Tygodniowy przegląd wiadomości ze świata: 14-20.11

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.


European Black Swan Sighted

Greek PM heads for Brussels to try to secure cash

Run from debt to cash sparks sell off

Buyers Of Last Resort: As Dumping Accelerates, Here Is Who Is Stuck Buying Another €741 Billion In Italian Bonds

EU Paper Offers Options for Issuing Common Euro Bonds

Anger rises as MF Global clients see billions frozen

Will Cameron Sell UK Down the River for Worthless Promises?

German Finance Minister Says UK will Join the Euro, Financial Transaction Tax Needed; Two-Speed Europe and the Clutches of France

Dubai retailers struggle as mall rents pinch

Euro Area Is Running Out of Options to Fix Crisis, Finland’s Katainen Says

Greek bailout deal hits new obstacle: reports

Greek „Unity Government” Effectively Collapsed Already; Showdown Underway; New Democracy Party Wants Rollbacks on Austerity Measures

There’s No Getting Around It, Germany Is Taking Over Europe

Germany tightens the screw on ‘isolated’ Britain as tensions soar

Eurocrats threaten strike as eurozone faces disaster

„Brussels bureaucrats have been criticised for threatening strike action to protect generous pay and conditions just as the European Union is embroiled in the eurozone crisis.”

Seven banks sued over MF Global collapse

If Someone In Europe Owes You Money, You Must Find A Copy Of This Report

European Stocks Decline for a Second Week in Three as Debt Crisis Spreads

Either the ECB Prints and Germany Walks… or the EU Sees a Domino Debt Collapse Followed by Systemic Failure

Asia awaits data from Japan, China

Malawi Government is broke but blames it on tax evasion

„Reports are widespread of rationing and delay of salaries in some departments, failure to pay civil servants allowances, shortage of stationery and grounding of vehicles, among other signs of trouble in government finances.”

Looming skills shortage in the Australian workforce over the next decade

Spain Credit Crunch Deepens

„Data released Friday by the Bank of Spain showed that some €48.4 billion in credit was removed from the Spanish economy over the past year through September. The decline was the biggest on record in the country since the central bank began to track lending growth in 1962.”

Italy too big to fail? Odds are it’s too big to save.

„With an economy seven times bigger than Greece, Italy could cost the eurozone €1.2 trillion if it requires a bailout like Greece’s. That’s more than Europe’s emergency coffers have, even with leverage.”

Ireland: „Germany Is Our New Master”

Who Will Collect Greek Taxes?

Stocks end the week going nowhere and Europe is still in crisis

October Euro Deal Was ‘Confidence Trick That Failed’ (CNBC)

„The three-pronged deal reached by European leaders in October aimed at preventing the euro zone debt crisis from spreading further did no more than „trick” markets into thinking a lasting solution had been found and has in fact made matters worse, Nomura’s Bob Janjuah said on Friday.”

1 Through 30 – The Coming U.S. Financial Crisis By The Numbers

ECB president takes hard line on eurozone

Energy drives up Canada’s cost of living

Toronto’s worst weekly loss in eight weeks

Global systemic crisis: 30,000 billion US dollars in ghost assets will disappear by early 2013 / The crisis enters a phase of widespread discounting of Western public debt

Words of a Euro Doomsayer Have New Resonance

„The euro zone was crumbling, just as he had long predicted, yet Bernard Connolly, Europe’s most persistent prophet of doom, still faced a skeptical audience.

„‘The current policy of lending plus austerity will lead to social unrest,’ Mr. Connolly told investors and policy makers at a conference held this spring in Los Angeles by the Milken Institute, arguing the case that Greece, Italy, Portugal and Spain could not simply cut their way to recovery.”

Emerging-Market Stocks Post Biggest Weekly Loss Since September on Europe

Asian Stocks Fall for Third Week on Europe Crisis, China Property Concerns

London Stock Exchange Becomes Lender of Last Resort to Italian Banks

Max Keiser interviews Mish (video)

Spanish Banks Have $41B of ‘Unsellable’ Real Estate

Singapore Oct exports worse than feared, electronics plunge

Singapore is one of the last places I’d want to be when TSHTF. — RF

Euro Heads for Third Straight Weekly Drop as Sovereign Debt Crisis Spreads

A Look at the Troubling Trend in French Bond Yields

Spain’s borrowing costs hit 14-year high

Official Denial Signals Spanish Bailout Imminent; Dreadful Result in Spanish Bond Auction, 6.975% Yield on 10-Year Debt; Merkel says „ECB Cannot Solve Euro Crisis”

Stocks and commodities get crushed as Europe goes to the brink

Construction spending slides in Europe

U.S. Airline Group Looks to Block Air India Funding

„Capitalism At A Tipping Point” (Forbes)

„Given the sovereign and bank crisis in Europe and the absolute need to institute severe fiscal cuts in the U.S. ‘tipping point’ is not such a great exaggeration as you might expect.”

IMF Downgrades Portugal GDP Outlook to -3.0%; Barclays Capital Cites Downside Risks

The lamps are going out all over Europe

Video. A pithy and acerbic observation on the beginning of the end for Europe. — RF

Watch Nigel Farage Dance On The Euro’s Grave (video via Zero Hedge)

JPMorgan Joins Goldman Keeping Italy Derivatives Risk in Dark

Payback Time – The Coming Decade Of Deleveraging

Forget About Italy and Greece, Spain Next on Agenda

Citi Chief Economist Willem Buiter: A Spanish Or ItalianDefault Could Happen In A Few Short Days

Europe debt crisis spreads to stronger economies

Bond Market Gives Overwhelming Vote of „No Confidence” in New Greek Technocrat Prime Minister

Greek health ministry power cut off

„A Greek electricity workers’ union has flipped the switch on the country’s health ministry building in Athens in protest at unpaid state bills.”

