Monday, April 02, 2012


News Links, April 3, 2012

## Global Ponzi meltdown/House of Cards ##
Euro zone unemployment reaches near 15-year high
"Unemployment in the euro zone reached its highest level in almost 15 years in February, with more than 17 million people out of work, and economists said they expected job office queues to grow even longer later this year."
Grim Data Cast Cloud Over Euro Zone
"Dire figures on unemployment and manufacturing activity in the euro zone's weakest members on Monday highlighted the scale of the currency bloc's economic problems, just days after finance ministers boosted their bailout fund in a bid to fend off the debt crisis."
BRICs Bank To Rival World Bank and IMF and Challenge Dollar Dominance
India and the Euro Zone – a complete mess
Drydocks World lenders brace for haircut (UAE)
Bank stampede keeps Spanish real estate on the ropes
Canada: Water Infrastructure Crumbling?
Just days after Harper's budget, the axe begins to fall (Canada)
Italian government alarmed at high consumer power prices
"Italian Prime Minister Mario Monti's government has reacted with concern at rising electricity and gas prices that are set to hit hard-pressed consumers already reeling from tough austerity measures and a sharp rise in the cost of living."
US$133bn worth of KSA projects on hold - report
Brazil: Real Estate Bubble?

## Airline Death Spiral ##
Pinnacle Airlines Seeks Chapter 11 Bankruptcy Protection
Flights cancelled, passengers groan as fuel scarcity hits aviation (Nigeria)
"IT was chaos and pain yesterday at virtually all the airports in the country as there were no aircraft to fly passengers following acute scarcity of aviation fuel."
Frontier Airlines says goodbye to the cookie
China Southern's 2011 profit drops 11.8% on fuel prices, weak cargo growth
Nordic Airlines Buckle Up for a Turbulent Ride

## Fault lines/flashpoints/powder kegs/military/war drums ##
Pakistan to buy power from Iran: Gilani
"Pakistan will purchase 1,100 MW of electricity from Iran in a bid to overcome the energy shortage in the country, Prime Minister Yousuf Raza Gilani said on Sunday."
Uruguay mulls offering Iran rice for oil
"Uruguay is considering to offer Iran rice shipments in return for oil in apparent disregard of U.S.-led sanctions in response to Iran's disputed nuclear program."
SWIFT Spells Trouble for China, BRIC Nations in Fight for Global Dominance (Financial Sense)
China Warns Against Joint Exercises in South China Seas
Philippines' Spratlys tourism plan likely to rile China
"The Philippines plans to develop a disputed island in the South China Sea into a tourism centre with a 100-metre (330-ft) concrete wharf, officials said on Monday, a bold assertion of its sovereignty that is bound to rile China."
House of Saud to Meet Yemen's Oil Needs as Sana'a Internally Combusts
"Saudi Arabia has pledged to provide Yemen with 100% of its domestic fuel needs for the months of April and May as the country descends into chaos which threatens to spill over the Saudi border; but the $1.2 million petroleum package from the House of Saud is likely to be hijacked by Yemen's battling elite as the struggle for patronage spirals out of control."

## Global unrest/mob rule/angry people/torches and pitchforks ##
Resistance to austerity stirs in southern Europe
Mpls. Police Ponder 8 P.M. Curfew After Youth Mob Attacks
Wave of Tibet immolations among history's biggest
"Dozens of Tibetans have set themselves on fire over the past year to protest Chinese rule, sometimes drinking kerosene to make the flames explode from within, in one of the biggest waves of political self-immolations in recent history."

## Energy/resources ##
Peak Oil Evasion Tactics Scraping The Barrel
A review of time-buying stratagems that are running out of time. -- RF
Power shortage looms
"NAMIBIA is facing a power shortage for the first time in its history and NamPower has asked everybody in the country to cut their use of electricity by at least ten per cent to prevent blackouts."
Transmission Misery Worsens Power Crisis (Nigeria)
Angara warns power shortage is creeping to Luzon, Visayas (Philippines)
Fuel Stockpiling Surges Across Indonesia
Gold Miners Dig Deep — To The Ocean Floor
Sounds like an energy-intensive operation to me. -- RF
Handeni residents lose patience over shortage of water (Tanzania)
Let 'forage fish' populations double, scientists urge
Russia gasoline, gasoil, fuel oil exports fell in February
BHP Declares Force Majeure on Coal Shipments on Strike, Rain

