Friday, March 02, 2012


News Links, March 3, 2012

## Global Ponzi meltdown/House of Cards ##
Southern European Money Migrating North to Safety
U.N.: Eurozone crisis slowed manufacturing
"The financial crisis in Europe put a significant drag on global manufacturing in 2011, a U.N. report released Thursday said."
For Shippers, 2012 Is a Year of Crisis: Dry Bulk Operator
"Lack of funding, oversupply and poor freight rates are going make 2012 a 'crisis' year for the shipping industry, says Andrew Broomhead, CFO of Hong Kong's largest operator of dry-bulk vessels Pacific Basin."
For Shipping Sector, More Defaults on Horizon
"The global slowdown in the shipping industry is claiming more victims, and industry experts expect more defaults as heavy debt loads and tight financing squeeze the weaker players."
Dubai's Drydocks to present $2.2bn debt plan next week
Canada Expansion Slows to 1.8% Annual Pace as Growth of Exports Moderates

## Fault lines/flashpoints/powder kegs/military/war drums ##
Afghan clerics demand punishment for Koran burners
"Senior Afghan clerics said on Friday the burning of Korans at a NATO base last month was an 'evil act' that must be punished, a demand that could deepen widespread public anger over the incident."
Obama Says Military Option on Iran Is Not a 'Bluff'
"President Obama, speaking days before a crucial meeting with Prime Minister Benjamin Netanyahu of Israel, stiffened his pledge to prevent Iran from acquiring nuclear weapons, even as he warned Israel of the negative consequences of a pre-emptive military strike on Iran's nuclear facilities."
U.S. has military plan should Iran conflict erupt, says air force chief
Israel to test Arrow-3 anti-missile system
Suicide bomber kills 23 at Pakistan militant base
Pentagon Confirms: US Troops in South Yemeni City of Aden
Beijing in Fresh Sea Row With Hanoi

## Global unrest/mob rule/angry people/torches and pitchforks ##
Strike hits First Quantum's Zambia copper mine
Quebec students clash with police at tuition hike rally
Occupy London demonstrators continue protest in Finsbury Square
China stifles Tibetan Buddhist unrest
"In an effort to stamp out resistance to Chinese rule, police have been scanning licence plates and faces for unwelcome visitors, and school dormitories have been randomly checked for books that clash with Communist ideology."

## Energy/resources ##
Saudi Arabia Fire News Oil-Price Swing Shows Global Supply Vulnerability
"The reaction highlighted 'the reduced ability of the market to absorb supply shocks or mere headlines of supply shocks, given the limited spare capacity and inventory buffers,' Amrita Sen, an analyst at Barclays Plc in London said in a note to investors today."
Israel Electric seeks government aid to buy fuel for power generation
"Israel Electric Corp has informed the government that it will be unable to purchase fuel for electricity production in the peak summer months without massive government assistance, the state owned IEC said in a statement late Thursday."
For Israel, a more pressing problem than Iran appears to be whether it can keep the lights on. -- RF
World can replace oil lost to Iran sanctions - U.S.
Power crisis takes toll on spinning mills (India)
Germany to cut solar power subsidies
Worker Shortages Seen in Australia's Energy Sector
Ghana: Load Shedding Is Back!
Mindanao firms hurting from 4-hour power outages (Philippines)

## Got food? ##
Colorado River rice farmers unlikely to get water
Texas rice farmers won't get water for irrigation
Could This Radical College Change the World Economy?

## Intelligence/security/internet/systemic breakdown ##
Pentagon suffers Internet access outage
"An unspecified number of Defense Department personnel in the Washington D.C. area and in the Midwest were cut off from the public Internet for nearly three hours on Thursday because of technical problems, a department spokeswoman said Friday."
Informant society: Angry Birds, Meet Jailbirds: New App Helps You Snitch on Your Friends
"In less time than it takes to play a turn in Words With Friends, smartphone users can report a 'suspicious person' to the West Virginia Department of Homeland Security."
Report: Hackers Seized Control of Computers in NASA's Jet Propulsion Lab
AntiSec dumps Monsanto data on the Web

## Japan ##
Deflationary Pressure Persists in Japan
"The world's third-largest economy is still far from a strong recovery, new data show: Japan's core consumer prices fell again in January, indicating persistent deflationary pressure, while household spending recorded a sharper-than-expected decline and the jobless rate ticked higher."
Companies abandoning disaster-stricken areas
Quake-hit areas still struggling with debris
AIJ likely lost pension funds trading futures

## China ##
In China, reporting on Tibetan and Uighur unrest is nearly impossible

## UK ##
Petrol price hits record high
Diesel prices predicted to reach 150p as petrol hits new record

## US ##
Millions of retirees can't afford basic living expenses
"More than 9 million retired Americans don't have enough money to cover basic living expenses, according to a new study."
Public Pension Ponzi Scheme; New York Cities Borrow From Pension Plan to Make Contributions
NSA Power Grab: New Legislation Would Give It Broad Powers To Spy On 'Critical' Private Networks
Bank of America Clash with Fannie Mae Intensifies; Insurance Disputes Put Taxpayers On the Hook For Still More Losses
ERCOT Predicts Possible Power Pinch This Summer

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