Tygodniowy przegląd wiadomości ze świata: 7-13.11

1. Przegląd wiadomości z tygodnia ubiegłego można znaleźć tutaj

2. Katastrofa nuklearna w Fukushimie – informacje znajdują się  tutaj. Ostatnia aktualizacja: 20.11.2011

3. Tygodniowy przegląd wiadomości ze świata (w wersji oryginalnej). Codzienne aktualizacje znajdują się na witrynie Rice’a Farmera.

GLOBAL ECONOMIC MELTDOWN

Int’l Shipping Industry Poised For A Tough 2012, Crown Chairman Says

JPMorgan’s Huge Call: Italy Will Need The IMF, And A ‘Big Bang’ Economic Shock

Italian Debt Risk Faces Euro Insurers

„Italy could deal insurers a lethal blow. Europe’s insurers own an estimated €300 billion (about $408 billion) of Italian sovereign debt—equivalent to a large chunk of their €450 billion shareholders’ equity, notes JP Morgan. While banks’ exposure has been much debated, an Italian default or euro exit could devastate insurers’ capital and in turn Europe’s savings.”

U.K.’s Cable Urges ‘Unlimited Powers’ for ECB

„U.K. Business Secretary Vince Cable said the European Central Bank needs unlimited powers to support the euro and the region’s debt-ridden economies.”

Slovenian Economist Emails „Our Banking System is on Brink of Collapse”; Housing Crash and Incompetent Bureaucrats Blamed

The Most Important Thing You Need To Know About The Man Who Will Lead Italy’s New Government

„With ties to every major business in Italy, it’s no surprise Monti was able to gather a huge support system in such a short period of time.”

Lagarde warns Asia of ‘downward spiral’

APEC leaders seek firewall against Europe crisis

„‘If we can at least contain the (European) crisis then one of the great opportunities we have is to see the Asia-Pacific region as an extraordinary engine for growth,’ Obama said on Saturday. But that engine is slowing down and inflation-wary Asian leaders do not necessarily want to rev it back up.”

Indian Billionaires Fail to Turn Air-Travel Boom Into Profits

Emirates to add 50 new planes worth $18 billion

Airlines blow bubbles, too. — RF

Morgan Stanley: We’re Shorting The Euro Again

Eurozone Crisis: EFSF Buys its Own Bonds

EFSF Denies It Is An Illegal Pyramid Scheme

Ministers at APEC vow ‘green’ growth

Infinite growth is as „green” as coal is „clean.” — RF

Spanish region auctions some of its official cars

„The central Spanish region of Castilla-La Mancha is auctioning off part of its fleet of official cars in a bid to raise money in hard times.”

Hungary’s Sovereign Debt Ratings May Be Cut to Junk by Standard & Poor’s

EU Says Greek Debt to Be Almost Twice Size of Economy Next Year

The public is ignorant of Gold’s worth at a time when Euro is dying

Barclays: Italian industrial production declines 4.8%; French slumps 1.7% m/m in Sept

China’s Dagong May Cut U.S. Credit Rating Again If It Adopts QE3 Program

Greeks, Seeking Access to Health Care, Stuff Envelopes Full of Cash

The Eurozone Turns Down Chinese Money And Quid Pro Quo

„I Want You All Fired” Yet Another Fantastic Video from Nigel Farage, Speaking to European Parliament

„We’re headed for a Europe of rebellion and violence.”

IMF may ask for funds to bail out eurozone

„Japan could be asked to provide funds to the International Monetary Fund if the lender needs to mobilize additional resources to prevent the eurozone debt crisis from sparking global economic turmoil, Christine Lagarde, the fund’s managing director, said Saturday.”

Fearing they will be left behind, Asian nations rush into trade talks

Steel output only 40 percent of capacity (Pakistan)

Argentine savers rush to withdraw U.S. dollars: bank sources

„Fear of restrictions on access to dollars in Argentina prompted depositors to speed up withdrawal of greenbacks from their bank accounts this week, pushing interest rates up as the state acts to slow the outflows.”

Slovenian Bond Yield Breaks 7%, First Time Since Euro Entry in 2007; Might Slovenia Exit the Eurozone First?

IMF warns rich states may fall back into recession

„In particular, the IMF said there was ‘considerable uncertainty’ about how fiscal sustainability will be achieved in the United States, Japan, and some euro area economies.”

The IMF is a master of understatement. — RF

The emergence of the Frankfurt Group has turned back the democratic clock

„Electorates are being bypassed as increasing austerity pushes Europe’s weaker countries into an economic death spiral”

Europe Warns EFSF Will Not Reach €1 Trillion, EFSF Yields Remain At Record Wides

Italy crisis: Senate adopts austerity law

Invisible Run on Banks Becoming Conversation With Italian Yields Above 7%

Economy Hitting Stall Speed Because of Debt: El-Erian

Italy May Need to Exit Euro: Roubini

„Sold To You”: European Banks Quietly Dumping €300 Billion In Italian Debt

Can The World Afford Another Round Of Bank Bailouts?

Greece Turns to Iran for Oil as Credit Shut Down Elsewhere; EU Considers Oil Sanctions on Iran

„Greek suppliers concerned about the potential default of Greece have shut off financing for oil. In turn this has caused Greece to turn to Iran. However, the EU is now threatening to impose more sanctions on Iran over nuclear issues. If the EU acts that stupidly, the Greek economy will shut down.”

Airline Industry Braces for Turbulence in 2012

„The combination of major tax increases and fuel prices that are widely expected to rise, means there could be rougher skies ahead for the carriers. Passengers, as well, will likely face fewer frills, fewer route options and notably higher prices.”

The airline industry continues to die a slow death. — RF

Families hit for €3,000 more as price hikes fuel inflation (Ireland)

„Hard-pressed families are being hit for almost €3,000 more a year as increased mortgage rates and surging energy costs drive inflation higher.”

Indian vehicle sales, exports losing traction

„The Indian economy is losing more of its momentum, with vehicle sales plunging and exports contracting.”

Europe Recovery Rally Fizzles As French Bund Spreads Hit Record On Fresh Downgrade Rumor

France, the New Elephant in the Room

Roubini: Italy Is Doomed And Will Exit EMU Unless ECB, Germany Step In

Eurozone’s growth has stalled, says EU

A Financial Nightmare For Italy: The Yield Curve For Italian Bonds Is Turning Upside Down

World has Major Funding Gap; IMF Begs Russia and China for Money; Italy and Greece Demand Deposits Collapse; Run on Greek Banks?

Venezuela’s risk of debt default keeps oil, other industries on the edge

„Greece may have to move over. While global investors and financial regulators have been transfixed in recent months on a possible European debt crisis, Venezuela, a major oil exporter, ranks just behind the cradle of Western civilization in terms of the risk of defaulting on its debt and roiling global financial markets.”

