Thursday, October 20, 2011


News Links, October 21, 2011

## Global economic meltdown ##
Franco-German split over bailout fund threatens crisis
"Deep divisions between France and Germany mean they will make scant progress on strengthening the euro zone bailout fund at a summit on Sunday in a sign that Europe's leaders are still some way from getting a grip on the bloc's debt crisis."
Extra euro crisis summit called
Euro Summit Statement "Leaked" Draft Looks Like Swiss Cheese; 10-Point Proposal for More Meetings
EU Given Rope, Hangs Itself
EU may demand rating blackout for crisis states
"The European Union's executive may ask for powers to censor credit ratings for countries in crisis, its financial reform chief said on Thursday, describing a ban as one way of stopping fallout from "ill-thought-out" ratings."
Greece adopts austerity bill amid protests
The Coming Derivatives Crisis That Could Destroy The Entire Global Financial System
Euro-Zone Crisis Hits Banks in Emerging Markets (WSJ)
"Across Asia, Eastern Europe, Latin America and elsewhere around the world, banks are tightening credit standards and facing an increase in bad loans, according to the survey to be released Friday by the Institute of International Finance, a global association of big banks.
"The report found that funding conditions in international markets have "deteriorated significantly" even as local funding conditions remained stable, clear evidence of the euro zone's troubles hitting economies that have been a key driver of global growth since the recovery began."
Thai Flooding Submerges Hard-Drive Stocks
"Stocks of hard-drive parts manufacturers sank Thursday on the growing likelihood that output of hard-disk drives will be dampened significantly by the flooding in Thailand."
Canadian jobless claims rise again
Airlines rake in billions in add-on fees

## Fault lines/flashpoints/military ##
In Syria, protests mutate to armed resistance amid economic meltdown
Railways collapse averted (Pakistan)
This conclusion is premature at best. Only promises have been made, but nothing delivered. Pakistan's rail system lacks not only money, but also fuel and locomotives. And Pakistan's economy is a shambles. -- RF
Putin defends Kremlin bid, warns of Soviet-style collapse
"Russian Prime Minister Vladimir Putin defended Monday his controversial plan to seek a third mandate as president, saying Russia needed stability and was still at risk of a Soviet-style collapse."
Mexico: Felipe Calderon, Mexican President, Accuses U.S. Of Dumping Criminals At Border
Gaddafi killed in hometown, Libya eyes future
U.S. seen struggling to win fight in Afghan east
The Son of Africa claims a continent's crown jewels (John Pilger)
"On 14 October, President Barack Obama announced he was sending United States special forces troops to Uganda to join the civil war there. In the next few months, US combat troops will be sent to South Sudan, Congo and Central African Republic. They will only 'engage' for 'self-defence', says Obama, satirically. With Libya secured, an American invasion of the African continent is under way."
Clinton urges Pakistan to get tougher on terrorists
"If Secretary of State Clinton asks Pakistan to carry out targeted operations against the Haqqani network on her visit this week, she is likely to be met with a frosty response, say analysts."
NATO Teargasses Serbs As Kosovo Teeters On The Brink
Turkey continues attacks on Kurdish fighters
Libya: The Real U.S. Drone War
UK embassy in Kuwait suspends operations after threat
China demands Manila to hand back seized fishing boats
"China demanded on Thursday that the Philippines return fishing boats that it said were seized in disputed waters in the South China Sea after a collision between a Philippine navy ship and a Chinese trawler."

## Global unrest/mob rule/angry people ##
'Occupy' to hit Bush, Clinton in Canada
Bolivian crowds greet road protesters in La Paz
Greek protests continue violent turn
Kuwait sees biggest anti-government protest yet

## Energy/resources ##
Heating oil adds pain to winter fuel bills
"Europeans face higher energy bills this winter as low heating oil stockpiles clash with cold weather forecasts and a tight power and gas sector."
Pakistan seeks Iran's help to meet energy shortage
"Pakistan plans to import gas and electricity from Iran to overcome the country's energy shortage, Prime Minister Yousuf Raza Gilani has said."
Spanish Wind Power Companies Distressed by Subsidy Cuts
Wind Energy Lies and Turbine Noise Pollution
The Role of Energy in Economic Growth (The Oil Drum)
Oil flows again in Libya but challenges remain
OPEC corrects data, names Iran as second oil exporter
"The Organization of Petroleum Exporting Countries corrected its data on the ranking of major oil exporters within the organization and placed Iran as the second largest exporter next to Saudi Arabia, Iran's OPEC governor said here on Wednesday."

## Got food? ##
Reduced ND crop harvest expected to hurt economy
"The U.S. Agriculture Department has reported that floods, hail, wind and early frost will mean farmers will harvest about half as much from some crops as they did last year."

## Intelligence/security/internet/systemic breakdown ##
FBI Ramps Up Next Generation ID Roll-Out—Will You End Up in the Database?
Naval Academy preparing officers for cyberwarfare
FBI official calls for secure, alternate Internet

## Japan ##
Japan Still Considering Total Nuclear Power Pullout
Japan to spend at least $13 billion for decontamination
3 tons of radioactive water leak at Fukushima facility
Interim Storage Sites For Radioactive Soil Eyed In 3-5 Years
"The government is considering building in three to five years interim storage facilities for the vast amounts of soil and waste being removed from sites contaminated by the nuclear disaster in Fukushima, government sources said Thursday."
Just another way in which nuclear power is crushing the economy. -- RF
Sanyo planning to slash 800 jobs
Thai flooding halts all car production by 9 Japanese automakers

## China ##
Beijing grows nervous about Occupy Wall Street
China increasingly dependent on oil imports
Wenzhou backs away from the 'Wenzhou model'

## UK ##
Plans for UK's first 'clean coal' plant collapse over £1.5bn cost

## US ##
How Six Layers of Deficits will Lead to a Retirement Disaster
"This truth is that the deficits are far too large to be repaid by taxpayers decades from now, but will be instead effectively repaid through the destruction of retiree savings and retirement investment portfolios in the coming years."
The Ranks of the Underemployed Continue to Grow
Poverty rates up in most U.S. states, cities
1 in 5 Americans Plans On Finding A Second Job For The Holidays
Crumbling infrastructure: 18,000 Busy Bridges Are Structurally Deficient, New Study Says
Student loans outstanding will exceed $1 trillion this year
Drought to continue in Southern plains, officials say
Adapting to the new dust bowl
U.S. 'Misery Index' Rises To Highest Since 1983
Fewer Than 1 in 4 Americans Trust the U.S. Financial System
Half of millennials don't think they'll get Social Security
And they're right. -- RF
In Closed-Door Meeting, Bernanke Reveals: No More Monetary Stimulus Coming
Federal Reserve official says Fed should consider buying mortgage bonds again to boost growth
Equity Mutual Funds See Biggest Outflow Since August Despite Market Ramp
Philly Fed factory activity highest since April
"The Philadelphia Federal Reserve Bank said its business activity index jumped to 8.7 from minus 17.5 the month before.
"That far exceeded economists' expectations for minus 9.0, according to a Reuters poll, and was the highest since April 2011."

And finally... Man jailed after trying to turn faeces into gold

<< Home

This page is powered by Blogger. Isn't yours?