Friday, April 15, 2011


News Links, April 16, 2011

## Global economic meltdown ##
Moody's cuts Ireland rating to 1 grade above junk
Eurozone is facing fresh crisis amid fears Greece cannot repay debt
Greek debt crisis Act II: one of five things to watch April 15
"Greece's lending costs, domestic mortgage rates and the price of consumer goods: all headed higher."
Greece Plans $110 Billion in Austerity Measures, Asset Sales to Cut Debt
Germany Floats Greek Restructuring as Papandreou Pushes Cuts
Brazil's airports 'not ready for World Cup 2014'
Ford turns commodity inflation into higher car prices
India Inflation Accelerates in March (8.98%); Rate Hike Seen
China, India prices point to mounting global inflation
China Imposes Price Controls
Singapore's Policy Tightening May Prompt Asia to Step Up Inflation Fight
Overheating Threatens Asia as China, India Rate Rises Fail to Tame Prices
Japan's Production Shortfall Drags On EM Asia Supply Chain (Forbes)
Stone McCarthy Sees Severe Economic Deterioration In April, And Q2, As A Result Of Japanese Supply Chain Destruction
China Net Seller of U.S. Treasurys in February
Gold rallies to record; silver hits 31-year high
Expert: U.S. should 'give up on the dollar'

## Fault lines/flashpoints/military ##
Abu Dhabi Crown Prince Meets Top U.S. General
Israel seeks 6th German sub to boost navy
Libya: Obama, Cameron and Sarkozy vow Gaddafi must go
U.S., allies see Libyan rebels in hopeless disarray
Saleh must go now: Yemen religious, tribal leaders
Saudi Shi'ites rally for second day to call for rights
Syria: Clashes at mass Damascus protest
Jordan police fire tear gas to stop clash, 20 hurt
Burkina Faso capital erupts in protest
"Military guards shoot weapons into air, loot shops and steal cars in Ouagadougou in protest over unpaid allowances"
Burkina Faso's Compaore sacks government, army chief-radio
Predicting Global Revolutions, Civil Wars and Riots
"Every 10 percent increase in global food prices equates to a 100 percent increase in anti-government protests, according to a recent report from the International Monetary Fund. Looking at recent increases in foodstuff commodities — up a total of 45 percent since the arrival of QE2 last year — it's no wonder there are revolutions, civil wars and riots breaking out across the globe."

## Energy/resources ##
Grid problems trigger rolling wind-farm outages in Pacific Northwest
"Wind power producers in Oregon and Washington State are likely to be the first casualties claimed in the impending morass triggered by calls for reverse rolling power outages at wind farms to keep the regional transmission system operating smoothly."
The Geopolitics of China-African Oil
Radioactive Cows And Methane Tap Water Spark Fracking Debate Amid Pennsylvania Gas Boom (VIDEO)
Fuel prices soar, diesel to cost more than petrol
"More Kenyans will fall into extreme poverty after the price of various fuels surged to a historic high Thursday even as civil unrest over high food prices sparked by oil price increases rocked Uganda's capital Kampala."
Brazil Ethanol at Record High, Price May Rise Again in 2012, Archer Says

## Got food? ##
20 Signs That A Horrific Global Food Crisis Is Coming
Study: Half of supermarket meat may have staph bug (US)
Bon appétit! -- RF
Rising Tomato Prices Attract Vegetable Thieves (US)
Foods Hijacked by Ethanol: It's Not Just Corn
Venezuela Raises Some Food Costs 48% Amid Inflation Surge

## Environment/health ##
Pacific salmon may be dying from leukemia-type virus
New Mexico looks to expand nuclear-waste business
A Swedish geologist once assured me that there is not a single place on Earth that is geologically stable enough to safely accommodate nuclear wastes for thousands of years. -- RF

## Japan ##
Fuel rod fragments at bottom of vessels
WHO eyes 20 year nuclear health watch in Japan
Government Orders Operator Of Damaged Nuclear Plant To Compensate Evacuees
Japan Plans State-Backed Insurer to Save Tepco: Report
TEPCO to secure additional 5 mil kilowatts of power for summer
We had better hope so. -- RF
Schools keep kids indoors / Outdoor activities in Fukushima Pref. stopped over radiation

## China ##
Ai Weiwei only the most prominent activist targeted in broad Chinese crackdown
"Ai Weiwei is among more than 100 activists to have disappeared, been detained, or confined to their homes in a wave of repression signaling deep anxiety over Arab revolts and the power of the Internet."
China's economy expands 9.7% as inflation accelerates to fastest rate since 2008
High-speed trains to nowhere?
Observations On The Chinese Real Estate Sector Following The Biggest Price Decline In 5 Years

## UK ##
RAF Typhoon jets grounded owing to spare part shortages
Poverty hitting pupils' learning, survey suggests
Sentance Says U.K. Inflation May Exceed 5% on Pound Weakness

## US ##
Quarterly Reports: Aggregate Earnings Likely to Fall Short of Consensus Estimates
"Weak corporate tax collections in the first quarter and through April 11 could mean that many quarterly earnings reports may surprise the market by failing to meet analysts' inflated expectations. Either corporate profits are falling sharply or else corporations have suddenly become much savvier about off-shoring income and avoiding taxes."
GRAPHIC: 10 Years, 10 Broken U.S. Debt Ceilings
Leukemia Patients Will Get Imported Drugs During U.S. Shortage
California Budget: State Slashes Free Cars For Legislators
US Luxury Spending by Rich to Rise: Poll
"Spending by rich Americans on luxury goods is set to grow by $26.6 billion in 2011, with the number of affluent families planning to spend more almost doubling in the past three years, a poll found Friday."
More Americans leaving the workforce
"Only 45.4% of Americans had jobs in 2010, the lowest rate since 1983 and down from a peak of 49.3% in 2000. Last year, just 66.8% of men had jobs, the lowest on record."
Study: Gas prices will be 40% higher than last summer
Rising food, gas prices lift U.S. consumer inflation
US consumers 'held hostage' by rising fuel prices
Bank of America profits fall due to mortgage losses
Red flags popping up all over Bank of America
5 banks shuttered; makes 33 closed in '11
Goldman Sachs More Than Doubled Muni Exposure in 2010
Gasoline averaging $4 a gallon in 5 states
Motorists, gambling on finding a better price, are running out of gas (LA Times)
"For the first time since the record-setting gasoline- and diesel-price summer of 2008, there has been a double-digit increase in the number of Southern California motorists gambling -- and losing -- a bet that they will find a pump price they can live with before they run out of fuel. Experts say it's a common form of rolling the dice out of anger and frustration."
I see an ugly mood developing. I've said before that Americans will likely be moved to civil unrest over gasoline prices before food prices. -- RF
The Rising Price of Retirement
No friendly skies in U.S. airlines' earnings
Detroit public school teachers get layoff notices

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