Sunday, March 04, 2012


News Links, March 5, 2012

## Global Ponzi meltdown/House of Cards ##
Financial Woes Keep Spanish Airport Grounded
"The project in Valencia — Spain's most indebted region — ran out of money before any deals with airlines were signed. Though the airport held a 'grand opening' last year, the terminal still hasn't seen a single passenger."
Kingfisher denies shutdown rumours
"Cash-strapped Kingfisher Airlines yesterday denied rumours that it planned to shut down operations after pilots threatened strike over a delay in paying salaries and other dues."
Singapore Airlines raises fuel surcharge
"Singapore Airlines (SIA) said Friday it would raise fuel surcharges by up to $28 for each leg of a flight due to high oil prices, a persistent problem that has ravaged airline earnings world-wide."
Asia fills aviation funding gap amid Europe's woes
"Capital-starved airlines worldwide are turning to Asian lenders to fund their ambitious fleet upgrades as the industry's traditional streams of financing in the West dry up, experts say."
Emirates eyes hedging to guard against fuel costs
"Dubai's Emirates airline may revive its hedging programme to help guard against soaring fuel costs, which forced it to pay an additional $1bn in its half year results alone, its chairman said."
Brazil sells off shares in struggling airports
"Aging infrastructure under scrutiny as major sports events approach"
Brazil Declares New Currency War on US and Europe; Japan Losing Balance of Trade Battle
IIF backs financial restructuring for Greece
Portugal prays for rain as drought adds to crisis
"After Portugal's driest February in 80 years, farmers are praying for a miracle as drought ravages pastures and sparks forest fires, exacerbating the country's economic crisis."
Poor Brazilians eke out life in seized high-rises
Mexico's off-the-book street vendors an economic force
"The street vendors belong to an army of off-the-book workers who make up a record 14 million Mexicans pumping money into the informal economy, the national statistics institute reported this month."
Jamaica's famed coffee industry facing hard times
Asian nations consider doubling funds available in CMI
"Asian nations are considering doubling the amount of money available in a regional emergency reserve fund in an attempt to stave off the negative effects from the government bond crisis in Europe."

## Fault lines/flashpoints/powder kegs/military/war drums ##
India cancels crude oil import from Iran due to shipping problem
"A tanker of Shipping Corp of India was denied insurance since it seeked to import Iranian oil…
"India is meanwhile mulling on providing sovereign guarantee to domestic shipping lanes. The Press Trust of India quoted Shipping Secretary K Mohandas as saying that 'The government is exploring options like sovereign guarantee and Cost & Freight for importing crude from Iran in the wake of European sanctions.'"
Iran to supply Armenia with gasoline and oil products
Pakistan says ready to import Iranian diesel fuel
Iran overcomes sanctions, exports $1 billion ethanol
Khamenei allies trounce Ahmadinejad in Iran election
Obama warns against 'loose talk' of war on Iran
"Obama said the 'bluster' about a military strike was counterproductive because it has been driving up global oil prices, boosting demand for Iran's oil and helping to offset the impact of sanctions on its economy."
Secret State Agencies: 'No Hard Evidence' Iran Building Nukes, March to War Continues
Israelis Face Off Over Orthodox Military Exemption
Tearful Putin claims victory in Russian election
India Reject Reports of U.S. Troops on Its Soil
"India has denied as "factually incorrect" a report that U.S. special operations troops were stationed in the country as part of counter-terrorism cooperation."
America's maritime power
"Now that the US is substantially reducing its military spending and withdrawing from present wars, its future intentions, and those places it will seek to control, are becoming clear. The most important will be the Pacific and the South China Sea"
Cargo theft in Brazil violent and growing
"As the 7th-largest world economy and one that has been growing at break-neck speed, Brazil is becoming a more important market for pharmaceuticals. But getting product delivered in the country can be a very dicey undertaking. Unlike in the U.S., cargo theft in Brazil is almost always a violent crime.
"In fact, it is so violent that cargo increasingly is accompanied by armed escorts. Even so, FreightWatch International reports that there have been shootouts, including a Dec. 27 incident in which one guard was killed and another wounded."

