Thursday, May 05, 2011


News Links, May 6, 2011

## Global economic meltdown/dollar dump ##
Mongolia Central Bank to Sign Currency Swap Deal With China
Central Banks Expand Gold Reserves With $6 Billion in Purchases
Greek Debt Talks Widen Divisions in the Euro Zone
True Finns Leader: "Greece Will Default As Efforts To Keep Country Afloat Have Failed"
Why Europe Should Accept the Possibility of Default
Singapore's Fast Growth Creating Rich-Poor Divide?
Portugal Says Economy to Shrink Twice as Much as Forecast Under Added Cuts
Asia Inflation Fight Spreads on Philippines, Malaysia Rate Moves
Commodities Decline the Most in Two Years on Concern Global Growth Slowing
If They're Not Sinking, Why Are They Bailing?
European Growth Dynamo Getting Dim - March German Manufacturing Orders Plunge, Kill Any Possibility Of ECB Rate Hike
Middle East office rents no longer among world's priciest due to glut

## Fault lines/flashpoints/military ##
With Bin Laden Dead, Growing Calls for Afghanistan Pullout
Osama bin Laden dead: Pakistan to reduce American troops to 'minimum essential'
China boosts foreign investment in Latin America
686,000 Libya refugees flee to Egypt, Tunisia
Qaddafi's Cash Hoard Will Be Made Available to Libyan Rebels, Clinton Says

## Energy/resources ##
Iraq halves oil output target as reality replaces ambition
"Confirmation that it has scrapped the old target will add to fears that global supply will be unable to keep pace with demand in coming years."
People in the know have been saying from the outset that Iraq can't possibly rebuild and upgrade its crumbling and antiquated oil infrastructure to meet that target. Welcome to reality. -- RF
Residents shiver in blackout (Australia)
Kenyans queue for fuel
World LPG supply dwindles on increased sales to Japan
Libya faces fuel crisis as oil supplies dwindle
Russia mulls more answers to gas shortages
Russia may curb oil if gasoline prices stay high
Oil Price Controls Are Advocated by UN in Proposal for G-20, OPEC Accord
Brazil's Dedini Developing Equipment to Process Sweet Sorghum Into Ethanol
I'm growing sorghum this year, but you can bet it won't be used to make ethanol. -- RF
Gas Stockpiles Probably Rose Less Than Average on Nuclear Outage (US)
China Coal Imports May Rise as Drought Saps Hydropower, UBS Says

## Got food? ##
World Food Prices Rise to Near-Record High as Inflation Speeds Up, UN Says
Prince Charles tells America to cut down on steaks ... for the sake of the world
Food prices driven up by global warming, study shows
France's Second-Hottest April in Century Desiccates Farm Fields
"European wheat and rapeseed are at an "important tipping point" because stored soil moisture from the winter has been used up, Martell said. Dry weather in Germany and England's hottest April are also threatening grain crops across the European Union, producer of a fifth of the world's wheat."
WFP sees viable role for strategic food stocks

## Environment/health ##
Food for thought: How energy is squandered in food industry (US)
"From the diesel fuel tractors that harvest our crops, to the refrigerated trucks that transport products cross-country, to the labor-saving technology found in the home such as toasters and self-cleaning ovens, the U.S. food system is about as energy inefficient as it gets. And it's only getting worse."
UN raises alarm on rapid world population growth
'Grave situation' threatens coastal areas
"China's fragile coastal ecosystems are severely threatened by human activities, and pollution and environmental degradation have created a "grave situation", according to a report released by the State Oceanic Administration."

## Intelligence/security/internet/systemic breakdown ##
Obama's "Big Lie": White House Propaganda and the "Death" of Osama bin Laden
Judicial Watch may sue to get dead bin Laden photos
Give it a rest. -- RF
Air conditioning failure brings bank's IT down (Australia)

## Japan ##
Japan Needs 8 More LNG Cargoes a Month After Reactor Shutdowns, FACTS Says
50% of surveyed firms hit hard by disaster / Companies describe effects of supply chain disruptions, plans to handle likely power shortages
Workers enter No. 1 reactor building for first time since explosion
JAL cuts flight frequency on domestic routes to maintain profitability
Dollar falls below ¥80
1st quake budget passed, on to 2nd / Rebuilding to get 4 tril. yen boost; finding funds for next, bigger outlay to be tough
Govt may OK hikes in power rates

## China ##
Ponzi Financing Involving Copper Trade Gone Wild In China
Ministry Of Railways Lost 3.76 Billion In Q1, Debt Reached 2 Trillion
Hong Kong Property Deals Plunge
China becomes world's second-largest luxury goods consumer
Prolonged dry season threatens navigation on Yangtze River, warns officials

## UK ##
Many orchards in neglected state, aerial study finds
Derry fire crews attacked with bricks and bottles

## US ##
And Now Back To Reality, And $2 Billion Dollars Closer To A Debt Ceiling Breach
How the Fed made the rich richer
U.S. TV ownership down for first time in 20 years
Rental car gas prices hit more than $9 a gallon
Americans go from rage to resignation over $4 gasoline
Gas prices eat up $368 a month of your income
Demand for gasoline in US continues to decline
Mapping out hunger
Mileage-based tax under consideration
Number of people living under one roof up
Consumer Confidence Falls as Fuel Costs Increase
New Jersey to throw more money at long-stalled megamall
Americans Are Leaning On Government Support More Than Ever
Number of millionaires is projected to rise rapidly
Seeds of the Second American Revolution. -- RF
New claims for unemployment aid rise unexpectedly
Rise in layoffs, gas prices cloud hiring outlook
The rise of the permanently temporary worker
Sleepwalking through America's Unemployment Crisis (Mohamed A. El-Erian0
The Jobless Claims Get Ugly, Foreshadowing Gloomy Unemployment Data

And finally... Ahmadinejad Allies Charged With Sorcery

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