Thursday, September 01, 2011


News Links, September 2, 2011

## Global economic meltdown ##
Greece budget watchdog warns 'debt is out of control'
Greece WILL Miss Its Deficit And Privatization Targets, Part Of Bailout In Jeopardy
Belarus Runs Out of Meat as Russians Exploit Currency Plunge
Growth in global manufacturing evaporates in Aug -PMI
Eurozone manufacturing hits 2-year low
Swiss GDP Grew Weakest Pace Since 2009
BRICs No Cure for Global Economic Growth as Avon Shares Sink
Pot Calling Kettle Dept.: US Has an 'Enormous' Debt Problem: ECB Official
Finland's Collateral Deal with Greece Off: Ireland
Emerging Markets Deteriorate, No Cure for Global Economy
Poland central banker: Euro bonds look more likely

## Fault lines/flashpoints/military ##
The race is on for Libya's oil, with Britain and France both staking a claim
Russia, in swift about-face, recognizes Libyan rebels
In Africa, U.S. Watches China's Rise
India fails dismally to provide housing for poor
"India's efforts to provide decent homes for the millions of people living in slums across the country have been worse than pathetic, new figures released by the Ministry of Housing and Urban Poverty Alleviation have revealed (to nobody's surprise)."
Iraqis Want Mercs, Not U.S. Troops, To Stick Around
Philippines, China seek South China Sea code of conduct
When push comes to shove, all this will go out the window. -- RF
Drug-Related Mexican Violence Soars, As US Policy Bolsters Cartels
South Korean navy deploys Mistral
GCC must beef up coastal security against pirate attacks
Arab Spring to spur arms exports to Middle East
U.S. Army May Cut 10 Active-Duty Brigades
The Empire reduces its legions. -- RF
Israel installs third Iron Dome battery

## Global unrest/mob rule/angry people ##
Syrian violence 'intensified despite Ramadan'
Thousands march at Bahrain teenager's funeral
Pakistan's Biggest City Torn By Ethnic Violence
Israeli protesters face moment of truth
Israelis Protest the High Cost of Living - And Prevail

## Energy/resources ##
Electricity Commission Expects Higher Electricity Rates For Population After December (Ukraine)
Power woes hit steel prices (Tanzania)
Ghana: Water, Electricity Prices Go Up By 7 Percent
Brazil Wind Farms May Struggle to Deliver Power at Lowest Rates
SA's power prices approach affordability 'tipping point'
"South Africa's electricity prices, which have more or less doubled from an average real level of 25c/kWh in 2008 to the current level of 50 c/kWh, were approaching an affordability 'tipping point', the Energy Intensive User Group (EIUG) cautioned again on Monday."
Industry warns of power price spike (Australia)
Germans Face Blackout Risk
Solar energy company collapse a worrisome sign for 'green-tech' hopes
Indian steel industry facing severe shortage of iron ore: Maya Iron Ores

## Got food? ##
Cattle shortage sends Sth American prices higher
Hurricane Irene adds to US farm woes. Will it raise food prices?
Food inflation hits double digits in mid-Aug, brings misery (India)
Inflation Soars to 21.4% in Uganda As Food Shortage Worsens

## Environment/health ##
Texas, Okla. fires flare up, more evacuated
New Orleans starts preparing for possible Gulf storm
Space junk reaching "tipping point," report warns
Second giant ice island set to break off Greenland glacier
Bedbugs found in a NYC school

## Intelligence/security/internet/systemic breakdown ##
American, 2 Russians set to leave station, return to Earth Sept. 15
Cargo theft top supply chain concern in US survey

## Japan ##
Reactor Restarts First Energy Hurdle For Japan's Noda
Tepco plans to flood reactors, extract fuel
Groundwater around Fukushima nuke plant to be protected by underground steel barrier
Japan's Tepco denies double-digit pct price hike report
However, nine of Japan's 10 regional electric utilities and four major gas companies have all announced that they are jacking up rates due to higher prices for fuel imports. Hokkaido Electric, the power utility that serves the northern island, is the only power company that will not raise rates now. -- RF
Moody's Japan Downgrades 7 Rail, Gas, Telecom Firms
Japan Auto Sales Drop 25% In August, 2H Recovery Eyed
Noda maintains tough stance on Japan's territorial disputes
Japan Aug nuclear plant usage falls to record low

## China ##
Worst August in 7 years for new housing sales
Dongfeng Motor H1 net down 10 pct on parts shortage
Fitch Reiterates Warning on China's Banking System
China faces rude awakening about inflation

## UK ##
Defence cuts: more compulsory redundancies to come
BCC cuts its forecast for UK economic growth in 2011
"The British Chambers of Commerce (BCC) has downgraded its forecast for UK economic growth this year for the third time."
Britain Tries for a Second Industrial Revolution

## US ##
Current generation could be less educated than parents
As I've pointed out repeatedly, education and training for industrial/technological society require a lot of energy. That is a major factor behind the globally building shortage of engineers and skilled workers. Thanks to the lack of cheap energy, industrial civilization is no longer able to carry its own weight. -- RF
Internships to address engineering needs
The situation is getting desperate. -- RF
NASA's technology depleted, report says
"NASA's technology base is 'largely depleted' and the agency hasn't been producing the breakthroughs needed to achieve new goals, the National Research Council said on Tuesday."
White House sharply cuts growth forecast
Domestic manufacturing weakens in August
Job insecurity is a rising fear among the employed
Magnitude 4.3 earthquake rumbles across Los Angeles region
Flood victims still in the dark, stuck in mud
Hurricane power outages endanger those on home medical machines
East Coast Quake Rattled Nuclear Plant's Waste Casks
"The earthquake that shook the East Coast last week rattled casks holding radioactive nuclear waste at a Virginia plant, moving them as much as 4.5 inches from their original position, the plant's operator said.
"The 5.8-magnitude quake shifted 25 casks, each 16 feet tall and weighing 115 tons, on a concrete pad at Dominion Resources Inc's North Anna nuclear plant."
Unions Sue New Jersey Governor Christie Over Pension and Health-Care Benefits
State Takeover of Pennsylvania State Capital Harrisburg Likely Coming Up as City Council Rejects Mayor's Fiscal-Recovery Plan
Nissan, Kia U.S. Sales Surge as Toyota, Honda Decline Amid Parts Shortages
"More than five months after the 9-magnitude quake, U.S. dealers still have limited supplies of Toyota's Prius hybrid and Honda's Civic small car as the carmakers grapple with parts and power shortages in Japan."
Nearly a half year after the disaster, the effects of supply chain disruption are still being felt. -- RF
Fed Will Continue to Prop Up Stocks at Your Expense
Shadow inventory Armageddon – Foreclosure timeline up to an average of 599 days with 798,000 mortgages having no payment made in over 1 year and no foreclosure process initiated. Shadow inventory grows to over 6,540,000 properties. (Dr. Housing Bubble)
More than half of U.S. mailboxes have disappeared

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