Thursday, February 24, 2011


News Links, February 25, 2011

-- Global economic meltdown --
Surging Prices From Singapore to Vietnam Herald Higher Rates, Currencies
Vietnam Raises Fuel Prices
"Vietnam's government raised prices of gasoline and other fuel products by as much as 24%, an industry official said, likely complicating the task of taming what may be Asia's most difficult inflationary problem."
Oil Spike Clouding the Sky for Latin Airlines
FMX Connect Sees Gold Hitting $1,550 Within 8 Weeks
The True Cost of High Oil
Economic growth stagnates, debt can't be repaid, collapse ensues. -- RF
Middle East Mirrors Great Inflation Revolutions Since 1200 AD (CNBC)
"Inflation has led to political revolutions since Medieval times and we may be witnessing the fifth such great revolution in history unfolding in the Middle East and in our own country right now... During the past four price revolutions, food and fuel led the upward movement in prices, followed by manufactured goods and services... The relevance of the history of previous inflation waves to the present situation is downright eerie."
Banks warn of oil shortage, growth impact
Moody's Could Review US Ratings Over Debt Impasse
S&P To Withdraw All US Rating On May 24, Convert Everything To "Unsolicited"
Portugal likely to see further ratings cut by June
Market Falling Because of Math, Not Middle East
Public debt: unsustainable and simply unpayable
Deflation still rules Japan: Jan Core CPI Falls 0.2% On Year

-- Libya --
Germany sending three warships to Libya: ministry
Gaddafi blames uprising on al-Qaeda
He has learned well from the US. -- RF
Tanks, mercenaries, militia patrol Tripoli
Libya: Italy fears 300,000 refugees
NATO has no plans to intervene in Libya - NATO chief
Report: NATO might send aircraft to Libya (Jerusalem Post)
Official: U.S. military options for Libya being planned (CNN)
Among rumors that Gaddafi has been shot, Swiss freeze his assets
US Cannot Confirm Rumors Gaddafi Shot; Oil Tumbles
Gaddafi's Private Plane, Reportedly Loaded With Gold, Ready To Leave For Zimbabwe As Early As Tomorrow
BofA Expects Libya Oil Production To Shut Down Completely
Libya stashed billions of dollars in US banks
Opposition forces close in around Libyan capital
'Gaddafi's son joins Libyan protesters'

-- Fault lines/flashpoints/military --
It's Not an Arab Revolution ... It's a GLOBAL Revolution
Disappearing dictatorships - could North Korea follow?
Iran warships dock in Syria, Israeli fears dismissed
Russia to purchase 600 warplanes, 100 ships
Mexico army: U.S. agent's killing was cartel error
Iraqis rally through social media in "day of rage"
High costs could ground aerial reconnaissance activities (Japan)
Mullen: US to continue anti-piracy efforts

-- Energy/resources --
Oil surges nears $120 a barrel on Libya and Middle East fears
Massive blackout hits Macao
A Simple Rule Of Thumb Regarding Oil And How It Impacts The Economy
Australian Mining Boom Still Growing
Nomura $220 call is absurd without Saudi black swan
Why Saudi Arabia can no longer temper oil prices (Jeff Rubin)
Why you really can't swap Libyan oil for Saudi
Saudis hold talks with refiners amid warnings of oil crisis and rationing
"Opec oil producers look at pumping more to European refineries as Libyan rebels claim to have seized oilfields and terminals."
CHART: See Where Libya's Oil Exports Are Headed
Asia expected to burn 2/3 of global LNG in 2015 -Credit Suisse
China Pays 13% More for January LNG Imports, Customs Data Show

-- Got food? --
Charities warn of food shortages in North Korea
"Officials from five aid agencies who have just returned from a trip to North Korea say they saw evidence of looming food shortages and alarming malnutrition, including people picking wild grasses to eat."
Indian trade unions rally over food prices
Rising alarm over global scarcities
Data Diving and the Federal Reserve: The Politics of Food and Energy Inflation (Gregor Macdonald)
"The unwavering position here at however is that while global monetary policy can amplify price moves in many commodities, when it comes to oil—the master commodity—flat to declining global oil production over the past five years is the most important factor in price."
Iraq rushes to address food-security problems as price of flour trebles
Bill Clinton: Too much ethanol could lead to food riots
Duh! -- RF
South Korean farmers assess fallout of major outbreak of foot and mouth disease
China May Become World's Top Corn Buyer, Grains Council Says
Saudi Arabia tenders for 275,000 T wheat

-- Environment/health --
Dirty air triggers more heart attacks than cocaine
Humans stink more than other animals

-- Intelligence/security/internet/systemic breakdown --
Another Runaway General: Army Deploys Psy-Ops on U.S. Senators
Middle East turmoil forces shippers to address supply chain vulnerabilities
CHART OF THE DAY: The Government Money That Built The Internet Is Going Away

-- China --
Chinese official dismisses "Jasmine" protest calls
Chinese play with words to get around Great Firewall
As protests spread across the Middle East, China keeps a firm hand on protests at home
New wind and solar sectors won't solve China's water scarcity

-- UK --
Farm costs now rising faster than inflation
Record number of young people not in education, work or training

-- US --
Thursday Look Ahead: Stock Market's Bull Is Hostage to Oil Prices
Liquidations Coming: Hedge Fund Margin Debt Surges
Internet outage hits General Assembly (Virginia)
Immigration fight: Bill to end 'birthright citizenship' advances in Arizona
Emanuel faces big money woes as next Chicago mayor
"Not since the Great Depression have the finances of the city been this precarious."
New Home Sales Plummet 13% To 284,000 Annualized Rate, 19K Actual Homes Sold Lowest Monthly Ever
Brown Says California Faces $25 Billion Cut Without Vote
FTMDaily News Update – Oil Price Shock + Food Price Shock= End of America's "Recovery"

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