Sunday, June 05, 2011


News Links, June 5-6, 2011

## Global economic meltdown ##
Tumult in Tech Supply Chain May Be Long-Lasting
Yuan expected to become major world currency
Escaping the Clutches of the Financial Markets (Spiegel)
"In today's Europe, the people are no longer in control. Instead, politicians have become slaves to financial institutions and the markets."
Spiegel Reports Greek Bailout #2 To Surpass €100 Billion
Lagarde likely to be next IMF chief: report
Analysis: Japan effect can't fully explain global soft patch (Reuters)
Iata expected to cut its forecast for airlines' profits
The Greek Debt Problem "In Simple Mathematics"
W.Bank to suggest CO2 levy on jet, shipping fuel
IMF Agrees to $3 Billion Egypt Loan for Post-Mubarak Transition
Paris Luxury-Home Prices Increase 22%, Fastest in World, Knight Frank Says
Brazil Likely To Lift Rates Amid Inflationary Pressures
No Money to Pay 70,000 Employees In Castilla-La Mancha Region of Spain: Situation a "Total Failure"
Unrealistic prices deter MENA real estate buyers

## Fault lines/flashpoints/military ##
Canada to expand military reach with new facilities across globe
"The Canadian military is in talks to establish a permanent presence in up to seven foreign countries, the Minister of Defence confirmed on Thurday, marking the first time since the end of the Cold War that Canada has aimed to expand its military reach around the globe."
China Reassures Its Neighbors After Clashes Over Claims in South China Sea
US pledges wider military presence across Pacific Rim
More mass graves unearthed in Mexico
Gates Warns of South China Sea Clashes Without Code of Conduct Agreement
Ilyas Kashmiri killed in drone attack
Hague meets Libyan rebels as Apache attacks intensify assault on Gaddafi
William Hague admits Libya campaign could continue beyond Christmas
Special Report: Scourge of the High Seas, 21st Century Style
Vietnamese take to streets against Beijing's incursions in the South China Sea
Vietnam protests China's threats to sovereignty (Vietnam News Agency)
"Vietnam has demanded that the Chinese side immediately cease actions that violated its sovereignty and hindered Vietnamese fishing boats and fishermen operating in the waters of Vietnam's Truong Sa (Spratly) archipelago."
Vietnam Confirms Kilo Sub Buy at Shangri-La
"Vietnam will procure six Russian-built Kilo-class attack submarines 'to defend' the country. Vietnam's Defense Minister, Gen. Phung Quang Thanh, made the comment June 5 at the 10th Shangri-La Dialogue in Singapore 5."
Gunmen attack presidential palace in Yemen
Yemen: this volatile tribal country represents the gravest threat to Western security
"British intelligence has warned that Yemen poses the gravest single threat to national security as the departure of President Ali Abdullah Saleh raises the stakes for Western allies."
Bombs hit Iraq oil tanks in rare southern attack
"A bomb attack against an Iraqi oil storage depot set one tank ablaze on Sunday in a rare assault on strategic southern oilfields, but the country's crude exports were unaffected, Iraqi oil officials and police said."
Venezuela: Relations with US are 'frozen'

## Global unrest ##
Israel on high alert for possible border unrest
Israeli troops battle protesters in Syria, 20 dead
Syrian Tanks At Restive City; More Die In Protests
Furious Greeks Pack Streets to Protest Austerity Proposals
Thousands Rally in Hong Kong for Human Rights
66,000 new jobs on the way -Saudi king

## Energy/resources ##
Belize national grid goes down
Guam: 3rd island-wide blackout in 8 months
Fuel shortage woes hit Emarat stations in northen emirates
Drivers fume amid fuel shortages (UAE)
"Witnesses narrated dramatic scenes at pumps across Sharjah yesterday, with waits of up to 45 minutes. Many motorists reportedly abandoned their cars by the roadside."
Diesel Shortage Forces Railway to Cancel Most of its Travel Schedules (Mongolia)
Sail Transport Network is Unfurling
World's Greatest Power Thieves Keep 400 Million Indians in Dark
"About one-third of the 174 gigawatts of electricity generated in India annually is either stolen or dissipates in the conductors and transmission equipment that form the country's distribution grid."
The energy limit model to economic growth
More great insights from Gregor Macdonald. Must read. -- RF
Nuclear power is expensive and uninsurable
The "nuclear renaissance" is DOA. -- RF
OPEC Overshadowed by Qaddafi in Most-Hostile Meeting Since 1990 Gulf War
Commodity Bubbles Caused by Speculators Need Intervention, UN Agency Says
Blaming high prices on speculators has gotten completely out of hand. Don't these experts see any problem with the increasing number of people competing for dwindling resources? -- RF
China on Latin American buying spree to lock in long-term needs in oil, minerals, food
Coal export plan could hit Eskom supplies
Mexico's largest oil fields stave off natural decline
"Mexico's two largest oil fields can maintain current output for longer than previously believed, staving off a natural decline threatening industry sustainability, state monopoly Pemex said."