Canada’s pension system loses $1.2 billion

Since growth is dead, pensions are all going to evaporate. Count on it. — RF

Papademos named PM to claw Greece out of crisis

A banker has been put in charge of Greece! — RF

New Italian government seen within days

Steel outlook looks grim as uncertainty dissuades buyers from purchasing

Solar Glut Worsens as Supply Surge Cuts Prices 93%: Commodities

India’s Trade Deficit Widens the Most in at Least 17 Years

Italian Crisis Ambushes Ireland After Greece

Italy at breaking point, Merkel calls for „new Europe”

French and Germans explore idea of smaller euro zone

European debt crisis spiralling out of control

Greek party deal on new crisis premier collapses

Euro Zone Has No Plans to Rescue Italy

„‘Financial assistance is not in the cards,’ one euro zone official said, adding the euro zone was not even considering extending a precautionary credit line to Rome.”

ECB’s Stark to Europe: We Are Not ‘Lender of Last Resort’

„European Central Bank policymaker Juergen Stark warned European governments on Wednesday against asking the ECB for support in dealing with the region’s sovereign debt crisis, saying this would put the central bank’s independence at risk.”

Banks Create New Rules to Show they are Already „Well Capitalized”; Magic Spreads at Lightning Speed

As Banks Stop Hiring, Industry Safety Net Rips Apart

Financial Impacts of Reaching ‘Limits to Growth’

Maersk’s Container Line to Post Loss as Freight Rates Fall

Baltic index fell to a 7 week low on November 7 2011

Deutsche Bank on Europe: ‘It’s Not Inconceivable That We Could Be In Full Crisis Mode By The End Of This Week’

Greek Bank Deposits Plunge By €5.5 Billion In September: Biggest Monthly Drop Ever

Top German Economist: ‘It’s in Greece’s Interest to Reintroduce the Drachma’

Italy’s Bond Rollover Problem Dramatically Worsens; Yield Curve Inverts; 3-Year and 5-Year Bonds Yield Exceed 10-Year Yield

Italy is bust; it’s just a question of when

Printing money won’t solve a global depression (Bill Bonner)

„The world is headed towards a depression, which will lead to printing more money, which will lead to hyperinflation”

Kingfisher cancels 12 flights due to crew shortage, fuel problems (India)

„The crisis seems to be deepening for Kingfisher Airlines. On Monday the airline cancelled 12 flights from Delhi and several more from across the country reportedly due to a shortage of cabin crew and pilots. The airline is also facing severe fuel problems due to non-payment of dues.”

Are the Thailand Floods About to Kill Computer Companies?

Hard disk famine shaping up as predicted after floods

„Basically the Thai floods have taken out Western Digital and Toshiba’s disk drive operations at Bangkok, with an industry shortfall this quarter of 50 million or more drives. It is not known how long it will take to get the plants and any affected component suppliers back to full operations.”

Humiliated by West, Belarus turns to China rating agency

ROUBINI: The Next MF Global Collapse Could Be Goldman Sachs

29 Systemically Dangerous Global Banks

Derivatives Tide Rises at Big Banks (WSJ)

„Huge numbers can be scary, especially when it comes to derivatives. So investors should take a seat before reading third-quarter securities filings from some of the biggest U.S. banks. During the period, gross derivatives assets jumped 52% at Bank of America from the previous quarter, to $2.17 trillion. At J.P. Morgan Chase, they rose 47%, to $2.04 trillion. And at Citigroup, they increased 31%, to about $1.1 trillion.”

The Euro ‘Event’ Will Cause Depression: HSBC

Former Federal Reserve Economist Likely Next Prime Minister of Greece

Italy bond yields soar; euro zone troubles deepen

Is 7% the tipping point for Italy?

France forced to cut budget again as election looms

German economy splutters as output slumps

Only 15% Of European Companies Will End The Year In The Black

Euro-Kaput: ‘Euro could be dead by end-November’ (RT video)

European Banks Cutting Sovereign Bond Holdings Threatens to Worsen Crisis

History Suggests Greece Will Freeze Bank Deposits, Exit Euro by Christmas; Spain and Portugal to Follow Next Year (Mish)

Lone Star’s Korea Exchange Bank Posts 63% Decline in Earnings

KT third-quarter net dips 41 percent

„South Korea’s telecom titan KT Corp. said Monday that its third-quarter earnings dropped 41 percent from one year ago due mainly to currency loss and a decreased number of subscribers for mobile handsets and Internet services.”

Hong Kong Likely Entered Recession in Q3: Daiwa

Asia-Pacific Office Rents Increase at Double the Global Pace

This is supposed to be a hopeful sign, but it looks more like a bubble to me. — RF

Spanish cemetery warns of evictions for nonpayment

Eurozone crisis: What it means for East and West

„Eurozone leaders have brought their begging bowl to China, looking for help in boosting their bailout fund. So what does this say about the shift in the global balance of power?”

But China is likewise doomed in the long run. The Chinese had better enjoy it while they can. — RF

And You Thought the Real Estate Bust Was Over

„This week all eyes are on Greece and Italy, which is reasonable since they’re likely to be pretty entertaining. But as incredible as it sounds, PIIGS country sovereign debt might not even be the biggest banking-system threat on the immediate horizon. It turns out that the largest European banks have held onto — and apparently failed to mark down — a mountain of crappy paper from the housing bubble.”

FAULT LINES / FLASHPOINTS / MILITARY

Brazil police invade Rio’s biggest slum

Rudd mum on US troop boost, takes aim at Greens

„Media reports suggest Mr Obama will announce the US will begin rotating Marines through a base in Darwin, with a new permanent presence on Australian soil.”

Spain, in pain, turns to the right

Rival Libyan militias clash near military base

Mystery surrounds deadly blast at Iran ammunition depot

China and Russia refuse to back US over Iran

Kazakhstan prepares for growing Islamic militant threat

A New Era of Gunboat Diplomacy (NYT)

„IT may seem strange in an era of cyberwarfare and drone attacks, but the newest front in the rivalry between the United States and China is a tropical sea, where the drive to tap rich offshore oil and gas reserves has set off a conflict akin to the gunboat diplomacy of the 19th century.”

Salman underlines need to boost defense capabilities (KSA)

„Newly appointed Defense Minister Prince Salman assumed office on Saturday as the country’s chief of staff disclosed plans to modernize the armed forces and strengthen its combat capabilities in the face of growing challenges and dangers.”

Crude oil: Iran geopolitical risks the new threat to supplies

Kidnap and piracy: ransom demands reflect rapidly spreading unrest (FT)

Silvio Berlusconi bows out after Italian MPs vote for savage cuts

N. Waziristan militant leader threatens Pakistan government

„The most powerful militant leader in Pakistan’s North Waziristan border region has threatened to tear up a peace accord and turn his fighters against the Islamabad government.”

