Saturday, May 05, 2012


News Links, May 5, 2012

## Global Ponzi meltdown/House of Cards ##
Data Deepen Euro-Zone Gloom
Spotlight Australia: Collapse in Service Sector; Unrelenting Discount Wars; Catastrophic Decline in Profits; Stranded Merchandise in Warehouses (Mish)
Australia Heading for 'Mother of All Hard Landings': Pros
Indonesia Chases China As Middle-Class Consumption Soars
India central bank may bring back 265 tonnes of Gold stored abroad
"After Venezuela's scramble to bring back its gold reserves back into the country, sentiments in India have also been bubbling over the issue. In fact, a new litigation has been filed with the Bombay High Court in India questioning why the Reserve Bank of India (RBI) is holding 265 tonnes of gold with the Bank of England."
Brazil battles soaring import bill
"Brazil's import bill is eating into its trade surplus as the Latin American giant sees its overvalued currency discouraging exports of its own goods."
Greek businesses flee to Bulgaria
Rising resource nationalism is bullish for Gold: HSBC

## Airline Death Spiral ##
Air France-KLM's Fuel Bill to Weigh on Results
UKBA accused of covering up airport delays
Profit Plummets for Asia Pacific Air Freight Carriers
Higher fares and more mergers for airline industry, say experts

## Fault lines/flashpoints/powder kegs/military/war drums ##
U.S. doesn't expect Pakistan to reopen Afghan war supply routes soon
Sudans on brink of all-out war over oil
Loophole in US Sanctions Allows China to Trade Gold for Iranian Oil
Zhuhai Zhenrong Books May Fuel-Oil Shipment From Iran
"Zhuhai Zhenrong Co., the Chinese company censured by the U.S. in January for trading with Iran, provisionally hired an oil tanker to carry fuel oil from the Persian Gulf nation, shipping data showed."
India insurance companies to give $50 million cover for Iran oil buy - Executive
Nine bodies hung from bridge in northern Mexico
"Nine bodies, some bound and blindfolded, were found hanging from a bridge over a highway in northeastern Mexico early on Friday, in an escalation of brutal attacks right on the U.S. border where rival drug gangs are fighting for control."
Pentagon cites climate, energy concerns
"The quest for energy is another area, [Panetta] said, that continues to shape and reshape the strategic environment, 'from the destabilizing consequences of resource competition to the efforts of potential adversaries to block the free flow of energy.'"
Netanyahu OKs key defenses for gas fields
"Israeli Prime Minister Binyamin Netanyahu has approved a special budget to fortify and protect Israel's rich natural gas fields in the eastern Mediterranean."
U.S. Doubles Military Aid to Philippines

## Global unrest/mob rule/angry people/torches and pitchforks ##
Water cannons used on Egyptian protesters
Army imposes curfew in Cairo district after clashes
"Egypt's army imposed an overnight curfew around the defence ministry in Cairo on Friday after protesters clashed with troops there during demonstrations against military rule and the exclusion of candidates from the presidential election."

## Energy/resources ##
Ontario electricity rates going up
Oil Falls to Lowest Since February Before U.S. Jobs Data
California reported the most power blackouts in 2011
Mozambique seeks nearly 400,000 tonnes gasoil and jet
"Mozambique is seeking nearly 400,000 tonnes of middle distillates, which include gasoil and jet fuel, in the spot market due to an electricity shortage, traders said on Friday."

## Got food? ##
Obama invites African leaders to G8 food security talks
Global livestock feed demand to raise Corn prices
Global Wheat prices rise on production cut
"Persisting bad weather conditions in major growing areas especially in Europe and in Kansas has been the reason to cut the production forecast for 2012-13."
Human Genes In Rice: Opening up Pandora's Pot?

## Intelligence/security/internet/systemic breakdown ##
How to Muddy Your Tracks on the Internet

## Japan ##
Japan switches off last nuclear power plant; will it cope?
Osaka local authorities seek stable electricity supply
Anti-nuclear activists stage hunger strike in front of Japan's Economy, Trade and Industry Ministry
Under-15 population declines for 31st straight year
83% of young people have job anxieties / More youth pessimistic about future

## UK ##
Lights could go out across UK by 2030, warns power supply report

## US ##
Payroll Disaster: Nonfarm Payroll +115,000 Establishment Survey But -169,000 Household Survey, Labor Force Drops by 342,000 (Mish)
S&P 500 Caps Worst Week in '12 on Disappointing Jobs Data
Drones patrolling Washington state border
Falling natural gas prices hit states' pocketbooks
"Energy-producing states are bracing for lower tax revenue from the plummeting price of natural gas, which is just above half of what some states forecast when they put together budgets for 2013 and beyond."
Whoops! Cheap natural gas wasn't such a good thing, after all. Hydrofracturing operators are losing money, and lower-than-expected tax revenues are pummeling already cash-strapped states. -- RF
Postal closures likely to start this summer
Retirement, Slipping Farther and Farther Away
Finance Sector Gained Only 1K Jobs In April
"The finance sector added just 1,000 jobs last month, a heavy setback from March's gain of 15,000 jobs, according to the Bureau of Labor Statistics."

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