European Government Bond Market „Frozen” says Bank of Italy Managing Director; ECB Steps in But Rally Fails to Hold

Hellish week for Indian aviation: No fuel, no food and fuming flyers

Record loss declared by Union Properties (Dubai)

We’re In The Middle Of A Run On Europe—And It’s Gonna Get Worse

Italy Opts Not To Release Preliminary GDP Data As It Sets Off To Raise $600 Billion In Debt In 2012

Gold is the only winner from the euro crisis

Bank of America cuts team in Dubai by 40%

Sovereign Debt Yields and Spreads Soar Everywhere: Belgium, France, Italy, Spain, Ireland; Major Problem List is Every Country but Germany; Belgium Spread Inverts Significantly

Crises in Greece and Italy mask looming zombie debts

ADB urges Asia to help rescue eurozone

Four Main Reasons Europe is Likely to Collapse

• The European banking system is leveraged at 25 to 1 (twice that of the U.S. e.g.) so a 4% decline in equity wipes out capital!

• European financial corporations operate with debt of 148% of total EU GDP!

• Euroland banks have to roll over from 15% to 50% (depending on the bank) of their total debt by 2012.

• Many Euro nations have massive unfunded liabilities. The typical Euro nation would require 400% of its GDP to be banked earning interest to cover these… not possible.

Greek leader says debt deal must pass soon to avoid default

Greece, EU head for showdown over bailout pledge

„Greek conservatives set themselves on a collision course with the European Commission on Tuesday, refusing its request to sign a pledge to meet the terms of a bailout designed to save the country from bankruptcy and safeguard the euro zone.”

France draws fire after „alarm bells” warning

„France came under heavy fire on global markets Tuesday, reflecting fears that the euro zone’s second biggest economy is being sucked into a spiraling debt crisis after a warning that Paris’s failure to adapt should be „ringing alarm bells.””

German ZEW Economic Sentiment Index Falls Sharply Again in November; Europe Already in Recession, Expect it to Dramatically Worsen

More on Italy’s impossible debt reduction

Swaps Market Up 18% In 1st Half

„The gross nominal value of privately traded derivatives in force globally rose 18% in the first half of this year, to a record $708 trillion by the end of June, according to figures released Tuesday by the Bank for International Settlements.”

European Funding Crisis Accelerating

IMF Calls for China Banking Revamp

SocGen To Cut Hundreds Of French Jobs To Lift Capital-Unions

No Stopping Technocrats Rule as Debt Crisis Brings Down Europe Governments (Bloomberg)

Asian Stocks Fall as Default Swaps Rise on European Debt Concern

Europe could be in worst hour since WW2: Merkel

Italy pays record debt interest on new bonds

Two Ominous Market Parallels To 2008

European Debt Crisis: You Haven’t Seen Anything Yet

Greece’s New Coalition Is Already Divided Over Austerity

BlackRock Calls for Steeper European Debt Writedowns

„Debt restructuring in Greece, Portugal and Ireland with write-downs for private creditors of 75 percent to 80 percent are needed to help stop Europe’s debt crisis turning into a global meltdown, said BlackRock, one of the world’s largest asset managers.”

There Is ‘No Way Out’ for Europe: Economist

The Credit Crunch That Richard Koo Warned Us About Has Arrived Exactly As He Predicted

Pain returns to Spain as yields jump

Indian Airlines Reel Amid Financial Stumbles

„The rapid expansion of the commercial-aviation sector in India during the past decade has symbolized the nation’s economic progress. But the dire combination of rising costs, sinking ticket fares and unsustainable levels of debt has left the industry reeling and looking to the government for help.”

Party over for India’s ‘King of Good Times’ Vijay Mallya?

„The party may be over for India’s ‘King of Good Times’, Vijay Mallya, the flamboyant Indian liquor and Formula One racing tycoon, whose debt-ridden Kingfisher Airlines is threatened with collapse.”

Poor states have less wiggle room as risks rise: IMF

„A sharp slowdown in world growth would increase the risk of recession in poorer countries, whose budgets have barely recovered from the last economic slump just two years ago, the IMF said on Monday.”

The IMF never ceases to amaze with its perspicacity. — RF

Lakshmi Mittal, the King of Steel, Trips Up

„ArcelorMittal, his steel colossus, is burdened by overcapacity and debt”

Industrial output growth slows to 2-year low (India)

Maersk warns of container shipping overcapacity

Black swans attack

The quotes are priceless. — RF

Spending slide spreads: Westpac (Australia)

Ron Paul: „It Is Estimated That US Banks Have Over A Trillion Dollars Tied Up At-Risk With German And French Banks”

The World Is Drowning in Debt, and Europe Laces On Concrete Boots


Iran tests passive radar in aerial drill: commander

Arab League deadline for Syria passes, as 24 more reported killed

U.S., China face off over sea dispute

China rebuffs U.S., Asia pressure in sea dispute

China Denies Impeding Asian Maritime Trade

Philippines Urges Action on China’s Maritime Moves

Death toll rises in Syria despite Arab League deadline

Hijackers take two boats, hostages, off Nigeria: sources

Spanish Right heads for biggest election victory in decades

Killings triple in once touristy Acapulco

Afghan National Assembly Endorses Long-Term Security Deal With U.S.

Japan, wary of China, boosts ties with ASEAN

Old U.S. Foe Proves Useful in Asia (Vietnam)

Boeing delivers first batch of 30,000-pound bombs to Air Force

Pentagon successfully tests hypersonic flying bomb

„The Pentagon on Thursday held a successful test flight of a flying bomb that travels faster than the speed of sound and will give military planners the ability to strike targets anywhere in the world in less than a hour.”

Israel on way to becoming only ‘democracy’ without free press

„A heavy-handed majority in the Knesset seeks to further tighten the censorship noose by means of an amendment to the law that would make it possible to sue a newspaper for libel, without having to prove damages.”

