Sunday, November 06, 2011


News Links, November 7, 2011

## Global economic meltdown ##
Bundesbank: c'bank reserves will not help fund EFSF
"Germany on Saturday rejected media reports that Bundesbank reserves would be used to fund the euro zone's rescue facility after German newspapers said Group of 20 leaders had discussed the idea of tapping central banks."
In Act of Desperation, G20 Asks Germany to Pledge its Gold for EFSF Rescue Fund, Bundesbank Refuses; Grateful for the Arrogance
Markets abandoning hopes for lasting euro zone solution
"After another week of confusion and turmoil in Europe, investors are ditching whatever hopes they once had for a conclusive solution to the debt crisis."
Euro zone countries could split, says Goldman Sachs exec
Papandreou out as Greek leaders agree unity government deal
Swiss Central Bank Threatens More Action to Ward off Deflation; Swiss Real Estate Overheating; Don't Worry, It's Not a Bubble (It Just Looks Like One)
France to unveil new austerity steps
"The French government will on Monday announce its latest efforts to bring its finances under control, with a new package of tax increases expected to be unveiled."
Air Canada hit by forex, fuel prices
Crushing debt jeopardizes Quebec's welfare state
"Quebec's much-vaunted welfare and family programs are veering towards collapse under a crushing debt load that puts it in the company of financial basket cases like Greece and Italy, says a new study."
Just when people were thinking that everything is peachy in Canada. -- RF
Rising Food, Fuel Prices Slow Indian Economy
Challenges ahead as industry skills decline (Australia)
Kenyans turn to selling possessions as inflation bites

## Fault lines/flashpoints/military ##
Israel, U.S. to embark on largest joint exercise in allies' history
Force against Iran would be destabilizing: France
IAEA report on Iran set to raise Middle East tension
Far right on rise in Europe, says report
US warns of attacks on luxury Nigerian hotels after 150 killed
Violent weekend threatens Arab League deal with Syria
Pakistan Rebuts Report on Movement of Nukes
Guatemala's bloody battle with Mexican drug cartels

## Global unrest/mob rule/angry people ##
Kerala faces motor strike over fuel price hike (India)
"Another round of fuel price hike announced by the federal government in Delhi has had immediate repercussion in Kerala, with Left organisations calling for a motor vehicle strike today."
Israel strike to shut airports, economy on Monday
"Israel's main labor union plans a strike that would shut airports, ports, banks and the stock market starting on Monday after talks with the government failed to produce an agreement over the status of workers employed through labor contractors."
Occupy Atlanta plans 2nd attempt to camp at park
Police Arrest More Occupy Atlanta Protesters
Jesse Jackson and Occupy Atlanta take over bank

## Energy/resources ##
Petrol price hike rollback likely as parties protest (India)
This is a damned-if-you-do, damned-if-you-don't situation. Energy prices must go up, but that will induce protests and riots. And did I mention food inflation? -- RF
Time to Worry: World Oil Production Finishes Six Years of No Growth
ASPO-USA Conference Report: Friday Notes
"An overlooked point regarding Energy Return On Energy Invested (EROEI) is that it will take more energy (also more man-power) to create that energy and that the energy invested needs to be subtracted from what is produced. E.g. 6 mbpd of oil sands oil is not worth as much as 6 mbpd of light sweet Saudi crude, because substantially more of that 6 mbpd oil sands oil had to be reinvested in keeping production going."
Tenaga faces cash shortage (Malaysia)
Gas shortage hits Zimbabwe

## Infrastructure scavenging ##
Thieves strike again as price of metal continues to soar (UK)
Thieves attempt to steal Ronald Reagan statue in Newport Beach

## Got food? ##
Scoop on rising food costs, farmers weigh in at livestock expo

## Environment/health ##
Thailand's black flood waters march on as death toll surges past 500
Thailand Floodwaters Threaten Second Honda Factory, Inner-Bangkok Industry

## Intelligence/security/internet/systemic breakdown ##
Chinese Cyber-Espionage Growing: U.S. Report

## Japan ##
High Level of Radiation at Fukushima Station
Japan coast guard arrests captain of Chinese fishing boat
Japan dives into South China Sea flap with China
¥900 billion OK'd as initial Tepco compensation fund
Farmland conversion up after disaster
Farmland destruction has always been a primary means of "development" in Japan. Even with a global food crisis staring them in the face, Japan's leaders can't see their folly. -- RF

## China ##
China Credit Squeeze Prompting Suicides Along With Offer to Sever a Finger
China Money Rate Drops Most in Three Weeks on Cash Injection
Chinese cities fret as land sales fall
A Quick Reminder About China...
China's vanishing factory bosses

## UK ##
UK could give £40bn to the IMF, Danny Alexander says
Some unions hell-bent on strikes, Danny Alexander says

## US ##
Hit With Big Withdrawals, Fed Sells Assets, Borrows Cash
Oklahoma quake buckles highway, damages several homes
Putting extended families under 1 roof
Our present moment is an inflection point in the history of industrial civilization: The nuclear family has peaked, and we have begun the return to the extended family. -- RF
Student Loans: The Next Bubble?
One Year of Prison Costs More Than One Year at Princeton
Is the economy that bad? Six doggie bag stories.
$4 Trillion Debt Deal Possible
"A 'bold' deficit-reduction deal worth $4 trillion is possible, say two influential lawmakers, one a Democrat the other a Republican, who expressed willingness to compromise over their previous positions on taxes and spending."
Officials Outline Pentagon's Support to Industrial Base
'Friendly fire' also can kill the truth

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