The US Won’t Give Germany its Gold

Syria Suspended From Arab League

Japan protests S. Korean concert on disputed isles

Another anti-Saudi plot foiled (Arab News)

„A terror cell planning attacks against the Saudi Embassy, the King Fahd Causeway and other vital installations in Bahrain has been broken up, a Bahraini Interior Ministry spokesman said Saturday.”

French Air Chief: UAVs Taxing Available Satellite Bandwidth

Syrian forces kill 20, protesters urge Arab action

Ukrainian highway thieves steal from moving trucks

U.S. Plans Bomb Sales in Gulf to Counter Iran

„The proposed sale to the United Arab Emirates would vastly expand the existing capabilities of the country’s air force to target fixed structures, which could include bunkers and tunnels—the kind of installations where Iran is believed to be developing weapons.”

Reports: U.S. Military to Help Fight Nigerian Terrorists

Obama challenger Romney says ‘prepare for war’ against Iran
Panetta: Attacking Iran Might Have ‘Unintended Consequences’

Blasts hit Egypt’s gas pipeline to Israel, Jordan

„Saboteurs blew up a Sinai pipeline on Thursday, halting gas supplies from Egypt to Israel and Jordan in the sixth such attack since the overthrow of President Hosni Mubarak, Egyptian security sources and witnesses said.”

Online critic of drug violence beheaded in Mexico

China says sanctions no ‘fundamental’ answer on Iran

China, Russia resist US push for stiffer Iran nuclear sanctions

Israel May Lack Capability for Effective Strike Against Iran
Iran Plot: A Pretext for War

Iran and China to Share Academic Energy Expertise

Obama to Aid Uzbek Dictatorship

„The U.S. Senate Appropriations Committee, in a move initiated by the Obama administration, has voted to waive Bush-era human rights restrictions on military aid to the Islam Karimov dictatorship in Uzbekistan, one of the most brutal and repressive regimes on the planet.”

U.S. military views presence in Asia as top priority despite budget cuts

Mossad, CIA, MI6 Set up Spying Centers Near Iranian Borders (Fars News Agency)

China to send armed patrols on Mekong: report

„China and several neighbouring countries will provide armed escorts to ships navigating the Mekong River, state media said Wednesday, after 13 Chinese sailors were killed on the key waterway last month.”

What does this remind me of? Oh yea, the Gulf of Aden! — RF

Street crime wave hits Europe’s capital

Israel’s Barak plays down talk of war with Iran

Russia, China Warn US Against Attacking Iran

Sarkozy tells Obama Netanyahu is a „liar”

„French President Nicolas Sarkozy branded Israeli Prime Minister Benjamin Netanyahu ‘a liar’ in a private conversation with U.S. President Barack Obama that was accidentally broadcast to journalists during last week’s G20 summit in Cannes.”

France opposes strike on Iran: minister

DEA Operates Its Own Special Forces Squads in Foreign Countries

Pakistan seeks full SCO membership

„ST PETERSBURG (Russia): Prime Minister Yousuf Raza Gilani arrived here on Sunday in a bid to seek full membership of the important regional security grouping of Shanghai Cooperation Organisation (SCO).”

New fight against pirate attacks

„About one thousand former Royal Marines will be deployed by a British company next year to protect oil tankers and other ships that cross the dangerous shipping lanes of the world, particularly along the east coast of Africa.”

Copycat pirate attacks on the rise in West Africa

Somali pirate attacks hit record level

Competition deepens in the South China Sea

ASEAN, Japan leaders to vow deeper cooperation on maritime security

US Abandons Largest Iraq Base: 20 Left

Economic blockade: Manipur on brink of a breakdown (India)

„On day 99 of the economic blockade in Manipur, residents of the north eastern state say the state has turned into a ‘lawless region, literally on the brink of a complete breakdown’.”

Russia issues stark warning against attack on Iran

An imminent Israeli strike on Iran nuclear program? Not likely.

IAEA Poised to Release Iran ‘Evidence’ Centering Around Computer Simulations

Syrian declares Homs a ‘humanitarian disaster zone’

„Syria’s opposition has appealed for international intervention to protect the civilian population of Homs after more than 110 people were reportedly killed in the army’s latest assault on city.”

Israeli TV station facing closure unless political commentator removed from post

Ethnic violence ‘systemic’ in Kyrgyzstan

Russian Planes Spark NATO Scramble in Baltics

GLOBAL UNREST / ANGRY PEOPLE

South China villagers riot over land dispute: police

„South Chinese villagers wielding clubs and stones attacked an industrial park, incensed by reports that an official had sold land without compensating them, police and media said on Sunday in the latest flare-up over commercial development.”

St Paul’s camp faces legal action ‘within days’

Portland police dismantle ‘Occupy’ camps after confrontation

Antinuclear-plant protesters rally in Fukuoka (Japan)

„A series of large antinuclear rallies took place in Fukuoka on Sunday with the organizer saying more than 15,000 people, including from South Korea, took part calling for dismantlement of all nuclear power plants in Japan.”

Maruti Suzuki Labor Unrest (India)

Officials crack down on Occupy Wall Street camps around the country (US)

Six arrested at Occupy protest (UK)

Oakland again issues eviction notice to ‘Occupy’ protesters

How Occupy Became This Century’s Free Speech Movement

Latest developments in the Occupy protests occurring in places around the world

Occupy protesters at Berkeley vote to strike

„Occupy protesters at the University of California, Berkeley are calling on students to walk out of classes as part of a general strike in opposition to cuts in higher education.”

Fuel subsidy removal: Youths mobilise for hunger strike, demonstration (Nigeria)

Protest against fuel price hike, trade union members arrested (India)

Thousands protest as education budget enters Chile’s Congress

32 injured in Ecopetrol protests: Union (Colombia)

Tibet protester sets himself alight in Nepal

Commissioning of India Kudankulam nuclear plant delayed due to protests

‘Burning martyrs’: the wave of Tibetan monks setting themselves on fire

„‘I am 100% sure there will be more. The situation is suffocating and there is no other way to demonstrate anger,’ said Kanyang Tsering, 32, a monk from Kirti living in Dharamsala.”

This is just one of the powderkegs waiting to blow up China. — RF

Dozens Of Occupy Protesters Arrested At Berkeley

Fuel protests, mob rage choke city, cops helpless (India)

Police storm CBD building to remove Occupy Sydney protesters

Brazilian police forcibly remove protesting students from university building in dawn raid

Occupy Vancouver turns nasty; protesters bite two police officers

First Occupy site ordered down in Canada (Ontario)

Students marching against tuition fees met with ‘total policing’ tactics (UK)

Plastic bullets available to police for Wednesday’s student protests (UK)

Syrian Government Steps Up Assaults Against Protesters

Occupy protesters plan march from NYC to D.C.

