Wednesday, May 30, 2012


News Links, May 29, 2012

## Global Ponzi meltdown/House of Cards ##
Spain Bails Out Its Third-Largest Bank
Spanish debt costs spiral as crisis deepens
Spanish 10-Year Bond Yield Hits 6.5%, Spread to Germany Hits Record; Prime Minister Repeats Lie "Spain Does Not Need Bailout"; Backdoor Bailout or Ponzi Scheme? More Questions Than Answers
Spain May Use Its Debt Instead of Cash for Bankia Group
Spanish-German Yield Spread Widens to Euro Record on Bank Funds
25 Signs That The Smart Money Has Completely Written Off Southern Europe
Canada's demographic 'golden age' coming to an end
Spain's homeless squat in empty apartments
Nine killed in Zambia job-search stampede
"Nine people were killed in a stampede in Zambia on Monday when about 5,000 job seekers stormed a fishing company to apply for a handful of part-time posts, a government official said."
Bhutan charms, but "Shangri-La" is no paradise

## Airline Death Spiral ##
US senator asks airlines to drop seat fee for kids
Merpati to close down one-fifth of its routes
"Ailing state-owned PT Merpati Nusantara Airlines (Merpati) plans to close down 20 percent of its existing routes immediately in order to reduce the firm's losses, an executive has said."
Panel to rationalise Air India's loss-making routes

## Fault lines/flashpoints/powder kegs/military/war drums ##
Allies quit government as Nepal crisis deepens
Iran Looks to Reduce Reliance on the Straits of Hormuz with new Oil Terminal
Syria plunges towards civil war after Houla massacre
Politics, Gangs, and Big Oil Spell Disaster in the Niger Delta

## Global unrest/mob rule/angry people/torches and pitchforks ##
Tibet capital sees first anti-China self-immolations: report
Morocco protests fill Casablanca streets
Excessive power cuts spark protests again (Pakistan)
"Over in Faisalabad, protesters turned violent and burnt tyres to block roads, besides pelting stones on vehicles. Factory workers in Ghulam Muhammadabad also protested against power outages and threatened to lay siege to FESCO offices if a schedule of load shedding was not announced."

## Energy/resources ##
Jordanian fuel price rises stun companies
"Industrial companies in Jordan have warned they risk being pushed to the wall by a rise in prices of fuel and electricity as the government seeks to stave off a fiscal crisis."
Pakistan's power crisis may eclipse terrorist threat
Acute diesel, petrol shortage grips Chennai
City on empty tank, motorists fight over every drop
Karachi Blackouts Worsen With Power Ship Idle in Harbor
Japan to provide emergency turbines for Burma blackout
Bahrain plans $79m spend to avert power cuts
"Bahrain is set to spend BD30 million ($79.6 million) this summer to minimise power cuts across the country, said Energy Minister Dr Abdulhussain Mirza."
Gurgaon plunges into darkness, no relief in sight (India)
"Gurgaon residents are spending sleepless nights with power cuts stretching up to 10-12 hours in the city over the past few days. Unusually long hours of loadshedding have rendered inverters useless and even diesel gensets installed by high rise condominiums in the city have proved to be of little use, with many of them developing technical snags frequently."
Western oil firms pay Kazakhstan's oil field investment bill
"Western energy companies developing a giant oil field in the Kazakh sector of the Caspian Sea have agreed to pay a £628 million investment that Kazakhstan needs to make into the project."
Of course it's Kashagan! -- RF
Global Scarcity: Scramble for Dwindling Natural Resources

## Got food? ##
Syria's shortage of grain imports may lead to bread crisis
Wheat Falls in Paris as Rains Seen Boosting Europe Crops
Marubeni nears deal to buy U.S. grain merchant Gavilon
On Dust-Bowlification and the grave threat it poses to food security

## Intelligence/security/internet ##
Fidel Castro, spy master, bedeviled U.S., says former analyst
"For almost three decades after Fidel Castro took power, Cuba's budding intelligence service fielded four dozen double agents in a world-class operation under the nose of the CIA, according to a new book by a veteran CIA analyst."
Flame: Massive cyber-attack discovered, researchers say
Face-reading software to judge the mood of the masses
Drones Pose a Threat to Americans' Privacy (Cato Institute)

## Japan ##
Fukushima farmers decontaminate soil, plant rice, praying for radiation-free harvest
Japan's Kansai Elec halts oil-fired unit after problem
A New Era for Bankruptcy in Japan
Kansai Electric urges Noda to OK restart of Oi reactors
Japan Oil Firms To Continue Imports From Iran: Industry Chief
"The oil industry will work with the government to ensure Iranian oil imports continue flowing smoothly into Japan despite sanctions against the country by the U.S. and Europe, the new head of the Petroleum Association of Japan told a Monday news conference."
If you listen closely, you can hear more heads exploding in Washington. -- RF
Tokyo government offers assistance for purchase of storage batteries
"In a move to counter expected power shortages in this summer, the Tokyo Metropolitan Government has begun a program offering 100,000 yen in assistance to households buying storage batteries."

## China ##
Hong Kong Fashion Chain I.T Sees "A General Slowdown" in China's Consumer Spending
Monday Market Monitor - China - WEEK 21 - Rot deepens
China to start Crude Oil Futures this year
China Poised to Revive Cash-for-Clunkers Program, Official Says

## UK ##
Petrol costs end Britain's love affair with the car

## US ##
As An Encore to Bailing Out the Big Banks, Government to Backstop Derivativees Clearinghouses … In the U.S. and Abroad
Now the rich are tightening belts
"The U.S. luxury sector, a bright spot in retailing for the past two years, is struggling to maintain momentum as shock waves from Europe's sovereign debt crisis spread across the Atlantic."
150 square-foot mail-order home (CNN Money video)

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