Friday, April 06, 2012


News Links, April 7, 2012

## Global Ponzi meltdown/House of Cards ##
EU steel capacity must be cut as it exceeds demand by 45 million tonnes
The Dutch economy seems in a tail-spin. Diminished disposable income and rising numbers of debt restructurings aggravate dropping domestic demand
Pain at the pumps starts to squeeze economy (Canada)
Europe's Three-Year Medicine Is Already Wearing Off
Spanish bank CDS jumps as contagion risks spread
Euro at 3-week low as Spain worries intensify

## Airline Death Spiral ##
Frequent Fliers Don't Believe Airline Performance Has Improved
"More than 53 percent of frequent fliers say that air travel has gotten worse for them in the past year despite statistics showing the industry performing at its all-time best."
Labour woes, weak economy, fuel prices weigh on Air Canada's future

## Fault lines/flashpoints/powder kegs/military/war drums ##
Russia warns against strike on Iran
BRICS nations warn of any attack on Iran
U.S. Missile Defense in Gulf Signals Strike on Iran – Russian Lawmaker
China steps up pressure to prevent any attack on Iran
"A senior Chinese diplomat said on Friday an attack on Iran would invite devastating retaliation that would envelop the region and destabilise the global economic recovery, and added that the international community had to restrain itself from war."
Govt offers tax incentives on Iran exports (India)
"The Union government will offer tax incentives to exporters for sales in rupees to Iran, in the latest effort by New Delhi to bolster exports in return for oil from the Islamic Republic squeezed by Western sanctions, a finance ministry official said."

Blasts temporarily shut down Iraq-Turkey pipeline
Fighting rages as activists urge Syria protests
Seymour Hersh: U.S. Trains And Facilitates MEK Terror Attacks In Iran
Growth forecast for non-lethal weapons
"The global market for non-lethal weapons is forecast for growth as a result of lessons learned from civil unrest over the last decade."
Japan, China to hold maritime talks in May

## Global unrest/mob rule/angry people/torches and pitchforks ##
Anti-austerity protesters clash with police again
Occupy protests to resume Saturday
Austerity drives up suicide rate in debt-ridden Greece
Rioters clash with police (Bahrain)
Violent demo over power disconnection (Pakistan)
"Residents of Lasbela area of the city staged a violent protest demonstration on Friday morning, causing severe traffic jams and leaving the office-bound commuters stranded for hours."

## Energy/resources ##
Chile to extend energy rationing amid drought, delays-paper
The End of the Saudi Oil Reserve Margin
Global oil production trouble - it's not just Iran
"All the attention may be on a loss of oil from Iran these days, but production outages in a variety of spots worldwide is causing about one million barrels of oil a day to sit on the sidelines, helping push oil and gas prices to near record highs."
Pipeline blast halts Iraq oil exports
Shell may build $10 billion gas-to-diesel process plant in Louisiana
Are we anticipating a shortage of diesel fuel? -- RF
Forget gasoline, diesel topped $4 a month ago (US)
"High diesel prices are 'even worse for an economic recovery than high gasoline prices,' said Denton Cinquegrana, senior markets editor at the Oil Price Information Service (OPIS). 'Most Americans pay attention to the price of gasoline, but we totally neglect the impact high diesel prices have on goods and services.'"
Iranian gas to be exempted from tax in Pakistan
Water crisis in city may take a serious turn soon (Bangladesh)

## Got food? ##
Poland Announces Complete Ban on Monsanto's Genetically Modified Maize
Industrial poultry about to get even crappier — literally (US)
The Genetically Modified Food You Eat Every Day (US)

## Environment/health ##
Drug-resistant malaria spreading rapidly in Cambodia, Myanmar, Thailand
Hunted for horns worth more than gold, South Africa's rhinos face worst year on record
Your Cell Phone Makes You A Prisoner Of A Digital World Where Virtually Anyone Can Hack You And Track You

## Japan ##
Japan should ideally phase out nuclear power: minister
"Japan should aspire to phase out nuclear power completely, its energy minister said on Friday, even as the government struggles to persuade a wary public that it is safe to restart reactors after the world's worst nuclear crisis in 25 years."
Japan Shiga threatens to rain on nuclear restarts
Department Store Market To Shrink By Y1tln: Takashimaya
TEPCO workers quitting due to threats, sense of despair
Gov't sets new safety standards for nuclear plants

## China ##
China doomsayer sees crash coming
"China's consumption boom is drawing to a close, according to one economist's contrarian view, which calls for no growth — or even a contraction — in the Chinese economy and the advent of an era of deflation and weaker spending."
Sharp rise in prices of agricultural necessities
"China's skyrocketing prices of agricultural necessities will cut agribusiness margins and increase inflationary pressures, analysts warned Thursday as prices of seeds, fertilizer and diesel oil all saw double-digit jumps in the first quarter."
China admits sites hit in hacking attack
China's grain at risk from climate change
Chinese army told to 'ignore rumours' and remain loyal to Communist Party
"The main newspaper of the People's Liberation Army instructed soldiers yesterday to ignore rumours about a split in the government and remain loyal to Hu Jintao, the Chinese president."

## UK ##
Prisoners should work in chain-gangs to clear rubbish, says Tory MP
"Britain ought to make its prisoners work in 'chain gangs' to clear litter building up on the side of major public roads, a Conservative MP has said."
Fuel crisis leads to diesel thefts and worn-out pumps
Teachers' union summer pensions strike warning
Weather and fuel fears set to encourage Scots to opt for 'stay cations'

## US ##
Mike Bloomberg's New York: Cops in Your Hallways
Will High Gas Prices Bring On Another Summer of the 'Staycation'?
Census: Cities, not exurbs, have been growing
"The nation's prolonged economic downturn appears to have claimed another victim: expansion of suburbs at the edges of metropolitan areas."
Jobs recovery suffers setback in March
For Long-Term Unemployed, Help Is Running Out
Nonfarm Payroll +120,000, Unemployment Rate Fell .1 to 8.2%, Record 87,897,000 "Not in Labor Force"
"Over the past several years people have dropped out of the labor force at an astounding, almost unbelievable rate, holding the unemployment rate artificially low."
DHS Purchases Bullet Resistant Checkpoint Booths Amid Large Scale Ammo Buildup
Analysts warn of cost of Iranian sanctions
"Sanctions on the Iranian energy sector are affecting gasoline prices and a sanctions opponent said it's unfair for U.S. leaders not to inform the public."
Federal deficit so far: $777 billion

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