Monday, July 18, 2011

 

News Links, July 19, 2001

## Global economic meltdown ##
Ratings agencies rattle cages in U.S., Europe
"The credit ratings agencies are again angering governments, but this time they are taking on the big fish of the world economy.
"From Washington to Brussels, Moody's, Standard & Poor's and Fitch have added to the intense pressure on governments trying to deal with crushing sovereign debt."
EU Running Out of Rabbits; 60% of Germans Have "Little or Very Little Trust in Euro"
EU Stress Tests Fail to Convince Analysts
"European banks may have to raise as much as 80 billion euros ($113 billion) of additional capital as the stress tests failed to allay investor concern about a Greek default and governments' ability to bail out their lenders."
The European Bank Stress Test is a Farce
Contagion in Three Forms Now Has Grip on Europe
Berlin Working on Plans for Greek Debt Cut
"The leaders of the euro zone are becoming convinced that the only way to save Greece is to restructure its growing mountain of debt. The only remaining question is how. The German Finance Ministry is analyzing a number of options, including the EU rescue fund purchasing Greek debt."
Europe Imploding (Again): Greek Two-Year Note Yield Surges 213 Bps to Record 35.19%, More Italy Stock Suspensions
UK banks dragged into eurozone crisis as global markets take fright
"More than £5bn was wiped off the value of three of Britain's biggest banks on Monday as global financial markets took fright at the deepening crisis in the eurozone."
Summit may be 'last chance' for eurozone
Gold prices extend gains to record high above $1,600/oz
US Debt Accord Could Slow Gold Rally, but Not for Long
Gold trading booming in Dubai
The World's Biggest Gold Reserves (slide show)
Rand Falls Versus Dollar on Europe Debt, South African Fuel Shortages
The True Elephant In The Room Appears: Trillions In Commercial And Industrial Loans To Europe's Insolvent Countries
South Korea Will Ban Finance Companies From Kimchi Debt for Local Projects
"South Korea's short-term external debt rose $11.7 billion in the first quarter to $146.7 billion, the biggest jump in more than two years, according to central bank data."
Will India escape eurozone's debt contagion epidemic?
The Head Of The World's Biggest Hedge Fund Sees "Economic Collapse" Due To Money Printing By Early 2013
Brazil's boom teeters on personal credit bubble
Brazil stocks extend losses as debt-worries weigh
It looks like 1914 again
"This is how it must have felt in late July 1914 as Europe careened blindly into a war that would shatter its wealth and its culture and nobody knew how to stop it.
"The world we have known since the end World War II, of ever-broadening economic prosperity, is poised for implosion."

## Fault lines/flashpoints/military ##
Iranian navy to dispatch squadron to Atlantic
"TEHRAN, July 18 (UPI) -- Broadening its cruising ranges, the Iranian navy has announced that it will be sending a naval detachment into the Atlantic."
China assails U.S. over Dalai Lama, fallout seen limited
Karzai ally murdered as Nato begins handover
Taliban in Pakistan 'police killing' video
Robbers hold up guests at luxury Rio hotel
Iran Opens Oil Bourse - Harbinger of Trouble for New York and London?
Somali pirates hijack UAE-flagged oil tanker
Russians Are Emigrating In Numbers Not Seen Since The Fall Of The Soviet Union

## Global unrest ##
Police "gun down" rioters in China's Xinjiang, at least 4 dead
Thousands rally in Morocco over reform plan
Tension rises in Tunisia after attacks on police stations
"Six police officers were injured, four seriously, in a series of overnight attacks on police stations and public buildings in cities across Tunisia, the interior ministry said Sunday.
"In the most serious attack, a mob stormed a police station at Menzel Bourguiba, 65 kilometres (40 miles) north of the capital, early Sunday, making off with weapons."
Power outage protested (Pakistan)
"Residents in Karachi's Musa colony protested in the streets against power cuts and went on a rampage by attacking vehicles and buildings."
Fighting erupts in Yemeni capital, six killed
Greek taxis block roads to port, airport in reform protest
23 mob-lynched in 18 months (Bangladesh)
"At least 23 youths were killed in mob-lynch attacks in capital Dhaka and on the outskirts of it in the last 18 months.
"'Such incidents are taking place recurrently as the number of floating people, with little common sense, is on the rise,' said a senior police official on Monday."
Villagers run amok at steel plant site (India)
"Jamshedpur, July 18: Over half-a-dozen employees of Kharsawan-based Corporate Ispat and Alloy Limited, an Abhijit Group subsidiary, and a police officer were injured when irate villagers attacked the project site of the steel plant this morning over rumours about two children being sacrificed."

