Saturday, December 31, 2011
News Links, January 1, 2012
## Global economic meltdown ##
IMF: Greece will miss financial targets
IMF: Greece will miss financial targets
"The International Monetary Fund in an official report said Greece's financial situation is worse than previously thought."
Foreign Central Banks Cut Treasury Holdings by Record
"Holdings of U.S. Treasurys by foreign central banks has fallen by a record amount over the past four weeks according to the latest Federal Reserve data."
"Holdings of U.S. Treasurys by foreign central banks has fallen by a record amount over the past four weeks according to the latest Federal Reserve data."
PC Shortfall in 2012 Caused by HDD Shortages: IHS iSuppli
"The flooding in Thailand, which is causing shortages in HDD supplies, will mean 3.8 million fewer PCs shipping in the first-quarter 2012, IHS iSuppli analysts say."
"The flooding in Thailand, which is causing shortages in HDD supplies, will mean 3.8 million fewer PCs shipping in the first-quarter 2012, IHS iSuppli analysts say."
2011 exposed big holes in supply chain
"Two natural disasters demonstrated how vulnerable the computer industry is to the slings and arrows of outrageous fortune. Earlier in the year, the tsunami/earthquake in Japan disrupted multiple manufacturers, some of which are still trying to recover their operations. And floods in Thailand created a massive shortfall in hard drive production, the effects of which are still rippling through the PC supply chain."
"Two natural disasters demonstrated how vulnerable the computer industry is to the slings and arrows of outrageous fortune. Earlier in the year, the tsunami/earthquake in Japan disrupted multiple manufacturers, some of which are still trying to recover their operations. And floods in Thailand created a massive shortfall in hard drive production, the effects of which are still rippling through the PC supply chain."
## Fault lines/flashpoints/military ##
Unaccountable Killing Machines: The True Cost of U.S. Drones
"Sale is part of strategy to help friendly Mideast nations keep Iran in check"
US Civilians Are Now Helping Decide Who To Kill With Military Drones
Mossad Chief: Iranian Nuclear Weapon Wouldn't Be Existential Threat
Mossad Chief: Iranian Nuclear Weapon Wouldn't Be Existential Threat
## Global unrest/mob rule/angry people ##
Youth protesters, police clash across Bahrain
"Shi'ite youths chanting slogans against Bahrain's royal family clashed with riot police across the Gulf island kingdom Saturday, trying to block highways in a second day of protests, residents said."
Youth protesters, police clash across Bahrain
"Shi'ite youths chanting slogans against Bahrain's royal family clashed with riot police across the Gulf island kingdom Saturday, trying to block highways in a second day of protests, residents said."
Huge power shortages, load shedding in 2012: Shortfall of power generation could cross 4500MW (Pakistan)
The Taps Have Run Dry (Cameroon)
Germany's Wind Power Revolution in the Doldrums
"The construction of offshore wind parks in the North Sea has hit a snag with a vital link to the onshore power grid hopelessly behind schedule. The delays have some reconsidering the ability of wind power to propel Germany into the post-nuclear era."
Germany's Wind Power Revolution in the Doldrums
"The construction of offshore wind parks in the North Sea has hit a snag with a vital link to the onshore power grid hopelessly behind schedule. The delays have some reconsidering the ability of wind power to propel Germany into the post-nuclear era."
## Infrastructure scavenging ##
Copper thieves darken streetlights, create road hazards
"Nighttime stretches of road across the USA are being left dark by the theft of copper wiring from streetlights, and police are investigating whether the darkness contributed to some crashes.
"Copper thieves also are hitting traffic lights. The problem is particularly acute for localities where the sour economy has already left coffers bare and officials cannot afford to replace the wiring."
## Got food? ##
State may face food shortage next year (Odisha, India)
Organic Milk: Rising Production Costs Cause Shortage (US)
Organic Milk: Rising Production Costs Cause Shortage (US)
"The main reason for the shortage is that the cost of organic grain and hay to feed cows has gone up dramatically while the price that farmers received for their milk has not."
Food Safety Disasters 2011: The Deadliest And Strangest Outbreaks Of The Year
Monsanto GMO Seeds Use to Further Expand Within US
Monsanto GMO Seeds Use to Further Expand Within US
## Environment/health ##
Norovirus outbreaks rise (UK)
Norovirus outbreaks rise (UK)
Man dies of bird flu in southern China
## Intelligence/security/internet/systemic breakdown ##
U.S. court upholds telecom immunity for surveillance
## Intelligence/security/internet/systemic breakdown ##
U.S. court upholds telecom immunity for surveillance
SOPA opponents may go nuclear and other 2012 predictions
Crackpot Anti-Islam Activists, 'Serial Fabricators,' and the Tale of Iran and 9/11 (Gareth Porter)
Crackpot Anti-Islam Activists, 'Serial Fabricators,' and the Tale of Iran and 9/11 (Gareth Porter)
"Behind a mysterious Dec. 22 Associated Press story about 'finding of fact' by a district judge in Manhattan Friday that Iran assisted al-Qaeda in the planning of the 9/11 attacks is a tapestry of recycled fabrications and distortions of fact from a bizarre cast of characters."
