Sunday, September 25, 2011


News Links, September 26, 2011

## Global economic meltdown ##
Real German debt may be 7 trillion Euros not 2 trillion: Professor
"BERLIN (Commodity Online): Contrary to the reported public debt of 2 Trillion Euros, the true German debt may well total 7 Trillion Euros as per calculations by Bernd Raffelhueschen, an economics professor at Freiburg University."
Fear gauge enters the red zone (Ambrose Evans-Pritchard)
"Europe's debt crisis risks escalating out of control as the world economy slides towards a double-dip slump with few shock absorbers left to limit the damage."
Under fire, Europe works to bolster debt crisis fund
Multi-Trillion Euro Bailout Plan Allegedly in the Works; Plan Has Failed Already (Mish)
China Rebuffs Hopes for Bailout
Gold is for the fool – if you are looking for safety
We are told that dollars and bonds are good havens! Here is someone who just does not see the big picture. Growth is dead. The US dollar is a dead man walking. And bonds? The coming haircuts will be done not with buzz saws, but with chainsaws. We'll see what he has to say about gold then. -- RF
Syria bans imports to save foreign currency
Vietnam September CPI Up 22.42% From Year Earlier
ASEAN infrastructure fund seen fueling regional boom
Whatever they build will fall into ruin because they won't be able to maintain it. -- RF
El-Erian Sees Global Economy Slowing Next Year
CDS Implied Probability of Default – Be Careful

## Fault lines/flashpoints/military ##
Gunfire, Possible Explosion at Kabul Building Believed to House CIA
Woman decapitated in Mexico in retaliation for social-network posts
Mexican newspaper editor Maria Macias found decapitated
SAUDI ARABIA: Reforms will allow women to vote but not drive
Saudi Arabia Requests Artillery, Radars, Ammunition, and Related Support (Includes list)
Pakistan army top brass meets amid U.S. tensions
Turkey Slaps Arms Embargo on Syria
Fears Vladimir Putin will turn Russia into outright dictatorship
Abbas declares 'Palestinian Spring'
Palestinians, Israelis Form Neighborhood Watches
Six explosions in Karbala province kill 10
Russia paints 'No Trespassing' sign in the Arctic
India tests nuclear-capable missile

## Global unrest/mob rule/angry people ##
Greek police fire teargas at protesters in Athens
Police arrest 80 'Occupy Wall Street' protestors
Unrest on Rise as China Booms
"In 2010, the world's second-largest economy was rocked by 180,000 protests, riots and other mass incidents—more than four times the tally from a decade earlier. That figure, reported by Sun Liping, a professor at Tsinghua University, rather than official sources, doesn't tell the whole story on China's turmoil."
Thousands of Moroccans protest in Casablanca
Saudi princess says no one immune from Arab spring

## Energy/resources ##
Eight-hour power outage a fatal blow to industries (Pakistan)
New Boom Reshapes Oil World, Rocks North Dakota
Before you are overcome by euphoria, consider this background article from The Oil Drum. -- RF
Oil Era's Twilight Drives Depression, Debt Crisis, Rifkin Says: Interview
However, Rifkin's prescription is a chimera. Renewables can't power industrial civilization. -- RF
Global Resource Crunch: The Chinese are Coming
Oil price jitters turn up heat on Gulf producers
Want cheaper oil? Be careful what you wish for. Here again we see that oil producers need high prices to balance their budgets, finance new exploration and development, and tamp down unrest. -- RF
Ignoring Daniel Yergin
"He is paid to soothe, and these days so soothing is his writing that it should be placed next to the Sominex on the drugstore shelf."

## Got food? ##
'Chinese corn imports touch record highs in August'

## Intelligence/security/internet/systemic breakdown ##
AT&T Cell Phone Problems Spread Across Los Angeles
Users report Gmail outage
Electronic Army's March Threatens Syrian Protests

## Japan ##
Anti-nuclear demonstrators demand plant in Tokyo
"Dozens of demonstrators rallied in Tokyo on Sunday, challenging Japanese authorities to build an atomic power plant in the capital to demonstrate their sincerity about nuclear safety."
This is a long-standing challenge... which the government has never taken up. That speaks volumes about the confidence of the government and utilities in nuclear power safety. -- RF
Towns doubt plan to lift hot zone advisory
28 million cubic meters of 'hot' soil in Fukushima / Ministry aims to set storage site guidelines
Hydrogen accumulates in pipes at Fukushima's No. 1 reactor
Government study team leaves for South Sudan

## China ##
Navy Driving China's Military Expansion
China, Tanzania Set to Engage in $3B Coal, Iron Ore Deal

## UK ##
Best cancer treatments could be 'preserve of the rich'
"The most effective cancer treatments could become the 'preserve of the rich' with the cost to the NHS rising towards £1 million per patient, a leading health care expert has claimed."
3,000 BAE job cuts 'a devastating blow'
Mark Thompson: Met's order to Guardian part of 'disturbing trend'

## US ##
Congress at Impasse Over Spending, Disaster Aid That Threatens Shutdown
Paul Ryan Sees Supercommittee Falling Short of Deficit Goals
State Farm pay $5 billion to cover weather damages
Once prosperous New Yorkers forced to live under canvas in New Jersey woods
Oklahoma ranks high in heavy equipment theft
Houston near top of heavy equipment theft list
New York struggles to bridge $80 billion chasm for infrastructure needs
10 states in double digit unemployment
The upside of economic worries: Lower gas prices
Army desertions drop as economy fizzles
The poverty draft lives. -- RF

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