Tygodniowy przegląd wiadomości ze świata: 28.11-4.12

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.


Commerzbank Desperately Needs Money; Der Spiegel Reports „Germany Considers Nationalization of Commerzbank”; First of Many Nationalizations

Italy PM Monti raises taxes, reforms pensions in austerity drive

„Pension reform” — in all countries — means that governments will phase out pensions. Keep watching as yours vaporizes with the rest. — RF

Failure to Cut Record Debt Pushes Developer Yields Above 20%: India Credit

India Home Prices Up Over 22% In Third Quarter

Builders Shrink ‘Great Australian Dream’ as Priciest Home Market Falters

The Fed Makes Sure U.S. Dollar Collapses With The Eurozone

Goodbye ‘Jetsons’ Car: Aptera Runs Out of Gas

Skills shortage biggest challenge facing GCC banking sector

Bank of China to step in as Saab part owner: source

Italy’s Monti seeks broad support for crisis measures

Angela Merkel and Nicolas Sarkozy meet in Paris for summit on fiscal union

Jacques Delors: Euro was flawed from beginning

German Finance Minister Hatches „National Redemption Fund”

Scheme to Kick the Debt-Can Another 20 Years

Europe, facing abyss, embraces German might

Double-digit inflation continues: CPI increases by 11.1pc during July-Nov (Pakistan)

Forget Bazookas — Only Howitzers Can Save Us Now

Dec. 9th: The Beginning Of The End Game For The Eurozone

Germany’s Merkel fights for euro, Cameron for UK

„British Prime Minister David Cameron threatened on Friday to obstruct a Franco-German drive for swift change to the European Union’s treaty, a sign of the difficulty leaders will face transforming Europe to save the euro.”

Angela Merkel takes action to stop euro collapse

Italy plans 20-25 billion euro austerity measures: sources

Euro Central Banks May Provide $270B via IMF

Euro Falls on Bets Summit Won’t Stem Crisis

So Much For The Bailout – European Funding Situation Worst Since March, As ECB Deposits And Emergency Loans Soar

World Starts To Worry As Chinese Economy Hiccups

China May Channel Reserves to Invest in US: Minister

„China may channel part of its huge pool of foreign-exchange reserves into investment in U.S. infrastructure, including rail and transportation networks, Commerce Minister Chen Deming said on Friday.”

China says cannot use reserves to rescue Europe

Soros: World Financial System on Brink of Collapse (WSJ)

Bank of Korea increases gold reserves by 38% in November

Peru Prices Rise Faster Than Expected on Food, Fuel Costs

Indian Airlines Struggle With Deep Troubles

Global Slowdown: Only 3 Nations in Positive Expansion

Weak Manufacturing in Euro Zone, China Darkens Global Outlook

Sarkozy calls for new European treaty as euro enters make-or-break week

Lagarde: G-20 May Boost IMF for Europe Crisis

ECB Hints at Action If Euro Zone Adopts Fiscal Pact

„The new head of the European Central Bank signaled on Thursday he was ready to take stronger action to fight Europe’s debt crisis if political leaders agree next week on much tighter budget controls in the 17-nation euro zone.”

As U.S., Europe Hack At Budgets, Pensions Get Sliced

Still Stressed – ECB Deposit Facility Usage Passes €300 Billion, Highest Since June 2010

Brazil Slashes Taxes to Protect 5% Growth From Spreading European Crisis

EU Bank Writedowns to Exclude Pre-2013 Debt; French Bond Yields Drop Most on Record; Italian Bond Yields Drop Below 7% (Mish)

„EU officials have hatched a plan to make banks and bondholders take losses for risks, not now of course, but after 2013. In the meantime, taxpayers will shoulder 100% of the losses for bank lending stupidity. On this confidence inspiring news, European bonds rallied sharply.”

S&P downgrades hit bank funding, counterparty cost

Zimbabwe Bashes US Dollar, Alligns With Yuan

Mideast private equity feels chill of regional unrest

Life after the end of economic growth

Myanmar’s new capital: a vast, empty city

Reminds one of China’s ghost cities. Will ordinary people be able to live there? — RF

Italy Reportedly in Exploratory Talks With IMF for Aid

Germany Open to Boosting IMF Funds to Fight Crisis

Central banks step in to stave off new credit crunch

Europe Enters Critical 10 Days to Save Itself

Goldman Urges Bet Against Euro Junk Debt

„Goldman Sachs Group Inc., after this year’s losing endorsement of U.S. bank stocks, recommends as its top trade for 2012 a bet against European high-yield corporate debt and forecasts a ‘deeper recession’ for the region.”

Maximum Intervention Moves Into Overdrive; Foreign Banks can Fund themselves Cheaper in US Dollars than US Banks; Discount Rate Cut Coming Up?

CRAMER: The Central Banks Did This Because A European Bank Was Going To Fail

Did A Large European Bank Almost Fail Last Night? (ZH)

Shirakawa: Central Banks’ Liquidity Provisions Alone Won’t Solve Crisis

„TOKYO (Dow Jones)–Bank of Japan Gov. Masaaki Shirakawa said Wednesday that coordinated central banks’ action to shore up the global financial system was intended to give the financial market „a sense of relief,” but that enhancing the liquidity provision alone is not an answer to solving the deepening European debt problem.”

Duh! — RF

Spain, France Bond Sales Take on Crisis as Firewall Eludes Euro Leaders

„Spain and France auction 8.25 billion euros ($11 billion) of bonds today as European efforts to strengthen the region’s firewalls against contagion failed to rein in surging borrowing costs.”

Chris Martenson’s presentation at the Gold & Silver Meeting in Madrid (includes video)

South Korea’s October Industrial Output Falls 0.7%

„South Korea’s industrial output in October fell for the third time in four months, government data showed on Wednesday, missing market expectations and hit by softening global demand while domestic spending remained weak.”

