Monday, January 23, 2012


News Links, January 24, 2012

## Global economic meltdown ##
Lagarde calls for larger bailout fund
"International Monetary Fund director Christine Lagarde urged the European Union to add significantly more firepower to its economic rescue fund.
"In a speech in Berlin, Lagarde advocated for the EU to double available emergency funds, which she called a 'firewall' to $1.3 trillion."
IMF Chief Lagarde: World Economy Risks Depression-Era Collapse In Demand
"The global economy faces a depression-era collapse in demand if Europe doesn't quickly act to dramatically boost the size of its debt-crisis firewall, implement pro-growth policies and further integrate the euro zone, the head of the International Monetary Fund warned Monday."
600 million new jobs needed in next 10 years, says ILO
"The International Labor Organization on Tuesday released a pessimistic report for the global jobs market in 2012 saying urgent attention is needed to create 600 million new jobs in the next 10 years."
Many — or most — new jobs will be created by the quickly growing global underground economy. -- RF
EU Banks Deepen Dependence on Unlimited Central Bank Loans
"European banks, shunned by investors and each other, may borrow as much next month from the European Central Bank as they did in a record offering in December as they seek refuge from frozen funding markets."
Apple (and America's) Chinese Slave Labor Problem
Dubai's Zabeel $1.6bn debt talks stall - sources
"Debt restructuring talks at Zabeel Investments, owned by the crown prince of Dubai, have ground to a halt with multiple loans in limbo and few assets available for sale, leaving banks facing steep haircuts, five people familiar with the matter said."
Bloodbath to hit Australian real estate, analyst Jordan Wirsz says
More than 50,000 federal jobs on chopping block as Ottawa trims spending (Canada)
U.S. economy may never fully recover: Carney
Toyota to cut 350 jobs nationwide (Australia)
Maruti Suzuki Profit Slumps 64%
Bank of Israel cuts rates as economy slows
Texas Instruments Profit Drops 68%; To Close 2 Plants

## Fault lines/flashpoints/powder kegs/military/war drums ##
U.S. aircraft carrier sails through strategic Strait of Hormuz
Iran slams EU oil embargo and warns could hit U.S.
Iran 'definitely' closing Strait of Hormuz over EU oil embargo
Currency Wars - Iran Banned From Trading Gold and Silver
France's Hollande declares war on world of finance
Gaddafi loyalists take back Bani Walid
Russia closes deal on $550 million worth of warplanes for Syria
USS Simpson and Fire Scout set sail for Africa
US Troops Barely Gone, But Iraqi Govt Coming Apart at the Seams
Sheikhs fall in love with renminbi

## Global unrest/mob rule/angry people/torches and pitchforks ##
Chinese fire on Tibetan protesters, 1 dead: advocacy group
"Chinese troops fired on thousands of Tibetans who staged a protest in southwestern Sichuan province Monday, killing one and wounding as many as 30 of the demonstrators, an overseas advocacy group said."
Some See Two New Gilded Ages, Raising Global Tensions
Super-Rich Play Snow Polo as Igloo Agitators Heckle Davos Elite

## Energy/resources ##
OPEC: World Oil Demand to Near 89mb/d
Loss of Iranian Oil Could Add $40 a Barrel to Oil Price (CNBC video)
"Sabine Shels, senior director and global commodity strategist at BofA Merrill Lynch Global Research, told CNBC, 'sanctions against Iran could be a big risk for oil prices to go higher, simply Iran is the second biggest supplier of crude oil to Europe after Saudi Arabia and it is particularly the peripheral countries that are highly exposed to a loss of Iranian output.'"
China's Energy Firms Invade the Great White North
Analyst: Libyan oil recovery has limits
"'It is going to become progressively more difficult for them to increase production further,' Paul Stevens, a senior research fellow from Chatham House, told The National. 'There was a lot of damage done, a lot of theft of equipment and, more importantly, there's a serious shortage of qualified manpower.'"
IEA predicts declines in Nigerian energy
Gazprom to build South Stream in December
Sanctions push crude oil prices
Shale-Shocked: Fracking Gets Its Own Occupy Movement
Fossil Fuels vs. Renewables: The Key Argument That Environmentalists are Missing
Russia Orders Oil Companies To Freeze Gasoline Prices -Report
London and South East could face petrol shortage after refinery closure

