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Fukushima radiation levels skyrocketing amid media silence

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Thursday, May 26, 2011

Fukushima radiation levels skyrocketing amid media silence

The latest radiation chart issued is confirming officially that melted down Reactor 1 has just hit the highest ever reading since the crisis began, or 204 sieverts/hour.
This crisis is now many times more serious than Chernobyl and the media even with an official reading that skyrocketed this week does not really care about this.

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Top 30 global financial risks

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Thursday, May 26, 2011

Top 30 global financial risks

The Financial Stability Board created a list of 30 large global financial entities that represented to it the most systemically worrisome firms in the world. The chart above tracks a weighted average of the 5Y CDS (or credit risk) of these 30 names. The higher the index, the great the credit risk perceived among the world’s most systemically worrisome financial entities. The greater that credit risk, the more concern there should be for another round of potential insolvencies or collapse of the financial industry.

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Greece update

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Thursday, May 26, 2011

Greece update

Well, as everyone is clear on the fact at this stage that Greece will default the question that remain is how it will happen and if it will remain in the Eurozone.
it seems there are already forces at work to dump Greece and its debt, Reuters launched yesterday the following news:
From Reuters:

  • EU Commissioner Damanaki says Greece’s Eurozone membership is at risk
  • EU Commissioner Damanaki says Greece must agree on tough measures or return to Drachma, according to state news agency

A few more interesting graphs from Reuters on the current Eurozone situation

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Broadband access rankings

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Sunday, May 22, 2011

Broadband access rankings

Interesting report on how countries fare when it comes to broadband access:

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Inequalities rising

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Sunday, May 22, 2011

Inequalities rising

A new study by Deloitte describe clearly how the inequalities are rising and the wealth amassed by millionaire households is set to increase by more than 100% over the next 9 years.
The key findings of the Deliotte study:

  • According to our analysis, the total wealth of millionaire households in the 25 economies included in this study is forecast to grow from $92 trillion in 2011 to $202 trillion in 2020.
  • Our study suggests that the rebalancing of global wealth is expected to accelerate over the next decade. Emerging market (EM) economies are likely to prove to be more dynamic in terms of growth rates, creating significant opportunities for wealth managers seeking to gain a share of these potentially lucrative markets. Among emerging markets, China may continue to be the driving force in the growth of millionaire wealth, followed by Brazil and Russia. Of the 25 economies examined in this study, China and South Korea are likely to join the top10 in terms of the total number of millionaires by 2020.
  • However, there is a paradox at the heart of this story. According to our study, in spite of the rapid growth of wealth in the EM economies, U.S. and Europe will remain the global centers of wealth over the next decade, in terms of both the amount of wealth held and the number of millionaire households. Our analysis indicates that aggregate wealth of millionaire households in the U.S. in 2020 will likely reach $87 trillion, from $39 trillion in 2011.
  • Our forecasts suggest that, in 2020, 43% of the world’s wealth among millionaire households will be in the U.S. Opportunities for growth potentially exist via greater U.S. state penetration. In the U.S., California will likely have the most number of wealthy households, while New Jersey may continue to have the greatest density. The East Coast is likely to see the highest growth rates —New York and Florida together may add 1.5 million new millionaire households by 2020.
  • Our forecasts suggest that total wealth among millionaire households will increase from $92 trillion in 2011 to $202 trillion by 2020, a growth of 119%. In emerging markets, the growth over the next decade is potentially quite impressive (260%), significantly outpacing the growth (107%) in developed markets.

According to our study, the total wealth among millionaire households of the 25 economies in this study generally exhibit little change in their ranking over the next decade. Emerging market economies will likely see some upward movement in rank (e.g., China).

In terms of the total number of millionaire households, emerging markets are likely to see an upward movement in rank, with some economies rising meaningfully (South Korea, Mexico) and others dropping slightly (Taiwan, Turkey).

The proportion of the ultra-wealthy in relation to total households in 2020 is likely to be the highest in Singapore.