If you can't beat 'em, join 'em. -- RF
China to Make Yuan More Convertible: Central Banker
"China is not far from making the yuan convertible under the capital account, central bank governor Zhou Xiaochuan was quoted as saying on Saturday in an interview with a local magazine."
Global economic crisis hits China's exporters
"China is not far from making the yuan convertible under the capital account, central bank governor Zhou Xiaochuan was quoted as saying on Saturday in an interview with a local magazine."
Global economic crisis hits China's exporters
High street braces for wave of failures as La Senza closes 80 shops
"Analysts predict up to 40,000 could lose jobs as lingerie chain joins list of those struggling to contain their debts"
"Analysts predict up to 40,000 could lose jobs as lingerie chain joins list of those struggling to contain their debts"
House prices will remain stagnant or fall in 2012, economists warn
## US ##
Darker Nights as Some Cities Turn Off the Lights (NYT)
Obama Signs Defense Bill Despite 'Serious Reservations'
## US ##
Darker Nights as Some Cities Turn Off the Lights (NYT)
Obama Signs Defense Bill Despite 'Serious Reservations'
"U.S. refineries exported a record amount of refined fuels in 2011 to markets in South America, Central America and Europe. It was one reason why Americans spent a record amount on gasoline this year: Supplies that might have helped lower prices here had been shipped abroad."
After All Those Ups And Downs The Market Ended 2011 Right Where It Started
17 States Still Project Budget Deficits (It Will Get Much Worse); Moving Targets and the Slowing Global Economy
17 States Still Project Budget Deficits (It Will Get Much Worse); Moving Targets and the Slowing Global Economy
America's new poor (CNN Money video)
It was easy to promise everyone affluence when energy was cheap. -- RF
Friday, December 30, 2011
News Links, December 31, 2011
## Global economic meltdown ##
Slowing China Means Ore-Ship Rates at Lowest in Decade
Slowing China Means Ore-Ship Rates at Lowest in Decade
"The International Monetary Fund recently told the Greek government that a worsening economic outlook suggests the beleaguered nation may be unable to reduce its debt to sustainable levels even with a planned 50% write down in privately-held Greek government bonds, according to two officials familiar with the conversations."
European Banks Close 2011 With Near Record Cash On Deposit At ECB, €9 Billion Overnight Increase
Canada stocks rise, but end the year down 11%
Canada stocks rise, but end the year down 11%
## Fault lines/flashpoints/military ##
Jim Rickards - US to go to War with Iran, Oil & Gold to Spike
United States as a global power: new world disorder
Russia Hands Over Nuke Sub Nerpa to India: Report
United States as a global power: new world disorder
Russia Hands Over Nuke Sub Nerpa to India: Report
## Global unrest/mob rule/angry people ##
Worsening power scenario triggers Valley-wide protests (Kashmir)
"Police Fire Tear Smoke, Pepper Gas Shells As People Take To Streets"
Seventeen dead as Syrians stage mass protests
"Usually around this time of the year, Jalgaon city in western India is abuzz with trucks ferrying mountains of fluffy white cotton to its markets.
"But this year, farmers have been blocking roads with burning tyres and refusing to sell their produce in a bid to force the government to prop up crop prices which they say barely cover costs."
## Energy/resources ##
Check out these recent related items:
"Three factors have converged to push Brazil's ethanol distilleries to the limit. Sugarcane production fell this year for the first time in a decade, reducing supplies; global demand for sugar has remained strong; and domestic motor-fuel demand has surged, straining local gasoline and ethanol supply."
## Intelligence/security/internet/systemic breakdown ##
Stuxnet weapon has at least 4 cousins: researchers
"The Stuxnet virus that last year damaged Iran's nuclear program was likely one of at least five cyber weapons developed on a single platform whose roots trace back to 2007, according to new research from Russian computer security firm Kaspersky Lab."
"Computer hackers plan to take the internet beyond the reach of censors by putting their own communication satellites into orbit."
## Japan ##
Euro may darken coming year / Profit forecasts could be cut if troubled currency stays near 100 yen
People are beefing up their cash positions. -- RF
"China's manufacturing contracted for a second month in December as Europe's debt crisis cut export demand, fueling speculation that the central bank may cut lenders' reserve requirements within days."
"Britons reduced their mortgage debt by £8.6 billion during the third quarter of this year, but the Bank of England said there was "little sign" that households are trying to pay their debts down more quickly than in the past."
## US ##
Sparrows Point, Maryland mill suspends steelmaking operations
Boston D.A. Subpoenas Twitter Over Occupy Boston, Anonymous
Sparrows Point, Maryland mill suspends steelmaking operations
Boston D.A. Subpoenas Twitter Over Occupy Boston, Anonymous
Foreclosures Roll On In Virginia, Even Over The Holidays
Could Bank of America Survive a Deposit Run in 2012?
A collection of extremely discouraging charts. -- RFCould Bank of America Survive a Deposit Run in 2012?
Thursday, December 29, 2011
News Links, December 30, 2011
## Global economic meltdown ##
Italy seeks bigger euro fund after tough debt sale
Italy seeks bigger euro fund after tough debt sale
Euro crisis putting the hurt on ethylene production
"Production of ethylene, a material used in a variety of products such as plastics and synthetic fibers, has started to fall at petrochemical complexes.
