Friday, January 13, 2012


News Links, January 14, 2011

## Global economic meltdown ##
Experts predict German recession in 2012
Mass S&P downgrade as Greek debt impasse hit euro zone
"Standard & Poor's downgraded the credit ratings of nine euro zone countries, stripping France and Austria of their coveted triple-A status but not EU paymaster Germany, in a Black Friday 13th for the troubled single currency area."
Greek Debt Talks Halted, Appear Close to Collapse
Greek 1-Year Bond Yield Tops 408 Percent; Hard Default Appears Imminent
Eurozone thrown into new crisis as France loses AAA credit rating
Most Europe, US Ratings Should Be Lower: Faber
Fitch warns of 'cataclysmic' euro collapse
"The European Central Bank should ramp up its buying of troubled euro zone debt to support Italy and prevent a 'cataclysmic' collapse of the euro, David Riley, the head of sovereign ratings for Fitch, has warned."
Everyone Hates The Euro - EUR Shorts Hit New Record High
ECB Says Credit Crunch Averted; Yet ECB Overnight Deposits Again Hit Record High; Skyrocketing ECB Balance Sheet
Eurozone Industrial Output Falls For Third Month
Prime Office Rent in Rio de Janeiro is More Expensive Than in Manhattan
Canadian mortgage rate hits record low
22 Signs That We Are On The Verge Of A Devastating Global Recession
Nakheel may need state pledge to raise new debt
"Nakheel, the Dubai developer that wrote down $21bn of its assets, may struggle to raise debt without a state pledge to back its first fundraising since the emirate's property crash, analysts say."
Much of the global economy remains underground: It's hidden, massive and lucrative
Weaker Europe starts to lose appetite for US goods
Mobius Says Nigeria Strike May Cause Substantial Corrections

## Fault lines/flashpoints/military/war drums ##
Cameron warns Iran not to shut the Strait of Hormuz
U.S. warns Iran ayatollah on strait threat
Pentagon downplays reports of Mideast buildup
"The Pentagon said on Friday that Iran's 'destabilizing behavior' was a factor in its planning in the Middle East but sought to discourage speculation the U.S. military was quietly building up forces in the region to counter any perceived threat."
US stations 15,000 troops in Kuwait
Russian Ship Heads to Syria with Weapons: Report
Syria tanks and troops 'enter protest town, Zabadani'
INTERVIEW-Syria's army weakened by growing desertions
Somali pirates struggle against international crackdown
In the future, pirates will rule lawless seas. -- RF
U.S. warns of possible "terrorist" attack on Bangkok
Brotherhood claim 46 percent of Egypt parliament
US to exchange ambassadors with Burma

## Global unrest/mob rule/angry people/torches and pitchforks ##
Nigeria workers stage 5th day of strikes, talks pause
"Nigerian workers took to the streets for a fifth day of strikes over the lifting of a popular fuel subsidy Friday, after trade unions broke off talks with President Goodluck Jonathan and said they would not restart until Saturday."
Saudi forces clash with protesters in Qatif
"One person killed, and at least one injured, as security forces open fire after protesters attacked a police car."
OWS Prepares to Occupy Martin Luther King Jr. Day
Police disperse 'stateless' protest, dozens arrested (Kuwait)

## Energy/resources ##
Are Offshore Wind Farms a Feasible Option for the Future?
This is a must-read article and a much-needed shot of realism into all the hoopla about wind power. -- RF
Strikes hurting Nigerian oil economy
Renewables too expensive, Sofia claims
"Bulgaria remains committed to 2020 goals regarding renewable energy but at this time finds clean energy technology too costly, the prime minister said."
LUKoil's oil output falls 5.5 pct to 90.7 mln T in 2011

## Got food? ##
Black Swans, Food Shortages, and Social Unrest
But does not sufficiently treat the role of cheap oil in raising food production. -- RF

## Environment/health ##
NASA predicts massive ecological change in Canada
Warmer summers cause colder winters, scientists say
"Warmer summers in the far Northern Hemisphere are disrupting weather patterns and triggering more severe winter weather in the United States and Europe, a team of scientists say, in a finding that could improve long-range weather forecasts."

## Intelligence/security/internet/systemic breakdown ##
Homeland Security Given Green Light to Monitor American Journalists
Facial recognition: In the future, can you remain anonymous?
False Flag (Foreign Policy)
"A series of CIA memos describes how Israeli Mossad agents posed as American spies to recruit members of the terrorist organization Jundallah to fight their covert war against Iran."

## Japan ##
Fukushima Daiichi Nuclear Plant Weekly Review
Noda says no decision yet on reducing Iran oil imports
"Prime Minister Yoshihiko Noda said Friday the government has yet to decide on whether it will reduce oil imports from Iran in line with U.S. sanctions, saying businesses implications need to be considered."
Iranian oil cut a source of worry / Reestablishing ties could be hard; other supplier could seek higher prices
4,000 in Tohoku to lose jobless benefits as extensions end
TEPCO looks to become nationalized to gain taxpayer funds as expenses balloon
Long ago I said that TEPCO is a dead man walking. -- RF
Surplus plunges 85% in Nov. / Year-on-year fall to 138 billion yen marks lowest level since Jan. 2009

## China ##
Hot Money Heads for China's Exit
"A hurried exit of capital from China is flashing a warning sign for investors in the world's second-largest economy."

## UK ##
David Cameron in talks with Saudi king
Construction growth sluggish, new figures show
Child benefit cut will go ahead, says Osborne

## US ##
Fed to Weigh Further Easing Amid Doubts About Recovery
Serious debt problems will continue, experts say
"Over the past 10 to 15 years, total debt outstanding in the US has grown as a much faster pace than population, and little has been done to deal with the debt in spite of widespread unemployment, flat personal income, and declining collateral values."
Delta hikes rates, other carriers follow
"'We're still battling high fuel prices. Any kind of increase we take is specifically to combat the high cost of fuel,' said Southwest spokeswoman Katie McDonald."
Foreigners Sell Record $85 Billion In Treasurys In 6 Consecutive Weeks - Time To Get Concerned?
Navy to Maintain Focus on Middle East, Strait of Hormuz (DoD)
It's Official: Wealth Gap Has Turned America Into a Seething Pit of Class Resentment
Ponzi Scheme or Not, Social Security Can't Keep Up the Pace

And finally... The Most Outrageous Excuses for Being Late to Work

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