Thursday, September 08, 2011


News Links, September 9, 2011

## Global economic meltdown ##
Europe Out of Time; Differences Impossible to Untangle; Merkel's Mind is Fried; Eurozone Breakup Inevitable; "Let the Euro Die"
World policymakers see darkening outlook
"From Seoul to Washington, policymakers are increasingly worried about the outlook for the global economy."
Central banks have a few stimulus bullets left
OECD warns that global economy is slowing
'Desperate' Haven Rush to Boost Norway Krone
Situation in Greece 'Serious': German Finance Minister
Greek Credit Swaps Surge; 91% Chance of Default
Greek Default Would Cause' Monstrous' Run on Banks, Mundell Says
Fitch warns of downgrades for China, Japan
German Exports Unexpectedly Fell in July
Australia Unemployment Rises Unexpectedly
Spanish Industrial Output Declines 2.8%
Food-Price Gains Driven by Chinese Consumers Defy Easing Global Inflation
Saab bankruptcy plan rejected. Now what?
"Saab bankruptcy rejected by Swedish court, saying its financial plan for solvency unclear. Automaker's unions may file bankruptcy petition for Saab."
Who Runs the World ? – Network Analysis Reveals 'Super Entity' of Global Corporate Control
Six months after New Zealand quake, Christchurch's ability to rebuild in doubt
"More than 4,000 aftershocks have hit Christchurch since one of New Zealand's worst earthquakes, hindering recovery and causing many locals to consider leaving for good."

## Fault lines/flashpoints/military ##
Japan says Russian military conducting drills near its airspace
Philippines allocates more funds to boost Spratlys defence
Philippines to set up radar stations in South China Sea
South China Sea, India And China's Assertiveness
Vietnam, China to try to hasten talks on sea dispute
Turkish warships will escort aid vessels to Gaza: Erdogan
"Turkey said on Thursday it would escort aid ships to Gaza and would not allow a repetition of last year's Israeli raid that killed nine Turks, setting the stage for a potential naval confrontation with its former ally."
Analysis: Israel faces perfect storm in shifting region
As war looms large, Israel is sticking its head in the sand (Haaretz)
"No Israeli campaign ever ends with the enemy's surrender, which is one of the reasons why we are eternally at war."
Hundreds of missiles go missing from regime's abandoned arms dumps
Arms smuggling explodes across Egypt-Libya border
U.S. Army Chief Warns Against Large Force in Iraq
"The new U.S. Army chief warned against leaving too large a force in Iraq after a year-end deadline, saying on Sept. 8 that it could feed the perception of an American 'occupation.'"
Saudi Arabia's morgues overflowing
China, Bulgaria Seek to Strengthen Ties

## Global unrest/mob rule/angry people ##
Swazi government keeps distance as democracy demonstrations swell
Union protesters clash with police in Wash.
Longshoremen storm Wash. state port, overpower guards, dump grain
Protests rock Colombia oil area, firm halts output
"Protesters battled riot police with rocks and homemade bombs on Thursday in a protest against Colombia's fourth largest oil producer Petrominerales Ltd, forcing the Canadian firm to suspend output."
Arab Spring has cost Gulf Arab states $150bn
Strikes continue at Peru copper, iron-ore mines
BART protesters plan to block Powell gates today
Bahrain job purges linger as protest flashpoint
Video shows protesters interrupt first super committee meeting
Supercomputer predicts civil unrest

## Energy/resources ##
Libya oil exports not to return to normal until 2013
European Union to Stockpile Rare Earth Elements
Nord Stream pipeline gives Russia edge in European gas wars
GCC set to become world's highest electricity consumers
Peak Oil, Peak Debt, and the Concentration of Power

