Wednesday, March 07, 2012


News Links, March 8, 2012

## Global Ponzi meltdown/House of Cards ##
Spain and the Netherlands are blanching at EU austerity rules. Who's next?
Indian steel plants on verge of closure on iron ore shortage
Switzerland Wants Its Gold Back From The New York Fed
Australia's Economy Slows Sharply
"Australia's economy slowed sharply in the final quarter of last year as a soaring currency and Europe's financial crisis put the brakes on output, pressuring Prime Minister Julia Gillard and the central bank."
Recession Hits Australia; 21st Monthly Decline in Construction; Service Sector in Contraction, New Orders Plunge; Ring, Ring Goes The Bell (Mish)
"A set of incredibly weak economic reports from down under have left me with in inescapable conclusion that Australia has entered recession."
German Manufacturing Stumbles
"The severity of January's downfall will probably catch experts by surprise and may not bode well for the German economy."
Global shipping stays in doldrums
"Global shipping is in one of its 'deepest lulls in a long time' from which it could take years to recover, head of BP Shipping John Ridgway says."
Greek default? It's already happening, debt deal or not.
Ties That Bind Oil and Dollar Snap
"Traditionally, Crude Fell When Greenback Rose, but Global Influences Have Changed Relationship"
More than half of Nepal's GDP comes from corruption, informal economy
Goldman Secret Greece Loan Shows Two Sinners as Client Unravels
Air Canada's largest union issues strike notice
Why the sell-off is just getting started
Concerns in Germany About Its Gold at the NY Fed, London, and Paris; German Gold Off Limits, Greek Gold Subject to Confiscation
Brazil overtakes UK to become world's sixth-largest economy
Kingfisher Airlines crisis: Oil companies stop fuel supply due to non-payment of dues
Ryan International Airlines files for bankruptcy
What Does the Future Hold for Regional Airports? (US)
"Travelers living near smaller airports have noticed an inconvenient trend: reduced availability of flights at their home airport coupled with soaring ticket prices."

## Fault lines/flashpoints/powder kegs/military/war drums ##
Suicide bomber kills 5 police in Russia's Dagestan
"A female suicide bomber has killed at least five policemen by blowing herself up at a traffic police post in the restive Dagestan region of southern Russia."
Delhi journalist is first arrest in attack on Israeli diplomat
How Iran might respond to Israeli attack
Hamas denies it will attack Israel in any war with Iran
No attack on Iran before the end of the year
"In judgements that cut across a growing international consensus, experts at London's leading defence think-tank said yesterday that, in their view, there would be no Israeli – or US – attack on Iran before the end of the year.
"They also dashed hopes of an early departure of the Syrian President, Bashar al-Assad, saying that, despite the uprising in Homs, he still controlled 70 per cent of the country and rebel forces lacked the capacity to depose him. "
Barack Obama 'moving closer to Israeli position on Iran'
"Barack Obama has promised to drop his opposition to military action against Iran if the Islamist regime does not abandon its nuclear programme within a year, an Israeli official has claimed."
AP: Iran may be cleaning up nuclear traces at military site
'Iran is not telling us everything,' U.N. atomic agency chief says
Is Israel telling us everything? -- RF
Arab public opinion: US, Israel Considered Biggest Threats to Security of Arab World
U.S. Defense Chief Opens the Door to War in Syria
Obama Admin. Decides to Aid Syrian Opposition
Mexico Kills Cartel Big Shot, But Drug Violence Worsens
Sarkozy wants fewer foreigners in France
China Navy officer rejects joint development agreement
"A high-ranking Chinese naval officer on March 6 rejected the 2008 Japan-China agreement to jointly develop the Shirakaba [Chunxiao] natural gas field as well as the countries' 'median line' in the East China Sea."

## Global unrest/mob rule/angry people/torches and pitchforks ##
American Indians Block Pipeline on Reservation, 5 Arrested
"Five Lakotas on Pine Ridge Indian land in South Dakota were arrested Monday after attempting to block two tarsands pipeline trucks from entering their land. According to the Lakota activist the six-hour standoff started when the trucks refused to turn around claiming they had 'corporate rights that supersede any other law.'"
Ontario KI Natives protest against mining sacred burial grounds
Thousands march as South Africans strike
Sacramento higher-ed protest leads to 72 arrests
China fears unrest at home more than foreign war

## Energy/resources ##
Labuan crippled by mid-day blackout (Malaysia)
"Labuan was crippled for more than an hour by an island-wide sudden blackout from about 11.30am onwards and power supplies resumed only after 1pm.
"Emergency services were affected, businesses ground to a halt, petrol stations, ATM machines and traffic lights were not working."
Obama Says Concerned About Global Oil Output
'Catastrophic' outages hit Mindanao (Philippines)
"MINDANAO'S power shortage has worsened a week after former senator Juan Miguel Zubiri warned the national government of 'catastrophic' daily blackouts."
Diesel operators feel price pinch (Canada)
Indonesia Plans to Raise Fuel, Electricity Prices
"Even with the price increases, the government's fuel-subsidy bill will likely reach 137.38 trillion rupiah (about $15 billion) this year—11% more than originally budgeted and equal to about 14% of tax revenue, according to the budget revision. The electricity-subsidy bill will likely hit 93.05 trillion rupiah, more than double the amount originally budgeted, partly due to a delay in completing the country's first floating storage and regasification unit, and higher coal prices."
Analyst: Libyan oil predictions overblown
"Despite post-war optimism about the Libyan oil sector, an analyst at a major energy summit in Houston said there was too much hope in the forecasts."
Coal contango spurs stockpiling -traders, utilities
Gas pumps near empty in Sao Paulo due to truckers strike
Energy Authority: Still waiting for the Egyptian fuel
"The director of information office in the Palestinian energy authority Ahmed Abu Alamrien said that the Palestinian side is still waiting the release of diesel fuel quantities the Egyptian authority promised to provide the Gaza Strip with."
Commuter delays as power failure knocks out train services (Australia)

