Tygodniowy przegląd wiadomości ze świata: 21-27.11

1. Przegląd wiadomości z tygodnia ubiegłego można znaleźć tutaj

2. Katastrofa nuklearna w Fukushimie – informacje znajdują się  tutaj. Ostatnia aktualizacja: 4.12.2011

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


BofA-Merrill Lynch: Euro Breakup Could Happen

Nouriel Roubini names variants of possible eurozone collapse


$707,568,901,000,000: How (And Why) Banks Increased Total Outstanding Derivatives By A Record $107 Trillion In 6 Months

French Bonds, The Next Big Short?

Germany, France examine radical push for eurozone

„Germany and France are exploring radical methods of securing deeper and more rapid fiscal integration among euro zone countries, aware that getting broad backing for the necessary treaty changes may not be possible, officials say.”

Italy Is Closer To Collapse Than Anyone Realized, And So Is The World

Flair For The Drachma-tic: ICAP Preparing For Return Of Greek Currency

IMF Readying Loan (senior) of as Much as $794 Billion for Italy, La Stampa Reports

HELP! Europe Cannot Service Its Foreign Debt

Still More Inane Attempts to Leverage EFSF; IMF to the Rescue?

EFSF Cash For Irish Bailout Running Out

Cold comfort as austerity bites in Europe

„While workers protest against austerity measures on the streets, cash-strapped Europeans are feeling the pain at home, struggling to pay for heating as winter approaches, reviving soup kitchens for the poorest and getting rid of costly pets.”

House of horrors: Prices Falling in 8 of 16 Measured Countries; Is the US Undervalued?

Europe Full of Mines `Waiting to Explode,’ Says Nomura (Bloomberg video)

Today’s currency war may be tomorrow’s global crisis: book

Crew shortfall threatens growth of Gulf airlines

Threats seen to Dubai World unit $2.2bn debt deal

What 20 years of chart study speaks about global economy

Euro Zone Weighs Plan to Speed Fiscal Integration (WSJ)

Belgium’s credit rating cut as Italian bond rates soar

Belgium Agrees 2012 Budget After Rating Cut

In Fiery Protest Against Fractional Reserve Lending, Disgruntled

Ex-Employee of Chairman of Rural Bank of New Zealand Sets Car on Fire in Mall (Mish)

Fractional reserve lending — like compound interest, fiat currency, and ever-expanding debt — is a tool used to prop up the infinite-growth paradigm. Fraud, fraud, fraud. — RF

Will steel stocks continue to go under the hammer?

„The slowdown in demand from Western countries and China (which accounts for 40% of world steel consumption) threatens to take the steel industry back to 2008 levels.”

A pessimistic assessment of the steel industry’s recent situation and outlook. We recall what happened in 2008: many blast furnaces around the world shut down. — RF

Daimler to Scrap Its Maybach Luxury Cars

Where have all the banksters gone? (video)

Entertaining analysis from Max Keiser. — RF

Hungary Yield Jumps Most Since 2009 as Forint Sinks on Moody’s Cut to Junk

JGBs Fall As German Auction Raises Contagion Fears

„TOKYO -(Dow Jones)- Japanese government bonds lost early momentum and finished down for the third straight session Thursday, as negative developments in Europe–this time in Germany–failed to trigger the usual safe-haven buying in JGBs.”

Banks, Politics Seen Pushing Euro Zone Into Recession

Eurocoin Shows Contraction in Euro Zone

„The euro-zone economy likely contracted in November for the second-straight month, according to a measure of activity compiled by the Centre for Economic Policy Research and the Bank of Italy.”

UK Banks Brace for Eurozone Break-Up; Eurogeddon and the Death of a Currency

Italy made to pay record borrowing rates

Greeks Drive Hard Bargain as Creditor Talks Start

„Greece is demanding harsh conditions from its creditors as it starts talks with lenders about a proposed bond swap, a key part of Europe’s plan to reduce its debt pile and save the euro, people briefed on the talks said.”

Euro Zone May Free Banks From Taking Bond Losses

„Euro zone states may ditch plans to impose losses on private bondholders should countries need to restructure their debt under a new bailout fund due to launch in mid-2013, four EU officials told Reuters on Friday.”

Latest Idiotic Plan: No Losses for Banks or Bondholders because „Losses Undermine Confidence” (Mish comment on the preceding story)

Belgium’s Credit Rating Cut to AA by S&P

„Belgium’s borrowing costs have surged to the highest level in 11 years in the past two months after the nation’s government agreed to buy Dexia SA’s Belgian bank unit and guarantee part of the crisis-hit lender’s liabilities for 10 years.”

Seagate: hard disk shortage to last a year

„The real damage of the hard disk shortage is only now starting to bite – and it will last until the end of 2012.”

Currency Wars – Russia Officially Adds 19.5 Tonnes of Gold Reserves in October Alone

Fitch cuts Portugal rating on high debts, worse outlook

„Fitch downgraded Portugal’s credit rating to junk status on Thursday, citing large fiscal imbalances, high debts and the risks to its EU-mandated austerity program from a worsening economic outlook.”

Japan ‘May Be’ Close to a Downgrade: S&P

Hungary’s Credit Rating Cut to Junk by Moody’s After Last-Minute IMF Plea

Irish Prime Minister Begs EU for Debt Relief in Disgraceful Performance

Germany Buys Itself First-Class Ticket on Titanic

Gold GBP 1,092/oz, JPY 130,890/oz – IMF: Japan Debt Could „Quickly Become Unsustainable”

Nokia Siemens to Cut Work Force by 17,000

France, Germany and Italy squash market hopes of ECB intervention

German Bank Capital Needs May Top 12B Euros

Run on the Eurozone has Started; Horrendous Idea that Will Not Die; Hitler Enters the Equation; Merkel Reiterates the Obvious; No Hope or Future for Eurobonds

The Weakest Link: Terrifying Economic Conditions in the US and Europe (Daily Reckoning)

Europe Crisis: Bond Market Closing to Sovereign Countries (CNBC)

„Europe is now facing a serious crisis. The bond market is closing to euro-zone sovereign countries — and those that are open are charging exorbitant rates. 5.59 percent for 10-year Belgian debt? Please.”

Wood-Burning Stoves All The Rage In Austerity Greece

„Disastrous” bond sale shakes confidence in Germany

„The German debt agency could not find buyers for almost half a bond sale of 6 billion euros. That pushed the cost of borrowing over 10 years for the bloc’s paymaster above those for the United States for the first time since October.

„‘It is a complete and utter disaster,’ said Marc Ostwald, strategist at Monument Securities in London.”

Euro on ‘Death Watch’ After Investors Spurn German Bonds

Banks Make Plans for Euro-Zone Split

In Greece, loan sharks compound the pain

EU demands right to dictate national budgets

„The European Union demanded Wednesday sweeping powers to override national budgets and proposed issuing joint eurozone bonds to help resolve and prevent a repeat of the debt crisis.”

