Sunday, May 29, 2011


News Links, May 30, 2011

## Global economic meltdown/dollar dump ##
UAE mulls plan to buy Chinese currency
"The UAE Central Bank has held talks about buying Chinese assets as it mulls diversifying some of its foreign exchange reserves away from the US dollar."
IMF says reports on Greece missing fiscal targets untrue
Ireland May Need Another Loan From EU/IMF: Official
Europe Goes From Worse To Horrible: Ireland Broker Than Expected, Greece Mulls Splitting Up Into "Good" And "Bad" Greece
Tunisia needs $125 bln in funding over 5 yrs-report
"Tunisia's government said it needs $125 billion in funding over the next five years to finance a massive economic programme aimed at boosting growth and cutting unemployment, state-run news agency TAP said on Sunday."
A G8 Promise To The Middle East Already Broken

## Fault lines/flashpoints/military ##
Power cuts increase hardship in Libyan rebel mountains
Syria: Restive towns 'surrounded' by tanks
North Korea naval base nearly complete
"North Korea is close to completing a giant naval base near its sea border with South Korea, a government source told Yonhap Sunday."
Mexico Detains Nearly 50 Members Of La Familia And Zetas Drug Cartels
Afghan leader Karzai issues 'last warning' to Nato
Afghan police chief attack planned abroad: government
" Afghan leaders on Sunday appeared to accuse Pakistan of harboring insurgents behind a suicide bombing that killed one of the most powerful men in northern Afghanistan."
Shift in Taliban tactics alarms Afghanistan government
Japan military readies overseas base in Djibouti / 1st outpost abroad to help fight piracy

## Global unrest ##
Saudi Arabia Scrambles to Limit Region's Upheaval (NYT)
Latest developments in Arab political unrest stretching from North Africa to the Persian Gulf
S.Leone cuts fuel, rice prices to avoid protests
China Clamps Down in Bid to Halt Mongolian Protests
Blast at bus company kills 1 in central China
Greeks vent anger at entire political class
"Tens of thousands of Greeks vented their anger at the nation's political classes in Athens on Sunday, staging the biggest in a week of protests as the government seeks backing for yet more austerity."
Morocco police use truncheons to break up protest
"Police used truncheons to break up an anti-government protest in Morocco's commercial capital, Casablanca, Sunday and dozens of people were injured, Organizers said."
Yemen Unrest Spreads South
Israel braces for border clashes in coming days

## Energy/resources ##
Arab oil faces higher 'break-even' price
"A sharp rise in domestic government spending by Saudi Arabia and other key Arab oil exporters threatens to upset the mutually beneficial relationship they've kept for decades with energy consumers worldwide."
Tamping down unrest costs a lot of money. -- RF
US oil industry leads the way in extracting hard-to-get crude; steel to benefit
Oh, brother. -- RF
Consumer Corner: What's the real answer to replacing oil? (UPI)
"The darlings of the alternative energy debate long have been wind, solar and biofuels. But how practical is it to replace oil consumption?
"Scientist/futurist Chris Martenson says it's not. In 'The Crash Course: The Unsustainable Future of Our Economy, Energy, and Environment,' alternative fuels -- even some combination of all forms -- cannot replace world oil consumption -- 30.8 billion barrels in 2009."
Wind farms: Britain is 'running out of wind'
"Meteorologists believe that changes to the Atlantic jet stream could alter the pattern of winds over the next 40 years and leave much of the nation's growing army of power-generating turbines becalmed."
Grid access has become a nightmare for Inner Mongolia's burgeoning wind energy industry
Who turned out the lights in China?
Ice melt to close off Arctic's interior riches: study
Phantom Efficiencies: US Economy Still Running Very Slow (Gregor Macdonald)
"The US economy has derived phantom 'efficiencies' by plugging into cheap global labor – not cheap global energy."
Airline fuel bills today are anything but peanuts
"U.S. airlines burn an average of 22 gallons of fuel for every 1,000 miles each passenger flies. At $3.03 a gallon, airlines are currently spending $330 per passenger just on fuel for a 4,950-mile transcontinental round-trip."
New private power projects in India may not get domestic coal
Companies look for power way, way up in the sky

## Environment/health ##
German E. coli outbreak serious, European experts say

## Intelligence/security/internet/systemic breakdown ##
Lockheed-Martin Attack Signals New Era of Cyber Espionage (PC World)
Vladimir Putin hints at Dominique Strauss-Kahn conspiracy
"Vladimir Putin, the Russian prime minister, has hinted that Dominique Strauss-Kahn may be the victim of a conspiracy to force him from the head of the IMF."
Homeland-Security Business Still Booming Ten Years Later
Because it has a lot more to do with business than with security. -- RF
Terrorist 'pre-crime' detector field tested in United States

## Japan ##
Who would save Japan in a sovereign debt crisis?
Japan's dairy industry recovering, but challenges remain
Tokyo gov't adopts 'daylight savings time' in summer energy savings plan
Cooling interrupted at Fukushima No. 5
Pump failure nearly brings No. 5 to a boil
TEPCO believes stabilizing reactors by year-end impossible
Japan Fears Investment Outflows in Quake's Aftermath (WSJ)
"Even before the disaster, Tokyo had lost the hotly contested race to become Asia's financial center, with bankers migrating at a rapid clip to both Hong Kong and Singapore. Global giants such as Procter & Gamble Co. have farmed out certain divisions from Japan to Singapore over the years. This type of movement—given Japan's weak economic outlook and its shrinking population—is likely to continue."

## China ##
China's restive Inner Mongolia tense after demos
Three Gorges Dam: no more water to give
Two fresh water lakes shrink drastically
China Steel's Demand May Rise as Much 25% by 2015, Producers' Group Says
Chinese inflation likely above 5% in May

## UK ##
Long-term unemployment hits high - IPPR think tank
Bleak years ahead for Britain: BoE chief economist

## US ##
Michigan's Upper Peninsula struggles to survive
Sacramento, Roseville cops tell of brazen metal thefts
Flash Mobs Aren't Just For Fun Anymore
Flash mob business theft rising with new attack in New York City
Flash mob violence and robberies are just another sign of impending chaos and lawlessness. -- RF
Trucker disappears with $400K in crab meat
"A truck carrying $400,000 worth of Russian king crab from Los Angeles to Seattle has disappeared, apparently the work of an organized crime ring, police said."
Mysterious fund allows Congress to spend freely, despite earmark ban
Stock investors brace for next round of weak data

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