thanks to Satori for the following story!
DailyKos: "Last warning before the Autumn 2011 shock, when $15 trillion of US financial assets go up in smoke"
thanks to RJ at Global Glass Onion for the links he sends, be sure to check out his Friday wrap-up of the financial news. He has a great blog and if you missed anything during the week, he probably has it posted!
Also, my dear friend the Ozarker at Conflicted Doomer. be sure to check out her wonderful essays that she writes. hope you all have a great weekend!
And now for the news.
Japan
Bloomberg: Beef Contamination Spreads in Japan as Fukushima Radiation Taints Straw
WashingtonPost: Japanese Prime Minister Naoto Kan calls for phase-out of nuclear power
Global Conflict
RawReplay: CNN exposes ‘terror expert’ as a fraud
CNN reported Wednesday that a so-called terrorism expert that is paid with tax dollars and has even appeared on their own network may be a fraud.BusinessInsider: Is This The Beginning Of A Global Revolution?
Walid Shoebat claims he converted to Christianity after years as a Palestinian Liberation Organization terrorist who once helped firebomb an Israeli bank in Bethlehem. But CNN’s Jerusalem bureau could find no proof that that his story was true. The Israeli police and the bank had no evidence that a firebombing ever took place.
Anger over unemployment and rising commodity prices has caused people to turn against their governments around the world.
MSNBC: US, other Western nations declare Gadhafi regime no longer legitimate
Diplomatic recognition of main opposition group means US will be able to fund Gadhafi foes
CNN: Sources: U.S. drone strike kills at least 50 in Yemen
RawStory: Hundreds of thousands protest against Syrian regime
WSJ: Cyberwar Plan Has New Focus on Deterrence
PBS: NewsHour: Pentagon Gears Up for the Digital BattlefieldThe Department of Defense is gearing up for a different kind of conflict -- on the digital battlefield -- with a new cybersecurity strategy.
LegitGov: Pentagon to treat cyberspace as operational domain
SeattleTimes: Chinese general takes aim at U.S. military
BEIJING — China's top general, Chen Bingde, the chief of the general staff of the People's Liberation Army, publicly admonished the United States on Monday for a wide array of issues, ranging from spending too much on its military during an economic downturn to the timing of joint exercises with other nations in the South China Sea.
Hosted: Libya denies report Gadhafi would blow up Tripoli
MOSCOW (AP) - The Libyan government is denying a Russian newspaper report that allegedly quoted the Kremlin's special envoy to Libya as saying Moammar Gadhafi has threatened to blow up Tripoli if it falls into rebel hands.
ABCNews: Afghan civilians dying in record numbers: UN
UPI: Resolve differences, official tells Sudans
WashingtonPost: Libyan rebels hampered by lack of weapons
Bloomberg: Libya’s Opposition Council Is Accepted by Europe, U.S. as Sole Government
The U.S. and allies meeting to discuss Libya have recognized the Transitional National Council as the sole legitimate governing authority in the country, a step that allows for greater funding for the group whose forces are fighting to oust Muammar Qaddafi.
VancouverSun: Bomber kills 4 at memorial for Afghan leader's brother
Reuters: Syrians mount biggest protests so far, 20 killed
(Reuters) - Syrian security forces shot dead at least 20 protesters on Friday as hundreds of thousands of people took to the streets across the country in the biggest protests so far against President Bashar al-Assad.
VancouverSun: U.S. may pull tactical nukes out of Europe: Report
Hacker News
Telegraph: Pentagon reveals 24000 files stolen in cyber-attack
Guardian: Phone hacking: both Murdochs agree to face MPs following jail threat
Summons from parliament forces both Rupert and James Murdoch to give evidence to culture select committee
CSMonitor: Want to leak to Julian Assange? An Aussie PO box is your only shot
RawStory: Pentagon: 24,000 files stolen from defense contractor
Telegraph: FBI to investigate Rupert Murdoch's News Corp.: Did it hack 9/11 victims?
