Wednesday, March 02, 2011


News Links, March 3, 2011

## Global economic meltdown ##
Interview With US Economist Eichengreen: 'Europe's Banks Are in Far Greater Danger Than People Realize' (Spiegel)
Backlash over Spain's energy saving
Two Terrible Charts That Should Frighten The Bejesus Out Of Anyone In Ireland
German-Irish brinkmanship raises EMU stakes
Greece, Portugal held on CreditWatch negative: S&P
Producer Prices In Europe Turn Ugly
Brazil lifts key interest rate to 11.75%
Japan considers sharp cut in aid to China with economy overtaken
Largest US hedge fund sees dollar-yuan currency breakup
IATA cuts its airline-profit outlook for 2011
S. Korea's consumer prices jump 4.5 pct in Feb.
Inflation Surges in South Korea
"The data are the latest sign of escalating prices pressures in Asia, where a combination of fast economic growth and rising prices of food and energy have stoked inflation and prompted most central banks in the region to raise interest rates."
Rising oil prices may give ECB another excuse to hike rates
Russia lacks enough carrier rockets to fulfill 2011 launch plans
And the US space shuttle program is nearly over. I predicted about two years ago that in time space development will become economically impossible, and that the ISS will in time turn into an unmanned orbiting hulk. And here we can see the lead-up to that. Future space development will be strictly confined to military purposes. -- RF
A Super Quick And Dirty Overview Of The Saudi Economy
Saudi King's $15 Billion Housing Grant Won't End Shortage
Hong Kong Offers Cash Handouts
Another government tries to buy some time. -- RF
Bentley, Maserati Flaunt Top Models in Geneva on Revived Wealth
Meanwhile, the aristocracy is doing fine, thank you. -- RF
Just how much does a high oil price affect GDP? (Forbes)
But this is the wrong approach. What matters is how high a price consumers and businesses are willing or able to pay. When that threshold is crossed, we'll see the real effect on GDP. -- RF

## Libya ##
US UK, French forces land in Libya
British special forces ready to seize Libyan mustard gas weapons
U.S. assault ships clear Suez, enter Mediterranean
Libya: rebels in desperate battle to hold ground
"Heavily outgunned rebels fought a desperate battle to retain control of vital energy supplies on Wednesday after Col Muammar Gaddafi launched a major ground and air assault on opposition-held eastern Libya."
Qaddafi Forces Battle Rebels for Control of Libya's Oil
Gaddafi Strikes at Town; Rebels Eye Foreign Help
U.S. Marines near Libya; airstrikes mulled
Libya: Russia, China join France in opposing military action against Gaddafi
"Corpse" Gaddafi should step down: Kremlin source
Gaddafi defiant as West flexes military muscle
Aid agencies face escalating crisis as foreign workers flee Libya
Pro-Gadhafi forces said to block food for embattled Zawiya
Fighting back, Gaddafi forces seize eastern town
Reports: Gaddafi forces make gains
U.N. Official: 'Massive Evacuation' Needed For Refugees From Libya
No-Fly Zone In Libya Would Mean U.S. Airstrikes, Gates Says
Arabs may impose Libya no fly zone
Libya's Bankers Exposed: Goldman, JP Morgan And Citi
Canada girds for substantial military role in North Africa
"Canada is beefing up its military presence in the region around Libya, dispatching a patrol ship and special forces to prepare for more muscular evacuations that could evolve into major aid lifts or even a blockade to hem in the Gadhafi regime."

## Fault lines/flashpoints/military ##
South Yemen separatists find hope in spreading unrest
Yemen unrest: Thousands join protests against Saleh
Zimbabwe police detain activists for watching video of North African revolts
"The incident in Zimbabwe is part of a larger crackdown south of the Sahara on pro-democracy activists, many of whom have been inspired by Tunisia and Egypt."
Iran: Security forces break up Tehran protests
N.Korean Protesters Demand Food and Electricity
Moscow drops plan to deport thousands of dogs
"The Russian capital has an estimated 26,000 stray dogs, some smart enough to ride escalators and trains on the subway and others who intimidate or attack humans."
A sign of social disorder, as with the packs of dogs that roam Baghdad streets. -- RF
Peace now, with Syria (Ynet)
Saudi launches $37 billion benefit plan
Oman riots increase fears for Saudi
Arab revolt: Could Oman turn into 'next Egypt'?
Bahraini opposition widening reform protests
Russia Sets Arms Export Record of $10B
Brazil defers jet fighter orders for 2011
"Brazil has put off indefinitely its plans to buy 36 jet fighters for which it invited bids in 2010 after sharp cuts in its defense expenditure."
Hillary Clinton says US in direct competition with China for influence
"Secretary of State Hillary Clinton says the U.S. is in direct competition with China and risks losing influence as the communist country 'wines and dines' leaders in the resource-rich Pacific."
Iran ships to return via Suez Canal, says official
Nordics Team Up to Buy Light Patrol Vehicles
More defense teamwork, as with Britain and France. -- RF

