Wednesday, August 31, 2011


News Links, September 1, 2011

## Global economic meltdown ##
The Seneca Effect: why decline is faster than growth (The Oil Drum)
"With oil production peaking or set to peak soon, it is hard to think that we are going to see a gentle downward slope of the economy. Rather, we may see a decline so fast that we can only call it 'collapse.'"
National Bank of Greece Posts EU1.31 Billion Loss on Bonds
Merkel backs euro fund boost, faces revolt risk
South Korean Inflation Accelerates to 3-Year High, Pressuring BOK to Act
Asia Numbers Show Slowing Output
"Data from across Asia show the troubles in the West, and tighter money, are starting to be felt in the manufacturing economies of the East."
India's Growth Cools Amid High Rates
Saab troubles: Losses widen at Swedish carmaker
U.S. Government Merits a Junk Credit Rating (Bloomberg)
Belarus Hyperinflation Update: Food Runs Out As Friendly Foreigners Take Advantage Of The "Favorable" Exchange Rate Arb
Canadian Economy Shrinks For First Time Since 2009; Recession Next?
'Italy Is Burning and No One Is Putting It Out'

## Fault lines/flashpoints/military ##
Rising Biomass Demand Could Drive Land Grabs: Report
China Analyst: U.S. Can't Win in Space, So Why Bother Racing?
"The new space race is on. But in the view of one influential analyst, the race isn't worth the prize. Space 'is expensive to enter, hard to sustain assets in, contains no defensive ground, and — barring energy-intensive maneuvering – forces assets into predictable orbits.'"
NATO May Maintain Libya No-Fly Zone After War Ends
Sarkozy: Iranian Nuclear Bid Could Provoke Attack
UN Envoy: Libyan Council Rejects Military 'Observers'

## Global unrest/mob rule/angry people ##
Bomber kills 11 outside mosque in Quetta, Pakistan
Activists: Teenager Killed In Police Action At Bahrain Protest

## Energy/resources ##
Kurdistan One of Last Onshore Oil Prospects: CEO
Earthquake and Hurricane Irene Impact U.S. Nuclear Power Industry
U.S. losing clean-energy race? Solar maker Solyndra bankrupt
The Middle Kingdom meets the Middle East
"China's effort to secure energy resources in the Middle East is going into overdrive as its dependence on the region's oil increases."
China Intensifies Purchases of Copper
Saudis may raise crude prices on Asia demand
Strong demand to support coal and iron ore prices
Libya running out of water

## Infrastructure scavenging ##
Law enforcement agencies report rise in metal-related theft

## Got food? ##
U.S. Farm Income Tops $100 Billion For First Time In 2011
"Volatile energy prices will make their way to the bottom-line of U.S. farmers with total expenses forecast to increase by $32.5 billion in 2011, exceeding $300 billion for the first time, USDA said. Overall, electricity and petroleum and oil inputs will increase by $3.3 billion to $21.1 billion."
Organic Pest Control: What Works, What Doesn't
Corn, Wheat Head for Second Monthly Advance as Dry Weather May Curb Crops

## Environment/health ##
Irene's Toxic Aftermath
New Dual Hurricane & Tropical Storm Threats Going Into Labor Day Weekend

## Intelligence/security/internet/systemic breakdown ##
Court Ruling Could Make Lending, Selling Books Printed Overseas Illegal
Bullying Law Puts New Jersey Schools on Spot
"Under a new state law in New Jersey, lunch-line bullies in the East Hanover schools can be reported to the police by their classmates this fall through anonymous tips to the Crimestoppers hot line."
China Shutters 6,600 Websites for Manipulating Information Online
Russia considering unmanned space station
"Russia's space agency Roskosmos is considering ending a permanent human presence in space, an agency official said on Wednesday following last week's crash of a supply ship delivering precious cargo to the ISS."
Phila. Police Enlist Private Cameras To Capture Crime
Electronics Enters Era of 'Systemic Risk'

## Japan ##
Autoparts Assn Calls On Noda To Put Yen At Top Of Agenda
Japan's Auto Exports Down 3.0% On Year In July
Japan's Auto Production Down 8.9% On Year In July
14 risky fault lines found near N-plants
Fears of power shortfalls undimmed
"Despite the government's decision to lift the mandatory curb on electricity usage in areas served by Tokyo Electric Power Co. and Tohoku Electric Power Co., there are concerns the utilities, many of whose nuclear power reactors remain idle, will be unable to meet expected power demand this winter and beyond."

## China ##
Fitch Reiterates Warning on China's Banking System
Wen Says China to Focus on Taming Inflation
Actually Chinese Inflation Hasn't Slowed And It's About To Get Worse

## UK ##
David Cameron says banks need to start lending again

## US ##
QE3 is Imminent According to Fed Minutes
CHART OF THE DAY: Bank Funding Costs Are Soaring
Subprime Mortgage Bonds Getting AAA Rating S&P Denies to U.S. Treasuries
Annual Inflation Hits 4%
Medicaid's Half A Billion Dollar Hole
Salem County, New Jersey Nuclear Reactors Power Down From Irene Debris
"Two of the three nuclear reactors in a southern New Jersey county have powered partway down because debris from Hurricane Irene is blocking cooling water intakes."
Irene's historic damage may not be insured
"Hurricane Irene appears destined to be one of the 10 costliest catastrophes in the nation's history, and much of the damage might not be covered by insurance because it was caused not by winds but by flooding."
Hurricane Irene: A Financial Disaster
Tempers Fray Over Recovery's Pace
"Political leaders encountered frustrated residents in the northeast Wednesday, angered by days without power, continued flooding and what they perceived to be a slow government response to Hurricane Irene's devastation."
What's Left To Fix The Economy If It Gets Worse?
US Firms Paid More to CEOs Than Taxes in 2010: Study
Suspicious packages swamp law enforcement
"An unrelenting stream of suspicious package reports — and the need to investigate all potential threats in the post-9/11 world — is stretching federal and local law enforcement agencies in New York and Washington."
Ron Paul: 'Philosophy Of Liberty And The Constitution' Has Been Vindicated
"From financial crises to problems with the wars in Iraq and Afghanistan, Paul said, his warnings about a government that's too big and spending that's out of control have come true. It's other politicians, Paul said, who 'get in office and ... pursue global war mongering.'"
Chance for food stamps draws crowd
Three in 10 Workers Worry Over Layoffs, Double the Level in August 2008
Economy will continue to decline (CNBC video)

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