Wednesday, September 28, 2011


News Links, September 29, 2011

## Global economic meltdown ##
Global Economic Recovery Is Unlikely in Near Future, Bahk Says
Rally Runs Out of Steam as Growth Worries Return
Euro Crisis Makes Fed Lender of Only Resort
"The Federal Reserve, chastised by Congress for lending money to foreign institutions such as the Central Bank of Libya, is once again the lender of last resort for banks around the world it knows little about."
Merkel Prepares Market for Bigger Haircuts; Split opens Over Greek Bail-Out Terms; Needs vs. Fantasies
Finland lines up behind bailout
The Economy is On the Ropes and Going Down (Chris Martenson)
William Hague: Euro is a burning building
"UK Foreign Secretary William Hague has said the euro is "a burning building with no exits" for some of the countries which adopted the currency."
Step Aside BBC "Trader": Head Of UniCredit Securities Predicts Imminent End Of The Eurozone And A Global Financial Apocalypse
Beware of China's Pan Asia Gold Exchange
France Deepens Cuts to Tackle Deficit
French public debt to hit 87% of GDP in 2012: report
Greece Runs Out Of Ink, Can't Print Tax Forms
Greek official: Ability to pay more taxes 'exhausted;' strikes continue
Quake Still Rattles Suppliers
France, Italy and Spain Extend Short-Selling Bans
Must-see video: Government and the Power to Issue Fiat Currency Out of Thin Air
Well worth your 3 minutes and 47 seconds. -- RF
Australia, New Zealand Dollars Slide Amid Debt Crisis Containment Concerns
World's Biggest Rate Cut Forecast on Global Slump: Brazil Credit
Add The Ukraine To List Of Countries On Verge Of Technical Default
Gulf economic growth set to slow sharply in 2012

## Fault lines/flashpoints/military ##
Indonesian Pirate Arrest Leads to Broader Network in Malacca Strait
"In the first half of this year, the International Maritime Bureau recorded more than 50 incidents of piracy across Indonesia, Malaysia, Singapore and the South China Sea."
China Warns Asia Not to Hide Behind U.S. Military
"Asian countries should be on guard against the 'danger' of feeling they can 'do whatever they want' because of the U.S. military presence in the region, the Chinese Communist Party's People's Daily said in a commentary."
Analysis: Pakistan's double-game: treachery or strategy?
Breaking: Nobody Knows What to Do About Pakistan (Danger Room)
Afghan conflict: UN says 39% jump in violence in 2011
Mexican Cartel Snuffs Social Media Star as Violence Nears 'Civil War' Proportions
Mexican police find 5 severed heads
Iran sends cruise missiles to its navy
South Korea to build naval base near disputed island

## Global unrest/mob rule/angry people ##
Greek Strikes Maintain Momentum
Car bomb kills eight in Russia's Dagestan
Fresh Unrest Hits Kosovo as Talks Canceled
Scores arrested in Bulgarian Roma protests
"The unrest, provoked by the death of a young man which some have linked to a Roma clan leader, has drawn attention to the tensions in the European Union's poorest country as it struggles to emerge from deep recession."
Fresh protests in Bolivia road row

## Energy/resources ##
Drilling Down: Tainter and Patzek Tell the Energy-Complexity Story
NYPA Pulls Plug On Great Lakes Offshore Wind Project
"The state-owned New York Power Authority (NYPA) said on Tuesday it had ended the proposed Great Lakes Offshore Wind Project due to high costs and the weak economy."
Germany's June Solar-Panel Installations Fall 69% From Year Earlier
REC May Permanently Shut Some Norway Production on Price Slump
"Renewable Energy Corp. ASA will seek to permanently close of parts of its solar energy-component production capacity in Norway after a slump in prices for solar wafers and cells."
Nord Stream expected online soon
Blackout leaves Cape Town powerless
What good is an electric vehicle if there's no electricity?
"A Glut Of EVs Could Make America's Shoddy Power Grid Even Worse"
China expands energy ties in Central Asia
Switzerland to shutter all nuke plants

## Infrastructure scavenging ##
Scrap metal theft increases as UK struggles with recession
Metal theft: Britain's most annoying crime wave (BBC feature article)
Police: Air-conditioning units stolen for metal (US)

