Wednesday, June 20, 2012

 

News Links, June 21, 2012

## Global Ponzi meltdown/House of Cards ##
Crisis has barely begun, says GLG hedge fund manager
"The global financial crisis has barely started and is likely to last for at least another 15 to 20 years as major economies cut debt levels, according to Jamil Baz, one of Europe's most prominent hedge fund managers."
Greece may be cut to emerging market status
Abandoning Ship: The Eurozone is failing at an accelerating rate
Must-see: Nigel Farage: "Listen! The Whole Thing's a Giant Ponzi Scheme!" (video)
Debt crisis: prepare for Lehmans re-run, Bank official warns, as leaders poised to bail out Spain and Italy
Schoolyard sale? Toronto board looks to sell parts of playgrounds to raise cash

## Fault lines/flashpoints/powder kegs/military/war drums ##
U.S., New Zealand sign defense agreement
"New Zealand and the United States have signed an agreement to bolster defense co-operation in the Asia-Pacific region."
White House Strategy for Africa Revealed: Intensified Militarization and War on Terror
Israel kills 2 Gazans as fighting enters third day
US Plans to Surge Military Presence Across Middle East

## Global unrest/mob rule/angry people/torches and pitchforks ##
Spanish miners fire rockets in clashes with police
"Coal miners in northern Spain have fired homemade rockets and hurled rocks at police as weeks of protests escalated into violence."
Unrest in tense Nigeria leaves at least 95 dead
Sudan police, protesters clash over austerity cuts

## Energy/resources ##
Electricity supplies could buckle under summer heat pressure
"Higher-than-expected use of air conditioning amid unseasonable heat is putting pressure on scarce electricity. This summer, blackouts will be a real possibility in South Korea."
Major electricity repairs completed following Lebanon blackout
Solar Flares Endanger Nuclear Plants, Power Grids
IPad Boom Strains Lithium Supplies After Prices Triple
Bankrupt British refinery facing closure

## Got food? ##
Dry weather sends grain prices higher
Soybean continues to soar in NCDEX, CBOT
"Soybean continues to stay higher for third straight day of the week in both global as well as in Indian market on the back of thin supplies in the domestic markets in India and hot and dry weather conditions in US."
By the Numbers: Livestock on Antibiotics
Climate change to worsen hunger as U.N.'s Rio+20 begins

## Environment/health ##
India in Race to Contain Untreatable Tuberculosis
Acquiring for show is no path to happiness

## Japan ##
Japan passes law to insure Iran oil imports
"Japan's parliament approved government guarantees on insurance for crude oil cargoes from Iran on Wednesday, paving the way for it to become the first of Iran's big Asian oil buyers to get round new European Union sanctions."
Japanese automaker Nissan to cut domestic capacity 15%
And just yesterday we learned that Toyota will cut its domestic capacity 10%. -- RF
BOJ: Foreigners own record high 8.3% of JGBs
"Foreign investors owned a record 8.3 percent of Japanese government bonds (JGBs) at the end of fiscal 2011, the Bank of Japan said June 19, creating jitters surrounding the nation's debt problem."

## China ##
China Renews Vow to Revamp Rare-Earth Sector
"China's State Council renewed a government pledge to restructure the industry that produces rare-earth minerals, but it gave no sign it will lift export quotas that are the subject of a challenge by the U.S. and other big economies."
Russia now a key power supplier for China
"In the northeastern Chinese city of Heihe, buildings along the Amur River are brightly illuminated at night, while lights are dim in Russia's Blagoveshchensk on the opposite bank.
"Heihe, a city of about 200,000 in Heilongjiang province, depends entirely on Russia for its electricity supply."
Chinese coal imports in May up by 62pct YoY

## UK ##
Elderly patients 'helped to die to free up beds', warns doctor
"NHS hospitals are using end-of-life care to help elderly patients to die because they are difficult to look after and take up valuable beds, a top doctor has warned."
UK unemployment falls by 51,000
Jeremy Heywood: Cuts may last until 2020
"The Cabinet Secretary, Sir Jeremy Heywood, has said spending cuts could continue until 2020, according to sources at a well-known think-tank."
Police forces to cut 650 jobs as part of 'alliance'

## US ##
Fed ramps up economic stimulus, ready to do more
"The central bank expanded its 'Operation Twist' by $267 billion, meaning it will sell that amount of short-term securities to buy longer-term ones to keep long-term borrowing costs down. The program, which was due to expire this month, will now run through the end of the year."
NAFTA superhighway hits the skids
Saving Calif. State Parks: The End Of Public Funding?
Have A State Pension? Don't Count On It.
Recession Watch: CEOs Growing More Pessimistic on GDP Projections




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