Sunday, June 24, 2012


News Links, June 25, 2012

## Global Ponzi meltdown/House of Cards ##
Nein! Schaeuble says "no" to throwing money at euro crisis
Capital Controls Hit Spain: Government Laws Prohibit Cash Transactions Over €2,500; Minimum Fine of €10,000 for Failure to Report Foreign Accounts
CNBC Admits We're All Slaves To Central Bankers (video)
Very interesting. Lots of frank investor talk here. -- RF
Eurozone 1% Shell Game Stimulus Mirage; Meaning of Necessary; "Real" Stimulus
Putin Wrong As Russia Submits To Higher Deficit
"Falling oil prices means Russia will have a fiscal account deficit this year, and one greater than president Vladimir Putin predicted earlier in the month."
India Leader In Panic Mode, Promises 'Any Means Necessary' Growth Initiative
Bunds Looking Less Robust
"After flocking to the safety of German government debt since the onset of the European debt crisis, some of the biggest names in the bond market have started cutting back. Among their concerns: whether Germany can continue to provide shelter should the European crisis deepen."
India Readies Measures to Counter Rupee Slide Spurring Inflation
Is World Sliding Into Another Recession? This Guy Thinks So.
"'The world is slipping into a new recession,' Aiyar writes.  'No global authority has dared say so, but the writing is on the wall.'"
Eurozone nations are stuck in a 'doom loop'
BIS backs pan-European banking system

## Airline Death Spiral ##
No silver bullet seen for Qantas
Fuel-stingy airlines putting safety at stake?

## Fault lines/flashpoints/powder kegs/military/war drums ##
US Reconstructs Former Military Bases Across Asia-Pacific
"Bases left in WWII or after the Vietnam War are now being refurbished and put to use in a broader anti-China surge in the region"
Turkey says jet downed outside Syrian airspace
Turkey calls for NATO meeting over Syria downing jet
Hawaii bracing for largest-ever RIMPAC exercise
"Military ships, planes and personnel from 22 nations are converging on Hawaii for the largest-ever Rim of the Pacific naval exercises and war games in and around the islands."
AP sources: US mulls new covert raids in Pakistan
"U.S. military and intelligence officials are so frustrated with Pakistan's failure to stop local militant groups from attacking Americans in neighboring Afghanistan that they have considered launching secret joint U.S.-Afghan commando raids into Pakistan to hunt them down, officials told The Associated Press."
Iraq's Sadr demands reforms for support of PM
"Cleric Moqtada al-Sadr, head of a powerful Shi'ite movement in Iraq, on Sunday called for more political reforms and said he would back a no-confidence vote against the prime minister if these were not made."
Muslim Brotherhood's Mursi declared Egypt president
Rockets hit Israel despite 'truce'

## Global unrest/mob rule/angry people/torches and pitchforks ##
Bolivia deploys army to patrol streets as police strike
Bolivia police clash as deal fails to end uprising
"Rebel Bolivian police clashed with officers trying to return to work on Sunday despite a deal aimed at ending a three-day uprising over pay that has severely reduced policing across the Andean country."
Papua New Guinea election under way amid unrest
"Police have fired warning shots to subdue angry voters amid a chaotic start to Papua New Guinea's sprawling, two-week general election."
Israeli social activists angry at police

## Energy/resources ##
Norway Oil Workers Shut Platforms as Mediation Talks Fail
"The strike will cut oil and gas output as shut production at Statoil ASA (STL)'s Oseberg and Heidrun fields, and close BP Plc (BP/)'s Skarv development, according to the group. About 700 workers are being taken off the job in the initial phase of conflict, which will also hurt operations at Europe's biggest methanol plant."
Nations clamping down on natural resources
"Countries from India and Indonesia to Russia are tightening their grip on natural resources as they limit exports to build up domestic industry in a trend that will spawn many challenges to World Trade Organization rules."
Electricity Crisis Lands on Cabinet Agenda after Severe Power Cuts (Lebanon)
Myanmar's real power struggle? Keeping the lights on
City faces shortage of diesel amid power cuts
"Chennai is facing a severe diesel shortage with most of the nearly 300 pumps in the city going dry on Friday."
Pumps dry up as Riyadh diesel shortage continues (KSA)
Israel power stations get nod to use heavier polluting fuels
"In light of the expected shortage of natural gas in coming months, the Environmental Protection Ministry has given the Israel Electric Corporation the green light to use fuels that emit greater pollution, even at power stations in the densely populated areas of Tel Aviv and Haifa."
Vestas Scraps U.K. Wind-Turbine Plant as Industry Seeks Clarity
Record water pumping to end shortage (KSA)

