Wednesday, May 23, 2012


News Links, May 24, 2012

## Global Ponzi meltdown/House of Cards ##
Eurozone warned 'severe recession' looming
Hewlett-Packard to cut 27,000 jobs by the end of 2014
75 mn youths to be unemployed in 2012: IlO
Singapore Inflation Accelerates
"Singapore's consumer price inflation accelerated in April, mainly because of higher housing costs as rents continued rise, leaving the central bank to balance control of rising prices against support of sagging economic growth."
Flight to Safety: German 2-Year Bonds Yield Hits Zero; Eurozone Officials Tell Countries to Prepare for Greece Exit
Germans Afraid of Greek Anger Avoid Vacations in Blow to Economy
Macroeconomic indicators - Morgan Stanley cuts India growth forecast
S&P cuts Tunisia to junk with two-notch downgrade
20% of MENA banks may need fresh capital

## Airline Death Spiral ##
Entire contents of airport for sale (UK)
"The airport was closed in December due to a lack of business."
SAS weakened by Skyways bankruptcy

## Fault lines/flashpoints/powder kegs/military/war drums ##
China cancels high-level military visit to Japan
Kurdish Oil Pipeline Could Split Iraq

## Global unrest/mob rule/angry people/torches and pitchforks ##
Russian protest fines could soar
"Fines for participating in illegal demonstrations in Russia could increase from $160 to as much as $9,600 under a measure in the State Duma, or lower house."

## Energy/resources ##

## Environment/health ##
Scientists Studying the Link between Fracking and Recent Earthquakes in Texas
Chelsea Flower Show 2012: Protests as pesticides cause bee numbers to plummet
"Campaigners dressed as giant bees have been protesting outside Chelsea Flower Show against the use of pesticides as a new report warned increasing use of the chemicals is already reducing the number of insects in Britain."

## China ##
China to Allow Smaller-Company Bond Issues From June
"China will allow small and medium- sized companies to sell bonds through private placements starting next month as part of measures to broaden financing channels for businesses struggling for funds."
Shadowy China "X-Men" stoke social strains: report
China's economy weighing on region

## UK ##
Exclusive: 40,000 lights set to go out across our streets
"MORE than 40,000 street lights are set to be switched off at night in Yorkshire plunging parts of the county into darkness as cash-strapped councils look to save money."
National Security Council considers plan for Israel strike on Iran
"Ministers have considered contingency plans for how Britain would respond to a crisis in the Gulf triggered by any Israeli strike on Iran's nuclear facilities."

## US ##
US 'risks recession' if tax rises and spending cuts hit
"The US could fall off a 'fiscal cliff' if tax rises and spending cuts due to take effect at the end of 2012 are not avoided, auditors have said."
Such stupidity is one reason the US is going down the tubes. -- RF

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