Europe’s „Liquidity Run” Has Begun Because There Is An Unsolvable $30 Trillion Problem

U.S. Treasuries No Sanctuary from Europe’s Debt Problems (Jeff Rubin)

China factory sector shrinks most in 32 months

„China’s factory sector shrank the most in 32 months in November on signs of domestic economic weakness, a preliminary PMI survey showed, reviving worries that China may be slipping toward a hard landing and fuelling fears of a global recession.”

Jet fuel price hikes halve El Al’s profit

China bubble a global concern (Asia Times)

Singapore’s Inflation Holds Above 5% a Fifth Month on Housing, Transport

As Expected, Ireland Is First To Demand Debt Relief In Greek Bailout Aftermath

Austria To Sell, Scrap Two-Thirds of Its Tanks

Caribbean braces for drop in tourism spending

Perfect Storm the Most Likely Scenario; Is Europe Set to Declare a Chapter 11 in Early 2012?

Greek PM hopeful on signature dispute, strike looms

„Greece’s new technocrat prime minister said on Tuesday he was confident fractious politicians would soon provide a written commitment to painful austerity measures as demanded by the EU that will unlock funds needed to stave off bankruptcy.”

Spanish yields spike as crisis exits blocked

Spain Pays More Than Greece to Borrow in First T-Bill Sale Since Election

Uncle Sam To The Rescue: IMF Creates New European Bail Out Facility, The „Precautionary And Flexible Credit Lines”

„And here is the math: Italy’s quota is 7,882.3SDR; Spain is 4,023.4 SDR. Multiply by 5 and you get 40 Billion and 20 billion SDRs respectively, which translates to $61 billion and $31 billion. A total of $91 billion in additional capacity? And that’s it: enough to fund Italy and Spain for… two months. This is the best the regime can come up with? „

Federal Reserve Will Force 31 Banks To Stress Test Portfolios

German Growth May Grind to Halt as Region’s Crisis Saps Exports: Economy

Germany’s Finances Not as Sound as Believed (Spiegel)

„The German government likes to pride itself on its solid finances and claim the country is a safe haven for investors. But Germany’s budget management is not nearly as exemplary as it would have people believe, and the national debt is way over the EU’s limit. In some respects, Italy’s finances are in much better shape.”

Merkel sees EU treaty change as solution, not eurobonds

The eurozone’s borrowing costs may stay lethally high

France’s AAA Status in Tatters as Yields Surge

Hungary May Have to Bow to IMF Conditions to Access Financial Assistance

Wall Street Unoccupied With 200,000 Job Cuts

Very clever headline writers over at Bloomberg. — RF

Hungary seeks Aid from EU, IMF; Austrian Banks Told to Limit Lending to the East; No Government in Belgium Since June 2010, Negotiator Quits (Mish)

Afghanistan will need $7 billion a year over next decade: WB

„Afghanistan is likely to need around $7 billion a year from the international community to help pay its security and other bills long after foreign troops leave, even if two large mines start production as planned, the World Bank said on Tuesday.”

17 Quotes About The Coming Global Financial Collapse That Will Make Your Hair Stand Up

Missing MF Global Funds Could Top $1.2 Billion

IMF Announces New „Precautionary and Liquidity Line”; Fed Discusses More Stimulus; Both Much Ado Over Nothing; Expect Continued Bull Market in Meaningless Headlines

Mall Owner Sonae Says 2012 Will Be Tough for Retailers in Southern Europe

Abu Dhabi project delays to hurt Dubai recovery

Global economic outlook grim, China tells U.S. trade

UPDATED: Wall Street Analysts Everywhere Are In Agreement: THE WORLD IS ENDING

Credit Suisse Warns of ‘Last Days’ For the Euro

Insider Warns: Europe’s Banking System Could End Up Shut for Days

Expect A Global Recession No Matters What Happens In The Euro Zone

No Relief for Europe’s Bonds

„A selloff in euro-zone bonds continued on Monday, as investors shrugged off the election of a fiscally conservative government in Spain and continued to clamor for bold action by European policy makers…

„Monday brought fresh reports that some of Japan’s big investment trusts are turning away from European government bonds. Kokusai Asset Management Co. said it has sold all the Spanish and Belgian government bonds held by its Global Sovereign Open fund, the largest investment trust in Japan. Other risk-averse Japanese investors are taking a similar approach. Mizuho Trust & Banking Co. removed Italian government bonds from its overseas sovereign fund targeting individual investors in September.”

Spain’s debt crisis worsens as country begins month of post-election limbo

Foreign Banks Double Deposits at Fed

Drugmakers’ Returns on Research Fall as Pipeline Projects Fail

„The world’s biggest drugmakers saw returns on their investments in new products decline 29 percent from last year as more experimental drugs failed at costly late stages of development.”

Dubai real estate sales down 70% from peak

The New Price Era of Oil and Gold (Gregor Macdonald at Chris Martenson)

„In the old oil cycle, new supply of petroleum was brought online to capture rising prices. In the new oil cycle, declines from existing fields neutralize this new supply, for a net global supply gain of zero.”

Tests Mount for Argentine Economy

Reality Check… Will S&P or Moody’s Downgrade France First?


China, India perform dangerous new dance of encircler, counter-encircler (WashPo)

Arabs impose sanctions on Syria over crackdown

Rage grips Pakistan over NATO attack

Nato braces for reprisals after deadly air strike on Pakistan border post

„One Isaf source voiced concern that the Pakistani intelligence agency, the ISI, could go much further and use its suspected influence over insurgent groups in the tribal areas along the Afghan border to launch reprisal attacks on Nato.”

Afghan officials: Fire from Pakistan led to attack

Libya’s new rulers offer weapons to Syrian rebels

Iran builds 3 more submarines for navy

Israel threatens to cut water and power to Gaza

Iran expels Britain’s ambassador to Tehran calling ‘death to England’

United Arab Emirates security court jails blogger

„A United Arab Emirates court on Sunday sentenced a blogger and four other democracy activists to prison terms after finding them guilty of charges including insulting the Gulf state’s leaders.”

Pakistan accuses NATO of cross-border attack that kills at least 20 soldiers

Pakistan stops NATO supplies after deadly raid

Pakistan: US Must Vacate Suspected Drone Base

Iran says could target Turkey missile shield

„Iran could target installations in Turkey that are part of a planned NATO missile shield in any future conflict, a senior military official said on Saturday, upping the rhetoric against its neighbor with whom relations have soured in recent months.”

