Friday, September 23, 2011


News Links, September 24, 2011

## Global economic meltdown ##
Emerging Stocks Plunge, Boosting Prospects for Government Support Measures
China, Japan Say Europe Must Fix Own Crisis
Greek Parliament Vote on Austerity Postponed Due to Insufficient Votes; Slovak May Reject ESFS; EU to Abandon Greece
Moody's downgrades Greek banks
Singapore Inflation Unexpectedly Accelerates, Complicating Policy Decision
Over 5 million people living on 694 km2. How much room does that leave for farming? -- RF
ECB's Knot admits to chance of Greece defaulting
Gold slumps record $100; stocks edge up
"Gold prices slumped more than $100 an ounce on Friday, the biggest fall on record in dollar terms, as traders sold to cover losses, while global stocks edged up on expectations the European Central Bank will take new measures to contain the euro zone debt crisis."
Don't fall for this stock market pump-and-dump. This is a gold buying opportunity. -- RF
Insight: Hard lessons for Vietnam as property slumps
Warning of a stock market rout unless a eurozone rescue package is found
IMF Talks: Even Good News Doesn't Look All That Great
15-20 European Banks Need Recapitalizing: France Regulator
South Korea Government, BOK to Act on Falling Won
French, German Bank Credit Default Wagers Soar
Awaiting the Inevitable Defaults & Fireworks in Eurozone Crisis: Zervos

## Fault lines/flashpoints/military ##
New Delhi's Housing Boom Hits a Snag
"In the Indian capital's suburbs, protests over land rights have spooked prospective homeowners"
India Faces Standoff With China on Sea Oil
"India is being pulled into a complex and increasingly tense territorial dispute in the South China Sea, with China repeatedly warning ONGC, the Indian state oil company, that its joint exploration plans with Vietnam amount to a violation of Chinese sovereignty."
At UN, Turkey slams Israel and Iran slams U.S.
Mexican Drug Cartels Now Menace Social Media
For U.S. Air Force, the Cost of Operating Unmanned Aircraft Becoming 'Unsustainable'
Israel on high alert as Palestinians petition UN
U.S. Fears Pro-Palestinian Attacks On Embassies

## Global unrest/mob rule/angry people ##
'We Won't Pay': Greece's Middle Class Revolt against Austerity
Protest against agri land acquisition gathers steam (India)
Protests mark rising environment awareness in China
Bahrain police block protest march to capital
Chile students stage mass protest for education
Hundreds of angry China villagers protest state land grab
"Hundreds of villagers enraged over government land seizures staged a third day of protests in southern China on Friday, a day after ransacking government buildings and engaging in skirmishes with police that left at least 12 people injured."
Syrians Continue Protests, As Evidence Of Regime's Violence Mounts

## Energy/resources ##
Sand Mining Emerges As Another Fracking Threat
India may face 200 mn tonnes coal shortage
"Shortage in supply of coal from domestic sources is likely to exceed 200 million tonnes during the next (12th) Five Year Plan (2012-17) if proactive measures were not taken to bridge the demand-supply gap, Coal Minister Sripraksh Jaiswal said Wednesday."
Crude price nears 'tipping point' for new oil sands projects (Canada)
Here again we can see that if oil prices fall too low, costly new projects cannot be financed. Recall that after the crash of 2008, 60% of new projects in the Gulf region were shelved. -- RF
Marcellus Gas Drillers Face Potential 'Chaos' in Pennsylvania Legal Ruling

## Got food? ##
Challenge for cold storages is the availability of power (India)
On the heels of yesterday's video about cold-chain breakdown in the US, we have an article which mentions the challenge of getting enough power for all the cold chain infrastructure planned for India. But power shortages and outages are already common. -- RF

## Environment/health ##
Scores got sick, 1 died trying to kill bedbugs
Lives devastated by listeria as cantaloupe outbreak grows
Hospital drug shortages deadly, costly

## Japan ##
Fukushima Workers Risk Radiation to Feed Families
"Since the nuclear disaster at Fukushima, the power plant's operator TEPCO has relied on temporary workers to help bring the reactors under control. Many of the workers, whose radiation levels are measured daily, say they are not doing the work for Japan, but for the money."
Some people work at Fukushima. Others sell a kidney. -- RF
Japan launches new spy satellite to monitor N Korean missiles
Typhoon revives deep anxiety / March 11 survivors on edge after narrow escapes in mudslides

## China ##
China's Property-Market Squeeze Is Nearing a 'Tipping Point,' Nomura Says
"The squeeze on China's property market may be reaching a "tipping point" that drives growth lower just when exports are under threat from a global slowdown and investor confidence is plunging, said Zhang Zhiwei, Hong Kong-based chief China economist at Nomura Holdings Inc."

## UK ##
Prison population at all-time high
"The prison population in England and Wales reached an all-time high for the third week running today, figures showed."

## US ##
Dow Sinks 6.4% for Week
What Happens If FEMA Runs Out Of Money?
Operation Twist Just Paves the Way for QE III (Peter Schiff)
Poverty pervades the suburbs
Recall that Kunstler predicted that the suburbs would become the new slums. -- RF
Treasuries: 'Signs of fatigue'
Cash-Strapped Americans Can't Break the Overdraft Habit
Power outage hits Texas City refineries

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