Sunday, May 22, 2011


News Links, May 23, 2011

## Global economic meltdown ##
Egypt Is 'Disintegrating' as Tourism Drop Cripples Economy, ElBaradei Says
As Greece Gets Sicker And Sicker, Here's What's In The Next Round Of Austerity Medicine
As Greece Has Less Than Two Months Of Cash Left, An Insolvent ECB Sees A Widening Rift With Germany
What happens when Greece defaults
"It is when, not if."
Euro Tumbles as Policy Maker Says ECB May Not Be Able to Accept Greek Debt
The World is Drowning in Debt
Get Ready For Accelerating Devaluation of All Fiat Currencies (

## Fault lines/flashpoints/military ##
British Ambassador evacuated by helicopter as Yemen mob surrounds diplomatic meeting
Yemen unrest: Gulf states suspend transition deal
Mexico police seize 'narco-tank' used by drug gang
Al-Qaeda chief calls for uprisings in Saudi Arabia
'Suicide' gunmen storm government building in Afghanistan
Anti-Israeli sentiment growing in 'Arab Spring' (video)
Georgia opposition calls for Day of Rage protest
Mass Spanish protests continue into polling day
Dozens wounded as Moroccan police beat protestors
NATO widens campaign to weaken Libya's Gadhafi
Iran's military gets new missile system
Officials: Militants Attack Pakistani Navy Base
"Islamist militants attacked a naval aviation base in the southern Pakistani city of Karachi late Sunday, rocking the base with fiery explosions and battling commandos sent in to subdue the attackers, security officials said."

## Energy/resources ##
Why oil prices rose in the spring of 2008 and will rise again (Forbes)
"The simple fact is that the bottom half of American income earners are losing oil consuming power to the top quarter of Chinese income earners and the top one tenth of Indian income earners. "
Power shortage further paralyses economy (Pakistan)
China issues national guideline to strengthen rare earth monopoly

## Got food? ##
World Food Program running out of food

## Environment/health ##
Iceland volcano eruption larger than last year's, closes airport

## Intelligence/security/internet/systemic breakdown ##
Interpol launches nuclear terror prevention unit

## Japan ##
Japan quake reconstruction may cost up to $184 billion: Yosano
Record loss may be only the beginning for TEPCO
Tepco Plans New System to Cool Reactors
All this expense for reactors that will never again generate power. -- RF
Five prefectures in Japan's Chugoku region to douse selected streetlights (article in Japanese)
In cooperation with police, the Chugoku Regional Development Bureau has chosen streetlights in five prefectures deemed nonessential, and will either shorten their usage hours or douse them completely. Authorities expect to conserve about 210 kW per hour, or enough for about 500 homes. In my region, which is served by TEPCO, many streetlights and tunnel lights are out already. -- RF
If Hamaoka is potentially deadly, what about all the other nuclear reactors?
Tsunami salinity will plague farmland for years

## China ##
Fang Binxing, China's Internet Firewall Designer, Hit By Shoe

## UK ##
Pothole repairs 'could cost £13bn' says Labour
Royal Navy ends Operation Telic mission in Iraq

## US ##
Boston terror drills
Consumer Spending Probably Cooled as U.S. Food, Fuel Prices Bring Cutbacks
Strapped states trying to trim jobless benefits
Foreclosure limbo costing cities (Illinois)
Gold, silver coins to be legal currency in Utah

And finally... The economic forces behind the rising cost of beer

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