Tuesday, April 12, 2011


News Links, April 13, 2011

## Global economic meltdown ##
Asia Deficits Swell as Soaring Oil Makes Leaders Delay Subsidy Reductions
Japan Quake's Economic Impact Worse than First Feared
"Japan's economics minister warned on Tuesday that the economic damage from last month's earthquake and tsunami is likely to be worse than initially thought as power shortages will crimp factory output and restrict supply chains. "
Korea Hints at Higher Rates
Asian Central Banks Want to Add Yuan to Reserves, Tetangco Says
Corporate Bond Risk Rises in Europe, Credit-Default Swaps Show
Taiwan close to passing luxury tax in response to widening wealth gap
"Taiwan's planned tax on everything from speculative real estate deals to yachts targets a politically volatile and growing wealth gap."
Bank of Korea Sees Consumer Price Inflation Quickening to 3.9% This Year
China Will Invest in Spanish Debt, Savings Banks, Wen Is Cited as Saying
Run on Silver Has Coin Shops Scrambling
China Fraud Basket Update
World Bank chief identifies key risks to global economy

## Fault lines/flashpoints/military ##
Libya: Alain Juppe says Nato is 'not doing enough'
Rebels Appeal for NATO to Break Qaddafi's Misrata Siege
MPs arrested over fuel price protests (Uganda)
Pakistan Tells U.S. It Must Sharply Cut C.I.A. Activities (NYT)
Tunisian migrants riot on Italian island
EU and France to inject $840 million to jumpstart Ivory Coast economy
China's role in realizing 'Latin America decade'
Yemenis decry immunity for president
"Tens of thousands hold protests against mediation by the GCC aimed at ending political crisis."
Mexico drug war's latest victim: the lime
"The lime, a staple of Mexico's taco culture, quadrupled in price to almost $4 a kilo (2.2 pounds) in December and January, drug traffickers blamed for meddling in the supply chain."
Pakistan-based militant group expanding: U.S. general
"A top U.S. general expressed concern to Congress on Tuesday about the expanding reach of the Pakistan-based Lashkar-e-Taiba militant group, warning it was no longer solely focused on India or even South Asia."
CIA, Pakistani spy chiefs meet amid tensions
Saudis seek navy buildup to face Iran
"Saudi Arabia has recently shown interest in medium-sized U.S. warships as part of its naval buildup to counter Iran, particularly surface vessels capable of countering asymmetric and air threats."

## Energy/resources ##
Switzerland says considering nuclear shutdown
Ethanol producers look into the weeds for corn substitute
Biofuel operations will find themselves competing with farmers for organic inputs. And the farmers will win because food comes first. -- RF
Brazil's Petrobras Looks to Chinese Financing
CNOOC eyes massive pipe to link China LNG terminals -official
The limits to solar thermal energy
"It is very commonly assumed that we can move from fossil fuels to renewable energy sources without significant change in the lifestyles and systems of rich countries. People might think that some things would have to be quite different, such as the kinds of cars they drive, but it seems to be taken for granted that the transition could be made without any threat to the growth economy, the free enterprise market system, or affluent living standards."
Train running late? Blame high copper prices
"Thieves lured by surging copper prices are creating a nightmare for European railways, sparking large-scale disruption, eroding profits and damaging their reputations."
Could Political Instability Rule out North Africa as a Major Solar Energy Producer?
IEA: March global oil output fell on Libya unrest
India and Iran solve oil payment problem
A Survey of the World's Radioactive No-Go Zones (Spiegel)
"Everyone knows about Chernobyl, Three Mile Island and, now, Fukushima. But what about Semipalatinsk, Palomares and Kyshtym? The world is full of nuclear disaster zones -- showing just how dangerous the technology really is."

## Got food? ##
China Pork Binge Driving Iowa-Sized Soy Imports on Shortage
"All the soybeans in Iowa won't be enough to meet the anticipated surge in China's imports over the next four years as the nation feeds a record pig herd and drives bean prices to an all-time high."
India again in wheat storage dilemma

## Environment/health ##
Fukushima radiation taints US milk supplies at levels 300% higher than EPA maximums
The Mighty Blueberry
Shale gas 'worse than coal' for climate
E. coli 'relatives' subject of study
"Lesser-known relatives of the E. coli bacteria strain behind outbreaks of foodborne illnesses in the United States could be just as dangerous, researchers say."

## Intelligence/security/internet/systemic breakdown ##
'Stun Ray' Will Blind You Into Submission
U.S. Dictating North American Air Travel Security

## Japan ##
Japan Lifts Atomic Alert to Highest Level, Matching Chernobyl
Fire seen at Fukushima nuclear plant; flames no longer visible
Video: Nuclear Engineer demonstrates How Fukushima's Fuel Rods Melted and Shattered
Tepco may face $23.6bn in claims, JP Morgan says
Cleaning Up Fukushima: A Challenge To The Core
Disasters Reverse Local Japan Recovery, Report Shows
Japan nuclear issue: PM seeks to calm food safety fears
Fukushima Vs Chernobyl - Compare And Contrast
Japan Disaster To Cost Insurers $21bn-$34bn: RMS
Kyushu Electric shelves plan to build third reactor
Japan's Devastated Coastline: The Pompeii of the Pacific

## China ##
A city of 260 million. Where else but China?
Recipe for disaster. -- RF
China to raise poverty line to 1,500 yuan

## UK ##
U.K. Retail Sales Plunge Most in 16 Years as Inflation Squeezes Households
U.K. Inflation Unexpectedly Slows as Stores Cut Food Prices
Britons becoming 'increasingly miserable', warns Action for Happiness campaign
London Ambulance Service to axe 890 jobs

## US ##
Big banks are government-backed: Fed's Hoenig
"Big banks like Bank of America Corp and Citigroup Inc should be reclassified as government-sponsored entities and have their activities restricted, a senior Fed official said on Tuesday."
History bodes ill for stock market
Obama Said to Call for Entitlement Cuts, Higher Taxes
Spending cuts not expected to dent $1.5T deficit
Small business survey worst in five months
Off-the-charts income gains for super-rich
Check out the killer graph. -- RF
A Financial Crisis in 2012 is Inevitable! Here's Why
"2012 is shaping up to be the blockbuster main event of the ongoing financial crisis. Massive amounts of new debt, vast quantities of additional digital dollars and the spark of higher interest rates will set off version 2.0 of the credit-driven financial implosion."
Wave of consolidation may be coming in military electronics
"The prospect of big declines in military spending has to raise doubts about whether all of the players currently operating in the military electronics space can survive over the long run."
Must read! Cramer's View of the Market Is Now 'Grim'
IMF Sees 2011 US Budget Deficit Of GDP At Highest 10.8% Of Developed Countries, Same As Ireland
Pennsylvania leads the nation in troubled bridges
"The current federal bridge-repair program provides $5.2 billion a year, compared with what the Federal Highway Administration estimates is a backlog of $71 billion of repair needs."
Gas Prices Climbing Toward $5 Per Gallon
Floods swamp ND, Minn. farms, but not fortified cities
Schools facing rise in homeless students
Gas Prices Move Closer To The Tipping Point
Escalating fuel costs push import prices
Inflation Actually Near 10% Using Older Measure
The Debt Bomb Is Coming Due
Oregon's Governor Performs Triage Exercise on Ailing Budget
U.S. Automakers to Add 36,000 Workers, CAR's McAlinden Says
American Ghost Towns of the 21st Century
Cotton prices heat up this summer

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