"This signals that the European sovereign debt crisis is beginning to spread to emerging economies and that it will cause production declines around the world."
"Production of ethylene, a material used in a variety of products such as plastics and synthetic fibers, has started to fall at petrochemical complexes.
"This signals that the European sovereign debt crisis is beginning to spread to emerging economies and that it will cause production declines around the world."
American Airlines Shares To Be Delisted In 2012
Jim Rogers: Little Reason for Optimism in Anything but Agriculture
Jim Rogers: Little Reason for Optimism in Anything but Agriculture
Slow recovery for swamped factories in Thailand
## Fault lines/flashpoints/military ##
Next Year's Wars (Foreign Policy)
## Fault lines/flashpoints/military ##
Next Year's Wars (Foreign Policy)
Iran claims US warship patrolling waters near Strait of Hormuz
"A showdown between Iran and the United States over Tehran's threats to close the strategic Strait of Hormuz to oil tankers worsened on Thursday with warships from each side giving weight to an increasingly bellicose exchange of words."
"A showdown between Iran and the United States over Tehran's threats to close the strategic Strait of Hormuz to oil tankers worsened on Thursday with warships from each side giving weight to an increasingly bellicose exchange of words."
Former Shell Oil CEO: Iran Threats Could Be Valid (CNBC video)
Strait of Hormuz standoff continues as Iran films US aircraft carrier
"Iran claimed to have successfully taken surveillance footage of a US aircraft carrier near the Strait of Hormuz today as both countries raised the stakes in their standoff over the critical oil route."
"Iran claimed to have successfully taken surveillance footage of a US aircraft carrier near the Strait of Hormuz today as both countries raised the stakes in their standoff over the critical oil route."
"Iran has been steadily increasing its capability to fight 'asymetric warfare,' which favors using small raids and hit-and-run tactics to help even the odds when a weaker foe is fighting a larger rival."
Argentina adopts wide definition of terrorism
"Argentina enacted a law on Wednesday providing a wide definition of terrorism that critics fear will allow the state to jail people for up to 15 years for activities as diverse as marching in protests or pulling money out of banks."
"Argentina enacted a law on Wednesday providing a wide definition of terrorism that critics fear will allow the state to jail people for up to 15 years for activities as diverse as marching in protests or pulling money out of banks."
"The growth in Taliban ringtones is a sign that after 10 years of war and a surge of U.S. troops, the U.S. and its allies still don't control Afghanistan's countryside. The big brains at Darpa even set up a quasi-intelligence program, called Nexus 7, to suss out the war's progress by studying obscure metrics like the stability of fruit prices. But you don't need Nexus 7′s spreadsheets and data sets to know that if Afghans have to pose as Taliban sympathizers, you're losing."
US pushes ahead with arms deal to Iraq
"Deal including $11bn worth of advanced fighter jets and tanks comes with Iraq mired in worsening political crisis."
"Deal including $11bn worth of advanced fighter jets and tanks comes with Iraq mired in worsening political crisis."
U.S. Base in Kyrgyzstan 'Very Dangerous': President
"Kyrgyzstan's new leader said Dec. 29 that it was "very dangerous" for his Central Asian nation to host a U.S. military base at Bishkek airport and that it must become a fully civilian airport by 2014."
"Kyrgyzstan's new leader said Dec. 29 that it was "very dangerous" for his Central Asian nation to host a U.S. military base at Bishkek airport and that it must become a fully civilian airport by 2014."
Garment exports down on power shortage (Pakistan)
"The lingering energy shortage has virtually crippled the industry."
Fuel woes hit power sector (India)
Petrol shortage hits Kilimanjaro (Tanzania)
Fuel shortage deepens (Nepal)
"Shortage of petroleum products deepened in the market on Wednesday after Nepal Oil Corporation (NOC), citing fund crisis and low import, distributed fuel to the petrol pumps operated by the security agencies and Sajha cooperatives only."
"Shortage of petroleum products deepened in the market on Wednesday after Nepal Oil Corporation (NOC), citing fund crisis and low import, distributed fuel to the petrol pumps operated by the security agencies and Sajha cooperatives only."
Harare plunged into darkness (Zimbabwe)
"HARARE was last night plunged into darkness for close to three hours following a system disturbance that emanated from Zambia and affected the Kariba Power Station."
## Got food? ##
## Environment/health ##
Elephant poaching: 'Record year' for ivory seizures
Taiwanese seas threatened by overfishing
Elephant poaching: 'Record year' for ivory seizures
Taiwanese seas threatened by overfishing
## Intelligence/security/internet/systemic breakdown ##
Power failure threatens phone, internet for 40,000 (Australia)
"Verizon Wireless said on Thursday that it had resolved an "issue" with its high-speed wireless network overnight, after its third widely reported problem in a month."
