Monday, July 25, 2011


News Links, July 26, 2011

## Global economic meltdown ##
Greece rating cut by Moody's amid default warning
Singapore Inflation Quickens to Fastest Pace Since January on Food Prices
Italian Banks Getting Dumped For The Second Straight Day Since Europe Was "Saved"
Sea of Red in Asia, China Down Nearly 3 Percent
Italy Cancels August Bond Auction
India's Data Worries Need Urgent Solution
"India's policy makers are getting increasingly worried about the poor quality of data that forces multiple revisions to important numbers and befuddles economists and investors. How New Delhi deals with this will be key in trying to revive India's weakening macroeconomic fundamentals."
India banks prepare for another rate hike
Jim Rogers: "The US Has Already Lost Its AAA Status...I Am Short The US Bond Market As We Speak"
When Default is a Mathematical Certainty

## Fault lines/flashpoints/military ##
Germany makes £88 million available to Libyan rebels
No permanent U.S. bases in Afghanistan: U.S. ambassador
Norway attacks put spotlight on Europe's right-wing parties. Who are they?
Canada goes ahead with Arctic patrol ships
'The Knights Templar': Mexico's newest drug cartel
Chinese fighter jets 'repel' US aircraft (FT)
"Two Chinese fighter jets crossed an unofficial dividing line in the Taiwan Strait late last month in pursuit of a US spy aircraft, according to defence sources in Taipei and Beijing."

## Global unrest/mob rule ##
Teenaged mob invades south Ottawa grocery store
"Night staff at a south side grocery store were startled Saturday by an invasion by a mob of teenagers who rushed in and proceeded to knock items off the shelves.
"'It happened so quick that no one had time to react to it,' said Derreck Dean, 22, the store's closing manager. 'Everyone was just in complete awe, in complete shock.'"
Mass protests continue in Spanish capital
Assad sacks governor following huge protests
Fresh Karachi violence leaves 44 dead in three days
Ireland: Protest against IMF/EU austerity
The protests you aren't seeing (DoD Buzz)
"The antiwar movement is active across the country, protesting against the U.S. involvement in Libya, Iraq, Afghanistan and Pakistan, but mainstream news organizations barely report on it anymore, according to a report by a Harvard University press watchdog."
Drone Usage on the Rise in Conflicts Worldwide
South Euclid police monitoring for potential flash mobs
Strike at BHP's Escondida copper mine continues, fears of unrest will spread
Unrest Spreads Across Africa with Strikes, Rallies, Attempted Coups
Malawi protesters threaten more demonstrations
Police fire tear gas to break up Sudan water demos
"Police used tear gas in Khartoum on Friday to break up three separate protests at the lack of running water, witnesses said, two days after a similar demonstration in neighbouring Gezira state."

## Energy/resources ##
U.S. heat wave causes new look at nuclear energy
Kenya Power announces rationing for industrial customers
Oil at $120 Becomes Biggest Energy Bet
"The number of contracts held by traders in options to buy West Texas Intermediate crude at $120 a barrel in December totaled 45,502 lots on the New York Mercantile Exchange as of July 21, 4,226 lots more than the next-highest wager, which is for $125."
World Oil Supplies as Reported in EIA's most recent International Energy Statistics (The Oil Drum)
"Since my previous post back in February 2011 on this subject, the big picture remains with stagnant world crude oil supplies in the face of rising oil prices."
China investing in South Korean power grid
"A just-released financial report states that China's omnivorous search for foreign power sources will benefit South Korean companies, including the LS Group conglomerate."
IEA, OPEC friction developing?
Mongolia: Ulaanbaatar Subjected to Moscow's Energy Arm Twisting
Crude Is Going Back to $150, Own Big Oil Stocks: Fund Manager
Japan to test-drill for seabed 'burning ice'
Impacts of shale gas and shale oil extraction on the environment and on human heath - Report
Giant copper mine strike drags into day 4, no signs of stopping