Indian growth at lowest level in two years

Canadians rein in debts amid uncertainty

Bank of Thailand Cuts Rate

Brazil Cuts Rate for Third Meeting to 11%

„Brazil’s central bank cut borrowing costs by half a point for a third straight meeting as a global economic slowdown threatens to exacerbate a slump in domestic demand.”

Europe struggles with rescue fund, may turn to IMF

„Euro zone ministers struggled to ramp up the firepower of their rescue fund and raised the possibility of asking the IMF for more help on Tuesday after Italy’s borrowing costs hit a euro lifetime high of nearly 8 percent.”

Europe Has Three Choices, Including Collapse: El-Erian

ECB Must Act or It Is ‘Game Over’: Economist

As Final EFSF Details Emerge, German FinMin Says Bail Out Fund Won’t Halt Crisis

Italy’s bond rates spike as Mario Monti fills government

Hungary dug itself a debt hole, now it pays the piper

20,000 Greek civil servants put on standby

Modern Greeks Return To Ancient System Of Barter

Spanish Retail Sales Drop

„Spain’s retail sales fell at their fastest pace in four months in October, the country’s national statistics agency INE said Tuesday, the latest indication of a likely late-year contraction in the euro zone’s fourth-largest economy.”

In euro zone crisis, companies plan for the unthinkable

CRAMER: ‘We Are In DEFCON 3, Two Stages Away From A Financial Collapse So Huge It’s Hard To Get Your Mind Around’

Crisis in Europe Tightens Credit Across the Globe

South Korean Output Grows at the Slowest Pace Since August on Europe Woes

Armageddon Delayed; All Quiet on the European Bond Front; Italy and Spain Bond Schedule through 2021; Belief in Fairy Tales

„European bonds had a good day today. A good day is when nothing blows up.”

Eurozone Being Swallowed by Expanding Debt Black Holes, Mega Bond Market Profits and Default Booms

„UK and Japanese government bonds are grossly over valued and on the precipice of moves resulting in sharply higher interest rates (yields).”

Three to 4% yields for the UK and Japan will wipe them out. — RF

Standard And Poors Reviews 37 Global Banks, Downgrades Bulk

Moody’s: Every European nation now at risk on debt

„Throwing more logs on the Eurozone fire, Moody’s Investors Service said early Monday that the continent’s debt crisis now is ‘threatening the credit standing of all European sovereigns.’”

Equity Futures Ripping, Bond Market Still on Deathbed; Germany Allegedly Mulls Five-Nation „Elite Bonds”

Germany, France press for coercive euro zone debt rules

Why a German downgrade is the next logical step in the euro crisis

La Tribune Reports S&P May Put France On ‘Negative’ Outlook Within Ten Days

Belgium’s borrowing rates up sharply in auctions

Morgan Stanley Cuts 2012 Global Growth Forecast Again

Because growth is dead. — RF

Euro Zone in Mild Recession, US May Follow: OECD

Italy Set for a ‘Sizeable’ Cost Increase at 8 Billion-Euro Bond Auction

Rate Cuts Loom From Thailand to Philippines

„Asian central banks from Thailand to the Philippines may be preparing to cut interest rates in coming weeks as an escalating impact from Europe’s debt crisis prompts economists to scale back growth forecasts for the region.”

Wild Ride in 2-Year Italian Bonds; What’s Changed? Nothing! Expect More Nonsensical Rumors

Trade Systems Brace for Euro-Zone Break-Up (Marketwatch video)

Thai floods drying up supply of tech goods

Thai flood supply chain losses could reach $20bn

„The majority of insurance losses from the Thai floods will come from manufacturing and supply chains and could reach $20bn according to AM best.”

Striking Hypocrisy: Eurocrats live in bubble as people suffer debt (RT video)

India supply chain chaos next hurdle for global retailers


Embargo on NATO supplies hailed (Pakistan)

Analysts say Russia could deliver deathblow to Nato

Iran military shoots down U.S. drone: state TV

U.S. official says no sign Iran shot down drone

CIA, US Marines start to leave Pakistan drone base

Afghanistan: „There Will Be Civil War”

Iran says oil would go over $250 if exports banned

Syrian secret police defect, Arab deadline looms

„At least a dozen Syrian secret police have defected from an intelligence compound, activists said Sunday, in what appeared to be the first major desertion from a service that has acted as a pillar of President Bashar al-Assad’s rule.”

U.S. drug agents launder profits of Mexican cartels

Bomb explodes near British embassy in Bahrain

Egyptian election results deepen Israeli fears

Here Are The Next Steps In The Escalating Middle East

Napolitano: Lone wolf terror threat growing

„U.S. Homeland Security Director Janet Napolitano said Friday that the risk of ‘lone wolf’ attackers, with no ties to known extremist networks or grand conspiracies, is on the rise as the global terrorist threat has shifted.”

And who might profit from that? — RF

Analysts Warn on NATO’s Dwindling Supply Options in Afghanistan

At least 23 dead in intensifying Syria violence

Syria must sign Arab peace plan by Sunday: Qatar

Rival militias wage turf war near Libyan capital

The US Is Sending 4 Of These State Of The Art Destroyers To Join The Contested European Missile Shield

Deadly clashes rock Yemen second city Taez

Panetta to Israel, Palestinians: ‘Just get to the damn table’

These 5 Aerial Weapons Could Change Warfare As We Know It

Mexico drug war casualty: Citizenry suffers post-traumatic stress

France pulls some diplomats out of Iran

Baghdad blast ‘targeted Iraq prime minister’

„Military says Monday’s attack in the Green Zone might have been bid to kill Nouri al-Maliki or another top politician.”

After NATO strike, Pakistan adjusts rules of engagement

„Pakistan’s commanders in the wild Afghan border region can return fire if under attack without waiting for permission, the army chief said on Friday, a policy change that could stoke tensions after Saturday’s NATO strike killed 24 Pakistani troops.”