Multiple Baghdad blasts kill at least 13 people

Chavez Price Caps Spark Panic Buying of Coffee, Toilet Paper

Just a preview of panic buying that will spread around the world. — RF

Syria faces crippling sanctions as it defies Arab League deadline

EU Ban on Iranian Oil: Silly Idea

Iraq President Says U.S. Troops Needed for Training

War Games Spotlight China-Pakistan Hype

Afghan opium production to expand after troops exit

Newsmaker: Technocrat „oil man” takes charge of Libya lifeline

Banned neuro-toxic nerve gas ‘poisons’ Tahrir

Egypt protesters get US support for power transfer

Turkey doesn’t budge on demanding apology from Israel

Fighting erupts in Yemen amid protests

„Security forces and army defectors clash in Sanaa after protesters reject deal signed by Saleh to transfer power.”

Russian Air Force to get 90 aircraft in 2012

10 Personnel Killed in Attack on Syrian Air Force Base

Arabs give Syria one day to agree monitors or face sanctions

„The Arab League gave Syria one day to sign a protocol allowing monitors into the country or face sanctions over its crackdown on protests including halting flights and suspending transactions with the central bank.”

Iraq: Triple Bombings Kill At Least 19 In Basra

Egypt army picks new PM, protesters plan mass rally

Provincial autonomy risks sectarian rift in Iraq

„Moves by some of Iraq’s mainly Sunni Muslim provinces toward increased autonomy threaten to heighten sectarian tensions and put pressure on Iraq’s already frail central government as U.S. troops depart at the end of the year.”

Russia says missiles to target US nuclear shield in Europe

Russia Retaliates Against US: Puts Radar Station On Combat Alert, Prepares To Take Out European Missile Defense Systems

Is the U.S. About to Invade Syria … and Pick a Fight with China and Russia?

Tough Times Spark Russian Resurgence In Latvia

Deadly attack on NATO convoy in Afghanistan

„Taliban fighters target a NATO logistics convoy in western Farah province, killing 10 private security guards.”
Japan, China to cooperate over maritime crisis management system
„Japan and China agreed Wednesday to join hands in creating a „crisis management mechanism” to avoid potential disputes in the event of maritime incidents in the East China Sea, Japanese Foreign Minister Koichiro Gemba said.”

China says to go ahead with Pacific naval drills

„China said Wednesday it will go ahead with naval exercises in the western Pacific this month, an announcement that came a week after Washington reinforced its Asia-Pacific footprint with plans to operate 2,500 U.S. Marines out of northern Australia.”

Egypt: Muslim Brotherhood facing growing backlash from protesters

Libyan tribes protest at new government line-up

Dozens of deaths reported in Syria crackdown

Analysis: Arab League breaks habit, turns on Syria

Aircraft Carrier CVN-77 Parks Next Door To Syria Just As US Urges Americans To Leave Country „Immediately”

China says it opposes Western sanctions on Iran

Russia Warns US, Israel against Attack on Iran

Sanctions Against Iran Not Working, White House Admits

Medvedev: Russia may target missile defense sites

„Russia will deploy new missiles aimed at U.S.missile defense sites in Europe if Washington goes ahead with the planned shield despite Russia’s concerns, President Dmitry Medvedev said Wednesday.”

Yemen’s president steps down

Japan ForMin asks China to set up crisis management mechanism

„Foreign Minister Koichiro Gemba asked China’s Premier Wen Jiabao to agree to set up a ‘crisis management mechanism’ aiming to avoid conflict over disputed waters, reports said Wednesday.”

UK Security Firms Take up Arms against Pirates

„Security firms led by G4S are providing armed guards to ships sailing pirate-infested Somali waters, with one start-up kitting out a gunboat to lead World War II style convoys, as ship owners step up their response to constant attacks.”

Israel in hot seat at Middle East nuclear ban conference

„Arab countries urged Israel to give up its nuclear arms as a precondition for a nuclear weapons ban in the Middle East, participants at an International Atomic Energy Agency (IAEA) conference said Monday.”

Israel preparing for day when it has no relations with Egypt

Egypt generals promise transfer to civilian rule

US pushing UN to lift ban on cluster bombs, say campaigners

U.S. Targets Iran’s Oil, Central Bank in Effort to Thwart Nuclear Program

„No Fly Zone” Over Syria Imminent?

NATO Looks to Pool Resources Amid Budget Cuts

South Korea plans major drill for attack anniversary

Former US Ambassador: Turkey Should Occupy Afghanistan After 2014

Trucks carrying fuel for NATO torched in Pakistan

Western states step up sanctions on Iran

Jordan king to make rare West Bank visit Monday

Egypt cabinet resigns as protests intensify

Xinhua warns Philippines

Philippines Asks S. Korea For Military Hardware

„Philippine President Benigno Aquino asked his visiting counterpart from South Korea on Monday for aircraft, boats and other hardware to help boost his country’s military, amid rising tensions with China.”

Canada orders warships to stay in Mediterranean


As deadline looms, Occupy LA says they’ll stay

Alaskan Winter Doesn’t Freeze Protesters’ Resolve

Deadline passes for Occupy Philly to dismantle

Increasing labour unrest hits China Guangdong

Thousands protest at U.S. consulate in Pakistan against attack

Saudi tank drives into protesters

„A tank driven by Saudi Arabian armed forces drove into a crowd of protesters at a demonstration at a funeral, an amateur video shows.”

Protest Roil Alexandria Before Egyptian Elections

Employers raise the alarm over growing labour unrest (Kenya)

Political uncertainty, unrest drag economy down (Egypt)

Police break up tent protest in Ukraine, one dies

German police clear huge sit-in at nuclear protest

Occupy camps wind down across Canada

„What took nearly six weeks to build came down in a single morning as authorities moved in and dismantled two of Canada’s last remaining Occupy camps.”

After extending olive branch, Los Angeles posts eviction notice on Occupy LA camp

Mapuche Indians Clash with Chilean Police

Protesters try to halt nuclear waste train in Germany (BBC video)

General strike shuts down Portugal

Thousands rally in Egypt on „last chance Friday”

Chilean students clash with police during protest

Labor unrest taking shine off Colombia’s oil boom

„Protesting oil workers have yet to buy into Colombia’s grand vision for its oil industry, staging strikes that have shut the country’s largest oil field and threatening further unrest.”

China factory unrest flares as global economy slows

„In factory towns across China’s export powerhouse in the Pearl River Delta, a vicious cycle of slowing orders from the West and increasing wage pressures has led to a series of major strikes that could reverberate through the economy.”

The shocking truth about the crackdown on Occupy (Naomi Wolf at the Guardian)

„The violent police assaults across the US are no coincidence. Occupy has touched the third rail of our political class’s venality”

Occupy LA Shut Down: 72-Hour Warning May Be Given Soon To Pack Up City Hall Encampment

German protests as nuclear train enters from France

Protests mount against proposed gold mine in northern Peru

Police roust Occupy Edmonton, Montreal

„Canadian police shut down Occupy Edmonton and Occupy Montreal protest tent encampments Friday morning.”

Deadly clash hits Saudi province

„Kingdom blames foreign elements for unrest in Shia-dominated Eastern Province that left two people dead and six wounded.”