## Infrastructure scavenging ##
Copper thieves hit inner city church, steal air conditioning units
Sacramento Copper Wire Theft Epidemic Costing City Big Bucks
"Neighborhoods throughout Sacramento are in the dark as the city grapples with the ongoing problem of copper thefts and officials consider allocating thousands to replenish wiring."

## Got food? ##
Desert locusts threaten food supply in West Africa
GM grass linked to Texas cattle deaths
"Preliminary tests revealed the Tifton 85 grass, which has been here for years, had suddenly started producing cyanide gas, poisoning the cattle."
U.S. consumers say 'No' to antibiotics

## Environment/health ##
Decline in king salmon is rooted in the sea, Alaska state biologists say
New Colorado wildfire grows out of control

## Intelligence/security/internet ##
Bill C-11 passes Commons, allowing for U.S.-style copyright law (Canada)

## Systemic breakdown ##
Treasury rescues Israel Railways from collapse with NIS 60 million emergency infusion
"The Finance Ministry's financial aid enabled Israel Railways to continue to operate and meet its payroll. The ministry is expected to provide another NIS 100 million next month as well. In total the railroad needs about NIS 200 million by the end of the year."
NatWest, RBS and Ulster Bank branches tackle backlog
"Some 1,200 NatWest, RBS and Ulster Bank branches have opened on a Sunday for the first time, after a computer glitch affected millions of customers."
Fury as NatWest bank glitch drags on
"RBS is warning its 17 million customers that the backlog caused by a technical glitch could take at least another two days to clear, meaning that the computer failure will have lasted for more than a week."
Public health and austerity: A troublesome combination

## Japan ##
To conserve power, TV broadcasters should shut down
Now we're talking. Daytime TV is just silly, anyway. And anyone who has lived in Japan knows that it's normal for TVs to be on all day even if no one is watching them. -- RF
Drug costs become bigger issue in cancer care
The pharmaceutical crisis is beginning to hit Japan, too. -- RF
Alarm Erroneously Issued At Oi Nuclear Plant
'Chinese fund' gobbling up Japan equities amid euro crisis
Japan Strives To Overcome Defense Industrial Base 'Crisis'
"Japan's defense industrial base, facing years of declining spending and export restrictions, faces a "crisis" and must urgently restructure in conjunction with Defense Ministry leadership, according to results of a six-month study.
"The report, "Towards Formulation of a Strategy for Survival," released by the MoD's Defense Production and Technology Base Research Committee, notes that damage done by a half-century ban on weapon exports combined with decreased annual defense spending have left Japan's defense industry in a parlous state."

## China ##
More China Retail Woes: Hypermarket Chain C.P. Lotus Warns Of 1st-Half Loss
Can China's skyscraper boom last?
How China Will Restructure The Oil Market
Fishy Economic Data and the China Crash

## UK ##
Community-run shops on the rise
"Increasing numbers of villages are setting up community-run shops to replace closed commercial stores."
NHS drugs: Prioritise patients over exports, says MP Huw Irranca-Davies
"Patients struggle to obtain drugs for common life-threatening conditions in 80% of NHS trusts, an MP has claimed."
Big Street Light Switch Off Could Get Bigger

## US ##
Florida hopes to fill its skies with unmanned aircraft
Massive college debt can burden graduates for decades
Detroit street lights to stay off
Street lights may dim in Richmond Heights due to budget concerns
Moody's downgrades $64 billion of U.S. muni debt
U.S. high-yield muni buyers lose safeguards

<< Home

This page is powered by Blogger. Isn't yours?