Wednesday, February 03, 2010

$700 Billion Debt Tidal Wave; UK Will Break Darling's Debt Promise

From Jenna Orkin

Will Germany be first to leave the euro?
It Begins: Japanese Post Bank Urged To Diversify Away From Government Bonds (from Rice Farmer)
The $700 billion debt tidal wave coming to wreck corporate balance sheets
Jim Chanos's Brilliant Lecture On The China Bubble
The Market Is WAY Too Complacent, Persistent Unemployment Will Cause Everything To Come Unglued
CHART OF THE DAY: Banks Are Choking Off The Oxygen To Small Businesses, While Opening Up The Purse To Large Firms
Largest ever federal payroll to hit 2.5 million
Double-dip risk after inventory blowout
Here's Why Stocks Will Get Shredded When Inflation Picks Up
Here's 10 Ways Obama's Budget Is Going To Screw You, The American Taxpayer
Volcker's dangerous loopholes
Hospital Mergers Loom as U.S. Overhaul Fails Facilities Hurt by Recession
Interview with Carolyn Baker

Drug Surveillance Drones Frequent Flyers in Latin America
Somali Pirates Widen Attacks to Indian Ocean, EU Admiral Says
Darpa's New Plans: Crowdsource Intel, Edit DNA
CIA allows agents to moonlight
"The Roots of Violent Islamist Extremism and Efforts to Counter It" (pdf)
See last page re: Classified Outreach to Muslim Women
Is this why we're now getting headlines about terrorism expected to come from women?
Obama seeks to outsource spacecraft

Swiss Accuse Germans of Bank Robbery in Data Quarrel

'Isolation is No Longer an Option for Switzerland'
UK will break Darling's debt promise, warns think-tank
Haiti Debates Moving Its Capital
Report: 65,000 flights should not have flown

State seeking private sector interest in 2 prisons
Private prison company finds gold in California
Tennessee company expects to profit from governor's private prison plan

10 States Where Surging Wind Power Is Breaking Records
Converting Coal Plants to Biomass
Solar panels and other renewables will be installed on one in ten homes
Crystals in meteorite harder than diamonds

Note: Yes I did allow kali to post three times; it's even more annoying to have to weed them out at this end since it's not just a matter of scanning and overlooking but of opening, rejecting and waiting. I'm trying to discourage the ludicrous and indulgent habit of submitting multiple copies.


businessman said...

Regarding Jenna mentioning the problem with people submitting the exact same post to the Blog multiple times, as many of us know, sometimes our posts can get lost within the system.

To deal with this I submit my post, and if it doesn't get posted the next time Jenna releases more new posts onto the Blog, I then consider submitting my post to the Blog once again.

RanD said...

Jenna, Puleeze do know that RanD's 8:11 AM post to you & FTW was entirely facetious... as it is that we were reading (but perhaps wrongly, of course) Sebastian's 11:34 PM post to also be entirely facetious.

RanD has yet to observe even a smidgeon of fault in the work you do for the FTW forum/family.

eyeballs said...

In what sense is it "green" to burn "biomass" (wood) for electricity?

Paul said...

Richard Heinberg's Museletter: China or the U.S.: Which Will Be the Last Nation Standing?

Excellent analysis/forecast of the progress of global coLLapse….


But now the game has changed. A collapse of the U.S. would leave China devastated. Not only would Beijing lose its main customer, but the hundreds of billions of dollars’ worth of treasury notes it has accumulated would be rendered worthless. If China were internally stable, such impacts could be absorbed with difficulty. But in light of China’s own simmering social and financial predicaments, a U.S. collapse would almost certainly be enough to tip Beijing’s economy into a tailspin, resulting in both social and political crises.

A collapse of China would similarly devastate the U.S. Obviously, the loss of a source of cheap consumer products would discomfit WalMart shoppers, but the shock soon would go much deeper. The Treasury would lose its main foreign buyer of government debt, which means that the Fed would be forced to step in and monetize that debt (in common parlance, “turn on the printing presses”), undermining the dollar’s value. The result: a hyperinflationary economic crash. Such a crash is probably inevitable at some point anyway, but a collapse of the Chinese system would hasten and worsen it.

In neither instance would international institutions be capable of preventing substantial social and political fall-out. The last nation standing would not stand for long. We have reached the stage where, as Tainter says, “World civilization will disintegrate as a whole.”



p.s.. Thanks Jenna for the continued superb work. Just a thought - is coLLapse accelerating (based on frequency of postings - now almost daily) or is that just evidence of the world awakening to what is *really* going on?