Egypt Protests: Scenes From Day Six

Buoyed by unrest report, Bahrainis confront police

Portuguese strike against bailout austerity

„Portuguese workers went on strike on Thursday, halting public transport and factories in many parts of the country to protest against harsh austerity measures imposed as the price of an EU/IMF bailout.”

Climate change: vulnerable countries consider ‘occupying’ Durban talks

NYPD raid on Occupy’s Zuccotti Park camp destroyed thousands of books

Greek Riot Police Clash With Tax Protesters

Top Form Workers Strike Over Wages at China Lingerie Factory
„Top Form International Ltd., a Hong Kong-listed lingerie maker, said as many as 200 employees at its plant in Shenzhen, southern China, staged a five-day strike over pay, a further sign of rising worker unrest in the country.”

Land grab anger flares again in S. China village

Protests flare up in Bahrain before unrest report

Industrialists decide 2-hour sit-in against loadshedding (Pakistan)

Cairo clashes flare after dark

„Rocks, teargas, firebombs and gunfire made darkened streets in central Cairo a battle zone on Wednesday as hard-core protesters demanding an immediate end to army rule fought riot police around government buildings close to Tahrir Square.”

Tunisia police fire in air during protest: witnesses

Inside Occupy Wall Street’s Growing Student Protests

French riot police battle protesters over nuclear train

Egypt battles show revolution’s unfinished business

Occupy Boston Gets Legal Cover, But Not All Protesters Like It

‘Occupy’ protesters complete New York to D.C. march

Demonstrators Plan to Occupy Retailers on Black Friday

Egyptian protesters reject military’s timetable for elections

Flash mob robs Maryland store (video)

South Korean lawmaker fires tear gas in parliament amid anger at US trade pact

Two million set to strike next week (UK)

Greeks resume cuts protest strikes

No more US troops in Australia: protesters

Occupy Detroit supporters shut down 2nd Avenue bridge in Detroit

Egyptian police battle protesters, 33 dead

Battlefield Tampa: Police roll out a giant tank to deal with a few dozen Occupy protesters


The end of coal’s ’1000 year Reich’?

Gas supply remains suspended in Faisalabad for third consecutive day (Pakistan)

„The gas supply to 600 industrial units and 380 CNG stations remained suspended for three consecutive days, on Saturday, as a result a large number of industrial workers most of them daily wagers became jobless for three days.”

The Energy Return on Investment Threshold (The Oil Drum)

For those with the time, reading the comments is also profitable because TOD has a very high signal-to-noise ratio (well-informed readers and no trolls). — RF

EU may believe it can afford to ban Iran’s oil

Lee calls for S. Koreans to join power-saving campaign

„SEOUL, Nov. 28 (Yonhap) — President Lee Myung-bak called on South Koreans Monday to turn off unnecessary lighting, wear warmer underwear and take other voluntary power-saving steps, saying the country could face a shortage of electricity due to soaring demand.”

Eskom reports 600MW electricity shortage (South Africa)

Industry faces collapse as outages continue (India)

„The severe energy crisis has stalled manufacturing in most units. In the city alone, units suffer a loss of Rs 6 crore. Unit owners continue to pay wages as workers sit idle throughout the day. The threat of a hike in power tariff adds fuel to the fire.”

Diesel fuel shortage hitting the Prairies

„Diminished diesel fuel inventories, combined with a seasonally higher demand spike from the agricultural, oil and gas, and northern B.C. forestry sectors, has placed a significant strain on diesel supply in Western Canada.”

Romanian mayor ends hunger strike over cuts

„Romanian mayor Florin Cazacu Saturday ended a six-day hunger strike over cuts in heating subsidies after the government handed his town extra funds for fuel oil.”

Fossil Fuels Beaten by Renewables for First Time as Climate Talks Founder

If we can build a large cushion of renewable capacity, it will help mitigate the shock of collapse and aid the transition to a low-energy future. But we should not expect renewables (real-time solar energy) to replace fossil fuels (stored solar energy). On this problem, see also the following article. — RF

The Scientific Challenges To Replacing Oil with Renewables

France still plans to build 60th nuclear reactor

„A 59th reactor is currently under construction in Flamanville in northwestern France in a project hit by delays and cost overruns.”

Denmark aims for 100 pct renewable energy in 2050

72pc power hike in 5 months causing meltdown

„The business community and the manufacturers associations, while expressing grave concern over massive jumps in power tariff, have observed that more than 72 per cent hike in electricity rates in the last five months is the major cause of continuous economic meltdown in the country.”

When It Comes to Electric Cars, Reality Bites

„Can the world switch to electric cars? The simple answer is no – and the complicated answer is also no.”

India refiners to seek more Middle East crude supplies in 2012

China Shunning Biggest Ore Ships Shows $2.3 Billion Vale Mistake: Freight

Crude oil near $97

German Power Grid at ‘Edge of Capacity’ as Country Exits Nuclear

U.A.E.’s Plan to Develop Nuclear Power Facilities Said to Cost $30 Billion

Nuclear power ‘gets little public support worldwide’

Developing economies see no escape from coal

OPEC to Boost Exports as Refiners Stock Up, Oil Movements Says

Uranium Processor Still Waiting Federal Loan (US)

Fuel shortage nearly cripples western Canadian trucking industry, but relief is in sight

Region hit by electricity deficit due to drought
„Serbia and other South-East European countries have been hit by several-years’ long drought that triggered a major electric power deficit.”

Can Anything be Done to Avoid the Coming Clean Energy Crisis in the U.S.

Cheap fossil fuels kill renewables. But expensive fossil fuels kill the economy, and that causes subsidies for renewables to dry up. — RF

The Peak Oil Crisis: A Report to Remember (Tom Whipple on the IEA report)

Go Figure: Why does every person need 200kg of steel a year?

UAE plan to develop nuclear power said to cost $30bn

Massive cost overruns will ensure that the price is much higher, and that the plan never happens. — RF

Crude Oil: Exxon Mobil’s deal may excacerbate tensions between Baghdad and Kurdistan

Iran Says Needs to Spend $50 Billion a Year to Keep Oil Output

„Iran needs to invest as much as $50 billion a year in its oil industry to maintain its position as OPEC’s second-largest crude exporter and boost natural gas production, Oil Minister Rostam Qasemi said.”

Wind power truly in the realm of mysticism

„Let me state categorically that, as a physicist, I am in favour of wind power that is genuinely economically viable. The problem is that large-scale wind power fed into a national grid is just not viable – either economically or practically – from an engineering stand point.

„The dream of some enthusiasts that there is some major technological leap just waiting in the wings that will make wind power viable is extremely unlikely to take place. The total energy in any wind stream is measurable, and there is no known quantum leap waiting for a solution that could produce considerably more wind energy than at present.”

