Friday, September 02, 2011

 

News Links, September 3, 2011

## Global economic meltdown ##
Sovereign Default Risk Approaches Record High in Europe Before Jobs Data
India Factory Output Growth Falls to 29-Month Low
Call It "Chopped Liver" Or QE3, It's Coming, Fund Mgrs Say
S.Korea inflation races but economy cools
China central banker warns global economic risks increasing
We Are in 'Worse Situation' Than in 2008: Roubini
Talks on Greek budget, deficit suspended
The Imminent Failure Of The Eurozone
Property values continue to decline (Australia)
Global Recession, Right Here, Right Now: Japan's Capital Spending Plummets
World Economy Hanging By a Thread

## Fault lines/flashpoints/military ##
Chinese Warship Confronts Indian Navy Vessel In The South China Sea
Turkey to Station U.S. Radar to Counter Iranian Rockets
"Turkey has agreed to station a high-powered U.S. radar on its territory as part of a missile defense system to protect NATO allies from the threat of long-range Iranian rockets.
"The deal for Turkey to host the so-called X-Band radar at one of its military bases accelerates deployment of the North Atlantic Treaty Organization-backed early warning system."
Russia Lashes Out at NATO's Turkey Radar Plan
Turkey expels Israeli ambassador
"Turkey has expelled Israel's ambassador and says it is cutting military ties with Jerusalem over last year's raid on a Gaza-bound aid flotilla that killed nine people."
EU agrees oil embargo as Syrians march against Assad
Concern rising about Iran military nuclear work
"The watchdog International Atomic Energy Agency is "increasingly concerned" about possible work in Iran to develop a nuclear payload for a missile, the IAEA said in a confidential report obtained by Reuters on Friday."
World Bank steps in to help an overwhelmed Kenya

## Global unrest/mob rule/angry people ##
Sewer smell, dust follow Irene flooding, mud
"Connecticut has been the slowest of all the states affected by Irene to restore power to customers. Police were deployed there to protect crews from angry residents, NBC's Anne Thompson reported from Ridgefield, Conn."
Analysis: Poor young South Africans lose faith in ageing leaders
"Clashes between youth members of the ruling ANC and police this week are signs that millions of unemployed young South Africans do not believe their aging leaders' promises to lift them out of poverty."
Clashes erupt in flashpoint Sudan border state
Israel's social unrest means the people are back on top (Haaretz)
Border City Becomes Center of Unrest in N.Korea
Kolar: Following Accident, Angry Mob Sets KSRTC Bus on Fire (India)
"A mob set a bus on fire and threw stones on policemen, after a KSRTC bus ran over a man riding pillion on a bike on MB Road near the new bus stand in the city on Thursday night."

## Energy/resources ##
Moscow airports face fuel shortage
"A jet fuel shortage is looming over the Moscow airports. The situation is so critical that already on September 5, the airport officials will simply have nothing to fill the planes with."
Electricity shortage next two months: EVN
"The Electricity of Vietnam Group predicts that southern Vietnam will face a power shortage by 467 million kWh in September and October."
China curbs Iran energy work
Ukraine to scrap all gas deals with Russia
Unseemly Scrabble for Libya's Post-Gaddafi Oil Assets Underway
TNK-BP, Gazprom lead Russia to record-high oil output
Mass Asian industrialisation to keep feeding into coal, iron demand
Fuel Shortage Hits Dakotas, Minnesota
"North Dakota Petroleum Marketers Association Executive Director Mike Rud says with the harvest getting underway and a huge demand for diesel, supplies are short."

## Infrastructure scavenging ##
Yards are targeted amid surge in theft
Theft leaves 900 without phone or internet for up to two weeks
Living Safe: Metal thieves especially wired for copper
"The impact of metal theft reaches beyond the thieves' profit. The cost of the damage far exceeds the value of the metal. Reports have indicated that for every dollar of stolen copper, there is $25 in damage. Further, the costs to repair infrastructure after a theft can run in the tens of thousands of dollars."

