Wednesday, November 16, 2011

 

News Links, November 17, 2011

## Global economic meltdown ##
Forget About Italy and Greece, Spain Next on Agenda
Citi Chief Economist Willem Buiter: A Spanish Or Italian Default Could Happen In A Few Short Days
Europe debt crisis spreads to stronger economies
Bond Market Gives Overwhelming Vote of "No Confidence" in New Greek Technocrat Prime Minister
Greek health ministry power cut off
"A Greek electricity workers' union has flipped the switch on the country's health ministry building in Athens in protest at unpaid state bills."
European Government Bond Market "Frozen" says Bank of Italy Managing Director; ECB Steps in But Rally Fails to Hold
Hellish week for Indian aviation: No fuel, no food and fuming flyers
Record loss declared by Union Properties (Dubai)
We're In The Middle Of A Run On Europe—And It's Gonna Get Worse
Italy Opts Not To Release Preliminary GDP Data As It Sets Off To Raise $600 Billion In Debt In 2012
Gold is the only winner from the euro crisis
Bank of America cuts team in Dubai by 40%

## Fault lines/flashpoints/military ##
Manila rejects new Chinese claim to territory just 50 miles away from Philippine province
"China has claimed new territory less than 50 miles (80 kilometers) from a Philippine province, boosting tensions over potentially resource-rich areas of the South China Sea, but the Philippines has dismissed the claim, an official said Monday."
Israel to help Kenya fight al Shabaab militia
U.S. Denies Assisting Kenyan Forces Against Shebab
Modern-day highway robbers costing industry billions
"Cargo crime -- where consumer goods are stolen in transit -- has risen dramatically over the last decade, according to logistics security specialists Freightwatch International. It says the number of known cases worldwide has increased by an average of 10-15% year on year."
Piracy: UN team to visit Nigeria, other countries
France launches Gulf of Guinea anti-piracy operation
Obama boosts U.S. military presence in Australia
Syria defectors 'attack military base in Harasta'
Arab League pressure builds on Syria
Arabs, Israel to attend nuclear talks, Iran uncertain
Germany to set up neo-Nazi registry after ten murders

## Global unrest/mob rule/angry people ##
Global protests: is 2011 a year that will change the world?
Under seige from coast to coast, Occupy camps now losing battles in court
Police pepper spray Occupy Seattle protesters (video)
Homeland Security Coordinated 18-City Police Crackdown on Occupy Protest
Mayors deny colluding on 'Occupy' crackdowns
St Paul's Cathedral protests: peace talks fail as eviction looms
Occupy London: eviction notices attached to tents outside St Paul's
Police move on Occupy Melbourne camp
Tibetan Exiles Hold Anti-China Protest in India
81-year-old Chinese woman sets herself on fire in protest at officials demolishing family home
Thousands Of Kuwaitis Storm Parliament To Protest Corruption
CSU Tuition Hike Protest Turns Violent
Greek protesters to march as warning to new PM