Pirates hijack Chevron vessel off Nigeria: sources

Gas shippers face new threat from marine pirates

Tensions Increasing Over Caspian Energy Riches

Top U.S. senator unveils a legislation to impose sanctions on Iran’s central bank

Syria agrees ‘in principle’ to allow Arab League observers in

Report: Russia warships to enter Syria waters in bid to stem foreign intervention (Haaretz)

Israeli Attack on Iran Would Include Targeting Civilian Infrastructure

Nikolai Makarov, Russia Military Chief, Sees Rising Risk Of Nuclear Conflicts

US assures Philippines of 2nd warship amid South China Sea territorial disputes

„The United States will provide a second warship to the ill-equipped Philippine military as it confronts China in increasingly tense territorial disputes in the South China Sea, Defense Secretary Voltaire Gazmin said Thursday.”

Armed Groups Are on Rise in Syria, as Are Civil War Fears

Russia stands by Assad as pressure mounts on Syria

Airstrike Against Iranian Nuclear Facilities Could Kill 100s of North Koreans and Russians

Saudi royal family split by Crown Prince appointment

„The tightly managed Saudi royal family has been split by the decision to appoint a hardline conservative as Crown Prince, with a senior prince resigning from its innermost council.”

U.S. ties geopolitics to energy

Pakistan’s US ambassador ‘offers to resign’

„Hussain Haqqani denies asking for US help on behalf of Pakistan president to stop possible coup by army.”

Manila rejects new Chinese claim to territory just 50 miles away from Philippine province

„China has claimed new territory less than 50 miles (80 kilometers) from a Philippine province, boosting tensions over potentially resource-rich areas of the South China Sea, but the Philippines has dismissed the claim, an official said Monday.”

Israel to help Kenya fight al Shabaab militia

U.S. Denies Assisting Kenyan Forces Against Shebab

Modern-day highway robbers costing industry billions

„Cargo crime — where consumer goods are stolen in transit — has risen dramatically over the last decade, according to logistics security specialists Freightwatch International. It says the number of known cases (robberies) worldwide has increased by an average of 10-15% year on year.”

Piracy: UN team to visit Nigeria, other countries

France launches Gulf of Guinea anti-piracy operation

Obama boosts U.S. military presence in Australia

Syria defectors ‘attack military base in Harasta’

Arab League pressure builds on Syria

Arabs, Israel to attend nuclear talks, Iran uncertain

Germany to set up neo-Nazi registry after ten murders

Attacking Iran? Not Just Yet

„That Iran is keen to acquire the know-how capability of assembling a bomb, as the report indicates, is nothing new and was in fact predicted by the Israeli Intelligence agency back in 1995. In addition, the current speaker of the Iranian parliament, Ali Larijani, had also, perhaps unintentionally, made this objective crystal clear during an official visit to Tokyo in February 2010 when he stated that Tehran wants to develop nuclear capabilities ‘similar to those of Japan’. Japan does not have nuclear bombs of its own, but the lead time for the Japanese armed forces to assemble a bomb is 24 hours, and thus Larijani’s remarks did indeed shed lights on the nature and scope of Iran’s nuclear posture.”

Europe to Israel: Military strike on Iran nuclear program not an option

Saudi Prince Rebuffs Talk of Strike on Iran

„Saudi Arabia’s former intelligence chief said Nov. 15 his country opposes any military strike on Iran, amid rising tensions over the Islamic republic’s nuclear program.”

Arab League meets Assad foes after 69 die in Syria

OK, now both the Arab League and the Iranians have met with the anti-Assad camp. — RF

Syria protests: Arab League consensus paves the way for UN sanctions

Turkey on brink of open confrontation with Syria

„Turkey was on the brink of open confrontation over its border with Syria on Tuesday night, announcing its first economic sanctions against Damascus and saying President Bashar al-Assad’s regime was ‘on a knife-edge’”.

Palestinians will keep knocking on U.N.’s door

China Resists Sea Discussion at Summit

Clinton in Manila amid ASEAN row over South China Sea

„The Philippines criticized fellow Southeast Asian nations Tuesday for failing to take a united stand against China over maritime rights in the South China Sea, a crucial commercial shipping lane thought to contain valuable oil and minerals.”

Nicaragua’s top cop, who once wanted to be a nun, fends off drug gangs

India test fires most advanced missile

Report: U.S. pivoting to Asia

As U.S. prepares to leave Iraq, Iran’s shadow looms large

„U.S. military officials warn that Iran will fill the vacuum created after American troops depart. They are recommending several moves in response, including shifting some of those troops to Kuwait.”

Iran missile development commander killed in explosion

„An explosion at a Revolutionary Guard base in Iran killed a senior commander in charge of the country’s missile development programme, the authorities have said, prompting speculation Mossad, the Israeli intelligence service was involved.”

Israel launches new missile that can reach New York and Tokyo (Pravda)

Assad should quit, says King Abdullah as pressure mounts on Syrian regime

Iranian officials meet with Syrian opposition

„Iranian officials have held talks with Syrian opposition leaders, in a dramatic sign of the growing isolation of the regime of President Bashar al-Assad.”

Iraq, Iran Top Brass Pledge Border ‘Cooperation’

„Top generals from Iraq and Iran, which fought a bloody eight-year war in the 1980s, have discussed ways of bolstering military „cooperation” along their common border, the state-run television website reported Nov. 14.”

France Warns Against Military Intervention in Iran

„The French foreign minister warned Nov. 14 that taking military action against Iran over its nuclear program would drag the world into an ‘uncontrollable spiral.’”

U.S. Hiring Mercenary Air Force for Iraq Rescues

30,000-Pound Bunker Buster Bomb Now Ready


Army, police charge Egypt protesters who vow to stay

„Police backed by the army used batons and teargas on Sunday to charge protesters in Cairo’s Tahrir Square demanding Egypt’s ruling generals swiftly hand power to civilians, in some of the worst violence since the overthrow of Hosni Mubarak.”

Thousands of Moroccans call for election boycott

„Thousands of Moroccans protested in cities across the country on Sunday calling for a boycott of a parliamentary election later this week which they say will not be truly democratic.”

Swiss party calls for „Occupy” from igloos at Davos

„A Swiss youth party called on activists on Sunday to stage an ‘Occupy’ World Economic Forum protest from igloos when the global elite descend on the ski resort of Davos for their annual meeting in January.”

