Wednesday, February 15, 2012


News Links, February 16, 2012

## Global Ponzi meltdown/House of Cards ##
Euro zone ponders delay of 2nd Greek bailout program
Farage On Greek Chaos: "You Ain't Seen Nothing Yet"
Greece spiralling into catastrophic depression
Greece is being forced out of eurozone, Venizelos claims
Eurozone output falls on debt crisis worries
"Europe's sovereign debt crisis seems to have affected the economic growth of a number of countries, with Italy and the Netherlands pushed into recession, according to latest data."
Euro Area Q4 'Flash' GDP at -0.3% q/q, First Negative Reading Since Q2 2009
Paulson Says Euro Will Probably Unravel
"Paulson & Co., the $23 billion hedge fund whose founder John Paulson is seeking to recover from record losses last year, said Greece may default by the end of March, triggering the breakup of the euro."
EU to Punish Spain for Delaying Austerity Measures, Playing Games with Deficit Projections; Unprecedented Spanish Bond Front-Running; European Job Losses Accelerate (Mish)
For some Pakistanis, suicide the only way to escape poverty
Qatar begins hotel frenzy, 6,000 new rooms delivered
Russia Dumps Treasurys For 14 Consecutive Months; China Slashes Holdings To Lowest In Over A Year

## Fault lines/flashpoints/powder kegs/military/war drums ##
Iran trumpets nuclear advances, deepening standoff with West
Fears over Iranian oil exports send crude prices soaring
"State-run TV in Iran claims Tehran has stopped exporting oil to the Netherlands, Greece, France, Portugal, Spain and Italy"
Iran Oil Ministry Denies State Media Reports on EU Oil Stop
"Iran's Oil Ministry on Wednesday denied state media reports that the Islamic state stopped making crude exports to six European countries."
Analysis: Iran decides to give its Western adversaries a taste of their own medicine
"Simply by threatening to pre-empt the embargo and halt all sales to Europe, Iran can frighten the oil market and talk up the price of its biggest export. In the process, Tehran can boost its revenues and remind any adversary, particularly a crisis-hit country like Greece that depends heavily on Iranian crude, that the balance of economic power is not entirely one-sided."
Syria's Neighbors Fear That Fighting Could Spread
Syria's Assad offers vote, tanks shell rebel areas
Libya invites Syria rebels to open Tripoli office
"Libya will let Syria's opposition National Council open an office in Tripoli, Libya's interim leader Mustafa Abdel Jalil told Al Jazeera television on Wednesday."
Explosion hits oil pipeline in Syria's Homs
Russia warns US against deploying Aegis ships in northern seas
"The Russian Chief of Staff, General Nikolai Makarov, today warned the US against stationing Aegis-equipped ships in the Black and northern seas."

## Global unrest/mob rule/angry people/torches and pitchforks ##
Over 120 hurt in Bahrain clashes, dialogue sought
Is an Arab Spring in the air for Algeria?
Senegalese police fire tear gas at protesters
Occupy Newark protesters evicted
Camps Gone, US 'Occupiers' Prepare for Next Step
"Their encampments are largely gone, but the U.S. "Occupy" movement is far from dead, with organizers focused on a next wave of protest."

## Energy/resources ##
Fuel Shortage Forces Closure Of Gaza's Only Power Plant
"The power plant supplies around a third of electricity in the Hamas-controlled territory, with the remaining being supplied by Israel."
And Israel itself is not exactly blessed with excess energy. -- RF
Argentina On Verge Of Unprecedented Energy Shortage Warns IAE
"Argentina's Energy Institute (IAE) warned that the country faces an 'unprecedented energy crisis' with strong drops in hydrocarbons reserves, production and the loss of self sufficiency."
South Africa Caught in Fallout from Increased Sanctions Against Iran
Lack of Power Lines Prevents New Offshore Wind Farms in Germany
IEA sees decline in Saudi oil output
IEA frets over Sudanese oil dispute
"The International Energy Agency said revenue disputes between Sudan and South Sudan means overall production estimates are down 25 percent."
Risks to Global Oil Supply Rival Late 1970s: Report
"The potential threats to the global oil supply—especially Iran's vow to close the Strait of Hormuz—have not been this great since the Iranian Revolution and Iran-Iraq War three decades ago, according to a report by Deutsche Bank."
Germany powers France in cold despite nuclear shutdown
E-Cat 'Cold Fusion' Machine: Claims of Fraud Heating Up

## Got food? ##
500m children 'at risk of effects of malnutrition'
Pan-fried crickets: The food of the future?
China Signs $4.3B of Soybean Deals With U.S.

## Environment/health ##
Counterfeits of Roche Cancer Drug Found in US Market
Extreme Cold in Ukraine (slide show)

## Intelligence/security/internet/systemic breakdown ##
FBI May Shut Down Your Internet Access March 8th
Acta loses more support in Europe
"Bulgaria and the Netherlands join Poland and Germany in refusing to ratify Acta, citing privacy and human rights issues"
Napolitano: Hezbollah Attack on U.S. Possible
"U.S. Homeland Security Secretary Janet Napolitano said she is concerned that Iran-backed Hezbollah will attempt a terrorist attack on American soil."
OMG! Are you scared now? -- RF

## Japan ##
Economists: BOJ's 'inflation target' to have limited effect
Elpida Shares, Bonds Slump After Financing Warning
Japan may fund reconstruction with dormant bank accounts
"The government in Japan is contemplating using money from dormant bank accounts to help contribute to the reconstruction efforts following last year's earthquake and tsunami."
Sheer desperation. -- RF
Domestic Consumer Electronics Market Shrank 10% In '11
Methane hydrate test drills set to begin
This will very likely prove to have low net energy. -- RF
Coast guard may not have to board to boot intruder ships
"The government is looking at authorizing the Japan Coast Guard to order foreign ships to leave the nation's territorial waters without onboard inspections."
Japan's nuclear safety standards called flawed

## China ##
Even China Expects Fed to Do Another Round of Easing
China Trims Holdings of Treasuries to '10 Level

## UK ##
UK unemployment stuck at 17-year high as economy flatlines
One in three people out of work for over a year, ONS says
"One in three unemployed people has been out of work for over a year, official figures showed yesterday, as economists warned that unemployment in Britain could soon break through the 3 million barrier."
Hard times see motorists to leave keys at home with car usage falling as cost cutting commuters seek cheaper alternatives

## US ##
Are state 'revenue gaps' the next U.S. fiscal worry?
NYPD "Stop and Frisks" Hit All-Time High
Dow's Tumble Is Worst in 2012
Could you ride out a Great Depression?
"When the Great Depression hit, many Americans were able to live off the land and wait it out. In today's sour economy, that's less of an option."
US Industrial Production Unexpectedly Flat in January
Student Loan Crisis Busts Retirement Savings
Counting Florida's homeless (CNN video)

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