Thursday, December 15, 2011


News Links, December 16, 2011

## Global economic meltdown ##
IMF's Lagarde: Europe Crisis 'Escalating'
Eurozone crisis live: IMF's Lagarde warns of return to Great Depression
Germany Sees Its Financial Risks Growing With IMF's EU Role: FTD
French banker says UK should be downgraded first
China Manufacturing Contraction Continues Second Month; Japanese Manufacturing Sentiment Turns Negative; Asia Pacific Equities Sink
"All Asia-Pacific Equity indices are in the red tonight following more bad news from China and Japan."
Germany's Hidden Risk
"The Bundesbank has quietly lent half a trillion euros to the European Central Bank. Could that determine the fate of the euro?"
Lending shortage may turn Europe's car sales descent into a debacle
"Europeans plucky enough to ignore the crumbling economy and confident that their jobs are safe might find that a new car isn't possible because banks won't lend them any money."
Eurozone Industrial Output Declines For Second Month
Debt Crisis Pushes Economies to The Edge: Poll
U.S. Company Credit-Default Swaps Hold at Almost Two-Week High on Europe
Ontario's Rating Outlook Dropped to Negative
"Ontario's rating outlook was cut to negative from stable by Moody's Investors Service on concern Canada's most populous province faces a higher risk in meeting fiscal targets given a recent slowdown in economic growth."
David Stockman on the Coming European Train Wreck
Australian Banks Given One Week To Prepare For European "Meltdown"
The Fed's Intervention Didn't Solve Anything... It Just Pushed the Collapse Back a Few Weeks
Foreign banks borrow $54 billion through Fed

## Fault lines/flashpoints/military ##
Israel forms special ops command; experts eye Iran
CIA cover blown in latest spy-versus-spy with Iran
Riyadh and Tehran Hold Security Talks Amid Rising Tensions
'Tehran should be prevented from playing the Shiite card' (Arab News)
Iran to exploit power vacuum as US quits Iraq: analysts
How Much Influence Will Iran Have In Iraq?
Flags Burn as Last US Troops Trickle Out of Iraq
UN Secretary General Ban Ki-moon Calls for International Action on Syria
Arab League denies it plans to impose no-fly zone in Syria
Syrian troops 'ordered to shoot to kill'
China reaches out to Myanmar's Suu Kyi
North Korea's end heralds the real crisis
NATO 'knew' it was firing at Pakistan troops
"Pakistani officials say NATO forces even apologised to their officers throughout the deadly cross-border attack."

## Global unrest/mob rule/angry people ##
Protesters March Golden Bull To Capitol Hill, Pray For Higher Taxes At Boehner's Office
China's Wukan village stands up for land rights
Flash mob robbery caught on camera at Galleria area store

## Energy/resources ##
Trains halted as diesel ends for Railways (Pakistan)
Industrialists blast four-day gas outage (Pakistan)
Iran says Saudis agree not to up production to compensate if Iranian crude under sanctions
"Iran's oil minister said Wednesday that his Saudi counterpart had agreed not to up crude production to replace Iranian oil in case an international embargo on Iranian oil impacts Tehran's ability to sell its petroleum."
Asia frets over oil as US eyes new Iran sanctions
"Plans for fresh U.S. sanctions to isolate Tehran have sent shudders among Asian governments who fear they will have no way to pay for Iranian crude imports and face rising costs to fuel the region's growing economies."
High Japanese appetite to hit spot LNG supply
Persistent drought in Romania threatens Danube's power
"Drop in the level of the river's waters means that nuclear reactor may have to close down"
Nigerians face bleak Xmas as Egbin Thermal Station shuts down
Chile Copec: Santiago Airport's Jet-Fuel Supply Is 20% Short
Diesel runs dry in southern China gas stations - report
Bunker supplies tightening across South Korean ports
Freeze energy consumption levels (Korea)
"Alarm bells have gone off over the power supply this winter in the wake of two 950,000-kilowatt nuclear reactors malfunctioning simultaneously. This has caused the national power reserve ratio to fall to 8 percent. Considering that three other nuclear plants with a combined capacity of 2.7 million kilowatts have been stopped for maintenance, five of Korea`s 21 nuclear power plants have come to a standstill. A million kilowatt reactor resumed normal operations Thursday to help ease the situation. If the weather gets colder and power consumption increases, however, a major power crisis could occur."
Chile's bid to save energy: men, leave your ties at home
World appetite for coal over next 5 years to grow - IEA
Global metal, mineral shortage looms: PwC

