Friday, July 01, 2011


News Links, July 2, 2011

## Global economic meltdown ##
Asia factory growth fades as new orders dry up
"Sagging export demand cooled Asian manufacturing activity in June, surveys released on Friday showed, reinforcing concerns that a slowdown in the United States and Europe was sapping world economic growth."
Euro Zone Factory Growth Slows as Orders Dry Up
"Growth in the euro zone's manufacturing sector lost steam last month as exports slowed to a trickle and domestic demand all but dried up, while the region's weaker economies appear to be slipping back into recession, a key survey showed on Friday."
Stagflation Goes Global Again - UK And China Join Worldwide Manufacturing Slowdown
China June PMI Hits 28-Month Low, Tighter Policy Bites
South Korea Inflation Hits Three-Month High
It's China's turn to wrestle with a pile of bad debt
"Massive infrastructure spending has created a mountain of bad loans."
Italy still faces debt risk despite austerity: S&P
Youths in Italy face high jobless rate
The World Economy Is Rolling Over
Dubai malls to open for longer in bid to boost sales
Asian makers: Honda, Toyota sales slammed by tsunami shortages
US multinationals struggling to fill over 2,000 posts
"US MULTINATIONALS are currently trying to recruit more than 2,000 people in Ireland but are struggling to fill vacancies because of a skills shortage in science and technology."

## Fault lines/flashpoints/military ##
U.S. rejects demands to vacate Pakistan drone base
Drone strikes show Pakistan still cooperating with U.S.
Strauss-Kahn case is 'close to collapse', say reports
Ex-IMF head Dominique Strauss-Kahn freed without bail
Russia to supply nuclear submarine to India-RIA
AFRICOM: AF, Navy still flying Libya missions (Air Force Times)
"Air Force and Navy aircraft are still flying hundreds of strike missions over Libya despite the Obama administration's claim that American forces are playing only a limited support role in the NATO operation.
"An Africa Command (AFRICOM) spokeswoman confirmed Wednesday that since NATO's Operation Unified Protector (OUP) took over from the American-led Operation Odyssey Dawn on March 31, the U.S. military has flown hundreds of strike sorties. Previously, Washington had claimed that it was mostly providing intelligence, surveillance and reconnaissance (ISR) and tanker support to NATO forces operating over Libya."
Are Mexican drug cartels escalating attacks against US border officials?

Electricity shortage sparks riots in Dakar
"Protests broke out over power cuts in the Senegalese capital Dakar on Monday night. Demonstrators are reported to have burned four vehicles and part of a building belonging to the state electricity company Senelec. There were also reports of stone-throwing and attacks on other officials buildings."
Georgia imposes restrictions on public protests
Pakistanis should go "to the streets" for Islamic rule: Party
"Hizb ut-Tahrir, a global Islamist party banned in many Muslim states, said on Friday Pakistanis should take to the streets to call for Islamic rule and join a campaign to end subservience to Washington that was advancing 'from Indonesia to Tunisia.'"

## Infrastructure scavenging ##
Here Today, Copper Gone Tomorrow
"Throughout the nation and here locally, copper thefts are continuing to rise. So much so that in a New York Times article, the FBI referred to them as 'a threat to the nation's baseline ability to function.' The Department of Energy estimates copper thefts cost the nation almost $1 billion per year, according to the Coalition Against Copper Theft."

## Intelligence/security/internet/systemic breakdown ##
Lockheed Martin expands cyber-security services for energy sector
Japan braces itself for hottest summer on record
"Japan is bracing itself for the hottest summer on record, leading to fears that thousands of people will die as the government limits the use of air conditioning."
Tokyo Electric Power revised downward its projected available power at the end of August. Due to the difficulties of restarting nukes and getting power from other utilities, it will have 600 MW less power.
"The unemployment figure, however, hid the seriousness of the nation's labor conditions as data from the three prefectures hit hardest by the March disaster -- Iwate, Miyagi and Fukushima -- were excluded from the nationwide survey."
Snapshot of the future. -- RF
"TOKYO—A former nuclear adviser to Japanese Prime Minister Naoto Kan blasted the government's continuing handling of the crisis, and predicted further revelations of radiation threats to the public in the coming months...
"And while there have been scattered reports already of food contamination—of tea leaves and spinach, for example—Mr. Kosako said there will be broader, more disturbing discoveries later this year, especially as rice, Japan's staple, is harvested."

## China ##

## UK ##
More UK Horror, As Manufacturing Index Hits 21-Month Low On New Order Plunge
Migrants 'take the jobs from young Britons'
Wind power numbers down in Britain
"The amount of electricity generated by U.K. wind farms fell last year because of the lowest average wind speeds this century, government statistics show."
London gets gold vending machine

Judges uphold cost-of-living cuts to pensions
"Decisions by district court judges in Colorado and Minnesota supporting public pension benefit cuts could encourage other states to join a gathering movement to roll back cost-of-living increases for current retirees."
Los Alamos fire now New Mexico's biggest ever
"Recent wildfires could be 'at least as severe and maybe more so than anything we've seen since the last Ice Age,' geologist says."
"A group of Republican lawmakers have called on President Obama to release a plan on how the administration intends to refill the U.S. emergency oil stockpile.
"They denounced Obama's June 23 decision to provide half of the 60 million barrels released by International Energy Agency countries in response to the disruption of Libyan sweet crude, saying it raises 'serious concerns' about the administration's energy policy."
Managing Director of Sovereign Ratings at S&P on Possible US Debt Downgrade to "D" Default if Debt Ceiling Not Raised
Record 44.7 Million People Celebrate Geithner's Departure And The End Of QE2 Through Foodstamps
California politician wants 13 counties to secede … from California
Pharmacies Deal with Prescription Drug Shortages
"Manufacturing delays, quality issues and discontinuations have caused a nationwide shortage of many different types of drugs."

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