Wednesday, June 20, 2012


News Links, June 20, 2012

## Global Ponzi meltdown/House of Cards ##
Double-Trauma Strikes Europe! U.S. Next?!
G-20 Summit in Flames Already as EC President Blames US For Financial Crisis in Europe
German investor sentiment plummets
Competitive devaluation now may engulf Denmark
Macroeconomic indicator - Fitch downgraded India credit outlook to negative
Vietnamese steel plants struggle amid stagnant market - Report
Spanish Banking Audits Delayed Until September, Another €50 Billion Likely Needed
Brazil's productivity curve may have reached peak

## Airline Death Spiral ##
Air India Local Flights Take a Hit
Study: Travel time to airports has increased substantially
FedEx Founder Predicts Fundamental Industry Shift
"The FedEx founder, who pioneered the modern airfreight business and has built the world's largest cargo airline by revenue, cautioned that the traditional airport-to-airport business 'is not growing.'"

## Fault lines/flashpoints/powder kegs/military/war drums ##
No light at end of Egyptian tunnel for Israel
"Egypt's political upheaval is by no means over, but its uneasy neighbor Israel is not waiting for the outcome. Desert defenses are being strengthened and strategy revised as a once stable relationship splinters."
Fighting flares along Israel-Gaza border
US plans significant military presence in Kuwait
"The United States is planning a significant military presence of 13,500 troops in Kuwait to give it the flexibility to respond to sudden conflicts in the region as Iraq adjusts to the withdrawal of American combat forces and the world nervously eyes Iran, according to a congressional report."
Iran, world powers deadlocked at nuclear talks
India clears rupee for Iranian oil
"The Indian government said it issued a tax exemption for Iranian crude oil imports paid for in part with the national currency, the rupee.
"A notification from the Indian Finance Ministry to a tax board exempts crude oil paid for in rupees from local taxes, meaning New Delhi has cleared the way for oil refineries to take on more Iranian oil."
Sanctions on China for Iran oil buys unlikely
Saudis 'boost German tank buy to 600-800'
"Saudi Arabia is reported to be seeking 600-800 Leopard 2A7+ main battle tanks made by Germany's Krauss-Maffei Wegmann worth around $12.6 billion."
David Cameron and Argentina's Cristina Kirchner in clash over Falklands
Netherlands beefs up anti-piracy forces
"The Dutch Parliament voted last week to spend $16.5 million to provide extra personnel, two Cougar helicopters and an unmanned aerial vehicle to join Operation Ocean Shield, in which NATO warships and aircraft have been patrolling the waters off the Horn of Africa."
'Iran, Russia, China, Syria plan 'largest' war game' (Jerusalem Post)
Russia denies war games report
"The Russian Defense Ministry Tuesday denied Iranian reports of planned war games with Iran, China and Syria off the Syrian coast."
Russian ship turns away from Syria, officials say
"A Russian ship thought to be carrying attack helicopters to Syria now appears to be returning home, British officials said today."
McCain urges US-led air war in Syria
U.S. Navy Bets $42 Billion on Carriers in China's Sights

## Global unrest/mob rule/angry people/torches and pitchforks ##
Oregon Flash Rob Teens Hit Grocery Store
"A group of 30 to 40 teenagers ransacked an Albertson's grocery store Saturday night, stealing merchandise and trashing parts of the store, according to police."
South Korean Taxi Drivers Go on First Nationwide Strike
"South Korean taxi drivers are going on their first nationwide strike today, protesting rising fuel costs and demanding higher fares."
Sudan protesters scuffle with police for third day: witness
Africans protest in China as man dies in police custody
Peru threatens to arrest pregnant anti-mining protesters
Egyptians, Awaiting Poll Result, Rally Against Military
Revolutionary forces call for mass protest against 'coup d'état' (Egypt)
3 killed in riots over blackouts
"At least three people are dead as rioting and vandalism escalated in Pakistan's Punjab province over energy shortages, officials said."
Women march in Rio to protest 'green economy'
"Behind a large banner from the international peasant movement Via Campesina proclaiming 'the peoples are against the mercantilization of nature', they marched several miles to the Flamengo park, the venue for the 'People's Summit' organized by civil society groups on the sidelines of the Rio+20 event."
Occupy Will Be Back (Chris Hedges)

