Friday, May 27, 2011


News Links, May 28, 2011

## Global economic meltdown/dollar dump ##
Past Peak Oil - Why Time Is Now Short (Chris Martenson)
Welcome To Hyperinflation Hell: Following Currency Devaluation, Belarus Economy Implodes, Sets Blueprint For Developed World Future (Zero Hedge)
IMF may block aid payments to Greece, Juncker warns
Greek leaders fail to agree as IMF deadline looms
G8 pledges financial help for Arab Spring nations
Ivory Coast says needs 15-20 billion euros recovery funds
Serbia may ask IMF for 1 bln euros: IMF official
Japan's nuclear troubles extend into Russia
"The Russian used auto industry relies on used car shipments from Japanese companies that have dried up since the March earthquake and problems at the Fukushima plant."
In India, Bad Loans Rising
Fitch cuts outlook on Japan sovereign debt
EU to decouple energy from growth
"The European community needs to find ways to decouple economic growth from the rate of resource consumption to advance a green economy, an official said."
Last-ditch effort to keep the Ponzi scheme afloat. -- RF
Deficit Solution Unlikely Soon, Putting Dollar at Risk: Gross
Second Biggest Weekly Drop Ever In Treasurys Held In The Fed's Custodial Account As Foreigners Dump
IMF sees MENA region needing $160bn over three years

## Fault lines/flashpoints/military ##
Clinton in Pakistan, presses for more to quash
Israel struggles to stop weapons smuggling at sea
"Israel's navy is casting its net wider and deeper in an effort to stop Gaza militants from receiving weapons by sea, a difficult mission made harder, Israel says, by political turmoil in Egypt and the Egyptian decision to fully reopen its border crossing with Gaza."
East Libyans spend dwindling savings on bare basics
In Shift, Russia Offers to Help Ease Qaddafi Out in Libya
Israel wants to fast-track F-35 training
EU struggles to set one asylum policy
Yemen president launches air strikes as rebels advance towards Sana'a
Do the China-Pakistan pipeline shuffle
"From the Gwadar port complex to fighter jet sales, strained relations between the US and Pakistan are benefiting China."

## Global unrest ##
Latest developments in Arab world's unrest (AP)
In New Tack, Syrians Protest at Night to Elude Forces
Unrest chills investment in Syria, economy falters
Egyptian activists seek a 'Second Revolution'
Anti-military protest fills Egypt square
Greece: Police clash with doctors over health cuts
Anti-mining protest escalates in southern Peru
"Hundreds of demonstrators mobbed government buildings and burned police cars in southeastern Peru on Thursday as a protest against mining firms intensified 10 days before a presidential election."
China explosions expose raw nerve of forced demolitions
Unable to stop land grab, Chinese farmer set self afire

## Energy/resources ##
Global Tire Demand Exceeding Supply Helps Bridgestone, Goodyear, Sumitomo
"Rubber prices climbed 41 percent in the past year and reached a record in February after auto sales in China surged 32 percent in 2010 to an all-time high."
Johannesburg Announces Schedule for Possible Winter Outages, Citizen Says
"Johannesburg has set up a rolling power-blackout schedule in case electricity demand exceeds supply during winter, The Citizen reported, citing Louis Pieterse, City Power's director of engineering operations."
German Steel Industry Warns Of Rising Costs In Move to Renewable Energy
"Germany's steel industry said it fears costs for electricity could at least double to 400 million euros annually as the country seeks to move toward renewable sources of energy."
Ford Raises Car Prices—Again
"The latest increase, like the previous two, is due to Ford having to keep up with higher commodity prices."
Obama Orders 100% Alternative Fuels in Government by 2015
Biofuels will never fill the bill because they're too expensive. See following article. -- RF
Air Force Says Biomass-Based Jet Fuel is 10 Times the Cost of JP-8