Boycott of GoDaddy over SOPA bill a barometer of Internet politics
## Japan ##
Growth of all-electric houses slowed down
Japan to Double Sales Tax to Reduce Debt
## Japan ##
Growth of all-electric houses slowed down
Japan to Double Sales Tax to Reduce Debt
Gov't request for nuclear storage facility site sends shockwaves through Fukushima
Okinawans protest base environment assessment after gov't sneaks it in under darkness
Okinawans protest base environment assessment after gov't sneaks it in under darkness
## China ##
China Stocks to Drop on 'Pretty Bleak' Economy: Chart of the Day
Chinese citizens sent to mental hospitals to quiet dissent
Chinese citizens sent to mental hospitals to quiet dissent
## UK ##
Elderly care in England 'in crisis', charity warns
"The care of the elderly in England could be plunged in to 'absolute crisis' by the government's spending cuts, the head of a charity has warned."
## US ##
"The care of the elderly in England could be plunged in to 'absolute crisis' by the government's spending cuts, the head of a charity has warned."
## US ##
"If we lose 2 million barrels per day, or ten percent for a protracted period of time, government crisis monitors say the chaos will be so catastrophic they cannot even model it. One government oil crisis source told me hours ago, 'We cannot put a price tag on it. If it happens, just cash in your 401k.'"
There's more poverty in America's suburbs than in the citiesThe U.S. Is Busy Building Supercomputers, but Needs Someone to Run Them
"The U.S. is racing to build the world's biggest supercomputers, but there's still a missing component—scientists and engineers who know how to use them."
"The U.S. is racing to build the world's biggest supercomputers, but there's still a missing component—scientists and engineers who know how to use them."
"Crumbling infrastructure in many of the nation's larger cities such as Birmingham are placing an unsustainable financial burden on populations unable pay for the rebuilding of key systems such as sewer and water, says a new research study from Michigan State University."
Chaos, Near Riot Ensues at Saks Shoe SaleAfter One Month Respite, Pink Slips Are Flying Again
Wednesday, December 28, 2011
News Links, December 29, 2011
## Global economic meltdown ##
Christmas gloom as retail sales fall 30 percent in Greece
India: A Massive Keynesian Failure
Greek economic crisis turns tragic for children abandoned by their families
"Nation shocked by stories of parents forced to give up children because of poverty – but charities warn of more cases to come"
Christmas gloom as retail sales fall 30 percent in Greece
India: A Massive Keynesian Failure
Greek economic crisis turns tragic for children abandoned by their families
"Nation shocked by stories of parents forced to give up children because of poverty – but charities warn of more cases to come"
World Economy Is in a Frightful Mess: Economist (CNBC video; warns of depression)
## Fault lines/flashpoints/military ##
Preparing to Attack Iran with Nuclear Weapons: "No Option can be taken off the Table."
Iran navy chief says shutting off Gulf "very easy"
"Closing off the Gulf to oil tankers will be 'easier than drinking a glass of water' for Iran if the Islamic state deems it necessary, Iran's top naval commander told the country's state television Wednesday."
"Closing off the Gulf to oil tankers will be 'easier than drinking a glass of water' for Iran if the Islamic state deems it necessary, Iran's top naval commander told the country's state television Wednesday."
"The U.S. Fifth Fleet said on Wednesday it would not allow any disruption of traffic in the Strait of Hormuz, after Iran threatened to stop ships moving through the world's most important oil route."
"Arab League monitors in Syria faced angry crowds, gunfire and explosions during their second visit to Homs, the heart of a nine-month revolt against President Bashar al-Assad, online videos appeared to show on Wednesday."
Syria: Arab League attacked for ignoring scale of violence
"An Arab League peace mission to Syria was in crisis on Wednesday night, attacked by opposition activists for failing to get to grips with the scale of the violence even as more people were shot dead in fighting."
"An Arab League peace mission to Syria was in crisis on Wednesday night, attacked by opposition activists for failing to get to grips with the scale of the violence even as more people were shot dead in fighting."
Algeria leaders have lost touch, risk anger: review
"Algeria's leaders are out of touch with their people who are growing increasingly angry about unemployment, red tape and poor housing, said a senior official carrying out a presidential review of the country's economic and social woes."
"Algeria's leaders are out of touch with their people who are growing increasingly angry about unemployment, red tape and poor housing, said a senior official carrying out a presidential review of the country's economic and social woes."
"Hopes for a surge in production of alternative biofuels are falling flat, and the U.S. expects to continue to rely on corn- and sugarcane-based ethanol to meet a national mandate for renewable fuels in 2012."
I suspect that in the future many people will be eating more of their food raw, anyway. Providing they have food to eat, that is. -- RF
## Intelligence/security/internet/systemic breakdown ##
SOPA is the end of us, say bloggers
SOPA is losing steam, Internet censorship may not become law
Your cell phone is out of your control
SOPA is losing steam, Internet censorship may not become law
Your cell phone is out of your control
## Japan ##
Japan Industrial Production Declines 2.6%, 3rd Quarter Capital Spending Drops 9.8%, Corporate Sentiment Drops to Minus 4; Powder Keg Waiting for a Spark (Mish)
Busby: Fukushima ' criminal event ' calls for investigation (RT video)
Busby: Fukushima ' criminal event ' calls for investigation (RT video)
TEPCO asked to consider coming under temporary state control
"The government on Tuesday floated the idea of putting the operator of the crippled Fukushima nuclear power plant under temporary state control, as it asked for $8.9 billion more in compensation aid."
