Sunday, July 10, 2011

 

News Links, July 10-11, 2011

## Global economic meltdown ##
Corporate Earnings Poised for Smallest Gain in 2 Years in U.S.
25 Reasons To Buy Gold And Dump Dollars
What will replace the dollar as global currency? Gold? Renminbi? Maybe commodities?
'Catastrophic damage' if debt ceiling not raised, Geithner warns
IMF chief calls on US to raise borrowing limit
Rescue fund not big enough for Italy: German paper
Italy and Spain must pray for a miracle
Italy Orders Short Sellers to Disclose Positions
Spanish mortgage defaulters face debt nightmare
Eurozone set for a busy summer of crisis talks
Permanently High Plateau Theory Touted for Australia Housing; Real Estate Agents Refuse to Disclose Sale Prices
Dubai to dominate list of tallest residential towers
Oman May inflation at 25-month high; Saudi up in June

## Fault lines/flashpoints/military ##
Organized crime is hijacking Canadian highways: RCMP intelligence report
Gunmen kill at least 20 in Mexican bar - report
At least 40 killed in Mexico in 24-hour period
"Fighting among the Zetas gang and other vicious drug cartels led to the deaths of more than 40 people whose bodies were found in three Mexican cities over a 24-hour span, a government official said Saturday."
Japan mulling purchase of defense satellite from U.S.
"The Japanese government is considering purchasing a U.S. early warning satellite for ballistic missile defense and disaster prevention purposes."
Russia to Spend $730 Billion on New Weapons
Pakistan army says New York Times report is a "direct attack"
US suspends Pakistan military aid as diplomatic relations worsen
Iraq blocs to take two more weeks on U.S. troop issue
"Iraq's fractious political blocs will take two more weeks to decide whether U.S. troops should extend their stay in Iraq beyond a year-end deadline, Iraqi President Jalal Talabani said on Saturday."
Eyeing oil, China's Hu promises strong ties with South Sudan
Ron Holland on the Inevitability of Societal Chaos (Daily Bell)
"Yes, al-Qaeda can be dead or alive, depending on the domestic political situation (whether the US needs a victory or not) and it can mysteriously emerge wherever the US is best positioned to attack another impoverished country to keep the dollars flowing to the military-industrial complex and the Department of Homeland Security complex.
"These are mighty wealth operations. Homeland Security has done to America what the military-industrial complex has done overseas – introduce a continued, destructive strain of authoritarianism to the larger populace. This can be carried out with bombs or body scanners. But the results are the same: repression, intimidation and growing chaos."
HRW urges Germany to rethink Saudi tanks deal
Kadhafi forces counter-attack as rebels cut his oil
Iran says fires missiles to Indian Ocean for first time

## Global unrest ##
SHOCK Jobs Report; Brzezinski warns of Collapse, U.S. Civil Unrest—got Gold?
"Yet, another Soviet Union-born (Poland), Zbigniew Brzezinski, told MSNBS on Thursday he expects the civil unrest in Europe will come to America as a result of of a U.S. economy no longer able to service its debt.
"The former National Security Advisor under President Jimmy Carter predicted 'really serious international turmoil' as a result of the United States, Europe and Japan simultaneously drowning in excessive debt. In the past, slowdowns in any one region were made up by at least one of the others. Today, all three are mired in insurmountable debt burdens, says Brzezinski."
Malaysia fires tear gas at protest, arrests 672
"Police fired tear gas and detained hundreds of activists as more than 20,000 demonstrators massed Saturday across Malaysia's main city demanding electoral reforms in the country's biggest political rally in years."
Malaysia's leader warned: reform elections or risk revolution
"Speaking to a small group of young graduates on Sunday, the People's Justice party leader warned prime minister Najib Razak's government: 'We will have to pursue – in parliament and outside of parliament – free and fair elections, even by rallying unless they change the electoral vote.'
When asked whether Malaysia was in the middle of its own revolution, Anwar said: 'We have no confidence left [in the government], so it is important for Najib to consider seriously that we are close [to that].'"
Police, Islamists clash in Bangladesh, dozens hurt
"Police in Bangladesh Sunday fired tear gas and rubber bullets to disperse Islamist activists trying to enforce a nationwide strike over the removal of a Muslim phrase in the constitution, and witnesses said around 50 people were injured."
Egypt: Clashes erupt in Suez to urge reforms
Cairo protesters block access to official building
Syrian dissidents tell government: 'dismantle the police state'

## Energy/resources ##
India Power Hit by Coal Shortage
Durban power cut crisis looms
"EThekwini officials say they are holding talks with workers in an attempt to avert major power outages in Durban, following an illegal work stoppage at one of the municipality's main depots."
Mozambique Airline Grounds Flights Because of Jet Fuel Shortage

## Infrastructure scavenging ##
Scottish business counts the cost of metal theft
"The theft of £35,000 worth of cable from a BT yard in the south of Scotland is the latest example of an escalating problem facing Scottish businesses."

