Friday, May 06, 2011

 

News Links, May 7, 2011

## Global economic meltdown ##
Greece Considers Exit from Euro Zone
"The debt crisis in Greece has taken on a dramatic new twist. Sources with information about the government's actions have informed SPIEGEL ONLINE that Athens is considering withdrawing from the euro zone. The common currency area's finance ministers and representatives of the European Commission are holding a secret crisis meeting in Luxembourg on Friday night."
Greek Aid Program Needs a 'Further Adjustment,' Juncker Says After Meeting
Greek Finance Ministry says report of Eurozone exit is 'completely untrue'
JPM Reports Global Economic Growth Slowest Since August 2009
Ten reasons for thinking the world economy is turning soft
"Evidence of a sharp slowdown in both the European and world economies continues to mount."
Bill Gross Says US Economic Growth Is Insufficient to Sustain Jobs
'Flash crash' worries go global
'The UK Will Need a Bailout Soon': Jim Rogers
RBS First Quarter Earnings Hit by Irish Bad Debts
Steelmakers Pump Up Volume

## Fault lines/flashpoints/military ##
Turkey's Middle East drive falters in 'Arab Spring'
Syrian army braced for 'day of defiance'
Uganda: The food and fuel crisis behind the unrest
Report: Israel acquiring another submarine
Iran's supreme leader tells Ahmadinejad: accept minister or quit
Singapore elections marked by online buzz of discontent
Whoa! Looks like the Arab Spring has spread to Singapore. Growing income disparity isn't helping the situation, either. -- RF
Tunisian police battle anti-government protesters

## Energy/resources ##
A Look at the Serious Energy Shortages in India and Pakistan
OPEC unlikely to debate quota hike at June meeting
Brazil miner Vale expects China build-out to continue
Kenya: Petrol Shortage May Last Seven Days
Acute fuel shortage makes situation much worse in Yemen
Coal shortage may trip 42000 MW of new power projects in India
Aviation: Melboure airport's power blackout
Oil Prices Will Top Highs After Correction: Goldman
Spain May Soften 2020 Renewable Energy Goal as Electricity Subsidies Grow
Demand, not speculation, cited by IEA for rising oil prices

## Got food? ##
Africa urged to ban food production for bio fuel
Hard times mean Cuban coffee tastes of peas again
Some people will make fun of this, but in the future we'll be lucky to have coffee at all. -- RF
Food Inflation Still a Worry Despite Commodities Rout
Water shortages threaten food future in the Middle East

## Environment/health ##
Fears grow as flooding worsens in multiple US states
Drug makers seeking global guinea pigs
US Energy Dept. seeks fracking guidelines
Radioactive Water Pumped Into Mississippi River

## Intelligence/security/internet/systemic breakdown ##
Ghosts of September 11th
The Agendas Behind The Bin Laden News Event
Obama to Navy SEALs Who Raided Bin Laden: 'Job Well Done' (Fox News)
Remember "Mission Accomplished"? -- RF
Osama bin Laden dead: bin Laden was masterminding fresh atrocities from compound
Not to give would-be terrorists any ideas, but if they really wanted to cause mass destruction and death, there are many easy ways to accomplish it in modern industrial societies, and probably without even getting caught. No one but a complete idiot would need a "mastermind" in some faraway hideout to hatch complex and difficult-to-execute plots. So these stories about AQ operatives sitting around and waiting for UBL to send them instructions should be taken with at most a grain of salt. -- RF
Terrorism and Political/Civil Unrest Top List of Business Travel Concerns
Domestic Surveillance Court Approved All 1,506 Warrant Applications in 2010 (US)

## Japan ##
Prime minister orders 3 reactors at Hamaoka halted out of safety concerns
This is big news. Japan's anti-nuclear community has for many years been calling for the closure of this plant. -- RF
Toyota's new vehicles sales in China dive 23.5% in April
66 firms go bust in aftermath of massive quake
Tepco starts flooding No. 1 reactor vessel
New TEPCO reactor cooling system running by late May

## China ##
Majority of Chinese still cannot afford home
China fines Unilever for talking about price rises
A Deep Dive Into China's Growing Lust For Luxury Goods
China cities face power shortages
"Many cities in southern China have been experiencing the worst power shortage in seven years. The blackout debacle began in March, just ahead of peak time."

## UK ##
U.K. Producer Prices Increased More Than Forecast in April

## US ##
Whitney Defends Her Prediction of 'Hundreds of Billions' in Muni Defaults
Report: Nearly Half Of Detroiters Can't Read
Restaurants Lift Prices as Inflation Hawks See Fed Behind Curve
Nearly 10,000 Lose Power South Of Dayton
Amid job growth, 'total unemployment' rises to 15.9 percent
BLS Jobs Report: Nonfarm Payroll Headline Number Looks Good, Beneath the Surface, Awful
PriceStats - The Beginning Of The End For BLS Data Manipulation?
As People Not In Labor Force Hit New Record, Those Who "Want A Job Now" Jump By 232,000 In One Month
Mississippi River barge traffic stopped due to flooding
Nation's CEOs paid better last year than in 2007
Fannie Mae Seeks $8.5 Billion More From Taxpayers
Home Prices Hit New Post-Crash Lows
Analyst: Data show Las Vegas halfway through housing downturn
Foreclosure Hits Las Vegas's High End
Strategic defaults could get very ugly
Delta Air Offers Buyouts to Trim Jobs Amid 4% Capacity Cut
U.S. Consumer Credit Rose $6 Billion in March, Fed Says
Credit Card Balances Rise: Are Consumers Stretched?
Florida bank fails; 40 shuttered in 2011




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