Thursday, September 29, 2011


News Links, September 30, 2011

## Global economic meltdown ##
Greece faces auditor verdict, fresh protests
Italian Bank Execs Worry About Contagion From A Greek Default
Italy pays record high rates at debt sale
Germany backs revamped euro bailout fund
Growing Isolation in Germany as Merkel's Allies Abandon Her; Polls Show 75% of Germans Oppose More Bailouts; Clock Ran Out of Time
Greece Extends Short-Sale Ban to December
World Slump Seen Triggered by European Breakdown in Global Poll
Analysis: Stagnant U.S. jobs market bodes ill for world economy
Weak Emerging Market Currencies Are Symptoms Of Bigger Problems
Nokia Plans to Cut 3,500 Jobs
Recovery next year for world stocks: poll
"Still, despite the dire performance of stock markets so far this year, most respondents were stuck in their usual habit of predicting big gains, no matter what real risks face the world economy."
Exclusive: Justice Department probing Chinese accounting

## Fault lines/flashpoints/military ##
Pakistan rebuffs US demands to increase cooperation in war on terror
Yemen truce broken by heavy shelling in Sana'a
Poppy crop will decline only slightly due to coalition
Egyptian police raid Al Jazeera unit again
U.S. Opposes Loans to Argentina to Force Debt Accord, Payments
Pirates attack Japan chemical tanker in Red Sea
Truce Between Iran And Kurdish Rebels Holds

## Global unrest/mob rule/angry people ##
Insight: Velvet glove trumps iron fist in south China land riot
Bolivia highway protests spread, paralysing La Paz
Syrian crowd stones U.S. envoy's convoy
Wall Street protesters target NY cops next

## Energy/resources ##
Shell Shuts Singapore Refinery; Fire Finally Out
The Broken Dreams of Nuclear Electricity
Russia Claims New Arctic Hydrocarbon Finds Effectively Double Nations Reserves
"Whether of not the Russians have either the expertise or the necessary cash to exploit the region's reserves is another matter, as Arctic oil and natural gas exploration is more technically and physically challenging than for any other environment."
Technological advances revive Kansas oil fields
This oil won't be selling for $10/bbl. -- RF
Saudi Arabia oil assets 'immune' to terror risk
Gulf Arab OPEC may tolerate oil below $90
Indian coal shortage to worsen following industrial action
The Coming Decline and Fall of Big Coal
"The coal industry as we know it today is a dead man walking. All the high-quality, easy-to-get coal is gone, and what's left is increasingly expensive and difficult to mine."
Is Yergin Correct about Oil Supply? An opinion the WSJ did not run
Shale Gas—It Ain't Everything They Said It Would Be
Gas supply shortage hits power generation (Bangladesh)
UPDATE 2-Chinese regions face severe winter power shortage-NEA

## Infrastructure scavenging ##
Police Searching for Copper Thieves Who Triggered Blackout

## Got food? ##
China expecting bumper grain harvest
China's Corn Shortage and a Lack of Solutions
Basic Needs Of A Honey Bee Colony...A Start

## Environment/health ##
Could Roads Lead To Antibacterial Resistance?
Grim Predictions Say 9 More Years Of Texas Drought Possible

## Intelligence/security/internet/systemic breakdown ##
Data centers: Google expands to Asia
Model Plane Enthusiast Netted in Manufactured 'Terror' Plot
Power outage at Mexico City airport disrupts hundreds of flights

## Japan ##
Quake jolts Fukushima, no problem reported at nuclear plant
Tokyo plans to store, burn debris from disaster zone
Eight-prefecture plan for radioactive dumps
High cesium levels detected as far away as Gunma Prefecture
Fukushima nuclear plant moves closer to 'cold shutdown'
Fukushima's Population Exodus Continues
Medical Spending Hit Record Y36tln In FY09
TEPCO may get interest payment waiver
Japan's core consumer prices up 0.2pc in August year-on-year
More to come: This fall Japanese consumers face increases in natural gas, electricity, and wheat prices, which are anticipated to further pressure household finances. -- RF
Japanese wholesale rice prices up 10%-20% on year

## China ##
China's runaway bosses spotlight underground loan market
"A string of Chinese entrepreneurs have gone into hiding to avoid repaying loans, according to state media reports, highlighting a credit squeeze on private firms and the dangers of steep interest rates in China's vast and growing informal lending market."
Special Report: "Rats" and "black mouths" gnaw at China stocks
China Just Keeps Diving
For Foreign Makers, China's Low-Cost Image Fades
"Rapidly rising wages in China have reached the point at which foreign manufacturers need to give up on the notion of the country as a low-cost production base, a senior Hyundai Motor Co. executive said Thursday."
A China Squeeze Is On The Horizon

## UK ##
Records smashed in heatwave

## US ##
Poverty affects 46 million Americans
Ala. police to enforce America's 'strongest' immigration law
"Beginning Thursday, authorities can question people suspected of being in the country illegally and hold them without bond, and officials can check the immigration status of students in public schools."
Seriously Delinquent Mortgages Rise After Five Quarters Of Improvement
Nine American Cities Going Broke
Consumers Won't Save the Economy: Economists
"Consumer spending, once the driving force of the U.S. economy, is likely to remain stagnant for years as households struggle to cut debt and build up savings, economists say.
"According to a recent study from the BlackRock Investment Institute, the ratio of household debt to personal income (wages and salaries only) remains at a staggering 154 percent, which is only 7.5 percentage points lower than in pre-recession peak."
U.S. Consumer Confidence Slumps on Concern Financial Conditions Worsening
US Economic Outlook Dismal
Debt collection is the new growth industry
Texas Power Outages Lead To Row Between Valero, PNM

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