Wednesday, May 11, 2011

 

News Links, May 12, 2011

## Global economic meltdown ##
Italy Next to Seek EU Bailout: Wealth Manager
German Inflation Accelerated More Than Estimated
'I Will Be Shorting US Bonds': Jim Rogers
Large Question for Japan's Megabanks (WSJ)
Greek Debt Crisis "An Absolute Nightmare," FT's Wolf Says
Greece May Restructure Next Year, Deutsche Bank's Ruskin Says: Tom Keene (Bloomberg)
Spanish Revenues Collapse by 16.8%, GDP Misses Target; Is a Bailout of Spain in the Cards? (Mish)
Meet the System That Will Collapse the U.S. Dollar (Part 1) (Financial Sense)
On the collapse of the "petrodollar" system. -- RF
Roubini questions optimism on earnings

## Fault lines/flashpoints/military ##
EU to open Benghazi office to aid Libya rebels
Libya: Nato doesn't know if Col Gaddafi is dead or alive
Turning point? Libya rebels reportedly seize Misrata airport
Working In Shadows: Best U.S. Policy Toward Iran?
Mass graves in Durango may set Mexican record
"The head of the National Action Party in Durango, Juan Carlos Gutierrez, an opponent of the governor, said criminal groups composed a 'parallel state' in Durango. 'They collect extortion — a kind of tax — and they have armed forces that seem almost like a clandestine army,' Gutierrez said. 'These are the characteristics of a state: have an army, collect taxes, maintain peace.'"
U.S. commander: Bin Laden's death doesn't end Afghan war
Tunisia arrests nearly 200 after protests
New general strike over Greek austerity program
Riot police clash with protesters in Athens
"Riot police fired tear gas and stun grenades to break up dozens of protesters throwing stones and petrol bombs in central Athens as anger erupted over Greece's harsh austerity measures."
Yemen forces fire on protests in 3 cities; 9 dead
Irregular warfare conference scheduled
Saudi men decry mall bans

## Energy/resources ##
IPCC report: Renewables can never meet energy demand (unless most people die or remain miserably poor)
"Renewables will only ever provide above half the world's supply in some grim future where the great majority of the human race is either wiped out within a generation or remains in grinding, miserable poverty."
How absolutely refreshing to see such honest journalism. -- RF
US recognizes India's need for Iranian oil -official
Venezuela begins electricity rationing after blackouts
Fukushima and the 'nuclear renaissance' that wasn't (CNN)
Gold mining companies face challenges finding new supply
Peak gold. -- RF
Fusion goes forward from the fringe
Don't get excited yet. We've been down this road before. -- RF
A battle for the Earth's last remaining frontier
World's largest natural gas co, Gazprom, sees demand spike
Nord Stream one step closer to completion
Heat ignored in debate over energy
This debate will go nowhere until all parties admit that central heating has got to go. -- RF
Rare Earth Woes Could Mean Trouble for U.S. Stealth Fleet
Alaska Pipeline Getting Dangerously Cold
"Northern Alaska isn't producing as much oil as it used to, and that could spell disaster for the Trans Alaska Pipeline. The pipe now transports about a third as much oil as it did at its peak, which makes the entire process about five times slower. That in turn lowers the temperature of the pipe, making it more prone to corrosion, clogs, ruptures, and spills."
U.S. sees high oil price cutting into global demand
Japan Quake May Mean Extra 12 Million Tons of LNG, Arctic Says
Coal Price to Rise as Japan Rebuilds, Standard Chartered Says

## Got food? ##
Dry French Spring Raises Specter of 2003 Heat Wave
US: Imported Food Cost Up 20% From Year Ago, Biggest Increase Since 1977; Other Imported Goods Up More Than Expected
World wastes 1 billion tons of food a year
And a lot more will be lost when the cold chain breaks down. -- RF
Arkansas farmers hard hit by floods