Police, demonstrators clash in southeastern Turkey as tension climbs

The rising risk of social unrest

„Over the past five years, the risk of unrest has risen the most in advanced economies”

Thousands protest at White House over pipeline

Russian police break up Occupy-style protest

Some small signs that the ‘Arab Spring’ is spreading into Africa

Crippling general strike in Israel limited to just four hours

ENERGY / RESOURCES

Must read: Hubbert’s Third Prophecy

From Cluborlov; this is a really good read. Here is as good an explanation as you’ll find anywhere about why the global infinite-growth Ponzi-scheme economy is absolutely and irrevocably doomed. Take cover, batten down the hatches, and pray. — RF

Nuclear Industry Fears Fallout from Solyndra Story

Do you still need convincing that nuclear power is a black hole that sucks in money? Any way you look at it, costs are going to accumulate to far more than the world can afford, enough to bankrupt all governments many times over. Ultimately, nuclear waste — spent fuel, burned-out reactors, and all the other radioactive garbage — will be left unattended to contaminate the planet for countless generations. Have a nice day! — RF

Libya oil output to return to pre-war levels next year

Clean energy: Costs rising for California consumers

„Clean energy got a boost from a 2006 California law mandating it. But some clean energy projects are so expensive, they’ll raise consumers’ utility bills for decades.”

How far can solar go? A less-optimistic take.

Will the „economic price” limit oil production?

Gas load-shedding to further dent industry (Pakistan)

Fuel prices hit power units hard (India)

‘Bottom of the tank’ for region’s diesel (US)

„A severe mismatch between diesel fuel supply and demand in Nebraska, western Iowa, Kansas, Minnesota and the Dakotas may last several more weeks and eventually spill over to gasoline as well.”

Long-term supply solution needed (Malaysia)

Gas supplies: Govt warms up to brace impending winter shortages (Pakistan)

Iraq: Agreement Made With Kurds on Oil Contracts

Alabbar says African venture could be worth $20bn

„UAE business tycoon Mohamed Alabbar is keen to tap opportunities in „neglected” Africa and expects his natural resources exploration company to be worth up to $20bn within a decade.”

Prince Alwaleed keen to ‘activate’ Nigeria investments

Everybody is after Africa’s resources. — RF

Diesel shortage leads to fuel rationing (Canada)

Energy bills driven up by battle for energy

Indian Oil considering refinery closures after US$1.5bn loss

„Borrowing issues and government’s decision to not fully compensate Indian Oil for refining losses caused by price controls put refineries’ future in doubt. After publishing its worst ever quarterly results, Indian Oil has warned that the future of its refineries is at stake, as obtaining the necessary funds to keep them running is starting to prove difficult. The company said: ‘It is getting increasingly difficult for us to borrow; we may have to shut down our refineries,’ adding that product availability may become an issue if the current situation continues.”

Hungarian and Balkan power shortages continue

IEA Report Calls for Governments to Embrace Nuclear Power

Texas Wind Power – Good Money After Bad?

National Instruments and Cold Fusion?

It pays to keep in mind that there is no such thing as „free energy.” — RF

High Cost Makes Aviation Biofuel Slow to Take Off

„Biofuel-powered airliners shuttled passengers across the United States for the first time this week, carrying with them the dream of more sustainable aviation fuel. But so far the promise of greener aviation remains elusive, and the industry concedes it is years away from making a significant dent in the billions of gallons airlines consume each year.”

Petrobras Profit Drops 26% on Government Price Controls, Higher Fuel Costs

Russia to cut diesel exports from Primorsk (80%) -sources

„Exporters are reluctant to ship high volumes of some fuels abroad while the government frets about shortages on the domestic market and tries to improve product quality. This is being done at the request of the Energy Ministry,” one of the sources said. They don’t want a fuel deficit on the domestic market, especially in the Moscow region during maintenance at the Moscow Refinery.” According to the International Energy Agency, Russia was the largest single supplier to meet Europe’s structural diesel shortage, with Europe’s net imports from Russia at 1.1 million barrels per day of in 2010. The region’s import requirement is expected to increase to 1.4 million bpd in 2015.

Japan Disaster Towers Over Nuclear Power Industry

Power ships to provide shortage stopgap (Lebanon)

„The Cabinet decided in its session Thursday to go ahead with plans to lease electricity-generating ships and has empowered a ministerial committee to study international bids for the project. But some ministers have already warned that this modest step is insufficient to solve the chronic energy shortage in Lebanon.”

„Depletion of oil reserves is 23 years for India”

Negative feedback: Diesel shortage affects oilpatch traffic

„The shortage of diesel fuel is slowly shutting down the oil industry in southeastern Saskatchewan, according to the owners and operators of trucking and oilfield service companies, whose trucks and equipment run on diesel.”

Plan to hike CNG price again amid protests (Bangladesh)

Brent crude oil may spike above $147/bbl: IEA

„The International Energy Administration (IEA) said on Thursday that if unrest in Africa and Gulf continue, Brent Crude Oil could spike above its all-time high of $147/bbl very easily and this would ultimately put further strain on global economy.”

Zambia copper mines restart production as power resumes

China hunting for energy resources in the Arctic

That we are compelled to hunt for energy resources in such inhospitable regions is testament to how grim the situation has become. — RF

Korea braces for winter power shortage

S. Korea to push 10% power cuts for manufacturers, limit neon sign use

„The move follows massive blackouts on Sept. 15 that affected more than 6 million homes throughout the country and led to nearly 9,000 claims, seeking over 60 billion won (US$53 million) in damages.”

Load-shedding likely to resume in Uganda

„Ugandans can begin to prepare for darker nights in the wake of a warning by Umeme Limited ‒ the country’s principal power distribution company ‒ that 24-hour load-shedding is likely to be resumed. This warning came after the Uganda Electricity Transmission Company Limited (UETCL) had informed Umeme that thermal diesel electricity generator Aggreko had indefinitely switched off its Mutundwe station due to a shortage of diesel to run the power plant.”

France says power outages this winter unlikely

„France should meet its electricity needs this winter despite Germany’s reduced nuclear power production, but the government has not ruled out a large-scale blackout if intense cold causes bottlenecks on the German power grid.”

Escalating mining crisis in Peru

China faces hurdles to developing shale gas

„Energy-hungry China is tapping its vast shale gas reserves to reduce its reliance on dirty coal and imports, but experts warn its lack of technical expertise and scarce water supplies pose challenges.”

