Monday, November 28, 2011


News Links, November 29, 2011

## Global economic meltdown ##
Moody's: Every European nation now at risk on debt
"Throwing more logs on the Eurozone fire, Moody's Investors Service said early Monday that the continent's debt crisis now is 'threatening the credit standing of all European sovereigns.'"
Equity Futures Ripping, Bond Market Still on Deathbed; Germany Allegedly Mulls Five-Nation "Elite Bonds"
Germany, France press for coercive euro zone debt rules
Why a German downgrade is the next logical step in the euro crisis
La Tribune Reports S&P May Put France On 'Negative' Outlook Within Ten Days
Belgium's borrowing rates up sharply in auctions
Morgan Stanley Cuts 2012 Global Growth Forecast Again
Because growth is dead. -- RF
Euro Zone in Mild Recession, US May Follow: OECD
Italy Set for a 'Sizeable' Cost Increase at 8 Billion-Euro Bond Auction
Rate Cuts Loom From Thailand to Philippines
"Asian central banks from Thailand to the Philippines may be preparing to cut interest rates in coming weeks as an escalating impact from Europe's debt crisis prompts economists to scale back growth forecasts for the region."
Wild Ride in 2-Year Italian Bonds; What's Changed? Nothing! Expect More Nonsensical Rumors
Trade Systems Brace for Euro-Zone Break-Up (Marketwatch video)
Thai floods drying up supply of tech goods
Thai flood supply chain losses could reach $20bn
"The majority of insurance losses from the Thai floods will come from manufacturing and supply chains and could reach $20bn according to AM best."
Striking Hypocrisy: Eurocrats live in bubble as people suffer debt (RT video)
India supply chain chaos next hurdle for global retailers

## Fault lines/flashpoints/military ##
China's Pacific Push Spurs U.S. Spending on Anti-Sub Warfare
Vietnam Boosts Presence in South China Sea, Targets Protests
Pakistan PM: No more "business as usual" with U.S.
"Pakistan's prime minister ruled out "business as usual" with the United States on Monday after a NATO attack killed 24 Pakistani soldiers and the army threatened to curtail cooperation over the war in Afghanistan."
Border closure seen as an inconvenience
Bomber hits Iraq military base, 11 dead: sources
Iran: explosion in Isfahan reported
"Widely conflicting reports emerge of apparent explosion in the north-east of Isfahan near where nuclear facilities are located"
Satellite Image Confirms Iranian Missile Base Was Destroyed
Violence on the rise in Baghdad as U.S. drawdown continues
Top four ways Congo's instability affects the world
What Crisis? U.S. Drones, Jets Still Fly Over Pakistan
It's a Drone's World. We Just Live in It
Gas pipeline from Egypt bombed
"For the ninth time since the Egyptian revolution, saboteurs attacked the natural gas pipeline in the Sinai Peninsula, the government said."
Russia To Send Warships to Syria in 2012: Report
"Russia will send a flotilla of warships led by its only aircraft carrier to its naval base in Syria for a port call next year amid tensions with the West over the Syrian crisis, a report said Nov. 28."
China aims to boost military links with Kuwait
The End? US to Spend $6.5 Billion in Iraq in 2012

## Global unrest/mob rule/angry people ##
Occupy Xmas (video)
A little holiday cheer from TPTB. -- RF
Police hold off on eviction of Los Angeles Occupy camp
"Police in riot gear closed in before dawn on Monday on anti-Wall Street activists in Los Angeles who defied a midnight deadline to vacate a camp outside City Hall, but stopped short of clearing the encampment."
Five arrested after deadline passes for Occupy LA
Syria sanctioned and condemned for "brutality"
"Syria faced growing economic sanctions and condemnation over "gross human rights violations" on Monday, but President Bashar al-Assad showed no sign of buckling under international pressure to end his military crackdown on popular unrest."
In Chile, Protesting Students Tweak Tweets to Win Global Support
Kuwait cabinet resigns amid growing opposition protests

