Friday, December 09, 2011


News Links, December 10, 2011

## Global economic meltdown ##
Europe pushes ahead with fiscal union, UK isolated
Max Keiser: Crazy Cameron suicidal with knife in Euro gunfight! (RT video)
Cameron Finally Tells Sarkozy Where to Go; New treaty Splits European Union; Extreme Legal Complications Already; Expect Discord to Rapidly Spread (Mish)
Moody's downgrades top three French banks
Citi: Euro Collapse Would Spark Global Depression, Push Unemployment Above 20%
Czech Inflation Rate Rises to 11-Month High as Food Prices Gain
China, Japan, S. Korea, see slower growth
Because growth is dead. -- RF
Risk of "really bad" Europe event growing (CNBC video)
Evolution Securities Warns Of "Total Carnage And Meltdown" As European Bank Sales Of CDS On European Sovereign Debt Soar
Monetary Flight; European CEOs Move Cash to Germany; Spanish Companies Expect Return to Peseta; Expect Capital Controls
Mexico's Inflation Surges, Above Forecasts
Wall Street's Response: The Summit Is A Failure
Dubai, state entities have $101.5bn debt pile
Dubai is just a pile of desert glitz pasted together with debt. It's one of the places I definitely would not want to be when TSHTF. -- RF
Like it or not, the euro is doomed (CNN Money)

## Fault lines/flashpoints/military ##
Pakistani Editorial Says Nuclear War with India "Inevitable" as Water Dispute Continues
NATO supply suspension continues for 13th day
Afghanistan: The Pressure is Now on Central Asian Supply Route
Israeli raids kill 4 Gazans; rockets fired at Israel
Risk of Israel/U.S. strike on Iran has tripled: Barclays Capital
Downed US Drone in Iran Reveals Broader Covert War
Obama administration debuts 'action plan' for U.S.-Canadian security cooperation
Inside Syria: lightly armed townsfolk take on tanks as army closes in
Syria crisis: Assad regime forces issue 72-hour deadline for end to protests in Homs
South Sudan Nhial Deng Nhial: We are on brink of war
Letter bomb explodes at tax collection office in Rome

## Global unrest/mob rule/angry people ##
China unrest spreads to bamboo furniture factory
"Hundreds of Chinese workers at a bankrupt furniture factory staged a mass rally on Thursday, facing off with riot police in the latest flare-up of industrial unrest."
Tear gas in the forest amid Italy rail protest
Occupy camp in Boston lives on past deadline
Protesters arrested in DC after K Street shutdown
Bahrain police fire tear gas at protesters
Russia braces for biggest protests of Putin era
JCS Chair Worries About Euro, Potential Unrest

## Energy/resources ##
Poor margins force Asia refiners to cut output
"Refineries in Asia are struggling with slumping profits from processing high-cost crude into oil products as demand for their exports fails to rise in winter, with at least two companies reducing output in December."
Faster migration to renewable sources can fill gaps in electricity generation
"Electricity generation in the GCC is straining fossil fuel reserves, shortening their duration and contributing to an already high CO2 footprint.
"In addition, using oil or gas as the primary source for domestic electricity consumption manifests a lost opportunity in monetizing the export of oil and gas and their derivatives."
Energy crisis deepens (Pakistan)
"There have been protests over electricity loadshedding, which never ended. Now people are coming out to protest gas load management. Even housewives have to come out to protest. They cannot send their children to school without breakfast."
Kenya: Power Fault Leads to Biting Fuel Shortage
"An electrical fault at a power line that serves the Mombasa - Nairobi pipeline is to blame for the current fuel shortage across the country."
House wives turn to charcoal amid LPG shortage (Kenya)
Blackout worries create uncertainty at Texas companies
Fears of pumps running dry in Cape (South Africa)
"A major fuel company says it has urgently diverted a fuel tanker on its way to Durban to Cape Town to alleviate a growing fuel shortage across the province and parts of SA."
Diesel in short supply (Nepal)
"Diesel shortage hit the market as Nepal Oil Corporation (NOC) amid soaring losses failed to make adequate payment to the Indian supplier for ensuring normal supplies."
Ukraine offers Montenegro assistance in electricity shortage problem, says Azarov

