Wednesday, August 24, 2011


News Links, August 25, 2011

## Global economic meltdown ##
BHP Billiton makes record profits – but sounds a warning
"The world's largest mining company, BHP Billiton, has issued a warning on the state of the world economy despite reporting record-breaking profits."
Bernanke's big Jackson Hole speech could rattle the markets
Gold Prices Plummet as Stocks Rise
Buying opportunity! -- RF
After Correction, Gold and Silver Set for Big Rally -- Puru Saxena
Kazakh Central Bank Gets 'Priority Right' to Buy Gold
German Labour Minister Wants Gold Collateral
Cyprus Faces BAILOUT OR BUST After Rejecting Emergency Fiscal Package
Muni Bond Market Emerging as States' Debt Grows: Mexico Credit
Unrest hits Middle East bond sales (FT)
"Bond sales in the Middle East have declined the most in the world so far this year as political unrest in the region and global economic uncertainty halted issues."
Bank of Thailand Raises Rate to 3.50%
German Business Confidence Falls to Lowest Since June 2010
European Bank Job Cuts Exceed 40,000 as UBS Eliminates 5% of Its Workforce
Dozens Of Italian Businessmen Send Letter To Parliament Demanding Imposition Of Capital Controls Instead Of EPS Cutting Austerity

## Fault lines/flashpoints/military ##
China on track for modern military by 2020: Pentagon
Denmark unveils 'arctic strategy'
Japan protests Chinese boats' entry in disputed area
Sweden Ready To Send Ground Troops To Libya
DoD: China's rise continues. Now what?

## Global unrest/mob rule/angry people ##
Paris: Police and Street-Vendors Clash Beneath the Eiffel Tower
Transit police arrest San Francisco protesters
Egyptian activists call for million-man protest at Israeli Embassy
Karachi unrest causes Rs100b loss
Pakistan: Paramilitary forces deployed to stop violence
India's political parties unite to urge Hazare to end fast
Anna Hazare: Pakistan to follow India with anti-corruption campaign
"One of Pakistan's leading human rights champions is to launch an anti-corruption campaign inspired by India's Gandhian crusader Anna Hazare."
Mass protests in Kiev, Ukraine against Tymoshenko trial
Tel Aviv taxi drivers protest fuel prices, work conditions
Hospital in China fends off angry mob

## Energy/resources ##
Libya to honor all Gaddafi oil deals: Jehani
"A Libyan rebel government would honor all the oil contracts granted during the Muammar Gaddafi era, including those of Chinese companies, Ahmed Jehani, a senior rebel representative for reconstruction told Reuters in an interview."
Eni Lobbies to Keep Oil Dominance in Libya After Qaddafi
Restarting Libya's Valuable Oil Exports Won't Be Easy
Chinese oil giant ends ops in Libya, Syria: report
"China's largest oil and gas producer has shut down six major projects in war-torn Libya, Syria and other restive nations because of political instability, state media said Tuesday."
Solar Power Market Falling Through The Floor
Iran's drive to halt oil decline falters
"'A lot is at stake,' the Middle East Economic Digest, published in Dubai, reported this week. 'Iran risks becoming a net oil importer if output rates continue to fall.'"
USGS ups Marcellus Shale reserve estimate
International oil higher on supply concerns
Iron ore price outlook strong on supply shortage: BHP CEO
The China-fuelled resources boom is at risk (Australia)
Texas grid narrowly avoids power outages
"For the second time this month, the Texas power grid on Wednesday was forced to curtail power to some industrial customers, but avoided a wider power disruption as triple-digit temperatures bake the state."

## Infrastructure scavenging ##
Police worried by rise in theft of catalytic converters (UK)
Hydro One warns of risks of copper theft (Canada)

## Got food? ##
Drought-Baked Fields in U.S. Dimming 2012 Wheat Outlook as Prices Rebound
For Corn Farmers, There's Gold In Them There Fields
"Demand for corn seems to be insatiable — the ethanol industry, livestock and export markets can't seem to get enough. Economists say demand will likely continue to outstrip supply for some time, keeping grain prices and the cost of food high."
Riding the Boom in Farmland

## Environment/health ##
Threat of Irene exposes New York's vulnerability
Rapid Range Shifts of Species Associated with High Levels of Climate Warming
El Niños may inflame civil unrest

## Intelligence/security/internet/systemic breakdown ##
Judge Calls Location Tracking Orwellian, While Congress Moves to Legalize It
Cheney: My book will have 'heads exploding' in D.C.
Astronauts may face food shortage after Russian supply craft crashes

## Japan ##
Moody's Downgrades Ratings On Japanese Banks
Japan Unveils $100B Effort to Cope With Yen
Tohoku Elec To Fix 70% Of Rain-Damaged Hydro Capacity By Dec
Credit Risk Barometer Tops Post-Quake High
No livestock farmers apply for government help
"No livestock farmers in the four prefectures worst hit by the March disaster have applied for a government aid program to help them resume operating, apparently because the qualification terms make it impossible, local authorities said."
Household car ownership drops again

## China ##
China in uphill energy battle?
Dry spell exacerbates SW China's power crunch
China's Ghost Towns: Overdevelopment in the Real Estate Market

## UK ##
'Neet' youths figure at second-quarter high
"The proportion of 18 to 24-year-olds in England not in employment, education or training (Neet) has risen to 18.4%, official figures suggest."
Such "neet" youth also abound in Japan. -- RF
U.K. Consumer Confidence Declines to Three-Month Low as Recovery Falters
Project Armageddon: Tullett Prebon "Thinks The Unthinkable"

## US ##
US Government Asset Seizures On The Rise
Dog thefts on increase in US
Home Prices Decline 5.9% in Second Quarter
First Houses, Now Cars: "Please Take the Damn Thing"
States' Bottom Line Improves, But Can the Good News Last?
US Mortgage Purchase Applications at 15-Year Low
Real Estate Stocks See Large Outflows
U.S. Stock Futures Retreat After Jobs Resigns
Payless owner to shutter 475 stores, sell itself
Another summer chill for youth employment
Shortage of cancer drugs hits Atlanta

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