Monday, November 21, 2011


News Links, November 22, 2011

## Global economic meltdown ##
Global economic outlook grim, China tells U.S. trade
UPDATED: Wall Street Analysts Everywhere Are In Agreement: THE WORLD IS ENDING
Credit Suisse Warns of 'Last Days' For the Euro
Insider Warns: Europe's Banking System Could End Up Shut for Days
Expect A Global Recession No Matters What Happens In The Euro Zone
No Relief for Europe's Bonds
"A selloff in euro-zone bonds continued on Monday, as investors shrugged off the election of a fiscally conservative government in Spain and continued to clamor for bold action by European policy makers...
"Monday brought fresh reports that some of Japan's big investment trusts are turning away from European government bonds. Kokusai Asset Management Co. said it has sold all the Spanish and Belgian government bonds held by its Global Sovereign Open fund, the largest investment trust in Japan. Other risk-averse Japanese investors are taking a similar approach. Mizuho Trust & Banking Co. removed Italian government bonds from its overseas sovereign fund targeting individual investors in September."
Spain's debt crisis worsens as country begins month of post-election limbo
Foreign Banks Double Deposits at Fed
Drugmakers' Returns on Research Fall as Pipeline Projects Fail
"The world's biggest drugmakers saw returns on their investments in new products decline 29 percent from last year as more experimental drugs failed at costly late stages of development."
Dubai real estate sales down 70% from peak
The New Price Era of Oil and Gold (Gregor Macdonald at Chris Martenson)
"In the old oil cycle, new supply of petroleum was brought online to capture rising prices. In the new oil cycle, declines from existing fields neutralize this new supply, for a net global supply gain of zero."
Tests Mount for Argentine Economy
Reality Check… Will S&P or Moody's Downgrade France First?

## Fault lines/flashpoints/military ##
Trucks carrying fuel for NATO torched in Pakistan
Western states step up sanctions on Iran
Jordan king to make rare West Bank visit Monday
Egypt cabinet resigns as protests intensify
Xinhua warns Philippines
Philippines Asks S. Korea For Military Hardware
"Philippine President Benigno Aquino asked his visiting counterpart from South Korea on Monday for aircraft, boats and other hardware to help boost his country's military, amid rising tensions with China."
Canada orders warships to stay in Mediterranean

## Global unrest/mob rule/angry people ##
No more US troops in Australia: protesters
Occupy Detroit supporters shut down 2nd Avenue bridge in Detroit
Egyptian police battle protesters, 33 dead
Battlefield Tampa: Police roll out a giant tank to deal with a few dozen Occupy protesters

## Energy/resources ##
EPA Rules Could Shut 13,000 Megawatts Of Midwest Coal Plants
"Proposed federal environmental regulations could shut about 13,000 megawatts of coal fired generation, boost power prices, threaten electric reliability and cost billions to retrofit or replace most of the region's existing coal fleet, according to U.S. power grid operator Midwest Independent System Operator (MISO)."
Load shedding, electricity price increases in Karachi (Pakistan)
"Karachi Electric Supply Company (KESC) has once again increased durations of load shedding in residential and commercial areas on the pretext of oil and gas shortage. It may be mentioned here that six to ten hours of load shedding being carried out in various city areas."
Israel - Major Natural Gas Producer? Not Yet
Kazakhstan Now World's Largest Uranium Miner
Applied Materials: Q4 PV manufacturing equipment sales revenues fall 44%, new orders fall 73% in quarterly results
Saudi oil minister says market 'balanced' at $100 oil
Australia's gas ambitions face major hurdles
"Australia has big ambitions when it comes to gas — whether liquefied natural gas or coal-seam gas — but analysts are warning of cost blowouts and delays across a multi-billion-dollar array of projects, as labor pressures and environmental backlash intensify."
Diesel shortage could last for weeks (Canada)
Diesel reserves down to one week (Mongolia)
Winter woes: Tempers soar as gas runs low in Rawalpindi (Pakistan)
Coal supply shortage may further trip industrial growth numbers (India)
Tennet hit by 'shortage of cash and cables'
"German electricity grid operator Tennet warned last week it might struggle to install further offshore connections to North Sea wind farms due to a shortage of cables and cash."
Water. Coal. Texas. Sanity. One of these words does not belong.

