Friday, October 14, 2011


News Links, October 15, 2011

## Global economic meltdown ##
S&P downgrades Spain by one notch on weak growth
Fitch Cuts UBS Rating; Seven More Banks Under review
Greek government vows to pass cuts in "fight for existence"
"Finance Minister Evangelos Venizelos pledged on Friday to pass sweeping austerity measures in parliament next week, declaring that Greece was in a 'fight for our existence' and defying union opposition and rebels in the ruling Socialist party's own ranks."
G-20 Focuses on Crisis as Europe Mulls Greek Writedown
UBS Kills Latest European Bailout Proposal: "Why A 50% Haircut On Greek Debt Will Not Work"
French Government Bond Yields Widen to Record vs. Germany; Portugal Faces National Emergency; Trichet Says "ECB Will Not Be Lender of Last Resort"
Pain in the Asset (RT video)
Number of European Parliament officials soars as budget spirals 'out of control'
Singapore Shows Asia Dilemma as Inflation Compounds Global Economy Risks
Singapore Says Its Growth Is Slowing
Rationing among recommendations to tackle climate change (Singapore)
Climate change is just a pretext. They know they will be facing an extreme food shortage. -- RF
Emerging Countries in Talks on IMF Boost
Troubles of West Take Toll on Emerging Economies
Australia's skills shortage escalates over 20%
"Reinforcement of the warnings we have been issuing comes from accounting firm KPMG which expects the retirement of baby boomers over the next decade to present labour challenges to small and medium-sized businesses in Australia."
Report: Arab Spring upheaval cost $55bn

## Fault lines/flashpoints/military ##
Syria is heading for full-blown civil war, top UN official warns
Obama sends 100 troops to combat LRA in Uganda

## Global unrest/mob rule/angry people ##
Clashes as 'Occupy' protesters march on Wall Street
Occupy Wall Street stays; park cleanup put off
Wall Street sit-in goes global Saturday
Wall Street Protests Spreading to Asia-Pacific Region, London
Occupy London Vows to Bring Out Thousands of Protesters
Protesters plan to 'occupy' London Stock Exchange
Tunisian police use tear gas on Islamist protesters
Italian Students Rampage Goldman Sachs, Unicredit And Fininvest Headquarters (video)
Denver Police in Riot Gear Move Into Wall Street Protest Area
Occupy Canada rallies put police on alert

## Energy/resources ##
Coal crunch may trip power plants including those of NTPC
"Power plants in India are rapidly running out of coal and some have already stopped generation, plunging vast parts of the country into darkness and interrupting industrial output in many regions."
Coal India May Face More Strikes on Higher Pay Demand
Oil-Rich but Gas-Poor in the Middle East
"Once considered a nuisance to drillers, natural gas is now in short supply"
Nigeria: Blackout Bites Harder in Many States
Short on coal, Punjab stares at blackout
Strong quake briefly halts Russian oil supplies to China
Peak Metal: U.S. Preparing for the Coming Shortages in Metals and Minerals
Export of water, ice banned (KSA)
Saudi oil Saudi energy demand to double by 2028
Power-cuts melt ice cream sales (India)
Chile Considering Rationing Energy To Industrial Clients

## Infrastructure scavenging ##
Stolen Sir Peter Blake statue replaced with cheap copy (UK)
"Artist Sir Peter Blake's only public sculpture is to be replaced with a replica after the original was targeted by metal thieves."
Metal thefts rise with fall of economy (US)

## Got food? ##
Want an apple this year? Washington state governor to Congress: Help
The world can feed itself without ruining the planet, study says
Unfortunately, the breakdown of industrial agriculture and the cold chain will not only make it impossible to feed 9 or 10 billion people, but also leave much of the existing population facing starvation. Food production and consumption must be intensely relocalized. -- RF
Revisiting Population Growth: The Impact of Ecological Limits
"We can recycle phosphorus, potassium, nitrogen, and other essential minerals and nutrients, but the number of people that even the most efficient recycling could support may be much less than today's world population."
Scientists Seek A Break In Aquaculture's Fish-Eat-Fish Chain
"It takes about three pounds of feeder fish to produce one pound of farmed salmon."
Analysis: Hog, poultry firms to extend use of feed wheat (US)

## Environment/health ##
Bangkok Strengthens Defenses As Floods Close In

"Shares of Chinese banks and other companies have fallen so low that they seem to be pricing in a collapse in profits."
"The pension funds of U.S. state and local government employees dropped 22.7 percent from 2008 to 2009, the Census Bureau reported Thursday."
Failing dreams: California faces its own Great Depression
"It is less than 20 miles from the pristine surfing beaches of the California coast to a scene of Third World deprivation."
Despite the reassuring tone, the muni bond bust is coming because growth is dead. -- RF

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