Sunday, May 20, 2012


News Links, May 21, 2012

## Global Ponzi meltdown/House of Cards ##
Europe Banks Fear Flight of Deposits
The Mortgage Crisis Hits France Front And Center: Are French Bank Nationalizations Imminent?
Eastern European Currencies Poised for a Double-Whammy of Pain
CIS steel export market continues to go down

## Fault lines/flashpoints/powder kegs/military/war drums ##
Some Say NATO's Very Survival Is In Doubt
Russia says West still considering military action on Iran
Panetta: Military Option For Iran 'Not Being Weighed'
"Just days ahead of the talks between the six world powers and Iran over the latter's nuclear program, reports say Washington is 'radiating optimism' with expectations of a peaceful nuclear deal and a 'warming of relations' with Tehran."

## Global unrest/mob rule/angry people/torches and pitchforks ##
Anti-NATO, war protesters rally in Chicago
Fire, barricades, and a Rolling Stone: Quebec protests make waves
"A plan to restore order in Montreal appeared to erupt in smoke late Saturday, with fiery blockades blazing on a busy downtown street corner in a dispute gaining international attention."
Impatient Thai red shirts want justice from PM Yingluck
20,000 anti-capitalist protesters march in Frankfurt: police
G-8 Summit: Police in riot gear contain Ethiopian activists protesting in Maryland

## Energy/resources ##
Massive power cuts in Delhi
G8: Camp David meeting issues pledge to keep global oil supply stable despite new sanctions on Tehran
Pakistan negotiates for Indian and Iranian power
The age of extreme oil: 'This used to be a forest?' (oil sands)
"It takes a barrel's worth of energy to produce just three barrels of oil; 30 years ago it would have been 100."
Oil report from the "Diplomatic Council on Energy Security"

## Got food? ##
Thai rice prices hit seven-month high on tight market supply
Corn Takes Off as China Buys

## Environment/health ##
Arctic melt releasing ancient methane

## Intelligence/security/internet/systemic breakdown ##
Chicago city, police websites possibly hacked

## Japan ##
Kansai leaders oppose govt call to back Oi reactor restarts
"Local government leaders in the Kansai region have voiced their opposition to restarting reactors at Kansai Electric Power Co.'s Oi nuclear power plant in Fukui Prefecture, despite calls from central government officials asking for their support."
Western Japan puzzled over power reductions / Affected businesses concerned over possible electricity shortages hurting production numbers
BOJ struggling to buy govt bonds
"The Bank of Japan has been struggling to buy government bonds from commercial banks because their sell offers have repeatedly failed to meet targeted amounts.
"Banks apparently think that selling government bonds on the market is more lucrative than selling them to the central bank because bond prices have been soaring amid eurozone concerns, money market sources said."
Formaldehyde detected again / Tokyo govt suspends water supplies from purification plant

## China ##
Hey, Krugman, Ask China If Stimulus Is a Good Idea (Gordon Chang)
China's towering metal stockpiles cast economic shadow
"When metals warehouses in top consumer China are so full that workers start stockpiling iron ore in granaries and copper in car parks, you know the global economy could be in trouble."
World's electronic waste ends up in China
"Five million TV sets, 4 million refrigerators, 5 million washing machines, 5 million PCs and 10 million mobile phones are scrapped in China every year."

## UK ##
Ed Balls warns of cuts 'catastrophe'

## US ##
US hot rolled steel futures plunge as European Crisis Deepens
Student debt, lack of well-paying jobs delays independence for new grads
How the fracking mess is about to make the mortgage mess worse
"One fact ought to tell you all you need to know about the risks faced by homeowners signing leases for natural gas drilling on their property: Wells Fargo & Company, both the largest home mortgage lender in the United States and a major lender to the country's second largest producer of natural gas, Chesapeake Energy Corp., refuses to make home loans for properties encumbered with natural gas drilling leases."

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