Saturday, November 26, 2011


News Links, November 27, 2011

## Global economic meltdown ##
Euro Zone Weighs Plan to Speed Fiscal Integration (WSJ)
Belgium's credit rating cut as Italian bond rates soar
Belgium Agrees 2012 Budget After Rating Cut
In Fiery Protest Against Fractional Reserve Lending, Disgruntled Ex-Employee of Chairman of Rural Bank of New Zealand Sets Car on Fire in Mall (Mish)
Fractional reserve lending — like compound interest, fiat currency, and ever-expanding debt — is a tool used to prop up the infinite-growth paradigm. Fraud, fraud, fraud. -- RF
Will steel stocks continue to go under the hammer?
"The slowdown in demand from Western countries and China (which accounts for 40% of world steel consumption) threatens to take the steel industry back to 2008 levels."
A pessimistic assessment of the steel industry's recent situation and outlook. We recall what happened in 2008: many blast furnaces around the world shut down. -- RF
Daimler to Scrap Its Maybach Luxury Cars
Where have all the banksters gone? (video)
Entertaining analysis from Max Keiser. -- RF

## Fault lines/flashpoints/military ##
Pakistan accuses NATO of cross-border attack that kills at least 20 soldiers
Pakistan stops NATO supplies after deadly raid
Pakistan: US Must Vacate Suspected Drone Base
Iran says could target Turkey missile shield
"Iran could target installations in Turkey that are part of a planned NATO missile shield in any future conflict, a senior military official said on Saturday, upping the rhetoric against its neighbor with whom relations have soured in recent months."
Multiple Baghdad blasts kill at least 13 people
Chavez Price Caps Spark Panic Buying of Coffee, Toilet Paper
Just a preview of panic buying that will spread around the world. -- RF
Syria faces crippling sanctions as it defies Arab League deadline
EU Ban on Iranian Oil: Silly Idea
Iraq President Says U.S. Troops Needed for Training
War Games Spotlight China-Pakistan Hype

## Global unrest/mob rule/angry people ##
Occupy camps wind down across Canada
"What took nearly six weeks to build came down in a single morning as authorities moved in and dismantled two of Canada's last remaining Occupy camps."
After extending olive branch, Los Angeles posts eviction notice on Occupy LA camp
Mapuche Indians Clash with Chilean Police
Protesters try to halt nuclear waste train in Germany (BBC video)
General strike shuts down Portugal

## Energy/resources ##
Romanian mayor ends hunger strike over cuts
"Romanian mayor Florin Cazacu Saturday ended a six-day hunger strike over cuts in heating subsidies after the government handed his town extra funds for fuel oil."
Fossil Fuels Beaten by Renewables for First Time as Climate Talks Founder
If we can build a large cushion of renewable capacity, it will help mitigate the shock of collapse and aid the transition to a low-energy future. But we should not expect renewables (real-time solar energy) to replace fossil fuels (stored solar energy). On this problem, see also the following article. -- RF
The Scientific Challenges To Replacing Oil with Renewables
France still plans to build 60th nuclear reactor
"A 59th reactor is currently under construction in Flamanville in northwestern France in a project hit by delays and cost overruns."
Denmark aims for 100 pct renewable energy in 2050
72pc power hike in 5 months causing meltdown
"The business community and the manufacturers associations, while expressing grave concern over massive jumps in power tariff, have observed that more than 72 per cent hike in electricity rates in the last five months is the major cause of continuous economic meltdown in the country."

## Environment/health ##
Report: Millions of birds killed by power lines
Immunise or lose benefits, parents told (Australia)
"Parents who do not have their children fully immunised will be stripped of family tax benefits under a scheme announced by the Federal Government."
Flooding in east Australia traps hundreds in homes

## Intelligence/security/internet/systemic breakdown ##
Philippines say arrested hackers funded by Saudi group
New questions raised over Dominique Strauss-Kahn case
"Journalist's detailed study has unearthed fresh doubts over alleged assault in New York by ex-IMF chief"
Information overload wastes two weeks a year (UK)
"British workers have to sift through so many emails and electronic documents that they waste nearly two weeks a year searching for information they have previously read but then lost."

## Japan ##
No BoJ Action just a Survey
"The BoJ sent out a questionnaire to major banks asking whether they can help it intervene in the currency markets overseas."
Monju reactor may be axed: Hosono
It would be one of the most sensible things the government has done in a long time. -- RF
Kepco reactor halt leaves just 10 in service nationwide
Pension payments to follow deflation for second year
Deflation is a great excuse to make cuts that are inevitable, anyway. -- RF
More cesium in Fukushima rice
Cesium from Fukushima plant fell all over Japan

## China ##
Children of the Revolution
"China's 'princelings,' the offspring of the communist party elite, are embracing the trappings of wealth and privilege—raising uncomfortable questions for their elders."
>Gasp!< What would Chairman Mao say? -- RF

## UK ##
Prepare for riots in euro collapse, Foreign Office warns
"British embassies in the eurozone have been told to draw up plans to help British expats through the collapse of the single currency, amid new fears for Italy and Spain."
From schools to hospitals, strikes set to cause chaos
Troops to man airports during 'general strike'
Europe plan to 'green' public buildings to cost £50bn
"Taxpayers will have to pay billions of pounds a year equipping council houses, town halls, hospitals and other public buildings with the latest green technology, under new proposals by the European Commission."

## US ##
Lieberman Wants Google To Let Users Flag 'Terrorist Content' On Blogging Platform
No Year-End Stock Surge in Sight
The Plot Thickens: More On The Weekly $88 Billion "Other" Outflow
Help Wanted: In Unexpected Twist, Some Skilled Jobs Go Unfilled

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