Protest flares in east Afghanistan against U.S. deal

Insight: Tibetans in China seek fiery way out of despair

Animal feed factory in Britany France occupied

Occupy Cardiff sets up new camp at Transport House

VIDEO: After Pepper-Spraying, A Powerfully Silent Protest At UC Davis (includes video of original incident)

Officers in Pepper Spray Incident Placed on Leave

The Unlikely Outposts of Occupy Wall Street

„Banned from Zuccotti Park, but coming to a resort town near you”

Egypt riot police drive out protesters

One dead, more than 600 hurt in Cairo clashes

Bahrainis protest death of youth hit by police car

Occupy UK converges on London

Occupy protests spread to US college campuses

Police warn about mob attacking people in downtown Denver (includes video)

„There have been 16 assaults and robberies over three months starting August 1, by a group of people in their teens and early twenties.”

Hundreds held in Occupy protests across nation

„More than 70 are arrested in downtown L.A., and several unions call on the city to let protesters stay at a bank plaza on Bunker Hill. At a march in Manhattan, 200 are taken into custody.”

Media Can Avoid NYPD Arrest By Getting Press Pass They Can’t Get

Video: NYPD Rallies to Keep Occupy Wall Street Out of the NYSE

Occupy London protesters take over empty UBS bank offices

12 arrested on I-84 on ramp in economic protest

Irate mob attacks MSEB office (India)

„An irate mob, consisting of suspected CPM activists, today stormed into the MSEB office in Talasari here and tried to thrash an engineer, police said. The mob was angry over frequent power failure in the area and long-pending electricity-related projects.”

In pictures: Italy protests

Kuwait’s emir orders security crackdown after protests

This Is What Revolution Looks Like (Chris Hedges)

„Welcome to the revolution. Our elites have exposed their hand. They have nothing to offer.”

Anti-Wall Street protesters snarl Los Angeles freeway traffic

Occupy London protesters defy notice to leave St. Paul’s

Occupy protesters take on NYC, march nationwide

Occupy the Skies! Protesters Could Use Spy Drones

Occupy Protest Signs (Gallery)

Occupy Wall Street: The Latest

Report: DHS Forces Spotted at ‘Occupy’ Crackdowns

Man sets himself on fire in Tiananmen Square

Clashes at Italy protest against „bankers’ government”

Greeks protest as France, Spain face squeeze

Greek protesters clash with police at U.S. Embassy

Egypt opposition gather for mass anti-army „revolution”

„Egypt’s Islamist and liberal opposition began gathering in Cairo’s Tahrir square ahead of a mass rally on Friday to protest the military government’s plans to change the constitution to shield the army from legislative scrutiny.”

Global protests: is 2011 a year that will change the world?

Under seige from coast to coast, Occupy camps now losing battles in court

Police pepper spray Occupy Seattle protesters (video)

Homeland Security Coordinated 18-City Police Crackdown on Occupy Protest

Mayors deny colluding on ‘Occupy’ crackdowns

St Paul’s Cathedral protests: peace talks fail as eviction looms

Occupy London: eviction notices attached to tents outside St Paul’s

Police move on Occupy Melbourne camp

Tibetan Exiles Hold Anti-China Protest in India

81-year-old Chinese woman sets herself on fire in protest at officials demolishing family home

Thousands Of Kuwaitis Storm Parliament To Protest Corruption

CSU Tuition Hike Protest Turns Violent

Greek protesters to march as warning to new PM

UAE leader promises more political rights to citizens

Zurich police evict anti-bank protesters

„Swiss police on Tuesday evicted anti-banker protesters from the Lindenhof, an ancient square in one of the oldest parts of Zurich, just hours after a similar move by police in New York against an anti-Wall Street demonstration.”

Judge upholds eviction of New York ‘Occupy’ camp

Occupy Wall Street Plans a Big March for November 17

Protesters pushed to decamp in Portland, other cities

Police clear out downtown Occupy Oakland camp

Police arrest 51 during Occupy Portland shutdown

Unrest Grows Among Thais still Submerged in Floods

Political unrest and poverty increase side by side in Yemen


Saudi to cap its oil production output

„A top executive of Saudi Arabian Oil Company said his country does not plan to increase its oil output to 15 million barrels a day, from its already 12 million capacity.”

Wind energy creating a problem with military and weather radar

Oil refinery in Yemen stops operation; lack of raw materials cited

’84 days of power interruptions expected by 2014′ (Philippines)

Nigeria may never have stable power supply —Minister

Cold Weather causes Power Outage in Minot

„This colder weather is causing more problems for people in Minot. A blown transformer led to a massive power outage in FEMA trailers.”

Pakistan – Textile mills output falls 35%

West Nile power shortage brings business to standstill (Uganda)

Prospects Appear to Dim for EU-Backed Gas Pipeline

India will explore oil in South China Sea: PM to Jiabao

Norway mobilises for oil push into Arctic

„NORWAY unveiled a 20-year plan to unlock offshore Arctic oil and gas resources and channel them to worldwide markets, a project the foreign minister said may cost billions of dollars and bring rivalries over Arctic resources to a head.”

The Energy Return of Norwegian Oil and Gas Production

Higher investments for diminishing returns. And the article notes, „There are few oil and gas resources today with such a favorable EROI.” Which means that the situation is worse in other places. — RF

Alberta truckers frustrated with diesel shortage

Reportaaz presents „Coal and power shortage chaos in Maharashtra” (India)

„Thermal power plants are unable to produce a sufficient amount of steam needed to generate electricity. From private companies to the common man, everyone is suffering from power cuts.”

Hard hitting fuel rationing on card (India)

Oil Industry Faces Worker Shortage, Maurel CEO Tells Investir

Zambia steps up power rationing

Diesel shortage hits Durban (South Africa)

Europe Distillates-Diffs ease as supply recovers

„Russian stockpiling of diesel, amid worries of a domestic fuel shortage, has led to a cut in exports also putting pressure on supply.”

Heating oil, diesel and gasoline make a toxic mix

„Oil prices back above $100 a barrel, rising U.S. exports and falling stocks of distillates, and growing demand for both heating oil and diesel may prove to be a toxic mix for energy consumers this winter.”

