Monday, January 31, 2011

 

News Links, February 1, 2011

-- Global economic meltdown --
China Central Bank Advisor Urges Increase In Official Gold And Silver Reserves
Gold Bar Premiums At 17-Year High In Hong Kong
Egypt May Risk Bank Run as Uprising Against Mubarak Regime Hits Economy
Step Aside Egypt CDS.... Here Come The Saudi Contagion Vigilantes
Euro-Region Inflation Jumps More Than Estimated to Two-Year High of 2.4%
Some BRICs Are Crumbling
Support grows for lengthening Greek debt payback
As Germany rises, Europeans begin to rethink their unity project
Kabul Bank losses spark fears of huge Afghan corruption and financial crisis
"Losses at Afghanistan's largest bank due to a spree of bad loans to government cronies could be three times higher than originally feared and finally total £580 million."
Here Comes The Greek Brady Plan Together With 35% Bond Haircuts
Japan's Net Assets Decline 2nd Year Running
Kuwait December inflation at 2-year high, food costs soar

-- Egypt --
Egyptian financial crisis looms
"Economists are warning that if Egypt's turmoil continues much longer, the country will not have enough currency reserves to avoid a long term financial crisis. Currency traders said on Monday that investors have transferred hundreds of millions of dollars out of the country since the start of the protests six days ago."
Lawlessness Could Hijack Egypt's Popular Uprising
'Mega protest' planned in Egypt
"Opposition movement calls for one "million people demonstration" on Tuesday in a bid to topple president Hosni Mubarak."
Egypt's army says it won't open fire on 'our great people'
Did Egypt's Army Just Throw Mubarak Under The Bus?
Egypt protests: Did Jimmy Carter just throw Obama under the bus?
Mubarak said to be on brink of giving up
Egypt businesses hit by instability
"Food shortages reported and businesses remain shuttered as 16-hour curfew and protests continue."
Egypt Rapidly Running Out Of Food
Mobile Phone Service Restored in Egypt -- for Now

-- Fault lines/flashpoints/military --
Is Qaddafi of Libya now getting worried?
Libya Bans Soccer Matches in Fear of Anti-Government Protests
Arab Elite Say Monarchies Are Safe From Unrest
US, Europe fear Arab revolt 'contagion': analysts
Egypt is the next Tunisia. What is the next Egypt? (Forbes)
According to this writer, it could well be China. And there are plenty of reasons why. -- RF
U.N. told North Korea has more secret atomic sites: envoys
Syria's Assad says no extra access to nuclear inspectors
Russians protest against Vladimir Putin
More protests in Yemen's south
As China grows more assertive, U.S., Japan push back

-- Energy/resources --
Brent crude oil price hits $100 a barrel
After food protests, water riots are next
Instability in Algeria could have serious energy implications for Europe
Crude Oil Spikes on Egypt's Geopolitical Premium
China's CNOOC inks U.S. shale gas deal
Global coal price heading for big hike over flood
Compact Fluorescent Lamps Burn Out Faster Than Expected
Japan Dec oil imports rise to 126.81 million barrels

-- Got food? --
Never mind banks in crisis, food prices are our real worry (Ireland)
Rice Rebounds From Two-Year Drop as U.S. Crop Shrinks
How food prices can fuel revolutions like Egypt's
Egypt and Tunisia usher in the new era of global food revolutions

-- Environment/health --
Light pollution disrupting sleep and wildlife, says rural body
Blackouts won't be all bad. -- RF
Colossal U.S. storm to pound 100M people

-- Intelligence/security/internet/systemic breakdown --
Razor blades and the limits of complexity
Piracy Rules the Web, Dominating 23.8% of Internet Traffic
CIA Views China's "Student Informant System"

-- China --
2.79 m people suffer from drought in China
Auto rentals accelerate into fast lane
Underground world hints at China's coming crisis
China central bank stresses price controls

-- UK --
Hundreds have died of dehydration in care homes

-- US --
Food-cost shocks ripple worldwide from Iowa
Church foreclosures: The Lord giveth and the bank taketh away
Buses fastest-growing form of intercity travel
U.S. Corporate Profits Surge
Oil Price Could Doom Obama
More college grads joining military
The Propaganda Blitzkrieg Begins (on whom to believe concerning the economy)
PopCon: The 'Economic Recovery' Lie
Cuomo calls New York budget process a "sham"
"New York Governor Andrew Cuomo called the state's budget process a 'sham' that leads to runaway spending, saying it resembles some of the deceptive practices he uncovered on Wall Street."
More home owners paying down debt
Nearly 11 Percent of US Houses Empty
One in Five Mortgages Default Again After Modification
"Flip That Bond" Continues: Primary Dealers Offload 26% Of Just Acquired 3 Year Auction Back To Fed
Savings Rate Drop To 5.3%, Lowest In 10 Months


Sunday, January 30, 2011

 

News Links, January 31, 2011

-- Global economic meltdown --
Egyptian Unrest Has Repercussions in Global Economy
Saudi needs 5 million more jobs by 2030 - labour minister
Saudi exchange tumbles on Egypt protests
European Union talks on Greek debt as IMF flies in
"There is growing concern that the eurozone's weakest state will be unable to end its worst crisis in decades, without a sovereign default. Plans to buy back Greek debt at a discount – a scenario that economists call restructuring by stealth – are being given 'urgent consideration,' bankers and EU officials say."
China central bank says Fed easing ineffective and dangerous
Chinese Banks on the Prowl in Europe
China Opens a Door on Currency Swaps
"China will allow banks to trade currency swaps for corporate clients starting March 1, extending the use of the financial derivative beyond the interbank market."

