Wednesday, August 31, 2011
News Links, September 1, 2011
## Global economic meltdown ##
The Seneca Effect: why decline is faster than growth (The Oil Drum)
The Seneca Effect: why decline is faster than growth (The Oil Drum)
"With oil production peaking or set to peak soon, it is hard to think that we are going to see a gentle downward slope of the economy. Rather, we may see a decline so fast that we can only call it 'collapse.'"
Asia Numbers Show Slowing Output
"Data from across Asia show the troubles in the West, and tighter money, are starting to be felt in the manufacturing economies of the East."
"Data from across Asia show the troubles in the West, and tighter money, are starting to be felt in the manufacturing economies of the East."
U.S. Government Merits a Junk Credit Rating (Bloomberg)
'Italy Is Burning and No One Is Putting It Out'
## Fault lines/flashpoints/military ##
Rising Biomass Demand Could Drive Land Grabs: Report
## Fault lines/flashpoints/military ##
Rising Biomass Demand Could Drive Land Grabs: Report
"The new space race is on. But in the view of one influential analyst, the race isn't worth the prize. Space 'is expensive to enter, hard to sustain assets in, contains no defensive ground, and — barring energy-intensive maneuvering – forces assets into predictable orbits.'"
NATO May Maintain Libya No-Fly Zone After War Ends
Sarkozy: Iranian Nuclear Bid Could Provoke Attack
Sarkozy: Iranian Nuclear Bid Could Provoke Attack
Kurdistan One of Last Onshore Oil Prospects: CEO
Earthquake and Hurricane Irene Impact U.S. Nuclear Power Industry
Earthquake and Hurricane Irene Impact U.S. Nuclear Power Industry
U.S. losing clean-energy race? Solar maker Solyndra bankrupt
The Middle Kingdom meets the Middle East
The Middle Kingdom meets the Middle East
"China's effort to secure energy resources in the Middle East is going into overdrive as its dependence on the region's oil increases."
## Infrastructure scavenging ##
Law enforcement agencies report rise in metal-related theft
## Got food? ##
U.S. Farm Income Tops $100 Billion For First Time In 2011
"Volatile energy prices will make their way to the bottom-line of U.S. farmers with total expenses forecast to increase by $32.5 billion in 2011, exceeding $300 billion for the first time, USDA said. Overall, electricity and petroleum and oil inputs will increase by $3.3 billion to $21.1 billion."
Corn, Wheat Head for Second Monthly Advance as Dry Weather May Curb Crops
## Environment/health ##
Irene's Toxic Aftermath
## Environment/health ##
Irene's Toxic Aftermath
New Dual Hurricane & Tropical Storm Threats Going Into Labor Day Weekend
## Intelligence/security/internet/systemic breakdown ##
Court Ruling Could Make Lending, Selling Books Printed Overseas Illegal
## Intelligence/security/internet/systemic breakdown ##
Court Ruling Could Make Lending, Selling Books Printed Overseas Illegal
Bullying Law Puts New Jersey Schools on Spot
"Under a new state law in New Jersey, lunch-line bullies in the East Hanover schools can be reported to the police by their classmates this fall through anonymous tips to the Crimestoppers hot line."
China Shutters 6,600 Websites for Manipulating Information Online
"Under a new state law in New Jersey, lunch-line bullies in the East Hanover schools can be reported to the police by their classmates this fall through anonymous tips to the Crimestoppers hot line."
China Shutters 6,600 Websites for Manipulating Information Online
Russia considering unmanned space station
"Russia's space agency Roskosmos is considering ending a permanent human presence in space, an agency official said on Wednesday following last week's crash of a supply ship delivering precious cargo to the ISS."
"Russia's space agency Roskosmos is considering ending a permanent human presence in space, an agency official said on Wednesday following last week's crash of a supply ship delivering precious cargo to the ISS."
Fears of power shortfalls undimmed
"Despite the government's decision to lift the mandatory curb on electricity usage in areas served by Tokyo Electric Power Co. and Tohoku Electric Power Co., there are concerns the utilities, many of whose nuclear power reactors remain idle, will be unable to meet expected power demand this winter and beyond."
## China ##
Fitch Reiterates Warning on China's Banking System
Wen Says China to Focus on Taming Inflation
"Despite the government's decision to lift the mandatory curb on electricity usage in areas served by Tokyo Electric Power Co. and Tohoku Electric Power Co., there are concerns the utilities, many of whose nuclear power reactors remain idle, will be unable to meet expected power demand this winter and beyond."
