Monday, November 01, 2010


News Links, November 2, 2010

-- Global economic meltdown --
Yemen 'on edge of collapse' warns UK development minister
Angela Merkel consigns Ireland, Portugal and Spain to their fate (Ambrose Evans-Pritchard)
Portuguese Parties Agree on Austerity Plan That May Hurt Growth
MPs to debate austerity bills under legislative emergency (Czech Republic)
Irish Health Minister Gets Doused In Red Paint For Having Austerity "Blood On Her Hands"
China May Face Big Drop in Growth Within Four Years, CIC's Lou Jiwei Says
DPJ fails to find funds for its election pledges (Japan)
Sewage systems running into serious financial problems (Japan; link in Japanese)
*Many municipalities issued bonds and built large-scale sewage systems in anticipation of growing populations and tax receipts. Now they're in danger of bond defaults from declining tax revenues and reduced public-works grants from the national government.
¥660 million in subsidies to prop up regional airports (Japan; link in Japanese)
With Eco-Subsidies Gone, Domestic New-Car Sales Fell 23% In Oct (Japan)
Bank of England Chief Proposes Eliminating Fractional Reserve Banking
"Eliminating fractional reserve banking explicitly recognises that the pretence that risk-free deposits can be supported by risky assets is alchemy."
Are Asian Traders Preparing A Major Squeeze Of Silver Shorts?

-- Fault lines/flashpoints/military --
US Air Force searching for answers as air refueling budget cuts loom
Japan: Russian president visit to isle regrettable
*Japan can regret all it wants; the Russians are not giving the islands back.
More turf wars for Japan after Russia's Medvedev visits disputed Kuril Islands
Nato tankers come under gun attack in Pakistan
Cargo plane bomb plot: computer printer shows al-Qaeda's sophistication
Yemen frees parcel bomb suspect
Shadow War in Yemen Could Heat Up After 'Printer Bomb' Scare
Did Iran know about the Yemen terror plot?
Yemen Opposed to Presence of Foreign Forces
Flight ban on freight from Somalia
Five reasons it will be hard for Yemen to 'destroy' Al Qaeda franchise
Nicolas Sarkozy 'among targets of Greece parcels bombs'
New Zealand facing defense cuts
Bolivia, Iran seek closer military ties
Indian navy strengthening ASW capabilities
Will North Korea Bomb the G-20?
Iran envoy: atom bomb would be strategic mistake
Churches set ablaze in Russia's Muslim Caucasus

-- Energy/resources --
No chance for nukes in a penny-pinching world
"The truth is, there is no money for low-carbon energy."
Wind Power Projects Affected by Financial Crisis
Wind Power Losing its Allure to Investors
Price of condoms, tyres and rubber gloves to soar
Bangladesh Tyre Industry Facing Severe Energy Crisis
Young algae industry getting government push (US)
US Coal to Gasoline Plant Will be the Largest in the World
Exxon, Cosmo Oil May Shut Refineries in Japan, Analysts Say
Saudi sees Asia dominating energy demand growth
Diesel shortage likely to hit Private Mobile Companies (India)
India predicts 40% leap in demand for fossil fuels

-- Got food? --
Food Inflation Accelerating as Cooking Oil Poised to Catch Grains
Food Price Increases: The Rising Cost of Survival
'Peak Phosphate' Spells End of Cheap Food
U.S. adults eat 150 pounds of sugar/yr., many are addicted

-- Environment/health --
Analysis: Climate Phenomenon May Grip Europe This Winter
NOAA and FDA Announce Chemical Test for Dispersant in Gulf Seafood;All Samples Test Within Safety Threshold
Russia's Troubled Waters Flow With The Mighty Volga

-- Intelligence/security/internet --
Air travel facing 'ludicrous' security following mail bomb plot, CEO says
Fixing cargo security system would cost billions
Internet 'gives militants access to top-level spy systems'

-- UK --
Alcohol 'more harmful than heroin or crack'
Schools in Wales gain power to search pupils for weapons
Graduate unemployment at highest level for 17 years
Don't need that fuel subsidy? In Britain, you can donate it.
UK House Prices Turn Negative for Year: Survey
David Cameron admits difficulties in getting banks to lend more

-- US --
QE2 Is Not A Recovery Plan, It's A Stealthy Scheme To Prepare For The Next Bank Bailout
Fed Likely to Announce $500 Billion of Purchases, Survey Shows
Treasury Anticipates $700 Billion Gross Borrowing Need By End Of March 2011, To Bust Debt Ceiling In Q1
All This Talk Of Inflation Is Madness, DEFLATION Is Still The Big Threat
When Fear Takes Over: The Prospect of Hyperinflation (Bill Bonner)
"Hyperinflation... comes not from an increase in demand for things…not from greed, that is…but from FEAR…raw, naked, unadulterated fear that paper money is losing its value."
The Ten Biggest American Cities That Are Running Out Of Water
Water shortage: Soon We'll Be Drinking Recycled Pee; Some of Us Already Are
Insider Selling Surges To Multi-Month High, Hits $662 Million
Rise in college costs hits public schools hardest

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