## Got food? ##
Europe maize in good shape, confusion on US corn forecast
'Fertiliser shortage may result in loss of billions of rupees' (Pakistan)
World food prices seen high in August on grain rally
Corn Crop Shrinking as Hottest Summer Since '55 Spurs Record Harvest Price
"We won't run out of corn. People just won't get as much at the prices they want to pay. There is supply rationing already happening."
East Africa, Arab world face food crisis
"The Arab world, buffeted by political upheaval triggered in January in large part by rising food prices, is facing a new round of food shortages."
Qatar moves to reach food sustainability

## Environment/health ##
Ontario struggling with 18,500 fewer hospital beds
Hospitals experience drug shortages (US)
Antibiotics May Be Permanently Altering the Guts of Humanity
About 100,000 told to flee Northeast flooding
A Health Mystery in Texas
"Texas may be garnering the most media attention for its rampant wildfires and Oval Office-aspiring governor, but the state is also home to a health mystery surrounding high breast cancer rates in six counties with the most natural gas drilling."

## Intelligence/security/internet/systemic breakdown ##
U.S. defense firms face relentless cyberattacks
Google Details Electricity Usage of Its Data Centers
New Homeland Security Report Sees "Evolutionary Shift" in Terror Threat

## Japan ##
Azumi Says He Will Tell G-7 Japan Ready to Take 'Bold' Action on Currency
Foreign minister expresses reservations over rumored electricity price hike
Japan's current account surplus down 42.4%
"Japan's current account surplus shrank 42.4% from a year earlier in July, government data showed Thursday, the fifth consecutive decline in the wake of the March 11 earthquake and tsunami."
Japan revises April-June GDP lower to 0.5% drop
BOJ to maintain 'zero' rate, sees second-half recovery
Core machinery orders down 8.2% in July, 1st drop in 3 months
Foreign Net Selling Of Japan Shares Topped Y1tln In August
TEPCO submits heavily redacted copy of Fukushima nuke accident manual
Nuclear experts: Radiation-contaminated areas in Fukushima disaster only one-tenth of Chernobyl's
Sea radiation leaks reach 15,000 terabecquerels off Fukushima plant
Excessive cesium levels again found in Iwate cows
Give SDF more freedom on guns use abroad: Maehara
"Seiji Maehara, the Democratic Party of Japan's new policy chief, said Wednesday that the stringent restrictions on the use of weapons by the Self-Defense Forces should be eased and that Japan's ban on arms exports should be reviewed."

## China ##
Yuan Will Be Fully Convertible by 2015, Chinese Officials Tell EU Chamber
Now This Is Happening: A Bank Funding Crisis in China? (WSJ)
Ahead Of Tomorrow's Figures, A Deep Dive Into Chinese Inflation Data
Chinese economist: Beijing must reduce dependence on greenback

## UK ##
London property bubble 'about to burst'
Slumming it: Housing crisis deepens, planning laws attacked
London to 'develop as Chinese yuan trading hub'
Children in care 'at record levels'
Bank of England maintains low lending rate

## US ##
Megabanks growing even more dominant
Bernanke, a Complete Dunce, "Puzzled by Weak Consumer Spending"
Weather disasters keep costing U.S. billions this year
Storm Lee Remnants Bring Torrental Rains, Floods to Already Wet U.S. East
NASA Needs to Keep More Astronauts
"NASA's astronaut corps peaked at 149 in 2000. It's now down to 60. NASA projects it will need a minimum of 55 to 60 astronauts over the next five years."
Space development: One more failed dream of industrial civilization. -- RF
College Tuition Hikes Fail To Stop Cutbacks On Campus
Jobless claims rise in sign of tough job market
When money ran short, this dad started Dumpster diving
Delta to lay off 200 office staff
Consumer borrowing up for 10th straight month
Underfunded Pensions Pressured to Make Riskier Bets
Obama Proposes Cutting Payroll Taxes in Half
U.S. Mortgage Rates Fall to Lowest on Record
Many in U.S. slip from middle class, study finds
Former Fed Official Poole Sees Risk Of "Astonishing Rise" In Inflation

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