## Got food? ##
Global food prices to remain high: HSBC
Faltering food security (Pakistan)
India's farmland size falls drastically, CII calls for model Leasing Act
WI: No Right to Produce or Eat Food
"In scary legal news a Wisconsin judge had gone completely loopy declaring that citizens have no right to produce or eat the foods of their own choice."
When supermarket shelves are empty and the judge decides to garden, I hope someone reminds him of his own statement. -- RF
Experts fear listeria may be moving into produce

## Environment/health ##
BP oil spill affects more than people
"A study highlighting developmental abnormalities in fish in the Gulf of Mexico indicates oil contamination isn't just a human problem, an advocate warns."
Penicillin shortage spurs supply probe in Australia
"THERE is only one week's supply of a commonly used penicillin left in Australia and the sole supplier of the drug is investigating whether it can air-freight an alternative supply into the country."
Expanding Deserts, Falling Water Tables, and Toxic Pollutants Driving People from Their Homes
Hungary villages heal slowly from red sludge spill
Immigration and poison use in cities
"Immigrants in New York City are using a toxic chemical in a concentration almost 61 times higher than federal regulations allow to get rid of rats. The product is highly dangerous to humans, and poses a threat in such a densely populated urban center."

## Intelligence/security/internet/systemic breakdown ##
Blackout's sewage spills 75 percent greater than reported (US)
This is just a preview of the general systemic collapse that will ensue as power outages become more widespread. Ever wonder what it was like to live in the 18th century? -- RF
Majority of govt websites restored following four-day outage (New Zealand)

## Japan ##
Japan Government Announces $156 billion Spending Plan
Japan May Scrap Plan to Build New Finance Ministry Headquarters
Tokyo Electric will prioritise using less-costly coal
Panel eyes 7,400 job cuts at TEPCO
Radioactive soil could fill 23 Tokyo Domes
Kepco needs ¥130 billion for thermal
"Kansai Electric Power Co. aims to borrow ¥130 billion to pay the higher costs of thermal power generation, which has increased with the idling of more than half its nuclear reactors, sources said."
Peak power needs down 29% this year
Govt eyes sea security forum / Plan to be proposed at East Asia Summit as warning to China
Tokyo may require firms to stock emergency goods
"The Tokyo metropolitan government is considering the establishment of an ordinance that would instruct local companies to store food and other emergency goods in preparation for disasters that keep people from returning to their homes."
Japanese Aug retail sales decline 2.6% vs year ago

## China ##
Chinese Banks Raise Cash to Cushion Against Bad Debts
Hong Kong Stocks Head for Biggest Monthly Drop in Three Years
Citic, Great Wall show China IPO struggle
Wen urges more efforts to conserve energy
"Speaking during a teleconference, Wen said local governments should be aware of the 'extreme significance and urgency' of the task as the current situation is 'rather severe.'"
Beijing Considers Allowing Some Local Bonds
"China is moving toward a trial program allowing some local governments to issue bonds directly, said a person briefed on the effort, as Beijing considers restructuring a system that has contributed to worries about the threat that local-government debt poses for the nation's economy."
Brilliant! Local governments in China are already up to their eyeballs in debt via the "local government financing vehicles." Now the government is figuring out a different way to lard on more debt. -- RF
Here Comes The "China Hard Landing" - Full Bank Of America Presentation Slides

## UK ##
Shropshire street lights could be switched off
Haverhill street lights to be switched off next month

## US ##
Lowering the bar: As Federal Crime List Grows, Threshold of Guilt Declines
New York's roads, bridges need expansive, expensive work
Crumbling infrastructure ranks U.S. behind Barbados
EPA: N.J. needs $8B fix to antiquated sewer systems
Suburbia: Where the poor are
"15.4 million Americans living in poverty are in the suburbs, far outnumbering impoverished city dwellers."
Chicago brainstorms ways to cover massive budget deficit
Latino child poverty sets a record, report shows
Durable goods orders dropped slightly in August
Harrisburg Heads for Receivership in New Pennsylvania Bill; Crisis Will Linger Because State Legislature is Clueless
9 hard-to-fill jobs
Skills are disappearing all over the place. -- RF
Bernanke calls unemployment a 'national crisis'

And finally... Al-Qaeda warns Ahmadinejad to stop denying 9/11

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