Friday, June 08, 2012


News Links, June 8, 2012

## Global Ponzi meltdown/House of Cards ##
France eyes layoffs clampdown as unemployment climbs
"France's new Socialist government is planning labor regulations in the coming months to ramp up the cost of laying off workers for companies, its labor minister said on Thursday after data showed the jobless rate has hit 10 percent."
New Risk to Europe's Growth: Banks Cut Lending to Cities
"As France's new president, François Hollande, tackles the many challenges posed by the deepening euro-zone crisis, from Spain's troubled banking system to Greece's potential exit from the currency union, here's the latest: Many municipalities can't fund their investment projects."
Economic future bleak for 100m Arab youths
Pakistan heading towards economic collapse: experts
"KARACHI: Pakistan is heading towards economic collapse and immediate measures are needed to avert such a situation, said experts at a post-budget 2012/13 seminar organised by the Institute of Cost and Management Accountants of Pakistan (ICMAP) on Tuesday night."
Company collapse rates ahead of this time last year (Australia)
"The number of company collapses so far this financial year is up 13.6 per cent on the previous one, and many companies are expected to remain under pressure."
Fitch slashes Spain rating by three notches to "BBB"
IMF report to show Spanish banks need 40 bln euros in aid
Tax Evasion Eating Into Italian GDP
Grim news for Caribbean economies
China CIC Chief Sees Rising Risk of Euro Breakup
"The head of China's giant sovereign-wealth fund sees mounting risks of a breakup of the euro zone, and says China Investment Corp. has scaled back its holdings of stocks and bonds across Europe."
In scare for newspapers, digital ad growth stalls

## Airline Death Spiral ##
Japanese airline tells customers flight attendants will not help them
"A Japanese airline has instructed its passengers that flight attendants will not help them with their luggage, do not have to be polite and complaints will not be tolerated."

## Fault lines/flashpoints/powder kegs/military/war drums ##
China and Russia flex muscle at the West
Exclusive: U.S. offers millions in bounty for top Somali militants
UN report predicts increase in people fleeing homes in next decade
Planned E.U. Oil Embargo Looks Set To Squeeze Iran But...
U.S. soon to grant more waivers to Iran sanctions
"The United States will 'very soon' announce a new list of countries that will receive waivers to financial sanctions on oil trade with Iran, a U.S. official said on Thursday."
In northern Syria, rebels now control many towns and villages
Iran and Iraq: Battle of the ayatollahs
"In the wake of the U.S. withdrawal from Iraq, Iran is stepping up plans to dominate its western neighbor and longtime adversary, and a key project is to ensure the holy city of Najaf in Iraq doesn't reclaim its status as the spiritual center of Shiite Islam."

## Global unrest/mob rule/angry people/torches and pitchforks ##
One Thousand Foxconn Workers Riot At Chinese Dormitory
Police officers corner, isolate protesters at Canadian Grand Prix
4 arrests during police clash at Occupy Milwaukee rally
Israeli reporter from Jerusalem Post beaten by masked mob

## Energy/resources ##
South Korea To Hold Nationwide Drills As It Braces For a Possible Blackout
"South Korea said Thursday it plans to hold a nationwide drill later this month as a means to prevent being hit by any blackouts during the super-hot summer season when electricity demand is expected to set a fresh record high."
Analysis - Australia coal miners face squeeze, new mines at risk
"Falling coal prices and soaring costs have forced Australia's producers to start trimming output and letting go of some workers, hurting miners, rail and port operators and potentially threatening plans for more than $30 billion (19.35 billion pounds) of investment in new mines."
Affluenza Afloat: The Dangers of Supersized Cruise Ships in Our Peak-Oil World
"Habitual over consumption on billion-dollar high rise vessels comes at a huge cost to both the environment and the widening schism between rich and poor."
Fuel shortage hits the East
"With Indian Oil Corporation cutting diesel supply to eastern part of Nepal on a massive scale, about 90 per cent of the petrol pumps operating here have closed.
"So far, about 350 petrol stations have shut after they did not receive diesel for over one week, leaving the transportation sector, industries and factories completely at the receiving end."

## Got food? ##
What's Really in Your Expensive Steak? You'd Be Surprised
World food price index expected to fall for May
"World food prices are expected to have fallen in May for a second month, easing inflation and food security concerns, as intensifying worries about a slowing global economy and euro zone debt led to a sell-off in grains and other commodities."
Biocouture: Designer Suzanne Lee on growing your own clothes (video)
Your old clothes go onto the compost pile. -- RF

Greek crisis creates medicine shortages
"Greece's highly uncertain future has forced businesses into a quasi hand-to-mouth existence, with one of the most alarming effects a shortage of medicines, including for the seriously ill."

## Japan ##
Japan Cabinet Said to Approve Insuring Iran Tanker Calls
"Japan's Cabinet is poised to approve a bill giving sovereign guarantees for the nation's oil tankers loading Iranian crude, potentially undermining Western sanctions targeting the Persian Gulf nation's nuclear program."
Hospitals fear rolling blackouts this summer will affect electric life-support machines
Japan: Keynesian Template for Poverty

## China ##
China says to offer $10 billion in loans to SCO member states
"Chinese President Hu Jintao said on Thursday that Beijing will offer $10 billion in loans to the member states of the Shanghai Cooperation Organisation."

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