Tuesday, November 29, 2011


News Links, November 30, 2011

## Global economic meltdown ##
Europe struggles with rescue fund, may turn to IMF
"Euro zone ministers struggled to ramp up the firepower of their rescue fund and raised the possibility of asking the IMF for more help on Tuesday after Italy's borrowing costs hit a euro lifetime high of nearly 8 percent."
Europe Has Three Choices, Including Collapse: El-Erian
ECB Must Act or It Is 'Game Over': Economist
As Final EFSF Details Emerge, German FinMin Says Bail Out Fund Won't Halt Crisis
Italy's bond rates spike as Mario Monti fills government
Hungary dug itself a debt hole, now it pays the piper
20,000 Greek civil servants put on standby
Modern Greeks Return To Ancient System Of Barter
Spanish Retail Sales Drop
"Spain's retail sales fell at their fastest pace in four months in October, the country's national statistics agency INE said Tuesday, the latest indication of a likely late-year contraction in the euro zone's fourth-largest economy."
In euro zone crisis, companies plan for the unthinkable
CRAMER: 'We Are In DEFCON 3, Two Stages Away From A Financial Collapse So Huge It's Hard To Get Your Mind Around'
Crisis in Europe Tightens Credit Across the Globe
South Korean Output Grows at the Slowest Pace Since August on Europe Woes
Armageddon Delayed; All Quiet on the European Bond Front; Italy and Spain Bond Schedule through 2021; Belief in Fairy Tales
"European bonds had a good day today. A good day is when nothing blows up."
Eurozone Being Swallowed by Expanding Debt Black Holes, Mega Bond Market Profits and Default Booms
"UK and Japanese government bonds are grossly over valued and on the precipice of moves resulting in sharply higher interest rates (yields)."
Three to 4% yields for the UK and Japan will wipe them out. -- RF
Standard And Poors Reviews 37 Global Banks, Downgrades Bulk

## Fault lines/flashpoints/military ##
China's first aircraft carrier starts second trial
International banks have aided Mexican drug gangs
Rockets fired from Lebanon hit Israel: army
"Several rockets fired from Lebanon hit northern Israel on Tuesday, and the Jewish state returned fire across the border in response, military officials said."
Gangs from Africa, Iran muscle in on South East Asia drugs: U.N.
"International drug gangs from Africa and Iran are muscling in on Southeast Asia's booming methamphetamine business which has shown a staggering increase and is spreading through the region, the United Nations said in a report on Tuesday."
Pakistan says to boycott major Afghanistan meeting
Iranian protesters enter UK compound in Tehran
Russia activates missile early warning radar system
Germany now major Mideast arms supplier
US, Kyrgyz officials participate in joint exercise

## Global unrest/mob rule/angry people ##
Ukrainian Pensioners Attack Donetsk Governor's Office
Occupy the Capitol: The Next Stage in the Occupy Movement
Trade Unions say no to Austerity With Actions Across Europe 30 November
Occupy's new tactic on the West Coast: Squatting
Occupy Philly Avoids Eviction, Police Brutality—for Now
Occupy LA Sues Mayor to Prevent Eviction
Saudi urges its citizens to leave unrest-hit Syria
Further Bahrain Unrest Would Be Saudi Arabia's Worst Nightmare
Manufacturing Slowdowns at Chinese Factories Result in Strikes

