Tuesday, June 14, 2011


News Links, June 15, 2011

## Global economic meltdown ##
Canada Post Strike: Toronto, Montreal Next As 15,000 Workers Walk Out In Canada's Biggest Cities
Jim Rogers tells India press US should be downgraded
Which is worse, China or US debt problem?
India inflation 9.06 percent in May
Gold to Reach $5,000 Due to Supply Shortage: Report
Chile Raises Key Interest Rate to 5.25%, Slowing Pace on Economy, Prices
FinSys Update: China Govt Could Cont Hiking Int Rates - Source
The end of consumerism?
Air Arabia delays Jordan plans amid unrest, fuel prices
The Eurozone Heads for Break Up (Nouriel Roubini)
You're late to the party, Nouriel, but welcome anyway. -- RF
Daily Austerity Watch: Belarus — The Next Bailed Out European Country

## Fault lines/flashpoints/military ##
Iraqi government compound stormed
Nervous Iraqis buying more assault rifles, pistols
Vietnam bolsters military stance amid China marine row
"Vietnam's Prime Minister Nguyen Tan Dung has issued a decree about a potential military call-up, amid rising tension with China."
CIA Plans Yemen Drone Strikes
Peru's next president urges vigilantes to fight drug trafficking
Syrian forces fan out to quash anti-regime protests
USS Monterey's Black Sea arrival raises Russia's hackles
China pushes rail links into southeast Asia: Is Laos aboard?
China Warns Against Meddling in Sea Disputes
Refugees flee Myanmar clashes near Chinese border
"Myanmar's military has clashed for several days with a militia controlled by the country's ethnic Kachin minority in a remote but strategic region where China is building hydropower plants, various sources said on Tuesday."

## Global unrest ##
Latest developments in Arab world's unrest
China unrest roundup: Riots and arrests in Guangdong, bombings, and Hubei protest updates
Chinese Police Restore Order to Restive Town
"The deployment of thousands of riot police armed with tear gas and shotguns appeared to have restored order to this southern Chinese town after days of severe rioting, but both migrant workers and a government think tank warned unrest could flare again if leaders fail to address migrants' concerns."
Youths throw stones at Jordan police as King Abdullah visits
Unrest pushes Yemen to brink of humanitarian disaster
Opponents of Greek austerity plan set strike
"Protesters said they would surround the Greek parliament on Wednesday to prevent debate, putting new pressure on the government to drop its austerity plan, and two ruling party lawmakers said they would vote against the measures."
Greek Ruling Party Members Rebel: Another MP To Vote Against Bailout So "He Can Safely Walk The Streets"
Gaza unemployment levels 'among worst in world'
Iraq's Maliki eyes downsizing government, risks protest
"Iraqi Prime Minister Nuri Al-Maliki plans to cut ministries and streamline his government to try to meet protesters' demands to improve efficiency and basic services, officials and lawmakers said."
Belarus unrest will be suppressed, says Lukashenko

## Energy/resources ##
Wind turbines switched off on 38 days every year (UK)
Coal accounts for 30pct of energy consumption - BP
Nigeria may lose 150,000bpd crude oil as Shell declares force majeure
China Preps Huge Oil Platform for Deployment in South China Sea
Sinopec halts oil output in Argentina due protests
The Oil Production Story: Pre- and Post-Peak Nations
Cost overruns common on oil projects -Schlumberger
"'And while not wishing to embarrass any of my customers, I would add that many greenfield projects suffer significant cost overruns,' Gould said. 'Indeed, as a general rule 30 percent of such projects experience budget overruns of 50 percent.'"
Badri: Oil prices could jump on shortages
"Oil prices will rise and could harm the economy if an expected supply shortage materialises later this year, Opec Secretary-General Abdullah al-Badri said today."
Shell focuses on U.S. Gulf
"A deepwater well can cost anywhere between $100 million and $130 million, whether or not it finds oil."
Hydro-electricity projects set to balloon in Latin America

## Got food? ##
Wetness To Push Manitoba Unplanted Acres To Record
"Manitoba farmers will likely beat the [2005] record handily and leave more than 4 million acres, or 40 percent of cropland, unplanted."
In India's grain bowl, farms face threat from job program

## Environment/health ##
Dry Southwest slurps up surging water supply (US)
Unfortunately, water is the least of the Southwest's problems. -- RF
Water shortages in the US West: 'You ain't seen nothing yet'

## Intelligence/security/internet/systemic breakdown ##
Data thieves form digital underground
Power outage delays 300 US Airways flights
"A power outage that lasted about 30 seconds on Friday delayed about 300 US Airways flights that afternoon and evening, the airline's chief operating officer said Monday."

## Japan ##
Tokyo Electric bailout plan approved by cabinet
Japanese Nuclear Cleanup Workers Detail Lax Safety Practices at Plant
Tepco Decontamination to Produce Radioactive Sludge Crisis
TEPCO eyes 16 % rate hike in fiscal 2012 to cover compensation claims
Additional 23 workers exposed to high radiation
Green tea made by 5 Shizuoka plants contaminated with radiation
Cesium detected in two whales caught off Hokkaido
Japan to retain nuclear power as main energy source: Kaieda
Local officials saying no to restarting nuclear reactors
Shareholders demand abolition of nuclear plants
BoJ Creates New Credit Line for Growth Sectors
"The Bank of Japan expanded a loan scheme for growth industries on Tuesday by setting up a new credit line targeting asset-based lending, in an effort to battle chronic ills plaguing the economy long before it was hit by the devastating earthquake in March."
Strongbox Sales Soar in Japan as Demand for Cash Risks Stunting Recovery
Everyone knows it's a good idea to have a strong cash position. -- RF
Automakers face steep hike in domestic steel prices
Honda Projects 63% Drop In FY11 Net Profit
No. of welfare recipients tops 2 mil
"The number of welfare recipients in Japan as of March totaled 2,022,333, close to the record-high mark of 2.04 million seen in the aftermath of World War II, the Health, Labor and Welfare Ministry said Tuesday."
Fukushima farmer kills self over N-plant
"A cattle farmer in Soma, Fukushima Prefecture, who hanged himself left an apparent suicide message that read, "I wish there wasn't a nuclear plant [in this area]," it has been learned."

## China ##
Inflation Accelerates in China: CPI +5.5%, Food +11.7%, PPI +6.8%, Fixed Asset Investment +25.4%; Peak Oil Will Slow China
China ups bank reserves ratio as inflation hits 34-month high
China floods, landslides force 55,000 to flee: report
China Coal and The Great Doubling
Rapidly Increasing Chinese Oil Demand

## UK ##
Weekly bin collection return 'to be dropped'
Middle-class pensioners hit harder by rising prices

## US ##
Medicare, other entitlements mean US worse off than Greece
Cost of Construction Material Plagues Contractors in May; Prices Remain Flat
"Latest Producer Price Index figures show contractors paying More for gypsum, asphalt, aluminum, plastics and steel; costs they can't pass on amid stagnant demand for construction."
Video-Game Sales Crashed and Burned in May
Minnesota prepares for shutdown
Time to pitch your tent ... in New York City? US touts urban camping plan.
This sounds like a good way to clear the way for the development of tent cities in a more government-controlled manner. -- RF
US Housing Crisis Is Now Worse Than Great Depression
Priced In Gold, The Median Home Price Is Down 80% In The Past Decade
Power Outage Caused By Copper Theft, Says AEP

And finally... Doomsday bunkers for under $10,000!

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