## China ##
Fitch Reiterates Warning on China's Banking System
Wen Says China to Focus on Taming Inflation
CHART OF THE DAY: Bank Funding Costs Are Soaring
Subprime Mortgage Bonds Getting AAA Rating S&P Denies to U.S. Treasuries
Annual Inflation Hits 4%
Subprime Mortgage Bonds Getting AAA Rating S&P Denies to U.S. Treasuries
Annual Inflation Hits 4%
Medicaid's Half A Billion Dollar Hole
Salem County, New Jersey Nuclear Reactors Power Down From Irene Debris
Salem County, New Jersey Nuclear Reactors Power Down From Irene Debris
"Two of the three nuclear reactors in a southern New Jersey county have powered partway down because debris from Hurricane Irene is blocking cooling water intakes."
"Hurricane Irene appears destined to be one of the 10 costliest catastrophes in the nation's history, and much of the damage might not be covered by insurance because it was caused not by winds but by flooding."
"Political leaders encountered frustrated residents in the northeast Wednesday, angered by days without power, continued flooding and what they perceived to be a slow government response to Hurricane Irene's devastation."
Suspicious packages swamp law enforcement
"An unrelenting stream of suspicious package reports — and the need to investigate all potential threats in the post-9/11 world — is stretching federal and local law enforcement agencies in New York and Washington."
"An unrelenting stream of suspicious package reports — and the need to investigate all potential threats in the post-9/11 world — is stretching federal and local law enforcement agencies in New York and Washington."
"From financial crises to problems with the wars in Iraq and Afghanistan, Paul said, his warnings about a government that's too big and spending that's out of control have come true. It's other politicians, Paul said, who 'get in office and ... pursue global war mongering.'"
Economy will continue to decline (CNBC video)
Tuesday, August 30, 2011
News Links, August 31, 2011
## Global economic meltdown ##
IMF Slashes US GDP Forecast, Trims Euro Zone: Report
IMF Slashes US GDP Forecast, Trims Euro Zone: Report
"As bank deposits flow from Greece to Switzerland, the odds of another crisis flare-up in Europe look assured."
"We aim to achieve real autonomy from Italy and we have the financial resources to do it."
Piracy wave set to hit households in the GCC
"Higher insurance premiums charged by marine underwriters will inevitably raise shipping costs of essentials."
Spain moves closer to constitutional budget deficit cap
"Higher insurance premiums charged by marine underwriters will inevitably raise shipping costs of essentials."
Spain moves closer to constitutional budget deficit cap
A 20-rule manifesto for New No-Growth Economics: Classical economics is fatally flawed (Paul Farrell)
One of the few people to expose the fantasy of infinite growth. -- RF
## Fault lines/flashpoints/military ##
Israel mulls arming 'trained' settlers
"Army plans to provide tear gas and stun grenades in West Bank to repel any Palestinian protests next month, report says."
Israel mulls arming 'trained' settlers
"Army plans to provide tear gas and stun grenades in West Bank to repel any Palestinian protests next month, report says."
Iran Sends Sub, Warship on Red Sea Patrol: Navy
"Iran has dispatched a submarine and a warship to the Red Sea on a patrol mission, navy commander Adm. Habibollah Sayyari said in a report by state media on Aug. 30."
"Iran has dispatched a submarine and a warship to the Red Sea on a patrol mission, navy commander Adm. Habibollah Sayyari said in a report by state media on Aug. 30."
No power for chrome-smelting
"Lack of guaranteed and sufficient electricity supplies is limiting chrome mining companies in South Africa and Zimbabwe."
"Lack of guaranteed and sufficient electricity supplies is limiting chrome mining companies in South Africa and Zimbabwe."
A good energy reality check. -- RF
Fracking's water use draws attention, concerns
"The Marcellus Shale natural gas industry has a huge thirst for water - to hydraulically fracture a single gas well requires upward of a thousand tanker-trucks of water."
Exxon inks joint-venture for vast Russian Arctic fields
"The Marcellus Shale natural gas industry has a huge thirst for water - to hydraulically fracture a single gas well requires upward of a thousand tanker-trucks of water."
Exxon inks joint-venture for vast Russian Arctic fields
Exxon-Rosneft: Oil's new Cold War
Global LNG use to rise 12% in 2011 on Japan nuclear outage: Bernstein
China to Begin Serious Hunt for Shale Gas
Global LNG use to rise 12% in 2011 on Japan nuclear outage: Bernstein
China to Begin Serious Hunt for Shale Gas
Energy crisis badly affecting agriculture, industry (Pakistan)
## Got food? ##
Disruptions to Food Supply to 'Ratchet Up Prices,' Olam Says
Fruit and vegetables rot as hunger stalks India
## Got food? ##
Disruptions to Food Supply to 'Ratchet Up Prices,' Olam Says
Fruit and vegetables rot as hunger stalks India
## Environment/health ##
Survey Finds Radiation Over Wide Area in Japan
Survey Finds Radiation Over Wide Area in Japan
Japan's nuclear power to be at just 20% of capacity in early September
"Only 11 nuclear reactors will be operating in Japan with a combined power generation capacity of 9.864 GW in early September, which represents 20% of the country's total installed capacity of 48.96 GW spread over 54 reactors, according to Platts calculations Tuesday."