Demand for Canadian heavy crude is soaring

The Alarming Results of IEA’s Latest World Energy Outlook

Spare Tyres Ditched As Automakers Seek Efficiency

The high price of energy increasingly leads us into the realm of desperation and vain attempts at solutions, like airlines ditching in-flight magazines. It’s far too little, far too late. — RF

Supply running dry

„A diesel fuel shortage across Western Canada is sparking a scavenger hunt for truckers trying to find stations that still have something left in the pumps.”

Energy Costs to Rise ‘Viciously’ Without Atomic Power, IEA Outlook Says

That would be because not all the costs of nuclear are included in electricity rates. — RF

Aleo Solar Forecasts Full-Year Loss as Nine-Month Profit Drops

„Aleo Solar AG (AS1), a German maker of solar modules, dropped the most in more than two years in Frankfurt trading after it reported an 82 percent decline in nine-month profit and forecast a loss for the full year.”

IEA sees danger in rising oil, coal use

Oil Could Hit $150 a Barrel in Near Term: IEA

Germany Faces Sticker Shock Over Renewable Energy to Replace Nuclear

Biofuels: Not the Savior we Hoped For

‘Power For The Planet’: Company Bets Big On Fusion

Saudi Arabia set to overtake Russia as top oil producer

„Saudi Arabia will overtake Russia as the world’s largest crude oil producer in about 2015 as output at new Russian fields fails to offset fast decline at mature deposits, the International Energy Agency (IEA) said on Wednesday.”

New US offshore oil leasing plan includes Arctic

China took 2 million tonnes of S African coal in Oct

Fuel shortage hits Zambia’s capital, Lusaka

Power surge leaves western Kenya without petrol

China: diesel thieves on prowl

Power cos meet only 1/3 of coal import targets in current fiscal (India)

China Faces Power ‘Squeeze’

Parts of Addis Ababa Facing Water Shortages (Ethiopia)

Nord Stream gas pipeline opened by Merkel and Medvedev

Aluminum Slump Means 25% of Global Smelters Now Losing Money: Commodities

Energy Conversion Devices Suspends Manufacturing Operations

„Energy Conversion Devices Inc. (ENER), a U.S. thin-film solar company, suspended manufacturing and furloughed 400 employees.”

Vestas May Reduce 2015 Wind Growth Targets After Cuts to Annual Forecasts

„Vestas Wind Systems A/S, the world’s biggest wind-turbine maker, may reduce earnings and margins targets for 2015 under its so-called „Triple15″ plan after slashing annual forecasts three times in two years.”

Govt to reduce gas exports to Singapore

„The Indonesian government had planned to reduce gas exports to Singapore to cover a shortage of the strategic commodity in the country, Energy and Miniral Resources deputy minister Widjajono Partowidagdo said Sunday.”

Diesel shortage shuts down fuel pumps (Canada)

Alternative energy: Despite prices plummeting, solar power sees little growth

EU Energy Grid Funding Must Double: Think-Tank

Engen hit by fuel shortages (South Africa)

„Engen confirmed there is an industry-wide fuel shortage with many service stations running on empty in Gauteng on Monday.”

A New Nuclear Age: Thorium Powered Nuclear Plant to be Built in India

It’s highly unlikely this will ever be built. — RF

Restaurant Grease As Good As Gold To Biofuel Thieves (US)

Hyundai Heavy Temporarily Halts Some Solar Panel Production

Most Solar Makers Will Disappear: Trina CEO

„Most of the biggest solar equipment makers may disappear in the next few years as plunging prices erode margins and drive the weakest out of business, according to Trina Solar Ltd. (TSL), the fifth-largest supplier of solar panels.”

The renewable energy industry is starting to crumble already. — RF

Delayed oil industry projects must race to meet demand

Beyond Peak Oil (Ugo Bardi)

INFRASTRUCTURE SCAVENGING

Call for crackdown on metal thefts (UK)

Copper sword stolen from statue at Lincoln’s Tomb (US)

Leeds road in £200,000 cable theft blackout (UK)

Around eight cases of rail cable theft occurring daily

„MPs have been hearing how the rate of attempted cable theft on Britain’s railways has escalated to around eight cases every day. Dyan Crowther, Network Rail’s operations director, said the firm had lost more than £40 million in two years, as incidences of theft spread across the UK. She explained to the Transport Select Committee that cable theft had first started in the North East, but had now spread to the rest of the country.”

‘Up to eight’ rail cable thefts a day (UK)

GOT FOOD?

High prices could trip basmati exports (India)

Softening food prices unlikely to last long (Australia)

‘Honey laundering’ from China through India to America

The Hidden Industrial Food System: Why Beaver Glands and Human Hair May Be a „Natural” Part of Your Food

Corn-harvest estimate cut after Midwest heat wave

Ethiopian Consumer Prices Climb 39.8% in October on Food

Smaller corn harvest could keep food prices high (US)

Uganda: The Rise in Food Prices Has Affected Many Farmers

„To small-scale farmers, this year is likely to rank among the worst on record as their returns continue to drop due to escalating food prices and rising inflation.”

Ecuador Prices Jump Most Since 2009 on Food, Services Costs

Peanut butter prices go up, up, up

Only 20% of winter grain crops to survive winter, says weather center (Ukraine)

Can the oceans continue to feed us?

China’s grain output in danger

„State-owned China National Cereals, Oils and Foodstuffs Corporation, the country’s largest trader of grains and edible oils, plans to spend more than $10 billion on overseas mergers and acquisitions in the next five years. ‘Because of the nation’s limited agricultural resources, we have to look overseas,’ COFCO board member Jiang Hua said.”

Poultry Predators – How to Keep Your Chickens Safe

Drought-Damaged U.S. Corn Crop Pressuring Global Food Supply: Commodities

Short supply of fertilizer may affect rabi crops (India)

Environmental deterioration, the great threat to food supply: UNDP report

ENVIRONMENT / HEALTH

Doctors see surge in newborns hooked on mothers’ pain pills (US)

„Medical authorities are witnessing explosive growth in the number of newborn babies hooked on prescription painkillers, innocent victims of their mothers’ addictions.”

Climate change threatens drop in grain harvest (China)

It’s Official – A Cold La Nina Winter!

Low levels of radioactive particles ‘found in Europe’

Czechs say nuclear iodine not from power plant

„The Czech nuclear security authority has detected radioactive iodine 131 at a number of monitoring stations since late October and made an enquiry at the International Atomic Energy Agency (IAEA) about its possible source, the watchdog’s boss said on Friday.”

Japanese Debris to Start Hitting Western U.S. and Canada THIS WEEK

China concedes it underestimates air pollution levels

World headed for irreversible climate change in five years, IEA warns
Insight: In Greek crisis, HIV gains ground

„‘Contagion’ is the label financial markets use for the economic spread of the Greek crisis. For hundreds of people in an increasingly chaotic society, the word has a deadlier meaning.”

