Wednesday, November 30, 2011


News Links, December 1, 2011

## Global economic meltdown ##
Italy Reportedly in Exploratory Talks With IMF for Aid
Germany Open to Boosting IMF Funds to Fight Crisis
Central banks step in to stave off new credit crunch
Europe Enters Critical 10 Days to Save Itself
Goldman Urges Bet Against Euro Junk Debt
"Goldman Sachs Group Inc., after this year's losing endorsement of U.S. bank stocks, recommends as its top trade for 2012 a bet against European high-yield corporate debt and forecasts a 'deeper recession' for the region."
Maximum Intervention Moves Into Overdrive; Foreign Banks can Fund themselves Cheaper in US Dollars than US Banks; Discount Rate Cut Coming Up?
CRAMER: The Central Banks Did This Because A European Bank Was Going To Fail
Did A Large European Bank Almost Fail Last Night? (ZH)
Shirakawa: Central Banks' Liquidity Provisions Alone Won't Solve Crisis
"TOKYO (Dow Jones)--Bank of Japan Gov. Masaaki Shirakawa said Wednesday that coordinated central banks' action to shore up the global financial system was intended to give the financial market "a sense of relief," but that enhancing the liquidity provision alone is not an answer to solving the deepening European debt problem."
Duh! -- RF
Spain, France Bond Sales Take on Crisis as Firewall Eludes Euro Leaders
"Spain and France auction 8.25 billion euros ($11 billion) of bonds today as European efforts to strengthen the region's firewalls against contagion failed to rein in surging borrowing costs."
Chris Martenson's presentation at the Gold & Silver Meeting in Madrid (includes video)
South Korea's October Industrial Output Falls 0.7%
"South Korea's industrial output in October fell for the third time in four months, government data showed on Wednesday, missing market expectations and hit by softening global demand while domestic spending remained weak."
Indian growth at lowest level in two years
Canadians rein in debts amid uncertainty
Bank of Thailand Cuts Rate
Brazil Cuts Rate for Third Meeting to 11%
"Brazil's central bank cut borrowing costs by half a point for a third straight meeting as a global economic slowdown threatens to exacerbate a slump in domestic demand."

## Fault lines/flashpoints/military ##
Another Blast in Iran, This Time Followed by Rockets Landing in Israel
Pakistan army says NATO attack was blatant aggression
UK expels Iran diplomats after embassy attack
Dubai traders fear sanctions impact on Iran business
"China Will Not Hesitate To Protect Iran Even With A Third World War"
France Backs Sanctions On Iran After UK Embassy Attack
Syria tries to ward off sanctions by releasing hundreds of political prisoners

## Global unrest/mob rule/angry people ##
Consumers protest power shortages (Uganda)
Protesters go berserk in Kahuta (Pakistan)
"Residents of Kahuta went berserk on Tuesday as they damaged a CNG filling station and several vehicles when the police tried to intercept them during their protest against low pressure and load shedding of the gas."
LAPD Moves in to Evict 'Occupy Los Angeles' Protesters
More than 200 held after police raid Occupy camps in LA, Philadelphia
Chernobyl cleanup veterans join Ukrainian protests
Arrests after Occupy protesters target West End office
"More than 20 arrests have been made after anti-capitalist protesters attempted to occupy a building near Piccadilly Circus in central London."
Public sector strike rallies held across UK
Malaysia bans street demonstrations
UAE unveils $2.7bn fund to pay debts of poor
Concerns grow over spreading strikes in Guangdong

## Energy/resources ##
Gazprom sees shale gas as risky
"Executives at Russian natural gas company Gazprom said certain aspects regarding production of shale gas made it a pricey commodity to exploit."
Ben-Gurion Int'l Airport: excessive water levels found in jet fuel
"A similar problem occurred at Ben-Gurion International Airport last May, when the Airport Authority's fuel supply was found to be badly contaminated"
Motorists suffer in long queues as CNG stations closed (Pakistan)
Power outage in Johannesburg (SA)
"A major power outage in the Johannesburg area has left 26 suburbs without electricity since midday."
Montenegrin power plants are working with only five percent of their capacity
Is a U.S. Mining Company Funding a Violent Crackdown in Indonesia?
What Keeps Solar Energy Executives Up at Night
Oil, gas prices increase as Iranian mob attacks UK embassy
Crude oil in New York tops $101 per barrel
South Sudan might cut oil production
No miracles in science: The story of the "energy catalyzer"
You see? There is no free lunch. There never was, and there never will be. -- RF
Solar power bankruptcies loom as prices collapse
Pakistan Raiways suspend 38 more trains owing to fuel shortage
Funds, refiners ponder oil Armageddon

## Infrastructure scavenging ##
Drivers being put at risk by metal thieves (UK)
Copper Wire Thefts Plague City Street Lights (US)

## Intelligence/security/internet/systemic breakdown ##
Cellphone emergency call service failed following East Coast quake
Researcher's Video Shows Secret Software on Millions of Phones Logging Everything
Air Force Extends Secret Space Plane's Mysterious Mission
In world's biggest democracy, parliament doesn't work
Just part of the general dysfunction affecting governments around the world. -- RF

## Japan ##
Fukushima Radiation Risks ``Severely Underestimated``: Greenpeace
Fukushima governor wants all 10 nuclear reactors in prefecture scrapped
Study shows deeper meltdown than thought at Fukushima nuclear reactor
Nuclear cleanup volunteers' invisible enemy
Japan forex move exceeds Y9 trillion
"Japan sold 9.09 trillion yen from late October to stem the currency's rise against the dollar, the finance ministry said Wednesday, amid fears over the nation's post-quake economic recovery."

## China ##
Pilots' shortage: Campus recruitment drive in China
China cuts bank reserves in policy shift to lift economy
China to Increase Power Prices
"'Despite persistent high inflation, China [has decided to] finally bite the bullet in raising electricity tariffs, which in our view foreshadows domestic price hikes for gasoline and diesel in the not-too-distant future,' said Gordon Kwan, head of energy research at Mirae Asset Securities."
China winter-spring power shortage forecasts

## UK ##
British embassy staff leave Iran following ransacking of diplomatic offices
Met considers buying water cannon
Strike hits 76% of schools

## US ##
One in five American homes 'underwater'
Cancellations Plague Pending Home Sales
"Thirty-three percent of Realtors reported at least one cancellation in October, which is up from 8 percent a year ago."
U.S. States Face $40 Billion in Deficits in 2013, Groups Say
Abracadabra! Bankrupt Cities are Suddenly Un-Bankrupt! (Or Not)
The muni bond bust WILL happen. -- RF
Dow Jones Industrial Average Jumps 490 Points; Biggest Gain Since March 2009
Don't get excited. This is just the pump phase of another pump-and-dump operation. -- RF
400 Dow Points Aren't What They Used to Be
Tens Of Millions Of American Families Are Living On The Edge Of Desperation – And The Economy Is About To Get A Whole Lot Worse
Kucinich: Federal Reserve has captured control of our government
Small Banks Are Getting Smaller
Evicted but defiant, Occupy LA faces crisis moment
"Police rousted Occupy LA protesters from their encampment Wednesday, meaning the movement must reinvent itself to survive. But Occupy LA leaders say they've got a lot up their sleeves."
14th Consecutive Week Of Stock Outflows: Retail Refuses To Go Back Into Stocks No Matter What Market Does
How the U.S. Is Becoming a 3rd World Country - Part 2

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