India’s Future Nuclear Energy Plans Hit Protest Snags

Shell produces oil from world’s deepest subsea well in Gulf of Mexico

The Rush for Oil in West Africa – The New Wild West?

Implied Gains in Oil Field Services Stocks May Not be Real

„Even rising crude oil prices aren’t likely to spur a lot more exploration and drilling in the near term, and that’s what National and the rest of this group needs.”

Dutch Fall Out Of Love With Windmills

„Faced with the need to cut its budget deficit, the Dutch government says offshore wind power is too expensive and that it cannot afford to subsidize the entire cost of 18 cents per kilowatt hour — some 4.5 billion euros last year.”

In country after country, energy decline and the crumbling Ponzi-scheme economy are dealing death blows to renewable energy. — RF

Oil Back At $100: Higher Prices Here To Stay As Pipelines Ease Cushing Oversupply

Brazil to Join the Battle for Africa’s Energy Riches

Decline in gas supplies makes power utilities reconsider plans (India)

Power producers in dark, but worst yet to come (India)

China Power Firms Face Worst Margins Since ’06: Chart of the Day

Indian coal importers face big losses as stocks surpass 11Mt mark

„Despite an acute fuel shortage, Indian power producers are refusing to buy expensive coal, leaving coal importers to face big losses as stocks mount up.”

Fuel Prices Up Yet Again (Kenya)

More pain as another fuel shortage haunts Uganda

Aluminium: 15% of world capacity at risk of shut down

Landmines hamper Iraq oil boom, delay investment

Conflict Rising in Iraq Over Oil Contracts and Revenues

„In a development that surprises no-one except armchair analysts, trouble is brewing in Iraq over the sharing of oil revenues between Iraq’s largely autonomous Kurdish region and the central authorities in Baghdad over the Kurdistan Regional Government’s unilateral agreement just signed with U.S. oil giant, Texas-based Exxon Mobil, to develop the region’s oil resources.”

Due to junk infrastructure, unrest, politics, and other problems, Iraq is not going to be the oil bonanza that everyone has been expecting. — RF

Oil Soars and Natural Gas Withers: But the Energy Singularity is Not Forthcoming

Gregor Macdonald is always a good read. He gives us hard reality instead of pie in the sky. — RF

Nationalism Replaces Crisis as Biggest Threat to Metal Supply: Commodities

„Rising government demands for higher taxes and royalties are becoming a bigger threat to mining companies (metal) and their production than the financial crisis that’s wiped $6 trillion off stock market values since July.”

Exxon Preparing to Shut Antwerp Oil Refinery for Strike

Why Krugman’s Argument Against Fossil Fuels Fails Economics 101

„Opponents of fossil fuels have long championed solar power and wind power as replacements. Unfortunately, there is no evidence that solar and wind can provide the cheap, plentiful, reliable energy that our standard of living requires.”

Gas war in the Mediterranean?

Revenge of the internal combustion engine

Gas mileage boost means pricier cars – EPA

Pumped hydroelectric storage

Oil tops $102 on pipeline-reversal news

Fuel shortage forces KESC to increase loadshedding (Pakistan)

Technology and the Great Stagnation: Has All the Low-Hanging Fruit Been Picked?

JinkoSolar, Daqo Add To Global Solar Gloom

The worse the downturn gets, the less money there is to subsidize renewables. But there’s still plenty of money to subsidize nuclear, right? — RF

Investors Thirsty For New Markets Looking To Water

„Oil and water may not mix, but managing water — moving it, filtering it, recycling it and ultimately exhausting it — is one of the fastest growing sectors of the oil and gas industry, industry experts and investors said on Thursday.

„Because getting U.S. oil and natural gas out of the ground requires billions of gallons (liters) of water a year, ‘oil companies are the largest water companies in the world,’ Amanda Brock, CEO of the water treatment company Water Standard, told a conference on water investment and technology.”

How to confront the energy crisis?

„Flawed planning, wrong strategy and poor management of infrastructure projects in the energy sector are driving the Bangladesh economy to a possible serious depression.”

Selling the Oil Illusion, American Style

Another great reality check from Gregor Macdonald. — RF

China’s Energy Investments on a Global Roll, Now Include Brazil

Oil Approaches $100 a Barrel

Boom fuels oil field talent search

Oil is another one of the many industries with a critical skilled worker shortage. — RF

The Shared Fate of GDP and Energy Growth

Just look at these graphs. It’s so obvious that energy growth is the sine qua non of GDP growth. — RF

Can new plan to forcefully cut corporate power use work? (Korea)

Diesel shortage a concern for dairy producers (Canada)

Bus operators bear the blunt of fuel shortages (Malawi)

Uganda faces prospect of massive energy rationing

Ethanol Industry Faces Headwinds

China wants our crude, Canada says

Wind Power Faces Zero Margins, U.S. ‘Boom and Bust,’ Suzlon Says

Power price hike looms in China amid plants’ whopping losses

„A nationwide electricity-price increase is looming in China as many plants are suffering significant losses, while previous concerns about a rate hike that would hurt China’s efforts to control prices have abated due to the latest inflation data.”

Power distribution companies face annual cash deficit of INR 70000 crore (India)

„ET reported that power distribution companies face an annual cash deficit of INR 70,000 crore, adding to the gloom in the sector, which is already giving sleepless nights to bankers, equity investors and generating companies because of low tariffs and transmission losses.”

Widespread outage caused by ‘transmission-level’ event (US)

Acute shortage of gas has brought economic activities to grinding halt (Pakistan)

Royal Dutch Shell says oil spill strikes Nigeria pipeline amid increasing theft vandalism

Price drops of solar cells fail to effectively stimulate demand


Parishioners forced to sleep in church targeted by copper thieves (UK)

Copper Thieves Blamed for Knocking Out Power to Thousands (US)

„Tools, burned copper, and a singed body part found at the power substation.”

