Friday, June 08, 2012


News Links, June 7, 2012

## Global Ponzi meltdown/House of Cards ##
German Industrial Output Fell More Than Forecast in April
Draghi May Move Toward Rate Cut as Debt Crisis Worsens
Greece Warns of Going Broke as Tax Proceeds Dry Up
France, Italy, Spain Services PMI Show Continued Sharp Decreases; Eurozone Composite PMI Near 3-Year Low; Germany Services PMI at 6-Month Low
Commerzbank Cut as Moody's Lowers German, Austrian Banks
Greyerz - We Are Moving Closer To Total Financial Collapse
Italy money laundering reports skyrocket: central bank
Argentina president says to ditch her dollars
"Argentina's President Cristina Fernandez vowed on Wednesday to stop saving in dollars and told government officials to follow her example as tight foreign currency controls spook ordinary savers."
Malaysia Exports Contracted in April
"Malaysia's exports contracted for a second successive month in April, threatening the country's growth prospects, though economists say robust domestic demand will likely give the central bank room to hold the benchmark interest rate steady."
Container Lines Set to Repeat Mistakes in Supply Glut: Freight
Italian steel output will decline in 2012 as economic crisis bites ever deeper - Federacciai
Rubber tumbles amidst gloomy macro-economic scenario

## Airline Death Spiral ##
Manchester airport runs out of fuel
Good Times For Airlines, So Where Are The Deals?
American Airlines to reduce July flying

## Fault lines/flashpoints/powder kegs/military/war drums ##
US Claims 'Al-Qaeda Number Two' Killed Yet Again
"For at least the third time in the past several years, US officials have 'confirmed' the death of Abu Yahya al-Libi, who they are now calling 'al-Qaeda's number two' leader. Libi was reportedly killed in one of the recent drone strikes."
China's Hu sees role for regional bloc in Afghanistan
"A bloc bringing together China, Russia and central Asian states wants to play a bigger role in Afghanistan, Chinese President Hu Jintao said in an interview published on Wednesday, as group leaders gathered for an annual summit."
Russia's Putin says to push military ties with China
"Russian President Vladimir Putin said on Wednesday he will boost military cooperation withChina, including holding more joint exercises, after the United States announced plans to shift most of its warships to the Asia-Pacific by 2020."
Arctic interests have spillover effects
Philippine-China Tussle, Front and Center

## Global unrest/mob rule/angry people/torches and pitchforks ##
Occupy Wall Street is Still Alive and Kicking: 3 Reasons Why Occupy Has Not Disappeared
Russian parliament backs huge protest fines
Police to crack down on gangs following Eaton Centre shooting (Canada)

## Energy/resources ##
Saudi diesel imports seen rising on seasonal demand, shortages
Current and Projected Costs for Biofuels from Algae and Pyrolysis
UCS: Power puts strain on water supplies
Time running out for Japan, other Asian buyers of Iran oil
Power, water shortages bring misery to Ghaziabad
UK company to plug electricity shortages in SA

## Infrastructure scavenging ##
Metal thieves strip the roof of Bronte church

## Got food? ##
Heavy Metals, Drug Contaminants Commonly Found in US Meat
Many Food Workers Keep Working While Sick, Survey Finds

## Environment/health ##
Green decline 'may bring irreversible change'
"With forests and fish stocks declining, water demand rising and lack of action on climate change, humanity's path is anything but sustainable, the UN warns."
International trade 'driving nature loss'
Drug-Resistant Tuberculosis A 'Serious Epidemic' In China
WWF concerned Rio talks may collapse

## Intelligence/security/internet ##
Israel airport security demands access to tourists' private email accounts
"Several U.S. tourists report being asked by airport security personnel for access to their personal email accounts; Israel's Shin Bet security service says it acted within the law."
Panetta Green Lights First Cyber Operations Plan
UPS death in Pulsant data centre knocks out websites
'End of the world as we know it': Kaspersky warns of cyber-terror apocalypse
More than 6 million LinkedIn passwords stolen

## Systemic breakdown ##
AfDB: Infrastructure Deficit in Nigeria, Others Hit $90bn
"The African Development Bank (AfDB) has put infrastructure funding deficit in Nigeria and other African countries at $90 billion per year, and total commitment at $55.9 billion, last year."
Human hand, foot mailed to schools in Vancouver, B.C.
Greeks queue as pharmacies run out of medicines
Back to the Stone Age (Egypt)

## Japan ##
TEPCO's retirees OK pension cuts
Japan Faces Opposition to Plan to Restart Reactors
Number of newborns plunged to record low in 2011
Good news for a grossly overpopulated country. -- RF
Oe speaks at anti-nuclear rally to gather 10 million signatures
Nuclear agency to allow Mihama No. 2 reactor to operate beyond 40 yrs.
Japanese power companies' debt soaring: report

## China ##
Macroeconomic indicators - China services growth weakens
China Buys Overseas Assets
"China's overseas investment surged in the first quarter to $21.4 billion as state-owned companies snapped up resource-related assets around the globe, according to a report by a private investment firm that counts China's sovereign-wealth fund among its partners."
Beijing Alone Has 50% More Vacant Housing Than The US

## UK ##
Coalition under pressure to cut benefits for middle-class pensioners
"David Cameron is coming under pressure from senior Cabinet colleagues to scrap free television licences, bus passes and winter fuel payments for middle-class pensioners."

## US ##
Federal Disability Insurance Nears Collapse
Use of public transit is soaring in 2012
'Significant' rise in electric bills seen
Most state economies still recovering after recession
CBO: U.S. debt could be double GDP by 2037
Nasdaq offers $40 million to cover Facebook losses, short of claims
Floating to Japan on a Sea of Bad Debt
Hundreds of Thousands of Jobs Could Be Lost in Defense Industry

And finally‚Ķ Mother cheers at daughter's graduation, is handcuffed and arrested.

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