Economic Fallout From Japan's Catastrophe Worse Than "Expected"; Geological Study: March 11th Quake Activated 20 Volcanoes in Japan, Warns of Massive Earthquake and Volcanic Eruption: Video - Liquified Ground in Japan or Shelf Breaking Loose; China "Supports" Spain;

By now, you are aware that market fundamentals no longer matter one iota as all news is good news for the markets, so let's get started with the only news that matters - radiation, Japan and earthquakes.

First, a must read from the New York Times. If you needed any more proof what a sham the scientific community has become nowadays, especially those guests you see invited on lame main stream media with their "radiation is good for you" propaganda, that article is it. As the reporter highlights in two separate interviews hundreds of miles apart, these shills experts are programmed to talk about bananas when the word radiation comes up in conversation.

Of course, the comedy tragedy [fill in the blank] doesn't stop just there. Remember the endless line of paid shills experts that were invited on nationally syndicated TV programs to talk about the positive economic impact this catastrophe will have on the global economy? Well, no surprise to readers of Fiat's Fire and ZeroHedge, officials are coming to terms with the situation we already knew about. As Reuters is reporting today, Japan's Economic Minister said the economic damage is "worse than first thought" and they are uncertain when all this rebuilding would begin to boost growth. We'll help you out - in the year 2025. Maybe. Maybe not. One wonders what their contingency plan is when 1/4 of Japan sinks into the ocean as this video shows possible liquefaction or possible shelf disconnection. We're not geology experts - we're financial cum radiation experts, so we can't say for sure what this is. You decide.

Hold that thought - whatever occurs, we already know what plan A is - print a few Trillion Yen. Plan B is more or less the same, but multiplied by a factor of 10. And so on and so forth, until a loaf of bread costs more than an iPad2. Which seems very likely given rising inflationary pressures worldwide and a report from the Japanese Meteorological Agency showing "the country's 20 volcanoes have "become alive due to the massive March 11 earthquake" and a "chain earthquake over 9.0-magnitude might hit Japan and its offshore area." We doubt things will start to settle down anytime soon, especially with the sun becoming very active recently.

Which brings us to a theory I proposed a while back that solar eruptions (CME) cause earthquakes here on earth. Indeed, as I predicted based on a solar storm last week, given the ~3 day time it takes for the energy to reach the earth, an earthquake of 6.0+ magnitude will occur sometime between the 8th and 13th; as of today, we've had 4 on what seems to be the weakest link in the chain. Perhaps space weather deserves a little spot on the 10 o'clock news after your normal weather forecast, so keep an eye (or two) on Yellowstone and California, both of which might become the next weakest link.

There is a bit of good news today however, and this comes without any extra implied sarcasm - oil is down almost 4% today. Not that you'll see it reflected at the pump anytime soon, but it's nice to know Goldman Sachs has a new entry point oil doesn't only go up all the time. Tomorrow, it'll be up again so enjoy the reprieve while you can. Did we mention that silver and gold are solid? Silver still above $40 and gold near highs.

Something that may or may not be news worthy today is China is saying they will continue to support Spain with further bond purchases. Of course, we know how well that worked out for Greece when China said the same exact thing last year. Speaking of Greece, taking a peek at Greece's financials, yields (no pun intended) us a view at a completely unsustainable 13%(!) 10 year bond yield. Of course, this doesn't mean a thing... besides indicating Greece is 100% insolvent and has been and will always be; the same of which can be said for Ireland, Portugal and dare we say, Spain.

Check back often for more updates.