Wednesday, August 17, 2011


News Links, August 18, 2011

## Global economic meltdown ##
European markets hit by eurozone Robin Hood tax plans
Singapore Posts Surprising Export Decline
"Singapore's exports unexpectedly fell in July, dragged by lower electronics shipments and a stronger local currency, fueling concerns that the island nation's economy may slip into recession."
Earnings Collapse Coming Up (Mish)
Merkel And Sarkozy Plans Fail To Assure Markets - New Record Nominal Gold High (USD London Fix)
China May Stop Buying Treasurys as Growth Slows: Roach
Top Stock Picker Jain Won't Buy China Banks on 'Shockinghly High' Bad Debt
"Bad loans at Chinese banks will rise to "shockingly high" levels, eroding profits and slowing growth in the world's second-biggest economy, said Vontobel Asset Management Inc.'s Rajiv Jain, who runs some of this year's best-performing mutual funds."
Global Woes Land a Punch in South Korea
"South Korean stocks suffered one of the worst drops anywhere during last week's chaotic market ride."
Chavez to nationalize Venezuelan gold industry
Who has most debt? Answer may surprise you
Bahrain's economy shrinks 1.4% in Q1 on unrest
Saab's future is getting even murkier

## Fault lines/flashpoints/military ##
Turkish warplanes attack PKK targets in Iraq
Unrest Forces Cancellation of Joint Egyptian-US Military Exercises
Hundreds of detainees corralled into Latakia stadium

## Global unrest/mob rule/angry people ##
Mercedes Targeted as Luxury Cars Burned in German Globalization Protests
India protests swell as Anna Hazare fasts
Protesters and police clash outside Knesset (Israel)
Hundreds of DPS workers protest pay, benefit cuts (US)
The march of China's new middle class
Growing unrest in Tibet
Relocation rumour sparks violent protest (South Africa)
Youths attack police in Sweden overnight
"Swedish police say unrest erupted overnight in Goteborg, the country's second largest city, as several officers were attacked by youths hurling rocks and Molotov cocktails."
Cell phone jammers being installed in prisons (Saudi Arabia)
The Cause Of Riots And The Price of Food

## Energy/resources ##
The Dawning of a Global Water Crisis
Power cuts forces steel mills to take tough alternative (Pakistan)

## Infrastructure scavenging ##
Cable thieves derail Gautrain once again (South Africa)

## Got food? ##
Parched Farm Fields Mean Trouble For Wheat Planting
Moth Infestation Casts Pall On Alaska Berry Crop
"This year's blueberry season in Alaska's most populous region is a bust, thanks to a plethora of leaf-eating caterpillars, Alaska pest management officials said."
Sticker shock: Food prices soaring (video)
Atlanta Grows Lettuce Near Runway as Urban Farms Bloom
Second Harvest Food Bank Runs Out of Food
Operation Meat Locker is latest attempt to ax meat thieves

## Environment/health ##
The Numbers: Marine Life Lost to BP
'Brain-eating amoeba' kills third person

## Intelligence/security/internet/systemic breakdown ##
Apple Store outage related to larger 'net issues?
Data center power outage caused massive Ooma outage Wednesday
"Popular VoIP provider Ooma saw its entire network collapse Wednesday morning, but said it was back up some seven hours later.
"During the outage, no inbound or outbound calls were possible, nor were any forwarding numbers working."
Amazon Offers Explanations, Apologies For Dual Cloud Outages

## Japan ##
Financial ripples from quake still hit businesses outside Tohoku
Japan utility may face delay in Fukushima cleanup plan
Excessive levels of radioactive cesium found 100 km from plant
Tomari Reactor Resumes Commercial Operation
Mountains of debris stand in the way of quake reconstruction
Japan's trade surplus down 90.8% vs a year ago

## China ##
China cracks down in Xinjiang following ethnic violence
Gloating China, Hidden Problems (Niall Ferguson)
"Beijing has chastised the U.S. for fiscal recklessness, but it may be headed for an economic collapse of its own."
China online retailers wander warehouse wasteland

## UK ##
Unemployment rises sharply, official figures show
Nottingham Riots: Disorder cost police force £1.2m

## US ##
S&P Slashes US Growth Forecast, Says Current Crisis Is Worse Than 2008 As US At "Risk Of Default", Ridicules "Transitory"
Drought so far cost Texas farms record $5.2 billion
700 water main breaks in Houston — a day
US increasingly shuns home ownership to rent
Report: Child poverty rate hits 20 percent in US as families struggle
Companies Sit On Cash; Reluctant To Invest, Hire
US Sees Growing Losses From Extreme Weather
The Problem With Growth Data? It Isn't Always Reliable
And Back To Munis, As Fitch Downgrades New Jersey GO From AA To AA-
SEC Destroys 9,000 Fraud Files Involving Wells Fargo, Bank of America, Citigroup, Goldman Sachs, Credit Suisse, Deutsche Bank, Morgan Stanley, Lehman
How America Could Collapse (The Nation)
Unemployment Up In August

And finally... Bachmann promises $2/gal gas as president

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