-- Fault lines/flashpoints/military --
Poverty and joblessness fueling Mideast unrest
Tunisian leader returns from exile
"Rachid Ghannouchi, leader of the previously banned al-Nahda party, returns home after 21 years in the UK."
Will Obama 'lose' Saudi Arabia?
Buildings burn, death toll mounts in central Nigeria
"Youths dragged people from their cars and murdered them at illegal roadblocks in central Nigeria over the weekend, while rioters burned fuel stations and homes in the latest clashes between Christian and Muslim gangs."
Sudan police clash with protesters
"Anti-government demonstrators in Khartoum faced riot police in protests inspired by those in Egypt and Tunisia."
Thousands in Pakistan rally against American
U.S. report: Iraq's security at risk without aid
"Without more help — and quickly — Iraqi security forces may not be able to protect the fragile nation from insurgents and invaders after American troops leave at the end of the year, according to a U.S. report released Sunday."
Libya Next?

-- Egypt --
Egypt's Military Ramps Up Presence As Thousands Protest In Cairo
Al Jazeera In Cairo Being Shut Down, Press Credentials Revoked: Egypt State TV
Al Jazeera undeterred by Egypt curb
"Will continue its comprehensive coverage of landmark events there, says network chief."
Protests over Egypt's Mubarak spread to US cities
Saudi Arabia Voices Support for Mubarak
Egyptian military delegation at Pentagon for annual meeting
Locals in Sharm-el-Sheikh convinced Mubarak is holed up there
ElBaradei urges U.S. to abandon Mubarak
Mohamed ElBaradei: 'It is total chaos. Mubarak must go'
Security vacuum hits Egypt
"Streets of Cairo are tense as days of protests result in police leaving their posts."
Armed gangs free Muslim militants in Egypt
U.S. making plans to fly Americans out of Egypt
Egypt's Economic Tragedy In 3 Simple Charts
A Frightening Lawlessness Takes Hold In Egypt
Egypt crisis: Looters destroy mummies in Cairo museum
As the world falls into chaos, unfortunately nothing will be sacred. -- RF
Egypt's Muslim Brotherhood eyes unity gov't without Mubarak (Haaretz)

-- Energy/resources --
Egyptian civil strife sends oil close to $100 on Suez Canal fears
Oil ETF Call Trades Soar to Record Amid Egypt Unrest
RPT-US Nov oil imports from Saudi Arabia up 32 pct-EIA

-- Got food? --
Rising Food Prices Can Topple Governments, Too
Should You Eat like a Caveman?
Like the theory of central heating (below), many people will in the near future be trying this new way of life, like it or not -- RF
An era of cheap food may be drawing to a close

-- Environment/health --
Central Heating May Be Making Us Fat
We'll have ample opportunity to test this theory in the near future. -- RF

-- Intelligence/security/internet/systemic breakdown --
Some Egyptians take up arms amid security concerns
Oman says busts UAE spy network, UAE denies role
South Korea set to try captured Somali pirates
The Koreans are wasting their time. Trying and imprisoning a handful of pirates will have zero deterrent effect, especially as poverty, continuing world economic deterioration, worsening security, and increasing opportunity lure even more into piracy. The world had better adjust to the new normal. -- RF

-- China --
Millions face water shortage in China
China to take measures to ensure energy supplies in 2011: NEA
"The government will boost energy production and control consumption."
Just watch. "Control consumption" will mean more fuel shortages and power cuts. -- RF
China Steps Up Web Censorship

-- UK --
Rash of luxury bars opens across London
Are these meant to service the new aristocracy? -- RF
Young and unemployed: a generation scarred for life
Economic indicators: UK inflation

-- US --
Groton Guard detachment is heading to Egypt
"Connecticut National Guard Detachment 2, Company I, 185th Aviation Regiment of Groton has mobilized and will deploy to the Sinai Peninsula, Egypt, to support the Multinational Force and Observers."
Even President Obama Is Watching Al Jazeera
Los Angeles Shows Support for Egypt with Anti-Mubarak Rally at Federal Building
House Speaker Boehner warns against debt default
Budget-Strapped States Might Prefer To Be Bankrupt
NYC Mayor Warns of Mass Teacher Layoffs

And finally...
Banker Jokes
Queen's composer demands clampdown on piped muzak
California's 'Geezer Bandit' strike for the 13th time
Pope suffers dove malfunction
If this isn't a sign of the times, I don't know what is. -- RF


Saturday, January 29, 2011

 

News Links, January 30, 2011

-- Global economic meltdown --
Spanish Unemployment Rises to 20.3% as Austerity Slows Recovery
Spectre of currency war rears its head at Davos
IMF warns of new sovereign debt crisis for largest economies
James Howard Kunstler: Peak Oil and Our Financial Decline (video at The Nation)