Financial News
Reuters: The horrifying AAA debt-issuance chart
BusinessInsider: Middle Class Poverty And Unrest In America
Poverty is on the rise in America, and buying passivity with cheap bribes has limits when applied to a fraying middle class.
NPR: The Man Behind The GOP's No-Tax Pledge
One person with outsized influence in the debate over raising the debt ceiling is not at the negotiating table. Instead, he sits in downtown Washington at the offices of Americans for Tax Reform, a group he has run for a quarter century.
Americans for Tax Reform President Grover Norquist speaks on Capitol Hill in April.
TimesofOman: The debt crisis will change the way we live in EuropeTHIS is not just about the indebtedness of Greece; nor that of the other weak eurozone countries; nor about the future of the euro; nor, as we will learn today, that the liabilities of the British government are far higher than the official figures suggest; nor even the real possibility that the US itself may default in the next three weeks if Congress cannot agree to an increase in its borrowing limit.CNNMoney: Moody's shows U.S. turning Japanese
We are seeing all of this of course. But we are also catching a glimpse of something even bigger. This is the way in which the entire role of governments in Western democracies is starting to shift — has to shift — as they look across the chasm between what they are expected to do for their electorates and the resources they have available to do it.
We are beginning to see how government 50 years from now will be quite different from anything in our lifetime.
ChicagoTribune: Emanuel to send out layoff notices today
Mayor Rahm Emanuel said he will send layoff notices to up to 625 city employees today as he tries to close a $30 million budget hole.
CnnMoney: U.S. losing grip on world's largest companies
LifeInc: Recession's toll: About five years of retirement
BusinessInsider: Credit Suisse Is a Target of U.S. Private-Banking Tax Probe
SFGate: Moody's could lower 7,000 U.S. municipal ratings
Spiegel: The Western Culture of Waste: We Should Be Outraged! At Ourselves
Germans want to end nuclear power and turn to renewable energy, but they keep buying SUVs. Global carbon emissions and oil consumption have risen sharply over the last two environmentally conscious decades -- and the trends will continue, as long as Westerners keep discovering new "needs."
BusinessInsider: Finally! Minnesota Lawmakers Reach A Deal To End The Shutdown
Telegraph: IMF attacks rating agencies over Irish downgrade
The International Monetary Fund (IMF) has joined the attack on credit-rating agencies for cutting Ireland to "junk" status this week.
WSJ: Consumer Sentiment Tumbles
Consumer attitudes hit a wall in the middle of July, falling to the lowest level since May 2009.
LAT: Traffic at L.A. and Long Beach ports falls in June
Cargo drops 4.4% compared with a year earlier. Trade experts say the decline may reflect a return to a more traditional seasonal shipping pattern in 2011.
ZDNet: Why the United States might pay China before we pay our own soldiers
I’ve spent the past week or so trying to get my head around this whole “debt ceiling” debate that’s raging in Washington. Clearly, it’s important, but what does it really mean?
As it turns out, if the politicians screw up, it could be bad. Real bad.
Spiegel: The World from Berlin: 'The US Is Holding the Whole World Hostage'
Consumer Prices Fell 0.2 Percent In June
GlobeandMail: U.S. funds suffer billions of outflows
BusinessInsider: Goldman: These Companies Could Get Crushed If The Government Goes Into Austerity Mode
DomasJefferson: If The U.S. Government Loses Its AAA Rating It Could Potentially Unleash Financial Hell Across The United States
WSJ: GOP lawmakers say House will vote next week on a $2.4 trillion debt-ceiling increase and matching spending cuts. Plan B Emerges on Debt
ZeroHedge: Today's Economic Data Docket - CPI, IP, Empire Index, POMO, Stress Test
Guardian: Moody's sounds note of caution while Bernanke promises support for US economy
Federal Reserve chief admits he is prepared to start third round of quantitative easing if US economy continues to flag
Economist'sView: The Fed's Exit Strategy
AmericanProspect: Fannie-Backwards
How did Gretchen Morgenson, one of America’s best financial reporters, get the story of Fannie Mae’s role in the financial collapse so wrong?
