Monday, November 07, 2011


News Links, November 8, 2011

## Global economic meltdown ##
The Euro 'Event' Will Cause Depression: HSBC
Former Federal Reserve Economist Likely Next Prime Minister of Greece
Italy bond yields soar; euro zone troubles deepen
Is 7% the tipping point for Italy?
France forced to cut budget again as election looms
German economy splutters as output slumps
Only 15% Of European Companies Will End The Year In The Black
Euro-Kaput: 'Euro could be dead by end-November' (RT video)
European Banks Cutting Sovereign Bond Holdings Threatens to Worsen Crisis
History Suggests Greece Will Freeze Bank Deposits, Exit Euro by Christmas; Spain and Portugal to Follow Next Year (Mish)
Lone Star's Korea Exchange Bank Posts 63% Decline in Earnings
KT third-quarter net dips 41 percent
"South Korea's telecom titan KT Corp. said Monday that its third-quarter earnings dropped 41 percent from one year ago due mainly to currency loss and a decreased number of subscribers for mobile handsets and Internet services."
Hong Kong Likely Entered Recession in Q3: Daiwa
Asia-Pacific Office Rents Increase at Double the Global Pace
This is supposed to be a hopeful sign, but it looks more like a bubble to me. -- RF
Spanish cemetery warns of evictions for nonpayment
Eurozone crisis: What it means for East and West
"Eurozone leaders have brought their begging bowl to China, looking for help in boosting their bailout fund. So what does this say about the shift in the global balance of power?"
But China is likewise doomed in the long run. The Chinese had better enjoy it while they can. -- RF
And You Thought the Real Estate Bust Was Over
"This week all eyes are on Greece and Italy, which is reasonable since they're likely to be pretty entertaining. But as incredible as it sounds, PIIGS country sovereign debt might not even be the biggest banking-system threat on the immediate horizon. It turns out that the largest European banks have held onto — and apparently failed to mark down — a mountain of crappy paper from the housing bubble."

## Fault lines/flashpoints/military ##
Economic blockade: Manipur on brink of a breakdown (India)
"On day 99 of the economic blockade in Manipur, residents of the north eastern state say the state has turned into a 'lawless region, literally on the brink of a complete breakdown'."
Russia issues stark warning against attack on Iran
An imminent Israeli strike on Iran nuclear program? Not likely.
IAEA Poised to Release Iran 'Evidence' Centering Around Computer Simulations
Syrian declares Homs a 'humanitarian disaster zone'
"Syria's opposition has appealed for international intervention to protect the civilian population of Homs after more than 110 people were reportedly killed in the army's latest assault on city."
Israeli TV station facing closure unless political commentator removed from post
Ethnic violence 'systemic' in Kyrgyzstan
Russian Planes Spark NATO Scramble in Baltics

## Global unrest/mob rule/angry people ##
The rising risk of social unrest
"Over the past five years, the risk of unrest has risen the most in advanced economies"
Thousands protest at White House over pipeline
Russian police break up Occupy-style protest
Some small signs that the 'Arab Spring' is spreading into Africa
Crippling general strike in Israel limited to just four hours

## Energy/resources ##
Alternative energy: Despite prices plummeting, solar power sees little growth
EU Energy Grid Funding Must Double: Think-Tank
Engen hit by fuel shortages (South Africa)
"Engen confirmed there is an industry-wide fuel shortage with many service stations running on empty in Gauteng on Monday."
A New Nuclear Age: Thorium Powered Nuclear Plant to be Built in India
It's highly unlikely this will ever be built. -- RF
Restaurant Grease As Good As Gold To Biofuel Thieves (US)
Hyundai Heavy Temporarily Halts Some Solar Panel Production
Most Solar Makers Will Disappear: Trina CEO
"Most of the biggest solar equipment makers may disappear in the next few years as plunging prices erode margins and drive the weakest out of business, according to Trina Solar Ltd. (TSL), the fifth-largest supplier of solar panels."
The renewable energy industry is starting to crumble already. -- RF
Delayed oil industry projects must race to meet demand
Beyond Peak Oil (Ugo Bardi)

## Got food? ##
Environmental deterioration, the great threat to food supply: UNDP report

## Environment/health ##
Evacuations ordered as floods worsen in Bangkok

## Intelligence/security/internet/systemic breakdown ##
Feds Seek Unfettered GPS Surveillance Power as Location-Tracking Flourishes
Lawmakers: Counterfeit electronics flood Pentagon supply
"China is dumping counterfeit electronic parts into the Pentagon's supply chain, two senior lawmakers alleged on Monday, putting U.S. troops at risk and undercutting the American economy."
Darpa Begs Hackers: Secure Our Networks, End 'Season of Darkness'
Mossad, IDF Websites Online After 'Server Crash'

## Japan ##
Tepco Lists Fuel Needs To Make Up For Nuclear Loss
"Tokyo Electric Power Co on Friday projected it will consume a record 22.6 million tonnes of liquefied natural gas (LNG) in the financial year to next March, 3.14 million tonnes more than a year earlier, to make up for lost nuclear power output."
Jobless claims quadruple in disaster zone
Thai floods to hurt Japan food supply
"The massive floods in Thailand are expected to affect food supplies in Japan, which imports large quantities of chicken and shrimp, as well as food packaging materials, from the Southeast Asian country."
Automobile industry calls for major tax breaks
Toyota earnings to reflect production disruptions
600 kgs of rice stolen in Yamagata
Rice theft is actually nothing new in Japan. But higher prices are a new incentive. -- RF
Luxury goods selling well at department stores
The well-heeled are still spending, but for how long? -- RF

## China ##
Govt urged to open up crude oil import market
Housing Drop Threatens China Growth
"As much as 25% of the Chinese economy may be tied up in real estate and related industries, according to analysts."
China bolstering cyber defenses for modern-day warfare
Meanwhile "Global Bailout Fallback Plan B" China Is Pumping 1 Trillion RMB Into Its Banks
China Takes Advantage Of September Price Drop; Imports Record Amount Of Gold

## UK ##
British troops plan larger role in Helmand to cover US withdrawal
Scrap fuel duty rises, Chancellor told

## US ##
Cargoes to U.S. Drop for First Time Since '09 as Confidence Wanes: Freight
Crumbling Bridges' $140 Billion Tab Leaves Business Paying Price
Transmission-Line Project 'Essentially Out of Funds,' Energy Watchdog Says
If they can't even finish this, how are they going to build a continent-scale smart grid? -- RF
Banks Mum on Customer Switches
Credit unions report uptick in accounts on Bank Transfer day
Why Bank Transfer Day actually helped banks
Koch brothers: secretive billionaires to launch vast database with 2012 in mind
If Rome burns, U.S. will feel the heat
New data show grim picture of poverty
Downturn takes heaviest toll on younger Americans
INFOGRAPHIC: You Won't Believe How Much Your Commute Actually Costs You
Shift to Contract Work Hits State Workers
Buffett goes on $20 billion stock buying spree
Consumer Credit Rises As Uncle Sam Funds More Subprime Car And Student Loans; Revolving Credit Drops

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