## Energy/resources ##
Indian coal importers face big losses as stocks surpass 11Mt mark
"Despite an acute fuel shortage, Indian power producers are refusing to buy expensive coal, leaving coal importers to face big losses as stocks mount up."
Fuel Prices Up Yet Again (Kenya)
More pain as another fuel shortage haunts Uganda
Aluminium: 15% of world capacity at risk of shut down
Landmines hamper Iraq oil boom, delay investment
Conflict Rising in Iraq Over Oil Contracts and Revenues
"In a development that surprises no-one except armchair analysts, trouble is brewing in Iraq over the sharing of oil revenues between Iraq's largely autonomous Kurdish region and the central authorities in Baghdad over the Kurdistan Regional Government's unilateral agreement just signed with U.S. oil giant, Texas-based Exxon Mobil, to develop the region's oil resources."
Due to junk infrastructure, unrest, politics, and other problems, Iraq is not going to be the oil bonanza that everyone has been expecting. -- RF
Oil Soars and Natural Gas Withers: But the Energy Singularity is Not Forthcoming
Gregor Macdonald is always a good read. He gives us hard reality instead of pie in the sky. -- RF
Nationalism Replaces Crisis as Biggest Threat to Metal Supply: Commodities
"Rising government demands for higher taxes and royalties are becoming a bigger threat to mining companies and their production than the financial crisis that's wiped $6 trillion off stock market values since July."
Exxon Preparing to Shut Antwerp Oil Refinery for Strike
Why Krugman's Argument Against Fossil Fuels Fails Economics 101
"Opponents of fossil fuels have long championed solar power and wind power as replacements. Unfortunately, there is no evidence that solar and wind can provide the cheap, plentiful, reliable energy that our standard of living requires."
Gas war in the Mediterranean?
Revenge of the internal combustion engine
Gas mileage boost means pricier cars - EPA
Pumped hydroelectric storage
Oil tops $102 on pipeline-reversal news
Fuel shortage forces KESC to increase loadshedding (Pakistan)
Technology and the Great Stagnation: Has All the Low-Hanging Fruit Been Picked?

## Infrastructure scavenging ##
Copper Thieves Blamed for Knocking Out Power to Thousands (US)
"Tools, burned copper, and a singed body part found at the power substation."

## Got food? ##
EU lawmakers call for action to protect bees
Pratt warns of food security danger (Australia)
Bangladesh looks abroad for farmland
It's a very bad sign when countries must secure farmland abroad. -- RF

## Environment/health ##
Low French Water Tables Need Heavy Winter Rain
Bangkok warned floods may last until new year

## Intelligence/security/internet/systemic breakdown ##
Pakistan Railways crisis
"Pakistan Railways decision to suspend goods train service due to severe shortage of locomotives and fuel is another blow to this organization. It is now basically financially bankrupt organization. In other words it is on the verge of financial collapse."
Cloud Outages Strike Fear in Customers
California City Approves Spy Plane to Fly Overhead
German neo-Nazi terrorists had 'hitlist' of 88 political targets

## Japan ##
'Made in Japan' brand at crossroads as firms ponder moving production overseas
BOJ warns slower economic growth in Japan, keeps loose monetary policy
WELFARE SYSTEM UNDER STRAIN / Out-of-work people struggling for self-reliance

## China ##
China's Real Estate Collapse
China sea levels rise up to 130 mm in 20 years: report
Spy Sat Calibrators? King-Sized Jokes? China's Colossal Structures Confound

## UK ##
CCTV taxi plan 'a staggering invasion of privacy'
Police in Northern Ireland consider using mini drones
Bank of England sees 'worsened' economic outlook
UK unemployment increases to 2.62m
Youth unemployment hits 1 million
British Gas plans to axe 850 jobs

## US ##
Fed debt hits $15 trillion; GOP blasts Obama
Stocks nosedive on EU contagion fears
80 Is the New 65 for Many Retirees
I have consistently maintained that retirement and pensions are going the way of the dinosaurs. Unless you're a member of the rich elite, plan to work until you drop. -- RF
Housing Crash Causing Record Stagnation
Defense Cuts: Small Business Feels It
U.S. Banks Face Serious Risk From Europe: Fitch
California Revenue May Fall $3.7 Billion Short of Estimates, Analyst Says
School Children Rejoice: California Is So Broke It Will Shorten The School Year
Detroit Faces $45 Million Deficit, State Takeover Without Cuts, Mayor Says
FBI Reports Dramatic Spike in Anti-Muslim Hate Violence
Energy Taxing Water Resources
"A new report says Georgia's power plants are stressing the state's water resources. Plants in Georgia remove up to 2.8 billion gallons a day."

And finally... Carrier Bush suffers widespread toilet outages
"The Navy's newest aircraft carrier has a messy problem. Since deploying in May, the Norfolk, Va.-based carrier George H.W. Bush has grappled with widespread toilet outages, at times rendering the entire ship without a single working head."




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