Border deal fuels concerns in Canada

„Armed U.S. police officers will for the first time be allowed to operate in Canada along with the RCMP as part of far-reaching changes in Canadian-American border operations to be unveiled next week by Prime Minister Stephen Harper and President Barack Obama.”

US not invited as Hugo Chávez launches Latin group

Marine Aircraft Plans in Peril as Tiltrotor Costs Soar

Iran Faces Oil Curbs as U.S. Targets Central Bank While EU Adds Sanctions

UN sanctions against Iran ‘exhausted’: Russia envoy

Russia’s UN envoy says Moscow opposes new sanctions against Iran

The war against Iran’s nuclear program has already begun (Haaretz)

Bomb targets official in Pakistan’s Peshawar: police

Enraged Pakistan says NATO attack threatens war on terror

„Pakistan, enraged by a NATO cross-border attack that killed 24 soldiers, could end support for the U.S.-led war on militancy if its sovereignty is violated again, the foreign minister said, adding ‘enough is enough.’”

Furious at Latest U.S. Attack, Pakistan Shuts Down Resupply Routes to Afghanistan „Permanently”

Barak says no Israeli attack on Iran anytime soon

„Defense Minister Ehud Barak said Thursday an Israeli attack on Iran is not imminent but all options remain open to stop what Israel sees as an Iranian bid to develop nuclear weapons.”

US uncertain Israel will alert it of Iran strike

EU countries call back ambassadors, threathen new sanctions against Iran after British embassy attack

Syria now in state of civil war, death toll at 4,000: U.N.

China, southeast Asian neighbors to patrol Golden Triangle

EU adds more sanctions against Iran

As EU tightens the screws, Iran looks toward China (includes video)

Yemeni forces in deadly clash with tribesmen

Russian arms in US backyard: Back in Cuba

Russia Delivers Missiles to Syria: Report

Another Blast in Iran, This Time Followed by Rockets Landing in Israel

Pakistan army says NATO attack was blatant aggression

UK expels Iran diplomats after embassy attack

Dubai traders fear sanctions impact on Iran business

„China Will Not Hesitate To Protect Iran Even With A Third World War”

France Backs Sanctions On Iran After UK Embassy Attack

Syria tries to ward off sanctions by releasing hundreds of political prisoners

China’s first aircraft carrier starts second trial

International banks have aided Mexican drug gangs

Rockets fired from Lebanon hit Israel: army

„Several rockets fired from Lebanon hit northern Israel on Tuesday, and the Jewish state returned fire across the border in response, military officials said.”

Gangs from Africa, Iran muscle in on South East Asia drugs: U.N.

„International drug gangs from Africa and Iran are muscling in on Southeast Asia’s booming methamphetamine business which has shown a staggering increase and is spreading through the region, the United Nations said in a report on Tuesday.”

Pakistan says to boycott major Afghanistan meeting

Iranian protesters enter UK compound in Tehran

Russia activates missile early warning radar system

Germany now major Mideast arms supplier

US, Kyrgyz officials participate in joint exercise

China’s Pacific Push Spurs U.S. Spending on Anti-Sub Warfare

Vietnam Boosts Presence in South China Sea, Targets Protests

Pakistan PM: No more „business as usual” with U.S.

„Pakistan’s prime minister ruled out „business as usual” with the United States on Monday after a NATO attack killed 24 Pakistani soldiers and the army threatened to curtail cooperation over the war in Afghanistan.”

Border closure seen as an inconvenience

Bomber hits Iraq military base, 11 dead: sources

Iran: explosion in Isfahan reported

„Widely conflicting reports emerge of apparent explosion in the north-east of Isfahan near where nuclear facilities are located”

Satellite Image Confirms Iranian Missile Base Was Destroyed

Violence on the rise in Baghdad as U.S. drawdown continues

Top four ways Congo’s instability affects the world

What Crisis? U.S. Drones, Jets Still Fly Over Pakistan

It’s a Drone’s World. We Just Live in It

Gas pipeline from Egypt bombed

„For the ninth time since the Egyptian revolution, saboteurs attacked the natural gas pipeline in the Sinai Peninsula, the government said.”

Russia To Send Warships to Syria in 2012: Report

„Russia will send a flotilla of warships led by its only aircraft carrier to its naval base in Syria for a port call next year amid tensions with the West over the Syrian crisis, a report said Nov. 28.”

China aims to boost military links with Kuwait

The End? US to Spend $6.5 Billion in Iraq in 2012


Occupy Melbourne tent protesters outwit police (video)

Occupy L.A. protesters return to downtown streets

Occupy Broadway Draws Artists, Protesters To Theater District

19 Occupy Portland protesters arrested as police move quick to block new demonstration site

LulzSec: Anonymous hacktivists strike Portugal after police brutality

Fed’s Fisher Says U.S. Risks ‘Social Unrest’ Amid Rising Federal Deficits

Saudi dissidents turn to YouTube to air their frustrations

Strike Wave in China Puts Heat On Official Union

Occupy LA Raid: Los Angeles Police Reportedly Went Undercover At Encampment Prior To Raid To Gather Information

Angolan police, youths clash at protest rally

Occupy Catch-22: Boston Cops Throw Out the Kitchen Sink

China worried about unrest as economy flags

„The Chinese leadership’s law-and-order chief is warning that China is ill-prepared for social unrest generated by changes in the economy, in the latest sign that the government is worried about the consequences of flagging growth.”

Unemployed and liberal groups to hold protests in D.C.