-- Fault lines/flashpoints/military --
New protests erupt in Yemen
Ruling party urges talks in Yemen to halt protests
Lobster in the mountains, riots on the Nile
Pro-Democracy Revolutions a Big Problem for US

-- Egypt --
Mad scene in Suez showed the depth of Egypt's anger
What the United States has at stake in Egypt
Egypt protests: America's secret backing for rebel leaders behind uprising
Chaos, Looting Spread as Mubarak Names Key Deputies
Egyptian capital of Cairo engulfed in chaos
Egypt's military in a quandary (Al Jazeera analysis)
Army protecting Egypt protesters from police (video)
Yesterday we saw this story about how police and protesters were fraternizing in Alexandria. Some among the police and military seem to be sympathetic to the protesters. -- RF
Egypt Stock Exchange, Banks to Close Sunday as Mubarak Protests Continue
Mohamed ElBaradei: The Egyptian people have revolted
Report: Egyptian president's son Gamal Mubarak arrives in London

-- Energy/resources --
"Cheap oil made Sweden rich," says Kjell Aleklett
Iraq's largest hydropower dam grinds to halt, aggravating power shortage
Peak Water: What Is it -- and Are We There Yet?
Exxon: Global energy demand to grow by 35%
Why Clean Energy Can't Exist on its Own
This is a point I have made over and over: You can't have renewables without fossil fuels. -- RF

-- Got food? --
Record food prices inflame poor
Tensions rise on surging food prices
China to face food supply pressures
Oil and food prices
Check out the graph. -- RF

-- Environment/health --
Ending Human Pesticide Experiments (US)
Report: Gulf oil spill was deadly time for turtles
Arctic current warmest in 2,000 years

-- Intelligence/security/internet/systemic breakdown --
Internet 'Kill Switch' Legislation Back in Play (US)
Does Obama's 'Net Freedom Agenda' Hurt The U.S.?
Net-less Egypt may face economic doom Monday
Egyptians Connecting To The Internet Via Modem, Fax, Ham Radio
Anonymous: UK arrests are a 'declaration of war'
U.S. And England To Increase Security Of Global Supply Chain

-- China --
Beijing blocks searches for "Egypt" from microblogging site following protests there
Another attempt by Chinese authorities to tamp down discontent and prevent civil unrest. -- RF
Beijing faces longest wait for snow in 60 years
China's Growing Income Gap
"Billions in unreported income for the wealthy and a system that blocks health and pension benefits for migrants mean the income gap is wider than acknowledged."

-- UK --
Save Money On Energy Bills Means No Heating For Many
Shocking. One can only imagine how many people have frozen to death already. -- RF
Dark times ahead as plans to switch off more streetlights revealed
Students and unions stage protests over fees and cuts

-- US --
Medical examiner: Pentagon official died after assault
For Governors, Medicaid Looks Ripe for Slashing
California gov orders fleet reduction
Downsize, downsize, downsize. -- RF
Airlines consider capacity cuts as jet fuel prices soars
Downsize, downsize, downsize. -- RF
Army Will Shed Thousands of Vehicles From Truck Fleet
The Hidden Financial Benefits of Downsizing
There are proven ways to downsize; consider that less can be more
The CBO Smokes Crack (Automatic Earth)
The Bears Explain Banker Bailouts And The Screwing Of The American People (video)
Federal Reserve Balance Sheet Update: Week Of January 26 - $1.129 Trillion In UST Holdings
State budget cuts may mean hundreds of nursing homes close, industry warns (Texas)


Friday, January 28, 2011

 

News Links, January 29, 2011

-- Global economic meltdown --
Japan: Risk of Sovereign Interest Rate Shock – IMF
U.S. and Japan told time running out to deal with debt
The pressure is on, and I can hear the bond vigilantes gunning their engines. -- RF
Greece Discussing Lengthening of EU/IMF Loan: PM
Carlyle deal for Dutch firm would make it world's largest private equity manager
Egyptian Bond Yields Climb to Record High in Worst Week as Protests Spread
Fall of Saudi Arabia to End Dollar Reserve System? (Daily Bell)
Doha Talks Are on Brink, Report Warns
Investors Worry That Mideast Will Be Market's Next Crisis
Stocks Drop Worldwide as Oil, Dollar Surge After Egypt Protests
Europe Considering Extending Greek, Irish Bailout Loan Duration From 3 To 30 Years

-- Fault lines/flashpoints/military --
The Arab Crisis: Food, Energy, Water, Justice
Activists call rare protest in flooded Saudi city
Hundreds detained in Saudi Arabia over protests
Jordanian protesters demand political reforms
Anti-government protest in Albania
Are We Witnessing the Start of a Global Revolution?

