Monday, August 08, 2011


News Links, August 9, 2011

## Global economic meltdown ##
Shock Wave Coming: 'Gold & currencies basket to substitute US dollar' (RT video)
Dow plummets 634 points amid downgrade backlash
Gold Prices Soar to Above $1,700 an Ounce
Shocker: JPM Sees Gold At $2,500 By Year End
Jim Rogers: Don't See How US Can Ever Pay Off Debts
"Rogers said the country was unlikely to be able to pay off its debt and Standard and Poor's rating cut had come too late and should have happened long ago."
Aussie market joins global plunge
"Australian stocks are being hammered as they rejoin the global plunge in equity markets, losing about $65 billion in value, as investor fears show little sign of easing."
Secretly Broke in Australia
"The housing boom in Australia is now an escalating bust. Many Australian homeowners put every cent they had into their homes and they needed double incomes to just scrape by. Unfortunately, those jobs are disappearing in a construction and commercial real estate bust."
Police raid Milan offices of Moody's and Standard & Poor's
INFOGRAPHIC: The Shocking Wage Gap Between Auto CEOs And Their Employees
Bayer threatens to quit Germany over nuclear shutdown
"Germany's decision to phase out nuclear power after the Fukushima catastrophe in Japan could lead to some of the country's major companies relocating elsewhere in search of cheaper energy."
Greece bans shortselling as stocks tank
OECD Indicators Point to Slowdown
ECB Bond Buying May Reach $1.2 Trillion in Creeping European Fiscal Union
German air traffic controllers call strike

## Fault lines/flashpoints/military ##
Saudi king pulls ambassador from Syria, denounces violence
We'll see how KSA handles its own upcoming riots. -- RF
Syrian tanks pound city as Arab states withdraw envoys
Syria faces international isolation as Arab world turns against Assad's regime
Did a New Taliban Weapon Kill a Chopper Full of Navy SEALs?

## Global unrest/mob rule/angry people ##
Protests against power outages turning violent (Pakistan)
Public housing protesters arrested in Jerusalem
Ukraine police surround protesters' tent camp
Mob Attacks Man on Magnificent Mile
Worrying rise in incidents of highway robbery (Bangladesh)
"That the law and order situation has dipped to an alarming level in recent months is quite evident from the rising incidence of mugging, killing, robbery etc., across the country."
London riots: Violence erupts for third day
Shops in Birmingham attacked as UK riots spread
London riots: masked looters fight police in Hackney
Riots spread to Liverpool
Violence hits new parts of London
Bahrain protests: 'The repression is getting worse'
China's top Xinjiang official vows "terrorist" crackdown
Four killed in protests over rising airfares
"Protests over rising airfares turned violent in a French overseas territory this weekend, leaving four people dead and nearly two dozen injured.
"AFP says the unrest occurred 'in the South Pacific archipelago of New Caledonia during violent protests over airfare increases after local residents and protesters at the airport clashed, officials say.'"

## Energy/resources ##
Massive power failure at IGIA triggers chaos (India)
"There was absolute mayhem at Indira Gandhi International (IGI) Airport on Sunday. A massive power supply breakdown paralysed the airport to such an extent that it remained non-functional for almost five hours."
Statoil announces 'considerable' oil find
200 million barrels is "considerable"? Assuming world consumption of 85 million barrels a day, I'll let you decide if that is "considerable." I think it's a drop in the bucket. -- RF
Flooding danger to oil, gas pipelines? (US)
Crude Oil Drops Below $80 for First Time Since October on Extended Slump

## Infrastructure scavenging ##
St James' Church in Bix has bell stolen
Cell tower signals disrupted after copper theft

## Got food? ##
Meat Crime Is a Growing, 'Nasty' Problem in the US
Food prices could be 50% higher down the road (India)

## Intelligence/security/internet/systemic breakdown ##
Hackers can do a lot of damage via broadband power lines
Syrian Ministry Of Defense Website Hacked By 'Anonymous'
Will Russia and China Collapse Before 2020?
Ex-intel chief: U.S. cyber-vulnerable

## Japan ##
Japan Rice Futures Surge 40%, Trigger Circuit Breaker On Concerns Fukushima Radiation Will Destroy Crops
This "ridiculous" price was for the Koshihikari variety grown in the Kanto region -- which means the rice I grow. I'm glad I planted 50% more rice this year. -- RF
Japan's current account surplus plunges in June
Kashiwazaki-Kariwa reactors key to TEPCO
TEPCO struggling to stabilize plant despite progress reports
Water treatment system at Fukushima plant stops for 7.5 hours, cause unknown
Unit 3 MOX likely melted through
BOJ Minutes: Still See Potential Need For Further Credit Easing
Disaster bankruptcies climb again
"Corporate failures rose 1.4 percent to 1,081 in July compared with a year ago as many firms were forced into bankruptcy by the effects of the March earthquake and tsunami, a credit research agency said Monday."
Japan to consider backup capital city for emergencies
Stop claiming food is safe, ministry told
120,000 bldgs destroyed by tsunami

## China ##
China July inflation hits 6.5%, tops estimates
China's Conundrum: Angry at U.S. but Trapped in Treasurys (WSJ)
US Debt Woes Show Military Overreach: Chinese Media
"The United States must rethink its huge military outlays, big footprint abroad and summon the courage to defuse debt woes, Chinese state-run media said on Monday, reflecting the political pressures on Beijing with its big stash of dollar assets."
China Should Not Sell US Debt: Ex Chinese Lawmaker
China not yet ready to cut oil product prices
China to cut coal import VAT and port charges soon

## UK ##
Windows smashed in Birmingham as youths gather
London riots spread south of Thames
Potent mix of cuts, unemployment could fuel more UK riots
London riots: all incidents mapped in Tottenham, Brixton, Hackney, Lewisham and Greater London
Negative equity affects 827,000 households, lenders say
Flights hit by air traffic delays
Agricultural theft on the rise, says rural insurer
Rural crime costs farmers in the East £8m
"Insurer NFU Mutual said 'agri-crime' was up 18% for the year, with heating oil, diesel, tools and quad bikes the top targets for thieves."
London firefighters stretched to breaking point by riot blazes
London riots: send in water cannon to clear streets, Theresa May told
London riots: Police communications system struggles to keep up

## US ##
Soft Patch Delusion Is Dashed: Roubini
"Influential economist Nouriel Roubini has warned hopes that the recent slowdown was temporary have been dashed and predicted the US and other advanced economies will have a second 'severe recession.'"
Donald Trump Suggests Leaving the Country to Find Work
Tech Stock Crash: End Of The Bubble?
Looking for Market Bottom? You Could Have a Long Wait
Moody's cautious about U.S. deficit cuts plan
When dollar stores are too expensive
FedEx Freight Hikes Rates 6.75 Percent
Alabama County Submits New Debt Settlement Offer
Bank Stocks Plunge Most Since 2009
Mortgage insurer PMI Group says main subsidiary may have to stop selling policies, could close
Treasury Adds Another $20 Billion In Debt Overnight, Just $160 Billion Below Revised Ceiling
Striker flash mobs surprising workers, customers at North Jersey Verizon stores
Bank of America stock plunges 20%
Investors lose a trillion dollars in one day

And finally... We have a bleeder! Police urge holster use after man shoots his own penis

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