"The government on Tuesday floated the idea of putting the operator of the crippled Fukushima nuclear power plant under temporary state control, as it asked for $8.9 billion more in compensation aid."
## China ##
Food security to be concern in 2012
Food security to be concern in 2012
Care for elderly in 'absolute crisis', charity warns
"Age UK says cuts leaving increasing numbers of old people with either no support or very limited help at home"
"Age UK says cuts leaving increasing numbers of old people with either no support or very limited help at home"
"Officers and civilian staff in Sussex have been told not to power up their personal phones, iPods and other electrical items at work in the hope of slashing electricity bills."
## US ##
11 Things That Will Be More Expensive in 2012
Gun sales at record levels, according to FBI background checks
What worries us most: Economic collapse
"Natural disasters, terrorist attacks, global disease – if you're so inclined, there's no shortage of major issues to fret about these days.
"Still, a new poll finds that the catastrophic event Americans are most likely to be worried about is economic collapse."
"Natural disasters, terrorist attacks, global disease – if you're so inclined, there's no shortage of major issues to fret about these days.
"Still, a new poll finds that the catastrophic event Americans are most likely to be worried about is economic collapse."
All should prepare for cold, power outage
"With colder temperatures approaching, U.S. health officials suggest everyone prepare their homes in case of severe cold temperatures or power outages."
"With colder temperatures approaching, U.S. health officials suggest everyone prepare their homes in case of severe cold temperatures or power outages."
U.S. Homeowners Are Ditching Their Mortgages And Getting Away Scott-Free
6 years later, Katrina victims fight FEMA debts
S&P moved into negative territory for 2011
6 years later, Katrina victims fight FEMA debts
S&P moved into negative territory for 2011
Tuesday, December 27, 2011
News Links, December 28, 2011
## Global economic meltdown ##
Treasury plans for euro failure (UK)
"The Government is considering plans to restrict the flow of money in and out of Britain to protect the economy in the event of a full-blown euro break-up."
ECB reports record cash deposits from banks
Treasury plans for euro failure (UK)
"The Government is considering plans to restrict the flow of money in and out of Britain to protect the economy in the event of a full-blown euro break-up."
ECB reports record cash deposits from banks
"The latest jump in deposits comes from cash lent to the banks by the ECB itself last week in order to ward off a fresh banking crisis and credit crunch."
9 Underground Economies - And Greece
"From Somalia's 'pirate stock exchange' to the flourishing illegal organ trade in Egypt, there are some making money hand-over-fist, under the table."
A Run On The Global Banking System—How Close Are We?
"From Somalia's 'pirate stock exchange' to the flourishing illegal organ trade in Egypt, there are some making money hand-over-fist, under the table."
A Run On The Global Banking System—How Close Are We?
James Rickards sees 'Currency Wars' destroying dollar
World 'dangerously unprepared' for future disasters
World 'dangerously unprepared' for future disasters
## Fault lines/flashpoints/military ##
Iran threatens to stop Gulf oil if sanctions widened
Iran threatens to stop Gulf oil if sanctions widened
Insight: Violence creeping into Mexican capital
"In a nation wracked by drug violence, this sprawling capital city of more than 20 million has been an oasis of relative peace. But the key to that calm - an informal truce among rival gangs - may be cracking."
"In a nation wracked by drug violence, this sprawling capital city of more than 20 million has been an oasis of relative peace. But the key to that calm - an informal truce among rival gangs - may be cracking."
## Global unrest/mob rule/angry people ##
Protests against power, gas outages in Punjab, KP
"Unscheduled power outages and gas loadshedding triggered fierce protests in the Punjab and Khyber Pakhtunkhwa on Monday.
"Citizens annoyed at persisting low gas pressure coupled with electricity blackouts of several hours took to the streets. They blocked the roads by burning tyres and chanted loud slogans against the government."
Electricity consumers protest against fuel adjustment surcharge
"Electricity consumers protested against the Fuel Adjustment Surcharge (FAS) in electricity bills in front of the Lesco office Monday.
"The protestors torn off electricity bills and burnt tyres in front of the Lesco office while chanting slogans against the power authorities and the government."
Iran to send oil products to Afghanistan
"Iranian oil officials said they signed agreements with Afghan authorities for the export of some 1 million tons of oil products starting as early as next year."
"Iranian oil officials said they signed agreements with Afghan authorities for the export of some 1 million tons of oil products starting as early as next year."
Iran 4th largest world oil producer
How to Get the Best Firewood for Clean and Affordable Energy
Good article. In my experience it's best to cut, buck, and split wood a year in advance. -- RF
Federal Gov't Finally Kills $6B USD Corn Ethanol Subsidy
How to Get the Best Firewood for Clean and Affordable Energy
Good article. In my experience it's best to cut, buck, and split wood a year in advance. -- RF
Federal Gov't Finally Kills $6B USD Corn Ethanol Subsidy
Power outages causing water shortage in I-10, I-9 (Pakistan)
"The residents of Sector I-10 and I-9 are facing acute water shortage due to power outages in the metropolis, increasing tankers' demand upto 800 from 200 per day."
