Wednesday, October 26, 2011

 

News Links, October 27, 2011

## Global economic meltdown ##
Eurozone debt crisis: EU leaders dither over rescue plan
Graphic: eurozone debt levels and bailout fund
German Lawmakers Set to Back EFSF
"A broad majority is virtually certain to support a resolution backing a package of options to boost the firepower of the €440 billion ($611.91 billion) fund to more than €1 trillion without increasing contributors guarantees for the fund. All major parties approved the resolution in their parliamentary groups on Tuesday, making the resolution's passing highly likely."
Idiot Market Jumps On 12 Hour Old News Of Yet Another Chinese Euro Bailout, Since Refuted
Euro Zone to Quadruple Bailout Fund: Sources
EBA Releases Details Of €106 Billion Bank Capital Shortfall
What Happens If Europe Crushes the Swap Market?
Grateful for Idiocy, a Pack of Lies, Financial Engineering, Legerdemain, and Trickery; Opposition Leader Rebukes Merkel's Lies and Arrogance of Power
European Drama Engulfs The World's Oldest Bank
Brazil Rejects Plan to Purchase Europe Debt
France Eyes More Belt-Tighting as Election Looms
Thai Flooding Hits Big Manufacturers
"The damage from floods in Thailand is spreading to more of the world's biggest manufacturers as supply chains falter and break under the weight of the spreading disaster."
Flooding in Thailand does major damage to local plastics processors
ArcelorMittal to idle Polish furnace on weak demand
This is a bellwether. Recall that after the crash of 2008 many blast furnaces around the world were shut down. Japanese and Korean steelmakers are likewise reporting poor results. -- RF
Central Bank Gold Buying Likely To Continue - WGC Official
Central banks are losing fight against gold, Tocqueville's Hathaway tells King
Italy Pledges Asset Sales to Reduce Debt
Borrowing Costs Rise as Italy Auctions 10.5 Billion Euros of Debt
Capital flight from Russia may reach $60 billion this year

## Fault lines/flashpoints/military ##
Bombs in Iraq's Mosul kill five, injure 22: police
Fall of Syrian government is "unavoidable": French formin
Silvio Berlusconi 'makes secret pact to step down'
As Yemen crisis grows, south separatists see opportunity
Taliban commanders say Pakistan intelligence helps them
"Pakistan's security service provides weapons and training to Taliban insurgents fighting U.S. and British troops in Afghanistan, despite official denials, Taliban commanders say, in allegations that could worsen tensions between Pakistan and the United States."
Saudi king set to name Prince Nayef as heir
Qatar admits it had boots on the ground in Libya; NTC seeks further NATO help
Arab League meets Syrian President Assad in Damascus
Report: Syrian forces preparing to storm Damascus suburb
China Wants Bases in Pakistan
Drug Violence Swamps A Once Peaceful Mexican City
NATO Preps for World War? (Daily Bell)
Vietnam, Philippines eye alliance on Spratlys row
Panetta Pledges 'Nuclear Umbrella' for S. Korea
Ukraine says will let Russia modernize Black Sea Fleet

## Global unrest/mob rule/angry people ##
Tenth Tibetan monk burns self in west China: group
Mongolians call for protests after herder's death
Tibet: Students Storm Chinese Embassy In India
Clashes as police destroy "Occupy Oakland" camp
Egyptian Brutality Comes to America: Police Fire Rubber Bullets at Peaceful Protesters
Atlanta cops eject Wall Street protesters
Riots erupt over Pakistan's chronic electricity cuts
Yemeni women set veils ablaze in protest at Saleh crackdown
"Hundreds of Yemeni women set fire to veils on Wednesday in protest at the government's crackdown on demonstrators, after overnight clashes in the capital and another city left 25 people dead, officials said."

## Energy/resources ##
The human cost of defending Libya's oil
"Oil companies are still mainly visible only in hotel lobbies in the form of security contractors hired to assess infrastructure and monitor threats to security. The first step no doubt, but it is only a tentative move."
Yergin: Only politics can threaten energy supplies
"Author says new technologies have unlocked enough resources to feed growing energy demand"
Every time Yergin opens his mouth, he gets ten times more in refutations. -- RF
MENA oil exporters face uncertainty in 2012 from global slump, unrest: IMF
China's oil thirst will squeeze market -funds
Sinopec lifts diesel output to ease severe shortages
Saudi cement firms face fuel shortages
The Peak Oil Crisis: The Energy Trap (Tom Whipple)

## Got food? ##
Rice Crops Take A Pounding From Southeast Asian Floods
Fertilizer import must to avert crisis (Pakistan)
U.S. Food-Inflation Forecast Raised to 3.5%-4.5% on Fruit

## Environment/health ##
Inmates Evacuated From Thai Prisons As Epic Floodwaters Rise

## Intelligence/security/internet/systemic breakdown ##
Virgin Galactic's Flights Seen Delayed Yet Again
The private sector was supposed to lead space development. Will I ever get to vacation on Mars? -- RF
National Security Agency helps banks battle hackers
"The National Security Agency, a secretive arm of the U.S. military, has begun providing Wall Street banks with intelligence on foreign hackers, a sign of growing U.S. fears of financial sabotage."

## Japan ##
Japanese dealers selling 'radioactive cars'
"Unscrupulous used-car dealers in Japan are selling vehicles exposed to dangerously high levels of radiation to unsuspecting buyers."
Japan steel firms cut outlook as market worsens
Cyberattacks hit Japanese embassies, consulates in 9 countries
Tokai No. 2 leaks 22 tons of water

## China ##
Great Wall Collapsing due to Climate Change & Human Activity
China to step up social media censorship
China Largest Real Estate Developer Warns of Price Falls
Dropping Real Estate Prices Draw Protests
"Irked by markdowns in their homes' values, hundreds of Shanghai homeowners staged a protest this weekend against their real estate developer."
Boots On The Ground In China: Signs Of A Slowdown Are Obvious
Police in China hunt for 'runaway bosses'
"Police in China have launched a crackdown on entrepreneurs who have gone into hiding to avoid repaying bank and informal high-interest loans."

## UK ##
UK population 'to hit 70m by 2027'
Fat chance. Britain's food self-sufficiency rate is about 59%. -- RF
Graphic: Lowest disposable income growth in 30 years
Job insecurity for millions is fuelling social unrest, expert warns

## US ##
Patriot Act Turns 10, With No Signs of Retirement
Income of top 1 percent far outgrew others: report
Company Directors See Pay Skyrocket
Defense Industry: Keep Paying Us or the Economy Dies
Deficit-cutting 'super committee': Can it come up with a plan in time?
Supercommittee Dems Said to Pitch $3T Plan
FBR to Cut Workforce Up to 35 Percent
As State Funds Dry Up, College Costs Skyrocket
"The cost of a public college education is up more than 8 percent, and as the College Board reports, there's no end in sight to the tuition hikes."
The US Is Fast Becoming a Third World Police State
Relentless Equity Outflows Continue: YTD Mutual Funds Redemptions Surpass 2010 Total, Despite Broad Market Squeeze
More Coal In The Stocking For Holidays

And finally...
Humongous Lego man washes ashore, stumps passersby
Nokia's Lumia translates as 'prostitute' in Spanish



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