## Infrastructure scavenging ##
Rail delays after cables stolen (UK)
As gas prices top $4, Sonoma County fuel thefts grow (US)

## Got food? ##
Police: Meat in truck not refrigerated (US)
Here we go. Last northern-hemisphere summer there were reports about many food-transport trucks in the US running without refrigeration. As energy gets more expensive, there is a growing incentive to switch off power-hungry refrigeration units, resulting in a broken link in the cold chain. As long-time readers will recall, I have long warned about the breakdown of the cold chain when energy gets expensive. -- RF
Primitive national cold chain will lead to huge wastage & dumping of produce this year too (India)
India can't even keep the lights on, so how can they expand and maintain a cold chain? -- RF

## Environment/health ##
London 2012: 'Flu risk increase' at Olympics - report
"The Olympics will increase the already 'extreme' risk of a flu pandemic spreading in the UK, a report has said."

## Intelligence/security/internet/systemic breakdown ##
21 Signs That The UK Is Being Transformed Into A Hellish Big Brother Surveillance Society
Neighbors Spying on You? New Program Spreading Across the US Takes Neighborhood Watch to Scary New Level
Harper government monitoring online chats about politics
"The Harper government has been monitoring political messages online, and even correcting what it considers misinformation."
Lawyer for soldier accused of Afghan massacre charges military with 'information blackout'
Card Processor: Hackers Stole Account Numbers

## Japan ##
Audio products maker Sansui goes bust
BOJ survey sees no rise in business confidence
"Japanese manufacturers remain gloomy over high oil prices, the strong yen and weaker growth in Asia, according to a quarterly central bank survey released on April 2 that defied expectations that business confidence is improving in the world's third-largest economy."
Japan electricity demand rises 1.3 pct y/y in March
Green subsidies boost Japan auto sales by record 78.2% in March
People will come to free money like flies to sugar water. And it's borrowed money. -- RF
Public Pension Fund To Tap Reserves For Y8.8tln
"TOKYO (Nikkei)--The Government Pension Investment Fund said Monday it will draw down 8.8 trillion yen from reserves in fiscal 2012 to meet payout obligations.
"The amount translates to a 37% jump from slightly more than 6 trillion yen that was tapped in fiscal years 2010 and 2011 and among the largest on record. Starting from roughly 4 trillion yen in fiscal 2009, fiscal 2012 will mark the fourth straight year the fund will have dipped into the reserves."
Noda, Ministers To Start Push For Restarting Fukui Reactors
84 percent say government stress tests for nuclear plant restarts inadequate: survey
Edano to order electricity supply forecast
"Economy, Trade and Industry Minister Yukio Edano said Monday he would order power companies to accurately report this summer's electricity supply and demand forecast, with possible punishments for false reports."
Study: Radioactive water to reach Hawaii in 2 years
"Water contaminated by radioactivity that entered the sea from the Fukushima No. 1 nuclear plant will reach the Hawaiian Islands in March 2014, according to a computer simulation by the Japan Atomic Energy Agency."

## China ##
Wenzhou home buyers return properties to developers en masse
Mixed view on China manufacturing
China Manufacturing Gain Masks Exporters' Woes

## UK ##
Britain set for sweeping Internet, phone monitoring
Three Percent of UK North Sea Output Lost Due to Elgin

## US ##
A New Energy Third World in North America?
Wells Fargo opens business for the ultra-wealthy
I see that some of my prayers for the welfare of the rich have been answered. -- RF
AAA Chicago: March Gas Prices Pure Madness
"Records set for highest prices ever, highest prices in the country"
Is New York at risk of a severe drought?
Arizona Legislature Passes Sweeping Electronic Speech Censorship Bill
"Yesterday, the Arizona legislature passed Arizona House Bill 2549, which would update the state's telephone harassment law to apply to the Internet and other electronic communications. The bill is sweepingly broad, and would make it a crime to communicate via electronic means speech that is intended to 'annoy,' 'offend,' 'harass' or 'terrify,' as well as certain sexual speech. Because the bill is not limited to one-to-one communications, H.B. 2549 would apply to the Internet as a whole, thus criminalizing all manner of writing, cartoons, and other protected material the state finds offensive or annoying. The Bill is currently on Governor Jan Brewer's desk awaiting her decision on whether to veto or sign the bill."
AFA files for bankruptcy due to 'slime'
Stormtroopin' USA

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