Saturday, April 09, 2011


News Links, April 10, 2011

## Global economic meltdown ##
Iceland to vote on Icesave-Landsbanki debt repayment
Survey: Iceland to reject payback deal
Portugal Told to Make Deeper Deficit Cuts to Gain $116 Billion EU Bailout
Stocks Drop in U.S. on Concern Soaring Oil Will Hamper Worldwide Expansion
As Japan goeth, so goeth the US (Bill Bonner)
"The US now finds itself in much the same fiscal boat as Japan. America's "stimulus" efforts have become permanent, structural elements of the economy."
Inflation Drives a Shift in Markets (WSJ)
"After being pushed and pulled this year by tumult in the Middle East and the quake in Japan, the world's financial markets are increasingly being driven by economic fundamentals, including inflation and interest rates."
Wall St. Stands at the Pinnacle of 5,000 Years of Human Exploitation (David Korten)
"As powerful as Wall Street appears to be, its abuse of power has so eroded the economic, social, and environmental foundations of its own existence that its fate is sealed."
Europe's $2 Trillion of Distressed Debt Set to Outstrip U.S.
EU finance ministers defend austerity
Greek Loan Relief May Be Insufficient, Germany's Schaeuble Says
Greek Debt Restructuring Neither Necessary Nor Desirable, Papademos Says
Famous last words. -- RF
"Serious" tire shortage looming: Caterpillar
"(Reuters) - The mining industry could face a serious shortage of tires by the end of this year and that could lead to delays at a time when demand for mining equipment is booming, the head of Caterpillar's (CAT.N) global mining division said on Thursday."

## Fault lines/flashpoints/military ##
Sadr calls for an end to 'US occupation'
"Moqtada al Sadr, a prominent Iraqi Shia cleric, has threatened to revive his Mehdi Army and relaunch armed resistance against continued US presence in the country."
Army beats protesters as it breaks up Egypt rally
Israel pounds Hamas targets in Gaza for third day
Gadhafi Forces, Rebels In Battle For Key Town
Anger flares up across Yemen
"Hundreds injured, some critically, as security forces open fire on anti-government protests across the country."
U.S.-Pakistan intelligence operations frozen since January
Netherlands to Cut 12,000 Defense Posts
Saudi activists post protest video on YouTube
Saudi's Grand Mufti urges better treatment of women
Trade unions march in Budapest against EU austerity

## Energy/resources ##
Libyan unrest sends oil prices soaring to $124 a barrel
What is "our" oil doing in their economy? — Saudi oil consumption trends
"Saudi net-exports of crude oil have entered terminal decline."
Kingdom assures Asia of uninterrupted oil supply
Billions needed to maintain Canada's power grid: Report
"Canada's power grid needs an annual investment of $15 billion over the next 20 years... about $294 billion would be needed between 2010 and 2030 to cope with the strain placed on out-of-date infrastructure by increasing demand."
The Financial Roadblock to Technological Nirvana: Electric Cars and the Smart Grid
"The recent recession has pointed out that the US, and big chunks of the rest of the world, now lack the financial resources to move to a future of a more efficient and reliable power grid."
In other words, the smart grid ain't gonna happen... anywhere. -- RF
Peru cancels Tia Maria copper mine project after protests
Mango Farmers, Fisherman Fight India Nuclear Plant
63 evacuated from Norway oil rig after gas leak
C.N.O.O.C. To Acquire New Oil Exploration Areas In Uganda

## Got food? ##
Rice: The Secret Ingredient in Everything from Baby Food to Beer
"Favoring more profitable crops, farmers plant less rice despite rising consumption. What impact will that have on consumers?"

## Environment/health ##
The drugs don't work - so what will?
"The world is heading towards a post-antibiotic era in which many common infections will no longer have a cure and, once again, kill unabated."
Radiation detected in drinking water in 13 more US cities, cesium-137 in Vermont milk

## Intelligence/security/internet/systemic breakdown ##
Critical Infrastructure Companies Plagued by Security Breaches, Survey Finds
1,000 Japan Post Bank ATMs unavailable due to computer glitch
Sony Not Expecting to Launch a PS4 'Anytime Soon'
"As the technology has evolved, the R&D and overall investment needed to launch a high-end console has risen tremendously."
High tech contains much embodied energy, which means that as energy becomes more expensive, R&D costs rise quickly. -- RF
Internet 'Neutrality' Rules Are Rejected by House (US)
Computer stalking outstrips face-to-face harassment (UK)
Kremlin rejects Russian security service proposal to ban Skype, Gmail, Hotmail

## Japan ##
Japan to pump radioactive water into sea until Sunday
Workers begin installing enclosures to prevent sea contamination
Soil cesium limit set for rice / Some farmers won't be allowed to plant this season, possibly longer
Huge pumps heading to reactors to spray water — maybe concrete?
Water spilled from fuel pool at Onagawa nuclear plant during aftershock
Cigarette shortage looms; stress rises among smoking evacuees
End to Japan nuke crisis is years, a fortune away

## China ##
The next big driver of gold's bull market – China's middle classes
Wen Asks Local Governments to Help Control Property Market
Protest targets noisy airplanes

## UK ##
Police fear further attacks on officers in Northern Ireland
Property investors are delusional: house prices will fall

## US ##
Toyota Cuts North America Output as Parts Shortage Reaches U.S.
Regulators shut small Illinois, Nevada banks; makes 28 US bank failures in 2011
After decades of decline, the bus is the U.S.'s fastest-growing way to travel
Firefighters struggle to contain massive Texas wildfire

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