Diesel Becomes ‘Global Issue’ as Premium Soars: Energy Markets

„Soaring demand for diesel and gasoil around the world is depleting stockpiles, sending U.S. prices to the highest level in three years relative to gasoline.”

Must read: The myth of renewable energy (Bulletin of the Atomic Scientists)

I’ve been saying all along that renewables are dependent on the industrial infrastructure, which in turn is built and powered by fossil fuels, and that they aren’t going to save industrial civilization. — RF

India power investment slows, chronic deficit worsens

„Investments into India’s power sector are slowing despite a chronic electricity shortage that threatens GDP growth, executives told the Reuters India Investment Summit, due to coal shortages, land hassles and an inability by distribution companies to raise tariffs.”

Cold winter and electricity rationing ahead for South Koreans

Will the Gulf Help Oil Majors Stay Afloat?

An informative window on the growing difficulty of energy production. — RF

Does Nuclear Energy have a Future in Europe

Israel ups gas field guard, plans exports

„Israel is pushing ahead with plans to export its natural gas production from major offshore fields to Greece via Cyprus, defying threats by onetime ally Turkey to use military force to block such moves.”

U.S. warned Exxon about Iraq

Get ready for winter, Scotland warns

Plutonium shortage threatens future space research

South Portland council OKs removal of streetlights (US)

Council switches street lights off to save cash (UK)

Why Iran sanctions are pushing up oil prices

Analysis: Chevron Spill May Complicate Brazil Oil Dreams

„Chevron’s oil spill off the Brazilian coast exposes the major environmental risks of tapping the country’s new oil wealth and could further delay development by fueling nationalistic oil politics.”

Saudi Sees Threat Of Shale Oil Revolution

„Saudi Arabia’s state energy company said on Monday that its dominant role in world oil supply had been altered by large new reserves in North America, sapping the urgency to develop the kingdom’s own reserves.”

This sounds more like a convenient excuse for KSA to avoid exposing its own limits. — RF

Saudi Aramco Says Renewable Energy Progress Is ‘Faltering’

„Progress in implementing renewable energy globally is ‘faltering’ as companies have been slow in starting projects and some companies may fail, Saudi Arabian Oil Co. Chief Executive Officer Khali Al Falih said.”

Belarus Tightens Energy Ties with Venezuela Following 20 Years of Gazprom Bullying

Analysis: Afghan mines no solution for economic woes

Industrial society depends on expansive infrastructure, which in turn must be built, maintained, and operated with cheap, plentiful energy. The curtain is now being drawn on this era. — RF

Islands in an Expanding Sea (Richard Heinberg)

Free trade schemes all assume we have lots of cheap energy. See following item. — RF

Fuel Costs Sting Malaysian Carriers

„Malaysia’s two biggest air carriers, Malaysian Airline System Bhd. and AirAsia Bhd., reported tepid third-quarter results because of higher fuel costs and warned of a challenging fourth quarter due to slowing demand for air travel and persistently high fuel prices.”

Abu Dhabi’s Masdar cuts 9% of workforce

„Masdar, Abu Dhabi’s state-owned renewable energy company, has trimmed its staff numbers by nine percent as it seeks to create a leaner organisation, the company said Tuesday.”

European firms threatened by solar industry shake-up

„Over the coming months the solar industry is set to experience its own version of natural selection, as surplus capacity and falling prices triggers a significant reduction of the number of companies in the marketplace, according to a new report from Bank Sarasin.”

Chinese solar losses mount but stocks still rise

„Chinese solar companies including Suntech Power Holdings Co Ltd, JA Solar Holdings Co Ltd and LDK Solar Co Ltd posted larger-than-expected quarterly losses and warned that the sector’s bleak outlook would continue well into next year.”

Ships queue at Australia’s Newcastle coal terminals to hit 22-month high

Peak oil gets pepper sprayed

Malawi runs out of jet fuel, worsens aviation crisis

Daily Updates on Electricity Levels to be Televised (Skorea)

EPA Rules Could Shut 13,000 Megawatts Of Midwest Coal Plants

„Proposed federal environmental regulations could shut about 13,000 megawatts of coal fired generation, boost power prices, threaten electric reliability and cost billions to retrofit or replace most of the region’s existing coal fleet, according to U.S. power grid operator Midwest Independent System Operator (MISO).”

Load shedding, electricity price increases in Karachi (Pakistan)

„Karachi Electric Supply Company (KESC) has once again increased durations of load shedding in residential and commercial areas on the pretext of oil and gas shortage. It may be mentioned here that six to ten hours of load shedding being carried out in various city areas.”

Israel – Major Natural Gas Producer? Not Yet

Kazakhstan Now World’s Largest Uranium Miner

Applied Materials: Q4 PV manufacturing equipment sales revenues fall 44%, new orders fall 73% in quarterly results

Saudi oil minister says market ‘balanced’ at $100 oil

Australia’s gas ambitions face major hurdles

„Australia has big ambitions when it comes to gas — whether liquefied natural gas or coal-seam gas — but analysts are warning of cost blowouts and delays across a multi-billion-dollar array of projects, as labor pressures and environmental backlash intensify.”

Diesel shortage could last for weeks (Canada)

Diesel reserves down to one week (Mongolia)

Winter woes: Tempers soar as gas runs low in Rawalpindi (Pakistan)

Coal supply shortage may further trip industrial growth numbers (India)

Tennet hit by ‘shortage of cash and cables’

„German electricity grid operator Tennet warned last week it might struggle to install further offshore connections to North Sea wind farms due to a shortage of cables and cash.”

Water. Coal. Texas. Sanity. One of these words does not belong.


Metal thefts cause havoc (UK)

„Scrap metal thieves are tearing away at Lancashire’s electricity network with around 240 thefts from its infrastructure in the past year.”

Infrastructure theft causing hazards, delays (Indonesia)

„State railway operator PT KAI has reported an ongoing loss from the theft of traffic regulator cables, which also creates hazards and delays services, a KAI official says.”

Copper Thieves Hit Street Lights In Carlsbad (California)

Rash of catalytic converter thefts hack off owners (US)

Soaring level of disruption on the rail network (UK)


S.F. food providers scrambling to find money to pay for fresh goods as federal funds disappear

Man Angry About Food Prices Slaps Indian Agriculture Minister

Vietnam struggling with high food prices

„Some Vietnamese people now say they spend more than 50% of their wages on buying food.”

India to open market to global supermarket chains

Erratic Rains Threaten Southern Africa Food Output

Livestock farmers say ethanol eats too much corn (US)

„Livestock farmers are demanding a change in the nation’s ethanol policy, claiming current rules could lead to spikes in meat prices and even shortages at supermarkets if corn growers have a bad year.”

