Monday, April 16, 2012


News Links, April 17, 2012

## Global Ponzi meltdown/House of Cards ##
Spain, Italy slide further into euro zone crisis
EURO GOVT-Spanish yields top 6 pct as debt crisis flares
Madrid threatens to intervene in regions
"Madrid has threatened to seize budgetary control of wayward Spanish regions as early as May if they flout deficit limits, officials said – as investors took fright at the fragility of some eurozone economies."
EU trade gap at $12.2 billion in February
Bank of Korea Trims 2012 GDP Growth Forecast
OSK: Overcapacity still an issue: There are too many ships heading for the long-haul trades
"Overcapacity in the container shipping industry will not be absorbed quickly unless the global economy rebounds strongly in the next two years."
Applied Materials CEO: Solar Overcapacity To Last About Year
Dubai office vacancy rates to top 40%
Nokia Nearly Junk

## Airline Death Spiral ##
Shandong Airlines forecasts up to 67% decline in 1Q2012 net profit (China)
China Southern predicts sharp 1Q profit decline
China Eastern forecasts a more than 50% decline in 1Q2012 net profit
Why airline business in Nigeria is unprofitable, by operators

## Fault lines/flashpoints/powder kegs/military/war drums ##
Despite Obama charm, Americas summit boosts U.S. isolation
Just one more indication that the world is now multipolar, and the "lone superpower" is turning into just another country — and perhaps even evolving into a backwater. -- RF
Israeli Pilot: 'We Are Prepared For Iran If Given The Order'
Already, U.S. and Israel's Netanyahu are at odds over progress at Iran nuke talks
US and Philippines begin South China Sea drills
Kabul fighting ends with explosions, heavy gunfire
"Heavy street fighting between militants and security forces in the centre of the Afghan capital, Kabul, ended on Monday after 18 hours of gunfire, rocket attacks and explosions, police and government officials said."
The Rise of the Killer Drones: How America Goes to War in Secret

## Global unrest/mob rule/angry people/torches and pitchforks ##
21 injured in SW China village clash
Filipino protesters throw paint at main gate of US Embassy to demand end of military drills
Occupy Protesters Arrested for Camping Out on Wall Street

## Energy/resources ##
IEA watching MENA investments
"The IEA said it was investigating implications of a potential investment shortfall in upstream activity in the Middle East and North African energy sector.
"The International Energy Agency said much of the world's remaining oil and natural gas reserves are in Middle East and North African countries."
Since the world is losing, at a minimum, 4% of production per year, heavy upstream investment is needed just to keep running in place. -- RF
Iraq boosts power supply with electricity from UAE
But parts of the UAE are likewise short of power in the summer. -- RF
India iron ore exports tanks 48% since 2009, set to fall further
Sponge-iron makers fear further cut in coal supplies (India)
CAP's plan to expand mines may be delayed by energy shortage
The Myth that the US will Soon Become an Oil Exporter
ERCOT Expects Tight Reserves (Texas)
"With summer just around the corner, state officials are voicing concern about power-generation capacity."

## Infrastructure scavenging ##
Thief blamed for Fontana power blackout

## Got food? ##
Farmer switches to horse to beat fuel prices
Farmers must spend more on herbicides as effectiveness fades

## Environment/health ##
Warm weather gives ski season a cold shoulder
"The nation's ski resorts had one of their worst seasons for attendance in over a decade — and there's no relief in sight."

## Intelligence/security/internet/systemic breakdown ##
Man plotted suicide bomb on NYC subway: prosecutor

## Japan ##
Japanese automakers take measure not to get affected by TEPCO rate hike
Japan's power output dropped by largest rate in FY 2011 after disaster
Japan may fall from leading countries / Study suggests nation may become insignificant without strong economic reforms
Tokyo to give Osaka tips on saving electricity

## China ##
Insight: "Made in Japan" engineers find second life in China
"People aren't making products in Japan anymore."
China is not only buying up Japan, but also scooping up its experienced engineers. -- RF
Auto industry overcapacity just temporary: insider
China's widening Crude Oil supply-demand gap to support prices: BofAML
Beijing property fair suggests further price drops on the way
Implicit public debts suggest China's finances are not so rosy

## UK ##
Drought may last until Christmas: Environment Agency

## US ##
Executive Order -- Supporting Safe and Responsible Development of Unconventional Domestic Natural Gas Resources (White House)
Economy Now Facing the Biggest Bubble Since Housing? (Healthcare)
Push to Promote Cost-Conscious Medical Care Spotlights Wasteful Treatments
"Injudicious use of medical resources that do not benefit patients account for nearly one third of health care spending in the United States, according to Congressional estimates."
Defense Department to Donate Hundreds of Surplus Robots to Law Enforcement
Police Reportedly Pepper Stray Junior High School Students For Failing To Move To Class Fast Enough After Lunch
New York manufacturing throttles back
Sierra Club's Electric Cars: Is It Time for More Technology or Culture Change?

And finally…
Rich Chinese Helping To Fuel Shortage Of European Butlers, SCMP Says
Mind-controlled cat ears hitting shelves in Japan
We should require all politicians to wear these in public. -- RF

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