Tuesday, May 15, 2012


News Links, May 15, 2012

## Global Ponzi meltdown/House of Cards ##
IMF to buy Gold worth $2.3 billion as credit risk increases
Spain Hit By Fears on Banks, Greece
IMF cuts sub-Saharan Africa 2012 growth forecasts
India Inflation Accelerates
"Inflation in India accelerated in April as prices of most commodities rose, squeezing the amount of room the central bank has to ease monetary policy and support faltering growth."
Transcript: 8 Shocking New Forecasts for 2012 and Beyond
Global hyperinflation, gold at $5,000/oz, etc. Oh, dear! -- RF
Organizers scale down scope of Pan Am Games to stay within budget
Despite Germany, euro zone sinks towards recession
Greece Faces Big Debt Payment Tuesday: Now What?
Grecian solution (barter)
Moody's Downgrades Italy's Banks, More Downgrades To Follow
S.Africa aims to lift savings, cut budget strain
"South Africa is looking to strengthen its social security system by encouraging a higher savings rate among its highly indebted households, which should help economic growth and reduce the burden on state finances, the Treasury said on Monday."
Good luck! -- RF
Asian shares fall after optimism fizzles on China

## Airline Death Spiral ##
Frontier dropping Tucson-Denver flights
Cathay Pacific Cuts Cargo Capacity To Fight Economic Uncertainty
Tam Quarterly Profit Falls 22% on High Fuel Costs, Weak Demand

## Fault lines/flashpoints/powder kegs/military/war drums ##
Militants blow up Yemen gas pipeline again
Greece reaches edge of abyss as leaders predict failure of government talks
China warns of unstable times at Asian summit
Gulf Arabs to weigh closer union at Riyadh meeting
"Gulf Arabs began a summit to discuss a closer union on Monday, part of a strategy by wealthy Sunni Muslim monarchies to counter Shi'ite Muslim discontent in Bahrain and Iran's growing influence."
Australian Defense Budget Faces Deep Cuts
Pakistan May Reopen NATO Supply Lines: Minister

## Global unrest/mob rule/angry people/torches and pitchforks ##
Hundreds of Uighurs lobby China for independence
"Around 200 ethnic Uighurs from around the world gathered in Japan on Monday for a five-day meeting to press their case for independence from China."
Spanish police clears 'indignants' from Madrid's square

## Energy/resources ##
S.Africa battles to keep blackouts at bay
"It is five o'clock in the evening in South Africa and the computer dials at the nerve-centre of state electricity firm Eskom are cranking towards the red as millions of people get home and turn on their heating, hot water and cookers."
Gov't approves emergency measures for electricity market (Israel)
"Ministries authorized to apply 'crisis protocols' to keep Israelis from being kicked off electricity grid due to high summer demands"
The US, China, and India Risk Severe Water Shortages
"Research by the risk analysts Maplecroft has found that three global superpowers have vast regions that are at risk of drought as an unsustainable rate of water use is outstripping supply. The US, China, and India risk negative impacts on businesses and agriculture which could undermine economic growth."
What Is Our Energy Future?
"Global energy consumption will double by mid-century, regardless of what the United States does."
Saudi Arabia Plan $109 Billion Solar Energy Project to Reduce Oil Consumption
How high priced oil is changing our lives (Jeff Rubin)
"Only rich people will be able to afford cars. Everyone else will be taking public transit.
"Commuters will move into Toronto leaving the suburbs to revert to their former status as farmland.
"The only provinces creating jobs will be those with oil. The poorest regions may resort to job-sharing."
Updating World Deepwater Oil & Gas Discovery
Bottom line: More oil must be found, or else... -- RF

## Got food? ##
Veggie prices surge 61%, fuel 7.2% inflation in April (India)

## Environment/health ##
With Gas Boom, Pennsylvania Fears New Toxic Legacy

## Intelligence/security/internet/systemic breakdown ##
Algorithms: The Ever-Growing, All-Knowing Way Of The Future
DHS Releases More Documents on Occupy to PCJF
"Homeland Security Documents Show Massive Nationwide Monitoring of Occupy Movement"
AP Finds Someone to Draw 'Evidence' Against Iran

## Japan ##
Tepco has almost $10 billion loss after Fukushima
Suspended Hamaoka nuclear reactors weigh heavily on Chubu Electric
Chubu Electric mulling paying users for power consumption cuts
Gov't sets 15 percent energy-saving goal for Kansai region based on power exchange
Students shun nuclear majors / Govt, industry try to foster interest in the now-unpopular field
Japan assembly agrees to restart reactors, hurdles remain

## China ##
China's easing aimed at housing market

## UK ##
Nurses stretched to 'breaking point' as 60,000 frontline health service posts under threat, says RCN
"Overworked nurses are being stretched to 'breaking point' amid spending cuts that have placed more than 60,000 frontline jobs in the NHS at risk, it was claimed today."
Diabetes care provision 'crisis' in England

## US ##
California Sinkin': Brown pushes tax hike as California's money woes deepen
200,000 Lose Unemployment Benefits This Week, Nearly Half From California
Christie's 10% Tax Cut Imperiled as N.J. Revenue Slumps
Harrisburg Ex-Mayor Left Pennsylvania City Near Bankrupt
Why There's A Growing Attraction To Muni Bonds
Go ahead, sink your nest egg in muni bonds. But count me out. -- RF
Power Companies Hope for El Nino Break from Record Summer Heat

And finally‚Ķ Underwater Hotel to be Dubai's Latest Extravagance

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