Friday, June 08, 2012


News Links, June 9, 2012

## Global Ponzi meltdown/House of Cards ##
Spain to request EU bank aid on Saturday: sources
Germany and France can't afford euro-zone bailout
Greek economy keeps on crumbling
Moody's: Spain, Greece may trip more rating cuts
Prada Confident Amid Rising Economic Risks as Net Doubles
Merkel says EU ready to act as Spain downgraded
German imports see biggest fall in 2 years, exports drop
Bank of Spain inspectors question the viability of BMN Bank Group
Argentina data point to creeping recession
Stumbling economies have central banks girding for more intervention
As India's richest ranks swell many head for gold

## Airline Death Spiral ##
Rising jet fuel prices a major setback to African airlines
Airlines weighing fee for oversize carry-ons
El Al Israel Airlines Gets $40 Million Loan from Boeing to Buy Aircraft
Debt crisis may undo benefit of cheaper oil to airline industry
Airlines now charge extra for window or aisle seat

## Fault lines/flashpoints/powder kegs/military/war drums ##
Philippines president visits U.S. as allies eye China
Egyptian State-TV Launches Ad Campaign Stoking Fear Of Foreigners
Clashes erupt in Syrian capital's streets: residents
Pakistan successfully test-fires cruise missile

## Global unrest/mob rule/angry people/torches and pitchforks ##
Tennessee man torches self after learning of financial loss, police say
Argentines bang pots and pans to protest government
"Several thousand Argentines protested against the government of President Cristina Fernandez by banging pots and pans in front of the presidential palace in Buenos Aires late on Thursday."
China closes travel to Tibet
Quebec students strip in Grand Prix protest
Putin's Hard Line Against Protests to Be Tested
Egyptians protest against ex premier ahead of vote
Putin signs tough anti-protest law

## Energy/resources ##
Dangerously low power reserve ratio (SKorea)
Oil Heads for Longest Weekly Losing Streak in 13 Years
China's Refiners Face Biggest Fuel-Price Cut Since 2008
"China Petroleum & Chemical Corp. (600028) and PetroChina Co. (857), the nation's biggest refiners, face more losses from processing crude after the government cut fuel prices by the most since 2008 as global crude costs tumbled."
Halliburton sees bigger North America cost hit
"Halliburton, the world's second-largest oilfield services company, said higher costs would have twice as big an impact on its North American profit margins in the current quarter than it expected, sending its shares down from their early gains."
Space technology goes underwater to find oil and gas fields
San Onofre nuke plant likely offline for summer
UAE oil rig maker cuts 2012 forecasts again
"Gulf-based oil rig maker Lamprell has cut its 2012 forecasts again, just three weeks after a profit warning that sliced its shares in half and cost the company a spot in London's FTSE 250 index of medium-sized companies."
The Saudi Oil Problem
Rising demand for diesel revokes fears of shortage (KSA)
"The quantities of diesel being supplied to gas stations have been multiplied and the long lines outside of gas stations have subsided. However, gas station workers are worried that the crisis will reemerge during the upcoming summer weeks when demand for diesel peaks."
Egypt fuel crisis hits again ahead of vote
OPEC enters the Twilight Zone

## Infrastructure scavenging ##
Attempted subsea cable theft takes out phones and internet in Highlands

## Got food? ##
Our Obama Family Dinner Survey Shows Brown Rice Is Still A Tough Sell
Brown rice: Yum! -- RF

## Environment/health ##
Warmest U.S. Spring On Record: NOAA
Eagles on decline in Britain for centuries

## Intelligence/security/internet ##
ACLU Phone App Lets You Shoot the Cops
"The New York chapter of the American Civil Liberties Union has released an Android application allowing mobile-phone users to easily capture police patdowns on video, which is then automatically uploaded to the rights group's servers."

## Systemic breakdown ##
In Greece, a painful return to country roots
"Thirteen years after abandoning rural Greece for a career in graphic design, Spiridoula Lakka finds herself in the last place she expected to end up - watering a patch of lettuce and herbs in her sleepy village."
No one should be laughing at the Greeks. We must learn from them. -- RF
Greek debt crisis: chronic drug shortage risking lives of the sick
Suicides are surging among US troops
Fourteen dismembered bodies dumped in northern Mexico
The 'Big Reset' Is Coming: Here Is What To Do

## Japan ##
Japan's Current-Account Surplus Shrinks as Trade Slumps
Olympus: To cut around 2,700 jobs by March 2014
Japanese steel exports in April down by 20.6pct MoM- JISF
Noda Warns Of Consequences If Nuclear Power Is Not Restarted
Smaller Companies Slow To Prep For Summer Of Power Saving
Economy watchers sentiment declines
DPJ abandons dream of a complete nuclear fuel cycle

## China ##
China Near Recession in Rate-Cut 'Panic,' Asianomics Says
China rate cut sparks fears of grim May data
Chinese banks stop lending to steel traders
Rising costs threaten China's position as global manufacturing hub

## UK ##
Police called in... for simply sending a card to grandchild
"Grandparents who send their grandchildren birthday cards or presents following a family break-up are being threatened with arrest in some instances."
Squatting rises as eurozone crisis drives migrants into London

## US ##
Should Sugary Drinks Be Taxed Like Cigarettes? Calif. City Considering Idea
Eurozone crisis burdening U.S. businesses
Manufacturing as Mass Employment Just Isn't Coming Back
U.S. Political Risk May Spur Downgrade by 2014, S&P Says
North Las Vegas Crisis Shows Fragility of Nevada Economy
Hey Brother, Can You Spare $500 Billion for America's Banks?
Student Loans Are the Government's Largest Asset

And finally…
"Zombie Apocalypse Survival Class"
Zombie Bullets: US ammo producers cash in on Zombie Apocalypse fears

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