Wednesday, April 25, 2012


News Links, April 25, 2012

## Global Ponzi meltdown/House of Cards ##
More grief for Greece as recession seen deeper
"Greece's economy will contract a deeper than expected 5 percent this year, the country's central bank chief said on Tuesday, piling more pressure on to a citizenry already battered by crippling austerity and record joblessness."
U.S. Lost AAA on Danger of Liquidity Crisis, S&P's Kraemer Says
"The U.S. lost its top credit grade in August because of the imminent danger of a "real liquidity crisis," and Standard & Poor's made no errors in its analysis, said Moritz Kraemer, managing director of sovereign ratings."
Billions wiped off Europe's biggest companies as political rebellion rocks eurozone
"More than £122.3bn was wiped off the value of Europe's biggest companies on Monday amid fears that the eurozone's commitment to austerity was being swept away by political rebellion - just as its debts hit record levels."
Risk of Sharp Euro Fall Increasing: Citi

## Airline Death Spiral ##
Focus On Airlines: Coffee, Tea Or Bankruptcy?
Analysts see 1Q loss for Delta Air Lines
Should we worry about cities abandoned by airlines? (US)
China Eastern, Cathay downgrade 1Q profit forecast

## Fault lines/flashpoints/powder kegs/military/war drums ##
Egypt's new politics make Israel ties a target
Indian shipping firms to carry Iran crude despite reduced insurance
"Indian shipping firms will continue to transport Iranian crude even if limited insurance coverage due to tightening Western sanctions leaves them financially exposed to a spill or accident, a top executive and industry sources said."
Iran: Oil-for-food
Obama announces new sanctions on Syria and Iran
"President Barack Obama took aim Monday at Syria and Iran, imposing new sanctions on the two regimes as well as the 'digital guns for hire' that develop technology enabling the two governments to monitor, track and harass their own people."
Oh, the irony. -- RF
Philippine finds gas in South China Sea, may fuel China tensions
"A Philippine exploration firm has found more-than-expected natural gas in a disputed area of the South China Sea, a discovery likely to inflame territorial tensions with China."
Egypt's Sinai turning into "Wild West": Israeli PM
"Egypt's Sinai Peninsula has turned into a 'kind of Wild West' exploited by Islamist militants with Iranian help to smuggle in weapons and stage attacks on Israel, Prime Minister Benjamin Netanyahu said on Tuesday."

## Global unrest/mob rule/angry people/torches and pitchforks ##
Security forces seize land from Vietnam villagers
"Thousands of riot police overwhelmed villagers in Vietnam who tried to block them from taking control of a disputed plot of land outside Hanoi on Tuesday in the second high-profile clash over property so far this year."
Occupy Protesters Take Over Tract Of Farmland On Berkeley-Albany Border
"About 40 activists who are part of a group calling itself "Occupy the Farm" are planting 15,000 seedlings on a 10-acre plot of land in Albany that is owned by the University of California at Berkeley, a spokesman for the group said Monday."
33 Arrested Outside Drone Base in New York State
"Thirty-three activists were arrested Sunday afternoon outside Hancock Air Field base in New York. Nore than 150 had turned out to protest the use of US drones to attack countries including Afghanistan, Pakistan, Yemen and Iraq. The activists were preemptively arrested two blocks from the base."

## Energy/resources ##
Bangladesh faces water problems
"Dhaka, the capital city of Bangladesh faces severe water shortages, particularly during the annual March to May dry season."
"Perhaps, just perhaps, the message is starting to get through: the era of cheap food in abundance is over. Figures released last week by the Office for National Statistics (ONS) revealed that food prices went up by 4.6 per cent between March 2011 and March 2012, adding to a 5.2 per cent rise the previous year."

"Elephant and rhino poaching is surging, conservationists say, an illegal piece of Asia's scramble for African resources, driven by the growing purchasing power of the region's newly affluent classes."

## Intelligence/security/internet/systemic breakdown ##
New Pentagon Spy Agency To Focus on Iran, China
"The Pentagon is creating a new intelligence agency that will focus on Iran and China as it begins to pivot away from war zones in Iraq and Afghanistan, the New York Times reported."

## Japan ##
Projection: No return to 7 areas near Fukushima plant for 5 years
"Bereft of decontamination work, residents will be unable to return home for at least five years in seven municipalities around the crippled Fukushima No. 1 nuclear plant, according to the government's radiation projection charts."
Land water flooding reactors to be diverted
"Groundwater is seeping into the damaged reactor buildings at the crippled Fukushima No. 1 nuclear plant, and Tokyo Electric Power Co. plans to build about a dozen wells to redirect and halve the flow."

## UK ##
Bus and rail fares may rise again as Translink faces huge loss
Britain must find £900m in additional EU payments
"Britain will be told that it must find almost £900 million in additional payments for Brussels or else be forced to pay up by the EU's Court of Justice as the European Commission publishes its 2013 budget demand on Wednesday"

## US ##
"Fears that a shortage of a nylon resin used in auto manufacturing will cut deeply into production worldwide are easing some, but there is still a danger that output may be curtailed, according to an industry executive."

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