CreditWritedowns: The debt ceiling ratings downgrade
NakedCapitalism: Shades of 2007: Funding Stresses Hit European Banks
YahooFinance: It’s Time to Roll Back Big Government: Rep. Ron Paul Says ‘No’ to Debt Ceiling Increase
NewEconomicPerspectives: Barack Obama: America's First Tea Party President
HousingWire: US homeownership rate could fall further
EVRO: Merkel hides behind procedures, leaving eurozone on the brink of collapse
WSJ: Benefits Take Hit Amid Weak Job Market
TheBaselineScenario: So What?
Everyone (well, the media at least) seems to be acting as if Moody’s downgrading the United States would be a bad thing. I feel like I must be missing something.
First of all, we know what bond ratings are worth. See, oh, the entire past decade for evidence. (It wasn’t just mortgage-backed securities; they didn’t downgrade Enron until after the SEC announced an inquiry and CFO Andrew Fastow was forced out, and less than five weeks before the company declared bankruptcy.)
KeithHennessey: Understanding the McConnell debt limit proposal
Reuters: The damage already done by the debt ceiling debate
CNBC: China Must Quickly Diversify From Dollar: PBOC Advisor
China should speed up diversification of its $3.2 trillion foreign exchange reserves away from dollar assets to hedge against risks of the U.S. currency's possible long-term decline, an advisor to the People's Bank of China said on Thursday.
Reuters: June consumer prices record largest drop in a year
(Reuters) - Consumer prices fell slightly more than expected in June to post their biggest drop in a year on weak gasoline costs, government data showed on Friday, pointing to a cooling in commodity-driven inflation pressures.
MaxKeiser: Hotspots with Max Keiser – Ireland – FULL
Atlantic: Create a Special Job Credit for the Long-Term Unemployed
CBBC: Stocks Could Lose 35% if Euro Crisis Worsens: Report
Bloomberg: Eight Banks Fail EU Stress Test With $3.5B Shortfall
CalculatedRisk: Empire State Survey indicates contraction, Core CPI increases 0.3 percent
Krugman: Evil > Stupid
Atrios likes to say that the eternal question, as you look at absurd policy debates, is whether these people are evil or stupid.
Peak oil and Energy News
WashingtonPost: Mexico's 1st half oil production down 1 percent, continuing 6-year slide
MacroBusiness: Crude solution
David Jones may want to blame Julia Gillard, Barack Obama may want to blame Republican austerity nutters and the EU may want to blame rampant ratings agencies, but what we all really need to get things going again is more simple: cheap oil. (LOL, good luck on that!)
TransitionVoice: Why oil is killing the American farm
BusinessInsider: The Dangerous Feedback Loop Between Peak Oil And Peak Debt
TheEconomist: Trading away cheaper petrol
GlobeandMail: Toronto company makes a non-toxic battery for green cars
SustainableCitiesCollective: Exchange Your Car for a Lifetime Bus Pass
In an effort to promote its new tram system, cut congestion and reduce air pollution, the city of Murcia, Spain is offering a lifetime public transit pass to citizens who give up their cars. The campaign, “Mejor en Tranvía,” (Better by Tram), is an incentive to encourage the use of public transportation in the city.
SeattleTimes: Oil giant ConocoPhillips to split into 2 companies
Oil giant ConocoPhillips said Thursday it will split into two companies: one that produces oil and another that refines it into gasoline and other fuels.
Environmental News
NDReport: Ukraine Tackles its Nuclear Waste Problem
ClimateProgress: An Aggressive Ruling on Clean Air But Another Dirty Water Act
USAToday: Exxon to drain oil from failed pipeline
LAUREL, Mont. (AP) — Exxon Mobil Corp. said Wednesday that it plans to use vacuum trucks to suck any remaining oil from a failed pipeline near Laurel that spilled an estimated 42,000 gallons of crude into the Yellowstone River.
