Sunday, June 17, 2012


News Links, June 17, 2012

## Global Ponzi meltdown/House of Cards ##
New Egyptian crisis threatens currency, finances
Germany's Merkel urges Greek commitment to austerity
European finance intervention in the works
"European financial leaders Saturday said they were working to break the co-dependent cycle between the region's banks and their governments."
O'Neill's BRICs Risk Hitting Wall Threatening G-20 Growth
IMF Pressures Spain to Lower Salaries, Raise the VAT, Eliminate Housing Deduction
Moody's downgrades Nokia debt grade to junk status
World's Richest Gain $16 Billion as Global Markets Rise
How much did the world's poorest gain? -- RF
Europe Will Splinter Regardless of Greek Election Outcome; "France Has At Most Three Months Before Markets Make Their Mark" says German Official

## Airline Death Spiral ##
Jet to suspend second int'l flight, this time to New York
"Jet Airways has decided to suspend its Brussels-New York flight, its second international route suspension within a month. The decision has been taken after five successive loss-making quarters putting a strain on its finances. The New York flight would be suspended from September 10, but the airline would continue with its Chennai-Brussels flight."
Air Canada up green cred with cooking oil fuel, lighter trays and iPads
Airline industry faces grim year as gulf carriers take over the world

## Fault lines/flashpoints/powder kegs/military/war drums ##
Saudi Crown Prince Who Led Anti-Terrorism Efforts Dies
U.N. suspends Syria monitoring as violence rages
US Military Planning 'Completed' for Syria Attack
Black Sea Fleet ships ready to go to Syrian coast – General Staff
"A number of warships of the Russian Black Sea Fleet are prepared to go to Syria, the Russian General Staff told Itar-Tass on Friday."
Egypt returns to polls as military cements its control
ElBaradei predicts Shafiq Egypt's "new emperor"
PACOM boss: Plenty of ocean for everybody
"Adm. Samuel Locklear, the head of Pacific Command, told reporters Friday that if every nation tried to be as restrictive in its claims to the ocean as is China — and others, he was careful to add — there wouldn't be much water left open to everyone else."
Attacks on Pilgrims, Security Forces Leave 51 Killed, 154 Wounded in Iraq

## Global unrest/mob rule/angry people/torches and pitchforks ##
Greek steelworks strikers still holding out after 228 days
Natives occupy Amazon dam construction site (Brazil)
400 protest Oi nuke reactor restarts at prime minister's office (Japan)
At least 17 dead as landless peasants clash with Paraguayan police
Striking miners fearing austerity measures in violent clash with police (Spain)
Violence shuts 300 Bangladesh garment factories
In Cambodia, growing social unrest over forced evictions

## Energy/resources ##
James Lovelock Says We Should Be Fracking For Gas
Water scarcity threatens power supply (Malaysia)
South Africa may declare thermal coal as strategic resource
Gas Shortage May Lead to Blackouts in Jakarta
Energy shortage hits SAARC countries except Sri Lanka
"All countries in the SAARC region except Sri Lanka suffer from massive energy shortages which hamper their drive towards reaching economic development goals. One-third of the global population without access to electricity supply are from South Asia which is the poorest region in the world, World Bank Chief Economist for South Asia Kalpana Kochhar said last week."

## Infrastructure scavenging ##
Manhole Covers: A New Attraction for Thieves

## Got food? ##
Monsanto Corn Injured by Early Rootworm Feeding in Illinois
"Monsanto Co. (MON) corn has been overwhelmed in parts of Illinois by rootworms that hatched a month early, renewing concern that the bugs are becoming immune to the insecticide engineered into the crop.
"An 'amazing' number of rootworms have emerged as adult beetles, the earliest start in at least 30 years, Michael Gray, an entomologist at the University of Illinois at Urbana, said today in an online journal. The insects 'severely pruned' the roots of corn observed June 7 at a farm in Cass County, about 200 miles (322 kilometers) southwest of Chicago."

## Environment/health ##
Study Finds Higher Earthquake Risk from Wastewater Injecting than Fracking

## Intelligence/security/internet ##
Ottawa airport wired with microphones as Border Services prepares to record travellers' conversations
Two Lebanese government websites hacked

## Systemic breakdown ##
Bullet-proof car boom as Mexico drug gangs fight (BBC video)
Greeks Take Over Reporting As Newspapers Go Under
Space debris starting to clog up exploration programs

## Japan ##
Renesas reaches for scalpel / Chipmaker to close half of domestic plants, cut 30% of workforce
Reactors at Oi plant to be reactivated
Japan's LNG, oil demand to remain strong after reactor restarts
Lower house passes bill to insure Iran oil imports
Record high number of work-related mental illnesses reported in 2011

## China ##
Pension proposal raises debate in China
Beijing on alert for possible Greek eurozone exit

## UK ##
North Korea or Bangor? City centre curfew on all under-16s
"All children under 16 have been banned from a city centre at night after claims that adults have been feeling intimidated."
£1billion deal paves the way for Trident nuclear deterrent replacement
Subsidies for onshore wind farms 'to be axed by 2020'

## US ##
Will 'Junk' Munis Bite Back?
Moody's Lowers California Redevelopment Bonds to Junk
596 Million Detroit Water And Sewer Muni Deal Postponed
Foreign holdings of US debt hit record high
U.S. 10-Year Yield Falls Almost to Record on Haven Demand
California Budget Heads Toward Deal as Deadline Looms
How Dewey & LeBoeuf Became the Biggest Law Firm Bankruptcy Ever

And finally… Man shoots himself in organ on way to work

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