Farmageddon−The Unseen War to Shut Down American Family Farms

Sustained high food inflation warrants monetary steps: RBI (India)

Zimbabwe could be months away from a food shortage

World population growth could spur food shortage

Three Million Afghans face Hunger As Winter Looms: Aid Groups

WFP says more than 1 million Zimbabweans need food aid

Sahel grapples with food insecurity

Survival gardening for depressed economic times


Report: Millions of birds killed by power lines

Immunise or lose benefits, parents told (Australia)

„Parents who do not have their children fully immunised will be stripped of family tax benefits under a scheme announced by the Federal Government.”

Flooding in east Australia traps hundreds in homes

Arctic Sea’s Ice Loss Is ‘Unprecedented’ in Past 1,450 Years, Study Shows

Snowless Scandinavians wonder ‘where’s winter?’

Texas, Oklahoma drought kills thousands of Christmas trees

Mexico battered by worst drought in 70 years

Brazil ‘risks loss of forest area equal to Germany, Italy and Austria’

„An area of forest equal to Germany, Italy and Austria combined could be lost forever if Brazil’s senate approves new laws on land clearance to be voted on within days, conservationists have warned.”

Arctic sea ice decline ‘unprecedented’ in last 1,400 years

Study: Today’s Teenagers May Be Most Out-of-shape In US History
Natural, Homemade Laundry Soaps

Is the ‘caveman’ lifestyle a healthy choice?

Many people will be finding out soon enough. — RF


Philippines say arrested hackers funded by Saudi group

New questions raised over Dominique Strauss-Kahn case

„Journalist’s detailed study has unearthed fresh doubts over alleged assault in New York by ex-IMF chief”

Information overload wastes two weeks a year (UK)

„British workers have to sift through so many emails and electronic documents that they waste nearly two weeks a year searching for information they have previously read but then lost.”

NZ facing skills shortage

Police to set up cyber crime unit (UK)

9 Reasons Wired Readers Should Wear Tinfoil Hats

Your life is an open book. — RF

Cyborg search-and-rescue insects’ power source unveiled

INFOGRAPHIC: 120 Million Black Friday Shoppers Are In Danger Of Identity Theft

Virgin America’s Web Site Meltdown: Four Weeks and Counting

Cyber-security of North America’s power grid ‘chaotic,’ report warns

Informer’s Role in Terror Case Is Said to Have Deterred F.B.I. (NYT)

Malls track shoppers’ cell phones on Black Friday

Water Utility Hacked: Are Our SCADA Systems at Risk?

Document Trove Exposes Surveillance Methods

„Documents obtained by The Wall Street Journal open a rare window into a new global market for the off-the-shelf surveillance technology that has arisen in the decade since the terrorist attacks of Sept. 11, 2001.

„The techniques described in the trove of 200-plus marketing documents, spanning 36 companies, include hacking tools that enable governments to break into people’s computers and cellphones, and ‘massive intercept’ gear that can gather all Internet communications in a country. The papers were obtained from attendees of a secretive surveillance conference held near Washington, D.C., last month.”

How Israeli Spies Were Betrayed By Their Cell Phones

Israel Shuts Down Radio Station for Criticizing Regime


Japan’s youth turn to rural areas seeking a slower life

It’s true. But the national and local governments are stuck in the industrial mindset and have made virtually no provisions to welcome potential farmers back to the countryside. — RF

Iwate salmon catch drops 40% / Tsunami damage to fishing nets worsens long-term decline

Sorry, an economic revival of the kind expected is not in the cards. — RF

No BoJ Action just a Survey

„The BoJ sent out a questionnaire to major banks asking whether they can help it intervene in the currency markets overseas.”

Monju reactor may be axed: Hosono

It would be one of the most sensible things the government has done in a long time. — RF

Kepco reactor halt leaves just 10 in service nationwide

Pension payments to follow deflation for second year

Deflation is a great excuse to make cuts that are inevitable, anyway. — RF

More cesium in Fukushima rice

Cesium from Fukushima plant fell all over Japan

Radioactive strontium found in 3 locations in Tokyo

Rice from 5 Fukushima farms shows high radiation levels

Cesium levels hit tens of billions of becquerels at river mouth
„Researchers have sounded the alarm over river water containing cesium levels at tens of billions of becquerels a day flowing into the sea near Fukushima Prefecture, site of the crippled nuclear power plant.”

TEPCO: Radioactive substances belong to landowners, not us

„During court proceedings concerning a radioactive golf course, Tokyo Electric Power Co. stunned lawyers by saying the utility was not responsible for decontamination because it no longer „owned” the radioactive substances.”

Japan kerosene stocks rise to almost 3-year high

„This year, kerosene heater sales have soared as consumers brace for possible power shortages with many nuclear reactors offline due to safety concerns after the Fukushima radiation crisis, although actual kerosene usage will depend on the weather and power supplies. „

Japanese Shift Funds to Gilts From Bunds as Euro Crisis Deepens

BIS Official: Japan’s Debt Poses Risks But Not Immediate Ones

„Japan faces risks, though not immediate ones, from its high level of debt and needs to convince financial markets it is moving in the right direction to address the challenge, Philip Turner, deputy chief of the Monetary and Economic Department at the Bank for International Settlements, said Friday. (…) Just keep spouting those absurdities. With a moribund economy, a high energy bill, a nuclear disaster to pay for, and total debt at 500% of GDP, the situation is patently hopeless. — RF

Renewables Could Supply 40% Of Power In Japan: Report

Yes, if much of the population lives in poverty, that is perhaps possible. — RF

Extra strong yen threatens to break up auto industry: Toyota chief

Japan’s October CPI signals deflation

J-Power Shut 1.2-GW Isogo Coal-Power Station Due To Fire

„Electric Power Development Co. (9513), or J-Power, has ceased operations at its 1.2-gigawatt Isogo coal-fired power plant in Yokohama, west of Tokyo, after fire broke out from its feedstock coal on late Thursday, the Yokohama City Fire Department said Friday.”

Decontamination work at homes in Fukushima not going well as radiation lingers

„Work to decontaminate homes and yards in a district here is not proceeding as hoped, as radiation levels persist and decontamination workers worried about their health stay away.”

What did they expect? — RF

IMF Warns Japan Debt Could ‘Become Unsustainable’

What, the IMF just discovered this? With total debt hovering around 500% of GDP, Japan’s goose is cooked to overdone. Put a fork in it. — RF

Japan risks slow slide toward debt-funding strains: Fitch

„Japan must explain how it will correct its public finances to avert the risk that investors would shun its bonds and push up borrowing costs, the credit rating agency Fitch warned on Thursday.”

Japan Life Insurers Cut Europe Bond Holdings Amid Crisis

„TOKYO (Dow Jones)–Major Japanese life insurers have cut their exposure to debt issued by Portugal, Italy, Ireland, Greece and Spain over the past few months, company officials said Thursday, underscoring widespread concerns among Japanese institutional investors over Europe’s deepening debt crisis.”

Japan’s Thai Exports Down 16% In Oct Due To Floods: Report

„TOKYO (Nikkei)–The widespread flooding in Thailand has taken a toll not only on bilateral trade, but also business and consumer sentiment, according to the government’s monthly economic report.”

