 'to resist'
Back in Iraq, militant cleric Sadr tells followers to shun violence
Iraq: cleric warns Maliki of walkout if US troops stay
China Is Loving America's Stealth Jet Freakout
US defense chief to face increasingly aggressive China during Beijing trip
U.S. will respond to Chinese military advances: Gates
15 headless bodies in Acapulco is new Mexico violence record
Nine killed in Tunisia riots
U.S. to offer Pakistan more aid
"Red shirts" activists march in Thai capital
Unemployed Saudi teachers stage rare Riyadh protest
It takes a lot of energy to create jobs. -- RF
Hugo Chavez in Trouble as Russia and China Begin to Look Elsewhere for Energy Security
One big mistake Chavez made was not reinvesting enough money from oil proceeds back into his country's oil industry. -- RF
China's Support for Kim Jong Il Drives Japan, South Korea to Bolster Ties

-- Energy/resources --
Alaska pipeline shut down after leak discovered
"Alyeska has been automating and centralizing operations, part of its plan for coping with reduced throughput and dramatically increased cost per barrel shipped."
Alaska pipeline offline indefinitely
Crude Oil To Bust Through $93 a Barrel on Supply Concerns
Oil Price Could Reach $110 in Next Few Weeks: Official
Japan, Saudi Arabia Discuss Water Business
Venezuelan oil exports to the US drop by 40 percent in a week
OPEC digs in on oil price as it enters 'danger zone'
"OPEC's Secretary General, Abdallah El-Badri... has stressed that if prices reach $100 per barrel due to speculation, OPEC will not move: any changes in output must be based on the fundamentals of supply and demand."
Great! Price rises can just be blamed on speculators to avoid exposing OPEC's dwindling spare capacity. -- RF
Japan firms eye mega LNG project / Mitsubishi, Mitsui investment in huge Russian gas fields could be risky
4 major coal exporters granted less export quotas in China

-- Got food? --
Algeria announces food price cuts to quell riots
India Finance Minister Seeks Help From Provinces To Control Rising Food Prices
German dioxin scare spreads to meat
Dioxin alert closes nearly 5,000 German farms
Saudi Arabia needs more facilities to store food as prices rise

-- Environment/health --
Birds in trouble? Yes ... here's why

-- Intelligence/security/internet --
U.S. orders Twitter to hand over WikiLeaks records
In WikiLeaks fight, U.S. journalists take the Fifth
White House Calls for Internet Identity Ecosystem to Protect Online Users
Obama Eyeing Internet ID for Americans

-- China --
Big push to unlock affordable housing
Ministry to protect arable land
They can try. But the need for "growth" will persuade politicians to keep destroying it while telling everyone that food imports will make up for the shortfall. -- RF
China Finance Ministry to Boost Lending to Agriculture to Fight Inflation
Boosting lending to agriculture might temporarily raise yields (by using more oil), but just increases the debt level, and China has already trashed too much farmland. Food shortages are a matter of time. Perhaps you are wondering what a Chinese food riot looks like. -- RF
China Land Sales up 70% in 2010
Beijing car plate applications hit 215,425 in Jan
Snow, icy rain to continue in South China
China has some major issues coming

-- UK --
Small firms demand PM introduces a fuel duty stabiliser
Royal Family granted new right of secrecy

-- US --
More young people are winding up in nursing homes
Arizona's Giffords critically wounded in shooting; 6 dead
'Vitriol' in politics cited in deadly Arizona shooting
Florida bank is first to fail in 2011
Ford Unveils New All-Electric Focus
Yawn... Energy decline will kill the electric car as surely as it will kill the ICE car. -- RF
Checking account fees tested by Bank of America
Retailers Created Profits by Shaving Inventories: Deloitte Study
Bond Buyers' Eyes Are on Illinois
Illinois Lawmakers Propose 75 Percent Income Tax Hike
Foreclosure Ghost Towns Likely?
A National Debt That Will Never Be Repaid
The United States Of Organized Financial Crime - "If the Fraud Stops, The Financial System Collapses"
The true US GDP is 30% lower than official figures

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