Thursday, February 09, 2012


News Links, February 10, 2012

## Global economic meltdown ##
Greece bows to new austerity measures – but still a bailout deal is not finalised
Merkel's Official Denial "I will have no part in forcing Greece out of the euro"; Schäuble Starts Salami Tactics on German Participation, Calls for Vote
Eurozone pushes for separate Greek debt account
Greek debt infographic
Asia-U.S. Container Lines Seek $500 Annual Box Rate Increase
"The container industry was under 'severe pressure' last year and 'we still see an unhealthy balance between supply and demand,' Michael Pram Rasmussen, chairman of Copenhagen-based Maersk, said yesterday in the company's employee newsletter."
Airlines Ponder Careful What's Wished for in A380 Glut: Freight
PepsiCo Says It Will Cut 8,700 Jobs Worldwide
Global Mutual Fund Assets Down 11% In July-Sept

## Fault lines/flashpoints/powder kegs/military/war drums ##
Israel teams with terror group to kill Iran's nuclear scientists, U.S. officials tell NBC News
"Deadly attacks on Iranian nuclear scientists are being carried out by an Iranian dissident group that is financed, trained and armed by Israel's secret service, U.S. officials tell NBC News, confirming charges leveled by Iran's leaders."
Israel's 'narrow view' of Iran threat 'frustrating White House'
"US officials reportedly criticised Israel's preoccupation with the notion that a military strike on Iran is becoming increasingly likely."
Iran postpones implementing oil export ban on EU
Iran turns to barter for food as sanctions cripple imports
Bartering is the oldest — and the newest — form of trade. With System D taking over the moribund global economy, Iran is on the cusp of the new era. Ironically, the fiat currency-based economies of countries sanctioning Iran, including the US, are dying. -- RF
Report: Iran adds 2 submarines to naval fleet
EU asks India to pressure Iran over nuclear program: report
Iran's Oil Exports to India Up by 37.5% in January
Israel and Iran: Nuclear Double-Standards
"It is worth noting that Iran is still a ratified member of the Treaty on the Non-Proliferation of Nuclear Weapons and claims that all its nuclear activities are peaceful and are allowed under the Treaty, accusations that Iran is cheating notwithstanding.
"Meanwhile, Israel openly defies the Treaty by refusing to sign it."
Exclusive: U.S. military seeks more access in Philippines
Bold Alligator war game preps US allies for new threats
"The Bold Alligator exercise involves scenarios of mine warfare, fighting in shallow water and fending off attacks from smaller boats; methods known to be familiar to the Iranian Navy."
Syria uprising is now a battle to the death
Syria: Iran's elite Quds force 'advising Assad regime'
Japan Scrambles Fighters to Meet Russian Bombers
Mexico Cargo Theft Increased 13% Year-Over-Year, Lower Than Normal

## Energy/resources ##
Global Oil Demand May Rise 1 Million Barrels a Day, CNPC Says
Saudi Arabia 'pledges secure energy supply' to South Korea
After The Gold Rush: A Perspective on Future U.S. Natural Gas Supply and Price (The Oil Drum)
Everything you know about shale gas is wrong
"I have already shown that we do not have a 100-year supply of natural gas, and that gas production is not profitable at today's prices. I also noted that the U.S. Energy Information Administration recently slashed its resource estimate by 42 percent.
"But now there's even more bad news: U.S. gas production appears to have hit a production ceiling, and is actually declining in major areas."
Burn or Earn?: Natural Gas Prices Slipping Away from Commercial Viability
Canada, North American Energy Powerhouse, Now Faces Fracking Protests
Oil, Food, Water: Is Everything Past Its Peak?
Imagine a world without oil: Infographic
"Thanks to our oil addiction, such a world would include rolling blackouts, minimal transportation, dwindling food supplies and possibly war."
Expensive Helium Could Make Party Balloons A Thing Of The Past
China Buys Into Portuguese National Power Company, Politicians Aghast
Gazprom reviews Nord Stream line 2
First Solar To Idle Half Of Its Germany Factory
US Refined Product Imports to Increase
"In a counter-intuitive report from Bloomberg News, a new survey of shippers indicates that gasoline exports from Europe to the US are set to increase by 18% over the next two weeks. The estimate is based on the number of tankers hired on the spot market to make the Rotterdam-to-New York trip."
Freeze forces Germany to restart nuclear reactors: Report
Haiti - Economy : Shortage of gasoline in the country

