Wednesday, April 25, 2012


News Links, April 26, 2012

## Global Ponzi meltdown/House of Cards ##
EU officials to propose 6.8% budget increase for 2013
S&P Cuts India Outlook to Negative
German Shipping Funds Die as Investors See Losses Rise: Freight
S.Africa says BRICS bank to launch in 2013
Russia And Mexico Both Buy Nearly $1 Billion Worth Of Gold In March
Peugeot Quarterly Revenue Drops 7.3% on European Market
22 Red Flags That Indicate That Very Serious Doom Is Coming For Global Financial Markets
Shortage of skilled workers leaves 10 million jobs unfilled, report says
"About 10 million manufacturing jobs cannot be filled worldwide because of a shortage of skilled workers, according to a report released Tuesday by the World Economic Forum andDeloitte Touche Tohmatsu Ltd."
It takes a lot of cheap energy to train the many engineers and skilled workers who keep industrial civilization going. -- RF

## Airline Death Spiral ##
American cites bleak finances in bankruptcy court

## Fault lines/flashpoints/powder kegs/military/war drums ##
Philippine, U.S. stage war games as South China Sea tension simmers
"Thousands of American and Philippine troops waded ashore on Wednesday in a mock assault to retake a small island in the South China Sea as tensions bubbled over rival claims to disputed areas rich in oil and gas."
Sino-Russian drills enter live-fire stage
India to import Iran oil even without EU tanker insurance
Greek anger keeps German tourists away
"German tourists are in short supply in Greece these days, frightened away by reports of visceral anti-German sentiment in some places, fears of being stranded by strikes and television images of fiery anti-austerity riots."
Iran sends military to disputed Gulf islands

## Global unrest/mob rule/angry people/torches and pitchforks ##
GE annual meeting interrupted by 99 Percent protesters
Thousands of farmers rally in Tokyo against TPP trade pact

## Energy/resources ##
Power Industry Blackout Risk Alert on the Rise
"Even with new generation capacity plans, power industry executives expect blackout risks to rise in Europe and North America, as the industry confronts the challenge of energy affordability, efficiency, and energy security policies not meeting demands. There are also worries that the number of consumers in fuel poverty will rise significantly in the next 20 years."
Saudi Arabia may become a net importer of fuel oil this summer
Troubled Chesapeake Energy's financial savior - India?
"It is one of Wall Street's worst-kept secrets that Chesapeake Energy, America's second largest producer of natural gas, is short of cash, facing an estimated $9.2 billion gap between its capital expenditures and its cash flow, putting a gun to the head of CEO Aubrey McClendon to sell assets fast."
Fuel shortage hits parts of Accra (Ghana)
Power plants in India grappling with coal shortage
Power restored in Alliance after major blackout (US)
Jakarta Left in The Dark After Another Power Blackout
"Another power blackout hit a large part of the capital on Wednesday afternoon, leading to airport delays and traffic congestion."
Power Shortage Hurts Chile's $100 Billion Copper Push
Foreign firms vie for Libya oil industry revival
Saudi output pledge likely to ease prices
"Saudi assurances the kingdom can and will increase crude oil output to dampen prices is exactly what the market needs, a London think tank said."
It's more psychology than oil. -- RF
Oil worries grow over Iranian sanctions
"Saudi Arabia can provide only a small amount of relief in the energy sector once U.S. and European sanctions on Iran go into force in July, an analyst said."
U.S. eager to work with Mexico on oil
Lukoil starts work at Iraqi oil field
Egypt's gas cut may spur energy conflicts
"Egypt's decision to cut off natural gas supplies to Israel threatens the countries' historic 1979 peace treaty and could crank up simmering tensions over disputed offshore gas fields in the eastern Mediterranean."
Global Oil Estimate Down From Last Decade
The Cost of Hauling Fat
Refinery shutdown costs MRPL Rs 20 cr/day; diesel supplies may be hit (India)

## Got food? ##
Use One of These 4 Simple Garden Designs to Grow the 12 Best Kitchen Herbs
Global food prices on rise again - World Bank
Flex-Fuel Humans
"As an approximate rule-of-thumb, each kilocalorie ingested by Americans consumes 10 kilocalories of fossil fuel energy to plant, fertilize, harvest, transport, and prepare."

## Intelligence/security/internet/systemic breakdown ##
Survey Shows Uncertainty In Reporting Suspicious Activity
"At airports, train stations and other public places across the nation, the Department of Homeland Security's "See Something, Say Something" campaign has encouraged people to report suspicious activity in an effort to prevent terrorist attacks. But arecent government survey found citizens are not jumping in to report others."

## Japan ##
Utilities may not meet August power demand
KEPCO warns of 16.3% power shortage in nuclear-free summer
Japan may face power blackouts, minister says
Tsuruga nuclear plant may be sitting atop active geological fault
TEPCO business plan includes 10% rate hike, nationalization
"In a restructuring plan for embattled Tokyo Electric Power Co., the utility will raise household power rates by 10 percent from July and take a 1 trillion yen ($12.3 billion) injection from the government, which will effectively nationalize it."
Since TEPCO is already a ward of the state, nationalization is a fait accompli. -- RF

## China ##
Dismay engulfs Chinese steel market after summer downpour
China shows largest nuclear plant to reporters
Profits vanish at China's two wind turbine heavyweights
China offshores manufacturing to the U.S.

## UK ##
Half of over-50s 'will have to work beyond state pension age'
"Nearly half of people aged over 50 will have to work and save for 11 years beyond state pension age to keep their standard of living, a report has said."
Disposable income drops in Britain
Britain Plunges Into First Double-Dip Recession Since the 1970s
It's not a double-dip. It's the next leg down in Britain's economic collapse. -- RF
UK Back in Recession, Did it Really Ever Leave? Disappointing Details; Five Reasons the UK Recession Will Get Much Worse
Zurich Insurance to cut 342 jobs from its UK offices
HSBC Said to Plan 2,000 U.K. Job Cuts as Part of Global Cull

## US ##
Plunge in durable goods orders clouds U.S. outlook
Obama talks low loan rates in pitch to college students
It's a scam. A college education is no longer a guarantee of an illustrious and lucrative career, while debt expansion is desperately needed to prop up the Ponzi-scheme economy. -- RF
Colleges Confuse Students With Letters Offering Aid That's Debt
Struggling Philly district could close 40 schools
American Houses and the Oil Denominator
"If there's one asset the world has little use for, it's an American single family home priced above 250K, reachable only by car."
Another way to kill US farmers: Seize their bank accounts on phony charges
H&R Block to Cut 350 Jobs, Search for New Finance Chief
"H&R Block Inc. (HRB), the biggest U.S. tax preparer, plans to cut 350 jobs and close about 200 company- owned offices as part of a realignment."

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