Workers mass at Shanghai factory in latest unrest

Is Saudi Arabia Next? (CFR)

Over 20 arrested at U.S. London embassy protest

Foreclosed homes, empty lots are next ‘Occupy’ targets

Wisconsin Gov. Wants Protesters To Pay For Security

Tens of thousands protest austerity in Brussels

Greeks strike over government’s „starvation” budget

As Indonesia strikes it rich, workers start to strike

Greeks hold first major strike under new government

Defying Police Blockade, Boston’s Occupy Builds a City

Boston Protesters May Remain Until Ruling

Occupy Harvard’s an Exclusive Affair, But Not By Choice

Saudi Arabia accused of repression after Arab Spring

Angry farmers dump deadly cobras on tax office floor (India)

Saudi security forces withdraw from Shiite villages

Consumers protest power shortages (Uganda)

Protesters go berserk in Kahuta (Pakistan)

„Residents of Kahuta went berserk on Tuesday as they damaged a CNG filling station and several vehicles when the police tried to intercept them during their protest against low pressure and load shedding of the gas.”

LAPD Moves in to Evict ‘Occupy Los Angeles’ Protesters

More than 200 held after police raid Occupy camps in LA, Philadelphia

Chernobyl cleanup veterans join Ukrainian protests

Arrests after Occupy protesters target West End office

„More than 20 arrests have been made after anti-capitalist protesters attempted to occupy a building near Piccadilly Circus in central London.”

Public sector strike rallies held across UK

Malaysia bans street demonstrations

UAE unveils $2.7bn fund to pay debts of poor

Concerns grow over spreading strikes in Guangdong

Ukrainian Pensioners Attack Donetsk Governor’s Office

Occupy the Capitol: The Next Stage in the Occupy Movement

Trade Unions say no to Austerity With Actions Across Europe 30 November

Occupy’s new tactic on the West Coast: Squatting

Occupy Philly Avoids Eviction, Police Brutality—for Now

Occupy LA Sues Mayor to Prevent Eviction

Saudi urges its citizens to leave unrest-hit Syria

Further Bahrain Unrest Would Be Saudi Arabia’s Worst Nightmare

Manufacturing Slowdowns at Chinese Factories Result in Strikes

Occupy Xmas (video)

A little holiday cheer from TPTB. — RF

Police hold off on eviction of Los Angeles Occupy camp

„Police in riot gear closed in before dawn on Monday on anti-Wall Street activists in Los Angeles who defied a midnight deadline to vacate a camp outside City Hall, but stopped short of clearing the encampment.”

Five arrested after deadline passes for Occupy LA

Syria sanctioned and condemned for „brutality”

„Syria faced growing economic sanctions and condemnation over „gross human rights violations” on Monday, but President Bashar al-Assad showed no sign of buckling under international pressure to end his military crackdown on popular unrest.”

In Chile, Protesting Students Tweak Tweets to Win Global Support

Kuwait cabinet resigns amid growing opposition protests


Power breakdown likely in December (Pakistan)

„Against the electricity demand of over 15000 MW, the country is already producing around 10000 MW only which will further reduce to 7000-8000 MW only leading to 12-18 hours load-shedding in the big and small cities of the country from next month.”

Brazil’s oil boom could see its first bust

„Brazil’s huge offshore oil wealth has been called a lottery jackpot, and each of the industry’s contracts is another winning ticket. But even with a lucky stub in hand, some companies risk going broke before they can claim their prize…

„‘The cost and technology risks are higher than the government or Petrobras are saying,’ said Celio Bermann, an engineer and oil policy researcher at the University of Sao Paulo. ‘The government has set production goals for 2020 that probably won’t be met until 2023 or later.’”

We can’t say we didn’t see this coming. The difficulties, expenses, and dangers of getting oil in inhospitable environments are weighing heavily on the industry. — RF

Range Fuels Cellulosic Ethanol Plant Fails, U.S. Pulls Plug

„Range Fuels Inc., a cellulosic ethanol company backed by as much as $156 million in U.S. loans and grants from President George W. Bush’s administration, is being forced by the government to liquidate its only factory after failing to produce the fuel.”

‘Cost and complexity’ putting SMEs off renewable energy

Cost of fuel biggest factor as prices continue to rise (Canada)

China faces coal shortages in 2012 amid strong demand: Shenhua official

Saudi Arabia Poised for Record Heavy-Crude Premiums on Fuel Oil

„Rising demand for fuel oil is allowing Saudi Arabia, the world’s biggest exporter, to sell its lowest-grade crude at record premiums to buyers in Asia.”

Oil companies may follow suit after Shell pulls out of Syria

Winter power supply ‘just enough’ (Cyprus)

Saudis to spend $66B to boost water supply

Lack of Electricity Crippling Businesses, says Ugandan Legislator

„In Uganda, the shortage of electricity is crippling business, especially in the capital, Kampala. There are power outages, also called load shedding, that some say can last as long as five days in a row.”

Australia Going Solar – Gonna Cost Ya, Mate

„Green activists, take note – for Australia fully to embrace solar power, Canberra would have to spend $100 billion, with photovoltaic cells to generate the electricity covering an area twice the size of Sydney in order to replace Australia’s indigenous inexpensive coal-fired power plants with renewable energy sources.”

Crude oil price closes above $100

Natives To Oppose West Coast Oil Pipelines (Canada)

Winter Woes: Cold wave grips G-B hilly areas (Pakistan)

„Other issues like persistent day-long power outages and shortage of fuel are compounding the problems of locals. Purchasing firewood has become impossible due to inflated rates; liquefied petroleum gas has already skyrocketed.

„Locals have been forced to cut down fruit trees for firewood while the district administration silently observes the growing frustration of its people.”

Texas could face rolling blackouts next year, reports say

Norway oil spend ‘set for record’

„Investments in Norway’s oil and gas sector are forecast to hit a record Nkr184.6 billion ($32 billion) next year as the need to upgrade ageing infrastructure and boost recovery from mature fields drives spending…

„However, a shortage of rig capacity could act as a constraint on exploration as units are taken for production drilling.”

