Friday, October 07, 2011


News Links, October 8, 2011

## Global economic meltdown ##
Moody's Downgrades Nine Portuguese Banks
Moody's Cuts Rating on 12 UK Financial Institutions
Italy and Spain debt downgraded by Fitch
Moody's Puts Belgium's Credit Rating On Review
Emerging Markets Money Braced for China Shock
Euro-Indebted Emerging Market Currencies No Longer Insulated From Slowdown
IMF: Global Risks Threaten Australia
China labor costs push jobs back to U.S.
Banks to Sell $40B of Assets Amid EU Crisis
"European banks are planning to sell more than 30 billion euros ($40 billion) of assets as the debt crisis increases the need to raise capital, according KPMG LLP."
Vietnam to reintroduce gold trading to cool spiralling prices
Dexia Inches Toward Breakup as France Joins Belgium, Luxembourg in Salvage
Spain's Net Foreign Debt Exceeds One Trillion Euros for First Time

## Fault lines/flashpoints/military ##
NATO prepared to keep up Libya fight
Thirty-two bodies found in Mexican Gulf state
Computer Virus Hits U.S. Drone Fleet
Ten years on, Taliban says "victory is with us"
Assad should reform or quit over Syria uprising, says Dmitry Medvedev
Paramilitaries may have entered Mexico's drug wars
As gang violence hits El Salvador, a new wave of disappearances
Banned Islamists rally in full view in Pakistan's capital
North Korea Could Conduct 3rd Nuclear Test: Seoul
Venezuela Secures $4B Russian Loan for Military
Israeli Arms Exports Reach $7 Billion

## Global unrest/mob rule/angry people ##
The Wall Street Protesters Are Now In 15 Major Cities Across The Country
Occupy Wall Street: List and map of over 200 U.S. solidarity events and Facebook pages
Occupy Wall Street protest spreads to Las Vegas
Wall Street protests spread to US capital
Occupy Wall Street protests hit streets of Salt Lake City
Occupy Wall Street Spin-offs In Houston And Other Texas Cities
'Occupy Wall Street' comes to Hartford
'Occupy' Protests Being Planned For Madison
Nestle chief warns of new food riots
Qantas Expects Strikes to Affect Many Passengers
Italy's students protest against cuts to education system (includes video)
Chilean girls stage 'occupation' of their own school in education rights protest
Ex-monk burns to death in latest outbreak of Tibetan unrest
Police clash with funeral marchers in Bahrain

## Energy/resources ##
Rudy Giuliani to do ads promoting safety of nuclear power plant
Armenia's Aging Metsamor Nuclear Power Plant Alarms Caucasian Neighbors
Limerick power plant gets warning about safety during earthquake
Analysis: After heat wave, Texas debates power needs next summer
"State regulators and utilities are weighing a myriad of short-term and long-term strategies to encourage companies to build new power plants at a time when long-term wholesale power prices are barely half the level needed to justify new investment."
The high costs of primary energy supplies and construction, and the already colossal amount of accumulated debt, pretty much put the kibosh on any large expansion of power production anywhere in the world. -- RF
The Dirty Secret About Clean Energy Jobs
The most important points to note about renewable energy is that it isn't cheap, it is dependent on fossil fuels, and it faces scaling problems. Industrial civilization needs energy that is cheap and plentiful, and that can replace fossil fuels. Nevertheless, renewables can play a valuable role as a cushion enabling a soft landing. It all depends on where our priorities are. -- RF
Post oil: Solar roads, air-powered cars, human-powered iPhones
Just another one of countless feel-good articles which fail to discern the crucial role of cheap and abundant fossil-fuel energy in industrial civilization. -- RF
Brent above $102; Libyan oilfield may be in ruins
Venezuela's Chavez eyes new oil cartel
Gasoline Cargoes to U.S. to Slide 35% on European Refinery Maintenance

## Infrastructure scavenging ##
£80,000 copper cable stolen in Essex village (UK)

## Got food? ##
India's Food Inflation Accelerates to 9.41%, a Three-Week High
ASEAN+3 to sign deal for emergency rice reserves
China's corn rush to redraw global food landscape

## Environment/health ##
Drought-stricken Pacific islands down to last few days of water
CDC: 21 dead, 109 sick as cantaloupe outbreak expands

## Intelligence/security/internet/systemic breakdown ##
FBI to launch nationwide facial recognition service
FBI keeping eye on China, Russia, Iran cyberspying

## Japan ##
Toyota Said to Tell Parts-Makers to Cut Price or Be Replaced
Japan extends its post-quake loan scheme by six months
TEPCO drops new graduate hires in FY13 / Personnel cuts to include rehired staff
Cesium levels off Fukushima Prefecture 58 times higher than before quake
Okutama cesium level seen spiking
Fish catch in tsunami-hit areas plunges as nuclear crisis dampens demand

## China ##
Property gloom deepens as China holiday ends

## UK ##
Moody's cuts RBS and Lloyds ratings
'Minor' radioactive leak at Dounreay nuclear plant
Prospect of strike action increases
Value of private pensions falls by nearly a third in three years

## US ##
Half the US population feed on the other half and the recession has not even begun
"Almost half of the entire US population is now dependent on some kind of government aid, as per the Census data of Q1, 2010. The exact figure stands at 48.5%.
"And almost 46.4% of households will not be paying any Federal tax in 2011, as per the Tax Policy Center. This is worse than 39.9% in 2007 when the economic collapse began."
Census: Housing bust worst since Great Depression
Retirement Will Be WAY More Expensive Than You Think
Low-interest CDs are eating up South Florida retiree nest eggs
Insurer Catastrophe Claim Payouts Nearly $25B This Year
Insight: Americans seethe as banks hit them with new fees
Georgia may use prisoners to fill farm labor gap
Just the other day we saw that the UK plans to use prisoners. As energy decline proceeds, more people will come up with the idea of using slave labor to prop up industrial society. -- RF
US Needs To Generate 261,200 Jobs Per Month To Return To Pre-Depression Employment By End Of Obama Second Term
Amtrak: more popular - and more at risk - than ever
Mitt Romney calls for century of American dominance
"Mitt Romney, the Republican presidential frontrunner, has called for a century of American dominance and greater defence spending, in his first major venture into US foreign policy."
Last throes of empire. -- RF
Americans' use of credit cards, loans drops most in 16 months
Consumers shed debt in August
Temp Nation: 'No One's Hiring Unless They Have To'
The Top 100 Statistics About The Collapse Of The Economy That Every American Voter Should Know
Obama's "Millionaire Tax" Collected Over Next Ten Years Will Plug 4 Months Worth Of Deficit
Major Economic Indicator Still in Freefall
State tax revenue falters as economy weakens
Keep watching for that inevitable muni bond crash. -- RF
Biotech's looming drought? Illumina CEO warns research money is drying up
More Theft in Store for Retailers, Survey Says
"A prominent retail group on Thursday reported a nationwide increase this year in shoplifting and pharmacy thefts, calling the fight to stop store crime 'an uphill battle.'
"The Retail Industry Leaders Association blamed an expanding black market for the rise in organized shoplifting crimes, with stolen goods surfacing on the Internet, in flea markets and in storefront bodegas."

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