Tuesday, May 08, 2012

 

News Links, May 9, 2012

## Global Ponzi meltdown/House of Cards ##
Turkey Exports "Massive Quantities Of Gold" to Iran and Arab Spring Countries
"Iranians and Arab Spring countries are buying 'massive quantities of gold' in order to protect their wealth from political instability and depreciating currencies."
Spain moves reluctantly to save major bank
"Spain will swoop in with public money this week to clean up huge bad loans at the nation's fourth-biggest listed bank, Bankia, the government said Monday."
Dow Sinks a Fifth Day in Row
Eurozone at risk from anti-austerity revolt

## Airline Death Spiral ##
Has the airport experience become horrible?
Hainan Airlines' 1Q net profit dips 35.7%
Carry-on Fee At Spirit Airlines Jumps to $100
Fuel Prices Impact Europe's Airlines
Oil Prices Ease, But Airlines Still Worried
Unlimited Travel: Deals Too Costly for Airlines?
Aircraft and transport: Cimber Sterling files for bankruptcy

## Fault lines/flashpoints/powder kegs/military/war drums ##
U.S. working with India on Iran oil replacements: Clinton
China prepared for escalation of tensions at Scarborough Shoal
Iran accepts Yuan for Oil trade with China, threatens US Dollar
"Earlier, India and Iran had agreed on a deal whereby India would pay about 40% of its oil imports in the for of Indian Rupee and Iran could use the currency to purchase goods and services from India.
"And now with China joining India in a similar deal with Iran, it has to be seen if other countries over the world follow suit."
Several killed in shooting near Libyan PM's compound
Afghan opium price hike to stir violence: minister
Cutting-edge navy vessels deploy to Singapore
C-130, Tanks Among Other Targets in Australia Budget Cuts
"Key U.S. ally Australia slashed Aus$5.5 billion ($5.57 billion) from its defense budget May 8 as part of sweeping cuts by deferring or scrapping jet and weapons deliveries and by sacking 1,000 staff."

## Global unrest/mob rule/angry people/torches and pitchforks ##
Police break up all-night anti-Putin protest

## Energy/resources ##
Japan to seek stable oil supply from Saudi Arabia
An Economic Analysis of Fracking
New IMF Working Paper Models Impact of Oil Limits on the Economy
Shale Gas: The View from Russia
A good read and enlightening perspective on shale gas. -- RF
Massive load shedding brings life to a standstill (Pakistan)
Reserve power offered to Mindanao, but cost turns off users (Philippines)
Assam faces huge power crisis (India)
Diesel shortage hits Chennai (India)
"The city appears to be going from a bad summer to a worse summer as diesel shortage adds to the woes of homes and offices reeling under power outage."

## Got food? ##
Green shoots: The shocking hike in China's cabbage prices

## Environment/health ##
Asian tiger shrimp invade U.S. waters
2 Years Later, Grim Photos From the BP Disaster
Report: Pacific Ocean Has 100 Times More Plastic Particles In It Than '70s

## Intelligence/security/internet/systemic breakdown ##
Natural gas pipelines under cyber attack since December (US)

## Japan ##
Toshiba net profit drops 46.5%
IHI's group net profit falls 20% in fiscal 2011
"Major Japanese heavy machinery maker IHI Corp. said Tuesday its group net profit in fiscal 2011 fell 20.0 percent from the previous year to 23.82 billion yen due to a 29.4 percent drop in operating profit and tax adjustments."
Fuji Heavy logs 23.6% fall in group net profit on strong yen
Edano says electricity supply this summer 'quite severe'
"Japanese industry minister Yukio Edano said Tuesday he wants to avoid the government issuing an order to restrict electricity usage this summer, but that the nation's current situation, now without nuclear power, is 'quite severe.'"
Firms, residents prepare for power outages / Plans being studied; frustration growing over lack of clear predictions on expected shortages
Nissan's Ghosn Worried About Power. The Power Of The Yen
Ministry seeks up to 20% reduction in electricity in Kansai
"The industry ministry will ask households and companies in Kansai to reduce electricity usage by 15 to 20 percent in the summer to prevent power shortages in the vulnerable region, sources said."
S Korea, Japan step up talks on military accord
As I've noted before, it takes a lot to throw the Koreans and Japanese into each other's arms. -- RF

## China ##
Chinese steel market slide might coerce state into subjugation
China expels Al Jazeera correspondent; news channel closes its English bureau in Beijing
"Al Jazeera's English-language channel was forced Tuesday to shutter its bureau in China after authorities here declined to renew credentials for a journalist with a reputation for hard-hitting journalism."
Chinese Architect Comments on "Dark Apartments", Vacancies, Residential Malinvestment

## UK ##
Environment Agency head Lord Smith supports fracking expansion

## US ##
Bill Would Have Businesses Foot Cost Of Cyberwar
Army Plan To Shut Only Tank Plant Faces Fierce Resistance
'Pink Slime' Factories Brace Permanent Shutdown, BPI Slashes 650 Jobs
Mich. legalizes Tasers with concealed-carry permit, training
McDonald's April U.S. sales miss estimates
License Plate Tracking Spreads beyond Criminal Suspects
"From Tennessee to the District of Columbia, police are using mobile and stationary surveillance cameras to collect and store license plates of residents who have committed no crime—so that they can be found if they ever do."
John Williams: The Real Unemployment Rate: 22%−Not 8.1%
Is California the Bow of the Titanic?
Power restored after brief outage in Boston; problem was in same substation that caused March Back Bay blackout
Power outage at Heritage Tower disrupts cell phone service
Visalia power outage closes government offices




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