## Got food? ##
Analysis: Bidding War Heats Up For Low U.S. Corn Supplies (Reuters)
"A bidding war is heating up among users of corn in the United States as livestock feeders and ethanol makers scramble to lock in supplies before extremely low stocks run dry by this summer.
"And it could escalate even more with any delay in harvesting the crop in the flood-ravaged U.S. South, or if China steps into the market to buy the grain held over from last year's harvest, as persistently rumored."
'Alarming' Increases Seen in Food Prices -- How much more can consumers stomach?
Gel-Suspended Mushrooms Could Save Us From Starvation
Food Prices Rise on Higher Wholesale Costs
China's Interest in Farmland Makes Brazil Nervous
"URUAÇU, Brazil — When the Chinese came looking for more soybeans here last year, they inquired about buying land — lots of it."
An obvious sign of food desperation among China's leadership. -- RF

## Environment/health ##
Brazil Forms "Crisis Counsel" in Response to Dramatic Increase in Amazon Deforestation

## Intelligence/security/internet/systemic breakdown ##
The domino effect of IT failure
Skype Users Experiencing Two Days' Connection Problems

## Japan ##
Greenpeace accuses Tepco of nuke 'deceit'
Fukushima tsunami safety plan: a single page
Tepco Faces 'Massive Problem' Containing Radioactive Water at Fukushima
Fire at another TEPCO nuclear plant in NE Japan
Typhoon Strengthens, May Hit Fukushima Nuke Plant
Japan beats deflation for the first time in two years
This sounds like a good thing, but substantial food and fuel inflation could be the coup de grâce. -- RF
Japan Grows Leery of Luxury
Tokyo-Osaka maglev gets state OK
This represents the last throes of the dying industrial system, a waste of money and energy that could be put to far better uses. Needless to say there will be massive cost overruns, and the project will never be completed. And how do they intend to feed the prodigious power consumption of this monster? These are times when countries around the world, including Japan, face crippling power shortages. -- RF
Construction orders in April rise 45% on repair demand
There will be heavy reliance on construction in a desperate bid to keep the economy going. -- RF
8 Automakers' Domestic Output Fell Record 60% For April
Output fall at Toyota the biggest in 35 years
Sony TV woes spell more red ink ahead
Marine debris hampers fishing
Firms trying hard to cut electricity use
Cleaning Up Japan's Radioactive Mess with Blue Goo
Of course there is still the problem of where to dispose of the contaminated goo. -- RF

## China ##
Copper Premiums in China Advance to Seven-Month High as Demand Recovers
Analysis: Power crisis may force China to face inflation demons (Reuters)
"Confronting a huge and growing power crisis, China faces a painful choice: either allow a summer of blackouts or swallow a dose of inflation."
China reels under severe drought and power shortage
No electricity crisis in China: CEC
Just deny the problem. -- RF
Chinese airlines continue to hike jet fuel surcharge
Reservoir running low as Three Gorges Dam irrigates drought areas
China bad-loan surge coming: S&P

## UK ##
Bank of England's Spencer Dale warns of hard times

## US ##
Some Regions Of US Completely Abandoned
MUST READ. Such a short article, but the implications are enormous. Here we can actually see how the United States is beginning to fall apart. These are the first regions where economic depression will evolve into chaos and lawlessness. And it will happen in other countries, too, as energy becomes too expensive to hold them together. -- RF
Supreme Court upholds Arizona law designed to thwart illegal workers
Michigan changes fracking laws
Weak spending, flat wages may dampen recovery
Soggy Northern Plains braces for 2nd slug of water
Where Do You Fall on the Income Curve?
Georgia Farmers Say Immigration Law Keeps Workers Away
Gas tanks are draining family budgets
"The Risks Are Enormous": Why Morgenson and Rosner Are So Worried
"We have even more 'too big to fail' institutions; more politically interconnected, very deep and wide institutions that could create another systemic event."
Housing Apocalypse Tomorrow – 675,000 homes in foreclosure have made no payment in over two years. The never ending pipeline of troubled real estate. (Dr. Housing Bubble)
Pending Home Sales Plunge 11.6%
Two Men Caught Dismantling Manteca Railroad Tracks Hoping To Cash In On Metal
D.C. copper thieves may be posing as road crews

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