## Got food? ##
Flooded fields in ND lead to higher pasta prices
Monsanto Corn Falls to Illinois Bugs
"Monsanto Co. (MON)'s insect-killing corn is toppling over in northwestern Illinois fields, a sign that rootworms outside of Iowa may have developed resistance to the genetically modified crop, according to one scientist."

## Environment/health ##
The Year of Billion-Dollar Weather
Drought intensifies in the US South, no end in sight
INFOGRAPHIC: U.S. Hospitals Are Hazardous, Germ-Infested Places
Millions hit by heavy floods in north and eastern India

## Intelligence/security/internet/systemic breakdown ##
Second plane this week skids off runway in India
"A Turkish Airlines aircraft carrying 104 passengers skidded off the runway at Mumbai Airport on Friday, the second incident in a week to raise concerns that some Indian airports are over-stretched."
6 ways your car can spy on you

## Japan ##
Japan Business Investment Falls
Kyushu Electric halts another reactor for checkup
"Kyushu Electric Power Co. halted the No. 2 reactor at its Sendai nuclear plant in Kagoshima Prefecture early Thursday for a three-month scheduled check, meaning only 12 of Japan's 54 commercial reactors are now in operation."
Fishing haul gap widens in quake- and tsunami-ravaged areas
"Even if the fish catch increases, there aren't enough refrigeration facilities. We'll end up throwing surplus fish into the sea."
Strong yen may see 46% of makers leave
"Forty-six percent of major manufacturers would relocate their plants and research and development facilities overseas if the yen remained at the level of 76 yen to the dollar for six months or longer, according to a survey conducted by the Economy, Trade and Industry Ministry."
China sea power concerns new Japan foreign minister
Japanese Firms Cut Spending Amid Economic Woes

## China ##
China's Low-Wage Export Engine Starts to Sputter

## UK ##
UK construction growth weakens in August
Increase in unemployed graduates, survey suggests
"Almost 28% of UK graduates who left university in 2007 were still not in full-time work three and a half years later, figures have suggested."
Record levels of workless households
"The number of British households in which no one has ever worked has nearly doubled over the past 15 years and now reached record levels, official figures have revealed."
Britain Must Escape Its Longest Depression

## US ##
Deja Vu All Over Again: Total US Debt Passes Debt Ceiling... In Under One Month Since Extension
Central Falls Set to File Bankruptcy Exit Plan; 50% Pension Reductions, 40% Slash in Police and Fire Budgets Coming Up
Hurricane Irene leaves behind a bill for taxpayers
"Even if you don't live on the storm-ravaged East Coast, Hurricane Irene is going to cost you."
Drought puts cattle ranchers at a crossroads
Mayor declares emergency in New Orleans
In Jobless Data, Devil May Be In Details
"It's not because we're necessarily finding jobs for the unemployed, it is because people are dropping out of the labor force and no longer looking."
Labor market woes sink Wall Street
Black unemployment: Highest in 27 years
Bank Of America Could Slash Up To 30,000 Jobs
Banks Swamped by Loan Refinancing Surge
Quake risk to reactors greater than thought
"The risk that an earthquake would cause a severe accident at a U.S. nuclear plant is greater than previously thought, 24 times as high in one case, according to an AP analysis of preliminary government data. The nation's nuclear regulator believes a quarter of America's reactors may need modifications to make them safer."
More Florida poor going to food banks
120 school districts in US adopt 4-day school week
FEMA'S use of term 'federal family' for government expands under Obama
How Las Vegas gambled and lost
Grandpa still works, kids can't find jobs (CNN Money video)
Debt after death: Banks chase down mourners
Weather Costs U.S. Economy $485 Billion a Year! And That Doesn't Include Hurricanes
Drop in Shipping Could Mean Weak Holiday Season for Retail
U.S. Car Sales in August Mean Nothing




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