Daily Digest

Daily Digest 3/12 - Japan Quake And Inflation, The Limits Of Preparation, Moody's Downgrades Spain's Debt

Saturday, March 12, 2011, 10:42 AM
  • Tragic Quake May Add To Inflation Pressures
  • Japan Faces Another Leg Down In Its Fiscal Health After Quake
  • The Best-Laid Plans
  • Moody's Downgrades Spain's Debt
  • Germany Sets Steep Price to Shore Up Euro Zone
  • Libya: Gaddafi Troops Take Rebel Oil Town
  • Oil Prices: Held In Reserve
  • Japan Expands Evacuation Around Nuclear Plant

Crash Course DVDThe 3-disc DVD with presenter’s pack offers helpful guidance for sharing the 3E message with your community. (NTSC or PAL)

Economy

Tragic Quake May Add To Inflation Pressures (guardia)

Spending over the coming months to remedy the destruction will tend to more than offset the economic losses suffered. There are already calls for a supplementary budget and there is no doubt that the government will be quick to repair infrastructure in the northeastern region — and will have to borrow more as a result. The Bank of Japan has promised to provide ample liquidity. Firms, meanwhile, will rebuild capacity, with insurance companies bearing much of that cost.

Japan Faces Another Leg Down In Its Fiscal Health After Quake (jdargis)

“A supplementary budget is like the last thing that people watching the JGB market want to hear,” said Ogawa, adjunct professor at Columbia University’s School of International and Public Affairs in New York, and a former Japanese banking analyst who lived in the nation for 15 years. The prospect of rebuilding “signals another leg down in Japan’s fiscal health. So I’m concerned that in the short to medium run, there’s going to have to be more borrowing,” she said.

The Best-Laid Plans (jdargis)

The sobering fact is that megadisasters like the Japanese earthquake can overcome the best efforts of our species to protect against them. No matter how high the levee or how flexible the foundation, disaster experts say, nature bats last. Dr. Irwin Redlener, director of the National Center for Disaster Preparedness at Columbia University, warned that an earthquake in the United States along the New Madrid fault, which caused strong earthquakes early in the 19th century, could kill tens, or even hundreds of thousands of people in the more densely populated cities surrounding the Mississippi River.

Moody's Downgrades Spain's Debt (jdargis)

The agency reduced Spain's rating by one notch to Aa2 and warned that a further downgrade is possible if indications emerge that Spain's fiscal targets will be missed, and if the public debt ratio increases more rapidly than currently expected.

On the plus side, Moody's Investors Services noted the government's resolve in dealing with its problems and added that Spain's debt sustainability is not under threat.

    Crash Course DVDThe 3-disc DVD with presenter’s pack offers helpful guidance for sharing the 3E message with your community. (NTSC or PAL)

Germany Sets Steep Price to Shore Up Euro Zone (jdargis)

Germany is calling for several measures: raising retirement ages to reduce the burden on pension funds, ending the linking of wages to increases in the cost of living, committing to debt reduction and submitting to a level of budget scrutiny that was until recently considered anathema — and is still viewed by many as a step too far.

Energy

Libya: Gaddafi troops take rebel oil town (jdargis)

"The United Nations, the Arab League, the African Union, the Europeans - everyone should participate," Mr Mussa told German weekly Der Spiegel.

On Friday, EU leaders in Brussels stopped short of supporting the British and French initiative, saying instead that they would "examine all necessary options" to protect civilians.

Oil Prices: Held In Reserve (jdargis)

Prices are likely to remain high, however, on fears of further Arab unrest and as markets adjust to different patterns of supply. That has led to calls for governments to tap oil reserves. The biggest is America’s 727m-barrel strategic petroleum reserve (SPR), which lurks in caverns in Texas and Louisiana. The Japanese government controls the world’s second-largest reserves, with 320m barrels on tap, while European countries have a total of 420m. The reserves were set up in the wake of the Arab oil embargo of 1973 to blunt the effects of severe supply shocks.

Environment

Japan Expands Evacuation Around Nuclear Plant (jdargis)

An explosion at a crippled nuclear power plant in northern Japan on Saturday blew the roof off one building and caused a radiation leak of unspecified proportions, escalating the emergency confronting Japan’s government a day after an earthquake and tsunami devastated parts of the country’s northeastern coast.

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3 Comments

Poet's picture
Poet
Status: Diamond Member (Offline)
Joined: Jan 21 2009
Posts: 1891
BBC News Videos Of Quake, Tsunami, Nuclear Explosion

 

Right now it appears to me the best source of various videos of the quake, tsunami, and nuclear explosion are on BBC. They're all collected in one place for now.

http://www.bbc.co.uk/news/world-asia-pacific-12709850

Poet

idoctor's picture
idoctor
Status: Diamond Member (Offline)
Joined: Oct 4 2008
Posts: 1731
John Williams

John Williams....shadow stats

plato1965's picture
plato1965
Status: Platinum Member (Offline)
Joined: Feb 18 2009
Posts: 615
   Revenge of the geeks. A Gnu world order ?

 

 Revenge of the geeks. Operation mayhem ?

 http://www.youtube.com/watch?v=7D6neBzTnOQ&feature=player_embedded

 http://market-ticker.org/akcs-www?post=182152

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