"The residents of Sector I-10 and I-9 are facing acute water shortage due to power outages in the metropolis, increasing tankers' demand upto 800 from 200 per day."
"The country is facing a gas shortage, with Egyptian supplies not expected to resume in 2012 and rapidly declining output from the Mary B well off Israel's southern Mediterranean coast. Last week, the Yam Thetis consortium, which operates the Mary B well, said it was cutting gas supplies to IEC and other domestic users by 20-25% due to lower production."
## Infrastructure scavenging ##
Copper theft cuts phone service in SW Florida
Police: Bucket truck theft nets half-mile of copper wire
## Got food? ##
General Mills, ConAgra Fighting Food Inflation
General Mills, ConAgra Fighting Food Inflation
National CPI leaps by 19% this year (Vietnam)
## Environment/health ##
Philippine flood death toll nears 1500
## Environment/health ##
Philippine flood death toll nears 1500
## Intelligence/security/internet/systemic breakdown ##
"That would be a major breach of private information from any firm. But this hack could prove particularly significant, because Stratfor serves as an information-gathering resource and open source intelligence analysis for both the U.S. military and for major corporations."
## Japan ##
Kyushu Electric Halts Thermal Generator, May Face Supply Shortage
Tepco seeks $9 billion more for Fukushima compensation
Tepco seeks $9 billion more for Fukushima compensation
A Few Chinese Bad News Bears To Spoil A Happy New Year
China city tightens control of microblogs: report
China city tightens control of microblogs: report
Chinese Bloggers Have Discovered Another Abandoned Luxury Housing Development
Includes photos. Creepy! -- RF
Includes photos. Creepy! -- RF
Cancer patients 'relying on charity handouts' for fuel
"Cancer patients are relying more on charity handouts as they struggle to pay rising fuel bills, figures reveal."
Pawnbroker Albemarle & Bond to create 300 jobs
"Cancer patients are relying more on charity handouts as they struggle to pay rising fuel bills, figures reveal."
Pawnbroker Albemarle & Bond to create 300 jobs
"Albemarle & Bond today hailed 'the age of the pawnbroker' as it unveiled plans to create 300 jobs by opening 25 new stores next year."
2012: Stocks up 10% — or Doomsday scenario? (Paul Farrell)
"10 triggers threaten capitalism as 'Super-Rich Gap' rivals 1929's"
Sears Cuts Outlook, Will Close Stores… Long Slow Death March
"10 triggers threaten capitalism as 'Super-Rich Gap' rivals 1929's"
Sears Cuts Outlook, Will Close Stores… Long Slow Death March
Insurers' Profitability Plunges on Catastrophes
"U.S. property and casualty insurers' profitability fell to the lowest level since 2008 as losses from natural disasters exceeded gains in sales and investment income."
"U.S. property and casualty insurers' profitability fell to the lowest level since 2008 as losses from natural disasters exceeded gains in sales and investment income."
Monday, December 26, 2011
News Links, December 27, 2011
## Global economic meltdown ##
Spanish Economy Minister: We're Falling Into Recession
Spanish Economy Minister: We're Falling Into Recession
Horrifying. In 2012 over half of the government's tax revenues will be consumed by debt servicing alone. Countdown to crash. Set your clocks. -- RF
South Korean Consumer Confidence Falls to a Three-Month Low on Kim, Europe
## Fault lines/flashpoints/military ##
Japan urges China to help keep North Korea in check
## Fault lines/flashpoints/military ##
Japan urges China to help keep North Korea in check
Afghanistan sets ground rules for Taliban talks
"Afghanistan will accept a Taliban office in Qatar to help peace talks but no foreign power can get involved in the process without its consent, the government's peace council said, as efforts gather pace to find a solution to the 10-year war."
"Afghanistan will accept a Taliban office in Qatar to help peace talks but no foreign power can get involved in the process without its consent, the government's peace council said, as efforts gather pace to find a solution to the 10-year war."
"South Korea on Monday said it will bolster efforts to counter illegal Chinese fishing in its waters, including issuing more firearms to Coast Guard officers and raising penalties against offenders after a Coast Guard officer died after he was stabbed by a Chinese fishing boat captain earlier this month."
Iraq's Sadrists call to dissolve parliament
"Followers of Shia cleric Moqtada al-Sadr also want new elections amid political crisis and fresh violence in Baghdad."
"Followers of Shia cleric Moqtada al-Sadr also want new elections amid political crisis and fresh violence in Baghdad."
Egypt Islamist Blocs Score 90 Percent of Seats in Second Round
Reports in Sudan: Israel struck two weapons convoys in past month
"Sudanese military dismisses reports of recent Israeli airstrikes; according to foreign reports, IAF has struck Gaza-bound arms convoys in Sudan in the past."
Reports in Sudan: Israel struck two weapons convoys in past month
"Sudanese military dismisses reports of recent Israeli airstrikes; according to foreign reports, IAF has struck Gaza-bound arms convoys in Sudan in the past."
Gandhi clan blamed for keeping India in poverty
"The Gandhi dynasty that has ruled India for most of the 64 years since independence has kept the world's largest democracy in poverty, leaders of a protest movement said on Monday as they prepared renewed rallies to target the government on corruption."