## Energy/resources ##
The European Refining Blues (The Oil Drum)
"In this article, the changing landscape experienced by European refiners will be explored to help understand how a business that was profitable a few short years ago became much less so."
Global Witness: Resource fight gets deadly
"Advocacy group Global Witness said competition over forest and natural resources in Africa and Latin America has turned deadly…
"'This trend points to the increasingly fierce global battle for resources, and represents the sharpest of wake-up calls for delegates in Rio,' Global Witness campaigner Billy Kyte said in a statement. 'Over one person a week is being murdered for defending rights to forests and land.'"
Korea to Carry Out Nationwide Power Shortage Drill on Thursday
Rough Years Ahead for the Solar Industry
India to set up two more major ports to import more Coal, Oil

## Infrastructure scavenging ##
Lead thieves hit St Matthew's Church in Wigmore for fourth time in a year

## Got food? ##
Kleiner Perkins Invests in Seed Company as It Sees Food Shortage
"Kleiner Perkins Caufield & Byers, the U.S. venture capital firm that provided startup financing to Inc. and Google Inc. (GOOG), is investing in a seed company as it forecasts food will become a 'global problem of huge dimensions' over the next decade."
Study: World faces food crisis if American weight-gain trends spread

## Environment/health ##
Red List counts 'on the brink' species
"East Asia's status as the world's main 'extinction hotspot' is confirmed in the new Red List of Threatened Species."

## Intelligence/security/internet ##
Chinese hackers robbing US companies blind
Wikileaks' Julian Assange seeks asylum in Ecuador embassy
Flame virus 'created by US and Israel as part of intensifying cyber warfare'
Unconstitutional Use of Drones Must Stop (Ron Paul)

## Systemic breakdown ##
The Most Immediate Threats to Global Energy Security - Jellyfish Interview
Dark Ages Redux: American Politics and the End of the Enlightenment
20 rules that can save you from the Doomsday Cycle: Paradigm shift coming after Great Depression 2

## Japan ##
Japanese lawmakers nervous at Chinese purchases of land
"Chinese businesspeople are now considered a major threat to Japan's national security through purchasing property in the country, reports Duowei News, an outlet operated by overseas Chinese."
Toyota to Cut Domestic Capacity Further
"Toyota Motor Corp. (TM) will continue reducing its domestic production capacity, bringing the figure to 3.1 million units as early as 2014, a more than 10% drop from the level projected for this year, The Nikkei reported early Wednesday."
Japan's trade deficit widens more than expected
Radiation level picking up in typhoon
Experts at secret meeting decided to cover up scenario for dealing with spent nuclear fuel
Renesas shareholders, creditors agree on 100 billion yen aid

## China ##
China Leads Nations Boosting IMF's Firewall to $456 Billion

## UK ##
David Miliband says Britain facing 1970s-style 'social and industrial disorder'
Terror watchdog says secret courts plan could work

## US ##
John Williams: The 2014 Hyperinflation Scenario Still On Track
Job Openings in U.S. Decrease by Most in Almost Four Years
Ohio to Monetize Bridges, Toilets With Naming Rights
"Ohio is trying to become the first state to sell road and bridge naming rights and commercialize rest stops, as Republican Governor John Kasich addresses a $1.6 billion transportation funding shortfall."
Desperate times call for desperate measures. -- RF
Iowa to seek sponsors for highway rest areas
'Back At Square One': As States Repurpose Welfare Funds, More Families Fall Through Safety Net
Fiscal-Cliff Concerns Hurting Economy as Companies Hold Back
"Companies are starting to delay hiring and spending out of concern that Congress won't reach a compromise in time to avoid automatic tax increases and budget cuts that would pull billions of dollars of purchasing power out of the economy."
Is a Military Drone Base Coming to Your Hometown?
The High Costs Of High Security At Supermax Prisons
JPMorgan's Loss Was From Prop Trading, Not Hedging: Meredith Whitney
JPMorgan Chase Gets $14 Billion Per Year In Government Subsidy: Study
Fed Will Ease Monetary Policy This Week: Goldman's Hatzius
Net Worth Implosion: It's Not Just Housing
California's Bad Bet Makes JPMorgan's Look Minor

And finally…
Hypnotist summons help as girls get stuck in a trance
Florida Woman Charged With Battery For Groping TSA Agent

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