Tuesday, April 10, 2012


News Links, April 11, 2012

## Global Ponzi meltdown/House of Cards ##
Greece offers "cop-for-hire" service to raise cash
"In a bid to raise cash, Greek police are offering a 30 euro ($39) per hour 'cop-for-hire' scheme for private companies or citizens seeking protection at special events."
Spanish 10-Year Bond Yield Hits 5.99% as Official Denials in Spain Escalate; "Bailout" on the Way
Italy, Spain stocks tumble as bond yields rise
France grapples with 'deindustrialisation'
And France isn't the only country which has trouble maintaining its industrial base. -- RF
Brazilian steel exports in March dip by 26pct MoM
TSX racks up losses again
Stocks Hammered by European, Economic Woes; Dow Slides for Fifth Day
Aluminium buckles under weight of supply pressure
Bankrupt Saab Left $2 Billion in Debts
World Container Index shows second large hike in Asia to Europe box rates in two months
"Shanghai to Rotterdam container freight rate assessment from the World Container Index, a JV between Drewry and The Cleartrade Exchange, shows that container freight rates in the westbound Asia-Europe corridor increased by 28% this week, adding upwards pricing pressure on shippers only one month after the previous large rate increases."
Vinashin may issue bonds to pay off its massive debts
"It is reported that Vietnam Shipbuilding Industry Group or Vinashin may issue bonds under the Vietnamese government's guarantee to pay off part of its massive debt."

## Airline Death Spiral ##
United Airlines ends Oakland service, Denver route
Weighed down by losses, GMR airports bank on cash-and-carry (India)
Kingfisher's last call on all of its overseas flights
"KINGFISHER Airlines made its last international flights yesterday as it closed overseas operations amid ballooning debts."
Iberia pilots strike, 150 flights cancelled
South Africa's Low-Cost Carriers Face Bumpy Ride
"South Africa's low-cost carriers have fallen into disarray as rising fuel costs and overcapacity take their toll on a domestic industry now hit by a spate of airline management resignations."
Market forces are at play at regional airports
"Some days, the terminals at L.A./ Ontario International Airport can be as quiet as a ghost town."

## Fault lines/flashpoints/powder kegs/military/war drums ##
India to restart direct shipment of basmati rice to Iran
"India may restart direct shipments of basmati rice to Iran with the new payment mechanism allowing the Iranian traders to make payment in Indian rupee. Iran is the largest importer of Indian basmati rice."
Iran to cut oil to more European refineries
"Iranian Oil Minister Rostam Qasemi said Tuesday that the Islamic republic will cut its oil sales to more European refineries in the following days, the semi-official Mehr news agency reported."
Iran ends oil ties with Greece
"Iran, as of Tuesday, is no longer making crude oil deliveries to Greece because of issues over payment, the Iranian oil minister declared."
US Navy's Fifth Fleet says Gulf deployment 'routine'
Exclusive: China's ZTE planned U.S. computer sale to Iran
"China's ZTE Corp, which recently sold Iran's largest telecommunications firm a powerful surveillance system, later agreed to ship to Iran millions of dollars worth of embargoed U.S. computer equipment, documents show."
Sudan accuses South Sudan of attacking oil field
Israel mulls missile defense for gas rigs
"Israel may base the David's Sling counter-missile system on offshore gas installations in case of attack with anti-ship missiles or explosive-laden boats."
Israel Afraid of Iraq's US-Provided Warplanes
Cameron agrees joint defense deal with Japan
"Britain and Japan said on Tuesday they have agreed to jointly develop and build defense equipment, the first time since World War Two that Japan has concluded a weapons-building deal with a country other than the United States."

## Global unrest/mob rule/angry people/torches and pitchforks ##
Occupy Wall Street plans to 'take down' Bank of America
Occupy groups focusing protest on foreclosures
Transporters' strike today against fuel price hike (Pakistan)
Warning shots fired at factory lockout
"Police fired warning shots to disperse locked out workers at the Phatthana Seafood Co. in Thailand's Songkhla province, but none were injured, witnesses said."

