Friday, September 16, 2011


News Links, September 17, 2011

## Global economic meltdown ##
China to 'liquidate' US Treasuries, not dollars
A Slow-Motion Bank Run In Europe
Record Amount of IPOs Pulled As Volatility Spooks Companies
Event Risk Remains Huge Despite Central Banks' Intervention
Lehman Brothers II crisis is coming soon: Canadian strategist says debt will produce 'ugly' result
Annual loss of 3-4% GDP due to power shortages (Pakistan)
Italy's Debt Remains Under Review for Downgrade by Moody's
Navarra Region of Spain Bankrupt by End of Year "No Money to Pay Workers or Provide Services"; Electricity cut off to Spanish town over unpaid bills (Mish)
Spain raises taxes on the rich
Euro Oversold As Shorts Surge To Highest Since June 2010
Middle East banks fail to offer access to finance

## Fault lines/flashpoints/military ##
U.S. expands its drug watch list to include all Central America
"The White House on Thursday added tiny El Salvador and Belize to its list of drug producing and transit countries, placing for the first time all seven Central American nations on the list in a sign of how awash in illegal narcotics the region has become."
Cyber Attack Threats Added to U.S., Australia Defense Treaty
Turkey mulls expanding sway in Middle East by Erdogan's diplomatic whirlwind (Xinhua)
U.S. Can't Track Tons of Weapons-Grade Uranium, Plutonium (Danger Room)
China paper warns US against Palestinian UN veto
Advanced US drone set to watch over North Korea: report
Kosovo, EU deploy customs, police in restive North
Times poll finds a souring mood among troops (Army Times)
"After a decade of war in Afghanistan, many troops are losing confidence in the long-term likelihood of success for the U.S. military mission there, and their overall support for President Obama has slipped, according to the latest Military Times annual reader survey."
Food Shortage and Starvation Bringing Down Half of North Korea's Army

## Global unrest/mob rule/angry people ##
Protest against irregular water supply turns violent (South Africa)
Jordanians protest against ties with Israel
Egyptians rally against emergency laws
Mayor Bloomberg Warns Of Rioting If Unemployment Remains High
Even amid eurozone crisis, Italians chafe at deeper cuts
Incredible Photos Of A Greek Man Setting Himself Alight Over Debt
Deaths reported as Syrians stage protests

## Energy/resources ##
Blackouts hit S. Korea due to high temperatures
Alert readers will recall that just the other day (this link), some Japanese companies were reportedly saying they were considering relocation to South Korea because of the reliable power supply. Heh. -- RF
TNEB to face power shortage of 659MW (India)
Power outage knocks out traffic signals, leaves 2,000 in the dark in southeast Denver
Zambia copper region hit by blackout : power company
Energy body ends strategic oil reserves release
"The IEA said on Thursday that it ended its release of oil from strategic reserves begun in June to compensate for a cut in supplies from Libya, just days after forecasting resumed production in the country."
Peak Oil and the Unsustainable Growth in Oil Demand
"The difference between supply and demand, which for a while amounted to 1.4 million b/d, has been coming out of global stocks which have been slowly falling in recent months."
Renewable Energy Sector to Face Increasing Economic Challenges
North America has high potential for oil
The world has plenty of oil and gas left. But the problem is the growing expense of extracting it. -- RF
Adam Smith got it way, way wrong!
Calls For 50% to 100% Upside in Energy Stocks

## Infrastructure scavenging ##
Trains halted after new cable theft (UK)

## Got food? ##
Food inflation is far worse in grocery stores than restaurants (US)
Anemic corn crop more fuel for ethanol's critics (US)
Thai rice plan risks boosting world price

## Environment/health ##
Listeria infection kills 4, sickens others in states including Texas, NM
Warming Atlantic affecting fish populations

## Intelligence/security/internet/systemic breakdown ##
Stock exchanges face threats despite stronger security
Computer fault delays Christchurch flights
"Flights are being delayed at Christchurch Airport after a network failure crashed the facility's computer system."

## Japan ##
Tepco Compensation Rules Outrageous, Fukushima Evacuees Say
Tepco plans to sell 280 properties to raise ¥200 billion
Most core detectors found damaged at Fukushima No. 1 reactor
Fukushima clean-up may require removal of 100 million cubic meters of soil
Fukushima residents fear being stuck with radioactive soil
Radiation fears, shipment bans, weigh heavily on mushroom pickers, growers
Industrial power sales continue slide
March quake payments to hit 1.2 tril. yen
"Earthquake insurance payments resulting from the Great East Japan Earthquake are expected to reach 1.2 trillion yen, approximately 15 times the previous record of 78.3 billion yen paid after the Great Hanshin Earthquake in 1995, an industry association has announced."

## China ##
China seeks to tether the microblog tiger
China Next To Get Gold Dispensing ATM Machines
Multinationals Rush To China; Foreign Investment Rises 11% In August
China falls back in love with the bicycle

## UK ##
Blackberry's UK service would be closed if ordered
Prison numbers in England and Wales reach record high

## US ##
Thousands of protesters to 'Occupy Wall Street' on Saturday
US municipal market shrinks for two straight qtrs
Retail sales stagnate, but not unexpectedly
"During bad economic times, everything contracts. Let's stop being surprised by it."
Donald Trump gets paid in gold bars
The New Face of Foreclosure: Strategic Defaults
Casinos multiply as states, such as Massachusetts, hunt for jobs, revenue
Postal Service move would delay mail by a day
Latest sign of hardship: Families unable to bury loved ones
As California Headed Back into Recession, the San Francisco FED Was Declaring Recovery
Does Wall Street matter? Not for the 46.2 Americans living in poverty
The Coming Collapse: "We Can Buy Time, But We Can't Change the Outcome" (Yahoo Finance video)
Forget Operation Twist: Rosenberg Says Bernanke Will Shock Everyone With What Is About To Come
Consumer Hope for Future Hits Lowest Level Since 1980
Lobbyists seek to penetrate debt committee
U.S. Household Worth Declines by $149 Billion
Credit Crisis the Result of Greatest Financial Crime in World History. Where are all the convictions?
USPS Rate Increases Could Cripple Magazines and Printers
Household debt declines for 12th straight quarter
"Household debt dropped for the 12th consecutive quarter, according to second-quarter data released by the Federal Reserve on Friday that shows the continued drag from the bursting of the housing bubble."

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