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Greece default getting closer

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Sunday, May 22, 2011

Greece default getting closer

It seems Greece is getting every day closer to bankruptcy.
Fitch Ratings has downgraded again Greece’s Long-term foreign and local currency Issuer Default Ratings (IDR) to ‘B+’ from ‘BB+ and the Short-term IDR remains at ‘B’. All three ratings have been placed on Rating Watch Negative (RWN).
Norway today realized that supporting a bankrupt country was pointless at this stage and decided to stop providing financial aid which is clearly useless in the current situation.
This is not a major amount of money but certainly it is a clear signal to other countries that time has come to abandon the Titanic.
In the meanwhile Italy which was largely spared by rating agencies has been put in negative watch with possible downgrade. Another clear signal that things are turning very bad in the Eurozone, Italy has largely been ignored by rating agencies despite his stagnant economy and enormous debt due to the size of his economy and its importance in the eurozone, if rating agencies will start targeting Italy in the following months we can expect a major crisis to start immediately after, the big winner in all this mess would be the Dollar which could gain some value back from the demise of the Euro. Let us brace for another Lehman event before US Elections.

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Zombie Alert issued by CDC

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Thursday, May 19, 2011

Zombie Alert issued by CDC

It sounds as a joke but I swear it is true the United States Government has issued a zombie alert preparadness bulletin, providing tips on how to get prepared should our living deads decide to pay a visit in the future. The full article is available here: http://emergency.cdc.gov/socialmedia/zombies_blog.asp
The article was published by the CDC (Center for Disease Control and Protection), the same CDC that handled so brilliantly the last swine flu pandemia that killed less people than a normal flu and filled the pockets of pharmaceutical corporations.
Not sure when they are serious and when joking but it is a pretty funny article provided that people does not take it seriously and start shooting slow-moving folks.
Well done CDC you desperately needed some ratings boosts after your recent blunders, I would suggest an alien invasion next week.

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US President could be granted permanent war-making powers

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Thursday, May 19, 2011

US President could be granted permanent war-making powers

If you thought a war in Libya without Congressional authorization was bad…

Congress is proposing handing permanent, world-wide war-making powers to the president – including the ability to make war within the United States:

A hugely important provision for Congress to authorize a new worldwide war has been tucked away inside the National Defense Authorization Act (NDAA). The bill was marked up by members of the House Armed Services Committee (HASC) last Wednesday that poured into Thursday morning (2:45 a.m. to be exact).

A couple of minutes past midnight, Rep. John Garamendi (D-Calif.) offered an amendment to strike Sec. 1034 — the new authorization for worldwide war provision — from the NDAA. Visibly angry that such a large sweeping provision had not yet had any public hearing whatsoever, he vigorously characterized it as a very broad declaration of war.

Rep. Garamendi was very concerned by the limitless geographic boundaries of the provision. Essentially, it would enable the U.S. to use military force anywhere in the world (including within the U.S.) in search of terrorists.

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Strauss-Kahn replace Bin Laden on the stage

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Monday, May 16, 2011

Strauss-Kahn replace Bin Laden on the stage

The arrest of Strauss-Kahn is a very alarming issue not only for the case in itself but for the ramifications it will have on the global scenario. The issue if guilty or not is going to be debated in court, reactions to this incredible event are much more important at this stage, while some have openly suggested it is a trap others are more cautious.

But what appears is that this event could not have come to a better moment for both France and USA and maybe China too if true that a possible high profile replacement could come from either China, Brasil or India.
Sarkozy got rid of his  opponent to the next presidential elections while for United States this is derailing in the medium term any talks or suggestions of replacing the feeble US Dollar with Special Drawing Rights from the IMF as global reserve currency.
At the same time this is putting extreme pressure on the Euro by effectively removing a key player of the Euro crisis bailout talks.
Strauss-Kahn was supposed to attend a major meeting with Merkel this week in order to find a solution to the now inevitable bankruptcy of Greece and maybe in the coming months of Ireland and Portugal as well.
If there is a conspiracy certainly it has been quite timely in  setting the trap and it could risk precipitating a crisis in the following months, if there is not a conspiracy it is certainly a major blow to recovery and a very strange event indeed. What I would watch rather than his trial in the following months is the media background noise, it seems we are going to forget Bin Laden very soon; a new distraction from more serious crimes has been put on stage.

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Portugal propaganda video

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Wednesday, May 11, 2011

Portugal propaganda video or God save the Eurozone

Not sure if they are trying to snob the Finnish or gain some simpathy for their recent bail-out but certainly we hope that Greece will not try something similar with the Germans.
Worth watching the following bizarre video:

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