Editors Note: Various delays in editing have forced us to publish a condensed version of today's original article, with less commentary than usual. We apologize for the inconvenience and lack of enzymatic sarcasm necessary for proper financial news digestion.
Update 1: Levee fails in Hamburg, flash flood warning in effect.
Update 2: This is becoming tedious - Greece gets another downgrade. Barely a word from MSM.
Today's article begins with special commentary from "The Economic Collapse Blog," which highlights 12 more signals that society is collapsing. Even now, rural areas are being plagued with crime and violence, no doubt a direct result of McDonald's hiring only 62k people for minimum wage hamburger flipping jobs, when over 1 million applied and failed to catch the early worm. Welcome to the new game of Employment Musical Chairs in the year 2011.
It never seems to surprise us that American main stream media makes little or no mention of the violence taking place across the nation. What does surprise us is how the Chinese media seems to easily pick up on the reality here in the U.S as this article highlights.
Of course, economic problems lead to social unrest as can be seen in Greece, Ireland, Italy and Spain. We like to use the CDS spreads as a direct indicator of social tensions which develop quickly. Take note of today's CDS spreads and bond yields of the PIIGS.
All things Fukushima are now officially old meat for U.S. main stream media and don't even deserve a mention in an editorial lately. However, as we have reported and will continue to do, the news from Fukushima continues to spew out like the radiation leaking into the environment. All of which, has gone from bad to worse.
Arnie Gundersen in his weekly address, gives warning to those living in Japan as well as those on the West Coast as people in Japan and the U.S. West Coast report metallic taste in their mouths - a direct indicator of radiation exposure.
For the first time, strontium 90 has been detected in ground water and in sea water in Japan, and the results are even more telling.
If that news has got you down, perhaps you should read this translated article from Energy News. The real punchline comes from the Head of the Fukushima Health Study, who said this about 100 mSv/year radiation on pregnant mothers to be - "Effects of radiation do not come to people that are happy… They come to people that are weak-spirited." So there you have it - "happy people" are immune to the effects of radiation levels that pre-March 11th were considered dangerous for nuclear power plant workers, but all of a sudden are safe for expecting mothers. Which of course explains why the Japanese gov't chose that "expert" to head the health study on Fukushima. Further, if you didn't read this last week, please read it again. It is one of those little things that really show who's interest the gov't is looking out for. Everything is about money and nothing else.
Finally, as an update to last week's CME, we get news from New Zealand that a major M6.0 EQ has struck Christchurch again last night, Sunday the 12th, with confirmed reports of injuries and major damage. Additionally, a major volcanic eruption from Nabro and 3 other volcanoes that have been inactive for 30k years are interesting coincidences. Just something to look out for.