## Global unrest/mob rule/angry people/torches and pitchforks ##
Tibetan burns herself to death in China protest
"A Tibetan woman set herself on fire in southwestern China on Sunday to protest against Chinese rule, a Tibetan rights group said, the latest in a series of self-immolations that signal growing unrest in the Tibetan areas of China."
The black market thugs hired by regime to stop Chinese protesters
"As some 10,000 protestors attempt to reach Beijing this week to bring their cases to the attention of the Chinese government, a vast industry has sprung up to try to stop them."
Occupy West Palm Beach protestors refuse again to leave downtown encampment
Chicago police prepare for G-8, NATO demonstrations
Protests grow as civilian toll of Obama's drone war on terrorism is laid bare

## Energy/resources ##
Nigeria's NNPC Says Unrest Cuts Oil Output by 1 Million Barrels
"Oil production in Nigeria, Africa's biggest producer, is down by about 1 million barrels a day because of violence and theft in the Niger River delta, according to the state oil company."
Scarcity of aviation fuel disrupts flights (Nigeria)
"Scores of passengers were stranded at various airports across the nation during the weekend due to scarcity of aviation fuel, otherwise known as JET A1."
Frequent power outage may continue for few more years (Bangladesh)
Offshore wind industry is risky: Wind Energy Update
Deepwater Oil Drilling Accelerates as BP Disaster Fades (NYT)
There is no choice. -- RF
For Europe, Costly Oil Could Be 'the New Greece' (WSJ)
"Concerns over the surging cost of Brent crude are growing as analysts warn that Europe could be at the center of an oil-price shock.
"Rising oil prices have leapt ahead of the long-running euro-zone debt crisis as the most pressing problem facing the global economy, according to some analysts. HSBC labeled oil's remorseless climb 'the new Greece,' in a nod that worries over global contagion from Europe have receded for now."
Gaza factories face closure amid fuel crisis

## Infrastructure scavenging ##
State seeking to tear down old fair buildings
"The Colorado Department of Agriculture and the state architect say scavengers seeking scrap metal have been breaking into the buildings."

## Got food? ##
Rawesome Foods' James Stewart arrested in $1 million warrant

## Intelligence/security/internet/systemic breakdown ##
Cyber Intrusions Into Air Force Computers Take Weeks to Detect
"The enemy is already in our network."
Who can shut down cell phone service? FCC seeks public comment
Twitter turns over Occupy user's data to police
United hit by delays as glitches beset system merger
"United Airlines battled service problems including flight delays, faulty kiosks and jammed phone lines this weekend as it worked through technical glitches during its combination of the United and Continental Airlines reservation systems."

## Japan ##
Ministry hid data on fallout from public
"SPEEDI forecast judged too chilling to be released: internal memo"
Food poisoning incidents significantly higher than in official statistics: report
"The actual number of bacteria-related foodborne illness incidents in Japan could be hundreds of times more than what official government statistics show, a recent report indicates."
State action to cover pension loss not in cards
Tsunami forced manufacturers to rethink globalized production
"When small unheard-of factories on Japan's tsunami-hit coast were knocked out of action, few people would have predicted that it would cause the global car industry to come screeching to a halt."

## China ##
China boosts defense budget 11 percent after U.S. "pivot"
"China will boost military spending by 11.2 percent this year, the government said on Sunday, unveiling Beijing's first defense budget since President Barack Obama launched a policy 'pivot' to reinforce U.S. influence across the Asia-Pacific."
China Billionaire Calls Government a 'Monopoly'

## UK ##
Revealed: government plans for police privatisation
"West Midlands and Surrey police offer £1.5bn contract under which private firms may investigate crime and detain suspects"

## US ##
Enbridge says no timeline for pipeline restart
"Enbridge Inc said on Sunday it does not know yet when it can restart a key segment of its oil pipeline system in the U.S. Midwest, after a deadly vehicle accident in Illinois caused an oil leak and fire, likely squeezing supplies for refiners in the region."
Byron nuclear declares second "unusual event"
"This is the second time in around a month that the unusual event classification has been given to an incident at the Byron Generating Station. It was declared after the facility lost power from an outside source."
The rent is too darn high for many Angelenos
Gas prices force cash-strapped cities to get creative
30-year mortgage rate falls to 3.9 percent
Gingrich: Economy Set To "Crater" Due To Gas Prices

And finally… Japanese develop 'SpeechJammer' gun to shut up tiresome talkers
Show me one person who doesn't have an idea on how to use this. Just one. -- RF

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