Africa’s Western Black Rhino Is Officially Extinct

A Pyramid To Warn Of A French Nuclear Waste Site?

Such discussions quickly degenerate into the consideration of absurdities. And who could possibly foot the bill for all of this? — RF

Air pollution causing stronger cyclones, study finds

Alaska coast reeling under ‘epic’ Arctic storm

Agencies warn of acute Pakistan floods relief shortfall

Seoul to conduct radiation checks on all roads

U.S. Government Confirms Link Between Earthquakes and Hydraulic Fracturing

Evacuations ordered as floods worsen in Bangkok

INTELLIGENCE / SECURITY / INTERNET / SYSTEMIC BREAKDOWN

‘It makes you think there’s something wrong with the whole system that needs to be fixed’

„In Toronto, some of the country’s leading cancer centres are running out of chemotherapy drugs. From Windsor to Ottawa, pharmacists have seen dwindling supplies of everything from heart and thyroid medications to antidepressants. Doctors are grappling with shortages in common anesthetics and, most troubling, an irreplaceable muscle relaxant needed to intubate patients in an emergency.”

Yes, there’s something wrong with the whole system: it’s called collapse. — RF

A decade on, terrorism tribunals are bogged down

„Duqu Trojan revealed to be shape-shifting serial killer”

Verizon Wireless Service Has Brief Overnight Outages

Bank Websites Hit by Power Outage at Intuit Financial Services

Cities of Europe haunted by euro zone crisis

RIM suffers another BlackBerry outage as Google plans to ax Gmail app

Apple’s Siri voice assistant hit by another outage

HSBC UK server issue causes outage

„HSBC customers in the UK suffered a major ATM and internet banking outage on Friday afternoon due to an issue with a server.”

Internet outages scares global business

„Widespread internet outages and slowdowns lead to immense business shock and concerns across United States and parts of Europe, leading to absolute shut down of various business processes across the globe for some time.”

Big energy accused of mind games for shale

Border Surveillance Plan Stumbles as Two-Thirds of Mexico Declared Unsafe

Hackers Hijack Millions of Computers in ‘Massive’ Fraud Case

Chinese military uses wide network of female spies

Anonymous 101: Introduction to the Lulz

Pentagon Debates Cyber-War Offense

Oil Executive: Military-Style ‘Psy Ops’ Experience Applied

Chinese hackers hitting many more places than Japan

Feds Seek Unfettered GPS Surveillance Power as Location-Tracking Flourishes

Lawmakers: Counterfeit electronics flood Pentagon supply

„China is dumping counterfeit electronic parts into the Pentagon’s supply chain, two senior lawmakers alleged on Monday, putting U.S. troops at risk and undercutting the American economy.”

Darpa Begs Hackers: Secure Our Networks, End ‘Season of Darkness’

Mossad, IDF Websites Online After ‘Server Crash’

JAPAN

Japanese researchers see future of oil in beakers of algae

They had better take off the rose-colored glasses and look again. — RF

Noda calls for early resumption of gas treaty talks with China

„Japanese Prime Minister Yoshihiko Noda on Saturday called for an early resumption of stalled talks with China toward signing a treaty on a joint gas development project in the East China Sea.”

Japan, Russia agree to discuss territorial dispute in ‘quiet atmosphere’

Quiet atmosphere or not, Russia is not returning the islands. — RF

Japan’s GDP grows annualized 6% in July-September

Don’t get excited. Japan is already doomed by expensive energy and the iron shackles of debt. — RF

Japan Fukushima Reactor: Eight Months After Nuclear Disaster, Plant Remains In Shambles

Eyewitness report – inside the wreckage of Japan’s Fukushima nuclear reactor

Explosion at Fukushima plant’s No. 4 reactor caused by hydrogen backflow: TEPCO

Radioactive cesium spread as far as Gunma-Nagano border

Trading houses grab foreign natural resources

„Japanese trading companies are taking advantage of the soaring value of the yen to invest in foreign natural resources.”

Panasonic plans to slash jobs, semiconductor output

„Panasonic Corp. said Nov. 10 that it plans to cut about 1,000 jobs by the end of March 2012 at its five semiconductor plants in the nation through an early retirement program.”

Will Fukushima Bankrupt Japan?

Even without accidents, nuclear can bankrupt nations if they pay the cost of managing nuclear waste for 100,000 years. — RF

Fukushima: Calm at J. Village belies the danger

Electricity shortages could mean chilly winter for some

Caterpillar shifts manufacturing from Japan

Toyota Stock Dips To 15-Year Low On Yen Fears

Tohoku recovery bond redemption put at 25 years

Reconstruction in the way they think will never happen, and the debt will never be paid back. — RF

Shinsei Bank Sees 30% Slump In Jul-Sep Net Profit, Uncertain Over 2H

Japan corporate orders, mood sink; tough Q4 seen

Cyberattacks hit Fujitsu system used by 200 local governments

MHI N-plant data compromised / Infected server leaked plant designs during recent cyber-attacks

Domestic Syndicated Loans Hit Record Y11.4tln In April-Sept

6 automakers report drop in sales, net profits

Japan sees record number of welfare recipients

BOJ policymaker warns of heightening risk to Japan

Can big business save Japan’s fishing industry?

Big business is supposed to save farming, too. I see disaster in the offing. — RF

Honda plants continue to cut output

„Honda Motor Co. said Tuesday it will continue halving production at its North American plants through Nov. 25 as flooding in Thailand has disrupted the supply of some key electronic parts sourced from the country.”

Surplus dives 47% in 1st half / Drop marked as exports shrink following March disaster

Japan’s debt to exceed 1 quadrillion yen: report

„Japan’s national debt is on track to exceed 1 quadrillion yen ($12.8 trillion) by the end of the fiscal year next March.”

Toyota’s net profit plunges 71.8% in first half

„Japan’s biggest automaker Toyota on Tuesday said first-half net profit tumbled 71.8% from a year earlier due to the impact of the March earthquake and tsunami on production, and to a strong yen.”

Drive to ax car taxes revs up / Auto industry leaders talk of ‘sense of crisis’ as sales stagnate

Japan Buys More of Euro Bailout Bond

A desperate bid to prop up export markets. — RF

Debt crisis pushed Japan’s bourses toward merger

„The global decline in stock prices triggered by the European debt crisis has been critical in forcing the Tokyo Stock Exchange and the Osaka Securities Exchange toward their planned merger.”

Current Account Surplus Shrinks Again In September

Tohoku recovery bond redemption put at 25 years

Half-Life Of Latest BOJ Intervention – One Week

Tight power supply-demand balance expected in Kansai and Kyushu this winter

Residents sue over Tsuruga reactors

„A group of about 40 people sued Japan Atomic Power Co. on Tuesday seeking a provisional court order not to restart two reactors at its Tsuruga nuclear power plant on the Sea of Japan in Fukui Prefecture.”