Dramatic rise in Northern Ireland lead thefts


U.S. Country-of-Origin Food Labeling Rules Illegal, WTO Says

Support your local farmers! — RF

Droughts wreaking havoc on local hay growers, buyers (US)

Now, private dairies to increase milk prices (India)

„With the power tariff expected to go up soon, the dairies say they have no option but to increase prices as the cost of chilling and processing milk would also escalate.”

Food costs soar as Thanksgiving looms (US)

Urea shortage may slash wheat output by 30% (Pakistan)

Food Shortage at Salvation Army for Thanksgiving 2011

„If you’ve been wondering if there are people that need help this Thanksgiving season, you can assure yourself that there is a need. All over the United States Salvation Army food storage is low on supplies. There is a food shortage at Salvation Army in every corner of the United States and they need your donations and help.”

The coming decentralization of food production

„Folks, when citizens can no longer prepare home cooked meals for friends and guests without a government agency intervening (often violently), we’re rapidly reaching the end game. This is no longer about protecting the health of citizens — if it ever even was — it’s about control. Former Secretary of State Henry Kissinger himself admitted as much when he remarked that ‘if you control food, you control the population.’”

Up to 3 million Afghans face hunger as winter looms

„Up to three million people in Afghanistan are facing hunger, malnutrition and disease after a severe drought wiped out their crops and extreme winter weather risks cutting off their access to vital food aid, a group of aid agencies warned Friday.”

Food shoplifting on the rise (Canada)

Your grocery bill is getting higher, and higher (US)

EU lawmakers call for action to protect bees

Pratt warns of food security danger (Australia)

Bangladesh looks abroad for farmland

It’s a very bad sign when countries must secure farmland abroad. — RF

Midwest Farmland in Third Quarter Rises 25%, Most Since 1977, Fed Reports

USDA: ‘Locally grown’ food a $4.8 billion business

Oklahoma’s wheat production at 30-year low

„Those without money eat poorly or don’t eat at all”


Reno fire expands to over 2,000 acres

Antibiotic-resistant infections spread through Europe

Climate conference warns of extremes

Chevron Oil Leak off Brazil’s Coast Larger Than Reported, Regulator Says

IPCC expected to confirm link between climate change and extreme weather

Low French Water Tables Need Heavy Winter Rain

Bangkok warned floods may last until new year

‘Winter drought’ could mean hosepipe bans next year (UK)

Charity warning over raw sewage discharge levels (UK)

„Thousands more pipes could discharge raw sewage into the sea, rivers and lakes than was previously thought, the Marine Conservation Society has said.”

Study links Parkinson’s disease to industrial solvent

„Researchers found a six-fold increase in the risk of developing Parkinson’s in individuals exposed in the workplace to trichloroethylene (TCE).”


The Twilight of Copyright?

Alleged Al Qaeda Member Charged With Bomb Plot

Fake terror plots, paid informants: the tactics of FBI ‘entrapment’ questioned (Guardian)

„Critics say bureau is running a sting operation across America, targeting vulnerable people by luring them into fake terror plots”

H(ackers)2O: Attack on City Water Station Destroys Pump (Springfield, IL)

Analysis: Internet Blacklist Bill Is Roadmap to ‘the End’ of the Internet

Europe restricts use on some airport full-body scanners; TSA appears displeased

Congress Fears Chinese Telecom Gear May Phone Home

Preserving the Status Quo with Artifice and Lies Leads to Systemic Collapse

„Suppressing dissent, transparency and fact inevitably leads to systemic collapse– exactly what we’re seeing in the European financial system.”

Botched Mars mission shows Russian industry troubles

And the US space program is also going down the tubes. How long before the ISS is unmanned? — RF

Pakistan Railways crisis

„Pakistan Railways decision to suspend goods train service due to severe shortage of locomotives and fuel is another blow to this organization. It is now basically financially bankrupt organization. In other words it is on the verge of financial collapse.”

Cloud Outages Strike Fear in Customers

California City Approves Spy Plane to Fly Overhead

German neo-Nazi terrorists had ‘hitlist’ of 88 political targets

Anti-Hacking Law Criminalizes Most Computer Users, Former Prosecutor Says (US)

Iran says it has ‘controlled’ Duqu malware attack

22 Signs That The Thin Veneer Of Civilization That We All Take For Granted Is Starting To Disappear

Pentagon: Offensive cyber attacks fair game

All lower house members’ IDs leaked / E-mails possibly exposed for 2 weeks; network remotely accessed over 10 times (Japan)


European debt crisis, natural disasters rock nonlife insurers

„One of the country’s three big nonlife insurers posted a group net loss and the other two a drop in group net profits for the first half of the current fiscal year.”

Utility Reform Eluding Japan After Nuclear Plant Disaster

„In a direct act of rebellion against Tokyo Electric Power Company, which owns the crippled Fukushima nuclear plant, the local government in Tokyo is moving swiftly to build a huge natural gas facility that would generate as much electricity as a nuclear reactor.”

Unfortunately, the prescription is not what the doctor ordered. — RF

Gov’t review panel says Monju reactor sucking up too much public money

They needed a review panel to find that out? Monju has been a boondoggle from the get-go. — RF

Japan takes stand in S. China Sea row

No-entry zone cleanup begins / Many challenges loom in 1st decontamination efforts in area

Sewage sludge keeps piling up amid radiation concerns

Japan swings to surprise trade deficit in October

Thai floods ripple through global supply chain, hitting Japan hard

23 prefectures reluctant to help Tohoku dispose of disaster debris

Aerial view of tsunami zone: cleaner but barren

Japan, South Korea eye joint LNG purchases

Japan to Import Venezuelan Crude Oil, Boost Reserves of Petroleum Products

Kansai Electric to Raise 670 B. Yen By End-March

„The financing became necessary to cover the company’s ballooning fuel procurement costs for thermal power generation, as it remains to be seen when it can restart nuclear reactors, suspended mainly due to routine maintenance.”

