Not to be missed today is a new video from Fairewinds Associates Arnie Gundersen, who explains in detail what is still occurring. The good news is, reactor 3 seems to be stabilizing, but reactors 1, 2 and 4 are just heating up, quite literally. The most interesting aspect of the way he explains the situation is by breaking down the information TEPCO and the Japanese gov't publicly release, into easily digestible pieces and by using logic and science, shows why you're not getting the truth from them. Of course, this could be why Japan is moving to delete any information from the internet that
In a turning of the tables event, North Korean TV is reporting the seriousness of the radiation. A North Korean expert said, "What is most serious is that even a month after the accident, we see no prospects of getting radioactive leakages under control." For once, most of the world agrees.
Supply chain disruptions, which forced many plants around the world to shutdown, are still a big concern for the global economy and we expect to see the impact of those shutdown in the upcoming quarterly reports. The world's largest auto manufacture however, has restarted all factories in Japan once again albeit at 50% capacity. Toyota is projecting a production loss of 260,000 cars since then.
In sideshow news yesterday, the S&P cut the US debt outlook to negative and China warned the US to get its house in order or else. Again, pay no attention to the man behind the curtain.
Speaking of curtain, Bloomberg is reporting that Dr. Deficit Bernanke will continue with QE to avoid "cold turkey." No surprises here. Quantitative Easing (aka money printing) will likely continue indefinitely. Even if a brief pause of QE takes places, it will begin again. After all, what else can the central banker of the world do for an unsustainable economy but print? Let's hope no more big earthquakes occur around the world, especially in the US - California is the most likely to be hit. The debt ceiling is already being knocked on as national debt is ebbing and flowing by a few billion dollars on a daily basis, but