90% of Fukushima candidates want N-reactors scrapped

Tepco Lists Fuel Needs To Make Up For Nuclear Loss

„Tokyo Electric Power Co on Friday projected it will consume a record 22.6 million tonnes of liquefied natural gas (LNG) in the financial year to next March, 3.14 million tonnes more than a year earlier, to make up for lost nuclear power output.”

Jobless claims quadruple in disaster zone

Thai floods to hurt Japan food supply

„The massive floods in Thailand are expected to affect food supplies in Japan, which imports large quantities of chicken and shrimp, as well as food packaging materials, from the Southeast Asian country.”

Automobile industry calls for major tax breaks

Toyota earnings to reflect production disruptions

600 kgs of rice stolen in Yamagata

Rice theft is actually nothing new in Japan. But higher prices are a new incentive. — RF

Luxury goods selling well at department stores

The well-heeled are still spending, but for how long? — RF

CHINA

China: Nearly 1,000 Real Estate Outlets Close in Beijing

China property market dip may have global impact

Thai floods push up pre-husked rice prices

„Shortly after the beginning of its harvest, the second crop of rice in Changhua and Yunlin Counties yesterday became the apple of buyers’ eyes, with prices hitting an all-time high as a result of a shortage in the aftermath of the devastating floods in Thailand.”

Power shortages on the way (China Daily)

„So far this year, China Datang Corp, a leading electricity producer that owns four publicly traded subsidiaries, has recorded a deficit of 3 billion yuan, and that figure is likely to climb to more than 4 billion yuan over the whole year, an unnamed company source told the China Economic Times. The source said the group is heading for its worst loss since 2008. Meanwhile, 67 percent of Datang’s coal-fired plants are in the red, with 30 of them on the verge of bankruptcy.”

Oil Riches Languish on China’s Doorstep

‘Naked marriages’ on rise in China

„As costs soar in the cities, more couples in China are opting for ‘naked marriages’ – those without the once-required trappings of a house, a car, and other goods.”

Why China is headed for a fall

Sinopec Adds to Brazil Assets With Purchase of Galp Unit

‘Chinese cotton imports surge 163% to 252.3 Kt y/y’

CPI growth in China dips below 6% as economy slows

Baseball bat is a hit as a defensive weapon in China

„‘I need it for protection,’ said Wang, 32, a native of Inner Mongolia who hauls heavy equipment across busy northeast highways stalked by thugs looking to steal loads and siphon fuel. ‘There’s local hooligans everywhere and they’ll threaten you if you don’t pay them money.’”

One might be forgiven for mistakenly thinking this is an article about Mexico. — RF

500 Taxi Drivers on Strike in Luohe, China

October export growth slowest in 8 months

China’s Economy Threatened by Water Shortages

Chinese Steel Production Falling Fast: What Does It Portend?

China factories being pushed over the edge

„It looks like game over for thousands of mainland manufacturers as a 20 percent hike in the minimum wage coincides with a 30 percent drop in orders.”

China may live with power shortages this winter (Xinhua)

„Some parts of central and south China are facing power cuts and electricity rationing as soaring coal prices discourage power plants from producing at full capacity, heightening concerns that the country has to live with power shortages over the next few months.”

Spotlight China: Shipping Downturn; Hong Kong Recession; Credit Squeeze PromptsSuicides; HK Home Sales Fall Over 50%; Factory Closure Wave Looms (Mish)

Some Things You Should Know About China

Heavy Metals Pollute A Tenth Of China’s Farmland-Report

„About one tenth of China’s farmland is polluted by lead, zinc and other heavy metals to „striking” levels exceeding official limits, a government expert said according to reports on Monday.”

Artist Ai Weiwei getting donations that send message to China’s leaders

„Ever since Ai Weiwei was slammed with a $2.4 million tax bill, donations have been flying over the wall of the provocative Chinese artist’s compound in northeastern Beijing.”

China morning round-up: Railway denies bail-out call

China’s Yield Curve Inversion Signals Sharp Slowdown Ahead

Price declines hit China real estate firms

China’s Gold Imports Jump Sixfold

Real estate meltdown fears

Poly home sales tumble 39.27% in Oct

Shanghai Plans Nov. 15 Bond Sale

Singapore banks continue to lend more to China

Govt urged to open up crude oil import market

„Some of the country’s private-held oil companies are clamoring for the relaxation of the tight government control of crude oil imports to alleviate the widespread chronic diesel shortfalls during seasonal spikes.”

Housing Drop Threatens China Growth

„As much as 25% of the Chinese economy may be tied up in real estate and related industries, according to analysts.”

China bolstering cyber defenses for modern-day warfare

Meanwhile „Global Bailout Fallback Plan B” China Is Pumping 1 Trillion RMB Into Its Banks

China Takes Advantage Of September Price Drop; Imports Record Amount Of Gold

UK

Pension fund investment sought by ministers to stimulate economy

„Ministers are finalising a radical plan to boost investment in UK infrastructure and stimulate the economy, with proposals to pool the vast assets held in British pension funds and use them to back an ambitious programme of road and house building.”

Child poverty warning as cuts threaten to close 3,500 Sure Start centres

Two-thirds support social networking blackout in future riots

If the eurozone implodes, Britain will go with it

UK’s Uncut: A Model for Occupy’s Future?

Anti-capitalism protesters outside Cardiff castle

Eurozone crisis will hit UK hard, warns Cameron

High fuel prices will put people out of business

London protests: police put a stop to Trafalgar Square ‘tent city’

„Police stepped in to prevent another „tent city” being set up in central London yesterday after protesters attempted to occupy Trafalgar Square.”

Pharmacists sound alarm on UK medicines shortages

Retailers fear for Christmas sales as high street suffers in the gloom

Leaderless Lloyds May Miss Targets After Q3 Loss

Pension deficit cut to £158.6 billion

„Private sector pension funds are facing a deficit of some £150 billion more than a year ago, although the situation has improved over the last month, figures from the Pension Protection Fund (PPF) showed today.”

British troops plan larger role in Helmand to cover US withdrawal

Scrap fuel duty rises, Chancellor told

USA

Fuel assistance looking sparse

„Official: Rude awakening awaits”

Ripples from Europe starting to hit US shores

CNN cuts 50 staff members

Frontier ups job cuts announcements to 220

The Weird Status Symbol That Keeps Your Home Warm

Until you run out of fuel… — RF

Supercommittee Debt Deal Appears Elusive

During a Drought, Texas Farmers Face a Severe Hay Shortage

Feds use more unmanned aircraft to secure border

Super Committee Could Give Markets a Super Headache

Rockford, Ill., Shuts Off Streetlights To Save Money

Collapse could happen, literally, overnight (book review)

Poor Sick People: U.S. Offers Raw Deal for the Unhealthy

„If you’re very sick and not very wealthy in America, your best move may be to just flee the country.”

