Tuesday, July 26, 2011


News Links, July 27, 2011

## Global economic meltdown ##
Greek Debt Swap Process to Start in August: Deputy FinMin
IMF: Food and fuel prices hold back Central American recovery
India Central Bank Surprises with 50 bps Rate Rise
Nigerian Central Bank Increases Benchmark Rate to 8.75% to Curb Inflation
John Boehner Debt Ceiling Plan May Still Trigger S&P Downgrade: Report
U.S. Downgrade May Cost $100 Billion a Year
"Political wrangling over a plan to reduce the deficit may cost the U.S. its AAA rating, adding $100 billion a year to government costs while dragging down economic growth, according to Wall Street bond dealers."
US Default Could Spark CDS Confusion
"A U.S. debt default could send the derivatives market designed to protect bond investors into confusion because a missed Treasury payment may have been deemed too unlikely to be fully planned for in the contracts."
The Cost of Credit Swaps When a Nation Defaults
Credit Suisse may cut up to 2,000 jobs: report
Facing Economic Turmoil at Home, Young Spaniards Flee for Germany
Gold and Silver Will Keep Going Up as Currencies Are Debased
Spanish Government Bonds Hit 6% Again; Yields Climb in Italy
Crash Club: What Happens When Three Sputtering Economies Collide?
Skilled worker hunt is hard labour (Australia)
Hazard pay a new victim in Greece
Saab says salaried pay is on hold

## Fault lines/flashpoints/military ##
N. Korea readying for west coast exercise
Anders Breivik's Roots in Right-Wing Populism
Analysts believe Iran scientist death was a foreign hit
Did Taiwan Rescue a U.S. Spy Plane?
U.S. issues global terrorism warning
Saudi gives $30.8m to cash-strapped Palestine
Iran says crude sales to China going well
Iraq's Weekend Deadline Passes, No Deal on US Troops
Thieves targeting trucks
"Organized truck thieves have infiltrated New Brunswick in a big way this month, hauling off with several tractor-trailers and scoring piles of valuable cargo in the process.
"Seven trailers and five trucks have been stolen in the past two weeks from the Woodstock area, thefts the RCMP has estimated to be worth in the millions of dollars."

## Global unrest/mob rule ##
Flash Mob Robbery Occurs at Victoria's Secret Store in Georgetown
"Similar incidents have occurred throughout Georgetown and other parts of the city and D.C. Police has officers patrolling retail districts on foot and on segways to be able to respond faster."
Egyptian protesters sue military, raising tensions
Saudi Arabia Blocks Amnesty International Website
"Saudi Arabia appears to have blocked the website of human rights organization Amnesty International after it published an analysis that said a proposed anti-terrorist law in the kingdom could be directed against peaceful protests."
Netanyahu: Housing shortage is a real problem
Israeli housing protests evolve into major crisis
"Thousands of young protesters have set up sprawling tent camps in Israeli cities, forcing Prime Minister Benjamin Netanyahu on Tuesday to introduce economic reforms to address a swell of discontent over high housing costs and stave off the worst domestic crisis of his two years in power."

## Energy/resources ##
Kenya: Blackouts, rising bills as drought bites
Pemex counts 100 workers linked to Mexico fuel thefts
"MEXICO CITY, July 25, 2011 (Reuters) — More than 100 oil workers and contractors hired by Mexico's state oil monopoly Pemex have aided criminal gangs stealing millions of barrels of fuel over the past decade, a document obtained by Reuters shows."
South Korea To Hike Electricity Prices By 4.9 Per Cent Next Month
"South Korea will raise electricity prices by 4.9 percent starting next month as part of its efforts to reflect rising power production costs, the commerce ministry said Tuesday."
Wind projects' costs irk utilities in 9-state pool
The Triple Digits Welcome Back Crude: WTI Back Over $100 Once Again
Uranium shortage can't be ignored

## Infrastructure scavenging ##
Fire Hydrant Theft Ring Busted

## Got food? ##
North Korea food shortage worst in years, despite farms
Uganda faces food shortage
Food inflation in focus amid lofty crop price outlook
"(Reuters) - Grain prices will likely remain elevated at the end of this year, a Reuters poll showed, providing little relief to food prices while continuing to challenge policymakers battling to tamp down inflation."
Hungary Destroys All Monsanto GMO Maize Fields
Drought Withers Smallest Hay Crop in Century to Boost Beef Costs
"The smallest U.S. hay crop in more than a century is withering under a record Texas drought, boosting the cost of livestock feed for dairy farmers and beef producers from California to Maryland."

