Tuesday, September 27, 2011


News Links, September 28, 2011

## Global economic meltdown ##
Euro zone struggles to stem crisis; Obama urges action
"But Germany's central banker Jens Weidmann poured scorn on a beefed-up bailout fund. Leveraging the assets could discourage politicians from taking the tough political decisions to cut budget deficits and would weaken faith in the euro, Weidmann said in Washington."
Germany slams 'stupid' US plans to boost EU rescue fund
"Germany and America were on a collision course on Tuesday night over the handling of Europe's debt crisis after Berlin savaged plans to boost the EU rescue fund as a 'stupid idea' and told the White House to sort out its own mess before giving gratuitous advice to others."
Options open on ECB rate cut, October talk "wild"
Analyst: $1 Trillion In Hidden Losses At German Banks
Japan may consider being part of Greece bailout plan
Russia To Help Bailout Europe
In Europe, five bailout votes this week
FT Report That Greek Bailout Package On The Verge Of Collapse After Surge In Greek Funding Needs Sends Stocks, Euro Plunging From Highs
Qatar risks glut of shopping malls, says Darwish VP

## Fault lines/flashpoints/military ##
Israel approves 1,100 more settlement homes
Iran says could deploy navy near U.S. coast: report
"Iran raised the prospect on Tuesday of sending military ships close to the United States' Atlantic coast, in what would be a major escalation of tensions between the long-standing adversaries."
Pakistan pushes back against U.S. charges, woos China
"Pakistan warned the United States on Tuesday to stop accusing it of playing a double game with Islamist militants and heaped praise on 'all-weather friend' China."
Eastern Alliance: Pakistan lobbying for defence pact with China
New attack on Egypt gas pipeline to Israel and Jordan
Bellicose talk as Turkey debuts a warship
Noda, Aquino agree to boost maritime security
"Japan and the Philippines agreed to boost sea security Tuesday amid China's growing assertiveness over territorial claims and resources in the region's waters."
At Least 54 Killed in Attacks Across Afghanistan

## Global unrest/mob rule/angry people ##
Yemen defense minister survives attack, protests continue
'Occupy Wall Street' protest slowly spreads across the United States
John Kampfner: Arab Spring is a wake up call for European dictatorships
Sudan police disperse latest food demo: witnesses
Postal workers protest layoffs, closures in Md., across U.S.
Teachers strike in France to protest against Sarkozy's cuts to education jobs

## Energy/resources ##
Low Cost U.S. Natural Gas Production Put at Risk
Shell: Nigerian oil theft 'unprecedented'
Petrol theft crippling Hunter service stations (Australia)
Gas supply shortage short-circuits power output (India)

## Infrastructure scavenging ##
Power firms to curb vandalism, theft (Oman)
Cable theft 'costing Gautrain millions' (South Africa)

## Got food? ##
FAO says food inflation hits 7.4% in L. America and Caribbean

## Environment/health ##
Huge floods in Manila as typhoon hits Philippines
Cantaloupe outbreak could be deadliest in a decade
Fearing New Gulf of Mexico Oil Leak: Sheen Warning For Transocean

## Intelligence/security/internet/systemic breakdown ##
A year of Stuxnet: Why is the new cyberweapon's warning being ignored?

## Japan ##
Japan Auto Demand to Fall on Earthquake Woes
Fukushima City announces 2-year decontamination plan
Tepco redress estimated to top ¥4 trillion
Govt N-liability fund may take over TEPCO
Fishermen's livelihoods still drowning in Fukushima

## China ##
Cash Crunch in China Picks Up Momentum; Chinese Economy "Teetering On the Edge"
Dim Sum Market an Unlikely Victim of Global Volatility
Severe Strain for Chinese Property Developers if Sales Fall 30%: S&P

## UK ##
Boost UK defence spending or lose the Falklands, warn military grandees
British army will never again be among military superpowers, report claims
'Dark day' as BAE axes 3000 jobs
UK accused of ignoring crisis in the Arctic
"Valuable oil and mineral extraction, new shipping routes, new fishing grounds, border disputes, the rights of native peoples and environmental dangers are all on the horizon in the region surrounding the North Pole."
Hundreds of litres of fuel stolen from trucks in Surrey

## US ##
Thousands Line Up In Philadelphia For Food Stamps
A profile of food stamp recipients: Grim
Is It Virtually Impossible To Land A Job As "Jobs Hard To Get" Responses Hit 28 Year High
Border bill would expand Homeland Security powers
US Has More Serious Problems Than Europe: Jim Rogers
"According to Rogers, the U.S. has deeper structural problems than Europe as well as higher debt levels."
Time's Up Meredith Whitney, Muni Prediction Was Wrong (CNBC)
This is an absurd claim. Since growth is dead, ultimately munis must crash and burn. Whitney should stick by her guns. -- RF
Roubini: U.S. in Throes of Economic Contraction
See? Growth is dead. -- RF
Goldman Sachs Draws Up Deeper Cuts
"This summer, Goldman said that it would wring out $1.2 billion in costs from its operations by mid-2012 and cut roughly 1,000 jobs, about 3 percent of its work force. But as the market turmoil has weighed on trading and other businesses in recent weeks, senior executives have been debating even deeper reductions, according to people briefed on the matter who were not authorized to speak publicly."
Will Debt Collectors Burn Up Your Cell Phone Minutes?
"Hundreds of thousands of borrowers who are behind on their federal student loans may be the target of some unwanted -- and expensive -- attention: A provision in President Obama's deficit reduction plan would allow debt collectors to call the cell phones of people who are late on government loans or on loans with federal guarantees. Currently, collectors can only call home phones."
Financially-strapped cities cut jobs, services
Local food pantries are in crisis
More than 200 drugs in critical short supply

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