"Only 11 nuclear reactors will be operating in Japan with a combined power generation capacity of 9.864 GW in early September, which represents 20% of the country's total installed capacity of 48.96 GW spread over 54 reactors, according to Platts calculations Tuesday."
Gov't to lift power-saving decree earlier than planned
"Restrictions on power use in and around Tokyo will be lifted two weeks earlier than scheduled thanks to an improved supply and demand balance as the peak summer heat eases, the government said Tuesday."
"Restrictions on power use in and around Tokyo will be lifted two weeks earlier than scheduled thanks to an improved supply and demand balance as the peak summer heat eases, the government said Tuesday."
Aug 1-10 Trade Deficit Y354.5bn
"TOKYO (Dow Jones)--Japan posted a merchandise trade deficit of Y354.50 billion in the first 10 days of August, compared with the Y20.13 billion surplus in the year-earlier period, the finance ministry said Tuesday."
"TOKYO (Dow Jones)--Japan posted a merchandise trade deficit of Y354.50 billion in the first 10 days of August, compared with the Y20.13 billion surplus in the year-earlier period, the finance ministry said Tuesday."
Toyota, Honda Still Feeling Quake Impact In July
"Toyota Motor Corp. (7203) and Honda Motor Co. (7267) said Tuesday they were unable to recover to year-earlier domestic production levels in July as the effects of the parts shortage after the March 11 earthquake were still being felt."
Japan sells its gold while the rest of the world buys
"Toyota Motor Corp. (7203) and Honda Motor Co. (7267) said Tuesday they were unable to recover to year-earlier domestic production levels in July as the effects of the parts shortage after the March 11 earthquake were still being felt."
Japan sells its gold while the rest of the world buys
## China ##
Power shortages plague businesses
"Binchuan Metals Co has had weekly power blackouts this summer and uses 2,000 liters of diesel every month to fuel its own generators...
"The company, based in Dongguan, Guangdong province, is not alone. In fact, some areas in this manufacturing hub have been experiencing blackouts three days a week, according to the power supply bureau."
Power runs short in the south
"Five provinces in South China are experiencing the most severe electricity shortage in the past five years, leaving 10 percent of the region's demand for electricity unmet, according to China National Radio."
"Five provinces in South China are experiencing the most severe electricity shortage in the past five years, leaving 10 percent of the region's demand for electricity unmet, according to China National Radio."
Cut back on Sky and drinking, borrowers told
"Around 30,000 low-income homeowners will be told to cut spending on Sky TV, trips to the pub and mobile phone bills or face losing their houses when interest rates rise."
"Around 30,000 low-income homeowners will be told to cut spending on Sky TV, trips to the pub and mobile phone bills or face losing their houses when interest rates rise."
Riots: Sony warehouse raid ' was professional heist'
"One of the most dramatic looting and burning sprees during the London riots may have been orchestrated by a gang of professional robbers using the disorder as cover, it has emerged."
"One of the most dramatic looting and burning sprees during the London riots may have been orchestrated by a gang of professional robbers using the disorder as cover, it has emerged."
Stena Wales-Ireland fast ferry halted over fuel costs
Millions wiped from workers' pensions
"Falling stock markets and annuity rates have wiped millions of pounds off workers' pension funds."
Millions wiped from workers' pensions
"Falling stock markets and annuity rates have wiped millions of pounds off workers' pension funds."
## US ##
For many, being without power could last for a week
Bridgeport imposes curfew amid widespread blackout
Hurricane Irene flood damage stuns inland areas
Similarly, it's often claimed in Japan that rebuilding after the earthquake/tsunami will help get the economy back on its feet. But since no one has any money, any funds used for cleanup and rebuilding have to be taken away from something else. It's a lose-lose game. -- RF
Slide 22 can be seen in Japan right now, only written in Japanese. -- RF
And finally... The 15 Wackiest Things People Have Listed On Their Resumes
Monday, August 29, 2011
News Links, August 30, 2011
## Global economic meltdown ##
German Shortage of Engineers Threatens Porsche (Bloomberg video)
German Shortage of Engineers Threatens Porsche (Bloomberg video)
Just the other day there was a report that Mercedes-Benz that was threatened by the engineer shortage. The shortage is spreading and worsening. -- RF
"The financial minister of Poland, Jacek Rostowski, says Europe's economy could "collapse" if countries do not rally their support around the euro."
