Sunday, January 01, 2012


News Links, January 2, 2012

## Global economic meltdown ##
Karachi: bellwether for a country on the brink
Crisis talk, austerity calls mark euro anniversary
European leaders predict 2012 will be worse than 2011
Singapore GDP Slowed to 4.8% as Lee Predicts 'Difficult' Global Conditions
"Singapore's growth will weaken further this year after slowing in 2011, constrained by a 'difficult' global environment and government efforts to cut foreign-worker inflow, Prime Minister Lee Hsien Loong said."
Gilts Climb 17% in 2011, Beating Treasuries, Bunds Amid Europe Debt Crisis
Euro Leaders Aim to Buy Time to Save Currency
Promises Go Out the Window as Spain Undertakes Huge Tax Increase Coupled With Biggest Budget Cut in History; Depression in Spain will Worsen (Mish)
Eurozone is closer to break-up, warns Standard Chartered's Peter Sands
Irish Consumer Lenders' ECB Reliance Rises to 73.1 Billion Euros

## Fault lines/flashpoints/military ##
Iran says it has made its first nuclear fuel rod
Iran fires radar-beating missile during Gulf drill
US Imposes Sanctions on Iran, But With Some Exemptions
"President Barack Obama signed into law on Saturday a defense funding bill that imposes sanctions on financial institutions dealing with Iran's central bank, while allowing for exemptions to avoid upsetting energy markets."
Santorum Would Threaten Strikes Against Iran
Feeling marginalized, some Iraq Sunnis eye autonomy
Gaddafi supporters 'try to blow up Tripoli power grid'
"A Libyan militia chief said on Sunday his fighters had captured nine supporters of otherthrown leader Muammar Gaddafi who had been plotting to blow up Tripoli's power grid on New Year's Eve."

## Global unrest/mob rule/angry people ##
Surging Back Into Zuccotti Park, Protesters Clash With Police
Occupy the Rose Bowl Parade: Protesters gearing up to march behind the roses
4 charged after 2 U.S. flags burned at Occupy Charlotte site
China's labour unrest to continue in 2012
Workers at Tripoli's decaying port go on strike
Funeral of Bahrain youth turns into street protest

## Energy/resources ##
Oil Posts An All-Time Annual High
Natgas price plunge puts heat on producers
"A steep drop in natural gas prices is squeezing the profits of producers such as Southwestern Gas Corp., EXCO Resources and Quicksilver Resources, which may need to shut wells, raise cash, cut staff or seek merger partners in the coming year."
Power outage hits parts of Midtown Detroit
Nigeria fuel subsidy end raises protest fears
Iran ratchets up pressure on Kuwait over gas field
Venezuela to Invest $5 Billion in Orinoco Oil Belt, Chavez Says
Gas prices rise 30 percent in Myanmar for new year

## Got food? ##
New England Cod Crisis Has No Easy Answers

## Intelligence/security/internet/systemic breakdown ##
Insight: West in political crisis has echoes of 1930s
"Dysfunctional politics threatens to deliver a protracted period of slow global growth, possibly lasting well beyond 2012, which will only deepen the political and economic problems for the West."
Peak oil and peak complexity are taking their toll. Systemic breakdown accelerates from here. -- RF
Presenting NSSM 200: "Implications of Worldwide Population Growth For U.S. Security and Overseas Interests"

## Japan ##
In Tsunami Aftermath, 'Road to Future' Unsettles a Village
Noda vows to revive economy through social security, tax reforms
Japan's population decreasing at fastest postwar rate
54% of N-zone evacuees have yet to return

## China ##
China's Jade Cargo grounds planes on weak demand
"China's Jade Cargo International Company Ltd. said Saturday that it had temporarily grounded its fleet of six Boeing 747 freighter planes because of weak demand."
PLA's January Surprises
China Manufacturing Sector Narrowly Avoids Contraction

## UK ##
Housing benefit cuts will put 800,000 homes out of reach, according to study
"Chartered Institute of Housing says families face choice of cutting food bills to pay rent or moving out"
Year's end brings fresh job fears for high-street workers
Everyone Is Starting To Realize The Size Of Britain's Debt Crisis

## US ##
SPX Update: Is Your 401(k) Ready for a 70% Haircut?
Shortage of ADHD drug Adderall seen persisting in 2012
Earthquake Strikes Near Ohio Fracking Site
"Officials said Saturday they believe the latest earthquake activity in northeast Ohio is related to the injection of wastewater into the ground near a fault line, creating enough pressure to cause seismic activity."
Americans buy record numbers of guns for Christmas
2012: Another Bad Year for Store Closings
AES Coal Power Plants in New York State File for Bankruptcy
"AES Corp. (AES) units that either own or lease six coal-fired power plants in New York state sought bankruptcy court protection, citing the depressed economic environment for the electric power industry."
Low 2011 Mortgage Rates Won't Stop 2012 Foreclosure Wave
Urban Institute: Foreclosure backlog to 'take decades to complete'
Catherine Austin Fitts on Wall Street's Corruption, the Austrian School and Who's 'Really' in Charge (Daily Bell)
The Worst Part of the Signing Statement: Section 1024

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