Wednesday, February 09, 2011

 

News Links, February 10, 2011

-- Global economic meltdown --
Amagerbanken Senior Bondholders to Suffer Losses
"Amagerbanken A/S, the insolvent Danish lender seized by the government, is the first European bank to be rescued under new regulations designed to ensure senior bondholders suffer losses in a bailout."
Government must force losses on bondholders, stockbroker claims (Ireland)
Moody's Says Debt Restructuring Risk Has Risen on Euro Periphery
Egypt's Warning: Are You Listening? (Chris Martenson)
Japan's debt, fiscal deficit not sustainable: IMF
Deutsche Boerse in Advanced Talks to Purchase NYSE Euronext
Crumbling 'BRICs'? Emerging Market Outperformance Is "Done," Schatz Says
Audi Buyers Wait Months as Factories Struggle to Keep Up With Orders
America's out-of-control spending problem
Dollar Collapse Will Bring Down U.S. Empire (Daily Paul)
$20-Trillion War Costs Bankrupting US (Daily Bell)
This bounces off Paul Farrell's "Secret China War Plan," posted yesterday. -- RF
Portuguese 10 Year Bond Yield Hit Fresh Lifetime Highs
Gold at EUR1,000/oz - Strong Physical Demand Leading To Illiquid Conditions

-- Egypt --
Labour unions boost Egypt protests
"Thousands of factory workers stay away from work as pro-democracy protesters continue to rally seeking Mubarak's ouster."
Egypt regime warns of crackdown as revolt spreads
Egypt VP condemns calls for president's departure
Egypt nears military coup. US warships in Suez Canal – Debka
Ten Possible Strategic Ramifications of the Current Egyptian Unrest
U.S. Joins Egyptian Protesters in Criticizing Suleiman's Offers
Egyptian satellite restores Jazeera transmissions

-- Fault lines/flashpoints/military --
Commander: U.S. Special Ops Forces Are Stressed
North and South Korea military talks 'break down'
New US military strategy looks beyond Afghan war
Asia and cyberattacks headline list of growing threats to US, military says
Suez: Choke hold on world shipping
US threatens to cut aid to Pakistan
Tunisian leader asks restive people to be patient
Drug war spreads to Mexico's second city, Guadalajara
Yemen tries to woo opposition after concessions
Pirates hijack U.S.-bound oil tanker off Oman
Russia to deploy more arms on Kurils, claimed by Japan
Reports: Jet loaded with millions in gold and cash seized by Congolese authorities linked to Southlake philanthropist

-- Energy/resources --
Brent rises on Egypt, dollar; U.S. oil down on stockpiles
"Brent crude jumped nearly 2 percent to near $102 a barrel on Wednesday as the dollar fell and unrest in Egypt stoked supply worries."
BG raises gas production targets amid reports of 'glut'
"BG, the fast-growing oil and gas exploration company, dismissed predictions of a 'global gas glut' as the group raised its production targets, sending shares to an all time high."
Don't Count on Natural Gas to Solve US Energy Problems
Starting with the fact that the US has a natural gas shortfall and must import, this article presents a very sobering picture of the US natural gas situation. -- RF
Australia blackout
"Pittwater State Liberal MP Rob Stokes said blackouts in the area had become a 'disturbing trend' and needed to be rectified as a matter of priority."
Israel forced to spend more on fuel
New Drilling Method Opens Vast Oil Fields in US
But sorry to say, it is too little and too late to stave off peak oil. -- RF
Shell, BP to Close, Sell Oil Refineries in Europe, U.S.
Coal prices to accelerate on production shortfall (India)

-- Got food? --
Paris Wheat Surging Above Chicago's on Africa: Freight Markets
Indonesia to boost rice stocks, highlights global food fears
Cities create 'food czars': Can they get residents to eat their sprouts? (US)
Higher food prices ahead after corn reserves become latest commodity to hit historical low

-- Environment/health --
New York's bed bug problem spreading to London
Bedbugs on the increase in N.Y. schools

-- Intelligence/security/internet/systemic breakdown --
Can Al-Jazeera Topple Governments?
Why do states break down?
US Postal Service warns of default as losses mount

-- China --
China prepares for 'severe, long-lasting drought'
China wheat situation
China Is Orchestrating A 30% Crash In The Property Market
China Developers Move Beyond Shanghai, Beijing, Defy Curbs
Pump up that bubble! -- RF

-- UK --
Four fifths of soldiers 'considering quitting over cuts'

-- US --
New shingles vaccine in short supply
Negative Home Equity Surges, Weighing on Housing Recovery
"The number of borrowers who owe more on their mortgages than their homes are worth took a huge leap in the fourth quarter of 2010. A full 27 percent of borrowers are now "underwater" on their mortgages, up from 23 percent in the previous quarter."
Montana Bill Would Create Armed State Militia Force
O'Hare International Airport experiences power outage
White House to Cut Energy Assistance for the Poor
"The Low Income Home Energy Assistance Program, or LIHEAP, would see funding drop by about $3 billion from an authorized 2009 total of $5.1 billion."
Rate for 30 year fixed rate mortgage explodes
Foreclosure Inventories are 7.8 Times above Normal and Rising
From FDR To IOU: Social Security Hits Tipping Point
In Some Ways, Terrorist Threat Is Highest Since 9/11, Napolitano Says (Boo!)
S&P downgrades N.J. credit rating
S&P: We Do Not Believe States Face a Muni Debt Crisis
The people at S&P are talking through their hats. Energy decline means there can be no sustained economic "recovery," and that in turn means debt cannot be paid off. Since one has to either pay debt off or default, that leaves the latter. -- RF
Stocks Fall on Inflation Concern; Treasuries, Wheat, Corn Gain
QE3 Coming? This Is Not a "Normal Recovery," Fund Manager Sees
Wealth of black families has disappeared — Progress of a whole generation is just gone




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