Friday, September 30, 2011


News Links, October 1, 2011

## Global economic meltdown ##
IMF Explores Options to Expand Its Lending Power to $1.3 Trillion
Bank of Spain Seen Set to Take Over Three Savings Banks
Austria Poised to Approve Euro Rescue Fund Expansion
Renminbi Tops Euro for Bond Issuance
Europe Inflation Accelerates to Fastest Since 2008
David Stockman: Blame The Fed! (Chris Martenson)
Sarkozy to meet Merkel in coming days on Greece
Without a growth plan, the EU faces financial Waterloo
Eurozone inflation jumps to 3 percent in September, highest since October 2008
Japanese Dump Real Funds at Fastest Pace Since Earthquake: Brazil Credit
"Japanese investors, who hold $102 billion worth of Brazilian assets, are pulling the most money out of the Latin American country's currency market since April, deepening a slide in the real that's fueling bond losses."
Greece: This cannot end well
Buffett Says European Bank(s) Have Asked Him For Money
Euro Zone Crisis To Impact Asia: Singapore PM
Global debt woes to curb Dubai property recovery
Another Autumn Crash? (Financial Sense)
"After reviewing a host of technical and fundamental data, we are of the view that the world's stock and commodity markets may be on the verge of a big slide."
Central Banks expected to buy at least 336 tonnes of gold this year
Canadian stocks end worst quarter since Dec. '08
Mexico, Brazil stocks cap dismal Q3 with losses

## Fault lines/flashpoints/military ##
Russia makes clear its military ambitions / Activities in Far East show desire to boost ability to compete with Japan-U.S. alliance, China
"Russia has been increasing its military activities in the Far East, including in seas near Japanese territories, with the apparent goal of rebuilding combat capabilities that were diminished following the breakup of the Soviet Union."
Seven Syrian troops die as armed resistance emerges
Iranian envoy says his country backs 'strong' Iraq
Piracy The Focus of Today's World Maritime Day Celebration
"Despite an decrease in the percentage of successful attacks, piracy is still a real and growing problem. A recent number of hijackings and attacks off West Africa, including the Gulf of Guinea, and off the coast of Southeast Africa in the Mozambique Channel, are a testament to the growing issue."
Conflict in the Caspian?
U.S. reassures Pakistan amid anti-American protests
"The United States moved to ease tensions with Islamabad on Friday, telling Pakistan it would not send ground troops to attack militant positions in North Waziristan even as anti-American protests flared around the country."
US finds new friend in Uzbekistan after Pakistan fallout
"President Obama has asked Uzbekistan to expand its role in resupplying troops in Afghanistan as Washington tries to reduce its dependence on Pakistan."
U.S. Now Controls More than Half of World Arms Sales
Sale Of U.S. Bombs To Israel Raises Questions
Putin to visit China in October
Exxon Mobil Subsidiary Ship Attacked by Gunmen
"An official with Exxon Mobil's Nigerian subsidiary says gunmen have attacked a ship supplying one of the company's offshore oil rigs, kidnapping a sailor."
Frail Saudi royals face hard diplomatic choices
Brazil in 'Urgent' Need Of Fighter Jets: Minister

## Global unrest/mob rule/angry people ##
Telangana: India new state protest enters 18th day
"Some 800,000 protesting government employees have stopped work, leading to a shutdown of offices, schools and colleges."
Demonstrators give banks an earful in downtown San Francisco
Egypt Protests: Thousands Demand End To Emergency Laws
Greek public-sector workers lock out international financial inspectors
BofA's Boston Building Draws Protesters, Arrests

## Energy/resources ##
Utilities Giving Away Power as Wind, Sun Flood European Grid
Water trouble: 10-hour power outage leads to water shortage (Pakistan)
Norway Oil Find May Be its Third Biggest Ever
North Sea gas production falls 25% (UK)
"North Sea gas production has slumped by 25% in the second quarter of the year, an alarming increase in the rate of decline that will cut tax revenues and could put more pressure on government to agree controversial shale gas developments."
New oil pipeline planned from Cushing hub
Arab companies want to join Russia's Arctic gas project
Saudis aim to build 16 nuclear reactors to cut domestic oil use
Gasoline Cargoes to U.S. Set to Gain as Refinery Maintenance Crimps Supply

## Infrastructure scavenging ##
Cable theft causes more rail delays (UK)
"Rail passengers suffered fresh delays because of another incident of cable theft today, a problem a union leader said was now 'out of control'."

