Monday, September 12, 2011


News Links, September 13, 2011

## Global economic meltdown ##
Global economy living on the edge
Greece Default Risk Jumps to 98%
Greece has cash until October: deputy finance minister
Greek 1-Year Debt Yield Hits 108%
Greek Bank Deposits Decline For 7th Month In A Row: Tax Collectors Celebrate By Striking
'Only a Matter of Time' Before Greek Default: Bove
Merkel Allies Break Taboo With Greek Default Talk
"Senior politicians in German Chancellor Angela Merkel's center-right coalition have started talking openly about a Greek default, reflecting mounting concern in Europe's biggest economy about the debt crisis and pressuring Greece."
European Banks Valued at Post-Lehman Lows Show Sovereign Risks Are Growing
Europe's Crisis Draws Closer to the Grand Finale
"UBS, a large investment bank, has even warned of trade collapse, domestic banking collapse, and the threat of civil war as a possible cost of break-up."
French banks hit as SocGen ditches assets
Funds' Cuts to French Banks Could Force Asset Sales
Crucial Italy austerity package enters home stretch
Italy Turns to China for Help in Debt Crisis
As A Reminder, Here Is What China REALLY Thinks About Italian Bond Purchases
Dow Could Crash to 3,000 in 2013: Author
Europe bank, sovereign CDS spreads hit records
Euro slumps to 10-year low vs yen as Greece worries mount
India Industrial Output Growth Slows Sharply
Home sales take a big knock, set to worsen (India)
New generations in Europe tipping into homelessness
In Hungary, the Jobless Go to Labor Camp
Nakheel wrote off $21.4bn after Dubai property crash

## Fault lines/flashpoints/military ##
Egypt's military rulers ignored pleas from US as mob attacked Israeli embassy
"Egypt's military leaders have been accused of turning a blind eye to the mob attack on Israel's Cairo embassy at the weekend as it emerged that they ignored repeated telephone calls from the Obama administration."
Israel facing 'diplomatic tsunami' with Arab neighbors
Israel seeks to boost UAV strike power
Flotilla raid was 'cause for war': Erdogan
Turkey asks US to base Predators on its soil: report
In light of sea claims, Aquino orders tighter security around archipelago
"Amid unresolved territorial claims in the West Philippine Sea among several countries that include the Philippines, President Benigno Aquino III has signed an order that would ensure the country's entire archipelago would be guarded against maritime threats and other security concerns."
Naval chiefs warn of rise in Somali piracy
"Military commanders are expecting a sharp rise in attacks by Somali pirates amid shipping industry warnings that the problem is worsening in the Indian Ocean."
Libya could fall into hands of extremists, Nato warns
Gadhafi loyalists attack oil refinery
Breaking Ties: Libyan Rebel Coalition Splinters
US Troops in Libya to 'Secure Embassy'
"Before American involvement in NATO's attack on the Gadhafi regime began, the administration insisted there would be "no US boots on the ground" in Libya. That promise has been stretched under the presence of CIA agents, but today the first publicly admitted uniformed American soldiers are now in fact on the ground, boots and all."

## Global unrest/mob rule/angry people ##
India: Seven killed as police open fire on protesters
Jordan protest threatens to emulate embassy storming
"Facebook page calls Jordanians to attend 'million-man rally' outside Israeli embassy in Amman on Thursday; organizers announce masses will attempt to break through building, take down Israeli flag"
Increased security around Israeli embassy in Jordan reported
Egypt activists condemn revival of emergency law
Greece braced for mass protests as austerity cuts bite
Jos unrest: Nigerian President Jonathan takes control
Syrian troops raid villages
"Syrian troops mounted deadly new raids against dissent as President Bashar Assad's embattled regime won key support from longtime ally Russia, which said a UN resolution on Syria must not contain sanctions."