A costly winter ahead for home heating oil users (US)

Range Fuels biorefinery in foreclosure

Learning Too Late of Perils in Gas Well Leases

Cement industry may be allowed to use ‘tyre-derived fuel’ (Pakistan)

Kenya: Shortage of Diesel Looms Countrywide

Diesel shortage easing slowly, Prairie fuel suppliers say (Canada)

Workforce Summit Discussess Industry ‘Brain Drain’

The oil industry too faces a skills shortage. — RF

Is Rossi’s E-Cat Yesterday’s News? Australian Company Claims to have a Working Fusion Reactor

Readers will recall that just yesterday we had an article which threw some ice water on the E-Cat. — RF

Pentagon Preps Afghans for Trillion-Dollar Treasure Hunt

„The Pentagon wants the world to know: When the American military stops spending billions per week in Afghanistan and eventually goes home, the Afghan economy is gonna be totally fine. After all, they’re sitting on trillions in mineral deposits, just waiting to be mined.

„Too bad many of the mines are in regions too dangerous or geographically treacherous for companies to set up camp. And it’ll take at least a decade before the mines yield tangible goods, and the profits that accompany them.”

Countdown to $100 Oil – High Energy Prices Suppressing Growth? (TOD)

Japan and Korea ‘cooking on’ Russian Gas

Bangladesh Power Plants Shut, Gas Rationing to CUFL

Texas Will Be Short On Power Next Summer, Grid Operator Predicts

Malawi Jet fuel shortage cripples airlines

Gazprom sees shale gas as risky

„Executives at Russian natural gas company Gazprom said certain aspects regarding production of shale gas made it a pricey commodity to exploit.”

Ben-Gurion Int’l Airport: excessive water levels found in jet fuel

„A similar problem occurred at Ben-Gurion International Airport last May, when the Airport Authority’s fuel supply was found to be badly contaminated”

Motorists suffer in long queues as CNG stations closed (Pakistan)

Power outage in Johannesburg (SA)

„A major power outage in the Johannesburg area has left 26 suburbs without electricity since midday.”

Montenegrin power plants are working with only five percent of their capacity

Is a U.S. Mining Company Funding a Violent Crackdown in Indonesia?

What Keeps Solar Energy Executives Up at Night

Oil, gas prices increase as Iranian mob attacks UK embassy

Crude oil in New York tops $101 per barrel

South Sudan might cut oil production

No miracles in science: The story of the „energy catalyzer”

You see? There is no free lunch. There never was, and there never will be. — RF

Solar power bankruptcies loom as prices collapse

Pakistan Raiways suspend 38 more trains owing to fuel shortage

Funds, refiners ponder oil Armageddon

Barclays: UK’s oil production hits below 1 mb/d in September

Water shortage is national disaster: church (Zimbabwe)

Korea braces for electricity shortage

South Korea joins Japan to save electricity in winter

„South Korea’s capital is going dark this winter to avert a possible power supply shortage.

„The government has decided to ban lighting neon signs during peak hours for electricity use and will operate fewer subways in the Seoul metropolitan area to head off blackouts.”

‘Indian oil demand at a record high in Oct y/y’

A Reality Check on Oil Supply for Newt Gingrich (TOD)

The willful ignorance of politicians about energy is nothing new, but Gingrich has made an absolutely astonishing claim. — RF

Fuel, power generation companies in deep water (India)

„Power managers failed to ease power shortage in the country because of non-payment of accumulated amount of Rs 367.977 billion to fuel and power generation companies.”

Pindi Railway division runs out of diesel (Pakistan)

Pimco’s 4 „Iran Invasion” Oil Price Scenarios: From $140 To „Doomsday”

Is Thorium the Energy Panacea We Have Been Waiting For?

No. Just like conventional nuclear power, this would be dependent on the fossil fuel-powered industrial infrastructure, which is already crumbling. — RF

China oil majors’ refining losses draw media skepticism

Ameren casts dark cloud over cleaner coal plant

Tight Oil Inventories Support Record Prices

Green energy could trigger ‘catastrophic’ blackouts

„Solar panels and wind turbines are a ‘volatile’ source of power with fluctuations in the electricity supply risking ‘grid instabilities’ and triggering wide-scale blackouts.

„Ageing infrastructure and increasingly cross-border electricity networks have heightened the likelihood of a devastating collapse of power supplies lasting months and covering several continents, according to the joint report by Allianz and the Chief Risk Officer Forum.”

South Korea’s Lee Myung-bak dons thermal pants to save power

It was nonsensical and arrogant in the first place to think we could discard our long johns. Soon national leaders around the world will be begging their citizens to conserve, whereas ironically they have always been begging us to consume. — RF

Gas shortfall may cross 2bcfd mark (Pakistan)

Transformer industry fears crisis due to raw material shortage (India)

Crude flirts with $100 per barrel

JinkoSolar Slides Down

„It seems like players in the solar industry are going to face another earnings season where their profits could tank big time.”

European Union Wants Post-Soviet Members Nuclear Reactors Permanently Offline

Commodity Prices Will Remain High and Volatile for the next 20 Years: McKinsey

Solar Stocks Target Prices Fall Sharply

Diesel Shortage Being Felt in Northern BC (Canada)


National taskforce will be set up to tackle metal theft (UK)

Drivers being put at risk by metal thieves (UK)

Copper Wire Thefts Plague City Street Lights (US)


Rising costs take shine off farm income figures (UK)

The Role of Rising Food Prices in Egypt’s Revolution

‘Population growth, climate change hit Gulf food security’

2.6 million Afghans face food shortage

Government warns villagers against stealing relief food (Tanzania)

Grape tomatoes recalled over salmonella concern

Fertiliser shortage of 240,000 tons expected in December (Pakistan)

Rising peanut prices rippling from food banks to fast food

Monsanto Corn May Be Failing to Kill Bugs, EPA Says

„Rootworms in Iowa, Illinois, Minnesota and Nebraska are suspected of developing tolerance to the plants’ insecticide, based on documented cases of severe crop damage and reports from entomologists, the EPA said in a memo dated Nov. 22 and posted Nov. 30 on a government website. Monsanto’s program for monitoring suspected cases of resistance is ‘inadequate,’ the EPA said.”