Gov’t to newly set safety limit for radioactive cesium in baby food

How reassuring! — RF

Many obstacles hinder debris disposal

Govt to review energy law / Edano calls for ways to reduce usage, increase efficiency

„Taking lessons from power shortages this summer, the review will seek to lower maximum electricity use during peak hours, which the current Energy Conservation Law does not cover.”

Japan sees 2012 LNG demand rising by 20 mln T

„State-backed Japan Oil, Gas and Metals National Corp (JOGMEC) expects demand for liquefied natural gas (LNG) to rise by 20 million tonnes next year in the aftermath of the Fukushima nuclear disaster in March, a company official said on Thursday.”

Japan’s anti-nuclear protesters find the going tough, despite Fukushima disaster

„Polls show the public turning against nuclear energy after Japan’s Fukushima disaster. But low coverage of protests and powerful business and political interests have complicated efforts to promote change.”

Emergency condenser at Fukushima plant may not have fully run after tsunami

Govt Panel Calls For Cutting Pensions From FY12

6 Chinese warships spotted in waters off Okinawa

Tokyo govt to urge firms to stock disaster supplies

Japan intends to develop oil fields in Iraq

TEPCO projects getting by next summer even without nuclear power

„Tokyo Electric Power Co. projects it will be able to supply electricity beyond this summer’s maximum capacity next summer even if all 17 of its nuclear reactors go offline, company sources said Tuesday.”

But fuel costs will likely hit the utility hard. — RF

Fukushima: „China Syndrome Is Inevitable”

Sense of Crisis Pushes Japan Exchange Deal

Tokyo shares end mixed with Nikkei hitting fresh 32-month low

BOJ expects to post large latent losses

„The Bank of Japan’s latent loss on its holdings of exchange-traded funds (ETFs) has swollen to tens of billions of yen as of Sept. 30, sources have said. The central bank purchased the funds as part of monetary easing measures, but losses are believed to have increased due to a fall in stock prices on the back of the financial crisis in Europe and the excessive appreciation of the yen.”

Unemployment benefits won’t be extended to those who lost jobs due to March 11 disaster

Japan to give $750 million in loans to Iraq

„The money will go toward refurbishment of oil refineries and other infrastructure and health care projects, according to the Japanese foreign ministry.”

JFE’s Crude Steel Output Seen Down 300,000 Tons From Forecast

Supermarket sales off third month

Domestic flat-screen TV shipments plunge 73.7% in October

Tokyo parks set to host gas power plants

„The Tokyo metropolitan government will set up large-scale gas power stations at what are designated as ‘disaster management parks’ to provide electricity to public facilities in emergencies, government officials decided.”

Japan’s October exports down 3.7 percent

Global economic woes hit Singapore, Japan exports

JR Tokai To Pay For All Maglev Train Stations

Idiocy times 100. Of course the maglev line will never be built. — RF

Iraqi prime minister makes pitch for oil, infrastructure investment

„Iraqi Prime Minister Nouri al-Maliki expressed hope Monday that Japanese corporations will invest in oil and infrastructure development in Iraq, playing down security concerns in the country.”

Nikkei ends at lowest level since March 2009, Japan trade data weigh

WELFARE SYSTEM UNDER STRAIN / Working-age recipients need help

Radioactive cesium blankets 8% of Japan’s land area

Vandals target metro subway lines nationwide


Chinese Stock Alarm? Sino-Forest May Be the Best of the Bunch

„If you are invested in China, it may be time to get out.”

China May Find It Hard to Break Fall

Children of the Revolution

„China’s ‘princelings,’ the offspring of the communist party elite, are embracing the trappings of wealth and privilege—raising uncomfortable questions for their elders.”

>Gasp!< What would Chairman Mao say? — RF

Electric vehicles starting to lose their zip in China

China Real Estate at ‘Tipping Point’: Nomura

„China’s property market has reached a „tipping point” and the slowdown in the housing industry will have a spillover effect on demand for steel and other construction materials, according to Nomura Holdings Inc.”

China Real Estate posts 3Q loss as market cools

„China Real Estate Information Corp. reported a third-quarter netloss on Tuesday, and warned that the Chinese government’s efforts to cool the real estate market is hurting growth of its online business. The stock fell 10 percent in late morning trading.”

China’s Oil Demand to Surpass IEA Forecasts, Barclays Says

„China’s oil consumption by 2015 will be ‘significantly’ higher than International Energy Agency forecasts, surging 35 percent from this year, as economic expansion spurs fuel demand, Barclays Capital said.”

Home Prices Crash 62.5% Since September in Erdos, a Chinese „Ghost Town”

Crisis casts doubt on China rebalancing plans

„China has been forced into self-help mode after a series of international crises have hollowed out its export markets and left it feeling like the only man standing.”

China spending big money to avoid Arab spring fever

„China’s ruling Communist Party is looking within for threats to its control over the country, spending more money on securing its population of over one billion than it did on its military last year, according to a new report to the U.S. Congress.”

The Coming China Collapse: Economic, Political Or Both?

Chanos Says China Bank System `Extremely Fragile’ (Bloomberg video)

China Doubles Size of Hong Kong Currency Swap

„China and Hong Kong said Tuesday they have doubled the value of a bilateral currency swap to 400 billion yuan ($62.92 billion) as Beijing seeks to expand the pool of yuan set aside to ease any strain on foreign banks that may be under pressure to access the Chinese currency.”

China has debt woes of its own to worry about

China automakers see slower growth ahead

Toyota aims to sell more than 1 mil. cars in China in 2012


Christmas lights go dim amid Britain’s economic gloom

Pension funds to help finance road and power projects

„Britons’ retirement savings will help to fund the Government’s £200 billion programme of road, port and power station-building projects, following a deal between the Treasury and pension providers.”

George Osborne’s £5bn gamble to stave off recession

„An extra £5bn of capital investment, funded by spending cuts elsewhere, will form the centrepiece of an overall £30bn national infrastructure programme due to be announced by George Osborne on Tuesday as part of an attempt to prevent the country from sliding back into recession.”

Army on standby to deal with passport queues during public sector strike

Prepare for riots in euro collapse, Foreign Office warns

„British embassies in the eurozone have been told to draw up plans to help British expats through the collapse of the single currency, amid new fears for Italy and Spain.”

From schools to hospitals, strikes set to cause chaos

Troops to man airports during ‘general strike’

Europe plan to ‘green’ public buildings to cost £50bn

„Taxpayers will have to pay billions of pounds a year equipping council houses, town halls, hospitals and other public buildings with the latest green technology, under new proposals by the European Commission.”

Fuel poverty as families struggle to pay heating bills

„More than 400,000 families in Wales are struggling to meet the cost of heating their homes.”

