Wednesday, May 02, 2012


News Links, May 2, 2012

The 2012 rice crop is planted!

## Global Ponzi meltdown/House of Cards ##
Bank of Spain Confirms Foreigners Dump Spanish Bonds; Spanish Banks Foolishly Load Up
Israel's jobless rate leaps as the counting changes
"Israel's move to bring its economic statistics in line with leading Western countries has led to a far bleaker picture of its jobs market, undermining claims that the country is riding through the global crisis with relative ease."
Polish steel market sinks in glut
"Steel major in their bid to gain foothold in Eastern European market have taken the plunge with price reduction in Poland by Euro 20 per tonne. Some manufacturers have pruned production significantly to align with the demand and supply from CIS mills (Russia, Ukraine)."
Record-High Gasoline Further Burdens Consumers in Europe
Shipping firms post consecutive quarterly losses (Taiwan)
"The nation's major container shipping firms continued to post quarterly losses in the first quarter on continuous weak freight rates, low demand in the first two months and rising pressure on operating costs."
Banks Halt Lending to Dry-Bulk Shipping Companies, Genco Says

## Airline Death Spiral ##
Domestic airfares hit record high in 2011 (US)
Airlines hope 'dash for gas' can shrink fuel costs

## Fault lines/flashpoints/powder kegs/military/war drums ##
China, Russia resist West's sanctions push for Sudan, S.Sudan
"China and Russia are resisting a Western push for the U.N. Security Council to threaten Sudan and South Sudan with sanctions if the two countries fail to comply with demands to halt their escalating conflict, U.N. envoys said."
Obama targets evaders of Iran, Syria sanctions
IMF rejects call to cut ties with Iran
"The International Monetary Fund on Tuesday rejected a call by a US anti-Iran group for it to cut its relations with Tehran's central bank in order to adhere to US and European sanctions."
Map: US bases encircle Iran
Japan foreign minister warns against Iran strike at start of Israel visit
US deploys F-22 fighter jets to UAE: officials
Israel begins building wall on Lebanese border
Israel joins UN list of states limiting human rights organizations
Greece's Extreme Right Poised For Parliament As Elections Near

## Global unrest/mob rule/angry people/torches and pitchforks ##
Occupy May Day goes global
Occupy takes May Day protests to streets
NYPD, FBI Raid Occupy Wall Street Protesters' Homes In Anticipation Potentially Violent May Day
Europeans protest austerity at May Day rallies
Kuwait riot police disperse stateless protesters
Bahrain breaks up protests, faces calls to free prisoners
"Riot police firing tear gas and stun grenades routed protesters in Bahrain's capital on Tuesday as the government came under mounting international pressure to release jailed leaders of last year's uprising."
May Day In Chicago: Protesters Block Bank Of America Entrance, Rally Downtown
Stinging gas sends May Day protesters fleeing
Vandals trash San Francisco neighborhood
"Vandals marched through the Mission District of San Francisco, damaging at least 30 buildings, cars and a police station, after an Occupy rally, officials said…
"'It was like the station was under siege,' a police officer said of the Mission police station, which ended the evening marred with pink and yellow paint, and its glass doors broken. At least one person was arrested.

## Energy/resources ##
Solve Water Problems Or Forget Growth, India Told

## Got food? ##
Farmers face high costs when planting crops

## Environment/health ##
Mother Nature Mugs California's Diablo Canyon Nuclear Power Plant
Poisonous caterpillars could bring misery to millions of Olympic spectators
Falling Temperatures May Spur Brazil Frost, Forecaster Says
Fracking 'Health Challenges' to Be Examined by U.S. Advisers

## Intelligence/security/internet/systemic breakdown ##
Is there a worldwide parking problem?
Yes, but people offering solutions like this ought to have their heads examined. -- RF
More white powder incidents in New York; police see Occupy link
"Three new envelopes containing suspicious white powder were sent to New York City banks and news organizations on Tuesday, along with notes suggesting the sender sympathizes with the Occupy Wall Street's Day of May 1 protests, police said."
5 arrested for allegedly trying to blow up Ohio bridge
"The public was never in danger from the explosive devices, which were inoperable and controlled by an undercover FBI employee, according to sources close to the investigation."
Oh, brother! -- RF

## Japan ##
Cesium exceeding new limit detected in 51 food items in nine prefectures
2,566,720Bq/㎡ in Edogawa ku Tokyo
Steel Exports Fall 8.3% On Year In FY11

## UK ##
U.K. Factory Index Falls More Than Forecast on Export Slump

## US ##
Homeownership rate drops to 15-year low
Well, so much for Dubya's "ownership society." -- RF
Social Security is a Ponzi scheme (Fox News)
Yes, but pension programs are just a subset of the infinite-growth economy, which itself is structurally the same as a Ponzi scheme. -- RF
News About Social Security Trust Fund Shortfall Only Gets Worse
Providence Eying Bankruptcy Cuts Pensions in Rhode Island
Pensions: Reduced today, gone tomorrow. -- RF
Fed sees more growth? Don't count on it. Recession ahead.
Five Ways the U.S. Could Disintegrate
Student Loan, Meet Social Security: Seniors Still Stuck with School Debt

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