Wednesday, May 02, 2012


News Links, May 3, 2012

## Global Ponzi meltdown/House of Cards ##
Italy's unemployment rate hits a 12-year high in March
Euro zone manufacturing downturn deepens in April: PMI
"The euro zone's manufacturing sector slipped further into decline last month as a downturn that started in the periphery appears to be taking root among core members France and Germany, a survey showed on Wednesday."
European Unemployment Rate Rises to Highest in Almost 15 Years
German Jobless Unexpectedly Up in April as Crisis Flared
This Is the First Time In History that All Central Banks Have Printed Money at the Same Time … And They're Failing Miserably
Australia house prices fall for fifth quarter, rate cut looms

## Airline Death Spiral ##
Spirit to charge passengers $100 for carry-on baggage
Lufthansa Loss Widens on Slowing European Economy, Fuel
Asian airlines post 47 percent fall in 2011 profit
Iata: Oil prices hit airlines hard

## Fault lines/flashpoints/powder kegs/military/war drums ##
Unknown attackers kill six at Cairo protest
Obama in Afghanistan: Defeat of al-Qaeda is withing reach
Politicians are so full of BS that they stink even over the internet. -- RF
Explosions, shooting heard in Afghan capital
"A suicide car bomber and Taliban militants disguised in burqas attacked a compound housing hundreds of foreigners in the Afghan capital on Wednesday, officials and witnesses said. The Taliban said the attack was a response toPresident Obama's surprise visit just hours earlier."
Nigeria's graveyard of ships (gallery)
Israel To Receive Fourth Dolphin Sub

## Global unrest/mob rule/angry people/torches and pitchforks ##
In pictures: Occupy Wall Street protests

## Energy/resources ##
New attack on electricity lines in Yemen
"Ever since last year's uprising Yemen has been plagued by attacks against its electricity network, leading to lengthy blackout and severe  disruption within its industries, as companies have had to rely on alternative means to power-up their factories or businesses, hence pushing up costs."
Test successfully pulls natural gas from Alaskan ice
"Harvesting methane hydrates remains in the research phase, though, and much more needs to be worked out before it's clear whether the process is economically feasible."
Bolivia nationalises Spanish-owned power grid
"Bolivian troops occupy installations owned by Red Eléctrica, following Argentina's move to nationalise oil company"
Indonesia plans upto 50% export tax on Copper, Gold, Silver ores
Oil and gas industry facing manpower shortage

## Got food? ##
Iraq's sagging safety net
"In a country with huge potential oil wealth, food rationing and distribution is keeping much of the population alive."

## Environment/health ##
U.K. doctors back 'lifestyle rationing'
"A majority of doctors support measures to deny treatment to smokers and the obese, according to a survey that has sparked a row over the NHS's growing use of 'lifestyle rationing"."

## Intelligence/security/internet/systemic breakdown ##
Attack on Iran's Oil Industry Ups Cyber Warfare Stakes
NYTimes Realizes That The FBI Keeps Celebrating Breaking Up Its Own Terrorist Plots

## Japan ##
Japan could face "day of reckoning" if tax plans fail: Moody's
"Japan could face 'the day of reckoning' sooner than expected if the government fails to raise the sales tax and investors demand higher returns on government bonds, Moody's Investors Service said on Wednesday, keeping up the pressure on Tokyo to enact tax reform bills."
Power Shortages Expected in Japan
"The Japanese government expects potential electricity shortages in Tokyo as well as in the Kansai and Kyushu regions this summer as the country debates whether it can make it through the peak demand season without nuclear power for the first time since 1965."
New Estimate Sees 15% Summer Supply Shortage At Kansai Elec
Tokyo raises Y76 mil in donations to buy disputed islands
Over 25% of Japanese in their 20s have considered suicide

## China ##
China Manufacturing "Expands" at Faster Pace; China Manufacturing "Contracts" 6th Consecutive Month; Confused by Conflicting Headlines? (Mish)
China's Looming Conflict Between Energy and Water
"In its quest to find new sources of energy, China is increasingly looking to its western provinces. But the nation's push to develop fossil fuel and alternative sources has so far ignored a basic fact — western China simply lacks the water resources needed to support major new energy development."
Chinese Steel industry suffers quarterly loss first time in 10 years
Chanos: Beware of China's 'epic' property bubble

## UK ##
Rise in level of poverty among working households in NI
Argos and Homebase owner sees sharp fall in profits
"Annual profits at Home Retail Group (HRG) have dropped more than 60% after profits at its Argos chain were hit by weak demand for electrical goods."
Households may be forced to get water from standpipes in streets, warns minister
"Households may be forced to get their water from standpipes in the street if England endures another dry winter, Caroline Spelman, the Environment Secretary, has warned."

## US ##
No-Fly Zone To Be Enforced By Shoot-To-Kill Order During NATO Summit
Wealthy Americans Queue to Give Up Passports in Swiss Capital
San Antonio hit with Stage Two water rationing
Private-sector hiring slows in April, stirs concern
"U.S. companies hired the fewest people in seven months in April, a worrisome sign for a labor market that has struggled to gain traction and adding to concerns that the economy has lost some momentum."
Baby Boomers' Money Troubles: They're Worse Than We Thought

And finally… One in seven thinks end of world is coming: poll

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