Headlines for today

Just headlines today - but gives an impression.

I don't recall any of this making news here in New Zealand.

Many thanks to Collapse Net.

Dow Average Extends Longest Drop Since 1978 as Commodities Fall on Economy

Bloomberg

U.S. stocks climbed, erasing earlier losses and preventing the longest Dow Jones Industrial Average slump since 1978, as investors speculated the Federal Reserve will start another stimulus program. Treasuries 10-year notes erased gains and the dollar slid.

The Dow halted an eight-day drop, gaining 29.82 points to 11,896.44 at 4 p.m. in New York. The S&P 500 rose 0.5 percent after yesterday’s 2.6 percent plunge erased the gauge’s 2011 advance and left it trading at its cheapest valuation in more than a year. Ten-year Treasury yields rose less than one basis point to 2.62 percent, just above an almost nine-month low. Oil slid to a five-week low following government data showing an increase in stockpiles. The franc fell from a record versus the euro and dollar after Switzerland reduced interest rates.

However in Europe....

Almost eight stocks fell for every one that gained in the Stoxx Europe 600 Index. Societe Generale SA slid 9 percent as France’s second-largest bank said it may miss its 2012 earnings target after second-quarter profit fell.

The franc depreciated 1.7 percent to 90.80 euro cents after strengthening to a record yesterday as investors pursued assets considered to be the safest. The franc weakened 0.9 percent from an all-time high versus the dollar.

For article GO HERE

Hackers target 72 organizations in 'biggest cyber attack in history'

the Telegraph

Security company McAfee, which uncovered the intrusions, said it believed there was one "state actor" behind the attacks but declined to name it, though one security expert who has been briefed on the hacking said the evidence points to China.

For article GO HERE

China's Energy Shortages Start to Bite

Asia Sentinel

New reports say the effects are starting to ripple across society

The magnitude of China’s enormous need for new sources of power is starting to come clear, with rationing expected in as many as 10 major areas between now and September, according to a number of reports issued recently. 

For article GO HERE

This Is The Way The World Ends

Forbes

After watching the gridlock unfold in Washington with progressive depression about our country’s future, a startling conclusion welled up in my psyche. Our way of life wouldn’t end in a nuclear holocaust or even an environmentalist’s nightmare like the Atlantic Ocean flooding our east coast progressively north from Florida.

The USA would fall apart from the Tea Party’s dream of a balanced budget, less government and certainly a lower tax base for everyone but especially for the rich and famous. The Koch brothers win out as tireless investors in diminishing the role of government, particularly how it infringes on their petrochemicals empire’s impact on clean air and ground pollution.

For article GO HERE

Asia-Pacific Bloodbath Begins, Expect Europe to Follow Suit

Mish’s Global Economic Analysis

The Asia-Pacific bloodbath, following the US bloodbath is now underway. Australia, Japan, Taiwan, South Korea, and Hong Kong (Hang Seng) are all down over 2%. South Korea is down nearly 3%.

China is down only .64%. However, China was smacked yesterday more than any of the others. Australia and China both look anemic

For article GO HERE