-- Egypt --
Egyptian government 'on last legs' says ElBaradei
Curfew in Egypt, house arrest for ElBaradei
Egypt: "Alexandria has no police anymore" says Human Right Watch correspondent
Egypt deploys counterterror police as protests escalate
Egypt unrest rages; web shut ahead of big protest
Egypt Shut Down Its Net With a Series of Phone Calls
Egypt's Internet Shutdown Can't Stop Mass Protests
Suez 'in utter chaos' as police try to regain control
Muslim Brotherhood Arrests Reported As Egypt Protests Continue
Wealthy And Famous Egyptians Flee Country On Board Private Jets

-- Energy/resources --
CNBC anchor implies US must support dictators to keep cheap oil flowing
Pakistan Seeks U.S. Security for Gas Pipeline
"Pakistan has sought U.S. help to ensure security for a proposed 1,680-kilometer-long pipeline that will transport natural gas from Central Asia to South Asia through war-ravaged Afghanistan."
Little Progress Disposing of 34 Metric Tons of Surplus Weapons Grade Plutonium
The Corn Ethanol Boondoggle Continues (Decline of the Empire)
UAE oil minister says market well supplied
OPEC says Saudis not raising output
Global natural gas demand set to soar

-- Got food? --
South Korean foot-and-mouth outbreak worst in 50 years
13 Stunning Facts About The Rise Of Industrial Meat Farming In America
Indonesia to Suspend Food Import Duties
Desperate times call for desperate measures. -- RF
Food hoarding by governments keen to keep prices low is pushing prices higher
Hoarding may be bad from the view of "the market," but it makes good sense to those worried about the state of their pantry. -- RF
Price rises could make juices a 'luxury'
Indian onions travel long, costly road to table

-- Environment/health --
New melt record for Greenland ice sheet

-- Intelligence/security/internet/systemic breakdown --
IBM to Build Asia's Largest Cloud Computing Center
Tunisia Internet Chief Gives Inside Look at Cyber Uprising
Internet Reportedly Down in Syria
Recall this item from two days ago: Internet 'kill switch' bill will return (US)
Egypt's 'Net Shutdown a Wakeup Call for CIOs
Egypt shows how easily Internet can be silenced
Net approaches address exhaustion
How To Get Online After The Government Shuts Down The Internet
Meet the Al Jazeera Correspondents Who Are Putting American Coverage Of The Egypt Crisis To Shame

-- China --
China Said to Plan to Raise Capital Ratio When Credit Excessive
Private gold demand surging in China

-- UK --
UK consumer confidence in 'astonishing' fall

-- US --
Close the public schools—that's the answer to our deficit problems
When perverse arguments like this start making sense, we know that neofeudalism is on the way. -- RF
Money Worries Push 1st-Year College Students' Emotional Health to Low Mark
Amid deficit woes, support for Social Security weakens
Pick Your Poison: The American Drinking Water Quality Crisis
In Arizona, a bid to block citizenship for illegal immigrants' 'anchor babies'
America's Job Problem: We Can't Grow Our Way Out This, Holtz-Eakin Says
Here's another symptom of systemic breakdown. -- RF
A Frightening Satellite Tour Of America's Foreclosure Wastelands
Credit card rates at record highs near 15%


Thursday, January 27, 2011

 

News Links, January 28, 2011

-- Global economic meltdown --
Belgium Faces Wrath of Markets as Its Deadlock Deepens
Some Europe Banks Will Need Bailouts: Rogoff
China Will Face Crisis Within 5 Years, 45% of Investors Say
S&P Cuts Japan Rating As Budget Woes Linger
Moody's warns of possible move on U.S. credit rating
Never Has U.S. Borrowed So Much for So Little: Chart of the Day
"'The fiscal problem is very serious,' Roubini said yesterday. 'The bond vigilantes have not yet woken up in the U.S. in the way they have in the euro zone. Unless the U.S. addresses this fiscal problem, we're going to see a train wreck.'"
25 percent of shoplifters arrested in 2010 were elderly people (Japan)
"While young shoplifters tend to steal items like books, CDs and DVDs with the aim of cashing in on them, many of the elderly shoplift food items, clothes and cosmetic products for their own use due to financial hardships."
Localization: The Film!
What Is A Gold Standard? (Forbes)
"When the goal is stable money values, it is the preferred tool."
Commodities Will 'Make A Fortune': Jim Rogers
The Truth About Davos: It's About Making Money Not Solving the World's Problems
Davos 2011: Nicolas Sarkozy 'will not let euro fail'
Davos Divines `Shared Norms' as Reality Turns Grim on Sarkozy's Influence
"The global elite is failing to find the 'shared norms in the new reality' preached by the World Economic Forum as lopsided growth and income inequalities split the international economy."
Euro's death would be 'cataclysmic'
When will the Commodities and Chinese Real Estate Bubbles Pop?
Quantitative Uneasing: How Fed Policy Ties Into Revolts in Tunisia and Egypt
Baltic Dry Index 187 Away From Triple Digits

-- Fault lines/flashpoints/military --
ElBaradei Set to Join Egypt Protests
Egyptian Stock Market Plunges Over 11% To Fresh Multi-Year Lows; Is A Suez Canal Transit Halt Imminent?
Yemen protests: Thousands call on president to leave
North African Unrest May Spread as Davos Warns on Food Prices
"This protest won't end in north Africa; it will spread in many countries because of high unemployment and increasing food prices."
6,000 Japanese, U.S. troops hold major war games in Kyushu
China patrol ship near Senkaku Islands
Is China taking over the globalization agenda?