## Got food? ##
Food Prices Near Record Highs
Biodiversity: Tuna populations verging on collapse

## Environment/health ##
Teenage girls' junk food diet leading to health problems later in life
BP Wants to Limit Gulf Oil Spill Claims
Prescription Drugs Cause More Overdoses in U.S. Than Heroin and Cocaine

## Intelligence/security/internet/systemic breakdown ##
Florida Election Servers Hacked Again
Google on today's massive Google+ spam influx: "We ran out of disk space"
U.S. Suspects Contaminated Foreign-Made Components Threaten Cyber Security

## Japan ##
15% power-saving goal hardly achieved in TEPCO's service area
"There have been only two days so far in July when a 15 percent power-saving goal has been achieved in areas served by Tokyo Electric Power Co., despite the government's campaign to avert a power shortage, according to data released by the utility through Saturday."
No need for blackouts in Tokyo ... yet
Radiation Found in Japanese Cattle
Citizens' radiation fears beyond crisis zone mount
Japan economy quickly recovering from quake, Kaieda tells ASEAN
What a relief! Let the good times roll! -- RF
21% of young men stuck in poverty's slow lane
Ratio Of Operating Nuke Reactors Stands At 36.8% In June
Shikoku utility delays restarting of reactor
Banks to set 400 bil. yen credit line for quake-hit Tohoku Electric
Still another massive cash infusion to a utility so it can keep electricity flowing. -- RF
4 months on, disaster debris still a huge, smelly problem
TEPCO halts water decontamination system after chemical leakage
Fukushima cleanup may take decades
It's a safe bet that TEPCO won't even be in existence then. And it's highly likely that even the government won't exist in its current form. -- RF
Heatstroke surge feared as people save power
Survey: 30% quake-related loans in arrears

## China ##
No quick solution to China's power shortage
"China has been widening its electricity-rationing measures and raising the prices of non-civilian use of power, an indication that it is facing an unusual power shortage that is likely to continue."
Chinese inflation hits three-year high
Woman's leg is cut off by falling sheet of glass
Power shortage won't hit Xiamen this summer, says official
China's Bumpy Road Ahead
"Unrest, inflation and an aging populace stand in the way of the Middle Kingdom's touted domination"
Chinese Exports Surge To Record, As Trade Surplus Comes At Almost Double The Consensus: More Bad News For US GDP?

## UK ##
House prices: inflation wipes thousands off property values
British Gas raises its energy prices by nearly a fifth

## US ##
Tire buyers see some shortages
Energy Companies Launch Troops to Energy Jobs Initiative
"With nearly 40 percent of the nation's energy workforce either eligible for retirement or departing their jobs because of attrition during the next five years, electricity and natural gas companies and the nuclear power industry are facing a potential worker shortage."
A Labor Shortage for U.S. Nuclear Plants
Oh, and did I mention the worldwide shortage of engineers and skilled workers? Sit back, chill, and watch industrial civilization crumble, because there's nothing you can do to stop it. -- RF
Retailers battle sophisticated shoplifting teams
"Stung by a new breed of sophisticated thieves, the nation's major retailers are fighting back.
"These well-organized crime rings have added tough new challenges for merchants who have long contended with petty shoplifters and their own light-fingered employees.
"Although those concerns remain, retail chains today are plagued by gangs of highly specialized thieves who steal thousands of dollars of merchandise at a time and sell the goods for profit."
Flights resume from Charlotte after power outage
Final shuttle mission: Who'll supply the International Space Station now?
End of Space Shuttle Program To Have Far Reaching Impact
Broke Rhode Island Town Asks Unions For Pension Cuts To Avoid Bankruptcy
Public cemeteries raising fees
"Cities and counties across the United States say rising costs and more cremations are forcing them to raise fees for plots and burials in public cemeteries."
Black Communities Struggle With Mass Joblessness
Blacks' economic gains wiped out in downturn
Cuyahoga Sheriff targets trouble-making 'flash mobs'
Short Film 'No Joy' Features Abandoned Amusement Park (very poignant)
What Stops -- and What Doesn't -- When a State Government Shuts Down?

And finally...
Monkeys are threatening to overrun India's top hospital after learning how to operate the newly-installed automatic doors.
Video: Boy's body acts like magnet, attracts metal




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