Friday, March 16, 2012


News Links, March 17, 2012

## Global Ponzi meltdown/House of Cards ##
Euro zone may up bailout fund capacity to near 700 billion euros: officials
Go ahead. Beef up your bailout fund. Make more loans. But there isn't enough money in the world to bail out all the countries that will go belly-up. -- RF
The Fool's Game: Unravelling Europe's Epic Ponzi Pyramid Of Lies
"Stated more simply; none of the data that we are given about sovereign debt in the European Union is the truth, none of it."
Spanish Debt Load Hits New High
Spain – The Next Domino Is Getting Ready to Tumble
India Deficit Surpassing 5% for Second Year Limits Rate-Cut Room
Norway Risks Housing Bubble
In France presidential battle lines drawn on austerity

## Airline Death Spiral ##
IATA: Air cargo industry is under pressure
"Air cargo operators need to be careful in the coming years, a leading consultant warned at the IATA World Cargo Symposium in Kuala Lumpur.
"The warning is the second in as many days for the air cargo industry about its future."
Transat posts wider loss on high fuel costs
"Transat AT Inc (TRZb.TO) reported a wider first-quarter loss, hurt mainly by high fuel costs, and the Canadian holiday travel operator forecast a slightly weaker second quarter."
India Allows Airlines to Import Jet Fuel

## Fault lines/flashpoints/powder kegs/military/war drums ##
Payments system SWIFT to expel Iranian banks Saturday
US threatening India over Iran oil, penalties could be imposed
India Could Become the First Large Casualty of the US Sanctions on Iran
Shoot In The Foot: Iran oil ban to recoil on EU (RT video)
Cameron: UK would not support Israeli strike on Iran
Gunboats, Super-Torpedoes, Sea-Bots: U.S. Navy Launches Huge Iran Surge
U.S. Doubling Minesweepers in Arabian Gulf
Iran buys U.S. wheat again, trade set to grow
"Iran has purchased 60,000 metric tonnes (66,139 tons) of U.S. wheat, the U.S. government said on Thursday, raising the two-week tally to 180,000 metric tonnes, which industry sources said reopened grain trade ties between the two countries embroiled in a stand-off over Tehran's nuclear ambitions."
Qaeda claims deadly west Iraq police attack
"Al-Qaeda's front group in Iraq said on Friday that it carried out a shooting spree in western Iraq this month that left 27 police dead, including two officers killed execution-style."
South Korea to stage major drill in Yellow Sea
Afghanistan's Karzai slams United States over massacre
CSTO To Exercise In Armenia; SCO In Tajikistan (And Uzbekistan To Stay Home)
India Hikes Defense Spending By 17%
"India on March 16 boosted military spending by 17 percent to $40 billion for the coming year as it seeks to counter China's rapid military buildup and its traditional rival, Pakistan."
Vietnam Says Cnooc's South China Sea Bids Violate Territory
Karzai: US Not Cooperating in Massacre Probe
Saudi Arabia closes embassy in Syria

## Global unrest/mob rule/angry people/torches and pitchforks ##
Tibetan monk in self-immolation bid in China
Anti-poverty protest takes over financial district (Canada)
"About 150 protesters took to the streets in Toronto's financial district Friday afternoon to protest what they describe as a 'corporate-led austerity' agenda in the provincial budget."
Italian lawyers strike over austerity measures
Occupy Protesters Clash With Police In South St. Louis

## Energy/resources ##
Resources boom won't last forever: Robb (Australia)
"Opposition finance spokesman Andrew Robb has warned that Australia's China-led resources boom won't last forever, but the federal government says he should stop 'trash talking' the economy."
Gas, fuel shortage creates mass outages (Pakistan)
"Electricity shortfall rose on Thursday beyond 6,000 megawatt (MW) that is almost 50 per cent of total 13,000MW demand in the country, thus necessitating a 10 to 14 hours loadshedding throughout the country."
Kurds claim Iraq owes $1 bn for oil pumped in 2011
Israeli strike on Iran could raise gas prices to $6 per gallon, analysts say (US)
Miqati to IRNA: We'll Purchase Electricity from Iran by End of April
Lebanese Prime Minister Najib Miqati said Thursday that Lebanon plans to overlap its electrical power shortage by importing electricity from Iran by the end of April.
Exclusive: Saudi oil sales to U.S. jump; Iran response or just business?
But all that Saudi oil going to the US will not be going to other countries. And that puts still more pressure on the have-nots to rely on Iran. Duh! -- RF
Asian Supergrid to Connect Japan, China, Russia, Korea, and Mongolia
But it will only exist on paper. -- RF
Korean nuclear plant systematically covered up power glitch
Peak oil is real and will stunt any economic recovery
"During the last century, society squandered 500 million years of captured sunlight on drag races, traffic jams, private jets and overheated office buildings - warns campaign group"
Gulf Coast Diesel Gains With European Inventories at 7-Week Low

## Infrastructure scavenging ##
Thieves steal copper wire worth $12,000 from North Vancouver job site
Metal Thieves Target Skate Park (UK)
"Large metal panels, which provide parts of the park's surface, have gone missing, resulting in the council spending over £1000 in recent weeks having them replaced. The panels are also welded and riveted in place."

## Got food? ##
When and How to Plant Potatoes
I recommend that you don't plant all your potatoes closely together in one place. Interspace them with other crops, or split your crop among several plots, if possible. A disease outbreak, such as mildew, can spread through an entire crop in one night and wipe everything out otherwise. -- RF

## Environment/health ##
PHOTOS: Spain suffers its worst drought in more than 70 years

## Intelligence/security/internet/systemic breakdown ##
The NSA Is Building the Country's Biggest Spy Center (Watch What You Say)
Power consumption: 65 MW.
8 Creepy Spy Technologies That Can Be Hitched to Your Neighborhood Drones
China Corporate Espionage Boom Knocks Wind Out of U.S. Companies

## Japan ##
Edano says Japan facing power shortage in summer
"Japan is likely to face a power shortage this summer, even more so than last year, Economy, Trade and Industry Minister Yukio Edano said Friday."
Crude oil may take a bigger share of Japan's power market in 2012
Work resumes on Aomori atomic fuel storage site
But this is an interim facility; there is still no permanent facility.

## China ##
China's new rules for microblog users take effect
"Millions of microblog users in China are now facing new rules, as authorities try to prevent the spread of what they call 'unfounded' rumors."

## UK ##
Public servants in poorer regions to get lower pay
Broken wind turbine? Call the British armed forces
"Expanding renewable energy businesses short on engineers could set their sights on ex-servicemen whose skills are seen as surplus to requirements in Britain's austerity drive."

## US ##
More than 20,000 California teachers pink-slipped
The Texas free market for electricity just isn't cutting it
Wall Street Pimps and Whores Story Extends Far Beyond Goldman Sachs: Merrill Lynch, Citigroup, Bank of America, Morgan Stanley, All Guilty (Mish)
Sears to shutter 53 hardware outlets
White House: No release of oil reserves
Energy pushes rise in consumer prices
Gallup Struggles to Explain BLS Jobs Data
Real Hourly Earnings Decline in February
Bonds get rocked! Is the low-rate era over?
U.S. Carrier Costs Will Breach Cap Next Year
"The U.S. Navy expects cost growth on its largest shipbuilding project to continue, and will need to ask Congress next year for permission to pay the higher-than-planned-for bills."

And finally…
Emails from the dead
Bear bites Florida woman in rear end as she walks her dog
Man accused of masturbating near road
But it's OK to go on national television and tell outrageous lies. -- RF

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