-- Energy/resources --
India's huge kerosene black market
The Greatest Threat to Green Energy
On the surprising amounts of rare earth elements needed for hi tech. -- RF
Uranium prices boom, time to invest
Hole-y cow! Guts could lead to holy grail for cheap biofuels
Don't get excited. Although biofuels are promising and useful, they won't be able to prop up industrial civilization. -- RF
Extreme Offshore: The Hunt for Hard to Find Crude
"Brazil's quest for extreme oil may cost as much as US$ 1 trillion. That is a lot of money to invest in a such a risky proposition -- to retrieve oil that is miles deep underwater."
A record WTI-Brent spread, a new paradigm
Oil price gap highlights risks for oilsands: Report
Saudi has no plans to give up right to enrich uranium
The peak oil crisis: British proposal for Tradable Energy Quotas (Tom Whipple)
"The alternative to this, or some sort of allocation scheme, is energy anarchy. As we saw during the energy embargoes 40 years ago, it does not take much of a shortage to throw a motorized nation into turmoil and the economy into a tailspin."

-- Got food? --
Bulls Eat, Bears Eat, and Pigs Go Limit Up!
Grain, Soybeans Rise as Food Riots Spur Demand for U.S. Exports
India Food Prices Stay High
Potash Corp.'s Fourth Quarter Profit More Than Doubles

-- Environment/health --
Study finds oil dispersants lingered deep under Gulf
Russia to build lunar base by 2037
Won't happen. -- RF

-- Intelligence/security/internet/systemic breakdown --
Russia Says Stuxnet Could Have Caused New Chernobyl
Utah Army base locked to solve 'serious concern'
Virginians Experience Massive Verizon Wireless Outage

-- China --
Measures to tame property market
China to Renew Bid to Curb Steel Industry's Sprawl
China to create largest mega city in the world with 42 million people
Absolute madness. Under energy decline it will turn into a giant hell-hole. -- RF

-- UK --
Education bill gives teachers right to search pupils for forbidden items such as phones or pornography
Transport projects cost £226m above estimates - audit
Forest sale plans anger campaigners
Dire state of care homes for the elderly is only going to get worse, says top inspector
Debt fears over rise in student loan interest rates

-- US --
Fed Assets Increase to $2.45 Trillion on Treasury Purchases
John Boehner To Kathleen Parker: 'We're Broke'
M2 Surges By Biggest Weekly Amount Since 2008 As It Hits Fresh All Time Record
Kansas turns 150, and doesn't have money to celebrate
As deficits, debt soar, Obama, Congress fail to confront them
CBO: Social Security Will Run Permanent Deficits
Only 35% of Americans Have Emergency Savings
Bernanke: All But One Major Firm Was At Risk In 2008
N.Y. Gov. Threatens To Mothball More Prisons
Foreclosures spread into previously safe areas
A Report on Price Inflation from the Front Lines (Daily Reckoning)
Another Nail in the Market's Coffin
Rep. Ron Paul mulls Senate bid
Moody's to Factor Pension Gaps in States' Ratings
State pension + debt = big numbers
Residential real estate: If It's "A Buyer's Market," Why Is No One Buying?
Mother Nature's Economic Punch: snow removal costs are burying local gov't budgets

And finally... Self-proclaimed unluckiest man in the world struck by lightning

Wednesday, January 26, 2011

 

News Links, January 27, 2011

-- Global economic meltdown --
German December Import-Price Inflation Is Fastest in 29 Years
"Energy was 34.2 percent more expensive in December than a year earlier, the statistics office said today. Iron ore prices soared 98.4 percent, while non-iron ore metals cost 37.9 percent more."
Europe Rescue Debt `Hot' as Asia Central Banks Lead Purchases
Japan Fuels `Overwhelming' $61 Billion in Orders for EFSF Bonds
US budget deficit back to 2009 recession high, CBO says
Belgian Political Crisis Deepens as Mediator Quits, AA+ Rating Threatened
Are Gold Prices Ready to Return to Record Run?
10 Threats To Global Economic Stability That Should Be On Your Radar Right Now
More gold bar vending machines open up in Dubai
The 13 Countries That Control the World's Gold

-- Fault lines/flashpoints/military --
Egypt Revolt post Tunisia: Is a Dam breaking? What happens next?
Egypt protests continue into second day despite ban and police presence
Egypt Tightens Security in Cairo to Prevent Further Rallies
Mubarak's son, family flee to UK amid unrest
Tunisia: Arrest warrant issued for ex-president Ben Ali
FACTBOX-Europeans stage anti-austerity protests
America's Middle Eastern Puppet Regimes Are Falling Like Dominoes
Mexican government: La Familia cartel in retreat
Ships Seized by Pirates See 36-Fold Cost Rise
Will the Last Mercenary Turn Out the Lights On U.S. Empire
Chávez tackles housing crisis by urging poor to squat wealthy parts of Caracas; troops take over farms
Watch out for the Black Swans
U.S. Puts End to India Export Restrictions