Lingering joblessness taxes nation’s food banks (US)

70% more food needed to feed the world by 2050

Peanut butter prices going up

„Peanut butter is disappearing from some food bank shelves, particularly in the Midwest, as peanut butter manufacturers raise their wholesale prices by 20 percent to 40 percent.”

Dry, Warm Autumn Brings Risks For W.Europe Grains

Climate change, extreme weather spike food prices

Hay Shortage In Arkansas

Land, water scarcity threaten food security: U.N.

Daikon radishes in the garden and in the kitchen


Burning Love (the New Yorker on fracking)

Farmland birds at lowest level since 70s (UK)

Extreme Weather Photos Of The Week From Around The World

Swiss ski resorts hit by drought

New Icelandic volcano eruption could have global impact

Violent wind storm leaves path of destruction in West (US)

Federal report: Arctic much worse since 2006

Drivers stuck after rain causes flooding in Scotland

Pollution from Industrial Facilities Costs Europe $229 Billion

Fukushima fallout: time to quit nuclear power altogether

„Because of soil contamination, one-eighth of Fukushima’s soil can never be plowed again, and the consumption of crops grown on such plots is strictly forbidden. Many local companies have gone bankrupt, while 20,000 individual proprietors are on the brink of insolvency.”


Surviving Progress (film review)

Carrier IQ Admits Holding ‘Treasure Trove’ of Consumer Data, But No Keystrokes

Senator Floats Alternative to Internet Blacklisting Bills

Patient Data Breaches Surge as Hospitals Scrimp on Security

America’s critical infrastructure security response system is broken

Cellphone emergency call service failed following East Coast quake

Researcher’s Video Shows Secret Software on Millions of Phones Logging Everything

Air Force Extends Secret Space Plane’s Mysterious Mission

In world’s biggest democracy, parliament doesn’t work

Just part of the general dysfunction affecting governments around the world. — RF

Must read: 96 hours to the stone age: How quickly our connected lives crumble when the power goes out

Fears Budapest public transport system facing imminent collapse

Check-in system meltdown: Qantas issues handwritten boarding passes

United Nations agency ‘hacking attack’ investigated

Cisco: Cloud traffic fast approaching the zettabyte era

IL water system pump failure not cyber attack

Hackers Briefly Take Down Portuguese Parliament Website

Smart meters trigger Wi-Fi blackout

Feds Seize 150 Domain Names in Counterfeit Crackdown


Japanese nuclear generation dwindles

„If no reactor restart approvals are given, all of Japan’s units could be out of operation by mid-2012.”

Keep in mind that idle reactors are a heavy financial burden to the utilities that own them. Even if not operating, they must still be staffed and managed, and cooling systems must be kept running. — RF

Shorting Japanese Bonds: Betting Against The Italy Of Asia

„With debt servicing already amounting to 14% of the Japanese budget, a 200 basis point rise will make the Japanese government insolvent.”

Try finding a job at 60

„Few employers are looking for senior citizen employees, but senior citizens, increasingly, are looking for jobs.”

Govt bill eyes fuel reserves for disasters / Change based on gas shortage after March 11

Miyagi Pref. begins thyroid testing for kids near Fukushima border

TEPCO’s interim Fukushima report short on answers

Tepco: Staff at nuclear plant felt helpless

Japan to store emergency fuel in South Korea

Business spending in Japan down 9.8% in July-Sept. qtr

Tepco study shows water for spent fuel was critically low

Saga reactor halt leaves nine still on

„Saga — Kyushu Electric Power Co. shut down the No. 1 reactor at its Genkai nuclear power plant for regular checks Thursday, leaving only nine of the nation’s 54 commercial reactors in operation.”

Japan Damaged Nuke Plants Still Not Under Control

Cesium-137 deposits 50 times more than previous record

TEPCO, industry ministry secretly agreed to abandon nuclear reprocessing plant in 2002

All N-fuel may have fallen to outer vessel / TEPCO: Up to 68 tons likely melted in No. 1 reactor, eroding concrete of containment unit

Hashimoto’s victory sets stage for nuclear power showdown with Kepco

Fukushima Pref. to ask TEPCO to shut N-reactors

TEPCO pulls plug on N-plant / Utility unable to secure funds due to huge compensation payouts

„Tokyo Electric Power Co. has decided to discontinue construction of the No. 1 reactor at its Higashidori nuclear power plant in Aomori Prefecture, as it cannot secure sufficient funds due to compensation payments it is making in connection with the crisis at the Fukushima No. 1 nuclear plant, sources have said.”

Japan faces years of food contamination fears

Gov’t calls on citizens, businesses to begin winter energy-saving measures

Japan Premier Boosts Spending to Counter Economic Uncertainty

Flat-TV Sales Tumble Record 90% In November

Toshiba to close 3 chip plants due to strong yen

Fukushima Radiation Risks „Severely Underestimated„: Greenpeace

Fukushima governor wants all 10 nuclear reactors in prefecture scrapped

Study shows deeper meltdown than thought at Fukushima nuclear reactor

Nuclear cleanup volunteers’ invisible enemy

Japan forex move exceeds Y9 trillion

„Japan sold 9.09 trillion yen from late October to stem the currency’s rise against the dollar, the finance ministry said Wednesday, amid fears over the nation’s post-quake economic recovery.”

Bond Yields Advance to Highest in a Month on Debt Concerns: Japan Credit

„The nation’s public borrowing will exceed 1 quadrillion yen in the year through March as the nation pays for reconstruction from a record earthquake.”

Kansai Electric says reinforcing Fukui nuclear facilities will cost Y200 bil

The bill for nuclear power just keeps ballooning. — RF

High cesium level found in Date rice

Radioactive rice reaches public; more shipments suspended

Tepco Sells $2.4 Billion KDDI Stake to Raise Compensation Funds

BOJ Governor: Japan Faces Severe Situation

Is It Finally Japan’s Turn?