Italy Cuts Tax on High Earners From Austerity Package
Berlusconi Coalition Aims to Revamp Austerity Plan
Berlusconi Coalition Aims to Revamp Austerity Plan
"The conservative coalition of Italian Prime Minister Silvio Berlusconi announced plans to revamp the government's €45.5 billion ($65.4 billion) austerity package with proposals that slash layers of local government and require some Italians to delay retirement."
"As policy makers from the U.S. and Europe gathered in Jackson Hole, Wyo., to discuss ways to revive a fragile global recovery, China's central bank was issuing a secret memo to further rein in lending in the world's second-largest economy."
## Fault lines/flashpoints/military ##
Russia and China's Energy Dispute and the Struggle for Eurasian Dominance
Russia and China's Energy Dispute and the Struggle for Eurasian Dominance
Mission Accomplished in Libya? (Ron Paul)
"Gaddafi may well have been a tyrant, but as such he was no worse than many others that we support and count as allies. Disturbingly, we see a pattern of relatively secular leaders in the Arab world being targeted for regime change with the resulting power vacuum being filled by much more radical elements. Iraq, post-Saddam, is certainly far closer to Iran than before the US invasion. Will Libya be any different?"
## Global unrest/mob rule/angry people ##
Syrian tanks lay siege to town after soldiers defect from army
## Energy/resources ##
"China Petroleum & Chemical Corp. (386), Asia's biggest refiner, will collaborate with overseas companies to step up its search for shale gas resources as it seeks to diversify away from unprofitable crude processing."
"The solar-equipment industry is beginning a consolidation that's already its biggest in at least two years as plunging prices for photovoltaic systems force weaker companies to team with competitors or close shop."
IEA: Solar Energy Could Produce Majority Of World's Energy By 2060
It might. But the world will be running on far less energy in 2060. -- RF
It might. But the world will be running on far less energy in 2060. -- RF
## Infrastructure scavenging ##
Scrap Metal Thieves' Strangest Pursuits (slide show)
Scrap Metal Thieves' Strangest Pursuits (slide show)
## Got food? ##
Ranchers in drought-stricken southern Plains struggle to find, afford hay to feed their cattle
Rice May Rally 22% by Yearend as Thai Buying Elevates Costs, Curbs Exports
Ranchers in drought-stricken southern Plains struggle to find, afford hay to feed their cattle
Rice May Rally 22% by Yearend as Thai Buying Elevates Costs, Curbs Exports
Monsanto: Corn crop pain (CNN video)
"New research claims corn at several Iowa farms is being destroyed by a superbug that has adapted to Monsanto's genetically-modified seed."
"New research claims corn at several Iowa farms is being destroyed by a superbug that has adapted to Monsanto's genetically-modified seed."
## Environment/health ##
UN warns of bird flu resurgence
Fresh oil slicks forming over Deepwater Horizon spill site
## Intelligence/security/internet/systemic breakdown ##
Is Homeland Security spending paying off?
Analysts say online 'hacktivism' is becoming a preferred tool of protests
Russian Rocket Crash Could Soon Leave Space Station Empty
Analysts say online 'hacktivism' is becoming a preferred tool of protests
Russian Rocket Crash Could Soon Leave Space Station Empty
It was only a few years ago that politicians were boasting about how humanity will now have a permanent presence in space, with the ISS being the first stepping stone. Some will recall my prediction that the ISS will become an orbiting hulk without any people. -- RF
Kazakhstan considers monitoring internet cafe users
"Kazakhstan is considering imposing rules that will force internet cafes to monitor their customers use of the web, just as rights groups accuse the ex-Soviet state of excessive cyberspace censorship."
"Kazakhstan is considering imposing rules that will force internet cafes to monitor their customers use of the web, just as rights groups accuse the ex-Soviet state of excessive cyberspace censorship."
FCC: Post-Irene Wireless Outages May Get Worse (MarketWatch video; Interviewed expert recommends having a landline.)
## Japan ##
Noda Elected As New DPJ President
Noda Elected As New DPJ President
It doesn't matter who the prime minister is. Like the US and Europe, Japan is hopelessly mired in bloat, debt, and dysfunction. It's all downhill from here. -- RF
The Rising Mismatch In Chinese Credit Markets
Fire at Dalian oil refinery raises tensions in China
"A major Chinese petrochemical hub in the northwestern city of Dalian suffered its fifth major safety incident in just over a year on Monday, further ratcheting up tensions with environmental protesters."
Fire at Dalian oil refinery raises tensions in China
"A major Chinese petrochemical hub in the northwestern city of Dalian suffered its fifth major safety incident in just over a year on Monday, further ratcheting up tensions with environmental protesters."