-- Energy/resources --
Clean-Energy Future Looks Black, Not Green, Davos Panel Says in Outlook
Brent Oil's Record Open Interest Threatens WTI: Energy Markets
South Africa may face serious shortage of electricity supply in March
Scrap Metal Cowboys (Paul Kedrosky and Gregor Macdonald)
U.S.-built highway to Southern Sudan paved with hope
Oil. -- RF
Chinese power companies to boost coal reserves

-- Got food? --
Wheat Futures At 29 Month High As Developing Country Demand Surges In Aftermath Of Tunisia Revolution
FAO warns against food export curbs

-- Environment/health --
Bird flu epidemic spreads to more prefectures (Japan)
Streets flooded, power cut in Saudi city of Jeddah

-- Intelligence/security/internet/systemic breakdown --
Even DHS Is Freaked Out by Spy Drones Over America
Toyota recalls 1.7 million autos as quality woes mount
Nothing wrong with Toyota in particular; just another huge, complex system breaking down. -- RF
Social Media Revolution Hits Saudi Arabia
The Justice Department May Force ISPs to Save Records of Your Every Move (US)
Google Comes Under Fire for 'Secret' Relationship with NSA
Government airplanes face uncertain future amid economic, maintenance troubles (Japan)
Internet 'kill switch' bill will return (US)

-- China --
China's Wen asks people to speak up
A desperate bid to defuse public discontent and future civil unrest. -- RF
Wage Inflation Rampant In China As More Provinces Plan Minimum Salary Hikes
Chinese Interbank Liquidity Collapse Leads To 45% Lending Rate Surge
George Friedman: The China "Miracle" Is a Mirage

-- UK --
Bank of England chief Mervyn King: standard of living to plunge at fastest rate since 1920s
Cameron Vows to Stick to Budget Cuts as U.K. Economy Shrinks
Soros Sees U.K. Recession If Deficit Plan Implemented
Britain's Economy Stalls, Prompting Attacks on Cameron's Strict Austerity Cure
Graduate unemployment at highest for over a decade
British women waste £1.6bn on clothes they never wear
Climate change means we will be skiing in Yorkshire rather than sunbathing under palm trees, experts warn

-- US --
From coast to coast: Cargo theft rose steadily in 2010
"Experts say two-and-a-half loads of cargo theft occur every day in the U.S. – the highest ever on record."
Bank Bailout Program to Cost $25-50 Billion: Treasury
Fed Pushes On With $600 Billion Stimulus on Slow Growth
Watchdog: Overhaul Didn't End Future Bailouts
Obama's Spending Freeze Just 'Spare Change': Roubini
CBO's Revised Budget Sees 2011 Deficit Rising By $500 Billion To $1.5 Trillion; $4 Trillion In Deficit Through 2013 Guarantees QE3+
BofA's Countrywide sued, accused of massive fraud
Ohio's Gov. Kasich: 'Put On The Seat Belt,' everything is on the chopping block
Senate leaders eye option of state bankruptcy
Muni Bondholders Left in the Dark
"A retired journalist in Chevy Chase, Md., spent $25,000 10 years ago on Maryland Health and Higher Education bonds. She said she checked regularly for updates online and didn't see anything amiss. But then in October, she says, she was stunned to get a letter from a broker offering 50 cents on the dollar."
The situation is dire. Still, there are those who will stubbornly insist that Meredith Whitney is talking through her hat. -- RF
Dead ahead: State and city pension FAILURES!
Households Continue to Deleverage
My State Presently Owes Its Pension Funds $208 Billion What About Yours?
Budget Deficit To Hit $1.48 Trillion
Consumers hit with higher food prices
"A food basket survey by The Tennessean earlier this month found a 12.5 percent spike in prices for a typical grocery basket filled with staples compared with November 2009."
Building lots of infrastructure sounds great. Paying for it won't be easy
Utah to have state gun?
Is This What The Whole Country Is Going To Look Like After The Economy Collapses?
Nevada Unemployment: The Worst Gets Worse

And finally...
Getting Into Harvard Easier Than McDonald's University in China
Jim Cramer Just Told All Of His Haters To "Shut Up"


Tuesday, January 25, 2011

 

News Links, January 26, 2011

-- Global economic meltdown --
India Raises Interest Rates to Two-Year High to Slow Inflation
Japanese interest rate unchanged
PBS: How Severe Is Europe's Intertwined Debt Crisis?
A Message From the Baltic Dry?
The Shipping Industry Faces Turbulent Seas
Debt Restructuring Will Save the Euro (CNBC)
Budget threat to Ireland's multibillion loan
Sarkozy lays out plans for 'moral' reforms of global money markets
Wall Street Partying in Davos as Bank CEOs Overcome `Angst' After Crisis
Greece Default With Ireland Breaks Euro by 2016 in Global Poll
Bank of Russia says it's buying only domestic gold
Japan To Buy 20% Of 5bn Euro Bonds In Ireland Bailout

-- Fault lines/flashpoints/military --
Lebanese 'Day of Rage' Protesters Burn News Truck
Egyptians rage against Mubarak's rule, three killed
Protests in Egypt and unrest in Middle East – live updates
Cairo erupts as Egyptian protesters demand Mubarak resign
Yemen's Saleh Scrambles to Appease Protesters
Saudi man sets himself alight in poor border region
US: Tunisia example can spur reform
Be careful what you wish for. -- RF
Somali pirates seize German ship off Seychelles
US Marines to train in mock city as big as San Diego
Japanese magazine convinced war is only way to revive the U.S. economy

