Sunday, September 11, 2011


News Links, September 12, 2011

## Global economic meltdown ##
Germany May be Ready to Surrender Over Greece
Greece announces new property tax
Goodbye Euro, Hello Drachma
France Says Euro Survival Crucial; Wants Stronger Yuan
IMF's Lagarde: report of $273.2 billion bank hole misleading
Indians shift gold buying to bars from bangles
India Struggles to Tame Inflation, Spare Economy
Tanzania's Economy Grew at Slower Pace in First Quarter on Power Outages
Auto Outlook: Saab's demise sign of times
Global warming no hoax to insurance companies: Severe weather is already costing us
Australia Housing Bears Point to Shortage 'Myth'
"Australia, where home prices are falling at the fastest rate in more than two years, may have a glut of properties and be set for a U.S.-style crash."
Europe Banks Valued at Post-Lehman Low
Europe May Need to Bail Out, Nationalize Some Banks, Westpac's Jones Says
Facts on the Pan Asian Gold Exchange (PAGE)
Slow Growth, High Inflation (MarketWatch video)

## Fault lines/flashpoints/military ##
Iraq's Sadr says to halt attacks on U.S. troops
"Iraq's fiercely anti-American cleric Moqtada al-Sadr on Sunday called on his followers to suspend attacks against U.S. troops to ensure they leave Iraq by a year-end deadline.
"But he warned that if U.S. forces do not depart on time, military operations would resume and would be 'very severe.'"
Harvest of Hypocrisy? UK opium poppy farming kept hush-hush (RT video)
War on drugs! -- RF
Analysis: Religious tensions simmer in Malaysia
IMF recognizes NTC as Libyan government: Lagarde
No U.S. plane forced down by North Korea jamming: source
Syrian forces raid homes after week of bloodshed
U.S. Predator Drones Could Be Based In Turkey: Report
Afghan truck bomb hits US troops in Wardak
"Almost 80 US troops have been injured and two Afghan civilians killed by a suicide truck bomber on a military base in the eastern Wardak province."
South China Sea disputes: Harbinger of regional strategic shift?
"But the equilibrium seems to be fast collapsing. Less than two weeks after the conference in Bali, the People's Daily, the official newspaper of China's Communist Party, published a front-page commentary that accused the Philippines of violating China's territorial sovereignty by building a military shelter on one of the disputed Spratly Islands. The article ended with a harsh warning: 'Those who make serious strategic misjudgments on this issue will pay the appropriate price.'"
Shippers want global anti-piracy task force
"Shipping industry groups have urged the United Nations to create an armed military force to be deployed on vessels to combat Somali piracy, describing the escalating crisis in the Indian Ocean as being like the 'wild West.'"

## Global unrest/mob rule/angry people ##
'Mob' attacked other people before store clerk beating (Dallas)
Store hit by flash mob robbed again (Ottawa)
Israel, Egypt try to stem damage from embassy riot
Japan anti-nuclear protests mark 6 months since quake
"Anti-nuclear protesters took to the streets of Tokyo and other cities on Sunday to mark six months since the March earthquake and tsunami and vent their anger at the government's handling of the nuclear crisis set off by meltdowns at the Fukushima power plant."
Three killed as police, protesters clash in TN (India)

## Energy/resources ##
Peru Gangs Step Up Fuel Theft
"Organized gangs in Peru are increasingly siphoning oil from the Northern Peruvian Pipeline, according to a report in La Republica."
LNG Tanker Rents Top $100,000 on Ship Shortage, Fearnleys Says
Power shortage to hit Vietnam till end of 2011 - EVN
NALCO temporarily cuts daily output on power shortage
Petrol theft crippling Hunter service stations (Australia)
Metals-Energy Update- Energies crush other asset classes, Nat gas top gainer

## Infrastructure scavenging ##
Stagecoach wants cable theft action (UK)
"A leading transport firm has urged the Government to introduce tough new measures to tackle a growing increase in cable theft from the railways which is causing mounting travel problems."

## Got food? ##
Food banks grapple with shortage
Mexico avocado price sparks fears of unrest
Thai rice subsidy scheme to push up world prices
Growers still grappling with shortage of water

## Environment/health ##
More wildfires erupt in Texas as it faces worst dry spell since 1895
Pesticides in food linked to ADHD in kids

## Intelligence/security/internet/systemic breakdown ##
In the Wake of 9/11: 33 of 50 States Are Actively Spying on Americans
Strauss-Kahn should stay out of French race: poll
Egypt police raid Al Jazeera office as sense of crisis grows

## Japan ##
Only 4 of 31 tsunami-hit sites have finalized reconstruction plans
Russia seeks 'calm' talks with Japan over disputed islands
Stronger yen pushing even small businesses abroad
Toyota Makes Prius a Priority in Recovery Push
Long article describes rocky road ahead for Toyota. -- RF
Japanese Economy Continues To Decline
Utilities research finds 14 fault lines near Japan's nuclear plants

## China ##
China Bank Lending Quickens as Tightening Relaxes
China Hits Foreigners And Their Employers With New Social Benefits Tax
Rising rents crushing dreams
"Happiness weighs heavily on the minds of most people from time to time, but rising rents are practically crushing Beijing's white-collar workers, tearing them away from a sense of happiness and dream-fulfillment."
Drought affects millions in China's Yunnan
This Should Be A Fantastic Lecture On Chinese Government Debt
"Looking broadly at all the liabilities in the formal financial system, debt owed by state-owned entities total over 60 trillion RMB as of late 2010."
The Two Year Anniversary Of "China's Ghost Cities" Epic Keynesian Fail
China's capital-hungry banks
"HONG KONG (MarketWatch) — It is hard to shake off the continued speculation about the health of mainland Chinese banks, as each week new details surface about problem loans. Many have feared that listed banks carrying out massive state-directed policy lending in the aftermath of the financial crisis was always going to be a recipe for some similarly oversized bad loans."

## UK ##
Food waste plan for old Abernant Colliery at Pontardawe
Like all such schemes, this just feeds off the waste stream generated by fossil fuels. -- RF
Government says state pension age is rising too slowly

## US ##
The Shocking Case for Dow 7,000!
A Deep Dive Into The Latest Beige Book
"Overall, the report shows an economy that probably has just enough activity to keep growth positive -- but just barely."
Is Manufacturing Falling Off the Radar in the US?
The Auto Industry Begins To Sink, Again
More Clues Of A Mega Mortgage Refinance Plan On The Way
Number of Underinsured Adults Rises by 80%
How Much Cash Would You Need After a Terrorist Attack?
Yea, there might be a "terrorist" attack. Or just plain collapse. The media are getting us ready. -- RF
Is the American Dream Slipping Away for the Middle Class?
The American Dream was never a sustainable idea. It was just another component of the giant Ponzi scheme known as the infinite-growth economy. -- RF
Caterpillar says has worker shortage despite job woes

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