Monday, May 02, 2011


News Links, May 2-3, 2011

Note: Rice planting kept me busy all day yesterday. But the crop is in. I planted 50% more than last year.

## Global economic meltdown ##
ECB is leading Ireland and the eurozone to disaster
Minister: Greek debt manageable
Greek Unions Strike Over Government Austerity Measures
Millions march on May Day amid austerity measures in Europe
Germany and France raise two-speed recovery concerns
Airline fees: The $500 surprise
Asia Seeks to Diversify Record Reserves as U.S. Dollar Declines

## Fault lines/flashpoints/military ##
Osama bin Laden killed in shootout, Obama says
UBL death photo is fake (MSNBC)
Osama bin Laden's body 'buried at sea', say US officials
"Finding a country willing to accept the remains of the world's most wanted terrorist would have been difficult, the official said. So the US decided to bury him at sea."
Great PR coup for Obama. But will it have an appreciable economic effect? And there is also the question of whose body was quickly dumped at sea. -- RF
Iran Commander Warns Saudi Arabia Of Unrest
Protests Flare in Maldives
"Dozens of people were injured and many were arrested early Sunday as police used tear gas and batons to break up an antigovernment protest in the Maldives, activists said."
Libya crisis: UN leaves Tripoli amid mob attacks
Syrian demonstrators vow week of protests to break siege at Dera'a
'Tanks firing' in Syria protest city of Deraa
Will the Muslim Brotherhood soon control Egypt's parliament?
GCC Aims to Start Over as Yemen Peace Process Collapses
China boosts marine surveillance over island tensions
The map shows the absurdity of China's claims, but that's not going to stop them. -- RF
NATO tankers torched, 4 policemen killed (Pakistan)
U.S. Private Sector Providing Drug-War Mercenaries to Mexico (NarcoNews)
Israeli Jets Prepare For Imminent Strike Against Iran: Iranian TV

## Energy/resources ##
Barents Sea Strike Offers Norway's Oil Industry Arctic Revival
500 million barrels? Do the math! That wouldn't even last the world a week. Surely Norway isn't counting on piddling finds like this to stop its production decline. -- RF
Blizzard stops Bakken
"More than 30,000 people and thousands of oil wells sites were without power in northwestern North Dakota and eastern Montana... The blackout abruptly stopped production at most oil wells in the region, since all but the newest wells run on grid-generated electricity."
Second-phase water rationing could be introduced in May (Taiwan)
The Rising Tide of Resource Nationalism
Merger Bonanza, The Shrinking Coal Sector

## Got food? ##
UN food advisor says let them eat insects
Warning for regional countries as a result of high food prices
Peruvian Inflation Accelerates Faster Than Expected on Soaring Food Costs

## Environment/health ##
Villagers in Northern India Face Severe Water Shortage

## Intelligence/security/internet/systemic breakdown ##
Sony says 25 million more accounts hacked
Fearful of Becoming Next Egypt, North Korea Confiscates Mobile Phones

## Japan ##
Diet OKs Y4 tril extra budget for quake reconstruction
Japan Resumes Hyprintspeed Part 1: A Look At The BOJ's Current, And Future, Quantitative Easing
Japan Resumes Hyprintspeed Part 2: Presenting.... One QUADRILLION
Not recommended reading unless you have a strong heart. -- RF
Wagyu Farmers Defy Evacuation Order as Radiation Threatens Fukushima Farms
U.S. medical group blasts Tokyo radiation policy on Fukushima children
Fukushima parents dish the dirt in protest over radiation levels
"Furious parents in Fukushima have delivered a bag of radioactive playground earth to education officials in protest at moves to weaken nuclear safety standards in schools. Children can now be exposed to 20 times more radiation than was previously permissible."
Japan's Edano Says No Limit to Tepco's Liabilities
TEPCO faces uphill battle in filling nuclear reactor containment vessel with water
Power cut doomed fallout computer
Nomura's Profit Outlook Dims as Quake Weighs on Japan, Adds to Global Woes
Japan's new vehicle sales mark largest fall in April
Wages fall in March for 1st time in 13 months, blackouts blamed
Major Japan firms foresee 5.9% pretax profit fall in FY 2011
Quake-tied bankruptcies double '95 Hanshin pace
No. of children drops for 30th straight year to record-low 16.93 mil

## China ##
China manufacturing growth slows in April, hit by tightening
Power supply shortages likely to impact steel outputs in China
Power cuts worst for smaller businesses
"Power shortages across the country in recent weeks have forced some provinces to ration electricity for industrial use, causing severe financial losses to private enterprises in Central and East China."
China's steel demand seen softening
"A slower Chinese economy and margin killing iron ore prices will likely cause a decline in steel demand, industry analysts said recently."

## UK ##
Motorists Take Precautions To Prevent Fuel Theft (UK)
"Worried motorists are stepping up car security in the wake of reports of a growing wave of fuel thefts. Halfords reveals sales of locking fuel caps up 54% in the past week. Police also warn of a rise in thefts of number plates that can be used in drive-offs from petrol stations."
Scots windfarms paid cash to stop producing energy
"Six Scottish windfarms were paid up to £300,000 to stop producing energy, it has emerged. The turbines, at a range of sites across Scotland, were stopped because the grid network could not absorb all the energy they generated."
Unions warn of 'massive' protests over government cuts

## US ##
FDIC closes five U.S. banks
Forced outages hit home: Appliances, electronics at risk from power losses (Guam)
Is $5-a-gallon coming soon?
"At the same time, rising gas prices are quickly pushing up the cost of everything from food to asphalt to any product transported by truck or airplane. Beef prices in March were up 12.2% from a year earlier, and pork prices rose 11.2%, according to the U.S. Department of Agriculture."
Underwater Mortgages, Student Loans Will Keep the Economy Weak
Atlantic City looks to bus more homeless back home
You Know We're Screwed When Wal-Mart Says We're Screwed
Teen joblessness may hit record this summer
Osama bin Laden is gone, but US war in the Middle East is here to stay
"Osama bin Laden's death does not mark a turning point in the 'war on terror' – because this is really the 'war for the American way of life,' which depends on access to foreign oil."
Churches can't afford to maintain their steeples
Honda to cut production of new Civic, other models
Dearth of Bank Lending is Problem for U.S. Economy
The world economy is already saturated with debt, much of which can't be paid back. But we are locked into a Ponzi-scheme system that will collapse without ever-expanding debt. -- RF
Commercial Real Estate: "Ghost Malls" in the Making?
"Yes, there they are -- handsomely constructed strip malls, still looking quite new. Yet they also look like "ghost malls." In the absence of customers, all that's missing to complete the scene are a few tumbleweeds to blow across virtually empty parking lots."

And finally... Thief trips, has 'wardrobe malfunction'

<< Home

This page is powered by Blogger. Isn't yours?