Friday, October 28, 2011


News Links, October 29, 2011

## Global economic meltdown ##
China Is 'Open to All Options' on Aiding Europe
Fitch says 50% Haircuts would Constitute Default; No Official Ruling from ISDA Yet; Wrong Decision Could Kill CDS Market; How Will Setup be Resolved?
Italy's Borrowing Costs Rise to Euro-Era Record at Bond Auction
Spain's Unemployment Rate at 21.5% as Europe Flounders
One Day After The Euphoria, Here Comes The Hangover
Greeks abandon cash resort to bartering (RT video)
The Next 7 Critical Dates In Europe That You Need To Watch
What's a young person supposed to do?
"Young people in bankrupt western nations do not have a particularly bright future. To put it bluntly, society is going to force-feed you a shit sandwich."
Quote Of The Week (Larry Summers)
Abu Dhabi chasing Dubai as GCC's worst construction market
Dollar Decline in Full Swing in Risk-On Environment

## Fault lines/flashpoints/military ##
Profile: Saudi Arabia's Crown Prince Nayef
"Nayef is generally described as a 'conservative,' often in opposition to Abdullah. His work as interior minister has focused on stamping out what he perceived as threats to Saudi Arabia's stability. He controls security services that employ more than 130,000 people."
Army confirms Chinese buildup along India border
Union members join Occupy Toronto protesters in march
U.S. Embassy in Bosnian Capital in Lockdown
Pakistan Test-Fires Nuclear-Capable Missile
U.S. Flying Armed Drones Out of Ethiopia: Report
37 killed as anti-government Syrians demand no-fly zone
Preparing For Regime Change?: Turkey Shelters Anti-Assad Fighters
Saudis mull oil as a weapon against Iran

## Global unrest/mob rule/angry people ##
Tents return to Oakland protest site
Occupy San Diego: Update on 3 Weeks of Occupation
Occupy camps in Nashville and San Diego broken up
Occupy RoundUp: San Diego and Nashville Protestors Arrested; Egyptians March in Solidarity
Shanghai Homeowners Smash Showroom in Protest Over Falling Prices
St Paul's showdown: lawyers act to clear Occupy London camp
Greek protesters call president "traitor", halt parade
Egypt protesters demand that army quit power

## Energy/resources ##
India's decision to stop nuclear program may trigger problems
33 power plants running at less than 4-day coal stock (India)
Cabinet considers leasing electricity-generating ships (Lebanon)
"Energy and Water Minister Gibran Bassil disclosed Wednesday that the Cabinet is studying a proposal to lease powerful electricity generation ships to compensate for the electricity shortage in the country."
PetroChina runs at full pace, boosts imports amid diesel shortage
Gasoline Cargoes to U.S. May Rise as Refineries Cut Production
"U.S. agricultural demand for diesel has spurred refineries to increase production of that fuel, and cut gasoline output."
World Running Out of Water

## Got food? ##
Food Companies Petitioned To Ban New Monsanto GMO Corn
Gas leak will cause food price hikes (New Zealand)
"Repercussions from a leak which cut gas flows north of Taranaki could ripple through the whole country, with core groceries such as cereal headed for short supply, and prices of greenhouse vegetables set to soar."
15 insects you won't believe are edible
U.S. Retail Food Prices Expected to Keep Rising
Food inflation soars to over 6-month high of 11.43% (India)

## Environment/health ##
Weather Changes Mean More Dead Zones For Lake Erie: Expert
Thai Floods Swamp Grand Palace as Bangkok River Reaches Record

## Intelligence/security/internet/systemic breakdown ##
China link found to virus targeting Japanese diplomatic offices
Virus tailored to Japan ministry / Skilled hackers may have used secret info to prepare attack
Google Refused U.S. Government Request To Pull Police Brutality Video
Netflix is the single-biggest user of Internet bandwidth
"The U.S. streaming entertainment service Netflix takes up 32.7 percent of Internet bandwidth worldwide, a study found."

## Japan ##
After Japan's Disaster, the Deluge
"Japan's manufacturers still recovering from the triple disasters of earthquake, tsunami and nuclear meltdown now have to contend with a fourth crisis: Floods in Thailand. For the companies involved, it may be the biggest problem of them all."
8 Toyota Group Firms Post Worse Interim Net Results
"Reeling from the March 11 earthquake and tsunami, eight of 10 major group firms under Toyota Motor Corp. (7203) on Friday reported net losses or lower net profits for the April-September half."
Toyota reduces N. America operations over Thai floods
New figures show extent of quake's impact on car industry
Japan's jobless rate falls to 4.1% in September
The real unemployment rate is certainly much higher. Many young people, for instance, are unemployed or underemployed and living with their parents. -- RF
Gov't to slash upper limit on internal radiation exposure from food
Panel advises limiting lifetime radiation exposure to 100 millisieverts
TEPCO forecasts net loss of 580 billion yen for fiscal 2011
Stopgap measures for TEPCO / Utility's liabilities may exceed assets without government's help
Yen's new highs could derail Japan's economic recovery

## China ##
There's A Much Bigger Underground Banking Crisis Brewing In Ordos
And check out the slide show. -- RF
Saab sells for $140 million to Chinese firms

## UK ##
London Riots Were Motivated by Poverty, says British Government Report
Fuel poverty to cause 2,700 deaths in the UK this winter
Four in ten wealthy people forced to work longer

## US ##
Wisconsin city turns out the lights to save cash
Bank of America Derivatives Transfer Draws Lawmaker Scrutiny
Power failure leaves Cannon Air Force Base in the dark
Whirlpool Plummets as Appliance Demand Slips
"Whirlpool Corp. (WHR), the world's largest maker of appliances, sank the most since 1987 after saying it will cut 5,000 jobs and lowering an annual profit forecast by as much as 36 percent with demand in the U.S. falling back to recessionary levels."
Wintry Storm to Spread Snow Across U.S. Northeast
Forecasters Predict Colder U.S. Winter Will Spur Fuel Demand
Nightmare scenario: U.S. deflation risks rising
Report: Fights erupt among Occupy Wall Street protesters
Employee Compensation Growth Is Smallest in Nearly 30 Years
The Next Worry for Markets: No Deal Yet on US Debt

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