-- Energy/resources --
Pacific Rim nations mull energy sharing
This is an important development, as it might involve giving up energy sovereignty. -- RF
Pakistan to face power outages for many years
Italy May Shut Up to Six Oil Refineries on Demand Slump, High Competition
Total Revamps for `Bolder' Oil Exploration as Output Lags Behind Rivals
Deep-Water Drilling in U.S. Hinges on Blowout Fleets
"More than three months after a federal moratorium on deep- water exploration was lifted, drilling permits are being withheld because 'not a single operator has demonstrated' that it has the means to adequately respond to an out-of-control well."
Worse rare earth shortages 'yet to come' (Japan)
Merrill Lynch says OPEC should boost oil production
We need freedom of action to confront peak oil (Nicole Foss)

-- Got food? --
Rising commodity prices and extreme weather events threaten global stability (Michael T. Klare)
Risk of Riots Rising as Governments Cut Food Subsidies, UN's Sheeran Says
FAO wants price curbs and warns of food crisis: report
Kenya: Drought and Food Price Increases Spark Fears of Violence
"Potato prices have doubled since January last year, wheat by 50 per cent while cabbages and tomatoes now cost about a fifth more."
Famine: The other F word!
Emerging Nations Tackle Food Costs
Why Rising Food Prices Could Hurt Stocks
BRIC Inflation Threatens Consumer Stocks as Food Bills Increase
Asians see France's G20 food push as part of solution
Food Riots and the Mass Liquidation of Foreign Exchange Reserves
The Beer Index Spikes Up: Wheat, Barley, Hops, VATs

-- Environment/health --
USDA found to be poisoning bird populations, causing mass die-offs involving millions of birds
Dwindling Rain in the Southern US
Another Japan poultry farm confirmed with highly pathogenic flu virus

-- Intelligence/security/internet/systemic breakdown --
West Africa Rising: World Bank offers Internet 'revolution' to Sierra Leone, Liberia
Internet connectivity might bring more "revolution" than bargained for. -- RF
The Doomsday Project, Deep Events, and the Shrinking of American Democracy
Twitter Blocked In Egypt

-- China --
Property prices 'will continue to increase'
Holy SHIBOR Batman, We Have A Snow Problem

-- UK --
Rubbish bags to be rationed
U.K. Economy Unexpectedly Shrinks as Cold Hits Services
Civil liberty campaigners fear 'control orders lite' regime

-- US --
Authorities Fear Cops Being Targeted After at Least 11 Officers Shot in 24 Hours (Fox News)
Dark lords of student loan debt
Many readers will recall this article from yesterday: The College Degree Scam. A college degree, traditionally billed as a passport to a lucrative career, is turning into a ticket to debt servitude. -- RF
Airlines' path for profits: Fly less, charge more
Demand destruction and downsizing rule the skies. -- RF
Inflation Is So Much Worse Than We're Told (Chris Martenson)
Sign Of The Times: Lights Going Dark On Major Area Highways
Local farmers find new funding ally (St. Louis)
The GOP Is Going To Play A Pretty Brilliant Move In The Debt Ceiling Fight
Hey, great idea... but what domestic spending would they cut? America is already falling apart. -- RF
Official: Obama to call for 5-year spending freeze
State of the Union 2011: US risks losing its global supremacy, Barack Obama to warn
Muni Bonds Face a Perfect Storm
S&P warns of more muni bond downgrades
Gun raids show cartels at work in Arizona
Home prices at lowest levels since housing bust
Home prices fall for fifth month in a row
Second wave of housing bust hammers more cities
7,400 New South Florida Condos Still Unsold From Boom Years
The Next Robo-Signing Crisis?
Most States Shed Jobs
Washington State joins movement for public banking
The downsizing of America – Oil production off 1980s peak and manufactures learn creative methods of repackaging inflation.
Christie Says He'll Lure Illinois's Jobs to New Jersey After Tax Increase
Insider Selling To Buying Ratio: 2,842 To 1
Veteran crisis: Newest war vets become homeless at alarming rate

Monday, January 24, 2011

 