## Got food? ##
Global food prices up in Jan, snap 6-month downtrend
Urban Garden? Check. Now, Chickens.
World Wheat Supply Tops Record as Harvest Gains Fuel Price Slide

## Environment/health ##
Greek Doctors Battle Hospital Superbug

## Intelligence/security/internet/systemic breakdown ##
Switch glitch brings down Virginia police network
Apple supplier Foxconn hacked in factory conditions protest

## Japan ##
US Marines may leave Japan before base closure
At Sony, No Area Is 'Sacred' to New CEO
Japan Machine Orders Drop 7.1%, Exports Down 3 Consecutive Months; Predicted Growth or Predicted Mirage?
Economists Cut Japan's FY12 Growth Outlook To 1.86%
More part-timers to become eligible for health insurance, pension programs
Two significant points: First, this is official recognition that there are fewer full-time jobs, and that they aren't coming back. Second, health insurance and pension programs are in dire straits, and the government is desperate to bring more people in. -- RF
Oi reactor restarts still in limbo after passing stress test
Nuke dangers nowhere near resolved: Kan's crisis adviser
"In December, Prime Minister Yoshihiko Noda announced the 'conclusion' of the meltdown crisis at the Fukushima No. 1 nuclear plant, saying Tokyo Electric Power Co. was managing to keep the three crippled reactors cool, as well as the facility's spent fuel pools.
"But a former special adviser to Naoto Kan, who was prime minister when the crisis started, warned that the situation is far from resolved and said Fukushima has exposed a raft of serious nuclear problems that Japan will have to confront for years."
Automakers predict sharp plunge in group operating profits for fiscal 2011

## China ##
China inflation rises to 4.5% in January
China Diesel Shortage May Double If Mideast Tensions Flare
China fuel price hike no cure for bleeding refiners
"The government said in November that China's refining sector lost 1.17 billion yuan in the first 9 months of last year, though losses reported by the nation's two leading refiners, Sinopec and PetroChina Co Ltd were significantly higher.
"Simon Powell, a petrochemical analyst at CLSA, said refiners needed a further 10 percent increase in fuel prices or a drop in crude, combined with no sales price cut, to return to profit."
China poised to launch government bond futures -paper
China plan to create 45m jobs in three years
"China plans to create 45 million new jobs over the next three years despite worsening employment opportunities, the government announced on Thursday."
China Passenger-Vehicle Sales Tumble by 24%, Missing Estimates

## UK ##
Bank of England injects another £50bn into UK economy
Solar subsidy cuts spark job fears
"The Government today unveiled plans for further cuts to solar subsidies, sparking concerns over the future of the industry and thousands of clean-tech jobs."

## US ##
10 Things That Every American Should Know About The Federal Reserve
Must read for those who still think the Federal Reserve is federal. -- RF
Congress Trying to Fast-Track Domestic Drone Use, Sideline Privacy
Anyone can buy guns, no questions asked
"Legal loophole permits weapons powerful enough to down aircraft to be sold without checks"
US licenses first nuclear reactors since 1978
McCain: U.S. must protect Syrian protesters
$25 Billion Later, The Worst Isn't Over For Big Banks
Foreclosure Deal to Spur U.S. Home Seizures
The insiders are selling heavily
"Corporate insiders are now selling their companies' stock at a rate not seen since late last July."
Guilded Age: Mega-Mansions Keep Rising Despite Bad Economy (MarketWatch video)
"Even as the size of the average American house shrinks after peaking during the boom, several of the wealthy are building gigantic homes of 20,000 square feet and more."
How close is your home to a nuclear power plant?
Postal Service pleads for help as losses continue
Fewer young adults hold jobs than ever before

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