Tokyo, Osaka exchanges near merger deal

Japan Insurers Cut Outlooks on Thai Floods

Nikon, Furukawa, Asahi Cut Oulook on Thai Floods

Edano says gov’t won’t allow Kyushu Electric to restart 2 reactors at Genkai plant

Japan offers Southeast Asian nations Y2 tril to build infrastructure

Japan is hopelessly mired in debt. Where will it get the 2 trillion? — RF

Japan Needs Gasoline, Kerosene Reserves: Oil Industry Group

„The country should establish emergency national reserves of gasoline, kerosene and other petroleum products, the Petroleum Association of Japan proposed Friday as part of recommendations for changes to energy policy.”

Japan concerned about hikes in Italian, Spanish bond yields: Azumi

Student job seekers face ‘very challenging times’

„Fewer than six out of 10 university students expecting to graduate next March had found a job by the start of October, according to a survey by the education and labor ministries.”

Japan Restricts Fukushima Rice Shipments After Radiation Found

Cesium fallout widespread

More than half of Fukushima fallout ended up in sea: study

Resona Chairman Warns Over Japan Debt „Danger Zone”

IEA outlines Japan’s low nuclear scenario

Nippon Steel to slow output as floods dilute demand

Anxieties grow about radiation costs / No clear criteria, answers from TEPCO have municipalities fearful for budgets

Translation: Nobody’s got any money. — RF

‘Made in Japan’ brand at crossroads as firms ponder moving production overseas

BOJ warns slower economic growth in Japan, keeps loose monetary policy

WELFARE SYSTEM UNDER STRAIN / Out-of-work people struggling for self-reliance

From Minamata to Fukushima — The Japanese Nuclear Crisis Isn’t Over Yet

New study maps spread of Fukushima fallout

Mountains limited spread of fallout from Fukushima

It’s true. I too have been spared thanks to the mountains. — RF

Japan burns 200,000 bpd more crude for power in Oct

Japanese Utilities Imported 3.9 Million Tons of LNG in October

Megabanks’ PIIGS Corporate Lending Down 12%

„Outstanding loans by Japan’s three megabanks to corporations in five heavily indebted euro zone countries fell 12% from June to September, according to the banks’ first-half financial statements.”

Total net profit of 5 major banks up 18.7% in 1st half of FY 2011

Japan’s Nuclear Safety Steps May Cost 19 Billion Yen Per Reactor

„Additional safety measures required at Japan’s nuclear power plants in the wake of the Fukushima disaster may cost 19.4 billion yen ($252 million) per reactor, the government said.”

The costs of nuclear power just keep escalating. What was sold as „too-cheap-to-meter power” has turned into what is perhaps industrial civilization’s biggest liability. — RF

Defense ministry to urge contractors round-the-clock data security

In pictures: A first look inside Fukushima

A fitting monument to the decline and fall of industrial civilization. — RF

Japan to keep helping EU bailout: Noda

Mizuho to merge units, cut 3,000 jobs

Industrial output declines 3.3%


Chinese Real Estate Agents Going Out Of Business

Gordon Chang: The Reasons For China’s Imminent Bust

„The global dominant narrative about China is wrong, claims Gordon Chang. Don’t expect it to be the ‘pocketbook of last resort’ that will rescue world markets from their current malaise.

„And don’t expect its remarkable economic growth to continue. In fact, expect a ‘hard landing’ for China – and soon.”

Power Shortage To Hit 40M Kilowatts

China: Buy a home, get a free BMW (CNN Money video)

Sorry Europe: China’s Pockets Are…Empty

China Said to Warn Banks on Property, Loans

„China’s new banking regulator warned lenders that some projects backed by local governments may run out of funds, and loans to property developers are likely to sour as sales slow, a person with knowledge of the matter said.”

Entrepreneurial Wenzhou on Eve of Finance Crunch

China’s Oct. Consumer Prices Rise 5.5% From Year Earlier

Google Maps Mystery Actually Spy Satellite Targets, Expert Says

China’s Real Estate Collapse

China sea levels rise up to 130 mm in 20 years: report

Spy Sat Calibrators? King-Sized Jokes? China’s Colossal Structures Confound

More Mammoth (and Mysterious) Structures Found in China’s Desert

IMF says China banking system vulnerable

China’s consumer boom facing slowdown

Chinese TV Host Says Regime Nearly Bankrupt

Guangdong Province to Sell Bonds Friday

China land transactions falling

China’s Subsiding Land Prices

China’s October Economic Numbers Confirm Hard Landing

Why Is China Building These Gigantic Structures In the Middle of the Desert?


Transport firms ‘see gloomy future’

Boris Johnson warns that David Cameron’s ‘bazooka’ plan will wreck democracy in EU

„Boris Johnson today sparks a fresh clash with David Cameron by declaring that the Prime Minister’s preferred solution to the eurozone crisis would end up wrecking democracy and creating a German-dominated Europe.”

Homes sell-off ‘won’t solve crisis’

Switch-off for noisy wind farms

„Wind turbines are being turned off during periods of high wind in case they become too loud.”

High Court date set to remove St Paul’s protesters

Striking public sector will cost the UK economy millions

Royal Navy Faces Shortage of Attack Submarines

U.K. Sells Northern Rock at a Loss

More workers back pension strikes

Exceptionally dry weather could lead to drought in 2012, say water companies

CCTV taxi plan ‘a staggering invasion of privacy’

Police in Northern Ireland consider using mini drones

Bank of England sees ‘worsened’ economic outlook

UK unemployment increases to 2.62m

Youth unemployment hits 1 million

British Gas plans to axe 850 jobs

Drivers should not count on fuel duty cuts, says Cable

MPs urge ministers to scrap a planned rise in fuel duty

Solar giant ‘could quit UK’ after Government cuts to subsidies

Ground-to-air missiles could be deployed at London Olympics

FBI may protect U.S. athletes at Olympics

Nearly 50,000 NHS jobs ‘under threat’

UK jobs market faces ‘slow, painful contraction’


High End New York Apartment Prices Tumble With Wall Street Layoffs

Older, Suburban and Struggling, ‘Near Poor’ Startle the Census (NYT)

Report: J&J’s Doxil shortage could continue

„Cancer patients relying on Johnson & Johnson’s drug Doxil could continue facing shortages after a contract manufacturer suspended operations at its Ohio plant, according to The Wall Street Journal.”