Rises in fuel and metal thefts in Northumberland

Mainframe skill shortage becoming serious financial risk

Criminals and cyber bullies to be banned from the web

DUP assembly member says strike could cost economy £500m

Labor unrest will be another factor bringing national economies to their knees. — RF

UK to fund half of teenagers’ new jobs

Young jobless ‘Neets’ reach record level

War of words over claim strikes ‘could cost jobs’

Cold kills 180 British pensioners a day during winter

This is some pretty grim reading. — RF

Fuel poverty protesters stage ‘die-in’ over winter deaths

Motoring costs soar above inflation

„The cost of owning a car has risen by more than £800 a year over the past 12 months, a study has found.”

London lagging in Iraqi energy investments

UK incomes fall 3.5% in real terms, ONS reveals

Fears rise over ‘high-impact’ financial event, says Bank of England

„Nearly 90% of financial firms think the chance of a „high-impact” event happening in the next year – such as the collapse of the euro – has increased in the last six months, the Bank of England said today.”

David Cameron: our plan to cut debt is failing

Hague Says UK Treasury „Quietly” Preparing For „Contingencies On Euro”

UK’s debts ‘biggest in the world’

With total debt of nearly 500% of GDP, the UK is tied with Japan. — RF

Astraeus Airlines in administration

Navy frigate sent to Libya with four missiles

„The warship can carry 32 Seawolf and eight Harpoon missiles but it is understood that military cutbacks left the Westminster and its crew of 190 with only a fraction of that capability.”

Treasury severs all ties between British and Iranian financial institutions


Fund manager: US Treasurys not worth the risk

Will Unemployment Benefits Dry Up?

Vallejo foreclosures spur surge in squatters

Black Friday Shopping Like There Is No Tomorrow?

Consumers paying for cleaner coal

Lieberman Wants Google To Let Users Flag ‘Terrorist Content’ On Blogging Platform

No Year-End Stock Surge in Sight

The Plot Thickens: More On The Weekly $88 Billion „Other” Outflow

Help Wanted: In Unexpected Twist, Some Skilled Jobs Go Unfilled

Dow, S&P Log Worst Thanksgiving Week Since 1932

Another Late Day Dumpfest Ends Worst Thanksgiving Week Ever For Stocks

THE RETURN OF DEBTORS PRISONS: Collection Agencies Now Want Deadbeats Arrested

„As if life wasn’t already tense enough for Americans who can’t pay their debts, collection agencies are now taking advantage of archaic state laws to have some debtors arrested and sent to jail.”

Retailers Fight ‘Flash Robs’

U.S. Workers’ Pay Slide Poses Consumer Risk

Just a Holiday Reminder: Black Friday Is Utterly Meaningless

Banking System Rotten to the Core (Financial Sense)

Fraud, fraud, fraud. — RF

Airlines cut small jets as fuel prices soar

„Airlines are getting rid of these planes — their least-efficient — in response to the high cost of fuel. Delta, United Continental, and other big airlines are expected to park, scrap or sell hundreds of jets with 50 seats or fewer in coming years. Small propeller planes are meeting the same fate.”

Another chapter in the story about the slow death of the airline industry. — RF

Newest And Oldest States Still Stuggle With Unemployment

Erasing/Seizing Wealth of „The 1%” Cannot Create Viable Middle Class or Solve Sustainability Crisis

„There may well be a revolution, peaceful or otherwise, based on the outrageous income disparity perpetrated by greedy, non-civic minded capitalists. However, even if their vast monetary wealth were turned over to ‘the 99%,’ divided equally and put to good uses for future generations, the problem is that today’s wealth is almost entirely artificial. It has become digital and is little else.”

Super Committee Failure Aftermath: Mood Moves From Frustration To Open Self-Loathing

It’s just another sign of the dysfunction that arises from over-complexity and energy decline. It’s all downhill from here, folks. — RF

U.S. Easing Out Of Nation-Building Business

Chinese Real Estate Collapse Will Hit America Hard, According to Influential Newsletter Profit Confidential

Bank of America Swaps Soar to Record

Dave Bing Threatens City Workers With State Takeover

Mortgage Insurer PMI’s Bankruptcy Will Make It Harder To Obtain Loans

New Bottom Line: Angry Churches Pull Money From Big Banks

‘Flash Robs’: Trying to Stop a Meme Gone Wrong

25 Bitter And Painful Facts About The Coming Baby Boomer Retirement Crisis That Will Blow Your Mind

LA seeks to make parks from foreclosures

Sick-day faking on the rise

Some States Are Facing Revenue Shortfall—Again

America keeps lurching toward that inevitable nationwide muni bond bust. — RF

College Savings Drop Off as More Parents Feel Pinched

Moody’s Keeps United States’ AAA Rating

Groupon Shares Plunge Below IPO Price

Bad Economic News Trifecta Hits: Jobs And Core Durable Goods Worse, Savings Rate Higher As Consumers Hunker Down

Sunoco says Eagle Point refinery assets not sold yet

„Sunoco closed the refinery in 2009 due to poor profit margins along the Atlantic Basin. Earlier this year, they said they were also closing their remaining two refineries if there were no buyers.”

Farmers caught up in MF Global failure

The New Homeless: Living Behind the Wheel

Mohamed El-Erian: US Economic Conditions Are „Terrifying”, Recession Chances Are 50%

U.S. may lose second triple-A rating within months

US growth lower than expected despite consumer spending boost

Bank Profit Highest Since 2007; Industry Still Struggles

Fannie, Freddie tentacles embraced many in Washington

Supercommittee Failure Poses Risk to U.S. Economy Even as Rating Affirmed

Broken streetlights symbolize Fort Worth budget woes

Bank of America stock near 2-year low

Bad Economy Means Another Scaled-Back Thanksgiving

A new crime on the rise in metro Detroit is turning abandoned homes into ticking time bombs

North Dakota oil boom causes rents to soar, forces seniors to leave beloved longtime homes

Neo-Nazi group adopts a Delaware roadway

IT’S OFFICIAL: Here’s The Super Committee’s Statement Admitting It Failed

The Supercommittee Was Designed To Fail (Forbes)

„Much like the European Community over the past few years, Congress’ goal when it created this panel was not to resolve a fiscal mess, it was merely to buy time so it could avoid painfully tough choices.”

Mission Accomplished: Nothing; Kerry Says No Problem „Lawmakers Have a Year”; Boehner’s, Pelosi’s „Moral Obligations” Fly Out the Window; McCain’s Hypocrisy; Look for US Debt Downgrades (Mish)

MF Global Shortfall May Hit $1.2 Billion: Trustee

S&P 500 Posts Worst Losing Streak in 2 Months

Military Cuts Threaten Defense-Dependent States

Postmaster General: Plans to save us fall flat

Ten wpis został opublikowany w kategorii Bez kategorii i oznaczony tagami . Dodaj zakładkę do bezpośredniego odnośnika.