How the U.S. Is Becoming a 3rd World Country – Part 1

America faces soaring rate of abandoned, starving, dying horses

Stocks soar amid progress in Europe; Dow back above 12,000

Pump, baby, pump! — RF

MF Global fires brokerage staff en masse

Farmers warn of shale gas drilling

„Two Pennsylvania farmers who leased land to shale gas drillers in their state and dreamed of a big payoff painted a bleak picture of the gas industry Thursday.

„Carolyn Knapp and Carol French warned that if North Carolina permits drillers to explore here, residents can expect conflicts with neighbors, lawsuits with gas companies, health complaints, a spike in crime and ruined property values.”

Municipal bankruptcy in Alabama: Will other local governments follow suit?

„Beyond the dozens of US municipalities that have already defaulted on bond payments this year, hundreds of others are being crushed by gold-plated union contracts and municipal-bond refinancing deals that blew up in the real estate crash of 2008.”

Fed to conduct fourth round of stress tests on largest banks

Calif. Revenue Off by $1.5B: Controller

U.S. Wind Market Set to ‘Fall Off a Cliff,’ Vestas CEO Says

Hotel Foreclosures to Have ‘Huge Increase,’ Sonnenblick Says

„There will be a ‘huge increase’ in U.S. hotel foreclosures next year as debts come due and little financing is available, said Robert Sonnenblick, a hotel developer. The wave of commercial mortgage-backed securities needing replacement debt ‘is going to be a close-to-catastrophic problem.’”

Why Americans Won’t Do Dirty Jobs

So many things are going to change in the near future. — RF

Shipping Thieves at Large: A Cargo Theft Review

„Cargo theft rates have consistently grown over the past five years, in some cases at an exponential rate. It’s no wonder that supply chain pros see this growing threat as a risk to their operations.”

The Toll on Parents When Kids Return Home

Las Vegas no longer No. 1 in foreclosures. Can it last?

Foreclosure backlogs could take decades to clear out

Was Meredith Whitney Right All Along? Jefferson County, Ala. Files Largest Muni Bankruptcy

Of course she’s right, as I have consistently maintained. Growth is dead, and the muni bond bust is just getting started. Keep watching for that inevitable storm of defaults. — RF

For Bank Of America, Debit Fees Extend To Unemployment Benefits

Thanksgiving Dinner’s Pricetag Rises 13 Percent This Year

Diesel fuel shortage hits state (Nebraska)

„The shortage particularly is bad in the Lincoln area. One of the two fuel terminals south of Lincoln hasn’t had any diesel fuel for at least a month, Garner said, and the other has had sporadic supply that runs out in a couple of hours.”

Jefferson County Files Biggest U.S. Municipal Bankruptcy

Stock plunge continues as European fears grow

Euro crisis chills Detroit car makers

„Risks multiply when you extend your reach overseas. For U.S. car makers, their European operations are suddenly looking downright treacherous.”

Occupy Protesters Hold ‘Super Committee’ Hearing In D.C.’s Freedom Plaza

SWAT teams dispatched as gun battle unfolds near Escobares

„Gunmen crossed the Rio Grande into the United States near a shootout between where the Mexican military and a group of gunmen was taking place.”

Cost to house a captive at Guantanamo Bay is $800,000

Adobe Systems to cut 750 jobs

South Florida overflowing with underwater mortgages

New Foreclosures Smash Albuquerque, Boston, Sarasota, And Cincinnati

The great $26 billion real estate swindle: Pity anyone who took the tax credit to buy a house

How to Confront the Talent Crisis in Manufacturing

„The results of a recent survey of U.S. manufacturers conducted by Deloitte with the National Manufacturing Institute highlight a worsening talent shortage that threatens the future of the industry.”

European Crisis Hits US Bank Lending

Rochester, suburbs witness painful increase in number of poor

Late Mortgage Payments Rise For First Time In Years

Half of US Mortgages Are Effectively Underwater

Home Prices Down 4.4% From Last Year, More Declines Expected

650,000 Americans Joined Credit Unions Last Month — More Than In All Of 2010 Combined

Global demand sets pace on gas prices

Toledo to demonlish record number of abandoned houses

Too Big To Fail Casino Banks Make $518 Billion Bet On PIIGS Sovereign Debt

Companies Use Low Rates to Issue Buckets of Debt

Wall Street Pay Expected to Fall 20-30 Percent

Retirement Crisis Closes In on Baby Boomers

Next In Line for Implosion: Pension Plans

„Pension plans are based on 8% annual growth forever. What happens to these plans in a zero-interest rate world as the global economy and stock markets contract?”

Global income inequality: Where the U.S. ranks

Financial literacy is a big, fat Wall Street hoax (Paul Farrell)

Cargoes to U.S. Drop for First Time Since ’09 as Confidence Wanes: Freight

U.S. imports on the world’s biggest trading route are dropping for the first time in almost two years as consumer confidence weakens to the lowest level since the recession that ended in 2009.

Crumbling Bridges’ $140 Billion Tab Leaves Business Paying Price

Transmission-Line Project ‘Essentially Out of Funds,’ Energy Watchdog Says

If they can’t even finish this, how are they going to build a continent-scale smart grid? — RF

„The Energy Department didn’t have enough safeguards to ensure protection of the $161 million the U.S. government invested in a transmission line that’s now two years behind schedule, the agency’s watchdog said. „

Banks Mum on Customer Switches

Credit unions report uptick in accounts on Bank Transfer day

Why Bank Transfer Day actually helped banks

Koch brothers: secretive billionaires to launch vast database with 2012 in mind

If Rome burns, U.S. will feel the heat

„Interest rates approaching 7 percent. At those rates, the cost of periodically rolling over Italy’s $2.6 trillion in outstanding debt would quickly swamp its already strained budget. (…) U.S. banks have written about $400 billion in CDS contracts on European sovereign debt, according to the Bank for International Settlements. Those payouts would be triggered if Greece or Italy defaults. „Italy has much more systemic implications than Greece, its debt is larger than the rest of the periphery put together, it is too big to fail, too big to save,”

New data show grim picture of poverty

Downturn takes heaviest toll on younger Americans

INFOGRAPHIC: You Won’t Believe How Much Your Commute Actually Costs You

Shift to Contract Work Hits State Workers

Buffett goes on $20 billion stock buying spree

Consumer Credit Rises As Uncle Sam Funds More Subprime Car And Student Loans; Revolving Credit Drops

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