Wednesday, April 11, 2012


News Links, April 11, 2012, evening edition

## Global Ponzi meltdown/House of Cards ##
European stock markets rocked by panic selling as debt crisis reignites
Spain Is on the Bleeding Edge of a New European Crisis
IMF working with Egypt on backing for loans
Loans that could never be repaid. How's that a solution? -- RF
Glut of cargo ships yields an ocean of valuable scrap
"The downturn in shipping is hitting the industry so hard that some of the world's biggest vessels are now worth little more than their scrap value, new figures show.
"Shipyards have been turning out new vessels at a pace designed to serve global demand that has simply failed to materialize, meaning the industry is now sinking under massive overcapacity."
Triple-Crisis on the Near Horizon

## Airline Death Spiral ##
Tampa International Airport rethinks expansion as passenger numbers shrink
Delhi International Airport Ltd warns of closure unless charges go up
American Airlines deal a bust, for now; Arcata/Eureka service might start spring 2013

## Fault lines/flashpoints/powder kegs/military/war drums ##
S. Sudan says it repulsed attack by Sudan in oil area
Philippine warship 'in stand-off' with Chinese vessels
"The Philippines says its main naval vessel is engaged in a stand-off with Chinese surveillance ships at a disputed South China Sea shoal.
"The Philippines said its warship tried to arrest Chinese fishermen anchored at the Scarborough Shoal, but was blocked by the two surveillance boats."
Iran exports petrochemicals to 60 countries

## Global unrest/mob rule/angry people/torches and pitchforks ##
Thousands clash with police in Chongqing (China)
"Thousands of enraged protestors were involved in a bloody clash with police in Chongqing on Tuesday night, with rumors spreading that some have been killed and that the People's Liberation Army has been deployed to suppress the riots."
Israel preparing to block hundreds of protesters expected at airport
"Israel vowed Tuesday to prevent the entry of hundreds of pro-Palestinian activists from Europe and North America expected to arrive in the country this weekend, calling them provocateurs who are intent on disturbing public order."

## Energy/resources ##
"Spain is badly hit because we used to import a lot of Iranian oil."
Shenzhen suffers two-hour blackout
"Shenzhen in South China's Guangdong province experienced a widespread two-hour power blackout on Tuesday evening caused by a transformer station failure."
Smugglers selling cheap Saudi fuel in UAE
"Since the United Arab Emirates (UAE) phased out subsidies and raised fuel prices two years ago, smugglers have been making a killing by selling cheap Saudi diesel and gasoline in that country, a local Arabic daily newspaper reported on Tuesday."
Namibia: Soaring Fuel Prices Rattle Fishing Industry
"Soaring fuel price hikes, along with projections of additional increases, have rattled many fishing companies, given that fuel expenses constitute their lar­gest single operational expense item."
Transformers blacked out as summer adds to power load (India)
"Soaring mercury levels are making us sweat that much more this summer, thanks to widespread transformer failures across the city."

## Infrastructure scavenging ##
Copper thieves cut off Sweden's main rail line
"Rail traffic connecting Stockholm, Malmö, and Copenhagen was brought to a standstill on Tuesday after thieves severed the high-voltage overhead lines in order to steal the valuable copper wire inside."
Metal Thieves Swiping Half-Ton Air Conditioner Units
Wire thieves hit Sacramento street lights
"The Sacramento City Council ponied up another $2 million Tuesday night to replace copper wiring stolen from the city's street lights."

## Got food? ##
Time For A 'Bug Mac'? The Dutch Aim To Make Insects More Palatable

## Environment/health ##
Chevron Finds Leak In Offshore Petrobras Oil Field
Massive Mongolian mine raises environmental fears

## Japan ##

## China ##
Beijing venues crumbling under high costs
Gloomy solar industry leads to more layoffs in China

## US ##
America's crumbling infrastructure
"The American Society of Civil Engineers, in its well-known Report Card for America's Infrastructure, gives the U.S. an overall grade of D and says there is a $2.2 trillion deficit -- the amount of money it would take in five years to bring the country's public works up to acceptable levels. Much of this estimate is for simple maintenance."
Markets close with sharp losses

"A study by sociologists has revealed a sharp decline in the performance ability of Britain's lap dancers since the financial crash of 2008."
What's this world coming to? -- RF

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