## Energy/resources ##
Production from Abqaiq, an Ageing Queen (The Oil Drum)
Long and technical, but in sum, even the biggest oil fields run down. -- RF
U.S. Coal Exports Soar To 1991 Heights
Mindanao power shortage 'remains grim'

## Got food? ##
Uganda: Food Prices Continue to Skyrocket
Hydroponics bring low-cost solution to high food prices
Make sure such systems need no artificial lighting, and that there is a ready source of nutrients. Any system requiring electricity or fossil fuel heat is doomed. -- RF
Brazil Soybean Forecast Cut to 65.6 Million Tons
"Soybean growers in Brazil, the world's second-largest producer, will harvest less than previously forecast after dry weather damaged crops in the country's south, the government said."
Supply Outlook Rattles Soybeans
U.S. Exporters Sell 165,000 Metric Tons of Soybeans to China
Spring Greens and Other Things from the Early Vegetable Garden

## Environment/health ##
Radioactive particles from Japan detected in California kelp
Japan is Poisoning Other Countries By Burning Highly-Radioactive Debris
White-nose syndrome in bats continues to spread

## Intelligence/security/internet/systemic breakdown ##
LAPD dispatch troubles alarm officials in wake of 12-hour communications blackout
Mystery outage plagues Boston TV stations
Why Canada is at risk of chronic drug shortages
A New Microchip Knows Just Where You Are, Indoors and Out (MIT Technology Review)
"Broadcom has just rolled out a chip for smart phones that promises to indicate location ultra-precisely, possibly within a few centimeters, vertically and horizontally, indoors and out."

## Japan ##
Sony sees record $6.4 billion net loss, to take tax hit
Sony, Sharp warn of massive losses
"Sony and Sharp, two of Japan's best-known electronics giants, on Tuesday warned of record losses in the hundreds of billions of yen as they struggle to survive amid fierce global competition."
Oi reactors secure from blackout-induced meltdowns, Edano says
No lessons learned here. -- RF
Decontamination needed even after residents return
"If decontamination work does not continue for a certain period in areas highly contaminated by radioactive substances from the Fukushima No. 1 nuclear power plant, returning residents will be exposed to at least 100 millisieverts of accumulated radiation over 30 years, the Science Council of Japan said Monday."

## China ##
Realtor bankruptcy in Hangzhou could be first of many

## US ##
How Student Debt Is Slowing the Recovery
"Americans now owe more than $1 trillion in student loans, which exceeds the total amount of credit card debt or loans for automobiles."
Virus attack plunges Commerce bureau into bureaucratic Dark Ages
"It's a good thing turnover is low at the federal Economic Development Administration, so there are people around who remember how to use things like fax machines, the Yellow Pages, and note pads now that the agency's been without Internet access for 80 days--a severe fallout from a virus that came in an email."
U.S. Job Creation Just Trying to Keep Up Wth Population Growth
Workers at third Tesoro refinery authorize strike
"Workers at Tesoro Corp's 58,000 barrel per day (bpd) Mandan, North Dakota, refinery joined workers at two other of the company's refineries by giving local union leaders authority to call a strike, the United Steelworkers union (USW) said on Thursday."
Refinery closures risk Northeast gas price spike
"While gas prices soar to record levels, many U.S. refineries that make and sell gasoline are going broke."
Diesel Back on the Rise, Oil at Seven-week Low
Feds predict diesel will average $4.24 this summer
Census: Growth of distant suburbs falls to historic low
"Construction of gleaming schools and mega-malls built in anticipation of a continued population boom is cutting back. Spacious McMansions offering the promise of homeownership to middle-class families sit abandoned or half-built. Once an escape from urban problems, suburban regions hit by foreclosures are posting bigger jumps in poverty than cities."
Earnings season begins with ominous signs for stocks

And finally… Check Out This Awesome Rube Goldberg Machine

<< Home

This page is powered by Blogger. Isn't yours?