Wednesday, May 02, 2012


News Links, May 1, 2012

## Global Ponzi meltdown/House of Cards ##
Reinharts, Rogoff See Huge Output Losses From High Debt
"The U.S. and other developed economies with high public debt potentially face 'massive' losses of output lasting more than a decade, even if their interest rates remain low, according to new research by economists Carmen and Vincent Reinhart and Kenneth Rogoff."
22 Signs That The Collapsing Spanish Economy Is Heading Into A Great Depression
Europe's Anti-Austerity Calls Mount as Elections Near
ILO warns global employment situation is 'alarming'
"The International Labour Organization (ILO) has warned that the global employment situation is 'alarming' and unlikely to improve soon."
Bartering is becoming a big deal
"Survival Bartering Will Keep You Alive After a Disaster" Says
Italy Faces 20 Billion-Euro Gap, Tremonti Tells Corriere
Monday Market Monitor - India - WEEK 17 - Down trend continues
"The prices of both long and flat steel products in Indian domestic market continued their downward journey for the third consecutive week reflecting serious issues on demand side."
Spain's Central Bank consults experts on toxic assets: sources
"Spain's Central Bank is consulting with international bankers and property experts on setting up a holding company to value and sell off toxic real estate assets from the country's troubled financial sector, two sources said on Monday."
With Spain In Recession, S&P Cuts Banks Like Santander, BBVA
Irish debt peak higher after 2012, 2013 growth cut
"Ireland's government debt will peak a percentage point higher than previously expected next year after Dublin cut its growth forecasts for 2012 on Friday and also trimmed its outlook for next year."

## Airline Death Spiral ##
Delta to Buy ConocoPhillips Refinery for $180 Million
Pakistan International Air Posts Wider Loss on Fuel Costs
Taiwan's China Airlines 1Q Net Loss Widens To NT$940.3 Million

## Fault lines/flashpoints/powder kegs/military/war drums ##
China mulls guarantees for ships carrying Iran oil
"China is considering sovereign guarantees for its ships to enable the world's second-biggest oil consumer to continue importing Iranian crude after new EU sanctions come into effect in July, the head of China's shipowners' association said."
Iran weighs nuclear work ahead of embargo
"Iran is studying a proposal offered by Russia to halt some nuclear activity in exchange for protection from European sanctions, an envoy said."
Greece opens detention camp for immigrants as election looms
Could domestic flak shoot down Netanyahu over Iran?
"He may be ready to brave Iranian air defenses, retaliatory missiles and Western diplomatic blowback in tackling Tehran's nuclear program, but Israeli Prime Minister Benjamin Netanyahu will find it hard to fly past flak from his own senior staff."
Philippines Appeals for U.S. Help in Building Armed Forces
"The Philippines, lamenting the poor state of its armed forces, appealed April 30 for U.S. and international help in building a "minimum credible defense" amid an escalating territorial dispute with China."

## Global unrest/mob rule/angry people/torches and pitchforks ##
Europe: The Dangers of Spring
"May arrives and with it perhaps a European Spring. For the eurozone, however, it promises a month of turbulence."
As May Day Protests Are Planned, Will Wall Street Be Re-Occupied?

## Energy/resources ##
U.S. Nuclear Industry Must Find Vast Supplies of Uranium before Next Year
"There are still 435 reactors in operation worldwide today that require 175 million pounds of uranium per year. However, current production rates are facing a deficit of about 40 million pounds."
Transformer breakdown causes state-wide power outage in Sabah
LDK Solar Cuts 5,554 Workers Amid Clean-Energy Shakeout
"LDK Solar Co. (LDK), the world's second- largest maker of wafers, cut 5,554 workers this year after plunging prices cut margins to record lows amid a shakeout that's claimed thousands of renewable-energy jobs."
US Natural Gas Rig Count Hits 10 Year Low
"Front-month gas futures hit a 10-yr low of $1.902 per mmBtu late last week, a level that curtailed producer profits and made most dry Nat Gas drilling uneconomic."
Why High Oil Prices are Here to Stay
Mills may face shortage of cotton (India)

## Infrastructure scavenging ##
Czech metal thieves dismantle 10-ton bridge
"Metal thieves in the Czech Republic dismantled an entire 10-ton bridge and more than 650ft of track."

## Got food? ##
Global Wheat prices for 2012-13 to move up on bad weather in Europe
Power shortage leads to rise in vegetable prices in Kochi (India)

## Environment/health ##
Plastic Seas
"The problem of plastic waste in the world's oceans may be much worse than previously thought—and the picture already looked grim."
Number of painkiller-addicted newborns soars (US)

## Intelligence/security/internet/systemic breakdown ##
White House keeping the lid on bin Laden images one year after raid

## Japan ##
Thyroid nodules rate in Fukushima is 20 time higher than in Chernobyl
Noda: Japan to boost Asia-Pacific defense
"Tokyo will increase its Asia-Pacific military defense role, Japan's prime minister said before meeting with President Barack Obama at the White House Monday."
107 municipalities have never conducted bridge inspections: Mainichi survey
"Over 100 local municipalities across Japan have never inspected the bridges in their jurisdictions, with a majority of them citing financial difficulties, a Mainichi survey has revealed."
Japan power utilities post record losses for 2011-2012

## China ##
China's property boom has peaked, forever
China Likely to Pressure Cotton Prices
Growth of China's petrochemical sector slows further in Q1

## UK ##
Must spend money on crumbling care system, charities warn

## US ##
Local Residents Barter for Food
America Needs A Ron Paul-Gary Johnson Presidential Ticket (Forbes)
Illinois Borrowing Costs Rise by 22.5%, Expect Conditions to Worsen
The $7 trillion fiscal cliff
Navy Plan For California Blackouts Nears Completion
"The U.S. Navy is nearing a first-time agreement to curb electricity use at its sprawling San Diego-area bases if power runs short in Southern California this summer, a deal intended to diminish the threat of blackouts while the troubled San Onofre nuclear plant remains offline."
Stocks finish worst month of the year

<< Home

This page is powered by Blogger. Isn't yours?