## Got food? ##
Food crisis looms (Ghana)
One Quarter of World's Agricultural Land 'Highly Degraded', UN Report Concludes
How global finance fuels a secretive and unethical land grab in Africa (The Ecologist)
Organic Farming 101: Farm Sitting for the Farmer-in-Training

## Intelligence/security/internet/systemic breakdown ##
When Things Fall Apart: Disorientation, Desperation, Chaos
Cloud Computing Stressing Aging Networking Infrastructures
Downed US drone: How Iran caught the 'beast'

## Japan ##
Toyota Motor halves profit forecast due to Thai floods
Japan Extends Tax Break to Aid Automakers
Govt Decides On Y150bn Cut In Automobile Tonnage Tax
Japan's Prime Minister Says Crippled Nuke Plant Will Be Stable By Year's End
Which is only the beginning. And not a moment should be lost in starting the cold shutdown of all the rest of the world's nuclear reactors, while grid power is still available. -- RF
Govt raises fund limit for TEPCO
Half of Fukushima examinees exposed to radiation above annual limit
Japan's parliament OKs nuclear accords with 4 countries
Tepco mulls 10% rate hike tied to '13 Niigata reactor restart
TEPCO shelves plan to dump radioactive water into sea

## China ##
China Nov power output growth slowest in 10 months
China's Property Investment Freeze (WSJ)
"Sales of residential property have stayed as frosty as the Beijing winter. The government has chased speculators out of the market, and falling prices have everyone else waiting on the sidelines. November data, released by the National Bureau of Statistics on Friday, showed sales volumes fell 3.3% year-to-year, after an 11.6% drop in October."
Chinese Real Estate in Early Stages of Bubble: Chanos
"The popping of the Chinese real estate bubble has just begun, with the nation likely to experience the types of problems the U.S. has encountered over the past five years, hedge fund titan Jim Chanos told CNBC."
China Nov crude steel output falls to 14-mth low

## UK ##
At northern U.K. nuclear facility, decades of dismantling work remain
Yet, few will learn any lessons from this. -- RF
Wind farm operator launches investigation into wind turbine blaze
Hurricane causes £100m blow to economy

## US ##
Gerald Celente: We're going into an economic 9/11 (RT video; must see)
About that jobs report...
More Broken Bridges than Golden Arches: U.S. Urban Infrastructure Infographic
Wow! America really is literally falling apart. -- RF
Unprecedented Boom Has Jobs Looking for People in North Dakota
Keep watching for the inevitable bust coming after they've burned through their capital. -- RF
Ford recalls 129,000 sedans; wheels may fall off
Symbolic of the economy as a whole. -- RF
The 12 Days Of Christmas? That'll Cost You A Record $101,119.84
--------------- Poverty Nation ----------------
Working Americans Get Smaller Slice of Pie
U.S. household wealth takes biggest hit since 2008
"At the same time, corporations increased their cash stockpiles to record levels."
Shocking Charts And Statistics That Prove That America Is No Longer A Wealthy Nation
Americans are poorer than they think
"Compared to the typical Japanese or European, the typical American is only half as rich. Half the people in the US have less than $53,000 net worth. You can imagine what the bottom 20% have."
To save money, families opt for cremation
Hungry, needy kids swell lunch lines
Delinquent mortgage squatting time sets new record
Report: California's middle class shrinks to below 50 percent
California officials vow to crack down on underground economy
Re-Invested Cash Explains This Week's $1B Muni Fund Inflow
Because growth is dead, muni bonds will inevitably crash and burn. Be warned. -- RF
Back to Basics: Indian Nation looks to the past to create healthier future
Slower payments hitting some construction firms

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