Saturday, May 26, 2012


News Links, May 27, 2012

## Global Ponzi meltdown/House of Cards ##
No German money for Greek ''bottomless pit'': minister
Harsh Language from Lagarde: "IMF Has No Intention of Softening Terms"; From Head of Deutsche Bank: "Greece is a Failed Corrupt State"; Purposely Inflammatory Statements to Force Greece Exit (Mish)
Brazil Facing Its Own 'Sub-Prime' Lending Problem
Moody's downgrades three big Nordic banks
British Plan To Keep Greeks Out, As Euro-Crisis Nears End Game
Asian Stocks Fall for Fourth Week on China, Europe Debt Concerns
European mess deepens as economy slumps, bank capital hole grows!
Marc Faber Guarantees A Global Recession
Escalating Bank Runs, Many Banks Will Not Survive
Eurozone strains intensify as 'massive shock' looms
Dubai rolls out incentives for staycations during slow summer

## Airline Death Spiral ##
Desi airlines' like KFA, IndiGo, losses may hit $1.4bn in FY13
Bhutan Airlines wants to bow out for a while

## Fault lines/flashpoints/powder kegs/military/war drums ##
Iran nuclear talks a 'complete failure,' says Iranian diplomat
Iran has enough uranium for five bombs: expert

## Global unrest/mob rule/angry people/torches and pitchforks ##
Tunisian Salafi Islamists riot, clash with police
"Hundreds of Salafi Islamists attacked bars and shops and clashed with security forces in a Tunisian town on Saturday in the latest incident to raise religious tensions in the home of the Arab Spring uprisings."
Mass arrests and detentions in Azerbaijan ahead of Eurovision Song Contest
Quebec protests adopt a Latin flavour
Student Strike Prompts Québec to Suspend Civil Liberties
UAE continues crackdown on activists

## Energy/resources ##
Indian Petrol price hike to benefit OMCs, increase dieselisation: CRISIL
Diesel shortage in Chennai to continue
Fuel Scarcity Taking a Toll in E. Kalimantan, Businesses Complain
"Companies in East Kalimantan are on the verge of collapse as their production plummets amid an acute fuel shortage gripping the province, a business lobby warned on Wednesday."
Electricity shortage said to eat into Mindanao firms' revenues
"About 84 percent of the businesses in Mindanao have been incurring severe declines in their revenues, reaching as high as P50,000 for every hour of power outage, according to French energy specialist firm Schneider Electric."
Shell Spent $4 Billion in Campaign to Open the Arctic for Oil Drilling

## Infrastructure scavenging ##
Nottinghamshire Police warning over catalytic converter thefts

## Got food? ##
Wheat Fields Parched By Drought From U.S. To Russia
"Droughts withering wheat crops from the U.S. to Russia to Australia will probably spur the biggest reduction in global supply estimates since 2003 and drive prices to the highest in almost a year."
Little rain in N. Korea affecting farms

## Environment/health ##
Natural Cooling Strategies
"Who needs air conditioning? These design strategies can help you keep your home cool without it."

## Japan ##
Chip Maker Renesas to Cut Up to 14,000 Jobs, Sell Plant
Japanese fossil fuel imports to increase 17% over next 5 years
Japan says Fukushima spent-fuel risk contained
Actual Fukushima worker "In case of the major aftershock, all the reactors will be in crisis"
Prices climb but no deflation end in sight: analysts
Japan, China to begin yen-yuan direct trading as early as June
BTMU lifts freeze on Iranian assets following N.Y. court ruling
"The Bank of Tokyo-Mitsubishi UFJ has lifted its freeze on the accounts of the Iranian government and central bank after a New York State federal district court ruled that the freeze, ordered by the New York State Supreme Court, was invalid with regard to Iranian assets outside the United States, sources familiar with the matter said Friday."
Japan and China are bypassing the dollar in bilateral trade, and a major bank unfreezes Iranian assets. And as we saw a couple of days ago, Tankers from Iran may get reinsured. No doubt there are lots of exploding heads in Washington these days. -- RF
Japan Gas Binge Ties Third-Biggest Economy to One Fuel

## China ##
China top aluminium province Henan idles capacity as demand slumps
Power supply to remain tight this summer despite cooling economy

## UK ##
Spain financial crisis: Sun setting on expats' Costa dreams

## US ##
IRS To Close Offices In Attempt to Cut Costs
The Rise of the Occasionally Daily Newspaper
Disneyland announces plans to raise ticket prices by up to 30 per cent
As Commandos Raid Tampa, US State Dept Demands Power to Declare War?
Ron Paul's Push For Full Fed Audit Slated For House Vote
44% of Cook County homes with a mortgage are underwater
Are U.S. Nuclear Plants Ready for a Fukushima-Like Meltdown?

And finally… Police called to reports of bloodied man find crew shooting zombie film

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