## Energy/resources ##
Green energy could trigger 'catastrophic' blackouts
"Solar panels and wind turbines are a 'volatile' source of power with fluctuations in the electricity supply risking 'grid instabilities' and triggering wide-scale blackouts.
"Ageing infrastructure and increasingly cross-border electricity networks have heightened the likelihood of a devastating collapse of power supplies lasting months and covering several continents, according to the joint report by Allianz and the Chief Risk Officer Forum."
South Korea's Lee Myung-bak dons thermal pants to save power
It was nonsensical and arrogant in the first place to think we could discard our long johns. Soon national leaders around the world will be begging their citizens to conserve, whereas ironically they have always been begging us to consume. -- RF
Gas shortfall may cross 2bcfd mark (Pakistan)
Transformer industry fears crisis due to raw material shortage (India)
Crude flirts with $100 per barrel
JinkoSolar Slides Down
"It seems like players in the solar industry are going to face another earnings season where their profits could tank big time."
European Union Wants Post-Soviet Members Nuclear Reactors Permanently Offline
Commodity Prices Will Remain High and Volatile for the next 20 Years: McKinsey
Solar Stocks Target Prices Fall Sharply
Diesel Shortage Being Felt in Northern BC (Canada)

## Got food? ##
Climate change, extreme weather spike food prices
Hay Shortage In Arkansas
Land, water scarcity threaten food security: U.N.
Daikon radishes in the garden and in the kitchen

## Environment/health ##
Pollution from Industrial Facilities Costs Europe $229 Billion
Fukushima fallout: time to quit nuclear power altogether
"Because of soil contamination, one-eighth of Fukushima's soil can never be plowed again, and the consumption of crops grown on such plots is strictly forbidden. Many local companies have gone bankrupt, while 20,000 individual proprietors are on the brink of insolvency."

## Intelligence/security/internet/systemic breakdown ##
Smart meters trigger Wi-Fi blackout
Feds Seize 150 Domain Names in Counterfeit Crackdown

## Japan ##
Tepco Sells $2.4 Billion KDDI Stake to Raise Compensation Funds
BOJ Governor: Japan Faces Severe Situation
Is It Finally Japan's Turn?
"Swaption spreads are their highest in seven months - traders are paying more now to lock in cost of future JPY funds on the expectation of rising rates...and at the same time, the difference in prices for puts and calls in the FX option market are the most bearishly biased in over seven years."
Fukushima Daiichi nuclear plant director sick, says TEPCO
Nuclear insurance group won't renew Fukushima plant's liability insurance
Japan October Jobless Rate Jumps to 4.5%
The real unemployment rate is likely between 10 and 20%. -- RF

## China ##
Shenzhen sells debt in bond pilot scheme
Euro debt crisis hits Chinese exporters, says a survey
A Cold Winter Looms For China's Once Red Hot Property Market
"It's been a rocky month for China's real estate industry. In the first week of November, brokerages in the southern metropolis of Shenzhen have seen a 60% year on year drop in sales volume, while average home prices in Shanghai dropped to a 6 month low."
Chinese Profit Growth Slowing as Real-Estate Curbs Bite: Economy
Property Risks 'Overshadow' China Outlook: OECD

## UK ##
UK on the brink of double-dip recession, warns OECD
Bank governor Sir Mervyn King warns of hard times
Retailers facing gloomy Christmas

## US ##
U.S. Outlook Cut to Negative by Fitch After Committee Fails
Fed secretly handed out $8 trillion
80% Of Bond Managers Expect QE3 In 2012, Says JPMorgan
Congress to Vote Next Week on EXPLICITLY Creating a Police State
Cargo thefts rise during holiday weekends, especially over Thanksgiving
'Rags to riches' stories becoming less likely, Wells Fargo study shows
"Economic mobility - a family's ability to improve its financial situation - has slowed for America's lowest-paid workers since 1980, meaning it's getting harder to make "rags to riches" a reality, according to a recent report from Wells Fargo & Co."
Coincidentally (or not), it was in the 1980s that oil prices started to climb. -- RF
Cost to give '12 Days of Christmas' tops $100K
Waiting for midnight, hungry families on food stamps give Walmart 'enormous spike'
US Consumer Debt Falls In Third Quarter
Fewer New Homes Sales in U.S. Than Forecast
Average New House Price Drops To Lowest Since 2003
Shortfalls Add to California Economic Woes
"As California struggles with debt and fiscal discipline, flawed projections in anticipated government revenues are showing a current budget year shortfall of $810.5 million."
More than 1 in 5 Americans are economically insecure
Tight budgets boost house-sharing

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