Sunday, October 02, 2011


News Links, October 2-3, 2011

## Global economic meltdown ##
Greece due to unveil plan to sack state workers
Greece Says It Will Miss Deficit Target
Commodity Funds Slash $34 Billion Over Two Weeks
Global stocks shed 10 tril. dollars since March
"The total market value of stocks worldwide during the six months since the end of March has decreased by about 10.13 trillion dollars (about 776.94 trillion yen), according to stock market data."
Wall Street gets a taste of the dark side of Globalization (Forbes)
Out Of The "Hard Landing" Pan And Into The "Crash" Fire - Are Things About To Get Even Worse For China?
Saudi Arabia will pay unemployment benefit from Nov
Bahrain rents down 25% as unrest batters real estate

## Fault lines/flashpoints/military ##
Rick Perry suggests US military role in Mexico drug war
Hundreds of Afghans hold anti-Pakistan protest
Iran "totally rejects" Palestine U.N. statehood bid
"Iran's supreme leader rejected the Palestinians' U.N. statehood bid on Saturday, saying any deal that accepted the existence of Israel would leave a "cancerous tumor" forever threatening the security of the Middle East."
Panetta Warns of Israeli Isolation

## Global unrest/mob rule/angry people ##
700 protesters arrested trying to cross Brooklyn Bridge
Hundreds freed after New York Wall Street protest
Wall Street protesters approve 'Declaration of Occupation'
Anti-cuts march in Manchester: More than 35,000 attend
"Manchester Central Labour MP Tony Lloyd, who was among those at the head of the march, said: 'People here are angry, but many are frightened.'"
Protesters set up camp in front of Los Angeles City Hall
Amsterdam police break up squatter rally
Loadshedding runs riots nationwide
"Rampant loadshedding has brought about mass protests across Pakistan breaking the back of already crippled business activities, Geo News reported."

## Energy/resources ##
Power shortage climbs to record 7,000MW (Pakistan)
"The Power shortage has climbed to record 7000-megawatt, causing prolonged load shedding in the entire country."
Tests show all 143 reactors in EU safe
They all passed their "stress tests" — how reassuring! -- RF
Iran in talks to increase oil swaps with its neighbors: NIOC
S. Korea September Oil Imports Rise 8.2% to 81 Million Barrels
Unconventional gas production costs in Gulf too high: Saudi Aramco
Problems in LPG supply
"Public unhappiness is growing in Kuwait at a shortage of liquefied petroleum gas (LPG) cylinders widely used for cooking, especially since Kuwait does not yet have any mains gas supply."
Power outage halts airport passenger trains
Massive power outages torment Karachiites
Industries decide not to pay utility bills
"Industrial associations have decided not to pay bills until Karachi Electric Supply Company (KESC) assures of uninterrupted power supply, a statement said on Saturday."
Power supply situation remains grim in AP; more cuts in the offing (India)

## Got food? ##
Global demand, ethanol fuel food-price hikes
Mosaic: Food demand outweighs broader economic slowdown
Back-Porch Beekeepers Take Honey Hyperlocal
Long road from farm to fork worsens food outbreaks
"The recent listeria outbreak from cantaloupe shows that large-scale occurrences of serious illnesses linked to tainted food have grown more common over the years, partly because much of what we eat takes a long and winding road from farm to fork."
Rains, heat to reduce US wheat harvest by 9%

## Environment/health ##
Huge ozone hole expanding over the North Pole

## Intelligence/security/internet/systemic breakdown ##
Federal government simulates cyber attack for training (US)

## Japan ##
Fukushima plant crisis could erupt if water injection stops for 38 hrs
TEPCO finds own nuclear accident manual useless
Majority of N-crisis evacuee households report health, financial woes
Rebuilding needs lead to record budget requests
"The fiscal 2012 budget has swollen to a record 98 trillion yen ($1.27 trillion) after central government ministries were granted a virtual blank check for reconstructing the areas affected by the Great East Japan Earthquake."
Wave power excites as next energy source
Forget it. Very little power will ever be generated by wave power. -- RF
Miyagi begins testing debris for radioactivity before sending it to other prefectures
Listed firms lose 38% of paper gains on stocks
"Japanese listed companies have seen the profit on their shareholdings decline by more than 38 percent in the past half year."
Japan stocks fall sharply, with exporters tumbling

## China ##
Amid poverty, Chinese officials splurge on lavish vanity projects
China Calls for Internet Crackdown
Beijing's new gold standard: ATM spits out bars and coins
China suspends railways projects
"Chinese banks have been instructed not to lend money for new railway construction and 'there is no decision yet on the next move for China's high-speed railways,' the the 21st Century Business Herald newspaper reported."
September PMI Suggests Chinese Manufacturing Isn't Really Growing Much

## UK ##
Sharp rise in demand for food handouts from poverty-stricken families
"Britain has seen a sharp increase in the number of people unable to afford to feed themselves at the most basic level."
Minimum wage harming job opportunities for young
"The minimum wage may be pricing young people out of work because employers are finding it too expensive to give them their first job, Government pay advisers have said."
'Cash crisis' threatens future of London fire service, says union
Britain's nuclear spending soars amid defence cuts
Record-breaking heatwave is set to continue

## US ##
White House Cuts $25 Billion More From Defense to Fund VA
Congress Addresses Chinese Currency Manipulation
Real Estate Creeps Cat-Like To Lower Lows (Bill Bonner at Forbes)
"Cash is still king because non-cash is a commoner and a loser. It's losing its value. In other words, forget inflation. Forget price increases. It's cash on the barrel head, cash in hand, cash and carry. You got cash? You da king!"
California's Debt Service Rises to 7.8% of Budget, Lockyer Says
Mental toll of extended unemployment looms large
The Long Arm of Debt Stretches into Condo Fees, Car Repos
House is Gone but Debt Lives On; Expect Huge Surge in Deficiency Lawsuits
It's Economic Pain That's Keeping Americans Away from the Dentist
Wild market ride is driving people out of stocks
"Just how turbulent is the stock market? More than half a trillion dollars in paper gains were made and lost within just two weeks in September. The S&P 500 jumped 5 percent in the week ending Sep. 16, the second best week this year. The next week it plunged 6 percent, the second worst week this year."
Heating assistance in jeopardy for low-income families

And finally... 'IOU': 65-foot-high sculpture inspired by US debt

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