"One thing China needs to keep its economy clicking is fuel -- lots and lots of fuel. And for China, that's becoming an increasingly dangerous problem."
## UK ##
School dinner costs warning issued
U.K. Company Confidence in Economy Plunges to Lowest Since 2009 Recession
"Six years after Hurricane Katrina slammed into the Gulf Coast, the New Orleans neighborhood that was hardest hit still looks like a ghost town."
The infinite-growth economy itself is a Ponzi scheme. -- RF
Sunday, August 28, 2011
News Links, August 29, 2011
## Global economic meltdown ##
"The signals that are coming out of the short-term discussions is, 'We can't even agree on about the time of the day, even if there's a big clock telling us what the time of the day is.'"
Encumbered by debt and systemic failure, governments and organizations at all levels are quickly becoming dysfunctional. Whatever they do seems to be ineffectual, or even makes things worse. -- RF
Euro bail-out in doubt as "hysteria" sweeps Germany
"German Chancellor Angela Merkel no longer has enough coalition votes in the Bundestag to secure backing for Europe's revamped rescue machinery, threatening a consitutional crisis in Germany and a fresh eruption of the euro debt saga."
"German Chancellor Angela Merkel no longer has enough coalition votes in the Bundestag to secure backing for Europe's revamped rescue machinery, threatening a consitutional crisis in Germany and a fresh eruption of the euro debt saga."
The debt bomb, net energy and ancient Greeks
High Debt Levels Poised to Stunt Growth
## Fault lines/flashpoints/military ##
Army fights defectors near Damascus: residents
High Debt Levels Poised to Stunt Growth
## Fault lines/flashpoints/military ##
Army fights defectors near Damascus: residents
Iran warns NATO against entering Syria "quagmire"
"Iran warned NATO on Sunday against any temptation to intervene in Syria, saying that rather than the defeating a regime it would be bogged down in a "quagmire" similar to Iraq or Afghanistan."
"Iran warned NATO on Sunday against any temptation to intervene in Syria, saying that rather than the defeating a regime it would be bogged down in a "quagmire" similar to Iraq or Afghanistan."
"U.S. and Israeli officials say there is fear a government breakup in Syria could lead to rogue groups armed with a variety of chemical weapons."
Afghan Suicide Attacks on the Rise, Along With Civilian Casualties
Israel, Lebanon and the Fight for Fossil Fuels
Israel, Lebanon and the Fight for Fossil Fuels
"Apocalypse is coming to Karachi."
Israeli activists squat empty Jerusalem buildings to protest over costly housing
"Social justice campaigners unveil 'People's House' in abandoned state-owned building and call for 'national squatting movement'"
"Social justice campaigners unveil 'People's House' in abandoned state-owned building and call for 'national squatting movement'"
Social protest demonstrators march for sixth consecutive week (Israel)
Western spy tools aid in crackdown on Arab dissent
Western spy tools aid in crackdown on Arab dissent
## Energy/resources ##
India urges price-control system in oil market
India urges price-control system in oil market
## Got food? ##
Urea shortage to imperil food security (Pakistan)
"The quagmire of the energy crisis continues to slowly damage the economy as decline in gas supplies is estimated to result in a record urea shortage of 1.2 million tonnes for the upcoming Rabi season, badly affecting the wheat cultivation."
## Environment/health ##
Cancer drug shortages getting worse, FDA says
## Intelligence/security/internet/systemic breakdown ##
Al-Qaida dealt 'major blow' as deputy leader killed in Pakistan
Please. -- RF
"About 400 cell towers were offline in North Carolina and Virgina, with power outages the chief reason. Another 200 towers were running on backup power by Saturday night and could go silent as their backup batteries or generators run dry."
Cesium in incinerator dust across East Japan
"High levels of cesium isotopes are cropping up in dust at 42 incineration plants in seven prefectures, including Chiba and Iwate, an Environment Ministry survey of the Kanto and Tohoku regions shows."
"High levels of cesium isotopes are cropping up in dust at 42 incineration plants in seven prefectures, including Chiba and Iwate, an Environment Ministry survey of the Kanto and Tohoku regions shows."
Japan Econ Minister: Fiscal Reconstruction May Take 30 Years
## China ##
Chinese Banks Report Outsized Profits
## China ##
Chinese Banks Report Outsized Profits
"China's growth model increasingly appears to have hit a ceiling, with few easy answers this time round."
