Monday, September 26, 2011


News Links, September 27, 2011

## Global economic meltdown ##
Zloty Goes From First to Worst Amid Crisis
Pimco Forecasts Europe Recession Next Year
Markets catch fever as China sneezes, commodity prices tumble
'Massive jobs shortfall' predicted for global economy (Guardian)
Lots of Physical Buying while Paper Sells Off (Financial Sense)
"We are witnessing significant financial crises unfold around the globe as the culmination of decades of financial mismanagement, miss-allocation of capital, over-indebtedness and the ultimate demise of fiat currencies begins their final reckoning... While the road forward can take many turns, it should be clear that this final episode could spell the end of fiat currencies after a massive purging of global debt."
Greece is bullish but the markets brace for a major default
Greeks feel drip-drip torture of austerity
Morale Collapses in Greece Just as Nation Needs to Rally
Euro zone damps talk of rapid debt crisis steps
"Euro zone officials are working on ways to magnify the financial firepower of the euro zone's rescue fund to fight a sovereign debt crisis more effectively, a senior European Central Bank policymaker said on Monday."
Here's The Euro-TARP Bazooka Europe And The IMF Are Discussing Right Now...
Chinese IPO Troubles to Sting Bankers
Focus Goes to New Hazards: From Copper to Chinese Stocks to Junk Bonds, Signals Point to a Slowdown
MUST SEE Trader on the BBC says Eurozone Market will crash (video)
"They know the market is toast." "Get prepared." "Goldman Sachs rules the world."
Wow! A trader tells it like it is. Very candid, and enough to scare the crap out of John Q. Public. -- RF
Central Bankers the Only Defense Against Apocalypse: Economist
Escaping Crisis Gets Colonial for Portuguese as Economy Worsens
Desperate Times Lead to Desperate Lies; Europe Weighs the Weightless; Even Citigroup Sees the Lies
Marc Faber: "Gold Is Quite Oversold. I Will Consider Buying Gold Over The Next Two Days"

## Fault lines/flashpoints/military ##
Chinese marine research ship spotted near Senkaku islands
Pirates set cargo ship on fire after failed hijacking
Pirates eat into shipping earnings
"Risks for vessels are growing rapidly along Africa's East and West coast and costs could equal 60% of the value of cargo if a ship is pirated"
W.Africa pirates adapt after Nigeria crackdown
China, U.S. could tangle over Mideast oil
This article is from a week ago, but is hugely important. It's been obvious for a long time that the buildup of naval forces in the area has little to do with pirates and lots with oil. -- RF
Abbas says no talks without Israeli settlement freeze
Lindsay Graham Considers Military Action Against Pakistan
Pakistan seeks diplomatic support in row with U.S.
"Pakistani officials have been meeting with ambassadors and other foreign dignitaries seeking diplomatic support as the United States piles pressure on Islamabad to cut its alleged ties with a militant group blamed for attacks on U.S. targets."
Fragile U.S.-Pakistan Relations On Downward Spiral
'Iran, Russia, China mulling joint missile shield' (Tehran Times)

## Global unrest/mob rule/angry people ##
Two Tibetan monks set themselves on fire in China: sources
Bolivia minister quits in growing row over road protest
"Bolivian Defence Minister Cecilia Chacon has resigned in protest at the government's decision to deploy police to break up an anti-road march."
Protests and strikes rock Greece
New York City Police Pepper Spray Unarmed Protestors
Despite Arrests, Wall Street Protesters Vow To Continue
Angry students attempt to disrupt Princess Royal speech (UK)