"The Gandhi dynasty that has ruled India for most of the 64 years since independence has kept the world's largest democracy in poverty, leaders of a protest movement said on Monday as they prepared renewed rallies to target the government on corruption."
## Energy/resources ##
Pakistan faces power shortage
"Pakistan is facing an acute electricity shortage this winter, with cities bearing 10 hours of power outages.
"The electricity shortfall surged Saturday to over 40 percent for common consumers, hitting a new winter peak, Dawn reported."
Bakken Shale and U.S. Oil Production (ASPO-USA)
Must-read article for those who still believe the Bakken will bring "energy independence." -- RF
Ukraine to Invest 1 bn Dollars to Develop Three Iranian Oil Fields
Oil futures higher; Iran war games in focus
Oil futures higher; Iran war games in focus
Prices ups as fuel rans dry in Sumbawanga Region (Tanzania)
"Sumbawanga. Fuel shortage at filling stations has continued to haunt Sumbawanga residents in Rukwa Region paralysing transport.A spot check by this newspaper over the weekend established that many fuel stations had little or no stock, causing panic among motorists."
## Environment/health ##
Thousands lose power in storm-hit Scandinavia
## Intelligence/security/internet/systemic breakdown ##
Hackers claim to steal security think tank Stratfor's client list
"The hacking movement Anonymous says it will mine the client list for credit card numbers and use them to make charitable donations."
"Sumbawanga. Fuel shortage at filling stations has continued to haunt Sumbawanga residents in Rukwa Region paralysing transport.A spot check by this newspaper over the weekend established that many fuel stations had little or no stock, causing panic among motorists."
## Environment/health ##
Thousands lose power in storm-hit Scandinavia
## Intelligence/security/internet/systemic breakdown ##
Hackers claim to steal security think tank Stratfor's client list
"The hacking movement Anonymous says it will mine the client list for credit card numbers and use them to make charitable donations."
TEPCO seeks postponement of repaying 2 tril. yen in loans
"Tokyo Electric Power Co. and a state-backed entity providing financial assistance to the utility have asked major lenders to postpone the repayment deadline of around 2 trillion yen in emergency loans extended immediately after the nuclear crisis began at the Fukushima Daiichi power plant, sources close to the matter said Sunday."
"Tokyo Electric Power Co. and a state-backed entity providing financial assistance to the utility have asked major lenders to postpone the repayment deadline of around 2 trillion yen in emergency loans extended immediately after the nuclear crisis began at the Fukushima Daiichi power plant, sources close to the matter said Sunday."
A default by any other name... -- RF
Radiation fears spread to forest industry
"Radiation fears stemming from the ongoing crisis at the Fukushima No. 1 Nuclear Power Plant and radiation monitoring activities are raising concern among people handling trees to grow mushrooms and make charcoal."
"Radiation fears stemming from the ongoing crisis at the Fukushima No. 1 Nuclear Power Plant and radiation monitoring activities are raising concern among people handling trees to grow mushrooms and make charcoal."
Kyushu utility urges power saving
"Kyushu Electric Power Co. on Monday began asking both business and household customers to cut their power usage by more than 5 percent through Feb. 3 to help it cope the shutdown of all six of its nuclear reactors."
"Kyushu Electric Power Co. on Monday began asking both business and household customers to cut their power usage by more than 5 percent through Feb. 3 to help it cope the shutdown of all six of its nuclear reactors."
These projects will never be finished. -- RF
Firms shun Tohoku public works / Unprofitable small-scale projects in disaster-hit region go begging
## China ##
China Insolvency Wave Begins As Nation's Biggest Provincial Borrowers "Defer" Loan Payments
Rubber Demand in China to Slow in 2012 as Auto Sales Decline, Okachi Says
Rubber Demand in China to Slow in 2012 as Auto Sales Decline, Okachi Says
"Fees charged for snacks, pillows, headphones and blankets by airlines may be just the beginning of a trend, a study done by Canadian firm GuestLogix found.
"When the price of oil soared to $147 per barrel in the summer of 2008 and airlines began charging for extra baggage, extra legroom and early boarding privileges, it was just the start, GuestLogix said."
Businesses Exit California and Illinois; Tax and Destroy Policies of Governors Quinn and Brown; Unemployment Rates By State
Holiday Returns: Will They be Easier This Year? (MarketWatch video)
"Even as the holiday shopping season winds down, retailers are bracing for another wave of big crowds. Only this time around they won't be shopping -- but looking for refunds."
"When the price of oil soared to $147 per barrel in the summer of 2008 and airlines began charging for extra baggage, extra legroom and early boarding privileges, it was just the start, GuestLogix said."
Businesses Exit California and Illinois; Tax and Destroy Policies of Governors Quinn and Brown; Unemployment Rates By State
Holiday Returns: Will They be Easier This Year? (MarketWatch video)
"Even as the holiday shopping season winds down, retailers are bracing for another wave of big crowds. Only this time around they won't be shopping -- but looking for refunds."