## UK ##
One in five households sell a car to save money
Unilever CEO says riots are 'wake-up call'
## UK ##
One in five households sell a car to save money
Unilever CEO says riots are 'wake-up call'
## US ##
San Francisco Is Building A Net Around The Golden Gate Bridge To Stop People From Killing Themselves
Some flights resume in East, rail service halted
East Coast flood risk grows, death toll rises as Irene exits NYC
There Is Some Pretty Serious Flooding In Red Hook, Brooklyn
Irene leaves up to half of Rhode Island without power
Irene knocks out power to millions on East Coast
There Is Some Pretty Serious Flooding In Red Hook, Brooklyn
Irene leaves up to half of Rhode Island without power
Irene knocks out power to millions on East Coast
After Irene: Little Damage Seen in Many Places
"From North Carolina to Pennsylvania, Hurricane Irene appeared to have fallen short of the doomsday predictions. But with rivers still rising, and roads impassable because of high water and fallen trees, it could be days before the full extent of the damage is known."
"From North Carolina to Pennsylvania, Hurricane Irene appeared to have fallen short of the doomsday predictions. But with rivers still rising, and roads impassable because of high water and fallen trees, it could be days before the full extent of the damage is known."
Ron Paul: FEMA stands in way of recovery
"Republican presidential hopeful Rep. Ron Paul of Texas said the federal agency founded to deal with the aftermath of disasters is a disaster itself."
"Republican presidential hopeful Rep. Ron Paul of Texas said the federal agency founded to deal with the aftermath of disasters is a disaster itself."
Saturday, August 27, 2011
News Links, August 28, 2011
## Global economic meltdown ##
Capital Flight Proves Confidence in European Interbank System has Collapsed
Urgent Action Needed to Protect Recovery: IMF Chief
Urgent Action Needed to Protect Recovery: IMF Chief
## Fault lines/flashpoints/military ##
Militants from Afghanistan attack Pakistani posts
Militants from Afghanistan attack Pakistani posts
Military calls for boost in ocean surveillance
"Canada's military wants the Harper government to take part in rebuilding a Cold War ocean surveillance system, arguing that the country's waters, including the approaches to the Arctic, are vulnerable to Chinese and Russian submarines."
Successful Launch for Bulava Missile: Russia
## Global unrest/mob rule/angry people ##
India anti-graft activist to end fast after government
"A self-styled Gandhian activist whose campaign against corruption sparked some of India's biggest anti-government protests in decades will end a 13-day hunger strike Sunday after Prime Minister Manmohan Singh caved in to his demands."
"Canada's military wants the Harper government to take part in rebuilding a Cold War ocean surveillance system, arguing that the country's waters, including the approaches to the Arctic, are vulnerable to Chinese and Russian submarines."
Successful Launch for Bulava Missile: Russia
## Global unrest/mob rule/angry people ##
India anti-graft activist to end fast after government
"A self-styled Gandhian activist whose campaign against corruption sparked some of India's biggest anti-government protests in decades will end a 13-day hunger strike Sunday after Prime Minister Manmohan Singh caved in to his demands."
## Energy/resources ##
Ukraine Seeks Chinese Investment of $1 Billion for Coal Mines
Copper market deficit touches 80,000 tonnes
Copper market deficit touches 80,000 tonnes
Dubai street lights to be partly switched off
"Street lights in 55 residential areas in Dubai will be partly switched off at night in an effort to conserve energy and reduce carbondioxide emissions."
"Street lights in 55 residential areas in Dubai will be partly switched off at night in an effort to conserve energy and reduce carbondioxide emissions."
## Infrastructure scavenging ##
Copper Thieves Target Street Lights (Texas)
## Got food? ##
Finance Minister concerned as food inflation jumps to 9.8% (India)
Bangladesh: Floods cause severe food shortages
## Intelligence/security/internet/systemic breakdown ##
Smart Meters -- they know when you've been sleeping
Hot-spot cleanups hampered by public resistance to local disposal sites
## China ##
China puts squeeze on rising world of microbloggers
China pleads to Libya to protect Beijing oil interests
## China ##
China puts squeeze on rising world of microbloggers
China pleads to Libya to protect Beijing oil interests
Southwest drought inflicts water shortage on millions
## US ##
Hurricane Irene Causes Power Outages For Nearly 1 Million East Coast Customers
## US ##
Hurricane Irene Causes Power Outages For Nearly 1 Million East Coast Customers
Ron Paul Addresses Hurricane Irene, Says 'There's No Magic About' FEMA
Millions May Lose Power as Irene Carves Destructive Path
Millions May Lose Power as Irene Carves Destructive Path
Inequality dragon rears its head. Again.
"New GDP data suggests that inequality is on the rise again as corporate profits surpass prerecession high while compensation as share of economy is far lower."
"New GDP data suggests that inequality is on the rise again as corporate profits surpass prerecession high while compensation as share of economy is far lower."