## Got food? ##
France To Restore GMO Maize Ban Within Days: Ministry
"France will reinstate a ban on the cultivation of Monsanto's MON810 maize (corn) in the next few days, in time to prevent the genetically modified grain being sown this year, an official at the farm ministry said on Tuesday."
India Considering Corporate Farming
Big mistake. -- RF
Spike in Food Prices Projected by 2013

## Environment/health ##
Solar storm headed toward Earth may disrupt power
"The largest solar storm in five years is racing toward Earth, threatening to unleash a torrent of charged particles that could disrupt power grids, GPS and airplane flights."
Mystery disease devastates northern Uganda
Troubled waters: Mining firms dump toxic waste into oceans, rivers and lakes
"Each year, mining companies dump more than 180 million tonnes of hazardous mine waste into rivers, lakes, and oceans worldwide, threatening vital bodies of water with toxic heavy metals and other chemicals poisonous to humans and wildlife, according to report released today by Earthworks and MiningWatch Canada, two leading mining reform groups."
Sandf fuel shortage may affect army operations (South Africa)
"A countrywide fuel shortage at SA National Defence Force facilities could affect operational needs because it owes R26 million on its fuel bill, Beeld newspaper reported on Wednesday."

## Intelligence/security/internet/systemic breakdown ##
Cybertheft increasing
"The number and types of companies targeted for intellectual property theft are rising rapidly and broadening, a U.S. report states."
Anonymous Rocked by News That Top Hacker Snitched to Feds
"While these arrests are devastating for the mediagenic hacking wing of Anonymous, other parts of the collective that more involved in traditional activism remain largely untouched. Anonymous activity against SOPA and other legislation in the USA, like the recent HR 347, and ACTA in Europe, are gaining steam. And the freedom ops involved with supporting protesters in the Middle East continue unphased."
Vatican becomes latest Anonymous hacking victim
Hackers attack Panda Labs site after Anonymous arrests
Things often overlooked by preppers

## Japan ##
Japan Nuclear Mobsters Don't Share Pain
"Who's going to jail?"
One year after disaster at Fukushima nuclear plant, town remains frozen in time
"Last year, Japan's disaster at the Fukushima nuclear power plant contaminated the land around it so badly that the area was effectively a write-off. It's been excised from terra cognita, uninhabitable, unwanted. Today the radiation-infected area is known by a name Ray Bradbury would like: 'the exclusion zone.'"
Contaminated water may still be leaking into Pacific
"A group of researchers has reported that radiation-contaminated water could still be leaking into the sea from the Fukushima No. 1 power plant."
Evacuees from March 11 disasters losing hope of going home
JP Gov distributes money for the local governments to accept radioactive debris

## China ##
Beijing again hikes jet fuel cost
"The Chinese government has raised domestic jet fuel prices to CNY7,725 ($1,222) per ton, up 3.48% from CNY7,465 per ton as the cost of international oil continues to climb."
China Moves To Further Marginalize Dollar: Offers CNY-Denominated BRIC Loans
China gambles on Cambodia's shrinking forests
China copper demand weakening as Shanghai stockpiles climb near 10 year highs

## UK ##
Refinery is £1.5billion in debt
"CORYTON oil refinery is £1.5billion in debt and may close if a new finance deal cannot be reached."
UK nuclear sites at risk of flooding, report shows
"Rising sea levels because of climate change put 12 of 19 sites at risk, unpublished government analysis shows"

## US ##
Gas price rise streak ends at 39 days, but diesel still climbing
California Nuclear Backlash Mounts After Japan Meltdown: Energy
35 Shocking Statistics That Prove That Things Have Gotten Worse In America
Attorney General Holder degrades US to fascist 'Assassination Nation;' 99% response…?
Paychecks for young adults getting slimmer
"Wages for young workers have been declining for more than a decade. They fell off a cliff during the Great Recession to levels not seen since the 1970s for certain groups of entry-level workers, according to new data from center-left think tank the Economic Policy Institute."
Consumer Credit Surges 8.6%, Mostly on Student Debt
LPS Home Price Index Shows U.S. Home Prices Accelerated Decline; Psychology Change and Demographics Suggests Bubble Mentality Shattered for Decades to Come (Mish)
"U.S. home prices declines to a new low for the move and are back to a level last seen in September-October 2002 according to a LPS News Release."
Wells Fargo to charge $7 fee on more checking accounts
Price of Drugs for the Elderly Soars

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