## Energy/resources ##
Renewables Outlook Cloudy But Not Bleak, Say Analysts
P1.62B to prevent power shortage released (Philippines)
"The P1.62 billion was immediately released by the government to urgently address the NPC's capability to provide stable power supply in off-grid areas, some of which have already experienced sporadic brownouts due to fuel supply constraints."
India coal shortage spurs larger debate
"Dozens of power plants under construction across India, amounting to more than $22 billion in investment, will sit idle next year because of the coal shortage, officials say."
Coal sector rebuilding takes longer than forecast
"REBUILDING Australia's coal exports after devastating floods earlier in the year is taking longer than expected and could stretch on well into 2012, with mining companies now in a race against time as another tropical storm season looms."
Is Thorium the Biggest Energy Breakthrough Since Fire? Possibly.
Sounds great! But can you guess what the catch is? -- RF
Asian power surge to see no let-up as thermal demand goes gangbusters
"EACH year, from now until 2016, there will be shortages of thermal coal in Asian markets."
Explosion kills one at French nuclear waste plant; no leak found
OPEC Hints at Output Cuts
Indian coal demand to go up to 1 billion tonne by 12th Plan end
Meet The World's Biggest Consumer Of Electricity (KSA)
Israel vows to defend gas after Turkey threatens to boost navy patrols in Mediterranean

## Got food? ##
Hunger strikes Pakistan as food prices jump by 74%
"Hunger has struck Pakistan as the food prices there have shot up 74% in 3 years as per the authorities of planning commission.
"According to Pakistan's Planning Commission, 'given the continued sharp increase in prices of staples, mainly wheat, vegetables, ghee and sugar, during the second half of 2010, and follow up in the first half of 2011, the number of people suffering from chronic hunger is likely to have increased further.'"
Kansas corn harvest forecast down 19 percent from last year
Wheat Rallying as Great Plains Drought Overcomes Surge in Russian Exports

## Environment/health ##
Floods bring chaos to India and Pakistan
Arctic sea ice is melting at its fastest pace in almost 40 years

## Intelligence/security/internet/systemic breakdown ##
Is a 'cyber 9/11′ inevitable?
Discovering Limits to Growth (Do the Math)

## Japan ##
Japan city on border of nuclear no-go zone fights for survival
"A line dividing the no-go zone around the Fukushima nuclear plant and the area deemed safe from radiation cuts right across this coastal city but the 'good' part is starting to look very much like the ghost town on the other side."
Death industry reaps grim profit as Japan dies
Russia defends bomber flights near Japan
Japan companies shut out of Forbes list of Asia's top 50
'Smart cities' envisioned / Raft of high-tech green energy projects planned in devastated areas
The "smart cities" will never be built. -- RF

## China ##
Blue Dragon Mountain: the Chinese village 'that doesn't exist'
"It is a story that could be told a thousand times a day in modern China: bow-legged peasants driven from their homes and swept off their land with scant compensation in the name of China's headlong rush for economic development."
Chinese Property Prices Will Decline in Next 12 Months, Shui On's Lo Says

## UK ##
Living standards to suffer as effects of recession bites
Roads closed and ferry cancelled as winds batter Wales
Storm from Hurricane Katia set to hit Scotland
David Walliams's Thames swim: it will take a super-sewer to get London out of this mess
2,000 nursing places have been cut
"Around 2,000 places to study on nursing, midwifery and clinical health care university courses in England have been cut, research has found."
Third of motorists driving without insurance
UK unions threaten showdown over austerity cuts

## US ##
Troubled Harrisburg facing state takeover
One in seven drivers has no insurance
Many older adults scramble to pay for food
Doctor shortage closes Princeton emergency room
"Princeton General Hospital is not new to doctor shortages. At least three times this year, the emergency room has had to shut its doors to walk-in patients because there were no doctors on staff."
Power failures prompt outrage: Residents losing patience with aging system's problems (Detroit)
BofA plans 30,000 job cuts; investors underwhelmed
Obama plan to pay for jobs program murky
S&P Could Fall 20%, 2-Year Treasury Hit 0%: Analyst
Wall Street Job Cuts on the Way (CNBC video)
Owners abandon donkeys as feed cost raises
Concealed Handguns in New York City Backed by 243 Members of U.S. Congress
Americans going to Canada to find work
Social Security a Ponzi? – I think so
Harsh new realities for the military industrial complex
Massive default is best way to fix the economy (MarketWatch)
Credit Card Debt Soars as Americans Borrow Like It's 2006

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