## Energy/resources ##
Kyrgyzstan Rations Gasoline After Russian Deliveries Halted
Japan, the new darling of Energy speculators
"Speculators now look to Japan for trends in global energy prices as the country has become a huge impact in international crude and gas prices. Japan has been boosting its consumption of oil and gas to compensate for its nuclear power shortage in the wake of the devastating Tsunami."
Another power outage hits Jomo Kenyatta International Airport
"Earlier this morning, East Africa's most important aviation gateway, the Jomo Kenyatta International Airport (JKIA), was again hit by a power outage, delaying incoming and outgoing flights."
Uganda Power Rationing Hits Manufacturers, Coffee Processors
India begins building 25th nuclear power plant
Now taking bets on whether it is ever completed and starts operating. -- RF
Energy prices spike for Bulgaria
Iran says India owes it $5bn in oil import dispute
Water rationing -- 'definite possibility' (Texas)
East Africa drought: Power cuts in Tanzania
"The Tanzanian authorities are imposing severe electricity rationing, to save the remaining water in its hydro-electric dams."

## Infrastructure scavenging ##
State police probing large-scale rail theft
"About 100,000 pounds of train track – worth more than $45,000 – have been stolen from the side of a short-line railroad."
Fast food outlets join scramble for transformer oil

## Got food? ##
Use of chemicals 'threaten grain output' (China)
"The heavy use of agrochemicals has led to a severe deterioration of arable soil and poses a serious threat to domestic grain output."
India food grain output hits record 241 million tons
"Prime Minister Manmohan Singh... said the country still needs a second Green Revolution to meet the mounting future domestic foodgrain demands."
The Coming Global Phosphate Crisis

## Environment/health ##
Dangerous heat wave forecast for half of US
Oklahoma hit by relentless heatwave
"The Governor of Oklahoma has asked for divine intervention and called for a day of prayer as a relentless heatwave bakes the central part of the United States."
How hot is it? Triple-digit heat buckles roads in Oklahoma

## Intelligence/security/internet/systemic breakdown ##
Murdoch Struggles for Control as Scandal Grows
Phone hacking: Sean Hoare, the News of the World whistleblower, found dead
Murdoch's Sun newspaper hit by hackers
DoD releases first strategy for operating in cyberspace
Power outage, client outrage hit Netflix
ATM, Meet KGB: New Russian Cash Machines Can Detect Lies
Google App Engine Cloud Availability Plummets, Sparks Outages

## Japan ##
Typhoon Spurs Tepco to Cover Fukushima
Japan eyes $152 bln in 5-year quake reconstruction costs - media
"On Saturday, Kansai Electric Power Co, which serves western Japan, said it planned to shut down one of its reactors due to technical glitches, further compounding the tight power supply and stifling the nation's manufacturing activity.
"By the end of next week, only 16 of 54 reactors in Japan will remain on stream amid debate on the future role of the nuclear sector."
Japan Chugoku Electric halts 1,000 MW coal-fired plant
"Chugoku Electric Power Co said a shutdown of the 1,000-megawatt Misumi coal-fired plant, starting on Monday, would restrict its regional power supply this summer."
Gov't to discuss electricity shortages in summer this week
Japan plans to ban Fukushima beef
More Cattle Linked to Contaminated Feed
"Local officials in Fukushima prefecture said on Monday that 411 more cattle potentially contaminated with radioactive cesium have been shipped around Japan, a development sure to fuel food-safety fears."
Gang of teenagers injure elderly cyclist with rope

## China ##
Auto market growth comes with price
China's land price up 8.85% in Q2

## UK ##
Army to shrink to smallest size since Boer war while reservists' role bolstered
Scotland Yard top ranks see resignations from phone hacking scandal

## US ##
Foreigners Net Sellers of US Assets in May: Treasury
"Foreigners bought fewer long-dated U.S. securities in May and, including bills and other short-term instruments, were net sellers of all U.S. assets for the first time in 11 months, U.S. Treasury data showed Monday."
Bank Of America Is Tanking Again, As Firm May Need $50 Billion In Fresh Capital
Default 'Off the Table,' Debt Deal Will Be Struck: Geithner
Too Big To Fail?: 10 Banks Own 77 Percent Of All U.S. Banking Assets
After pause, airlines seeking to raise fares again
Airlines' fare hike appears to falter
"Airlines may be reluctant to raise prices if they fear driving away passengers. Growth in traffic dropped during June at the two biggest companies, United Continental Holdings Inc. and Delta Air Lines Inc. Analysts say fear of weakening demand has hurt airline stocks."
Rhode Island Muni Bonds Little Changed Despite More Bad News
Moody's Cut Three Muni-Bond Ratings for Each Upgrade During Second Quarter
Power Outages During Heat Wave In Detroit
Heat wave causes power outages in Twin Cities
Power outage leaves thousands of Northeast Ohioans in the dark
Truck driver shortage has industry concerned
Energy Industries, Old And New, Seek Workers as Labor Shortage Looms
Cisco Layoffs: 11,500 Employees To Be Let Go
Add Another 17,200 To The Unemployment Rolls
Ron Paul wants spending cut, civil liberties protected
United States of Narcissism
Borders Says It Will Liquidate, Close 399 Stores
AP Exclusive: Mortgage 'robo-signing' goes on
Local car dealerships experience Toyota, Honda shortages from Japan disaster
Minnesota government shutdown: Not over yet

And finally...
Anti-swearing law draws expletive-laden protesters
Girls urged to strip to support Vladimir Putin as president
French councillor's wife dressed up as Catwoman in bizarre alleged to murder plot



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