Thursday, November 17, 2011


News Links, November 18, 2011

## Global economic meltdown ##
Singapore Oct exports worse than feared, electronics plunge
Singapore is one of the last places I'd want to be when TSHTF. -- RF
Euro Heads for Third Straight Weekly Drop as Sovereign Debt Crisis Spreads
A Look at the Troubling Trend in French Bond Yields
Spain's borrowing costs hit 14-year high
Official Denial Signals Spanish Bailout Imminent; Dreadful Result in Spanish Bond Auction, 6.975% Yield on 10-Year Debt; Merkel says "ECB Cannot Solve Euro Crisis"
Stocks and commodities get crushed as Europe goes to the brink
Construction spending slides in Europe
U.S. Airline Group Looks to Block Air India Funding
"Capitalism At A Tipping Point" (Forbes)
"Given the sovereign and bank crisis in Europe and the absolute need to institute severe fiscal cuts in the U.S. 'tipping point' is not such a great exaggeration as you might expect."
IMF Downgrades Portugal GDP Outlook to -3.0%; Barclays Capital Cites Downside Risks
The lamps are going out all over Europe
Video. A pithy and acerbic observation on the beginning of the end for Europe. -- RF
Watch Nigel Farage Dance On The Euro's Grave (video via Zero Hedge)
JPMorgan Joins Goldman Keeping Italy Derivatives Risk in Dark
Payback Time - The Coming Decade Of Deleveraging

## Fault lines/flashpoints/military ##
Nikolai Makarov, Russia Military Chief, Sees Rising Risk Of Nuclear Conflicts
US assures Philippines of 2nd warship amid South China Sea territorial disputes
"The United States will provide a second warship to the ill-equipped Philippine military as it confronts China in increasingly tense territorial disputes in the South China Sea, Defense Secretary Voltaire Gazmin said Thursday."
Armed Groups Are on Rise in Syria, as Are Civil War Fears
Russia stands by Assad as pressure mounts on Syria
Airstrike Against Iranian Nuclear Facilities Could Kill 100s of North Koreans and Russians
Saudi royal family split by Crown Prince appointment
"The tightly managed Saudi royal family has been split by the decision to appoint a hardline conservative as Crown Prince, with a senior prince resigning from its innermost council."
U.S. ties geopolitics to energy
Pakistan's US ambassador 'offers to resign'
"Hussain Haqqani denies asking for US help on behalf of Pakistan president to stop possible coup by army."

## Global unrest/mob rule/angry people ##
This Is What Revolution Looks Like (Chris Hedges; a good read)
"Welcome to the revolution. Our elites have exposed their hand. They have nothing to offer."
Anti-Wall Street protesters snarl Los Angeles freeway traffic
Occupy London protesters defy notice to leave St. Paul's
Occupy protesters take on NYC, march nationwide
Occupy the Skies! Protesters Could Use Spy Drones
Occupy Protest Signs (Gallery)
Occupy Wall Street: The Latest
Report: DHS Forces Spotted at 'Occupy' Crackdowns
Man sets himself on fire in Tiananmen Square
Clashes at Italy protest against "bankers' government"
Greeks protest as France, Spain face squeeze
Greek protesters clash with police at U.S. Embassy
Egypt opposition gather for mass anti-army "revolution"
"Egypt's Islamist and liberal opposition began gathering in Cairo's Tahrir square ahead of a mass rally on Friday to protest the military government's plans to change the constitution to shield the army from legislative scrutiny."

## Energy/resources ##
Dutch Fall Out Of Love With Windmills
"Faced with the need to cut its budget deficit, the Dutch government says offshore wind power is too expensive and that it cannot afford to subsidize the entire cost of 18 cents per kilowatt hour -- some 4.5 billion euros last year."
In country after country, energy decline and the crumbling Ponzi-scheme economy are dealing death blows to renewable energy. -- RF
Oil Back At $100: Higher Prices Here To Stay As Pipelines Ease Cushing Oversupply
Brazil to Join the Battle for Africa's Energy Riches
Decline in gas supplies makes power utilities reconsider plans (India)
Power producers in dark, but worst yet to come (India)
China Power Firms Face Worst Margins Since '06: Chart of the Day

## Got food? ##
Food shoplifting on the rise (Canada)
Your grocery bill is getting higher, and higher (US)

## Environment/health ##
IPCC expected to confirm link between climate change and extreme weather

## Intelligence/security/internet/systemic breakdown ##
Botched Mars mission shows Russian industry troubles
And the US space program is also going down the tubes. How long before the ISS is unmanned? -- RF

## Japan ##
Japan Restricts Fukushima Rice Shipments After Radiation Found
Cesium fallout widespread
More than half of Fukushima fallout ended up in sea: study
Resona Chairman Warns Over Japan Debt "Danger Zone"
IEA outlines Japan's low nuclear scenario
Nippon Steel to slow output as floods dilute demand
Anxieties grow about radiation costs / No clear criteria, answers from TEPCO have municipalities fearful for budgets
Translation: Nobody's got any money. -- RF

## China ##
Sorry Europe: China's Pockets Are...Empty
China Said to Warn Banks on Property, Loans
"China's new banking regulator warned lenders that some projects backed by local governments may run out of funds, and loans to property developers are likely to sour as sales slow, a person with knowledge of the matter said."
Entrepreneurial Wenzhou on Eve of Finance Crunch
China's Oct. Consumer Prices Rise 5.5% From Year Earlier
Google Maps Mystery Actually Spy Satellite Targets, Expert Says

## UK ##
U.K. Sells Northern Rock at a Loss
More workers back pension strikes
Exceptionally dry weather could lead to drought in 2012, say water companies

## US ##
The New Retirement Normal: The Average American Must Work For Two Extra Years After Death
Homebuilders Target In-Laws, Dogs as Extended Families Grow
The nuclear family, a product of industrial society, has peaked. Welcome, Grandma and Grandpa. -- RF
Report: Housing crisis has a long way to go
LME Warehouses in US Overloaded with Copper, Zinc, Aluminum, Steel because of Economic Downturn
Skilled worker shortage expected (Pennsylvania)
Daugaard says state needs more workers in skilled trades (South Dakota)
Welding, plumbing, and electrical work? Hey, those are vital skills for propping up industrial society! The disappearance of skilled workers and engineers is helping to drag industrial civilization into the dustbin of history even faster. -- RF
Nearly 1 in 3 U.S. children poor, Census says
Middle-class areas shrinking in US: study
Exclusive: Justice Department cuts recession deals with airlines
The airlines are on the ropes, and the government knows it. -- RF
Drone Gives Texas Law Enforcement Bird's-Eye View on Crime
U.S. boosts estimate of auto bailout losses to $23.6B
Using a credit card induces euphoria, new research shows
US elections 2012: Rick Perry event insists on US citizenship
"Prospective voters attending a public forum held by Governor Rick Perry of Texas, the Republican presidential candidate, in New Hampshire were asked to prove they were American citizens before being granted entry."
Americans Are Fat, And Expected To Get Much Fatter
I predict it will be the opposite. -- RF
U.S. Business Activity in Iraq Picks Up
IL Gets $1B Surprise as Obligations Jump
"Illinois will owe $1 billion more to its pension funds next fiscal year as smaller employee contributions kick in, according to projections released this week by state actuaries."
U.S. Company Credit Risk Jumps to One-Month High On Europe Debt Concerns

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