Wednesday, May 02, 2012


News Links, April 30, 2012

## Global Ponzi meltdown/House of Cards ##
Pain for Hong Kong's IPO Buyers
"Companies ranging from China's biggest banks to the world's top makers of luxury goods have tapped the Hong Kong IPO market in the past three years, making it the world's leader.
"But investors who bought shares in many of the city's offerings aren't cheering. The average initial public offering in Hong Kong since the start of 2009 is down 13%, and more than two-thirds of the offerings have underperformed the Hang Seng Index since their listings."
Demand for Credit in Europe Collapses (Mish)
Steel consumption growth to slow in 2012- Worldsteel
ThyssenKrupp's Blast Furnace 9 In Duisburg Remains Idled
U.S. Steel lays off 50 this week, leaves blast furnace idle
A housing crisis of global proportions

## Airline Death Spiral ##
Shut down AI? Who else will fly to north-east? (India)
Scarcity of flights pushes up freight costs (Africa)
Republic narrows 1Q loss to $7.1 million
"Republic Airways Holdings (RAH), parent of Chautauqua Airlines, Frontier Airlines (F9), Republic Airlines and Shuttle America, posted a net loss of $7.1 million in the first quarter 2012, narrowed from a $22.4 million net loss in the year-ago period."
China Eastern orders 20 777s as 1Q profit plummets 73.7%
Singapore Airlines fails to draw more fliers
Taiwanese airlines report first quarter net losses

## Fault lines/flashpoints/powder kegs/military/war drums ##
Wary of Iran, Saudis seek progress on Gulf union
"Wary of Iran and regional protest movements, Gulf Arab states are pushing ahead with plans for a political union that would involve joint foreign and defense policies, the Saudi foreign minister said in a speech at the weekend."
Fascist Salutes Return to Greece as Anti-Immigrants Chase Voters

## Global unrest/mob rule/angry people/torches and pitchforks ##
Student demos turn violent in Mexico, 200 arrested
Tens of thousands protest health, education cuts across Spain

## Energy/resources ##
Severe load shedding, water crisis persists (Bangladesh)
"Life appears to be under mounting stress in some of the residential areas in Dhaka city due to severe shortage of power and water supply. Occasional heat wave and scanty gas supply are adding to the woes of the citizenry."
Acute energy shortage may lead towards food shortages (Pakistan)
Rwanda to start power rationing as demand peaks
Floating plants to ease Iraq power shortage

## Got food? ##
Mad Cow Found in California … Because Cows Are Being Fed Blood, Animal Parts and Feces
Food inflation feared as soya prices soar
"The price of soyabeans is heading towards the record high set during the 2007-08 food crisis, which is set to reignite fears of runaway global food inflation."

## Environment/health ##
Wind farms can cause climate change, finds new study
"Wind farms can cause climate change, according to new research, that shows for the first time the new technology is already pushing up temperatures."

## Japan ##
Local government heads form group to press for scrapping nuclear reactors
"Dozens of local government leaders banded together under the anti-nuclear umbrella April 28 in calling for a nuclear-free society."

## China ##
Earnings bode ill for economy 
"Some of China's top locally listed firms have reported dismal first-quarter earnings, sparking fears that the world's second-largest economy is in serious trouble.
"The sectors that are affected the most include resources, airlines and building materials, as high production costs and government efforts to rein in the runaway property market have battered their bottom line."
Foreign trade situation 'far from optimistic' (People's Daily)

## UK ##
Missiles could be stationed on rooftops during London Olympics
"Minstry of Defence says it is evaluating placing surface-to-air missiles on top of residential flats to protect against terror threats"
Heathrow at 'breaking' point as Border Force struggles to cope, leaked memos warn

## US ##
Milwaukee Red Cross Told To Prep For Chicago Evacuation During NATO Summit
Senate Approves Police Access To Drug Files (Vermont)
"The Vermont Senate has voted to allow police access without a search warrant to a database of Vermonters' prescriptions maintained by the Vermont Department of Health."
Help For The Economy? Not From Debt-Bound Grads
No cash needed at Monroe barter club
Banks cooperate to track Occupy protesters

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