Time: Volcano Erupts in Central Indonesia
The glow of lava from Mount Lokon's eruption is seen against the night sky as seen from Manado, North Sulawesi, Indonesia, early Friday, July 15, 2011.
SOTT: First Study into GM Atlantic Salmon Mating Reveals Danger of Escape to Wild Gene PoolDesdemonaDespair: Dramatic climate swings likely as world warms: Ancient El Niño clue to future floods
MSNBC: Much of central US braces for soaring temps, flash floods
As 'massive heat wave' looms, governors of Oklahoma, Texas ask residents to pray for rain
CNN: Wildfire Comes Dangerously Close to Homes in North Carolina
CNN: Freaky U.S. weather fries eggs, topples trees »
It might only be Thursday, but it has already become a notable weather week. On Monday, a heat wave began to make its way across the United States, pushing temperatures up near the triple digits in 15 states.
CNN: No relief from heat wave in the South, North
ScientificAmerican: Economists Find Flaws in Federal Estimate of Climate Damage
A report concludes that each ton of CO2 emitted inflicts almost 45 times more "social cost" than the federal government estimates
EnergyBulletin: Unburnable Carbon – Are the world’s financial markets carrying a carbon bubble? (Report)
ExtinctionProtocol: Utah highway collapse leads to fatal sinkhole accident and injuries
EnergyBulletin: Will North America be the New Middle East?
The climate problem has moved from the abstract to the very real in the last 18 months. Instead of charts and graphs about what will happen someday, we’ve got real-time video: first Russia burning, then Texas and Arizona on fire. First Pakistan suffered a deluge, then Queensland, Australia, went underwater, and this spring and summer, it’s the Midwest that’s flooding at historic levels.
WindsorStar: Asian carp: Protecting the Great Lakes
Star-Telegram: Gas drillers in DFW urged to do more to curtail emissions
Politico: GOPer to DOE: Don't tell the kids!
A Republican congresswoman wants the Energy Department to stop promoting energy efficiency to kids.
America in Decline
DetroitFreePress: Chrysler: We'll suspend Trenton workers caught drinking on TV
Chrysler said today it plans to identify and suspend workers caught drinking and smoking near its Trenton engine plant.
TheEconomist: Food stamps: The struggle to eat
As Congress wrangles over spending cuts, surging numbers of Americans are relying on the government just to put food on the table
Reuters: Katrina shooting victim hit by bullets from three guns: expert
NEW ORLEANS (Reuters) - A teenager shot dead by police shortly after Hurricane Katrina was hit by bullets from at least three different guns, and received most of his wounds while lying on the ground, a pathologist said on Thursday.
ActivistPost: Executive Order # 13575: The theft of rural and agricultural lands for UN Agenda 21
WiredDangerRoom: Senators Ask Spy Chief: Are You Tracking Us Through Our iPhones?
SeattleTimes: Government to test risk-based airport screening
The Transportation Security Administration (TSA) said Thursday it will test a program to prescreen a small group of select air travelers who volunteer more personal information about themselves so they can be vetted to get faster screening at airport checkpoints.
WSJ: Device Raises Fear of Facial Profiling
Dozens of law-enforcement agencies from Massachusetts to Arizona are preparing to outfit their forces with controversial hand-held facial-recognition devices as soon as September, raising significant questions about privacy and civil liberties.
Food and Water
Bloomberg: Pickens Water-to-Riches Dream Fizzles as Texas Cities Buy Rights
Amarillo, Lubbock and nine other West Texas cities coping with the worst drought in more than 50 years solved some of their water problems by waiting out Boone Pickens, the billionaire Dallas oilman.
