Tuesday, April 26, 2011


News Links, April 27, 2011

## Global economic meltdown ##
2008 crash deja vu: We'll relive it, and soon: New bubble is hotter, bigger than the last one (Paul Farrell)
Soaring food prices to dent Asia's growth, ADB warns
Germany's Feld Says Greece Can't Avoid Debt Restructuring
Greece and Portugal debts worse than expected
Greece under pressure as eurozone debt hits record
China creeps toward a crisis
"By taking a weak stance on inflation, China is inviting political unrest. That sets it on a dangerous course of greater political repression and even less action on inflation."
Construction in Spain Down 31% Compared to Same Month in 2010, Germany Up 56%
Christchurch Faces 20-Year Post-Quake Rebuild, Fletcher CEO Says
As in Japan, it will be impossible to rebuild everything. -- RF
South Korea's Growth Accelerates, Adding Price Pressure
Gross World Product Will Not Grow at 4%+ for Five Years
Indebted Nakheel halts property sales in Dubai
Buy gold (MarketWatch)

## Fault lines/flashpoints/military ##
Thai-Cambodia clashes spread east to Preah Vihear
Thai police close down dissident radio stations
U.S. Embassy staff evacuate from Syria
US urges Americans to leave Syria
Rise of Populist Parties Pushes Europe to the Right
France and Italy in call to close EU borders in wake of Arab protests
Firms plan private war against pirates
Iraq cabinet okays $37 billion for infrastructure
"Iraq has approved an ambitious $37-billion programme to upgrade Iraq's collapsing infrastructure, which has fallen victim to three decades of war and sanctions, a government spokesman said on Tuesday."

## Energy/resources ##
China Coal-Prices climb again, Indonesian imports boosted
Saudi Uneasy With High Oil Price, Worried About Economy
China to Curb Production of Grain-Based Ethanol, Oilseed Biodiesel Output
China caps rare metals output, raises mandatory quota
China, Australia sign $600m iron ore deal
Jeremy Has Spoken (But Rest Assured, Pro Money Management Isn't Listening) (Gregor Macdonald)
China Seeks Bigger Role in Australia Economy
Saudi Electricity may revise investment plans
Russia pipeline rules may cut oil exports-trade

## Got food? ##
As Food Surges, So Do Food Company Valuations
Countries Most Vulnerable To Food Shock
The Cost of Climbing the Protein Ladder

## Environment/health ##
Chernobyl disaster: four ways it continues to have an impact
Mega-technology: It's the gift that keeps on giving. -- RF

## Intelligence/security/internet/systemic breakdown ##
PlayStation Network will be down longer than six days
Sony hacker may have accessed 77 million users' data, possibly including credit cards
Network issues cause police comms crash (New Zealand)
"A network failure has crashed normal communications at 130 police stations around the country, three communications centres and Police National Headquarters."
High-Speed Rail: A Bad Idea in the U.S., a Bad Idea in China
"The meager ticket sales to China's growing urban professional class (which would also be the targeted demographic in the United States) can't even cover interest on the construction debt, let alone operating costs and ongoing capital costs related to expansion and maintenance."

## Japan ##
Japan GHG Emissions Fall 5.6% as Energy Demand From Factories Drops
No dreams': Japan farmers protest nuke leak
Kagome to stop buying Fukushima tomatoes
Rebuilding Japan's disaster-hit towns may take a decade
Much of the disaster-hit region was already economically depressed, and many towns will not be rebuilt, at least not in the modern sense. -- RF
90% Of Factories To Restart By July: Survey
"But the survey also shows that at many companies, supply chains will not fully recover until autumn at the earliest."
Nissan to limit Japan output due to parts shortage
Domestic auto factories running at 50%
Quake rendered 90% of fishing boats in 3 prefectures unusable
16 prefectures' pastures face radioactivity checks
"The government plans to check for radioactive contamination in grass for livestock in the eastern half of Honshu to prevent contaminated beef or milk from entering the market amid the continuing crisis at the Fukushima No. 1 nuclear plant, officials said Tuesday."
High radiation levels detected at Fukushima grounds a month after explosions
Computer makers pushing easy ways to save electricity
Peak-leveling appliances arriving to address electric power shortage

## China ##
China to invest $391 bln in power grids from 2011-2015 -report
China Said to Raise Capital-Adequacy Ratios for Biggest Banks to Curb Risk
China expects export growth rate to fall
"China could see a sharp fall in its export growth rate this year while imports could jump, the government said."
Summer power shortage warning (Shanghai)
"SHANGHAI residents face the prospect of power shortages this summer as the city's supply cannot keep pace with soaring demand, the energy supplier warned yesterday."

## UK ##
Hopes of Wedding Boost for U.K. Economy Are 'Wishful Thinking'
UK in Libya for the long haul

## US ##
Blackout shuts down gasoline refineries
"A blackout knocked out power to a BP refinery -- the third-largest gasoline refinery in the country -- as well as facilities operated by Marathon and Valero in Texas City, Texas on Tuesday."
Gulf Gasoline Surges After Power Cut to Texas City Refineries
Wealthy Leaving Las Vegas Mansions as Pain of Foreclosure Crisis Spreads
'Smart' power grid needed for electric vehicles But...
The Cost Of The Smart Grid: $476 Billion
After Dallas Fed, Richmond Fed Re-Confirms Economic Contraction: Manufacturing Index Plunges
Republican Ron Paul to explore presidential run
Civility problems cause uproar on college campuses
Home prices continue to slump into double-dip
It's not a double-dip, just a continuation of the overall downward trend. -- RF
One-third of U.S. households own guns
Explosive found on Texas road near Mexico border
An American Tale: More Growing Deficits, This Time It's Our State Pensions
"While a great debate rages in states across the country about benefits and pensions for state workers, existing pensions continue to fall short of their funding needs. State pension deficits increased 26% to $1.26 trillion in 2009, according to the Pew Center."
Tough recovery seen for pension funds
"State pension systems face a tough road to recovery after being battered by the recession, experts said Tuesday, with one saying it will take nearly a decade to get assets back to where they were in 2000."
Americans raiding retirement funds early
"Despite increasing signs of a stabilizing U.S. economy, 19 percent of Americans -- including 17 percent of full-time workers -- have been compelled to take money from their retirement savings in the last year to cover urgent financial needs, the Financial Security Index found."
Poll: Most Americans think a nuclear accident likely here
Pimco's Observations As The US "Reaches The Keynesian Endpoint" - The QE2 Ponzi Scheme Is "Nothing But A Profit Illusion"
Biggest US airlines have combined 1Q loss over $1B
Tracking The Next Gasoline Induced Recession
No inflation unless you eat, drink, drive or fly

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