## Got food? ##
For Egypt, China is threatening the Nile
"By buying land in Sudan and Ethiopia to raise grain, China is threatening to appropriate Egypt's water source."
When push comes to shove, starving people will take back the farmland, even if it's been rented or sold to other countries. -- RF
Phosphate: An Essential Part of the Food Equation
Wheat Fields Wilt in Drought as Parched Earth Spreads From China to Kansas
It's highly unlikely that Russian exports will be able to make up for reduced harvests elsewhere. -- RF

## Environment/health ##
Ariz. fire burns summer cabins, forces evacuations
E. coli outbreak bug genes look super aggressive
E coli outbreak: German hospitals struggling to cope
Water shortages possible in 12 Oklahoma watersheds
Drought spurs typhus cases in Texas
Global warming crisis may mean world has to suck greenhouse gases from air
Grand technofix... which of course will consume still more energy. -- RF
Forest fires expanding in Siberia

## Intelligence/security/internet/systemic breakdown ##
Syrian government enacts countrywide internet black out
A huge hidden problem: complexity
This is about companies, but applies to governments as well. -- RF
Sony Europe Hacked: 150 Accounts Compromised
Hackers attack Nintendo's servers in United States
Anonymous claims control of Iranian gov't servers
Wedded to the warlords: NATO's unholy Afghan alliance

## Japan ##
Japan nuke plant gets tanks for radioactive water
Fukushima Reactor No. 1 more radioactive than ever
Japan Air Sees 'Very Long' Wait for U.S., Europe Sales Rebound After Quake
"Japan Airlines Co., the nation's flag carrier, said ticket sales in Europe and the U.S. were lagging behind forecasts and would take a "very long" time to recover from the March 11 earthquake and tsunami."
Computer industry races to release energy-saving products ahead of feared power shortages
TEPCO to see Y570 bil net loss, excluding nuclear compensation
Gov't OKs incinerating, burying radioactive rubble in Fukushima
Amid the ruins, a fisherman contemplates a daunting future
Nomura slashes cash bonuses as earnings struggle

## China ##
Gas Power Plants Lacking Supply, While China Being in Electricity Shortage
Housing land sales down 14%
China's railway ministry gears up to help ease power shortage
Fish farmers hit by drought
China's Drought: A Game Changer?
China may stop raising interest rates soon
"China's recent interest rate hikes may soon come to an end, but another rate increase is still possible before the end of this month, according to Lian Ping, chief economist for the Bank of Communications."
China Car Sales Tumble For Second Month In A Row, As Goldman Sees Spike In China Inflation To Multi-Year Highs

## UK ##
Report warns of 'new generation' Islamic militants radicalised in back streets
A third of Britons spend £2,555 over their pay
Vince Cable warns unions strikes could spark clampdown on industrial action
"The business secretary, Vince Cable, will issue a warning to the country's union chiefs that if they ratchet up strikes opposing the coalition's cuts the government may be forced to make it harder for them to embark on industrial action."

## US ##
U.S. Profit Forecasts May Be Too Rosy (WSJ)
Thieves Cost Colorado Springs $300K In Copper Thefts
Survey: Cargo theft bigger concern than terrorism
Skyrocketing Employee Costs Drive Another California City To The Edge Of Bankruptcy
Republican Ron Paul Dismisses Boehner's Dollar-for-Dollar Debt-Cut Demand
"Republican presidential candidate Ron Paul dismissed House Speaker John Boehner's call for spending cuts to match any increase in the federal debt ceiling. A fiscal catastrophe is coming whether or not the country exhausts its borrowing power, he said."
One-in-Four Workers Can't Afford to Take a Vacation, CareerBuilder Survey Finds
Tight job market for college grads
The postal service is running out of options
Wars in Middle East creating ammo shortage for N.J. police departments
Drug shortages rise in hospitals
"It's just a matter of time now before we call for a drug that we need to save a patient's life and we find out there isn't any."
Heat Leads To Rise in Metro Escalator Outages
Man attacked by mob of Chicago youths
Cash-strapped states tap foundations for health law help
"Short on cash and time, officials in California and at least a dozen other states have turned to philanthropies to help pay for the extra work required under the federal health law."
Wisconsin Issuer Roils Muni Field
More trouble for munis down the road. Have you seen bondholder haircuts done with a buzz saw? -- RF
Strapped States Curb Spending on Safety Net
"At least half the states have begun to rein in safety-net programs that swelled during the downturn, even as high unemployment and slow job growth persist."
Detroit's disappearing classrooms (CNN video)
America's hidden unemployment problem
Half of Last Month's New Jobs Came from a Single Employer — McDonald's

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