Last September, Japanese PM Shinzo Abe told Olympic dignitaries in Buenos Aires in an address that helped Tokyo win the 2020 Games: "Let me assure you the situation is under control." It would seem, just as he 'assured' his people that Abenomics would 'fix' Japan, in the case of Fukushima, he lied. As Japan Times reports, the manager of the Fukushima No. 1 nuclear power plant has embarrassingly admitted that repeated efforts have failed to bring under control the problem of radioactive water.
Public Service Annoucement: The Most Likely Armageddon Threat … Preventable for a Small Amount of Money
As he visited clients around the nation, JPMorgan CIO Michael Cembalest noted a number of questions repeated... why can’t the US spend more on infrastructure? why can’t the US spend more on worker retraining? why is less money being spent on training, employment and related social services? why is energy spending falling? The answer, ne explains below, to all these questions is the same: these categories are declining since they are being squeezed out by the inexorable rise in entitlement payments.
- US, Russia talks fail to end Ukraine deadlock (AP)
- Russian forces 'gradually withdrawing' from Ukraine border (AFP)
- Turkish PM Erdogan tells enemies they will pay price after poll (Reuters)
- And Goldman arrives: Credit markets open to Argentina for first time in years (Reuters)
- Regulators Twice Failed to Open GM Probes (WSJ)
- Bad loan writedowns soar at China banks (FT)
- Investors Breathe Life Into European Banks' Bad Loans (WSJ)
- Euro zone inflation drops to lowest since 2009 (Reuters)
- Yellowstone National Park rattled by largest earthquake in 34 years (Reuters)
While Naftogaz (Ukraine's gas pipeline operator) states that all gas transportation from Russia to Europe is running normally, Bloomberg reports that Russian natgas exports to Europe are declining. Shipments are down over 4% from the prior week and also lower to Ukraine. This 'adjustment' follows increased sanctions by the West as Medvedev's notable statement this morning that Ukraine owes Russia $16bn. Furthermore, Gazprom has cut its Diesel output by the most in 7 months... and just to rub some Black Sea salt into the wound, NY Times reports that Russia's asking price for natgas to Europe is soaring.
The situation with Russia should give investors and traders a reason to brush up on their history, as current events take root in things that happened 50, 100, and 200 years ago. To understand this, can provide perspective, during an information war, where it's not easy for some to separate facts from beliefs and propoganda (on both sides). The relationship between US and Russia has always been interesting, as we shall explore.
The cultural divide
Now that the non-fighting and the Crimean annexation is over, all that's left are cheap words and hollow threats.
- UKRAINE TO REMOVE MILITARY FROM CRIMEA TO MAINLAND: PARUBIY
- UKRAINE TO FORTIFY MILITARY ON EASTERN BORDER: PARUBIY
- UKRAINE TO STRENGTHEN SECURITY AT NUCLEAR POWER PLANTS
- UKRAINE TO SEEK COMPENSATION FOR RUSSIA SEIZING ASSETS
Meanwhile: U.S. PREPARED TO IMPOSE FURTHER COSTS ON RUSSIA, CARNEY SAYS. Costs - drink!
Globalization is certainly at the heart of what it means to become a trading partner with another country. I’ll scratch your back if you scratch mine. But, what happens when the itching continues or the scratcher starts scratching himself in an unlikely place rather than where he’s supposed to?
The disgusting images of face-mask-wearing Chinese going about their daily business in minimal visibility and lung-busting conditions are strewen across the interwebs. However, even fake sun-rises pale into significance when the full dismal reality of China's pollution problem is put in context. Perhaps the following chart is why China's latest round of reforms appear to 'declare war on pollution'.
Ukraine Won't Pay Russia For Gas, Has Billions In Obligations Due; Europe Promises Aid Money It Doesn't HaveSubmitted by Tyler Durden on 03/05/2014 08:03 -0500
About an hour ago, the head of Russia's top natural gas producer Gazprom said on Wednesday that Ukraine had informed the company it could not pay for February gas deliveries in full, further adding to tensions between Moscow and Kiev. Alexei Miller said Ukraine's total debt to Gazprom for gas deliveries was nearing $2 billion. "Our Ukrainian colleagues informed us that they would not be able to pay in full for February gas deliveries," he told Russian President Vladimir Putin.
This one should be intuitive: with Ukraine scrambling to load up on natgas ahead of the price surge once Gazprom ends its discount pricing, and unclear what if any access it will have to Russian gas in the future and at what cost, it was only a matter of time before the Ukraine stepped up the protection of its only true energy asset: its 15 nuclear power plant, which supply nearly half of the country's energy needs. Ukraine told as much to the U.N. atomic watchdog on Tuesday, although it framed it as a result of the "grave threat to the security" of the country posed by the Russian military. "Illegal actions of the Russian armed forces on Ukrainian territory and the threat of use of force amount to a grave threat to security of Ukraine with its potential consequences for its nuclear power infrastructure."
It’s Not Our Fight
There was a time when Vietnam was America's staunchest proxy war foe. This is not those times which explains why yesterday the president signed a landmark, controversial and not to mention hypocritical deal with Vietnam in which allows the U.S. to sell nuclear fuel and technology to its former foe, which will then be allowed to further enrich it. Why (because there is always a reason when the US does something so unexpected, and especially when nuclear power is involved)? Simple: as the Hill explains, the US "aims to help guarantee Vietnams' energy independence as China asserts a more prominent role in the region." Of course, the last time the US sought to prevent Vietnam's affiliation with a foreign superpower, the results were quite disastrous. One can only hope this time it's different.