Thursday, December 01, 2011


News Links, December 2, 2011

## Global economic meltdown ##
Weak Manufacturing in Euro Zone, China Darkens Global Outlook
Sarkozy calls for new European treaty as euro enters make-or-break week
Lagarde: G-20 May Boost IMF for Europe Crisis
ECB Hints at Action If Euro Zone Adopts Fiscal Pact
"The new head of the European Central Bank signaled on Thursday he was ready to take stronger action to fight Europe's debt crisis if political leaders agree next week on much tighter budget controls in the 17-nation euro zone."
As U.S., Europe Hack At Budgets, Pensions Get Sliced
Still Stressed - ECB Deposit Facility Usage Passes €300 Billion, Highest Since June 2010
Brazil Slashes Taxes to Protect 5% Growth From Spreading European Crisis
EU Bank Writedowns to Exclude Pre-2013 Debt; French Bond Yields Drop Most on Record; Italian Bond Yields Drop Below 7% (Mish)
"EU officials have hatched a plan to make banks and bondholders take losses for risks, not now of course, but after 2013. In the meantime, taxpayers will shoulder 100% of the losses for bank lending stupidity. On this confidence inspiring news, European bonds rallied sharply."
S&P downgrades hit bank funding, counterparty cost
Zimbabwe Bashes US Dollar, Alligns With Yuan
Mideast private equity feels chill of regional unrest
Life after the end of economic growth
Myanmar's new capital: a vast, empty city
Reminds one of China's ghost cities. Will ordinary people be able to live there? -- RF

## Fault lines/flashpoints/military ##
Bomb targets official in Pakistan's Peshawar: police
Enraged Pakistan says NATO attack threatens war on terror
"Pakistan, enraged by a NATO cross-border attack that killed 24 soldiers, could end support for the U.S.-led war on militancy if its sovereignty is violated again, the foreign minister said, adding 'enough is enough.'"
Furious at Latest U.S. Attack, Pakistan Shuts Down Resupply Routes to Afghanistan "Permanently"
Barak says no Israeli attack on Iran anytime soon
"Defense Minister Ehud Barak said Thursday an Israeli attack on Iran is not imminent but all options remain open to stop what Israel sees as an Iranian bid to develop nuclear weapons."
US uncertain Israel will alert it of Iran strike
EU countries call back ambassadors, threathen new sanctions against Iran after British embassy attack
Syria now in state of civil war, death toll at 4,000: U.N.
China, southeast Asian neighbors to patrol Golden Triangle
EU adds more sanctions against Iran
As EU tightens the screws, Iran looks toward China (includes video)
Yemeni forces in deadly clash with tribesmen
Russian arms in US backyard: Back in Cuba
Russia Delivers Missiles to Syria: Report

## Global unrest/mob rule/angry people ##
As Indonesia strikes it rich, workers start to strike
Greeks hold first major strike under new government
Defying Police Blockade, Boston's Occupy Builds a City
Boston Protesters May Remain Until Ruling
Occupy Harvard's an Exclusive Affair, But Not By Choice
Saudi Arabia accused of repression after Arab Spring
Angry farmers dump deadly cobras on tax office floor (India)
Saudi security forces withdraw from Shiite villages

## Energy/resources ##
Workforce Summit Discussess Industry 'Brain Drain'
The oil industry too faces a skills shortage. -- RF
Is Rossi's E-Cat Yesterday's News? Australian Company Claims to have a Working Fusion Reactor
Readers will recall that just yesterday we had an article which threw some ice water on the E-Cat. -- RF
Pentagon Preps Afghans for Trillion-Dollar Treasure Hunt
"The Pentagon wants the world to know: When the American military stops spending billions per week in Afghanistan and eventually goes home, the Afghan economy is gonna be totally fine. After all, they're sitting on trillions in mineral deposits, just waiting to be mined.
"Too bad many of the mines are in regions too dangerous or geographically treacherous for companies to set up camp. And it'll take at least a decade before the mines yield tangible goods, and the profits that accompany them."
Countdown to $100 Oil - High Energy Prices Suppressing Growth? (TOD)
Japan and Korea 'cooking on' Russian Gas
Bangladesh Power Plants Shut, Gas Rationing to CUFL
Texas Will Be Short On Power Next Summer, Grid Operator Predicts
Malawi Jet fuel shortage cripples airlines

## Got food? ##
Lingering joblessness taxes nation's food banks (US)

## Environment/health ##
Federal report: Arctic much worse since 2006

## Japan ##
All N-fuel may have fallen to outer vessel / TEPCO: Up to 68 tons likely melted in No. 1 reactor, eroding concrete of containment unit
Hashimoto's victory sets stage for nuclear power showdown with Kepco
Fukushima Pref. to ask TEPCO to shut N-reactors
TEPCO pulls plug on N-plant / Utility unable to secure funds due to huge compensation payouts
"Tokyo Electric Power Co. has decided to discontinue construction of the No. 1 reactor at its Higashidori nuclear power plant in Aomori Prefecture, as it cannot secure sufficient funds due to compensation payments it is making in connection with the crisis at the Fukushima No. 1 nuclear plant, sources have said."
Japan faces years of food contamination fears
Gov't calls on citizens, businesses to begin winter energy-saving measures
Japan Premier Boosts Spending to Counter Economic Uncertainty
Flat-TV Sales Tumble Record 90% In November
Toshiba to close 3 chip plants due to strong yen

## China ##
China Residential Property Prices Slip In November
Chinese manufacturing activity slows
"Weak performance underscores case for monetary stimulus as EU crisis weighs on world's second-largest economy."

## UK ##
Fuel poverty affects a quarter of UK's households as bills soar and pay freezes
"Inadequate heating contributes to 'excess' winter deaths, which are already running at 27,000 a year."
Warning to banks on eurozone crisis
"Bank of England Governor Sir Mervyn King today urged banks to brace themselves for a potential eurozone collapse amid fears that Britain is caught in a second credit crunch."
Cocaine found on 11% of UK banknotes
Public sector pensions talks will be damaged by pay squeeze, warn unions
PSNI to close 34 police stations in cost-cutting drive

## US ##
US Debt/GDP Hits Post WW2 High 99.5% Following $55 Billion Overnight Debt Increase: Total Debt Now Over $15.1 Trillion
Newt Gingrich Pledges To Build Double Fence Along Entire Mexico Border
Alabama Immigration Law Prompts Additional Training For 16,000 Police Officers
Indefinite Military Detention of U.S. Citizens Not Blocked By The Senate For The Second Time
Obama lawyers: Citizens targeted if at war with US
First-time jobless claims rise by 6,000
U.S. Jobless Claims Unexpectedly Rise
It wasn't unexpected to anyone paying attention. -- RF
Mass. AG hits big banks with foreclosure lawsuit
New Jersey Aid Holdup May Force Towns to Borrow to Pay Workers
About those car sales: GM Channel Stuffing Surges To All Time Record
Fed can't prop up BofA and other banks forever
Blue chips can't keep up the rally
Graduating from College? Hope You Learned How to Tend Bar

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