## Energy/resources ##
Treacherous path ahead for resumption of Libyan Oil supplies: Barclays
Maharashtra faces power shortage (India)
"In major fallout of the ongoing Telangana agitation, Maharashtra is facing a power shortfall ranging between 2,000 and 2,500 MW, a development that has prompted the State electricity authorities to resort to load-shedding in both rural and urban areas."
Coal shortage hits Nalco (India)
"Aluminium giant Nalco was forced to scale down production at its Angul smelter plant due to shortage of coal."
Chile's Blackout Paralysed Key Copper Mines
Chile: Third Blackout In As Many Days
"Chile is suffering its third major electricity blackout in as many days, prompting the energy minister to call for strong new investments in the country's energy network."
Nuclear plant outages costly (US)
"Dominion Virginia Power's nuclear-plant outages over the past two years have cost the company between $45 million and $105 million. And the meters are still running."
You ain't seen nothin' yet. Just wait until decommissioning time. Or even sooner. -- RF
Downside of subsidies: 'South Korea blackout threat remains'
"A rare blackout which sparked fury in South Korea could recur anytime because successive governments have kept electricity prices artificially low to appease voters, encouraging overuse, experts say."
Eni, Total resume some oil production in Libya
Knocking on the Devil's Door: Our Deadly Nuclear Legacy - a documentary of the greatest urgency

## Got food? ##
Insight: Chasing High Corn Prices, U.S. Farmers Skip Rotations
How Change Is Going To Come In The Food System (The Nation)
The food system is going to change in a way that is apparently unanticipated by the article. -- RF

## Environment/health ##
India floods situation worsens in UP, Bihar and Orissa
Cancer cost 'crisis' warning from oncologists
"The cost of treating cancer in the developed world is spiralling and is "heading towards a crisis", an international team of researchers says."
Drought taking toll on Texas trees
Earth more acidic, USGS finds
"Extracting natural resources and the use of nitrogen fertilizers is making the air, soil and water more acidic, said a U.S. Geological Survey study."

## Intelligence/security/internet/systemic breakdown ##
Security Expert: U.S. 'Leading Force' Behind Stuxnet
Pentagon extends program to defend cyber networks
The Federal Reserve Plans To Identify "Key Bloggers" And Monitor Billions Of Conversations About The Fed On Facebook, Twitter, Forums And Blogs
NYPD chief: We could take down plane if necessary
Online activists hack official Syrian sites

## Japan ##
Fukushima Desolation Worst Since Nagasaki as Population Flees From Fallout
Japan Receives Bids for New Fighter Jets
Local assembly wants Hamaoka nuclear plant permanently shut down
Gov't to freeze research into fast-breeder reactor
"The science ministry plans to effectively freeze research related to the trouble-prone Monju prototype fast-breeder reactor in Fukui Prefecture by cutting 70 to 80 percent of its current 10 billion yen budget for the next fiscal year from April, ministry sources said Monday."
Hotels expect 50% drop / Survey predicts huge income losses for Fukushima properties

## China ##
Is China's Economy Contracting? (Gordon Chang at Forbes)
Social Unrest Will Force China to Ease Monetary Policy: Expert

## UK ##
Doubts Raised About Giant Shale Gas Find In England
London Luxury-Home Prices Gain on Haven
It's amazing what kinds of things become havens for investors. Of course, a few will make money. But considering the kind of battle zones that big cities will become, I'd urge caution. -- RF
Tesco suppliers in price warning
"Farmers have warned it would be unacceptable for suppliers to "share the pain" of Tesco's multimillion-pound price-cutting campaign."

## US ##
House Speaker John Boehner says 10,000 baby boomers retire every day
Another foreclosure wave to hit Sacramento, Calif.
Sales of New U.S. Homes Fell to Six-Month Low
Wall Street soars; Dow back above 11,000
Pump... and dump. -- RF
U.S. median income down in 35 states
SHUTDOWN THREAT CONTINUES: House And Senate Square Off Over Disaster Aid
Senate Approves Plan to Avoid Shutdown
Public Workers May Face Big Cuts From Congress
Mortgage rates drop to once unthinkable lows at less than 4%
Deflation fears are back

And finally... Hallmark launches job loss sympathy cards (video)

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