## Got food? ##
Thinking About Food at Davos
"'We believe that the general trend for food commodity pricing is upwards,' says David Philipp, CEO of Ambata Global Advisors, an investment and advisory firm focused on sustainability themes."
Why GMO And Organic Can Not Co-Exist: Lateral Gene Transfer
Imagining Skyscraper Farms
Urban farms, yes. But vertical farms will last only as long as there is money and energy to maintain and operate the buildings. -- RF

## Environment/health ##
Huge Pool Of Arctic Water Could Cool Europe: Study
"A huge pool of fresh water in the Arctic Ocean is expanding and could lower the temperature of Europe by causing an ocean current to slow down, British scientists said Sunday."
Hospitals facing an acute drugs 'drought' (Australia)
"A SEVERE shortage of cancer and anaesthetic drugs is looming in Australia following a similar drought in the US, health experts warn."
10 places abandoned because of man-made environmental catastrophes
Bjorn Lomborg's climate sceptic thinktank to close

## Intelligence/security/internet/systemic breakdown ##
If feds can bust Megaupload, why bother with anti-piracy bills?
Polish sites hit in Acta hack attack

## Japan ##
Fukushima Cover Up Unravels: "The Government Can No Longer Pull the Wool Over the Public's Eyes"
IAEA reviews Japan's nuclear power safety
Thai Floods Took 4% Bite Out Of Japanese Output: Cabinet Office
10 control systems infected by viruses / Manufacturing sector vulnerable, ministry says
"At least 10 control systems managing production lines at vehicle and chemical plants had been infected with computer viruses by last March, forcing some of them to temporarily suspend operations, according to an investigation by the economy ministry."
Tainted stone tied to 60 buildings so far

## China ##
China's housing market is set for a hard landing
"The numbers are grim: China's property bubble is heading for a spectacular burst, and its effect on the country's economy will be widespread."
US actions make China-Russia alliance appealing (People's Daily)
State Grid of China Said to Bid for 25% of Portugal's REN; Oman Oil Offers
"State Grid International of China offered to buy 25 percent of Portuguese power-grid operator REN- Redes Energeticas Nacionais (RENE) SA, said two people with knowledge of the potential deal. Oman Oil Co. separately made a bid for 15 percent of REN, one of the people said."
ANALYSIS: Chinese military on edge after death of Kim Jong Il
European debt crisis rings alarm bells in China

## UK ##
Royal Navy warship set for Middle East mission
David Cameron: 'don't complain about welfare cuts, go and find work'

## US ##
United Welfare States of America: In 2011 Nearly Half The Population Received Some Form Of Government Benefit
Union reaches settlement to end Port of Longview labor dispute that included arrests, fines
Apparently there were plans to use military intervention. -- RF
Police need warrant for GPS tracking: court
Stocks Are Cheaper Than They've Been in Two Decades
"U.S. stocks are trading at their cheapest levels since at least 1990, according to such commonly used valuations as price-to-earnings and price-to-book ratios as well as dividend yield, Bespoke Investment Group says."
BofA Targets Up to $3 Billion in Additional Cuts
Fannie, Freddie Would Need Another $100 Billion From Taxpayers for Obama's Proposed Mortgage Writedowns; Obama Seeks Vote-Buying Opportunity; What's the Real Cost?
Is the ETF bubble about to burst?
Foreclosures: America's hardest hit neighborhoods
The Jobless Recovery to Remain Jobless

<< Home

This page is powered by Blogger. Isn't yours?