Tuesday, August 02, 2011


News Links, August 3, 2011

## Global economic meltdown ##
Europe on Brink of 'Major Financial Collapse': Guggenheim CIO
US Less Than 3 Years Away From Being Greece: Walker
Greece in panic as it faces change of Homeric proportions
"In one of the biggest banks in the centre of Athens a clerk is explaining how his savers have been thronging to pull out their cash.
"Wary of giving his name, he glances around the marble-floored, wood-panelled foyer before pulling out a slim A4-sized folder. It is about the size of a small safety-deposit box – and those, ever since the financial crisis hit Greece 18 months ago, have become the most sought-after financial products in the country. Worried about whether the banks will stay in business, Greeks have been taking their life savings out of accounts and sticking them in metal slits in basement vaults."
Greece begins €50bn privatisation drive
"Greek officials begin appointing advisers for fire-sale of state assets intended to raise €50bn by 2015"
Asia Has 'No Solution' to Dollar Reserves Problem
US debt still a threat to global economy - China media
Sputtering Economy Sends Dow Plunging 266 Points
Italy under fire in widening euro debt crisis
The Italian Collapse Continues, Everything Selling Off
Japan primes markets for FX intervention
Central Banks Join Rush to Gold
"Central banks are ramping up their gold buying as they seek to diversify their reserves away from the dollar and other beleaguered currencies."
Bank of Korea Buys Gold for First Time in Over 10 Years
Gold Futures Top $1,660 on Demand for Haven Amid Economic Woes
Asia's Factories Slow as Central Banks Tighten
U.S. Faces First Downgrade on Debt, Slowdown: Moody's
Brazil Cuts $16 Billion in Taxes to Aid Industry Hurt by Real Rally, China
Spain, Italy, Belgium Bond Spreads Hit Euro Record; Italy 10-Year Bond Yield Highest Since 1997; Self-Fulfilling Crisis
In pictures: the Dubai towers that never rose

## Fault lines/flashpoints/military ##
U.S. troops in Iraq will need immunity: U.S. chief
TV report: Israel agrees to negotiate over pre-'67 lines
Arab Spring Roils Israel's Energy Imports - and Israel
"If Netanyahu wants to keep the lights on in Tel Aviv, as distressing he may find it, now is the time to show some political leadership and begin to negotiate with his neighbors."
Israel Will Bomb Iranian Nuclear Sites Next Month, Ex-CIA Agent Predicts
Italian committee approves face veil ban bill
No end to violence in Pakistan's Karachi; 26 killed in 24 hours
Japan wary of rise in China's maritime activities
Japan's fresh claim to disputed islands reignites feud with South Korea
More Than Half Of Mexico's Top Prosecutors Have Resigned En Masse
Brazil bars Falklands shipping
"Brazil intends to bar all Falkland-flagged shipping from its ports and backs Argentina's position that British-backed oil exploration in the South Atlantic islands' waters is illegal, it emerged after the two countries' presidents met in Brasilia."
Argentina eyes nuclear-powered sub project
Pentagon lands extra $50 billion out of debt deal

## Global unrest/mob rule/angry people ##
China kills two suspects in Xinjiang violence
Nato sends more troops to Kosovo after border unrest
Israel suffers summer of economic discontent
'Anonymous' joins student protesters in Chile
Latest developments in Arab world's unrest
NRF issues guidelines for retailers in handling "criminal flash mobs"

## Energy/resources ##
Power development strategy break and electricity shortage inevitable
"In order to develop power plants, Vietnam needs to have huge capital, while it is seriously lacking capital. Meanwhile, the current low electricity prices cannot attract foreign investors. Therefore, failing to fulfill the development strategy proves to be unavoidable."
Nate Hagens: We're Not Facing A Shortage of Energy, But A Longage of Expectations (Chris Martenson)

## Infrastructure scavenging ##
Police take to the streets in national metal theft campaign (UK)

## Got food? ##
Farming attracts academically diverse students
Eroding buying power: Inflation spikes to 13.8% on high food prices (Pakistan)

## Environment/health ##
Iraq government declares a holiday as temperatures reach 120
In the News: Third of freshwater fish threatened with extinction

## Intelligence/security/internet/systemic breakdown ##
Internet Rationing Latest Threat to Watching Video Online

## Japan ##
Japan July Nuclear Plant Usage Falls To 33.9 Percent
Fukushima radiation reaches lethal levels
TEPCO seals off area of nuclear plant with high radiation level
Beef ban extended to Tochigi Prefecture
Radioactive leaf soil sold nationwide after gov't prevention measures fail
Renesas sees full-year loss due to quake
"Japanese semiconductor maker Renesas Electronics Tuesday reported a $429 million net loss for the April-June quarter and forecast a full-year loss because of the impact of the March 11 quake disaster."
8 Of 10 Foreign Brokerages Saw Losses Or Profit Drops In FY10
Toyota's spring profit dives 99%
Honda's profit takes 90% plunge in quarter
New vehicle sales sank 27% in July
Workers bear the burden as companies save power
Conservation Replaces Nuclear Power in Japan (Jeff Rubin)

## China ##
With A/Cs cranked, power runs short in South
Security heavy in west China city hit by attacks
China weekly: Official says cover-ups common

## UK ##
NHS pulls the plug on its £11bn IT system
Households squeezed by food prices

## US ##
Food Stamp Use Surges By Most In Years As Alabama Foodstamp Recipients Double In May
PIMCO's Gross Says Deficit Deal Makes No Dent
Foreclosures in New York City near 2,000. Are banks keeping up the buildings?
Author: U.S. may be on the verge of another revolution (RT video)
A monster month for used car sales
FAA Debate Puts Subsidized Rural Airports At Risk
Stocks' free-fall leaves S&P negative for the year
Companies near record profits amid high unemployment
Students to feel pinch in debt deal
After tracking every shuttle, antenna is shut down
'Bright future' turns bleak: RI city files for bankruptcy
California Hotel Foreclosures Jump 91%
Small businesses go to the pawn shop for short-term loans
U.S. spending fight may hit highways next
"The same ideological spat in Washington that brought the nation to the brink of debt default for the first time in history also has halted airport-construction projects, and could soon affect America's roadways."

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