News Links, January 25, 2011

-- Global economic meltdown --
China vs. JPMorgan: the battle over gold and silver
Russia To Increase Gold Holdings By 13% In 2011, Will Buy 100 Tonnes Of Gold Each Year
World Economic Forum Endorses Fraud (Mish)
Japan PM renews calls for fiscal reform talks
Japan PM Says Japanese Public Must Shoulder Burden Amid `Severe' Fiscal Strain
Q+A-Are Japan's public finances at tipping point?
Japan's new graduates facing grim job prospects
New EU Bank Stress Tests More Like the US: Lagarde
How encouraging! -- RF
Spanish Banks' Capital Shortfall Will Not Exceed $27 Billion, Salgado Says
China Property Prices Defy Beijing's Cooling Measures
China: Boom or Bust?
China might revalue its currency this year: Kissinger
Global Price Fears Mount
Brace Yourself: Peter Schiff Predicts U.S. "Inflationary Nightmare", Made in China
U.S. Treasury Secretary Admits U.S. Default is Imminent
"If this document [Geithner's letter to Congress] is not a harbinger of impending civil unrest on a national scale in the United States, I can't imagine what is."
UK-Nordic-Baltic Summit to form new "alliance"
The Natural Laws of Collapse
Overcapacity Still Plagues The Auto Industry
Sarkozy targets commodities in G20 agenda
How Central Bankers Will Save Us from Rising Food Prices (Daily Reckoning)
Inside Citigroup's Strategy to Become Global Consumer Bank
U.S. Markets Breaking Down, Schiff Says: Buy Gold, Energy and Emerging Markets
Dubai real estate deals down 65% in 2010
Saudi banks won't need state bailout, says CenBank governor
Record Credit Card Debt Fueled by Growing Peso Shortage: Argentina Credit

-- Fault lines/flashpoints/military --
New Africom chief will consider base in Africa despite initial opposition
Egypt government warns activists against Tuesday "Day of Wrath" protest
Politics and Growing Violence in Egypt
Suicide bomber kills 35 at Russia's biggest airport
Kuwait getting Patriot missiles
Amid rumors of rebel groups unifying in Congo, countries in region discuss joint military action
Sarkozy urges financial reform to avoid unrest

-- Energy/resources --
France Was Net Power Importer on More Days in 2010
Oil 'could hit $200 a barrel' says investor Jim Rogers
Today's Trends: China Oil Demand Hits Record, to Keep Climbing in 2011 (Rigzone)
Saudi: 2011 oil demand to grow 1.8M barrels a day
Water, Not Oil Could Soon Become the World's Greatest catalyst for Conflict
Sinopec to invest in USD 5 billion oil pipeline in Canada
Record cold has South Korea telling citizens: wear long johns
Metals Traders Worth $3 Million on Wall Street Amid Shortages
Vast gas fields found off Israel's shores cause trouble at home and abroad
Fight Over Oil Sands Pipeline Continues to Heat Up

-- Got food? --
Food price rises 'may cause unrest': ministers
"Agriculture ministers from Europe, Africa and Canada warned Saturday of dire consequences, including riots and social unrest, unless action is swiftly taken to improve food security and tackle price hikes."
Food prices to rise sharply as more struggle to put meals on their tables (East Africa)
Korean situation
"Families of [NKorean] Communist Party and security service officials are buying all [the food] they can, and apparently stockpiling it. Lower ranking officials are increasingly asking that their bribes be paid in food (especially rice), rather than cash (which is declining in value at the black market currency exchanges). Similarly, several factories, that are still working and exporting, are asking to be paid in rice."
Global food system must be transformed 'on industrial revolution scale'
Judging by this article, the prescription is totally wrong-headed. More roads and infrastructure? GM crops? This is the same industrial thinking that got us into this mess in the first place. -- RF
McDonald's serves up UK record
McDonald's likely to raise prices in 2011

-- Environment/health --
What will cars be like in the future?
Horse-drawn carts? -- RF

-- Intelligence/security/internet/systemic breakdown --
Report: Stolen data sold over online black market
China's netizens reach a whopping 457 million
Mexico to become first country to use iris scans on ID cards

-- China --
China adopts new rules to quell huge source of unrest
China's £1.1bn desalination plant is latest megaproject in increasingly desperate race against water shortages
Shandong drought threatens drinking water supply, crops

-- UK --
Every mile of road 'has ten potholes' claim
Sharp rise in the number of struggling companies
Insolvencies set 'to rise by 10%' in 2011
Households grow more pessimistic on finances
Communities threatened by government cuts, warns Unison
Auto Trader search data shows big interest in smaller cars
Teachers threatening to strike over pensions

-- US --
Police fear 'war on cops'
"With the Florida deaths, the nation is on track in 2011 to match the 162 police officers killed in the line of duty in 2010."
Bank Valuations Stuck at 2009 Lows Showing No Recovery From Credit Crisis (Bloomberg)
"Valuations for U.S. financial stocks have fallen so far, it's like the rebound from the worst crisis since the 1930s never happened."
Cantor: 'No Federal Bailout of States'
Seeking a Warm Place on City's Coldest Night
Shortage of spare parts often delays Air Force maintenance
Yesterday it was a tampon shortage; today it's warplane parts. And don't forget the pharmaceutical shortage covering all of North America. Systemic breakdown is here and now. -- RF
The rush is on to make food traceable
"The new requirement represents a major adjustment for some parts of the nation's food system, as the government imposes standards and electronic record-keeping on an industry where small players still rely on handshakes and paper invoices."
Spread Between Short- & Long-Term Borrowing Rates Hit Widest Ever
The College Degree Scam
Postal Service announces new closures
'Multiple' gas fires spark Ohio mass evacuation
Consumers Shifting Back to High-End Liquor
Definitely, this means the recovery has taken root. -- RF
January 23 2011: Only 47% of working age Americans have full time jobs (Automatic Earth)
Commodities Prices Are Hitting Your Wallet

And finally... Man starts fire trying to kill bedbugs

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