Saturday, June 09, 2012


News Links, June 10, 2012

## Global Ponzi meltdown/House of Cards ##
Moody's: Greek euro exit threatens currency's existence
Bank of France Sees GDP Contraction
Eurozone ministers 'to discuss Spain bank bailout'
IMF: 40 Billion Euros Needed To Fix Spain's Banks
Spain Requests EU Aid for Banks
The Young And The Jobless: Hopes On Hold In Spain
Obama Urges Europe to Act Swiftly to Prevent Economic Collapse
Major steel output changes in EU, Africa, Mideast
"European steelmakers have announced output cuts due to weaker demand and said more furnaces could be idled. Some have announced restarts and even expansions, but curtailments are more likely as consumers prefer to run down their stocks in an uncertain economic environment."
Steel market recovery unlikely in 2012 - POSCO executive
Global Steel mills struggle to lift prices amidst weak demand
"Dark clouds are hanging over global steel industry as prices continue to weaken on uncertainties in Eurozone debt crisis, US recovery trends and slowdown in emerging markets of China and India."
Egypt to get $430 million in aid from Saudi Arabia

## Airline Death Spiral ##
Airlines face sting in the tail from cheaper oil
"'The reduction in fuel prices is a great thing for the airline industry but they are coming down because of concerns over world economic activity,' said Tony Tyler, director general of the International Air Transport Association (IATA).
"'If the world enters an economic slump, that will be even worse for the industry than the higher fuel price was on its own,' said Tyler as heads of most of the world's airlines flew into Beijing for a three-day annual meeting starting on Sunday."

## Fault lines/flashpoints/powder kegs/military/war drums ##
Obama Endorses Another Escalation of CIA Drone Strikes in Pakistan
Lockheed wins $2 billion U.S. missile interceptor deal
"The Pentagon's Missile Defense Agency said it would combine the order for a third and fourth batch of THAAD interceptor missiles with an order by the Persian Gulf state of UAE which is buying 96 THAAD interceptors to generate cost savings."
Islamic Militants Bloody US Forces In Big Army Wargame
Bombs target Iraq oil pipelines, exports not hit
Noda's restart call draws anti-nuclear activists' ire (Japan)
White phosphorus: The new napalm?

## Global unrest/mob rule/angry people/torches and pitchforks ##
Quebec student protests: Montreal's Crescent Street becomes fault line in battle over Grand Prix
Drug stores close doors in Spanish protest

## Energy/resources ##
A Major Uranium Supply Gap Is Looming
Solar Industry Has One Year of Inventory, French Lobby Says
"Makers of solar panels and cells have inventory representing about a year of sales, meaning that the industry will see further bankruptcies and consolidation, the head of France's Renewable Energy Association said."
Thai govt to boost oil reserves to 90 days-minister
Blackouts return (Egypt)
Water shortage intensifies in Capital (Pakistan)
3-hour brownouts hit part of Metro Manila
Sustainable Woodlot Management for Home Heating

## Environment/health ##
Arctic marine plants are in massive bloom, startling scientists
"The discovery of an 'enormous, off-the-charts' bloom of microscopic marine plants in the Arctic has floored scientists."
50 cancers added to list covered by Sept. 11 fund
Edinburgh Legionnaires' outbreak: new total of 80 cases
Kingdom Tower will be global tourism hit - officials (KSA)

## Intelligence/security/internet ##
Gmail outage likely hit several million on Thursday
Hacking group Anonymous takes on India internet 'censorship'
Overseas forgers' fake IDs can fool even the experts
Obama's data advantage

## Systemic breakdown ##
'Zombie' attacks continue? Carl Jacquneaux bites off chunk of man's face in Louisiana
Bankrupt Alabama county's computers fail
Congress isn't just stalemated, it's broken, experts say

## Japan ##
Japan Confronts Fiscal Reality: Consumption Tax Hike Agreed
Japanese refineries not change importing volume of Iranian oil for July
18% Of Fukushima Evacuees Might Be Unable To Go Home Even After 10 Yrs
Foreign residents decline a third year, by 56,000
Renesas to cut monthly wage by 7.5%
"Struggling semiconductor maker Renesas Electronics Corp. said Saturday it will cut its employees' monthly wage by 7.5 percent for nine months through next March and forgo payment of winter bonuses."

## China ##
China Weekend Economic Data: Weaker Industrial Production, Retail, and CPI
China's economy continues to cool off
China's Slowing Inflation, Output Growth Add Stimulus Pressure
Metal Piles at China Ports Signal Growth Sputter

## UK ##
Value of a degree 'cut by a fifth' after tuition fees hike
"The value of a degree is set to fall by up to a fifth as a sharp rise in tuition fees eats into graduates' future earnings, according to research."
Little Britain: why the UK is no longer a superpower
George Osborne: eurozone crisis killing UK recovery

## US ##
Space scientists hold bake sales to highlight NASA cuts
The U.S. Economy By The Numbers: 70 Facts That Barack Obama Does Not Want You To See
Mayor says lawsuit could bankrupt Detroit
Forest lands in the East attract oil and gas bidders, but some question rush
Will 2012 begin the unclogging of 6,000,000 distressed properties?
Farmers and Traders, Waccamaw banks fail (28 failures for the year)
Pentagon Stops Helping Militarize Police for Now, Demands Papers, Please

And finally‚Ķ Man accused of wheelchair drunken driving

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