## Russia/China vs. Japan ##
Japan scrambles F-15 as China jets near airspace
Russia demands Japan investigate protest outside its Tokyo embassy
Russia to deploy cruise missiles on isles: Interfax (Russia-Japan island dispute)
Preparing for the worst on the South Kuril Islands
This should leave no doubt on Russia's view as to who owns the islands. -- RF

## Energy/resources ##
Vietnam faces severe water shortage
Venezuela 2010 oil output lowest since 2002 strike
Airlines raise fuel charges on China runs
Jeff Rubin: Only A Recession Stands In The Way Of $200 Oil
A Detailed Look at Urban Energy Consumption
Despite Huge Resources Only a Small Amount of Oil is Recoverable
Peak oil common sense. -- RF
Oil import costs could spike 29%
Price of steel set to soar, cause carmaker woes (Japan)

## Environment/health ##
Arkansas Earthquakes Could Be Result of Shale Gas Production
Heavy Snowfalls, Extreme Storms Linked To Climate Change, Scientists Claim
Study: Most Plastics Leach Hormone-Like Chemicals

## Intelligence/security/internet/systemic breakdown ##
Bank of America website suffers outage ... again
Air Force's X-37B Space Plane Launching on Secret Mission Friday

## China ##
Fearing protests, China bars foreign reporters from shopping district
Terrified China Warns Hong Kong Media About Covering The "Jasmine Revolution"
Commodity Futures trading jumps by 38% in China
China to tie subsidies to low-income families with prices
Malls witnessing gold rush as shoppers fear inflation
Mideast Now; Is China Next? (DoD Buzz)

## UK ##
Petrol price hits record average 130p per litre
Banks write off 25% more debt
Defaults on credit cards hit more than £1 billion
Civil servant hiring freeze extended in push for savings
Belfast to Dublin train line maintenance work shelved
They can't take care of what they've got, but still insist on building high-speed rail. -- RF
Travel giants new fuel surcharges 'adds £160 to family holidays'
Britain Axes 11,000 Armed Forces Jobs: Government
Theresa May warns police of pay cuts
David Cameron 'looking at fuel costs'
UK solar installations to fall below 250MW on FIT doubts, industry warns
Anger at the banks is justified, Mervyn King says

## US ##
U.S. Postal Service Set to Default on Its Federal Debts
U.S. Getting Closer to $14.29 Trillion Debt Ceiling
Watch The Highlight Of Today's Congressional Hearing: Ron Paul vs The Bernank
Four time bombs that will blow up Wall Street: Too late to jail bank CEOs; only revolution will succeed
Thousands Still in Dark in Nevada County
This article on a long power outage caused by snow contains lots of lessons. -- RF
E. coli found on 50 percent of shopping carts
Residential construction spending down 8 percent from last year
Pension Funds Strained, States Look at 401(k) Plans
'Wisconsin's Broke,' Governor Says, Unveiling Budget
Such refreshing candor... and we're about to hear it from many other states. -- RF
Wisconsin police union joins protesters in statehouse
As Silver Touches $34.90, US Mint Runs Out Of Bullion Blanks, Halts American Eagle Silver Coin Production
NASA funding still up in the air
Providence to fire hundreds of teachers
Police launch crime blimp
Oil prices pass $102 for first time since Sept., and demand is growing
Downtown need a makeover? More cities are razing urban highways
Fire At Manhattan Con Edison Power Plant due to exploding transformer
State Worker Retirements Are Soaring Across the Country
Gettin' out while the gettin's good. -- RF
Roubini and Lehman say get out of muni bonds (Forbes)
US municipalities could default on $100bn, warns Nouriel Roubini thinktank
Meredith Whitney, we hear you talking! -- RF
Another Sign the Market Is Rigged? Ex-Goldman Board Member Charged With Insider Trading
In Latest Attempt To Boost Sagging Sales, GM Once Again Offering Interest-Free Financing On Numerous Models
The Risks of Social Instability: China Gets It; When Will America?
How a Democratic Middle East Is Bad For The U.S. Economy

<< Home

This page is powered by Blogger. Isn't yours?