Sunday, December 25, 2011
News Links, December 26, 2011
## Global economic meltdown ##
IMF May Revise Global Growth Forecast Lower
Japan to enter dollar swap agreement with India
"The Japanese government is considering a dollar swap arrangement with India to provide emergency liquidity in case the European debt crisis reaches emerging economies, the Nikkei business newspaper said on Sunday."
Japan to enter dollar swap agreement with India
"The Japanese government is considering a dollar swap arrangement with India to provide emergency liquidity in case the European debt crisis reaches emerging economies, the Nikkei business newspaper said on Sunday."
"Experts say as much as 75 percent of the North Korean population does not depend on the state-owned economy at all."
New sign of rising power for new North Korean leader's uncle
"North Korean state TV footage on Sunday showed Jang Song-thaek, the power behind the communist state's throne, wearing a military uniform with the insignia of a general, another sign of his rising influence after the death of Kim Jong-il."
"North Korean state TV footage on Sunday showed Jang Song-thaek, the power behind the communist state's throne, wearing a military uniform with the insignia of a general, another sign of his rising influence after the death of Kim Jong-il."
Massive Khan rally defies Pakistan ruling party
"Pakistan's former cricketer-turned-politician Imran Khan brought at least 100,000 people into the streets of Karachi Sunday in a massive rally that increases pressure on the civilian government and cements his standing as a political force."
"Pakistan's former cricketer-turned-politician Imran Khan brought at least 100,000 people into the streets of Karachi Sunday in a massive rally that increases pressure on the civilian government and cements his standing as a political force."
Al-Sadr proposes Iraq groups 'peace code'
"Iraq's anti-US Shi'ite cleric has launched an initiative calling for peaceful coexistence among all Iraqis after the withdrawal of US troops from the country."
"Iraq's anti-US Shi'ite cleric has launched an initiative calling for peaceful coexistence among all Iraqis after the withdrawal of US troops from the country."
## Global unrest/mob rule/angry people ##
Sudan Police Fire Tear Gas, Arrest 73 Students at Anti-Government Protests
## Energy/resources ##
Another eye-opener from Gregor Macdonald. -- RF
In Pennsylvania near the mines, coal is hard to get
"Increased foreign exports and the renewed popularity of the low-cost alternative to fuel oil have strained supplies so homeowners struggle to find anthracite for their stoves and furnaces."
In Pennsylvania near the mines, coal is hard to get
"Increased foreign exports and the renewed popularity of the low-cost alternative to fuel oil have strained supplies so homeowners struggle to find anthracite for their stoves and furnaces."
"Saudi Arabian Oil Co.'s decision to halt subsidized fuel for expansion of Saudi cement makers will affect supplies next year, according to the investment arm of the country's largest lender by assets."
Indian oil firms look at sourcing crude from Brazil
No coal, no growth, says South African power company chief
No coal, no growth, says South African power company chief
Hopping mad: Uganda power cuts hit grasshopper harvest
## Got food? ##
Farmland prices are soaring, fueled by rising global demand for commodities
## Environment/health ##
Winds of up to 101mph recorded in the Northern Isles (UK)
## Got food? ##
Farmland prices are soaring, fueled by rising global demand for commodities
## Environment/health ##
Winds of up to 101mph recorded in the Northern Isles (UK)
Tsunami debris from Japan expected in Alaska
## Intelligence/security/internet/systemic breakdown ##
Go Daddy loses over 37,000 domains due to SOPA stance
## Intelligence/security/internet/systemic breakdown ##
Go Daddy loses over 37,000 domains due to SOPA stance
"Hosting and domain registrar company Go Daddy has lost more than 37,000 domains in the past two days due to the company's wishy-washy stance on the Stop Online Piracy Act."
"The agreements include a plan for a Japanese government-backed entity to sell yuan-denominated bonds in China, a boost to Beijing's campaign to deepen its domestic capital markets. Other measures are designed to make it easier for companies to convert the Chinese and Japanese currencies directly into the other, without requiring an intermediate conversion into dollars, the current common practice."
Guess I'd better start brushing up my Chinese. -- RF
Plan in works for possible N. Korea refugee exodus
"Japan is studying measures to respond to a potential refugee surge if North Korea undergoes a cataclysmic change as a result of dictator Kim Jong Il's death last week, sources said."
"Japan is studying measures to respond to a potential refugee surge if North Korea undergoes a cataclysmic change as a result of dictator Kim Jong Il's death last week, sources said."
## China ##
Where the mornings taste grey: living under a cloud of smog in Beijing
Don't Worry About China: World Bank Chief Economist (Gordon Chang)
"There are not enough consumers in the world to support Chinese growth."
Oh Danny Boy, the Pipes, the Pipes Are Failing (on crumbling US infrastructure)
"People who own what is considered the safest type of municipal bond may be in for a surprise."
Everyone is laughing at Meredith Whitney now. But in the end, even Whitney will be surprised at how astonishingly right she is. -- RF
"Expect more of those who are uninsured to be turned away from community centers, more desperate souls seeking shelter with their families, more children whose conditions go undiagnosed, more patients than John H. Stroger Jr. Hospital can deal with, more disturbed offenders shuttled off to Cook County Jail and more homeless people."
Need a job? How about Internment / Resettlement Specialist?
