Yearly Archives: 2013

Fukushima apocalypse: Years of ‘duct tape fixes’ could result in ‘millions of deaths’

"It will be hot, uncomfortable, your senses shielded, and you would be filled with anxiety. You are standing on a building that is close to collapse. Workers will have to be removed and replaced often. So you don't have the benefit of doing such a critical task and knowing and trusting your comrades, as they will frequently have to be replaced when their radiation dose limits are reached. If they exhibit physical or mental signs of radiation exposure, they will have be replaced more often. It will be one of the worst, but most important jobs anyone has ever had to do. And even if executed flawlessly, there are still many things that could go wrong. " Continue reading →

Continue ReadingFukushima apocalypse: Years of ‘duct tape fixes’ could result in ‘millions of deaths’

Japan’s nuclear crisis deepens, China expresses ‘shock’

"The U.N.'s International Atomic Energy Agency (IAEA) said on Wednesday it viewed the situation at Fukushima 'seriously' and was ready to help if called upon, while nearby China said it was 'shocked' to hear contaminated water was still leaking from the plant, and urged Japanto provide information 'in a timely, thorough and accurate way'. The plant's operator, Tokyo Electric Power Co, or Tepco, has been criticized for its failure to prepare for the disaster and has since been accused of covering up the extent of the problems at the plant. After months of denial, Tepco recently admitted the plant was leaking contaminated water into the Pacific Ocean." Continue reading →

Continue ReadingJapan’s nuclear crisis deepens, China expresses ‘shock’

Japan’s nuclear crisis deepens, China expresses ‘shock’

"The U.N.'s International Atomic Energy Agency (IAEA) said on Wednesday it viewed the situation at Fukushima 'seriously' and was ready to help if called upon, while nearby China said it was 'shocked' to hear contaminated water was still leaking from the plant, and urged Japanto provide information 'in a timely, thorough and accurate way'. The plant's operator, Tokyo Electric Power Co, or Tepco, has been criticized for its failure to prepare for the disaster and has since been accused of covering up the extent of the problems at the plant. After months of denial, Tepco recently admitted the plant was leaking contaminated water into the Pacific Ocean." Continue reading →

Continue ReadingJapan’s nuclear crisis deepens, China expresses ‘shock’

Japan nuclear agency upgrades Fukushima alert level

"Japan's nuclear agency has upgraded the severity level of a radioactive water leak at the Fukushima plant from one to three on an international scale. Japanese reports say it is a provisional move that had to be confirmed with the IAEA, the UN's nuclear agency. This week is the first time that Japan has declared an event on the Ines scale since the 2011 earthquake and tsunami. The move was announced in a document on the agency's website and was subsequently approved at a weekly meeting of the regulatory body. Shares of plant operator Tokyo Electric Power Company (Tepco) fell as much as 13% to 537 yen." Continue reading →

Continue ReadingJapan nuclear agency upgrades Fukushima alert level

Japan nuclear agency upgrades Fukushima alert level

"Japan's nuclear agency has upgraded the severity level of a radioactive water leak at the Fukushima plant from one to three on an international scale. Japanese reports say it is a provisional move that had to be confirmed with the IAEA, the UN's nuclear agency. This week is the first time that Japan has declared an event on the Ines scale since the 2011 earthquake and tsunami. The move was announced in a document on the agency's website and was subsequently approved at a weekly meeting of the regulatory body. Shares of plant operator Tokyo Electric Power Company (Tepco) fell as much as 13% to 537 yen." Continue reading →

Continue ReadingJapan nuclear agency upgrades Fukushima alert level

What Is Going To Happen If Interest Rates Continue To Rise Rapidly?

"If interest rates continue to rise rapidly, it will be more expensive for the U.S. government to borrow money, it will be more expensive for state and local governments to borrow money, the housing market may crash again, consumer debt will become more expensive, junk bond investors will be in for a world of hurt, the stock market will experience a tremendous amount of pain and there is a good chance that we could see the 441 trillion dollar interest rate derivatives bubble implode. And that is just for starters. So yes, we all need to be carefully watching the yield on 10 year U.S. Treasuries." Continue reading →

Continue ReadingWhat Is Going To Happen If Interest Rates Continue To Rise Rapidly?

What Is Going To Happen If Interest Rates Continue To Rise Rapidly?

"If interest rates continue to rise rapidly, it will be more expensive for the U.S. government to borrow money, it will be more expensive for state and local governments to borrow money, the housing market may crash again, consumer debt will become more expensive, junk bond investors will be in for a world of hurt, the stock market will experience a tremendous amount of pain and there is a good chance that we could see the 441 trillion dollar interest rate derivatives bubble implode. And that is just for starters. So yes, we all need to be carefully watching the yield on 10 year U.S. Treasuries." Continue reading →

Continue ReadingWhat Is Going To Happen If Interest Rates Continue To Rise Rapidly?

Someone Is Lying

"Existing home sales beat expectations by the most since February 2010 surging 6.5% MoM to its highest SAAR level since March 2007. Sound right? Of course, this is defended by the ever-honest NAR by a sudden panic surge of buyers as rates rose. However, we just wonder how sustainable this is (given the chart below). Judging by the NAR's history of revisionism, we suspect we know who is not telling the truth, the whole truth, and nothing but the truth. So all cash buyers? Pulling forward demand? Sustainable trend? You decide." Continue reading →

Continue ReadingSomeone Is Lying

Someone Is Lying

"Existing home sales beat expectations by the most since February 2010 surging 6.5% MoM to its highest SAAR level since March 2007. Sound right? Of course, this is defended by the ever-honest NAR by a sudden panic surge of buyers as rates rose. However, we just wonder how sustainable this is (given the chart below). Judging by the NAR's history of revisionism, we suspect we know who is not telling the truth, the whole truth, and nothing but the truth. So all cash buyers? Pulling forward demand? Sustainable trend? You decide." Continue reading →

Continue ReadingSomeone Is Lying

The FED’s $500 Billion/Year Mortgage Subsidy Has Backfired

"Mortgage applications decreased 4.6 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending August 16, 2013. The Market Composite Index, a measure of mortgage loan application volume, decreased 4.6 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 5 percent compared with the previous week. The Refinance Index decreased 8 percent from the previous week. The Refinance Index has dropped 62.1 percent from the recent peak reached during the week of May 3, 2013." Continue reading →

Continue ReadingThe FED’s $500 Billion/Year Mortgage Subsidy Has Backfired