## Environment/health ##
Chernobyl: A field trip to no man's land

## Intelligence/security/internet/systemic breakdown ##
The coming crisis of IT management
Low-tech Internet scams harvest billions of dollars
Congress Websites Down: House, Senate Sites Not Working
Russian organized crime strategic threat to US — NSC
Number of Chinese websites plummets due to internet controls
"China had 1.91 million websites at the end of 2010, a 41 percent drop from the previous year, according to a report by a government think tank."
DHS Fears a Modified Stuxnet Could Attack U.S. Infrastructure
Complexity and Collapse

## Japan ##
More Japan utilities may face power shortage next summer-media
"TOKYO, July 26 (Reuters) - Five out of nine Japanese utilities that rely on nuclear power may not meet peak demand next summer if the nation's 54 nuclear reactors stop operating by April or May, up from three utilities seen so far this August, a newspaper reported."
Japan Warns of Yen Pain as Calls for Action Grow
Children in Fukushima to be given regular cancer tests
Special report: Fukushima long ranked most hazardous plant
"(Reuters) - Japan's Fukushima Daiichi nuclear plant ranked as one of the most dangerous in the world for radiation exposure years before it was destroyed by the meltdowns and explosions that followed the March 11 earthquake."
Japan: angry Fukushima citizens confront government (video)
I've watched the video, and the tone of the citizens is much angrier than the translation. Absolutely disgusting behavior by government officials. -- RF
Gov't eyes emergency Y10 tril tax increase to fund quake reconstruction
Meat sector to buy tainted beef, burn it
Chubu Electric to suffer operating loss in 2011
Tepco reportedly mulling asset sales

## China ##
The Propaganda Instructions For The Wenzhou Train Crash
China train crash: buried evidence?
China digs up wrecked train it buried
Oil leak killing scallops, farmers say
China's online protest movement
Chinese Cities' Risky Borrowing Binge

## UK ##
Pensioners forced to release equity from their home to pay off debts
"Increasing numbers of older home owners are releasing equity from their property to deal with problem debts, according to Consumer Credit Counselling Service (CCCS)."
Innocent people's DNA profiles won't be deleted after all, minister admits
'Special factors' blamed for slow growth

## US ##
California Seeks $5B 'Bridge' Loan to Pay Bills
Wealth gap widens between whites, minorities
The American Dream slips even further out of reach
Federal court: If you're arrested, officials can take a DNA sample
Chicago police use more deadly force as gang war heats up
Fla. PSC considering power conservation plans
FAA Suspends Airport Construction Projects Nationwide
"The Federal Aviation Administration has stopped work on air travel infrastructure projects across the United States after Congress failed to pass legislation re-authorizing federal ticket taxes. The taxes fund the building airport facilities such as control towers and runways."
Abandoned and foreclosed homes a haven for crime in Lake Worth
Postal Service studying fate of 51 La. offices
Post office cuts: Is your post office on the list?
10,000 veterans at risk of homelessness
The Debt Crisis and Mortgage Rates
U.S. downgrade could hurt corporate, muni debt
Pelosi calls for era of austerity
States Missed Pension Targets by 50% Over Past Decade
"In the last decade, as a wave of baby boomers began retiring, America's biggest state pension systems earned less than half what they needed to keep up with promises made to millions of graying civil servants."
U.S. June New-Home Sales Fall More Than Estimated to 312,000 Annual Pace
10 More Banks Exit TARP by. . .Borrowing From Treasury
Commercial real estate: How low can it go?
"Commercial development has served as one of the driving forces of the Las Vegas economy during the boom, but is at a near standstill with millions of square feet of oversupply and a complete lack of demand with businesses closing and cutting back on their space needs."
Mapping America's Underfunded State Pension And Healthcare Liability Debacle
Scooter nation: Bike sales soar amid high gas prices
5 Updates on the Nationwide Drug Shortage
Florida becomes center of cargo theft crime ring

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