## Energy/resources ##
Barclays: UK's oil production hits below 1 mb/d in September
Water shortage is national disaster: church (Zimbabwe)
Korea braces for electricity shortage
South Korea joins Japan to save electricity in winter
"South Korea's capital is going dark this winter to avert a possible power supply shortage.
"The government has decided to ban lighting neon signs during peak hours for electricity use and will operate fewer subways in the Seoul metropolitan area to head off blackouts."
'Indian oil demand at a record high in Oct y/y'
A Reality Check on Oil Supply for Newt Gingrich (TOD)
The willful ignorance of politicians about energy is nothing new, but Gingrich has made an absolutely astonishing claim. -- RF
Fuel, power generation companies in deep water (India)
"Power managers failed to ease power shortage in the country because of non-payment of accumulated amount of Rs 367.977 billion to fuel and power generation companies."
Pindi Railway division runs out of diesel (Pakistan)
Pimco's 4 "Iran Invasion" Oil Price Scenarios: From $140 To "Doomsday"
Is Thorium the Energy Panacea We Have Been Waiting For?
No. Just like conventional nuclear power, this would be dependent on the fossil fuel-powered industrial infrastructure, which is already crumbling. -- RF
China oil majors' refining losses draw media skepticism
Ameren casts dark cloud over cleaner coal plant
Tight Oil Inventories Support Record Prices

## Got food? ##
70% more food needed to feed the world by 2050
Peanut butter prices going up
"Peanut butter is disappearing from some food bank shelves, particularly in the Midwest, as peanut butter manufacturers raise their wholesale prices by 20 percent to 40 percent."
Dry, Warm Autumn Brings Risks For W.Europe Grains

## Environment/health ##
Drivers stuck after rain causes flooding in Scotland

## Intelligence/security/internet/systemic breakdown ##
Must read: 96 hours to the stone age: How quickly our connected lives crumble when the power goes out
Fears Budapest public transport system facing imminent collapse
Check-in system meltdown: Qantas issues handwritten boarding passes
United Nations agency 'hacking attack' investigated
Cisco: Cloud traffic fast approaching the zettabyte era
IL water system pump failure not cyber attack
Hackers Briefly Take Down Portuguese Parliament Website

## Japan ##
Bond Yields Advance to Highest in a Month on Debt Concerns: Japan Credit
"The nation's public borrowing will exceed 1 quadrillion yen in the year through March as the nation pays for reconstruction from a record earthquake."
Kansai Electric says reinforcing Fukui nuclear facilities will cost Y200 bil
The bill for nuclear power just keeps ballooning. -- RF
High cesium level found in Date rice
Radioactive rice reaches public; more shipments suspended

## China ##
Power price hike in China imminent
Diesel restocking takes China oil demand to five-month high
China to Embrace Fracking In an Effort to Ramp up Energy Production

## UK ##
Heathrow and Gatwick braced for queues as border staff strike
Osborne confirms pay and jobs pain as growth slows
Public sector job losses to hit 600,000 by 2016
Borrowing up by an extra £111bn
"The Government is set to borrow £111 billion more over the next five years than previously expected, according to forecasts by the independent tax and spending watchdog, as the UK moves to the brink of a double-dip recession."

## US ##
American Airlines files for bankruptcy
Is Bankruptcy 'Business As Usual' For Airlines?
Airlines keep edging toward oblivion. Soon, only the rich will fly. -- RF
Western states see comeback of cattle rustling
Senators Demand the Military Lock Up American Citizens in a "Battlefield" They Define as Being Right Outside Your Window (ACLU)
30 Signs That The United States Of America Is Being Turned Into A Giant Prison
Hard Times Generation: Families living in cars
Kansas City seen as hub for drug traffickers from Mexico
Computers as furnaces?
This has no future because grid failure is inevitable. -- RF
The Federal Reserve Did Everything In Its Power To Save Banks And Nothing To Save Jobs
99 Percenters Hurt More By Austerity Measures Than The 1 Percent: Study
New Rules of Supply and Demand: Sacrificing Inventory To Save the Store
Retirement Preparation in U.S. Reaching Crisis Levels: Small-Business Survey
I have repeatedly said that retirement will be for rich elites only. -- RF
Hank Paulson And The Wall Street/Washington Axis Of Power
Emergency Manager Appointed to Take Control of Finances in Flint, Michigan
BofA, Goldman, Citi Credit Ratings Reduced by S&P
Dallas Fed Manufacturing Survey shows contraction in November

And finally... Empire State Building planning IPO
Get in on the ground floor!... so to speak. -- RF

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