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World News Desk Headlines for January 20, 2012
Headlines
All has not returned to "normal" but the signs are still good that direct military action is off the table, at least for now. But increasing economic sanctions, as opposed to the proposed and stillborn oil embargo are hurting Iran. Might the goal be to goad Iran into attacking first? I don't think Iran will fall for that and it now has enough overtly stated support from Russia and China to ride it out, especially as many nations are scrambling to dump the dollar as a reserve currency. More on the World News Desk. -- MCR
Anonymous has flexed its muscles convincingly. -- MCR
It's a training team rather than an operational team. -- MCR
Economy
Powerful stuff from Marc Faber. He doesn't see collapse but he clearly sees and understands much of the stupidity governing markets now. Good video. -- MCR
This resonates more with me than Marc Faber's outlook but Faber has it right on the reset, which I am expecting this year. -- MCR
I am seeing a much more pronounced trend towards inflation and hyperinflation lately. The circumstances driving equity into U.S. stocks are temporary while sovereign bonds are getting weaker and weaker. More on the World News Desk. -- MCR
As Financial Sense recently wrote, we are leaving the debt supercycle phase. The money presses have passed the point of diminishing marginal returns. -- MCR
I cannot imagine any country actually wanting to join the EU now. -- MCR
Brilliant as usual. What stuck with me was that Mish clearly sees what I see, that brutal austerity measures are going to backfire big time. -- MCR
A percentage that high borders on disorderly default. I don't have a lot of hope for consensus on it. -- MCR
I'll be watching to see if the IMF finagles its trillion as the Fed announces QEIII for a trillion. -- MCR
Energy
We dismembered this really flawed Op-Ed yesterday. The comments and ratings on Zero Hedge's page pretty well sum up how this propaganda was received. – MCR
"So, despite vocal industry proponents to the contrary, there is no such thing as a free lunch. Growing, or even maintaining, U.S. oil and gas production will require an increasing level of inputs in terms of the number of wells drilled, the footage drilled, the capital investments required, and, likely, the large amounts of collateral environmental damage incurred."
A good read in that it mostly sidesteps the environmental issues and concentrates on inputs. -- RF
"Euro prices for gasoline, diesel reach record high"
Environment/Health
There isn't enough money in the world (real or imagined) to clean up or compensate for the damage that has been done. – MCR
About that "cold shutdown"... -- RF
"Japanese negotiators on Thursday urged the U.S. to exclude domestic banks from any penalties related to the Iranian oil sanctions, citing a potentially debilitating impact on the nation's economy."
"The Nuclear and Industrial Safety Agency has tentatively approved two idled reactors at Kansai Electric Power Co.'s Oi power plant in Fukui Prefecture as safe to restart but had a hard time submitting the draft to nuclear experts because of hours of interference from protesters."
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