## Got food? ##
SA's food price bombshell
Cassava disease hits East, food shortage looms (Uganda)

## Environment/health ##
Disaster Losses Hit Record Levels in 2011
Japan Tsunami: Flotsam Debris Reaches U.S. West Coast

## Intelligence/security/internet/systemic breakdown ##
Google's Brin calls SOPA censorship akin to China, Iran
Congress Authorizes Pentagon to Wage Internet War
U.S.-Funded Internet Liberation Project Finds Perfect Test Site: Occupy D.C.

## Japan ##
Japan Tankan Slides as Investment in China Drops on Global Slump: Economy
Japan, IAEA discussing large amount of unaccounted-for nuke materials
"Japan has started backstage talks with the International Atomic Energy Agency on the discovery of unaccounted-for or unreported enriched uranium and plutonium in large quantities of nuclear waste disposed of by Japanese facilities, hoping to ward off international criticism with an early report to the IAEA, senior government officials said Wednesday."
Fukushima radiation 47 times higher than combined 45 prefectures
Noda to hold news conference at 6 p.m. Friday to discuss nuclear plant shutdown
Gov't, business groups discuss raising retirement age to 65

## China ##
China Skids Towards Hard Landing; Hot Money Outflows Increase; Risk of Devastating Trade Wars Increases
China Export-Growth Officially Slowing: Trade Deficit Coming?
China's epic hangover begins
"China's credit bubble has finally popped. The property market is swinging wildly from boom to bust, the cautionary exhibit of a BRIC's dream that is at last coming down to earth with a thud."

## UK ##
Manufacturers set to cut production
"Factory bosses are preparing a cut in production in the new year after the eurozone crisis left exports at their weakest in two years, the CBI said today."
13,500 military personnel drafted in for London 2012 Olympics
Desperate British students 'turning to prostitution'
"Desperate British students, faced with rising costs on the back of government austerity measures, are turning to prostitution, gambling and other dangerous pursuits to fund their studies, support workers and student leaders said on Wednesday."
New figures cast doubt over Christmas high street shopping sales
Rail commuters face "double whammy" of fare and car parking charge rises

## US ##
As Gas Drilling Spreads, Towns Stand Ground Over Control
Bullet train's travel-time mandate adds to ballooning of costs (California)
Advocacy group gives water infrastructure a D-
Exclusive: Regulators know where MF Global funds went (Reuters)
Donations to Occupy Wall Street plummet
Rise Of The Beast System: 11 Ways That Amerika Is Becoming More Like North Korea
Morgan Stanley to Cut About 1,600 Jobs
Lawmakers scramble as government shutdown looms
Statewide Budget Cuts Force Ohio Town To Turn Off Street Lights To Save Money
"In the aftermath of the recession, states across the country have cut their budgets, in turn forcing cities and towns in those states to make their own drastic cuts. Different towns have made different decisions, with some closing libraries, un-paving roads, closing schools, and even attempting to decriminalize domestic violence, all in efforts to save money."
'Dismal' prospects: 1 in 2 Americans are now poor or low income
Study: Hunger stalks US cities as poverty rises
Equity mutual funds: Investors pull money out
"Equity mutual funds lost a net $16.1 billion in November. Foreign equity mutual funds lost $2.6 billion."
Here's A Major Reason Fitch Is Taking An Axe To Bank Ratings
New Foreclosure Wave is Coming
"Despite a seasonal slowdown in overall foreclosure activity, and a process still bogged down and backed up by the 'robo-signing' processing scandal, the U.S real estate market is about to be hit by another surge of bank repossessions, according to a new report from the online foreclosure sale site RealtyTrac."
Ceridian Fuel Index Shows Christmas Doesn't Come Early to the Trucking Industry
U.S. Industrial Production Unexpectedly Falls
Must Read: Presenting The MF Global Black Box: A Minute By Minute Breakdown Of The Doomed Broker's Last Week On Earth
Retirement Anxiety Spreads Among the One Percent
See How One Family Lives Well On $20,000 a Year

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