## Got food? ##
Basics of Pickling Vegetables
How To Build a Compost Bin from Wooden Pallets
Cargill ground turkey sickens more in salmonella outbreak
Romaine Lettuce Recalled in 21 States
Wheat, corn prices plummet on report showing larger stockpiles; other commodities also lower
China Seen Needing 'Huge Effort' to Meet Increasing Corn Demand
China grain prices to rise despite bigger harvest
Kraft Recalls Velveeta Shells & Cheese
Fertilizer crisis looming large (Pakistan)

## Environment/health ##
Canada's Arctic ice shelves breaking up fast
Scores die in worst Mekong flooding since 2000

## Intelligence/security/internet/systemic breakdown ##
US: Cyber attacks on utilities, industries rise
"U.S. utilities and other crucial industries face an increasing number of cyber break-ins by attackers using more sophisticated methods, a senior Homeland Security Department official told reporters during the first tour of the government's secretive defense labs intended to protect the nation's power grid, water and communications systems."
U.S. mulls Canadian border fence
When It Comes to Cell Phone Privacy, You're an Open Book
"Few people would willingly carry around a device that tracks their movements, records their conversations, and keeps tabs on all the people they talk to. But, according to documents recently released by the American Civil Liberties Union, cell phone companies are doing all of that -- and may be passing the information on to law enforcement agencies."
CIA Assassinates Two American Citizens in Yemen

## Japan ##
Plutonium 'detected outside Fukushima plant'
Cesium fallout map illustrates Kanto levels
Japan to secure record 46 tril. yen forex intervention funds
It's 1987 Without Bubble in Japan as Job Losses Spur Hollowing-Out Concern
"Japan's labor force shrank last month to its smallest size since October 1987, when the nation's stock-market benchmark was 185 percent higher and land prices were 85 percent greater than today."
Tepco Faces 'Zombie' Future as Fukushima Claims Set to Surpass $59 Billion
Japan's vehicle output in Aug. gains 1.8% for 1st rise in 11 months

## China ##
China Is Quietly Unraveling as the World Frets Over Europe (Yahoo Finance video)
China Manufacturing Eases for Third Month, Prices Up
"China's manufacturing sector contracted for a third consecutive month in September, suggesting that the world's second-largest economy is not immune to global headwinds although few analysts expect a hard landing."
China Banks Shunned as Investors Eye 2003 Low in Credit Bust (Updated)
"The cheapest Chinese bank stocks since 2004 may drop further as the three-year credit boom that created the world's most profitable lenders shows signs of turning into a bust."
China's Wenzhou City Moves to Ease Funding Crunch
"More than two-dozen small, private businesses in the eastern city known for its entrepreneurial success have gone belly up in recent days because they couldn't repay maturing bank loans, according to state media reports."
Economic Slump Hits China in Earnest
China hard-landing fears hit high-end retailers

## UK ##
Navy issuing first 1,000 redundancy notices
Renewable energy production drops in Scotland
Unpublicised E coli outbreak leaves 250 ill and one dead
Speed limit rise would increase deaths and pollution, admits government
Weather breaks September records

## US ##
Shilling Sees Evidence of Deflation in 5 of 7 Key Areas; Bernanke Begs Congress for Fiscal Stimulus, Admits Fed is Out of Bullets (Mish)
Manufacturing Decoupling Comes To America As Chicago Breaks Away From Rest Of Country
Morgan Stanley Seen as Risky as Italian Banks
China tech stocks dive on threat of US fraud probe
Hmmmm... -- RF
U.S. CEOs in no mood to hire, spend
"The CEOs of American's biggest companies are not in a hiring mood – and more of them say they expect to announce layoffs in the coming months."
US consumers go AWOL, taking recovery with them
Real Disposable Personal Income Drops Second Consecutive Month; Drop is Highly Deflationary (Mish)
US Consumer Taps Out: Personal Savings Rate Drops To Lowest Since December 2009
No Rise in Home Prices Until 2020: Bankers
Golden parachutes: Outsize Severance Continues for Executives Despite Failed Tenures
Great American Fire Sale: Cash-Short, U.S. Weighs Asset Sales
Generator Sales Surge After Recent Wave of Storms
"As the U.S. electrical grid ages, the number of power outages affecting more than 50,000 customers more than doubled between 2005 and 2009 when compared to the previous five-year period, according to Massoud Amin, director of the Technological Leadership Institute at the University of Minnesota."
Stocks Slump as Quarter Ends
41,000 people in Michigan to lose welfare
Cash will get more valuable
Forecast says double-dip recession is imminent
First International Bank is 74th failure of 2011
Airline stocks replay 2009 on recession fears
Flight Cancellations on Record Pace
"Not only is air travel getting more expensive, passengers are more likely to face competition for fewer seats and more cancelled flights. Capacity is falling as airlines eliminate low-traffic routes and cancelled flights are on a path to exceed 2% of all scheduled flights this year."
Remember: In the future, only the rich will fly. -- RF
How Big Business Influences The Super Committee Members

And finally...
Company will load loved ones' ashes into ammunition
A Russian Sect Honors Putin as a Saint

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