## Infrastructure scavenging ##
Rash of catalytic converter thefts hack off owners (US)
Soaring level of disruption on the rail network (UK)

## Got food? ##
Three Million Afghans face Hunger As Winter Looms: Aid Groups
WFP says more than 1 million Zimbabweans need food aid
Sahel grapples with food insecurity
Survival gardening for depressed economic times

## Environment/health ##
Is the 'caveman' lifestyle a healthy choice?
Many people will be finding out soon enough. -- RF

## Intelligence/security/internet/systemic breakdown ##
Water Utility Hacked: Are Our SCADA Systems at Risk?
Document Trove Exposes Surveillance Methods
"Documents obtained by The Wall Street Journal open a rare window into a new global market for the off-the-shelf surveillance technology that has arisen in the decade since the terrorist attacks of Sept. 11, 2001.
"The techniques described in the trove of 200-plus marketing documents, spanning 36 companies, include hacking tools that enable governments to break into people's computers and cellphones, and 'massive intercept' gear that can gather all Internet communications in a country. The papers were obtained from attendees of a secretive surveillance conference held near Washington, D.C., last month."
How Israeli Spies Were Betrayed By Their Cell Phones
Israel Shuts Down Radio Station for Criticizing Regime

## Japan ##
Japan's October exports down 3.7 percent
Global economic woes hit Singapore, Japan exports
JR Tokai To Pay For All Maglev Train Stations
Idiocy times 100. Of course the maglev line will never be built. -- RF
Iraqi prime minister makes pitch for oil, infrastructure investment
"Iraqi Prime Minister Nouri al-Maliki expressed hope Monday that Japanese corporations will invest in oil and infrastructure development in Iraq, playing down security concerns in the country."
Nikkei ends at lowest level since March 2009, Japan trade data weigh
WELFARE SYSTEM UNDER STRAIN / Working-age recipients need help
Radioactive cesium blankets 8% of Japan's land area
Vandals target metro subway lines nationwide

## China ##
China has debt woes of its own to worry about
China automakers see slower growth ahead
Toyota aims to sell more than 1 mil. cars in China in 2012

## UK ##
Hague Says UK Treasury "Quietly" Preparing For "Contingencies On Euro"
UK's debts 'biggest in the world'
With total debt of nearly 500% of GDP, the UK is tied with Japan. -- RF
Astraeus Airlines in administration
Navy frigate sent to Libya with four missiles
"The warship can carry 32 Seawolf and eight Harpoon missiles but it is understood that military cutbacks left the Westminster and its crew of 190 with only a fraction of that capability."
Treasury severs all ties between British and Iranian financial institutions

## US ##
A new crime on the rise in metro Detroit is turning abandoned homes into ticking time bombs
North Dakota oil boom causes rents to soar, forces seniors to leave beloved longtime homes
Neo-Nazi group adopts a Delaware roadway
IT'S OFFICIAL: Here's The Super Committee's Statement Admitting It Failed
The Supercommittee Was Designed To Fail (Forbes)
"Much like the European Community over the past few years, Congress' goal when it created this panel was not to resolve a fiscal mess, it was merely to buy time so it could avoid painfully tough choices."
Mission Accomplished: Nothing; Kerry Says No Problem "Lawmakers Have a Year"; Boehner's, Pelosi's "Moral Obligations" Fly Out the Window; McCain's Hypocrisy; Look for US Debt Downgrades (Mish)
MF Global Shortfall May Hit $1.2 Billion: Trustee
S&P 500 Posts Worst Losing Streak in 2 Months
Military Cuts Threaten Defense-Dependent States
Postmaster General: Plans to save us fall flat

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