Archive - Mar 14, 2011 - Story

This is what the recent explosions look like when looked at from space, per the BBC.

As the public is concerned about a possible deterioration at Dai'ichi Reactor 2, which according to TEPCO is now in a worse condition than either Reactor One or Three, Kyodo reports that radiation twice the maximum seen so far detected at nuke plant Monday. We are currently looking for a real time microsievert update or online Geiger counter tracking at Fukushima, which would probably be the most useful service to a population that has been lied to repeatedly (it's all contained until someone actually checks) by the government over the past 48 hours. Additionally, AP reports that the 7th fleet has shifted positions to avoid possible fallout: "As a precaution, the U.S. said the carrier and other 7th Fleet ships involved in relief efforts had shifted to another area."

It just got worse. From AP:

Japanese officials say the nuclear fuel rods appear to be melting inside all three of the most troubled nuclear reactors.

Chief Cabinet Secretary Yukio Edano said Monday: "Although we cannot directly check it, it's highly likely happening."

Some experts would consider that a partial meltdown of the reactor. Others, though, reserve that term for times when nuclear fuel melts through a reactor's innermost chamber but not through the outer containment shell.

We can only hope that the team that did not test for an 8+ magnitude earthquake did a better job at fortifying the containment shell which is the only thing separating radiation from the outer world.

RANsquawk US Afternoon Briefing - Stocks, Bonds, FX etc. – 14/03/11

RANsquawk US Afternoon Briefing - Stocks, Bonds, FX etc. – 14/03/11

RANsquawk US Afternoon Briefing - Stocks, Bonds, FX etc. – 14/03/11

RANsquawk US Afternoon Briefing - Stocks, Bonds, FX etc. – 14/03/11

RANsquawk US Afternoon Briefing - Stocks, Bonds, FX etc. – 14/03/11

RANsquawk US Afternoon Briefing - Stocks, Bonds, FX etc. – 14/03/11

RANsquawk US Afternoon Briefing - Stocks, Bonds, FX etc. – 14/03/11

RANsquawk US Afternoon Briefing - Stocks, Bonds, FX etc. – 14/03/11

RANsquawk US Afternoon Briefing - Stocks, Bonds, FX etc. – 14/03/11

RANsquawk US Afternoon Briefing - Stocks, Bonds, FX etc. – 14/03/11

Does anyone seriously think the global recovery is still intact? Based on what? Does anyone think that stagnant/declining wages, falling real estate values, skyrocketing prices for materials and energy, and belt-tightening by bankrupt States are ideal foundations for higher profits? Anyone who doesn't realize the quake in Japan is a tragic load dumped on a fragile addict's quivering back (i.e. the global recovery) will undoubtedly be surprised by how fast the global economy will start unraveling. Anyone who kept their eyes open is only wondering how a debt and propaganda-fueled recovery lasted this long.

The temporary lull in the Bahrain "peace" is over: Saudi troops have invaded the country, which has prompted the country's opposition to declare the escalation an act of war by Saudi Arabia, and as Reuters reports "Saudi troops who crossed into Bahrain were heading in the direction of Riffa, a Sunni Muslim area that is home to the royal family and a military hospital, witnesses said. They saw 150 armored troop carriers, and about 50 other vehicles including ambulances, water tankers, buses and jeeps. The vehicles were lightly armed and there were no tanks or missile launchers in the procession." All this serves as a reminder that should the violence in Bahrain not be contained, and if there is a "reverse invasion" out of Bahrain into Saudi Arabia, the Ghawar oil field, which supplies more oil than any country except Russia and the US, will likely be the first target of retaliating Bahrainis.