Thursday, April 19, 2012


News Links, April 20, 2012

## Global Ponzi meltdown/House of Cards ##
IMF chief says has around $316 bln in funding pledges
There isn't enough money in the world to stop the financial crisis. Keep reading. -- RF
Lagarde: IMF loan for Egypt won't be enough
"Egypt's request for a $3.2 billion IMF loan will not be enough to meet the country's financial needs and will require additional resources from donor countries, the head of the International Monetary Fund said on Wednesday."
Europe's Rescue Plan Falters
"Europe's bold program to defuse its financial crisis by injecting cash into the banking system is running out of steam.
"The European Central Bank's roughly €1 trillion ($1.31 trillion) of emergency loans caused interest rates of troubled euro-zone countries to plummet earlier this year, easing fears about Europe's debt crisis. But lately rates have again been marching higher.
"One big reason: After months of using that cash to buy their government's debt, banks in Spain and Italy have little left, say analysts and other experts."
India's Trade Gap at Record High
Nigel Farage: There Are Going to Be Serious Banking Collapses
Capitalism is dead, credit new king, says Duncan
"The world needs to clue in to changes to its economic system, including the death of capitalism, according to noted financial author Richard Duncan, who warns that attempts to turn back the clock on our credit-driven economies could be cataclysmic."
"Credit" has always been king because the infinite-growth economy depends on steadily expanding debt to generate growth. -- RF

## Airline Death Spiral ##
Tarmac protests show problems in China's aviation industry
American Airlines loses another $1.7 billion
"The parent of American Airlines, which went into bankruptcy last year, announced a quarterly net loss of $1.7 billion on Thursday, slammed by reorganization costs and rising fuel prices.
"The loss was more than quadruple the carrier's loss from a year earlier, when AMR Corp. reported a net loss of $405 million in the first quarter of 2011."
Air India Restructures, Hopes To Remain Airborne
"All eyes in India are focused skyward, as the government steps in to keep state-owned national carrier Air India flying. The company has begun restructuring its debt in what is the country's largest ever liability management exercise."
Airlines: 4 Ways Regionals Are Even Worse Off
"When the majors feel a chill, regional airlines get pneumonia"
High fuel prices take toll on Southwest profits
Alaska Airlines 1Q profit tumbles on fuel costs

## Fault lines/flashpoints/powder kegs/military/war drums ##
India tests long-range missile; capable of reaching China
Bashir says Sudan to teach South "final lesson by force"
"Sudan's President Omar Hassan al-Bashir all but declared war against his newly independent neighbour on Thursday, vowing to teach South Sudan a 'final lesson by force' after it occupied a disputed oil field."
NATO head calls on China, Russia to help fund Afghan forces
Panetta: US 'Within an Inch of War Almost Every Day'
Iraq Carnage: 69 Killed, 176 Wounded
"Iraq suffered significant bomb attacks in multiple cities today, leaving at least 69 dead and 176 more wounded. The multiple large-scale attacks were apparently coordinated, took place mostly during a 75-minute span, and focused on security personnel. In stark contrast, recent violence has largely resulted in only one or two deaths at a time."

## Global unrest/mob rule/angry people/torches and pitchforks ##
Sir Tim Berners-Lee: 'Take to streets' over web plans
"World wide web founder Sir Tim Berners-Lee has said it will be necessary to protest 'in the streets' against plans to increase internet monitoring."
Spain May See Civil Unrest Due to Austerity (Bloomberg video)
Egypt demonstrators block main Cairo bridge over Nile river

## Energy/resources ##
Diesel shortage hits industries in Sunsari-Morang belt (Nepal)
"• Production down by 70 per cent • Factories forced to buy fuel in black market"
Exxon's New Russian Oil Finds Not For Sale Til Maybe 2018
Mangalore Refinery shut down due to water shortage (India)
Dozens of stations running out of gas (US)
"Getty and BP stations have been the stations most commonly affected in the shortage, which is impacting more than 300 stations in New England alone."
Rig shortage delays oil drilling in East Africa
"A worldwide rig shortage is delaying oil drilling in east Africa, which is slowing growth and pushing up costs in one of the industry's hottest new exploration areas."
Skills shortage in Brazil's oil industry
Power supply situation worsens (Bangladesh)
"The power supply situation has reached its worst in the recent days as overall demand has gone up while generation decreased significantly, reports UNB."
Power outage paralyses business at EPZ factories (Kenya)
"BUSINESS at the country's largest AGOA garment exporter in Athi River came to standstill yesterday after a major two-day power blackout hit the area. The more than 20 garment exporters were yesterday grappling on what action to take after Kenya Power and Lighting Company failed to explain the anomally in both Athi River and Kitengela."
Mindanao-like power crisis in Luzon feared (Philippines)

## Got food? ##
Farm Group Seeks U.S. Halt On "Dangerous" Crop Chemicals
World's Largest Rooftop Farm Coming to Brooklyn
There's not enough information here to know whether this is viable in a post-industrial society. Conventional outdoor farming in soil is probably a better bet. -- RF

## Environment/health ##
2 Years After the BP Oil Spill, Is the Gulf Ecosystem Collapsing?
Matt Simmons said that there isn't enough money in the world to repair the damage. Some people said he was exaggerating. R.I.P. Matt. -- RF
Blamed for Bee Collapse, Monsanto Buys Leading Bee Research Firm
China's Three Gorges Dam prompts more evacuations
"Around 20,000 residents from the vicinity of China's massive Three Gorges Dam are being relocated because their homes are at risk from 'constant landslides.'"

## Intelligence/security/internet/systemic breakdown ##
The Impending Cybersecurity Power Grab – It's not just for the United States
Chinese Espionage Targets U.S. Space Tech
"China is stealing U.S. military and civilian space technology in an effort to disrupt U.S. access to intelligence, navigation and communications satellites, according to a report from the State and Defense Departments."
Spectrum Squeeze: Is Your Cell Phone Bill About to Skyrocket?
"Bandwidth on wireless networks is increasingly strained. Not only is the number of mobile data users rising, but so too is the number of devices they're using."

## Japan ##
Trade deficit hits record 4.41 trillion yen / Weak exports, LNG imports surge in FY11
Prime minister appoints new TEPCO chairman
Poverty a growing problem for women
Burying All Spent Fuel Poses Higher Costs: Nuclear Panel
Japan's population falls 259,000 in 2011
A natural population decrease is great news. -- RF
TEPCO fails to locate leak in Fukushima plant's No. 2 reactor

## China ##
Popping The Bubble: China Home Values Falling
Decline accelerates kindling fears of hell let lose in China
The English is a bit hard to read, but it's a candid view of the Chinese economy through the window of the steel industry. -- RF
China set to launch Crude oil futures trading

## UK ##
"Coldest May in 100 years", forecasters predict
"Britain could be facing the coldest May for 100 years, with snow, bitter winds and freezing temperatures putting summer on hold."
New fuel crisis in the pipeline as tanker drivers reject deal
Inflation-wary Bank of England set to halt money-printing press

## US ##
Big Government on Steroids: Senate Bill Calls for Black Box Recorders on All New Cars
The American who quit money to live in a cave (BBC video)
Unemployment-aid requests at 4-month high
Housing recovery still sputters
Car Exhaustion: Young America's Love of Driving Has Cooled
"It's not just happening in the U.S., either: A study found that seven developed countries including Canada, Japan, and others in Western Europe have also experienced a decline in the percentage of young people seeking driver's licenses."

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