Friday, June 15, 2012


News Links, June 15, 2012

## Global Ponzi meltdown/House of Cards ##
Spain's borrowing costs at fresh high after Moody's cut
Spanish 10-Year Bond Yield Hits 6.96%, a New Euro-Era High; 2-Year Bond Yield Hits 5.19%
World Bank warns Mena growth will drop by half
Central banks ready to combat Greek market storm
Egan-Jones' downgrade du jour: France
Bad Debts Weigh on Vietnam
Cyprus: 'We need a bailout'
Just What Is Mario Draghi Hiding? ECB Declines To Respond To Bloomberg FOIA Request On Greek-Goldman Swaps
Europe crisis worries Big 3; car sales could suffer
Nokia to cut 10,000 jobs after weak second quarter
Steel scrap prices crash by USD 100 per tonne within a fortnight
Bank Warns of Major Canada Shock If Europe Crisis Worsens
Greece could exit euro zone in weeks: experts

## Airline Death Spiral ##
Fuel Costs End 23-Year Reign of Boeing 747-400
Kenya Airways Annual Profit Halved by High Fuel Prices
Europe's Budget Airlines Tighten Grip

## Fault lines/flashpoints/powder kegs/military/war drums ##
Japan to pass bill to insure Iran oil imports
"Japan's lower house is set to pass a bill on Friday to provide government guarantees on insurance for Iranian crude cargoes, making it the first of Iran's big Asian buyers to find a way to keep the oil flowing in the face of tough new EU sanctions."
Hugo Chavez announces Venezuela making drones and Kalashnikov rifles
Report: US expands secret 'shadow war' in Africa
Israel may use military force 'to secure' Syria's alleged chemical arsenal
Black Hills helps soldiers prep for urban warfare
Joint naval exercise to be held by Japan, United States, South Korea
It starts: the government's plan to steal your money.
Egypt Supreme Court Dissolves Parliament, Blesses Shafiq Candidacy
"Junta Reimposes Martial Law, Weekend Vote in Doubt"

## Global unrest/mob rule/angry people/torches and pitchforks ##
Riots in Indonesia's Papua after independence activist killed

## Energy/resources ##
Canada in danger of booming tar sands backlash
"Experts warn that Alberta's success story could unravel in face of falling oil prices as investors weigh up whether to pull the plug on lucrative projects"
Why We Need Expensive Oil
Head in the sand, OPEC sees no oil shale threat
Power shortage hits Puerto Princesa, threatens city growth (Philippines)
"The current power suppliers of Paleco, that generates a combined 35.7 megawatts of peak power, have been suffering from breakdowns of diesel-fired engines resulting in repeated brownouts."
Coal Wins Again: Global Energy Use by Source, from the 2012 BP Statistical Review
Japan to give $20 million to help Myanmar tackle power shortages
"Japan's aid is to be used for buying 16 diesel generators and fuel to help Myanmar deal with insufficient electricity supplies, Kyodo News reported."
Global nuclear energy output falls 4.3% in 2011
Is Oil Refining a Zombie Industry?

## Got food? ##
India Raises Purchase Price of Summer Crops
Mozambique Farmland Is Prize In Land Grab Fever

## Environment/health ##
Shale Gas Casing and Cementation Will Fail, but When?
Renewable Energy Sees a Record $257 Billion of Investment in 2011
Maine study finds potentially disastrous threat to single-celled plants that support all life
RIO+20: In South Asia, it is survival that counts ... not the environment

## Intelligence/security/internet ##
U.S. expands secret intelligence operations in Africa

## Systemic breakdown ##
Greek health system crumbles under weight of crisis
"Greece's rundown state hospitals are cutting off vital drugs, limiting non-urgent operations and rationing even basic medical materials for exhausted doctors as a combination of economic crisis and political stalemate strangle health funding."
Cancer drug shortages 'a total nightmare' (US)
Europe's dire defense industrial straits

## Japan ##
Japan draws up plans to protect economy if Greek elections cause eurozone turmoil
Oi mayor gives OK to restart 2 nuclear reactors
LNG-fired thermal power jumps to 39.5%
Japan's Renesas set to receive $630 million in loans: report
US to beef up Marine presence on Okinawa before drawdown

## China ##
Nanjing air like smoking 15 packs of cigarettes, say experts

## UK ##
May setting out plans to monitor internet use in the UK
450 Unilever jobs at risk in Flintshire, Swansea and Bridgend
Bank of England Pledges Huge Liquidity Facility

## US ##
Foreclosure activity jumps in troubling sign for housing recovery
Have $235,000? That's What It Costs To Raise A Kid Today-Before College
IRS Withholds Foreign Investor's Tax-Free Income at 30%
Unemployment Aid Applications Rise to 386,000

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