BusinessInsider: To Go With All That Meat, China Is Importing Unprecedented Amounts Of Cheese
Blacklistednews: The world’s largest human experiment part two: why Europeans (and everyone else) should be worried
These two independent and highly rigorous studies found that Roundup caused critical cell damage including necrosis, a horrendous process in which cells break down and release their contents into the surrounding area, creating widespread, unmitigated cell death. The Monsanto formulation was found to be much more devastating to human cells than the glyphosate herbicide alone.
The studies that comprised the bulk of part one of this series were published in an American journal, yet the people of the United States seem, on the whole, ignorant of the dangers of Roundup and the specifically modified Roundup Ready genetically modified seeds made to be able to absorb the toxin and live.
HeraldSun: Farmers call for end to CSIRO genetically modified wheat trials
Science and Technology
PopSci: An Inflatable, Portable Satellite Dish that Fits in a Backpack
PopSci: The Final Booster-Cam Video from the Space Shuttle Program
ScientificAmerican: Piece of Mind: Is the Internet Replacing Our Ability to Remember?
NPR: What It Means To Be 'Always On' A Smartphone
Medical and Health
SydneyMorningHerald: Can coffee protect against "superbug"?
People who regularly drink tea or coffee may be less likely to carry the antibiotic-resistant "superbug" MRSA in their nostrils, a new study suggests.
CNN: 300-plus pound student exercised in secret
MSNBC: Elderly ignore heat warnings — because they're not old
Disconnect leaves some seniors vulnerable to danger during sweltering summer
TheChart: Is the Internet replacing our own memory?
Can’t remember the name of the movie you saw last year starring Emily Deschanel’s sister? Or that recipe you used for chicken salad last week?
With an Internet connection and a few keystrokes, you can probably figure out the answer in a matter of minutes, tops. But the flip side, suggests new research in the journal Science, is that when you rely on having information stored somewhere, you may be less likely to remember it yourself.
“We are becoming symbiotic with our computer tools, growing into interconnected systems that remember less by knowing information than by knowing where information can be found,” the study authors write.
TechReview: Evidence Suggests that the Internet Changes How We Remember
A study says that we rely on external tools, including the Internet, to augment our memory.
TheTelegraph: Third patient dies amid hospital saboteur fears
A third death of a hospital patient is being investigated after vials of saline were found contaminated with insulin.
HuffingtonPost: Jin Huiqing, Chinese Doctor, Seeks Bad Driving 'Cure'
Doomsteading, Gardening, Urban Farming
ModernSurvivalBlog: Events that could trigger a National Emergency
ModernSurvivalBlog: Water Procurement for Survival
Bozzle: How to make and use Whitewash
Other News
CNN: 'Big Bang Theory' actress Mayim Bialik a real-life scientist
MSNBC: California orders gay history in school textbooks
Because of budget woes, it could take several years for the material to show up
Forbes: NYC man held in boy's slaying says he hears voices
MSNBC: Mom jumps out of fifth-floor window to save falling toddler
Guardian: Criminalising squatters could make more people homeless, says report
BostonGlobe: 6 shut churches may be sold
Gallup: "Republican Candidate" Extends Lead vs. Obama to 47% to 39%
Margin marks first statistically significant lead among registered voters
ScienceBlog: As Bad As the Democrats Can Be, Republicans Are Worse: The Student Loan Edition
RDMagazine: The Trouble With Harry (Potter): Religious Conservatives Do Have Something to Fear
The Forums
TinfoilPalace:Huge Underwater Volcanoes Discovered Near Antarctica
TinfoilPalace:Cataclysmic Turning of "The Great Solar Serpent" Warned Near (Sorcah Faal)
TheOilAge:Massive Heat Wave Expected Next Week
TheOilAge:Panetta in Iraq to extract new troop agreement
Hubberts-Arms:Pics of Knife Forging and Fabrication Process
Hubberts-Arms:GM Plants- Could They Affect Our Gardens?
SilentCountry:Last Warning Before the Autumn 2011 Shock
SilentCountry:Guy McPherson on the Keiser Report
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