Sunday, June 24, 2012


News Links, June 24, 2012

## Global Ponzi meltdown/House of Cards ##
Greek coalition proposes easing bailout terms
"Greece's new coalition government has proposed an extension to the deadline for it to reduce its budget deficit by at least two years, to 2016."
Laugh of the Day: Stress Tests Show Spanish Banks Only Need €16bn and €62bn in New Capital; ECB to Accept ABCP Collateral One Step Above Junk as Collateral
Europe can't escape 'Lehman moment': Niall Ferguson
Italy "Gasping Like Beached Whale"; Berlusconi Reiterates Euro Exit "Not Blasphemy"; Beppe Grillo Discusses "Taboo of the Euro"
Capital Controls Coming

## Airline Death Spiral ##
Debt-Burdened Merpati Convinced It Shall Turn a Profit
Air India loses Rs 1,492 crore on international routes
Kingfisher Airlines may further curtail flights

## Fault lines/flashpoints/powder kegs/military/war drums ##
Probe: Bad Judgment in Military School Islam Class
"Some of the material suggested the U.S. ultimately might have to obliterate the Islamic holy cities of Mecca and Medina without regard for civilian deaths, following World War II precedents of the nuclear attack on Hiroshima, Japan, or the allied firebombing of Dresden, Germany."
Israel kills Gaza militant as truce unravels
Egypt's army in control of vast business empire
C.I.A. Said to Aid in Steering Arms to Syrian Opposition
Saudi Arabia plans to fund Syria rebel army
Official: Israel Won't Attack Iran Until After Western Talks End

## Global unrest/mob rule/angry people/torches and pitchforks ##
Thousands of Israeli protesters block streets in Tel Aviv, clash with police
"Protesters smash windows of banks at Rabin Square, block major highway a day after police violently arrested a dozen activists; police arrest 89."
Bahrain opposition says leader injured in police clash
"The head of Bahrain's leading opposition party was hit by a rubber bullet and a teargas canister during clashes with riot police late on Friday, the party said, accusing the government of intensifying a crackdown on protests."
Sudanese protest over cuts amid security crackdown
Ukraine Goes Topless Again, In Protest
20,000 protest outside Noda's residence over nuclear restart (Japan)

## Energy/resources ##
Indian Fiber Weaves a Crisis
"Wheat Stocks Are in Danger of Spoiling Amid a Shortage of Jute, the Sole Material the Country Uses to Make Commodity Bags"
Indonesia to Acquire Harvest's Oil Reserves in Venezuela

## Environment ##
Rio+20 draft text is 283 paragraphs of fluff

## Got food? ##
South Korea in worst drought in decades
"Government officials are concerned the water shortages will lead to poor farm products, which could in turn cause consumer prices to skyrocket."
Drought hits Argentine corn and soy crops
"Drought is claiming a heavy toll on Argentina's corn and soy crops, creating problems for the economy amid confrontations between farmer groups and the government."
Supporting Farmers, Eating Local Food
Brazilian food firm inks Saudi supply deal

## Intelligence/security/internet ##
Call for Ray Bradbury to be Honored with '451' Internet Censored Message
Data Mining: Big Corporations Are Gathering Every Shred Of Information About You That They Can And Selling It For Profit

## Systemic breakdown ##
System Failure: We Are Approaching the End of Society As We Know It -- And That May Be a Good Thing
Greece brain drain 'wrecking my social life'
Looting breaks out as Bolivian police strike
"Looting broke out near Bolivia's presidential palace Friday as junior members of the police force angry over low wages joined a nationwide mutiny."

## Japan ##
Japan's Mitsubishi renews Iran oil imports deal -sources
People of Fukushima respond with hostility to TEPCO's nuclear disaster report
Due to International Pressure (Or Typhoon Damage?), Tepco Agrees to Start Removing Radioactive Fuel from Fukushima a Year Early
Policy of recycling all spent nuclear fuel may be axed
KEPCO customers asked to cut back on power usage by 10%
Gov't asks 4 power companies to plan for rolling blackouts
Japan to make illegal downloading of music, videos punishable with jail terms
High-tech cameras fight crime but at what cost to privacy?

## China ##
China's slowdown may be deeper
"Experts studying electricity consumption in China say the economic slowdown in the country may be deeper than suspected."
Chinese Officials Falsify Data to Mask Slowdown, NYT Says
China's high oil imports are all about Iran
China's Iranian oil imports 'legitimate'
"A spokesman for China's Foreign Ministry said Thursday that the country's oil imports from Iran are "fully reasonable and legitimate," and do not violate any relevant UN Security Council resolutions."

## UK ##
New welfare clampdown could axe housing benefit from under-25s
"People aged under 25 could be stripped of housing benefit payments in a new drive for welfare reforms to be launched by David Cameron this week."

## US ##
Million dollar incomes on the rise again
States Face Pressure on Pension Shortfalls
St. Louis Police Warn Public of Military on the Streets
Three Key Reasons Housing Not Coming Back: Demographics, Student Debt, No Jobs
U.S. Economic Confidence Ticks Down for Third Straight Week
The Day of American Austerity: What Will It Look Like?
"In the United States, the belt-tightening has just begun"

And finally… Singles try to sniff out love at pheromone parties

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