Friday, August 26, 2011
News Links, August 27, 2011
## Global economic meltdown ##
The Kingdom of Magical Thinking (Foreign Policy)
"Widely assumed to be a fabulously wealthy welfare state, Saudi Arabia is in fact an economic basket case waiting to happen."
The Kingdom of Magical Thinking (Foreign Policy)
"Widely assumed to be a fabulously wealthy welfare state, Saudi Arabia is in fact an economic basket case waiting to happen."
"If you look at the accounting, I don't see how anyone could put a penny there."
This rate of growth is usually considered the minimum needed to service debt and keep the economy from stumbling. -- RF
OK, what have I been saying for ages? Every industry is having trouble finding enough people with the requisite skills. This is just one more factor dragging down industrial/technological civilization. -- RF
Finland Holds Europe Hostage
"Finland may destroy a Greek bailout deal, which demonstrates how one of the smallest nations in Europe can hold the region's financial health hostage. This opens the question once again whether the EU's structure is viable at all."
US Funds Show True State of Euro Zone Banks
"Finland may destroy a Greek bailout deal, which demonstrates how one of the smallest nations in Europe can hold the region's financial health hostage. This opens the question once again whether the EU's structure is viable at all."
US Funds Show True State of Euro Zone Banks
Russian c.bank to offer gold-backed loans at 7 pct
If You Thought August Was Bad, Just Wait Until September!
If You Thought August Was Bad, Just Wait Until September!
U.N. Agreement Should Have All Gun Owners Up In Arms (Forbes)
Japan's political turmoil a lever for China / Beijing again times aggressive play on Senkakus to coincide with power vacuum in Tokyo
Japan's political turmoil a lever for China / Beijing again times aggressive play on Senkakus to coincide with power vacuum in Tokyo
Deadly protests in Syria on last Ramadan Friday
## Energy/resources ##
Countdown to $100 oil- deja vu? (TOD; on the economic effects of expensive oil)
## Energy/resources ##
Countdown to $100 oil- deja vu? (TOD; on the economic effects of expensive oil)
"The stage seems set for a major price reset of markets, energy prices, currencies and property that brings with it the prospect of a major socio-economic upheaval."
## Infrastructure scavenging ##
BT taskforce tackles cable theft
"Copper theft is a growing problem for the communication network in Northern Ireland, BT has said."
Copper theft hits recreation centers in Macon, Ga.
"Copper thieves haven't spared Macon's recreation centers, causing the cancellation of some programs, high repair costs, and hothouse conditions for the public and city workers alike."
If you haven't started gardening yet, do it now. You won't be sorry. -- RF
In 2030 people will be amazed that they were ever worried about getting too many calories. -- RF
"Asian rice prices are likely to hold steady next month due to concerns over export availability despite bumper harvests in most producing countries, trading executives said Friday."
Oil in Gulf Matches Deepwater Horizon Well
"Scientists have confirmed that the oil rising to the surface near the site of the Deepwater Horizon well is a chemical match to the oil that flooded the Gulf after the oil spill last summer, known as MC252."
## Intelligence/security/internet/systemic breakdown ##
July attack on Japan police website originated in China
"More than 90 percent of attacks July 10 on the National Police Agency's website originated from Chinese Internet Protocol addresses and Beijing has been asked to investigate, the agency said Friday."
South Florida AT&T 3G network experiencing problems
"Scientists have confirmed that the oil rising to the surface near the site of the Deepwater Horizon well is a chemical match to the oil that flooded the Gulf after the oil spill last summer, known as MC252."
## Intelligence/security/internet/systemic breakdown ##
July attack on Japan police website originated in China
"More than 90 percent of attacks July 10 on the National Police Agency's website originated from Chinese Internet Protocol addresses and Beijing has been asked to investigate, the agency said Friday."
South Florida AT&T 3G network experiencing problems
## Japan ##
Even the traffic lights are still out. Reconstruction of this region is a pipe dream. -- RF
Japan's Shift to Solar Power Hinges on Banks Ending Loan Drought
Japan's Shift to Solar Power Hinges on Banks Ending Loan Drought
"The Japanese government on Friday unveiled a plan to reduce radiation levels in Fukushima prefecture by 50% in two years, amid residents' growing concerns about the public health impact of the accident at the Fukushima Daiichi nuclear plant."
Egad! A dearth of hits. What's this world coming to? -- RF
Heading into autumn, the situation looks better. But we'd better hope for a mild winter. -- RF
"Power outages: The electricity infrastructure 'will be greatly compromised for millions, if not tens of millions, of Americans,' The Weather Channel reports. Those outages could bring the economy nearly to a standstill."
"Amid growing reports of price-gouging for life-saving drugs, half of hospital officials said they've bought medications from back-door suppliers during recent drug shortages, a new survey shows."
