Thursday, October 13, 2011


News Links, October 14, 2011

## Global economic meltdown ##
EU Bank Risks 'Rapidly' Growing, Andersson Says
"Risks to Europe's bank industry are 'rapidly' mounting as the fallout of Greece's debt crisis engulfs the whole region, said Martin Andersson, director- general of Sweden's Financial Supervisory Authority.
"'We don't see any positive signs,' Andersson said yesterday in an interview in Stockholm."
Barroso's eurozone crisis plan could stop bank dividends
"Europe's biggest banks would be barred from paying out dividends and bonuses if they are forced to raise their capital reserves to withstand future shocks, under plans put forward by the European commission to resolve the debt crisis."
Foreigners Dump $74 Billion In Treasurys In 6 Consecutive Weeks: Biggest Sequential Outflow In History
Capital Shortfall Estimates of European Banks Range from 8 to 413 Billion Euros; EU to Offer Additional Extend-and-Pretend Time (Mish)
Slovakian Parties Agree to Back Euro Fund
Deutsche to do everything to avoid forced recapitalization: CEO
European banks may need to raise 200bn euros
The IMF Just Cut Its Growth Forecast For Asia Blaming Europe And The US
German Inflation Rises More Than Estimated
Ship Lines Delay Asia-U.S. Rates Plan on Unpredictable Cargo
Short of drivers, 15% of Indian trucks lie idle
Fitch Places Seven Big Banks On Ratings Watch
Bank Layoffs Exceed 100,000: Where the Cuts Are
Dubai gold buyers switching from jewelry to bullion
Global Money Supply And Currency Debasement Driving Gold Higher
Emerging markets brace for global slowdown

## Fault lines/flashpoints/military ##
Bahrain opposition unites to decry "police state"
"In a defiant show of unity, Bahrain opposition parties have jointly denounced the Sunni-ruled Gulf Arab island as a police state and demanded a transition to a constitutional monarchy."
Maruti Workers' Strike Declared Illegal (India)
Thailand floods disrupt production and supply chains
Bomb blasts in Iraq's Sadr City kill 16
U.S. names Greek "Fire Cells" group to terror list
Kazakhstan curbs religious freedom to halt militancy
"Kazakh President Nursultan Nazarbayev signed a tough religion law Thursday including a ban on prayer rooms in state buildings, aimed at stamping out Islamist militancy but criticized by Kazakhstan's top Muslim cleric and the West."
U.S. aims to "unite the world" against Iran
That much is true. -- RF
Gulf States Call Arab League Meeting On 'Dire' Situation In Syria

## Global unrest/mob rule/angry people ##
Greek protesters walk off the job, block property tax
New strikes bring Athens to a halt
Greek unions extend general strike to 48 hours
Protesters to 'Occupy' London Stock Exchange
Turkish students hurl eggs at IMF speaker (BBC video)
Showdown looms at New York 'occupy' protests
Wall Street Protesters Can't Return Gear to Park, Commisioner Kelly Says
Protesters arrested during Panetta's testimony (video)
Chicago protesters stage "die-in" at bank
Indians want nuclear plant closed over safety fears
"Angry villagers living near a recently built nuclear power plant in southern India blocked a highway Thursday to demand its closure, saying they don't believe government assurances that the facility is safe."

## Energy/resources ##
Analysis - Saudi oil exports under threat from within
"The world may have to live on a lot less Saudi Arabian crude towards the end of this decade as rampant internal demand eats into oil exports and the kingdom's alternative energy plans may prove too little too late."
High demand for oil sparks diesel fuel shortage, long lines at West Fargo terminal (US)
"WEST FARGO – Fuel tanker trucks were lined up more than a mile east of the Magellan Pipeline Co. terminal today, as the needs of harvest, oil exploration and construction are creating a shortage of diesel fuel in the region."
Norway raises drill costs alarm
"The head of Norway's oil agency has sounded the alarm over high drilling costs on the country's continental shelf that are putting a serious restraint on its ability to tap new reserves to reverse a production decline."
Venezuela Receives Russian Armaments Loan for Increased Energy Access
"The Russian Federation has agreed to provide Venezuela with a two year $4 billion loan for armaments purchases in return for increased access to developing Venezuela's heavy crude and offshore natural gas fields."
Rio Tinto Defies Global Gloom With Record Iron Ore Sales
Geologists warning over metals shortage
"Geologists have sounded the warning bells over shortage of some metals owing to an insatiable demand for consumer goods."
Afghanistan - Newly Discovered Mineralogical Treasure House (Again)
A good article for pointing out all the obstacles that keep Afghanistan's mineral resources from being exploited. The same goes for Iraq's oil. -- RF
Are we on the Brink of an Energy Revolution? Andrea Rossi to Build 1MW Power Plant
Cold fusion redux. Don't hold your breath. -- RF
China's oil demand set to lead world again in 2012
Fuel, cooking gas shortage hits western Kenya

