Sunday, September 18, 2011


News Links, September 19, 2011

## Global economic meltdown ##
Greece braces for more austerity to avert default
Greece Nears a Tipping Point in Its Debt Crisis (NYT)
"'Greece's imminent default is assured,' Carl B. Weinberg, chief economist at High Frequency Economics in Valhalla, New York, wrote in an e-mail Sunday. 'Without an injection of cash within the next weeks, the nation will run out of resources to service its debt.'"
Danish Property Market May See Correction Amid 25% Overvaluation
Real estate bubbles are popping all over the world. -- RF
S. Korea May Set 2012 GDP Growth Forecast at 4.5%, Daily Says
That's a pretty ambitious target for a country that can't even keep the lights on. -- RF
German banks need 127 billion euros of more capital: report

## Fault lines/flashpoints/military ##
Turkey, Egypt to Drill for Natural Gas in the Mediterranean, Threatening Israel's Energy Dreams
China's growing might adds urgency to Taiwan arms calls
Merkel's party 'loses Berlin state election'
Deadly Taliban attack on Pakistan checkpoint
Pakistan flood victims sell possessions and beg
At least 26 killed in anti-Saleh march in Yemen
Mena faces shortage of 3.5m affordable homes

## Global unrest/mob rule/angry people ##
Police block 'Occupy Wall Street' protesters
Anonymous Occupation Of Wall Street - Here Is What You Missed (gallery)
More Scenes From This Weekend's Anti-Wall Street Protests In Lower Manhattan (gallery)
Over 500 villagers protest China factory pollution
"Hundreds of villagers in eastern China have been demonstrating in recent days against pollution they say is caused by a solar panel factory, with some protesters storming the compound and overturning vehicles, local authorities and residents said Sunday."
Protests against petrol price hike turn violent (India)
Government braces for planned transport strike (Philippines)
"The government has laid out measures to ensure order in a planned nationwide transport strike over oil price hikes on Monday."

## Energy/resources ##
Natural Gas: a Bridge to Nowhere? (Jan Lundberg)
Siemens Stops Building Nuclear Reactors as Germany Pulls Atomic-Power Plug
Broadwind Energy Plunges After Pricing Offering Below Market
No quick end seen to TNB woes (Malaysia)
"DOGGED by a severe and prolonged gas supply shortage, Tenaga Nasional Bhd (TNB) shares dipped to a low of RM5.01 last Thursday, a level not seen since April 2009, as worry mounts over a financial hit the utility giant is staring at."
Recent Blackout Highlights Nation's Rickety Power Grid (US)
"Experts say the cascading blackout that put millions of Westerners in the dark last week was no surprise: Major power outages have more than doubled in the last decade."
Trains stopped for lack of fuel (Pakistan)
"The Pakistan Railways on Saturday experienced severe fuel shortages and the utility had to halt train operations on its various routes. It was learnt that the Pakistan State Oil stopped the supply of high speed diesel to the cash-strapped department when the Railways' cheques, amounting to Rs300 million, bounced back."
Mumbai reels from pricy petrol burden; angry customers allege hoarding (India)
"Thousands of motorists were left standing in serpentine queues at petrol filling stations, causing chaos at many places in the city.
There were reports of stone-pelting and roadblocking on Thursday night with buyers getting into skirmishes with petrol pump staff."
US oil companies will soon be allowed to work in South Sudan: official
Masdar shelves world's first solar energy export project
"Masdar shelved plans for the world's first building that makes more energy than it consumes, a year after the financial crisis forced the Abu Dhabi company to step back from setting up the first carbon-neutral city."

## Got food? ##
Poor corn crop may send food prices up (US)
SoCal food prices take biggest jump in 3 years

## Environment/health ##
Sick Gulf residents continue to blame BP (Al Jazeera report)
"Many people living near the site of the BP oil spill have reported a long list of similar health problems."
Maggot Therapy Shown to Work. Yuck
"Maggot therapy, a medical technique since Biblical times, declined after antibiotics came into use in the 1940s. The treatment is now undergoing a resurgence as a potential cheap alternative for patients with wounds infected with drug- resistant bacteria."

## Intelligence/security/internet/systemic breakdown ##
Intel officials' emails posted after hack of cybersecurity group

## Japan ##
Tokyo faced evacuation scenario: Kan
Local governments in Fukushima experiment with radiation-removing techniques
Japanese Panel Calls for $146 Billion Tax Increase
Tohoku autumn delicacies go uneaten / Curbs on produce shipments, radiation fears dry up normally busy season
Floodgates in Tokyo fail tsunami's test

## China ##
China Home Prices Keep Rising, Challenging Curbs
China Boosted Holdings of Treasuries to Highest Since October
"'They continue to buy notes and bonds every month because they've got so much money,' said David Ader, head of government bond strategy in Stamford, Connecticut, at CRT Capital Group LLC. 'If they stopped buying, they wouldn't have much else to do with the cash, so they buy.'"
China's brave new world of P2P credit

## UK ##
Freezing winter for millions in fuel poverty
Homeless being turned into 'modern slaves' by criminal gangs, says charity

## US ##
NASA plan won't make up for job losses
Another chapter in the decline of space exploration. -- RF
America's costly war machine
"To date, the United States has spent more than $2.5 trillion on the wars in Iraq and Afghanistan, the Pentagon spending spree that accompanied it and a battery of new homeland security measures instituted after Sept. 11.
"How have we paid for this? Entirely through borrowing."
Looming U.S. Winter May Repeat Cold, Snow
N.Y. braces for winter as price of heating oil rises
Northeast farmers warn of Irene pumpkin shortage
Monthly Terror Drills Now Required By Law For Students Including Kindergarten And 1st Graders
Tiny RI takes on enormous public pension problem
"The state is on the hook for billions of dollars' worth of pension benefits owed to police officers, firefighters, teachers, judges and state workers. But the money's not there. Projected investment gains never happened. "
BofA Said to Keep Countrywide Bankruptcy as 'Nuclear Option' to End Losses
Poverty In America: A Special Report
Chicago-area foreclosure filings, unemployment increase
Poverty grows in Rick Perry's Texas
Alabama County Nears $3.14 Billion Settlement, Avoids Historic Muni Bankruptcy
This just puts off the inevitable. -- RF

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