## Environment/health ##
Sick fish in Gulf are alarming scientists
"Scientists are alarmed by the discovery of unusual numbers of fish in the Gulf of Mexico and inland waterways with skin lesions, fin rot, spots, liver blood clots and other health problems."
Bedbugs with 'superbug' germ found
Streets flooded, power cut in Saudi city of Jeddah

## Intelligence/security/internet/systemic breakdown ##
At a Cost of More Than $5,000 Per Minute, Data Center Outages Can Be Painful
"Further, outages are not rare occurrences, with 95 percent of U.S. businesses experiencing at least one unplanned data center outage in the past two years."
Bin Laden son questions killing (Al Jazeera)
No explanation for 'outbreak of insanity' on planes

## Japan ##
Cold shutdown of Hamaoka due this week
Hamaoka shutdown could trigger chain of power shortages
"Given the routine electricity exchanges among power companies, the shutdown of all reactors at Chubu Electric Power Co.'s Hamaoka nuclear power plant could lead to dwindling power supplies of other regional utilities."
Video: Nuclear collapse looms? Fukushima No. 4 reactor 'leaning'
Fukushima Spent Fuel Pool Video - Unit 4 Video
TEPCO finds another leak of radioactive water into sea
Radiation in soil near troubled Japan nuclear plant exceeds Chernobyl evacuation level
Gov't, TEPCO in uphill battle to contain Fukushima reactors, set to review roadmap
"Two months after the outbreak of the crisis at the Fukushima No. 1 Nuclear Power Plant, the government and Tokyo Electric Power Co. (TEPCO) are still fighting an uphill battle to contain overheating nuclear reactors and are likely to review their roadmap that seeks to put the reactors under control within six to nine months."
Idyllic village on way to becoming nuclear ghost town
Japan aims for Tepco compensation scheme this week
Gov't plans to supervise TEPCO management for over 10 years
Tepco to accept aid with strings attached
Key economic gauge takes worst drop ever: Coincident index reflects wreckage of March disaster
"The pace of decline was faster than the previous record of a 3.1 point fall marked in November 2008 after the collapse of U.S. investment bank Lehman Brothers Holdings Inc. two months earlier."
Toyota quarterly profits drop 77% but recovery expected
Supply problems and shadow of recall plague Toyota
Renesas: Quake-Hit Plant to Be at 50% by Late July
"Before the March 11 earthquake, the Naka plant turned out a quarter of the company's microcontroller chips that control a variety of functions in vehicles. Given Renesas's market share, the plant's absence could translate into a 10% cut in global supplies of the chips."
Two months after Japan quake, neediest victims still await aid
Nuclear crisis to increase Japan's short-term reliance on thermal power
Japan utilities reportedly stock up on LNG

## China ##
China April inflation rate, 5.3 percent
China Inflation Spreading Beyond Food Adds Pressure
"China's inflation is spreading beyond food, signaling Premier Wen Jiabao's strategy of quarter-point interest-rate increases every two months has yet to contain consumer prices."

## UK ##
Bank of England inflation report: Mervyn King set to slash UK growth forecasts
BT plea to curb copper thefts as services hit in Wales
Dengue fever cases 'double in UK'
Britain's housing market is an unexploded economic bomb
Loss of Carrier Strike Capability Top Concern of Royal Navy Chief

## US ##
So much for tough stance on robo-signing, states may east foreclosure settlement
Sacramento Homeless Take City To Court Over Seizure Of Possessions
How Fuel Fees Are Keeping Airfares Aloft
Cyberwarfare rules included in Defense bill
Forbes Predicts U.S. Gold Standard Within 5 Years
Slumping oil, commodity prices halt stock rally
April Budget Deficit Totaled $40.49 Billion
Nuclear Plants to Submit Plans in Case of 'Extreme Event'
Cold Putting a Damper on Alaska Pipeline (Video)
Texas Grid Says EPA Rules Force Gas-Plants To Shut
"The electric grid agency for the state of Texas said on Wednesday that stricter federal air, water and coal regulations could force the retirement of more than 8,000 megawatts of natural gas-fired power generation in the state, making it difficult to meet electric demand in 2015."

And finally... Police arrest man in Batman costume



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