"The Bureau of Economic Analysis said corporate profits jumped by $57.3 billion in the second quarter after climbing by $19 billion in the previous quarter."
Dick Cheney's dog banned from Camp David after attacking George Bush's terrier
Woman attacks cash machine with shoe (includes security video)
Thursday, August 25, 2011
News Links, August 26, 2011
## Global economic meltdown ##
Anwar Says Malaysia Needs To Brace for Global Slowdown
Anwar Says Malaysia Needs To Brace for Global Slowdown
"If we mark the assets of the European banks to market, the liabilities of the banks exceed the assets well beyond their capital cushion."
Greece forced to tap emergency fund
"Greece has been forced to activate an obscure emergency fund for its banks because they are running short of collateral that is acceptable to the European Central Bank (ECB)."
"Greece has been forced to activate an obscure emergency fund for its banks because they are running short of collateral that is acceptable to the European Central Bank (ECB)."
Gold "The World's Currency" (Mish)
"We're in very serious danger. The world is in a depression in the Big Three of America, Europe and Japan, a mini-depression that we have not seen since the 1930s."
"In use in other Defense Department aircraft for years, fly-by-wire now replaces the conventional manual flight controls in some Black Hawk helicopters with an electronic interface."
"History says Libya is not a good bet to become an oil superpower anytime soon. Three decades after the Iranian revolution in 1979, production there has yet to be completely restored. Iraq needed four years to equal its output before the 2003 U.S. invasion, and the ex-Soviet Union countries required as much as a decade."
Bad weather raises concern over future food prices
## Environment/health ##
Fracking could have caused East Coast earthquake (RT news)
## Environment/health ##
Fracking could have caused East Coast earthquake (RT news)
I predict that in 2030 there will be very few fat people. -- RF
## Intelligence/security/internet/systemic breakdown ##
Russian spacecraft falls from the sky. Is the International Space Station in trouble?
## Intelligence/security/internet/systemic breakdown ##
Russian spacecraft falls from the sky. Is the International Space Station in trouble?
## Japan ##
Aging Reactors Mean Japan Faces $13B in Costs
Japan faces costly, unprecedented radiation cleanup
"Nearly six months after the world's worst nuclear crisis in 25 years at the Fukushima nuclear plant, Japan faces the task of cleaning up a sprawling area of radioactivity that could cost tens of billions of dollars, and thousands may not be able to return home for years, if ever."
Japan faces costly, unprecedented radiation cleanup
"Nearly six months after the world's worst nuclear crisis in 25 years at the Fukushima nuclear plant, Japan faces the task of cleaning up a sprawling area of radioactivity that could cost tens of billions of dollars, and thousands may not be able to return home for years, if ever."
Offers To Govt Rice Reserves Program Fall Short Of Target
"TOKYO (Nikkei)--The government has accepted auction offers totaling 74,538 tons for this year's rice crop to go toward its national stockpile, a far cry from a new 200,000-ton target, according to Agriculture Ministry data released Thursday."
"TOKYO (Nikkei)--The government has accepted auction offers totaling 74,538 tons for this year's rice crop to go toward its national stockpile, a far cry from a new 200,000-ton target, according to Agriculture Ministry data released Thursday."
China gas-to-chemical firms shackled by supply, costs -paper
"BEIJING Aug 25 (Reuters) - Chemical firms using natural gas as feedstock in southwestern Chinese provinces were facing mounting risks to scale down and even close operations due to gas shortages and rising gas prices, an industry newspaper reported on Thursday."
## UK ##
Government backs down on plan to shut Twitter and Facebook in crises
"BEIJING Aug 25 (Reuters) - Chemical firms using natural gas as feedstock in southwestern Chinese provinces were facing mounting risks to scale down and even close operations due to gas shortages and rising gas prices, an industry newspaper reported on Thursday."
## UK ##
Government backs down on plan to shut Twitter and Facebook in crises
## US ##
Irene Threatens East Coast With $13.9B in Damage
Jobs Resignation Erases $52B From S&P 500
Squatter problem balloons in Detroit
Some Of Your Taxpayer Assets Will Be Sold Off To 'Vulture Funds,' In Case You Were Interested
Jobs Resignation Erases $52B From S&P 500
Squatter problem balloons in Detroit
Some Of Your Taxpayer Assets Will Be Sold Off To 'Vulture Funds,' In Case You Were Interested
In Case You Thought Bank Of America's Troubles Were Over...
Fears Grow That August Will Show Net Loss in Jobs Picture
Fears Grow That August Will Show Net Loss in Jobs Picture
"Despite meager interest rates 'consumers are very fearful about the economy, and are fleeing to the safety and security of insured and liquid deposits.'"
And finally... Qaddafi Had Stash of Condoleezza Rice Photos