Why the Brutal Police Tactics at Occupy Protests? (Forbes)

Goodbye Super-Committee, Hello Stupor-Committee: It’s Official – „No Agreement”

U.S. banks should „undermine” Occupy protestors: memo

„The Occupy Wall Street movement is a big enough problem for U.S. banks that they should pay for opposition research into the political motives of protesters, said a firm that lobbies for the industry.”

Airline travel: life in first class is getting cushier (but not back in steerage)

Six days left: Slowly, for super committee, failure is becoming an option

NYC agencies spend nearly $1 billion more than planned

Fed’s Williams: Fiscal Aid ‘Badly Needed’

UPS ups rates

Tough Economy Takes a Surprising Toll on Babies

Flash mobs pose threat to retailers: Marsh

Shippers Face Sticker Shock as Trucking Industry Increases Prices

„For the first time in several years, shippers in the U.S. are about to face significant truckload price increases, as the trucking industry succumbs to the effects of unavoidable cost pressures. When it comes to managing finances, the industry is entering a ‘perfect storm’ and many truckers are fighting for their very existence.”

Deficit-cutting panel girds for failure

„A high-profile congressional effort to trim stubborn U.S. budget deficits appeared near collapse on Friday as Democratic and Republican lawmakers were unable to agree on tax increases and benefit cuts.”

Supercommittee failure could trigger US credit downgrade, economists warn

Detroit Mayor Plans To Lay Off 1,000 City Employees

US Growth Too Slow to Dent Jobless Rate: Fed’s Dudley

S&P 500 Completes Worst Week in Two Months

U.S. Birthrate Declines for Third Year on Economic Worries

General Maritime files for Chapter 11 protection

Clearwire slammed as CEO reportedly mulls default

Las Vegas foreclosure nightmare a boon for indoor pot growers

Americans’ Financial Distress Is Getting Worse Again

Deep Spending Cuts Pose a New Threat to US Economy

The New Retirement Normal: The Average American Must Work For Two Extra Years After Death

Homebuilders Target In-Laws, Dogs as Extended Families Grow

The nuclear family, a product of industrial society, has peaked. Welcome, Grandma and Grandpa. — RF

Report: Housing crisis has a long way to go

LME Warehouses in US Overloaded with Copper, Zinc, Aluminum, Steel because of Economic Downturn

Skilled worker shortage expected (Pennsylvania)

Daugaard says state needs more workers in skilled trades (South Dakota)

Welding, plumbing, and electrical work? Hey, those are vital skills for propping up industrial society! The disappearance of skilled workers and engineers is helping to drag industrial civilization into the dustbin of history even faster. — RF

Nearly 1 in 3 U.S. children poor, Census says

Middle-class areas shrinking in US: study

Exclusive: Justice Department cuts recession deals with airlines

The airlines are on the ropes, and the government knows it. — RF

Drone Gives Texas Law Enforcement Bird’s-Eye View on Crime

U.S. boosts estimate of auto bailout losses to $23.6B

Using a credit card induces euphoria, new research shows

US elections 2012: Rick Perry event insists on US citizenship

„Prospective voters attending a public forum held by Governor Rick Perry of Texas, the Republican presidential candidate, in New Hampshire were asked to prove they were American citizens before being granted entry.”

Americans Are Fat, And Expected To Get Much Fatter

I predict it will be the opposite. — RF

U.S. Business Activity in Iraq Picks Up

IL Gets $1B Surprise as Obligations Jump

„Illinois will owe $1 billion more to its pension funds next fiscal year as smaller employee contributions kick in, according to projections released this week by state actuaries.”

U.S. Company Credit Risk Jumps to One-Month High On Europe Debt Concerns

Fed debt hits $15 trillion; GOP blasts Obama

Stocks nosedive on EU contagion fears
80 Is the New 65 for Many Retirees

I have consistently maintained that retirement and pensions are going the way of the dinosaurs. Unless you’re a member of the rich elite, plan to work until you drop. — RF

Housing Crash Causing Record Stagnation

Defense Cuts: Small Business Feels It

U.S. Banks Face Serious Risk From Europe: Fitch

California Revenue May Fall $3.7 Billion Short of Estimates, Analyst Says

School Children Rejoice: California Is So Broke It Will Shorten The School Year

Detroit Faces $45 Million Deficit, State Takeover Without Cuts, Mayor Says

FBI Reports Dramatic Spike in Anti-Muslim Hate Violence

Energy Taxing Water Resources

„A new report says Georgia’s power plants are stressing the state’s water resources. Plants in Georgia remove up to 2.8 billion gallons a day.”

JPMorgan To Issue CMBS Backed By… Defaulted Loans

US Postal Service loses $5.1 billion, could face default this week as financial woes mount

Anti-coal protesters arrested outside Bank of America in Charlotte

Breast-milk shortage hits milk banks; tiniest babies at risk

US Pension Agency Deficit Largest Ever at $26 Billion

„The U.S. agency that insures corporate pensions reported a record annual deficit of $26 billion on Tuesday with its potential exposure to financially weak companies also on the rise in a tough economy.”

Lawmakers Agree on Spending Bill to Avert Shutdown

Buffett: Returns ‘Terrific’ as U.S. Workers Suffer

Hard-drive issue looms over Dell forecast

Lawyers, firms line up as MF Global crumbles

Goldman faces lawsuits over $15.8 billion in mortgages

„Goldman Sachs Group Inc faces lawsuits over $15.8 billion worth of mortgage securities, the bank said in a regulatory filing on Wednesday, a more than 30-fold increase from the amount disclosed three months earlier.”

Physicians Press U.S. to Require Reporting of Drug Shortages

Vegas goes to Pot

„Animal McMansion”: Another use for vacant homes

Panetta Paints Dire Future as Warning Against Cuts

Size of the US Underground Economy

Big Banks Could Lose $185 Billion Next Year, As Anger Builds: Research

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