## Got food? ##
U.S. farm subsidies fading due to high grain prices
Fertilizer costs threaten China's food security
"The continuously rising price of potash fertilizer is constraining the country's agricultural development, the Economic Information Daily reported Monday.
"According to the international potash fertilizer price negotiation disclosed on June 30, the CIF (cost insurance and freight) price of potash fertilizer for import into China was set at $470 per ton for the second half of this year. The price has risen $70 per ton compared to that of the first half of this year, a price increase of 17.5 percent, the newspaper reported."
China's effort to muzzle news of train crash sparks outcry
"(Reuters) - Government directives demanding journalists not question official accounts of a deadly high-speed train crash in eastern China are fueling public anger and suspicion about conflicting details of the accident, such as the death toll."
Food price gains in 2012 hinge on weather

## Environment/health ##
Haiti again caught in cholera's grip
Heatwave breaks records in parts of US and Canada

## Intelligence/security/internet/systemic breakdown ##
Fallacies of the Cloud: Magical New Technology Still Subject to Human Error
Dominique Strauss-Kahn's accuser goes public as case nears collapse
Hackers hit Italian cyber-police
"Hackers have started to release gigabytes of secret documents stolen from an Italian cybercrime unit.
"The 8GB of files has allegedly been taken from the network of the Italian CNAIPIC which oversees the country's critical IT infrastructure."
The cost of cybercrime
"The price tag on corporate data breaches is soaring: The rise in cybercrime is costing hundreds of billions of dollars each year."

## Japan ##
Energy policy drift deepens shortages fears
"More than four months into the Fukushima nuclear disaster, fears of power shortages appear to be deepening in the absence of a reliable and tangible state energy policy...
"Time is not on the government's side as all 18 reactors currently in operation nationwide are slated to go offline for periodic maintenance by around next May, according to the Ministry of Economy, Trade and Industry, while it is remains unclear when reactors shut down for regular checkups will be reactivated."
Fuel costs for Japan power firms to surge: Nikkei
Threat to Japanese Food Chain Multiplies as Cesium Contamination Spreads
"Radiation fallout from the wrecked Fukushima nuclear plant poses a growing threat to Japan's food chain as unsafe levels of cesium found in beef on supermarket shelves were also detected in more vegetables and the ocean."
Canon net profit drops 20% on quake; ups outlook
Toyota output and sales dip in first half of the year
"Production dropped 38%, while sales slumped 41% in the six months to June, from a year ago, the company said, the first such dip in two years."
Japan OKs $25 billion for quake relief, PM Kan meets 1st target
Fukushima mobilizes 3,900 to help decontaminate 'hot spots'
Turmoil over radiation-contaminated beef spreads to luxury brands

## China ##
Rail Stocks Tumble in China, Hong Kong
"China's railway companies tumbled in Shanghai and Hong Kong trading on speculation a deadly bullet train accident in the eastern part of the country will prompt the government to slow construction and reduce investment."
The Significance Of China's First High-Speed Rail Disaster
China exports hit by rising costs, yuan
More Red Flags for Carlyle's China Portfolio
Caixin on China's Risky Wealth Funds
Property Loans Halted in China's 2nd and 3rd-Tier Cities; Is China's Spectacular Real Estate Bubble About to Pop?

## UK ##
Ryanair predicts up to 12% rise in average fares
"Ryanair has said that its fares will rise by an average of up to 12% in the year to the end of March 2012 as fuel prices rise."
Savings being used to pay bills, says BBA
Retailers in trouble as administrations jump
"New administration figures reveal that the retail sector is under increasing pressure with the risk of collapse growing."

## US ##
US now faces two debt ceiling deadlines: Asian financial markets and possible default
US auto workers face brave new world
Oklahoma cattle ranchers pray for rain
Up to 18 fires in LA labeled suspicious
USPS to close 3,653 post offices
U.S. Can Avoid Default at Least Until September, Wells Fargo's Silvia Says
Rating Cut May Force Student-Loan Security Sales
"A cut in the U.S. government's AAA grade could force investors to sell asset-backed securities tied to student loans, causing spreads to widen "significantly," according to Citigroup Inc."
The worst may still be ahead for housing – 3 million homes foreclosed on in the last three years with another 5 to 7 million foreclosures in the pipeline (Dr. Housing Bubble)

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