Saturday, May 12, 2012


News Links, May 12, 2012

## Global Ponzi meltdown/House of Cards ##
Euro Economy to Shrink as Spain, Italy Re-Enter Recession
Container shipping firm sinks deeper into the red
"Container shipping firm Neptune Orient Lines (NOL) has posted yet another quarter of losses, as its new cost-cutting regime fails to stem the bleeding caused by high fuel costs and low freight rates."
Dry-Bulk Shippers Still in Troubled Waters
Baltic sea index drops on weak Chinese demand
India's industrial output declines 3.5%
Dow Drops Most in 2012 as Europe Concern Resurfaces

## Airline Death Spiral ##
British Airways, Iberia losses deepen on fuel costs
AMR, creditors will explore merger option: source
"AMR Corp, the bankrupt parent of American Airlines, will consider merger options with rivals, including US Airways Group Inc, a deal AMR has long resisted, a source familiar with the matter said on Friday."

## Fault lines/flashpoints/powder kegs/military/war drums ##
The Energy Wars Heat Up (Michael T. Klare)
"From the Atlantic to the Pacific, Argentina to the Philippines, here are the six areas of conflict -- all tied to energy supplies -- that have made news in just the first few months of 2012."
Why India is Ignoring U.S. Pressure and Continuing to Trade with Iran
Pirates hijack Greek-owned tanker off Oman
Ship guards trigger clashes with pirates
"The growing use of armed guards on merchant ships plying the piracy-plagued waters of the Arabian Sea and the Indian Ocean has spawned increasingly violent encounters with Somali marauders, maritime security experts say."
The U.S. Turns its Back on Europe, Allowing Russia and China to Approach
Protest in Philippines over South China Sea stand-off
Japan, U.S. to station Osprey aircraft directly in Okinawa
Complex U.S. Air Sea Battle Strategy Keeps Eye on Iran
U.S. resumes Bahrain arms sales despite rights concerns
Power struggle in Angola amid new oil boom
"Angola, Africa's second-largest oil producer, is locked in a power struggle over who'll succeed longtime strongman Jose Eduardo dos Santos amid signs offshore exploration will open up giant fields like those found by Brazil across the Atlantic."
South American Defense Spending Doubles in 5 Years: Report

## Global unrest/mob rule/angry people/torches and pitchforks ##
Energy Crisis: Power protesters go on rampage (Pakistan)
"Thousands of protesters took out rallies, staged sit-ins, ransacked offices and residences of lawmakers and politicians, attacked WAPDA installations, damaged vehicles and clashed with police, resulting in several injuries in different parts of the province."
Polish workers "chain in" lawmakers over pensions
"Hundreds of Polish trade union members protesting against plans to raise the retirement age chained together barriers meant to keep them out of parliament on Friday, locking lawmakers in for more than an hour."
Italy anarchists claim attack as public anger rises
Warnings of civil unrest in Venezuela (Financial Times)
"Politicians across the spectrum in Venezuela are trading dire predictions of impending violence in the vacuum left by uncertainty about the health of President Hugo Chávez."

## Energy/resources ##
Argentina Slows Climate Action Amid Energy Supply Crisis
Norwegian Crude Oil Reserves and Production as of 12/31/2011
South Africa's oil supply in danger
Water competition challenges U.S. security
Iran eyes electricity export market
"The Iranian Energy Ministry said it expects to secure export contracts for electricity with the Syrian and Lebanese governments in the near future."
India finds oil drilling off Vietnam a losing proposition
"India is likely to withdraw from an oil block in the South China Sea after hydrocarbons did now show up in an exploratory well, said government sources. Officials here have conveyed to Vietnam plans to terminate operations on commercial considerations, said the sources who knew about the talks."

## Infrastructure scavenging ##
If It's Made of Metal, Thieves Aren't Picky

## Got food? ##
Super Weeds No Easy Fix For US Agriculture-Experts
"A fast-spreading plague of 'super weeds' taking over U.S. farmland will not be stopped easily, and farmers and government officials need to change existing practices if food production is to be protected, industry experts said on Thursday."
Asia Faces Threat To Crops If El Nino Unleashed Again
Canadian farmers have never been older: census data
Saudi Arabia keen on African farm investments
Indian wheat rots in the open after bumper harvest

## Intelligence/security/internet/systemic breakdown ##
Students made to carry 'Orwellian' locater tags (UK)
"College staff and students have been issued with compulsory electronic badges that are capable of tracking their movements, leading to criticism of 'Orwellian' tactics."
Fear we are returning to a time in history where it is a common occurrence to fight for one's life?

## Japan ##
Panasonic logs record net loss of ¥772 billion
NTT annual profit drops 8.2%
TEPCO officially applies to gov't to hike household electricity rates
"Tokyo Electric Power Co (TEPCO) on Friday officially applied to the government to hike household electricity rates by about 10% in July."
Many companies refusing to pay higher TEPCO rates
"About 30 percent of Tokyo Electric Power Co.'s corporate customers have been refusing to renew their contracts since electricity rates were hiked in April, sources close to the utility said."
Gov't forces choice on local bodies: restart nuclear reactors or face power restrictions
Japan's national debt hits record 960 trillion yen

## China ##
China economy shows unexpected signs of weakness
Unexpected? -- RF
Food prices boost CPI in China

## UK ##
British Gas owner Centrica warns of higher energy bills
'Sonic weapon' deployed in London during Olympics

## US ##
Grant to boost use of food stamps at farmers markets
Informant society: Deerfield employees can earn $100 for reporting crimes
TrimTabs on Debt and Disability Claims: How Much Debt Does it Take to Generate $1 in GDP? Disability Fraud vs. Expiring Unemployment Benefits Revisited (Mish)
Well, there's the debt-driven infinite-growth economy for you. -- RF
Will the FHA require a bailout? – 12,000,000 underwater mortgages 3,000,000 are FHA insured loans. 1 million underwater mortgages originated in last two years (Dr. Housing Bubble)

And finally…
Mayans never thought the world would end in 2012, new research shows
Corporate types advised to dress like protesters at time of NATO summit

<< Home

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