Wednesday, March 28, 2012


News Links, March 29, 2012

## Global Ponzi meltdown/House of Cards ##
Arab Spring Turns to Economic Winter
China to Contribute to Europe Rescue Efforts
We've heard this how many times now? China continues to string the West along. -- RF
Global oil import bill heads for record $2 trillion
"Oil consumer nations are set to pay a record $2 trillion this year for oil imports if crude prices do not fall, the International Energy Agency (IEA) said on Tuesday, undermining economic recovery."
Europe's Austerity Push Breaks Social Model
Weak Kuwait government caves in to wage pressures

## Airline Death Spiral ##
Huge Spanish Passenger and Freight Transport Disruptions This Week
Oil price clipping the wings of Asia Pacific air cargo carriers
"Pressure grows on sector already burdened by overcapacity"
Air France-KLM stops Manila-Europe flight
Kingfisher slashes summer schedule; no infusion in sight
Air India 'losing nearly $2 million a day'
Aegean Air Posts Higher Loss on Rising Fuel Costs, Greece
China Eastern Falls to Five-Month Low on Air China Outlook
"China Eastern Airlines Corp. (CEA) (CEA), the nation's second-largest carrier by passenger numbers, fell to a five-month low in New York as larger competitor Air China Ltd. (753) said passenger growth may slow this year and on a report that the government may raise jet fuel prices for April."
US Airways Set for a Rough Ride

## Fault lines/flashpoints/powder kegs/military/war drums ##
BRICS not bound by "unilateral" sanctions on Iran: S. Africa
"The BRICS group of countries have broadly agreed they are not bound by 'unilateral' sanctions on Iran, measures that threaten higher global oil prices and could result in supply shortages, South Africa's trade minister said on Wednesday."
A crumbling empire and its demands are rapidly becoming irrelevant. See next article. -- RF
Brazil to rally BRICS against rich countries
"Brazil will push for its large emerging-market peers including China to denounce what it sees as unfair monetary policies by Europe and the United States, raising the stakes in a global confrontation over economic imbalances."
Saudi diplomat kidnapped in Yemen: security source
"Gunmen kidnapped Saudi Arabia's deputy consul from outside his residence in the southern Yemeni port city of Aden on Wednesday, a Yemeni security official said."
U.S. could fly spy drones from Australian territory
"Australia on Wednesday said it may allow Washington to use its territory to operate long-range spy drones, as part of an increased US presence in the Asia-Pacific that has rankled China."
Exchange of fire along Israel-Egypt border: army
Libya militias resume fighting after ceasefire
Tzipi Livni overthrown as leader of Kadima
"Tzipi Livni has lost her position as leader of Israel's opposition party Kadima, depriving the political scene of its last major figure with pro-peace credentials."
Egypt Military Warns Against Interference in its Business Interests
"Egypt's ruling military has warned against any interference in its murky economic empire amid a burgeoning power struggle with Islamists who control parliament, state media reported March 28."

## Global unrest/mob rule/angry people/torches and pitchforks ##
Sixth day of power outage protests in Pakistan
"In Lahore, protesters blocked roads by burning tyres at the Laxmi Chowk, Baghbanpura and Ichhra areas. All markets, shops and business centres were closed during the protests while a large number of protesters also attacked the Lahore Electric Supply Company (Lesco), Ferozpur road circle and set the office record, furniture and computers on fire."
Airport closed in violent rally (Indonesia)
"Protests across the archipelago turned violent on Monday, culminating in the storming of Polonia International Airport in Medan, North Sumatra, which disrupted flights and left hundreds of passengers stranded."
Ford India faces labour unrest
Unpaid Bulgarian Lead Workers Threaten Large Unrest
Protests against Italy's Monti rising
"Italy's three main trade union federations will hold a joint protest rally against Prime Minister Mario Monti's economic reforms on April 13, the head of the country's largest union, Susanna Camusso, said on Tuesday."
Fuel price hike sparks protest (Nepal)

## Energy/resources ##
World oil output drops amid gulf fears
"Global production has fallen by 1.2 million barrels a day in recent weeks, about the same as the volume lost during Libya's eight-month civil war in 2011."
Blackouts turn faucets dry in Mindanao areas (Philippines)
"THE faucets have run dry on some islands in Mindanao after the eight-hour daily blackouts knocked out their deep-well pumps"
DOE: Power shortage in Mindanao to last for one more month
Energy minister: We are working on backup fuel sources (Israel)
India crude oil demand hits second highest level in Feb: Barclays
"Indian crude oil demand in February 2012 has risen to the second-highest level on record, supported by robust diesel and gasoline consumption, said Barclays Capital in a daily research note."
Power outage deprives Karachi of 180m gallons water
Bt cotton - less miracles, more failures for Indian farmers
Massive diesel laundering operation uncovered by customs officers in Co Cavan (Ireland)
France discussing strategic oil release with UK, U.S.
Japan, U.S., EU discuss rare earth supply security
Tajikistan seeks Turkmen gas as shortage looms

## Environment/health ##
Energy: Looking for the free ecological lunch
U.S. Heat Waves to Intensify From New York to Los Angeles

## Intelligence/security/internet/systemic breakdown ##
FBI Taught Agents They Could 'Bend or Suspend the Law'

## Japan ##
Reactor 2 radiation too high even for robots
"Radiation inside the reactor 2 containment vessel at the Fukushima No. 1 nuclear plant has reached a lethal 73 sieverts per hour and any attempt to send robots in will require them to have greater resistance than currently available, experts said Wednesday."
High radiation means delays in decommissioning crippled Fukushima reactors
Tokyo working out deployment plans ahead of N. Korean launch
Chip maker Elpida removed from Tokyo Exchange

## China ##
China to unify descriptions of islands on maps
"China plans to unify map descriptions of islands in the East China Sea and the South China Sea--including the Senkaku Islands--to strengthen its arguments in territorial disputes, local newspapers said March 27."

## UK ##
UK GDP fell faster than previously estimated in fourth quarter, ONS says
Britons See Disposable Incomes Plunge Most Since 1977: Economy
Fuel strike: David Cameron tells drivers not to panic, but they are advised to top up cars and petrol cans
Fuel strike: pumps go dry as ministers provoke a panic
"Panic buying broke out at petrol stations throughout the country today as ministers were accused of spreading fear by telling motorists to stock up on fuel in case of a strike by tanker drivers."
Lloyd's of London sees loss after natural catastrophes
"The insurance market Lloyd's of London has announced a loss for 2011, saying it was its worst year for catastrophe claims."

## US ##
Another Weaker Than Expected Durable Goods Order Portends Weaker Than Expected GDP
Sen. Rand Paul blocks Iran sanctions bill
Higher gasoline prices could stem travel plans
"Rising gasoline prices in the United States could lead business and leisure travelers to cut back on travel plans, which in turn could have implications for airlines, hotels and retailers, a survey found."
Report: Student Loans For K-12 Are On The Rise
Peter Schiff: Market-Crushing Treasury Collapse To Hit Around 2013
Downtown L.A. to Add 5,300 Hotel Rooms Over Five Years
Use real money, go to federal prison
US Gasoline Prices Top $3.90

And finally…
Starbucks confirms insect product in drink
Spanish Sex Workers Strike Against Bankers

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