Wait A Minute Wednesday- Fukushima Meltdown Worse Than Chernobyl; Highest Levels Of Cesium In California Milk; TEPCO Says Containment Vessels "May Be Leaking" And Other "Surprises"; 70,000 More Must Evacuate Around Fukushima; Radtiation Levels At Reactor 1 Skyrocket, Much More; Greece Inches Towards Default, Seeks Way Out Of EU; Durable Goods Data Not So Durable; Gold Shines Again; US Debt Ceiling Catastrophe; Much More

After a short hiatus, we're back - and not surprised to see that the circus continues through the night. If you exit the main event for just a minute, you'll see a smaller tent attached to the main tent with the words, "TEPCO." A peek inside reveals some very interesting tidbits of juicy information; the Deputy Director at the Russian Institute for Nuclear Engineering said yesterday, "Fukushima is worse than Chernobyl." This is perhaps even more interesting because that assessment was made before last night's announcement by TEPCO that the containment chambers are leaking at all three reactors and meltdown has occurred. Act surprised. Then watch this. Observe date.

Of course, we reported that the situation at Fukushima was far worse than reported and it has taken them months to slowly admit the truth. Why? As this excellent write up in the Washington Post points out, “Tepco may have wanted to avoid panic," but "now people are used to the situation.” This pattern should be very obvious by now. 

If you connect the dots, you can see that the radiation readings taken by citizens right after the catastrophe indicated very clearly that the worst case scenario occurred before TEPCO even admitted to a problem. In fact, the handling of this whole situation is no longer comical - it's a tragic. For example, last week TEPCO made the public announcement that reactors 1 through 4 would not be able to be used any longer. That in itself says it all about their handling of this situation. Along the same tragic lines, today TEPCO announced that there are holes in the reactors; and yet the radiation readings of 200 Sv/h (that is an astounding two hundred Sievets per hour!) at the drywell of reactor 1 did not already confirm that. We're no nuclear experts, but with the little knowledge we are armed with, know that indeed Fukushima is "Chernobyl on steroids." Gee, maybe they should have evacuated the 70,000 people months ago like we said instead of waiting until now. Why wait? Oh, that's right - people tend to become desensitized over time and thus the reality of the situation doesn't hit home.

While reactor 1 is getting all of the attention lately because of the recent "discoveries," the facts remain that reactors 2 and 3 have experienced full meltdown and the worst is yet to come. This video analysis made by a concerned citizen and blogger says more about what really occurred than 200 "official" TEPCO reports. So unless TEPCO has real circus clowns running the place, they're not telling the truth. Connect the dots - it's much, much worse than reported. And this should concern every person around the world because record levels of Cesium 137 are being discovered in California milk as a study by Berkley University shows. Why is this alarming? Because it shows that for every 1.2 quarts (~1.4 liters) of milk you drink in California, you receive the equivalent dose of radiation as one gets flying from NY to LA roundtrip. Being that Cesium 137 has a long half life and that it's cumulative - it's bad news.

In other radioactive news, the global financial systems are in a meltdown of their own:
- Greece has just about reached their own tipping point of default. That doesn't mean they won't ask for another tranche of their, "loan." As Reuters is reporting, that's exactly what they are doing. It's so bad that even EU insiders doubt they can last another month.
- The US Fed now holds a whopping $1.5 Trillion in US bonds, but Hu's who's counting?
- US debt is growing far faster than the radioactive "economy" is glowing "growing."
- The US has breached the debt ceiling (Shhhh! Don't tell you know Hu who!) Absent MSM.
- Durable Goods orders plummeted 3.6% (and this is with the bullish events from Japan and QE2)
- UK economy "grew" 0.5%, while inflation "grew" 4.7%. Do the math.
- Gold sets new highs priced in Euros. 
- European industrial orders plummet. 
- The impact of storms and catastrophes around the world have yet to realized on an already hyperinflationary food chain.

That's some food for thought.