Sunday, June 17, 2012


News Links, June 18, 2012

## Global Ponzi meltdown/House of Cards ##
Greece Races as Cash Dwindles With Europe Seeking Return to Cuts
"Greece's two traditional political rivals are in a race to forge an unprecedented coalition as the state's cash dwindles, bank deposits flee and Europe demands renewed austerity pledges before releasing more emergency aid."
New Democracy Leader "Will Honour Commitments to the EU; Euro Trades Higher; Coalition Review
New index shows lower growth for major economies
As Greek Banks Run Out Of Safe Deposit Boxes, An Eerie Calm Takes Over The Country 24 Hours Before D-Day
Euro bailout firewall not big enough
Why the young should welcome austerity (Niall Ferguson)
Mexico's 'maquiladora' labor system keeps workers in poverty
Finance Minister Wants India To Get Over Its Gold Bug
Indian PM sees Eurozone crisis hitting India further
Steel billet prices slide to 30 month low
G20 summit: politicians solve eurozone debt crisis in luxury

## Airline Death Spiral ##
Jade Cargo folds amid Asian cargo slump
Problems in Air Cargo Contrast with Those of Container Freight
Munich residents vote against new airport runway
"Munich residents voted against development of a third runway at Germany's second-biggest airport, dealing to another blow to airlines clamoring for growth in Europe's biggest economy."
Losses at troubled Air Malawi not sustainable
Singapore Girl no longer rules alone

## Fault lines/flashpoints/powder kegs/military/war drums ##
Drones, computers new weapons of U.S. shadow wars
U.S. may have less Mideast clout, uses it with care
Army sent to quell clashes in western Libya
Saudi wants to buy more tanks from Germany: paper
"Saudi Arabia wants to buy 600 to 800 Leopard battle tanks from Germany, at least twice the number previously expected, a German newspaper reported on Sunday."
Salman likely to be new Saudi heir as Nayef buried
Attack at US base in Afghanistan worse than initially disclosed
UK ships may fire on pirates
"Armed guards on ships in the Indian Ocean have permission to fire first to fend off Somali pirates, under new guidance issued to UK-flagged ships."
Israel launches African migrant deportation drive
U.S. drones deeply unpopular around the world

## Global unrest/mob rule/angry people/torches and pitchforks ##
Sudan police disperse student protest with teargas
"Sudanese riot police on Sunday used tear gas and batons to disperse a student protest in Khartoum against the government and high prices, witnesses said."
More Than 5,000 Rally Against Deployment Of Ospreys In Okinawa
Power-starved people stages protests across country (Pakistan)
Silent march turns chaotic as police try to divide the crowd (New York)

## Energy/resources ##
Current oil production and the future of Ghawar (The Oil Drum)
Hot weather, closure of San Onofre nuclear plant could pinch power supplies (California)
India was most power-less in April-May
"India suffered peak power shortage of close to 13,000 million units in April and May, as the thermal power plants struggled to maintain fuel stocks at a reasonable level."
No timeline for restart of Texas refinery unit-Motiva
World Solar Power Goes Parabolic
"It is not a mistake that global solar capacity has begun a parabolic move. While many will conclude that demand is the main driver of this growth—and that is not incorrect—it is actually the increasing difficulty and complexity of other power generation construction which is now casting off advantages, to solar power."

## Got food? ##
China makes biggest U.S. SRW wheat buy since 2004

## Intelligence/security/internet ##
Fixing BYU's massive data crash will take months
"Some long-term effects of a major BYU computer system meltdown are still unknown after more than two weeks of around-the-clock work to repair damage from a failed software upgrade."
Amazon Web Services Hit By Power Outage
How Flame virus has changed everything for online security firms

## Systemic breakdown ##
Why You Absolutely Must Have Food Supplies, Hard Assets and Reserve Cash
Supply Chain Theft A Growing Problem For Retailers

## Japan ##
Indonesia imposes tariff on nickel / Move affects most of Japan's supply of the mineral used in steel
Power limited despite restarts
"Electricity supply is expected to be tight this summer despite the reactivation of two idled reactors, and utilities  nationwide are concerned that their thermal power plants will break down while running full throttle."
'China' fund raises stakes in Japan firms: report
"OD05 Omnibus, an investment fund widely believed to be a Chinese government investment vehicle, has been increasing its stakes in Japanese companies including Toyota and Honda, a report said Sunday."

## China ##
Costs of living in China now exceeds US: Mercer survey

## UK ##
Anglesey Against Wind Turbines protest at Llanddona

## US ##
U.S. economy downshifts to lower gear
Outage at San Onofre may cost hundreds of millions
Philadelphia bans outdoor feeding of the homeless
Regulators shut three banks, failures total 31
U.S. Q1 current account gap widens to $137.3 bln

And finally… Introducing the Karl Marx Credit Card

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