„Swaption spreads are their highest in seven months – traders are paying more now to lock in cost of future JPY funds on the expectation of rising rates…and at the same time, the difference in prices for puts and calls in the FX option market are the most bearishly biased in over seven years.”

Fukushima Daiichi nuclear plant director sick, says TEPCO

Nuclear insurance group won’t renew Fukushima plant’s liability insurance

Japan October Jobless Rate Jumps to 4.5%

The real unemployment rate is likely between 10 and 20%. — RF


China’s 20tr yuan debt limits growth

China Coal Price May Rise 5% as Imports Increase 15%, UOB Says

China Hikes Aviation Fuel Prices

U.S. Students Take Note: China Axes College Majors That Don’t Pay

Chinese grain harvest rises for the eighth consecutive year

But it’s still not nearly enough. — RF

China’s Creeping Foreign-Oil Addiction

China’s Bind: How to Avoid a Crash Landing (WSJ)

Chinese leaders scramble to shore up sagging economic growth amid dim global outlook

China’s Ordos property bust offers warning sign

„The monumental, neo-Mongolian sculptures, empty plazas and hulking concrete shells of buildings in Ordos district, deep in the steppes of Inner Mongolia, are a potent symbol of how China’s property boom can turn to bust.”

Incredibly Anemic Performance of Chinese Stock Market; Decoupling in Reverse?

China Residential Property Prices Slip In November

Chinese manufacturing activity slows

„Weak performance underscores case for monetary stimulus as EU crisis weighs on world’s second-largest economy.”

Pilots’ shortage: Campus recruitment drive in China

China cuts bank reserves in policy shift to lift economy

China to Increase Power Prices

„‘Despite persistent high inflation, China [has decided to] finally bite the bullet in raising electricity tariffs, which in our view foreshadows domestic price hikes for gasoline and diesel in the not-too-distant future,’ said Gordon Kwan, head of energy research at Mirae Asset Securities.”

China winter-spring power shortage forecasts

Power price hike in China imminent

Diesel restocking takes China oil demand to five-month high

China to Embrace Fracking In an Effort to Ramp up Energy Production

Shenzhen sells debt in bond pilot scheme

Euro debt crisis hits Chinese exporters, says a survey

A Cold Winter Looms For China’s Once Red Hot Property Market

„It’s been a rocky month for China’s real estate industry. In the first week of November, brokerages in the southern metropolis of Shenzhen have seen a 60% year on year drop in sales volume, while average home prices in Shanghai dropped to a 6 month low.”

Chinese Profit Growth Slowing as Real-Estate Curbs Bite: Economy
Property Risks ‘Overshadow’ China Outlook: OECD


Police had to use own mobiles during August riots

„Police were forced to use their own mobile phones during the August riots after a multi-billion pound radio system collapsed, according to a leaked internal report on how UK forces responded to the disorder.”

Most Britons believe children will have worse lives than their parents – poll

UK banks charging as much as 800,000% on overdrafts

£8.5 billion „black hole” from HS2 high-speed rail link – report

115 jobs lost at steel plant

U.K. to be world’s first to dispose of plutonium in underground repository

Fuel poverty affects a quarter of UK’s households as bills soar and pay freezes

„Inadequate heating contributes to ‘excess’ winter deaths, which are already running at 27,000 a year.”

Warning to banks on eurozone crisis

„Bank of England Governor Sir Mervyn King today urged banks to brace themselves for a potential eurozone collapse amid fears that Britain is caught in a second credit crunch.”

Cocaine found on 11% of UK banknotes

Public sector pensions talks will be damaged by pay squeeze, warn unions

PSNI to close 34 police stations in cost-cutting drive

British embassy staff leave Iran following ransacking of diplomatic offices

Met considers buying water cannon

Strike hits 76% of schools

Heathrow and Gatwick braced for queues as border staff strike

Osborne confirms pay and jobs pain as growth slows

Public sector job losses to hit 600,000 by 2016

Borrowing up by an extra £111bn

„The Government is set to borrow £111 billion more over the next five years than previously expected, according to forecasts by the independent tax and spending watchdog, as the UK moves to the brink of a double-dip recession.”

UK on the brink of double-dip recession, warns OECD

Bank governor Sir Mervyn King warns of hard times

Retailers facing gloomy Christmas


Banks Make $13 Billion on $7.7 Trillion in Secret Fed Loans; SEC Stands by Does Nothing

Las Vegas is ground zero for America’s housing collapse

Another FAA Shutdown Looming?

Bachmann On Immigration: Deport All The Undocumented

Postal Cuts To Slow First-Class Mail

„Facing bankruptcy, the U.S. Postal Service is pushing ahead with unprecedented cuts to first-class mail next spring that will slow delivery and, for the first time in 40 years, eliminate the chance for stamped letters to arrive the next day.”

Earnings Outlook Deteriorates Rapidly; Reduced Forecasts Greatest in 10 Years; Don’t Worry Companies Will Still „Beat the Street”

Black Friday Gun Sales Break Records

Detroit To Be Taken Over

Hospitals facing critical shortage of anesthesia meds

The Ten States Where The Most Unemployed Could Lose Benefits

Unreliable buses highlight Detroit’s worsening fiscal crisis

„If you call 911 to have an ambulance take you to the hospital, there’s a likelihood that ambulance won’t come.”

American Airlines pensions may strain PBGC

What If a Clearing House Failed?

„Clearing houses may be the next too-big-to-fail institutions. These circuit-breakers of the financial system weathered the collapse of MF Global and Lehman Brothers, and clear trillions of dollars of transactions every day. But they are about to take on a lot more risk, and there is no plan in place to deal with a big player failing. That should set alarm bells ringing.”

