Saturday, September 17, 2011


News Links, September 18, 2011

## Global economic meltdown ##
At eurozone meeting, ministers find unity only in rejecting Geithner
EU finance ministers break no new ground on debt crisis
EU ministers see need for stronger bank sector
Greek Collateral Deal Within Reach: French Minister
Is September 20 Greek Default Day?
Banks 'Quietly' Lobby BRICs for Greece Aid
"A group that represents the world's biggest banks is trying to persuade Brazil, Russia, India, China and others to lend 20 billion euros ($27.6 billion) to supplement a debt refinancing package for Greece."
Stock market has second-best week in a year
It's amazing that anyone could find reason for optimism. Go ahead, put your nest egg in the stock market. But don't come crying to me later when you lose your shirt. -- RF
Moody's Continues Review of Italy's Aa2 Rating
China backs Belarus with $1bn loan
"China has given cash-strapped Belarus a loan of one billion dollars and a grant of some 11 million, the Belarus parliament said Saturday, quoting the head of the Chinese National People's Congress."
Record number of IPOs shelved worldwide
China Commerce Official Urges Aid on European Debt

## Fault lines/flashpoints/military ##
Attack in western Ivory Coast kills 15: state TV
"Gunmen attacked Ivory Coast's armed forces in the southwest of the country overnight on Thursday and 15 people were killed, state television said on Saturday."
22 killed in Syria as pressure mounts on Assad
Khamenei warns Arab revolts against trusting the West
"'Never trust America, NATO, and criminal regimes like Britain, France and Italy -- who for a long time divided your lands (among themselves) and plundered them,' Khamenei said as he opened a two-day conference in Tehran on 'Islamic Awakening' attended by several hundred guests from Arab countries."
Massive U.S. Embassy In Iraq Will Expand Further As Soldiers Leave

## Global unrest/mob rule/angry people ##
Overnight shooting in Yemen's capital wounds 8
Yemen: Anti-Government Protesters Storm University
Protesters Converge on Lower Manhattan, Plan 'Occupation'
Bahraini protesters, police clash after man's funeral
Protests getting out of hand (Wisconsin)

## Energy/resources ##
Pakistan search for energy could run afoul of U.S. Iran sanctions
"Pakistan's power supply network is in deep crisis, pounding the economy and making life miserable for average Pakistanis. But one of the solutions that Pakistan has proposed to fix the problem, a natural gas pipeline from Iran, faces objections from the United States."
PSO stops diesel supply to Railways
"Pakistan Railways is experiencing a severe shortage of fuel and according to officials, if diesel is not received by tonight then operating trains will become difficult, a private television news channel reported on Saturday."
Zambia's Mining Returns To Normal After Power Outage
Take note: Mines also don't operate without electricity. -- RF
Shortage of rare earth metals results in higher CFL prices
Acute coal shortage looms large on power sector (India)
Fears over Queensland gas shortage increase
"THE Queensland government has no plans to set aside coal-seam gasfields for domestic use, despite warnings that $50 billion worth of gas export plants planned for Gladstone could leave local gas users short of supply."
Yanbu Cement Says Production Line to Be Delayed on Fuel Shortage
"Yanbu Cement, a Saudi Arabian cement maker, said that a production line scheduled to open by the end of this month will be delayed because of a lack of oil and natural gas needed to power its output."
There Will Be Oil (WSJ)
"For decades, advocates of 'peak oil' have been predicting a crisis in energy supplies. They've been wrong at every turn, says Daniel Yergin."

## Infrastructure scavenging ##
Cable thefts that cause rail chaos could be inside jobs, say police (UK)

## Got food? ##
India Soybean may lose bumper harvest to latest downpour

## Environment/health ##
Miami Invaded By Giant, House-Eating Snails

## Intelligence/security/internet/systemic breakdown ##
Roche Keeps Drugs From Strapped Greek Hospitals
"Swiss drug giant Roche Holding AG has stopped delivering its drugs for cancer and other diseases to some state-funded hospitals in Greece that haven't paid their bills, and may take similar steps elsewhere, a stark example of how the European debt crisis that has jolted global financial markets is having a direct effect on consumers."
Boeing 747-8 Hits 'Horrendous' Setback

## Japan ##
Chugoku Electric says can meet peak winter demand
Tepco Scraps Plan To Raise Power Charges
Head of nuclear watchdog criticizes TEPCO over blacked-out documents
Damaged nuke plant may lose insurance
Japan to send 300 military engineers to South Sudan
Could this have something to do with oil? -- RF
Japan Mulls Sending GSDF To South Sudan For UN Peacekeeping Mission
South Sudan gets more interesting by the minute. -- RF
Govt may sell shares in JT, Tokyo Metro / Would cut role of tax hikes in reconstruction
Fire sale, fire sale, fire sale. -- RF

## China ##
Local government financing is China's 'subprime': Cheng (China Daily)
"Borrowing by thousands of companies set up by China's local governments to fund construction is the nation's equivalent of the United States' subprime mortgage crisis, said Cheng Siwei, a former deputy head of the country's top legislative body.
"'Our version of the US subprime crisis is the lending to local governments, which is causing defaults,' Cheng said at the World Economic Forum in the Chinese city of Dalian on Friday."
China SGCC sees power woes to extend into 2013: reports
"Areas served by the State Grid Corp of China (SGCC), the country's dominant utility firm, will face "fairly large" power shortages this winter, with the outlook worsening over the next two years if coal supplies stay tight, State media quoted a company executive as saying."

## UK ##
Anger at soaring cost of gas and fuel
Wind farm paid £1.2 million to produce no electricity

## US ##
Operation Twist: Week Ahead: Fed Expected to Launch New Program While Europe Debt Troubles Bubble
Blackout lawsuits raise stink over spoiled food
This was just a preview of the food catastrophe awaiting us when the cold chain breaks down. -- RF
Southwest Power Outage Economic Cost Put At $100M
Consumer sentiment drops. Inflation expectations rise.
States struggle for financing to meet road needs
"America's roads, bridges, transit systems are falling apart; who can and will pay to fix them?"
More on the Coming Wave of Foreclosures
Foreclosures surge in hard-hit Central Valley

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