## Got food? ##
Water-Starved Texas Rice Eroding U.S. Harvest
Car parts made from food (CNN Money video)

## Environment/health ##
Gulf shrimp are scarce this season, as are answers
Hospitals' penicillin crisis (Australia)

## Intelligence/security/internet/systemic breakdown ##
BlackBerry Service Restored, Company Says
"The outage started with a failure in RIM's European data center, and cascaded across the world. Mr. Lazaridis said the outage was the largest in its history and likely caused by a hardware problem."
FBI Monitoring News Talk Radio for Investigations
Air-Traffic Errors Near Airports More Than Double in 3 Years
Iranian murder plot met with skepticism in Middle East
Why Not Space?
A sobering study on the dream of space exploration. -- RF

## Japan ##
Tokyo Radiation Hotspot Linked To Old Bottles
Gov't likely to face strong opposition to raising retirement age: survey
Pensionable age to rise more quickly / 2 of ministry's 3 plans put off benefits to 68
Budget-cutting panel to eye funding for nuclear plants
Flooding in Thailand crippling Japanese manufacturers
Occupy Tokyo? Hmm, Maybe…
BOJ: Tohoku economy back to pre-quake levels except in worst-hit areas
This region was already economically depressed, so getting back to the pre-quake level isn't the recovery it's made out to be. -- RF
IMF Urges Japan to Do More to Cut Debt
Japan firms PIIGS exposure hits $37.3B: Nikkei

## China ##
Great Wall crumbling, illegal mining cited
China Exports Slow on 'Severe Challenges'
Heavy snow shuts down highways in NW China
China to invest £400bn to overcome water shortage
"China is to invest up to nearly £400bn over the next decade to overcome a huge water shortage that threatens the country's economic growth following years of below-average rainfall and plummeting water-tables in urban areas."
China regulator looks to tighten grip on microblogs

## UK ##
Riot curfews for public proposed by Home Office
"The police will be given a public order power allowing them to clear the streets and tell the public to leave an area during a riot or other disorder, under proposals for curfews outlined by the Home Office."
The human cost of rising rents
Private rents unaffordable for families in most English boroughs
"The Shelter Rent Watch found that average private rents were unaffordable for ordinary working families in 55% of local authorities in England. Typical rents charged by private landlords were more than a third of median take-home pay, the widely accepted measure of affordability."
Scots parents skip meals to feed families
"SCOTLAND'S poorest people are facing food shortages similar to Second World War rationing due to soaring prices, a charity has claimed."

## US ##
Gas Drilling Boom Brings New Life To Steel Industry
U.S. Banks Can't Hide From Europe's Debt Crisis
GOLDMAN: Credit Spreads Are Implying A Recession, And MASSIVE Monthly Job Losses
US Mortgage Default Notices Spike in Third Quarter
Strategic Mortgage Delinquencies as High as 27%
Sharp rise in foreclosures as banks move in
Soaring Suburban Poverty Catches Communities Unprepared
Growing Income Gap May Leave U.S. Vulnerable
Cities Cut Streetlights, Playgrounds, Police in Tough Times
Drug shortages impacting East Tennessee hospitals
Repo man seizes city streetlights
"A Michigan city couldn't pay $4 million in past-due bills, so the power company took out most of the streetlight poles to settle the debt."
How will Vt pay for road repairs after Irene?
"Five bridges in Vermont remain impassible after the storm, 45 days after the storm 2,260 road segments are damaged, 425 are partially damaged, 175 are closed and 33 road segments are emergency access only, 289 state bridges were damaged by Irene, 65 were partially damaged, 90 are closed and six are only open to emergency vehicles."
Report: Pentagon doesn't know where the money is going
So Many US Manufacturing Jobs, So Few Skilled Workers
Gap to close 34% of namesake U.S. stores by end of 2013
Dollar Printing Uses 9.7 Tons Of Ink Per Day, And Other Fast Facts About The US Dollar

And finally... Vote: What's Iran's Next Insane Terror Plot? (Danger Room)
Everybody's having fun with the US government's cockamamie terror plot story. -- RF

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