Wednesday, April 18, 2012


News Links, April 19, 2011

## Global Ponzi meltdown/House of Cards ##
Spluttering economies to curtail earnings horizon
In Europe, construction spending drops
"Construction spending fell sharply in Europe in February, the European Union's statistical office Eurostat said Wednesday."
Greek Overhauls Win EU Plaudits
"Greece shouldn't need more money if it sticks to its ambitious program of economic overhauls, the European Commission says in the draft of a report on the deeply indebted country."
Yes, we're rioting, bartering, returning to the land, and generally getting on just fine. -- RF
Spanish Banks' Bad Debt Hits High
"Bad debts held by Spanish banks rose to a fresh 17-year high in February, topping 8% for the first time since October 1994, as companies and households fell further behind on debt payments amid a deepening housing and economic slump."
EU passenger cars registrations down by 7.7pct in Q1 2012
"In March 2012, demand for new cars in the EU was negative for the sixth consecutive month, with a decline of 7.0% compared to March 2011."
IMF Chief Jackass Calls for Taxpayer-Funded Bank Recapitalisations to Avoid Painful Deleveraging; Mish Says Fire the Parasites and Disband the IMF
You gotta love Mish's outspokenness. -- RF
Oil industry woes weigh down Canadian economy
Vietnamese suspended company operations rose by 6pct in Q1 2012
Brazil cuts key rate to 9%, meeting expectations

## Airline Death Spiral ##
AMR Cuts 1,200 More Jobs in $1.25 Billion Labor-Savings Plan
"American Airlines will cut 1,200 airport baggage and cargo jobs and close an Arizona reservations center under a bankruptcy restructuring plan to trim annual labor spending by $1.25 billion."
SAS sees more airline consolidation on the horizon
"A global economic slowdown and sky-high jet fuel prices will push the airline industry into a new wave of consolidation, the top executive of Scandinavian airline SAS (SAS.ST), itself a long-rumoured takeover target, said on Tuesday."
Global airport security costs to hit $45 billion in 2018
Air India Plans to Raise $500 Million in Loan
Q1 Preview: Southwest Air Loss Seen On Fuel Costs

## Fault lines/flashpoints/powder kegs/military/war drums ##
India to test fire long-range missile
"India is due to test fire a long-range inter-continental ballistic missile capable of carrying nuclear warheads."
Bolivia poised to de-flag Iranian ships
Sudan war mirrors region's oil conflicts
"The brewing war between Sudan and South Sudan is a battle for oil and there are other such potential conflicts in the Middle East and Africa."
7 NATO Countries To Join U.S. in Schriever Wargame
China rejects Manila claims over South China shoal

## Global unrest/mob rule/angry people/torches and pitchforks ##
Hainan county moves power plant dispute down the road (China)
Water, power woes force people to take to the streets (Pakistan)
"The exasperated youth pelted vehicles on Korangi Road and the Qayyumabad Roundabout with stones, which resulted in a severe traffic jam in the adjoining arteries. They chanted slogans against the KWSB and the KESC, burnt tyres, damaged electricity poles, sign boards and broke street lights in the area."

## Energy/resources ##
Is Natural Gas Too Cheap to Drill?
"Essentially, gas is so cheap that it's no longer profitable to drill."
Gas isn't necessarily cheap; it's being sold below cost. -- RF
6 Scary Extreme Energy Sources Being Tapped to Fuel the Post Peak Oil Economy
Energy costs, jet fuel drop combine to close refinery
"Decreased jet fuel sales in Anchorage were a secondary factor into the decision to shut down a crude oil refining unit at the North Pole Refinery, which will cost 35 to 40 jobs, according to a spokesman for refinery owner Flint Hills Resources."
IOC says failure to hike petrol prices could lead to shortage of fuel (India)
India Petrol may get costlier by Rs 10/litre
Tamil Nadu suffers from acute power crisis (India)
"Acute power crisis is threatening to cripple Tamil Nadu's leather exports. Hundreds of companies in Tamil Nadu's leather belt have been hit by power shortages, leading to as much as a 25 per cent increase in production costs."
Net cafés, salons close shop in NorCot due to long rotating blackouts (Philippines)
"A number of establishments, most of them power-dependent, closed shop after the local electric cooperative announced Wednesday the month-long rotating blackouts that would last from six to eight hours daily."
Solar shakeout spreads with most job cuts since Solyndra

## Got food? ##
One-in-5 children in Ireland hungry
"One-in-five children in Ireland reported going to school in the morning or to bed at night hungry in 2010, because there was not enough food at home."
Corn seed supply a concern in upper Midwest; some farmers might need to forgo first choice
India's food inflation based on CPI rose to 8.22% in March
3 Big Lies Food Companies Are Feeding You

## Environment/health ##
More on the Link Between Earthquakes and Fracking

## Intelligence/security/internet/systemic breakdown ##
Organizations Can't Be Sued For Torture, High Court Rules
"The U.S. Supreme Court has ruled unanimously that organizations cannot be sued for the torture under the Torture Victim Protection Act."

## Japan ##
Sony expects to trim EMI staff 60 percent
Japan cuts oil purchases from Iran by 77% in April
Japan has already found it necessary to tap Saudi storage in Okinawa. What next? -- RF
Tokyo stocks jump on speculation over additional monetary easing
"Tokyo stocks surged Wednesday, with the benchmark Nikkei index rising more than 2 percent, as remarks by a Bank of Japan deputy governor fueled expectations of additional monetary easing by the central bank."
Noda leaps in with hint of buying Senkakus
"The central government will consider buying the disputed Senkaku Islands, Prime Minister Yoshihiko Noda said Wednesday, adding fuel to a fire already lit by Tokyo Gov. Shintaro Ishihara."

## China ##
Experts: China should farm more abroad to feed growing demand
"China, the world's most populous country and biggest consumer of grain, should expand its farming overseas to ensure enough food for its people because of limited land and low productivity at home, agriculture experts said on April 18."

## UK ##
Britain at risk of gas and electricity 'squeeze' by 2015

## US ##
U.S. Postal Service closings make small businesses nervous
The long debt emergency has arrived
"From 1950 to 1980 total US credit market debt to GDP held a ratio of 1.5. Today that figure is above 3.5 with total US credit market debt at $54 trillion."
Chesapeake Energy shares sink to 3-year low
"Shares of Chesapeake Energy tumbled Wednesday after Reuters reported that the company's chief executive has been taking out personal loans to finance stakes in the company's wells, and using those same stakes as collateral for additional loans."
10 Disgusting Examples Of Very Young School Children Being Arrested, Handcuffed And Brutalized By Police

And finally… Pat Robertson: Global warming a hoax because no SUVs on Mars

<< Home

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