Poor get less help with fuel this year

„Hit by steep cuts in federal funds, fuel assistance programs are expected to run out locally in mid-December, casting the region’s advocates for the needy into a panic: As temperatures drop and heating oil prices rise, how will their clients stay warm?”

Federal funds for heating assistance already burned

„Weeks before winter officially arrives, federal funds designated to help the poor pay heating bills have already been exhausted in Atlanta, officials said Wednesday.”

Fed hawks say central banks can’t solve fiscal woes

Unemployment rate decline not as good as it sounds

Charts of the Day: Labor Force and Unemployment Rate Adjusted for Population Growth Since 1948 Show Falling Unemployment Rate is „Statistical Mirage” (Mish)

„Those who think the economy is improving based on the falling unemployment rate are looking at a statistical mirage based on an extremely atypical and prolonged drop in the labor force.”

The Real Employment Situation Report

US Needs To Generate 263,700 Jobs Monthly To Return To Pre-Depression Employment By End Of Obama Second Term

NASA satellites find Texas aquifers at record low

Michigan Plans Review of Detroit’s Finances

Civil rights lawyers move to fight Occupy evictions nationwide

Judgment day for housing shadow inventory already here – Foreclosure inventories reach an all-time high.

Death of Sprawl: Past and Future

US Debt/GDP Hits Post WW2 High 99.5% Following $55 Billion Overnight Debt Increase: Total Debt Now Over $15.1 Trillion

Newt Gingrich Pledges To Build Double Fence Along Entire Mexico Border

Alabama Immigration Law Prompts Additional Training For 16,000 Police Officers

Indefinite Military Detention of U.S. Citizens Not Blocked By The Senate For The Second Time

Obama lawyers: Citizens targeted if at war with US

First-time jobless claims rise by 6,000

U.S. Jobless Claims Unexpectedly Rise

It wasn’t unexpected to anyone paying attention. — RF

Mass. AG hits big banks with foreclosure lawsuit

New Jersey Aid Holdup May Force Towns to Borrow to Pay Workers

About those car sales: GM Channel Stuffing Surges To All Time Record

Fed can’t prop up BofA and other banks forever

Blue chips can’t keep up the rally

Graduating from College? Hope You Learned How to Tend Bar

One in five American homes ‘underwater’

Cancellations Plague Pending Home Sales

„Thirty-three percent of Realtors reported at least one cancellation in October, which is up from 8 percent a year ago.”

U.S. States Face $40 Billion in Deficits in 2013, Groups Say

Abracadabra! Bankrupt Cities are Suddenly Un-Bankrupt! (Or Not)

The muni bond bust WILL happen. — RF

Dow Jones Industrial Average Jumps 490 Points; Biggest Gain Since March 2009

Don’t get excited. This is just the pump phase of another pump-and-dump operation. — RF

400 Dow Points Aren’t What They Used to Be

Tens Of Millions Of American Families Are Living On The Edge Of Desperation – And The Economy Is About To Get A Whole Lot Worse

Kucinich: Federal Reserve has captured control of our government

Small Banks Are Getting Smaller

Evicted but defiant, Occupy LA faces crisis moment

„Police rousted Occupy LA protesters from their encampment Wednesday, meaning the movement must reinvent itself to survive. But Occupy LA leaders say they’ve got a lot up their sleeves.”

14th Consecutive Week Of Stock Outflows: Retail Refuses To Go Back Into Stocks No Matter What Market Does

How the U.S. Is Becoming a 3rd World Country – Part 2

American Airlines files for bankruptcy

Is Bankruptcy ‘Business As Usual’ For Airlines?

Airlines keep edging toward oblivion. Soon, only the rich will fly. — RF

Western states see comeback of cattle rustling

Senators Demand the Military Lock Up American Citizens in a

„Battlefield” They Define as Being Right Outside Your Window (ACLU)

30 Signs That The United States Of America Is Being Turned Into A Giant Prison

Hard Times Generation: Families living in cars

Kansas City seen as hub for drug traffickers from Mexico
Computers as furnaces?

This has no future because grid failure is inevitable. — RF

The Federal Reserve Did Everything In Its Power To Save Banks And Nothing To Save Jobs

99 Percenters Hurt More By Austerity Measures Than The 1 Percent: Study

New Rules of Supply and Demand: Sacrificing Inventory To Save the Store

Retirement Preparation in U.S. Reaching Crisis Levels: Small-Business Survey

I have repeatedly said that retirement will be for rich elites only. — RF

Hank Paulson And The Wall Street/Washington Axis Of Power

Emergency Manager Appointed to Take Control of Finances in Flint, Michigan

BofA, Goldman, Citi Credit Ratings Reduced by S&P

Dallas Fed Manufacturing Survey shows contraction in November

U.S. Outlook Cut to Negative by Fitch After Committee Fails

Fed secretly handed out $8 trillion

80% Of Bond Managers Expect QE3 In 2012, Says JPMorgan

Congress to Vote Next Week on EXPLICITLY Creating a Police State

Cargo thefts rise during holiday weekends, especially over Thanksgiving

‘Rags to riches’ stories becoming less likely, Wells Fargo study shows

„Economic mobility – a family’s ability to improve its financial situation – has slowed for America’s lowest-paid workers since 1980, meaning it’s getting harder to make „rags to riches” a reality, according to a recent report from Wells Fargo & Co.”

Coincidentally (or not), it was in the 1980s that oil prices started to climb. — RF

Cost to give ’12 Days of Christmas’ tops $100K

Waiting for midnight, hungry families on food stamps give Walmart ‘enormous spike’

US Consumer Debt Falls In Third Quarter

Fewer New Homes Sales in U.S. Than Forecast

Average New House Price Drops To Lowest Since 2003

Shortfalls Add to California Economic Woes

„As California struggles with debt and fiscal discipline, flawed projections in anticipated government revenues are showing a current budget year shortfall of $810.5 million.”

More than 1 in 5 Americans are economically insecure

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