Saturday, March 03, 2012


News Links, March 4, 2012

## Global Ponzi meltdown/House of Cards ##
Spain Defies EU on Deficit
"Madrid Cites Worsening Economy in Going Back on 4.4% Pledge; Now Sees 5.8%"
Eurozone Wrapup: Unemployment Rate 10.7%, Highest Since 1999; Manufacturing PMI Contracts 7th Month; German Retail Sales Unexpectedly Fall (Mish)
Greece Ratings Cut by Moody's
Cutting Greece's rating has become symbolic now. Everybody knows it's toast. -- RF
Greek manufacturing slump deepens in Feb: PMI
"Greek manufacturing shrank at its fastest rate in at least thirteen years in February as production and new orders declined at record rates, driving the sector deeper into recession and forcing firms to shed more jobs, a survey showed on Thursday."
Titan profits dive as Greece cement demand crumbles
"Titan, Greece's biggest cement producer, posted an 89% drop in 2011 net profit on Thursday and forecast further declines this year after the collapse of the building industry in its recession-hit home market."
Greek Antiquities "Reburied for Lack of Funds"
"Lack of funding in crisis-hit Greece has stymied archaeological research and leads experts to rebury valuable discoveries to better protect them, a Greek daily reported on Friday."
Jamaica Seeks Greek-Style Bailout to Aid Growth, Leader Says
Be careful what you wish for! -- RF
Kingdom aims to become an industrial state: Al-Rabiah (Arab News)
Saudi Arabia has trouble supplying fuel to its own cement factories, but it's going to become an industrial state? -- RF

## Fault lines/flashpoints/powder kegs/military/war drums ##
Syrian forces pound Homs, block aid convoy
U.S. security team attacked in Yemen, bomb injures 22
"A gunman opened fire on a U.S. security team as it trained Yemeni soldiers in the south of the country, the Pentagon and a security official said on Friday, both denying reports from an Islamist group that a CIA officer was killed in the assault."
Protests grow as civilian toll of Obama's drone war on terrorism is laid bare
Greek Police and Illegal Immigrant Smugglers Open Fire on Greek-Turkish Border

## Global unrest/mob rule/angry people/torches and pitchforks ##
Saudi poet's arrest spurs online campaign
Occupy May Seem To Be Receding, But Look Closer

## Environment/health ##
BP's $7.8 billion deal may speed payments for U.S. spill

## Intelligence/security/internet/systemic breakdown ##
Hackers winning security war: executives
NASA says it was hacked 13 times last year
Forecasting a collapse: Author draws attention for his view on futility of fossil fuels search
Survival books to keep on your bookshelf in case of the apocalypse

## Japan ##
Evaporating Japanese Pension Fund Assets
Contamination level is increasing in Tokyo Bay
From broken temp sensors to leaky pipes, Fukushima nuke plant plagued with problems
TEPCO to insert thermometer through pipe into Fukushima reactor
China, Taiwan slam Japan for naming disputed islands
Radiation fears haunt food shoppers in Japan
Local gov'ts, farmers struggle with hundreds of tons of radiation-tainted rice straw

## China ##
China's February Non-Manufacturing Index Falls in Sign Economy Weakening
China hedging its bets on U.S. government debt, data show
"The nation's slowing accumulation of U.S. Treasuries suggests it is trying to diversify its holdings and is looking for other places to stockpile its trove of foreign exchange."
Chinese village unites for symbolic poll in bid to end graft

## UK ##
Lamb virus is here, warns Chief Vet
"The Schmallenberg virus, which has caused thousands of lambs to be born dead or deformed, may already be here to stay, the chief vet has warned."

## US ##
Must read: Americans Will Need "Black Markets" To Survive
Gas prices appear headed for record
States slash birth control subsidies as federal debate rages
"Even as a national debate rages over contraception insurance, tens of thousands of low-income women and teenagers across the United States have lost access to subsidized birth control as states slash and restructure family planning funds."
U.S. Food-Stamp Use Hit Record 46.5M in Dec.
Bernanke Warns That "Money Market Mutual Funds Not 100% Safe"
"Just last week SEC chairwoman Mary Schapiro also warned that a run on a single money market fund 'could trigger a broad and destabilizing' follow-on in the $3 trillion money market funds that hold the short-term savings and deposits of individual investors and are often considered their safety funds in case of an emergency."
If Stockton Is Broke, Why Isn't San Diego?
Keep watching for that inevitable sh*tstorm of muni bond defaults. -- RF

And finally… Exploding bubble gum kills student

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