Friday, July 13, 2012

 

News Links, July 14, 2012

## Global Ponzi meltdown/House of Cards ##
Singapore's economy shrinks 1.1 percent in Q2
Moody's downgrades Italy by two notches, warns might cut further
Korea's growth outlook cut sharply
"South Korea's central bank, saying exports could slow due to the Eurozone crisis, sliced its 2012 growth forecast to 3 percent from its earlier 3.5 percent."
Layoffs at Peugeot Signal France's Deepening Problems
Central banks 'running out of ammunition' to stimulate growth
Peugeot's move could drive other closures
Moody's Cuts Pakistan Rating
Libor Rigging: The Tip of the Iceberg
Ford's European Sales Fall 16% in June
Virgin Galactic signs up 529 space tourists

## Airline Death Spiral ##
Wary airlines spoil jet makers' party
"The wariness among airlines to sign firm orders is a sharp contrast to the billions of dollars worth of final deals signed at the Paris Air Show last year and another sign of the growing fear that the world economy is in danger of skidding off the runway."

## Fault lines/flashpoints/powder kegs/military/war drums ##
SE Asia meeting in disarray over sea dispute with China
Despite sanctions, Apple gear booms in Iran
"At its gleaming store, RadanMac offers the latest Apple gear - the new iPad, iPhones, iPods, laptops, all-in-one desktop computers and more.
"But this is no ordinary Apple store. It's in Tehran, where Apple and other U.S. computer products are banned under U.S. sanctions that have been in place for years. Despite the embargo, RadanMac is one of an estimated 100 stores in the Iranian capital that openly sell Apple products, often at little more than U.S. prices."
U.S. Sanctions Iranian Tankers to Tighten Oil Noose
Caspian Sea Oil Dispute Flairs Up Again Between Azerbaijan & Turkmenistan
U.S.: Syria moves nerve gas out of storage
Chinese Frigate 'Stranded' in Disputed Waters
Mexico paper stops drug war coverage after grenade attacks

## Global unrest/mob rule/angry people/torches and pitchforks ##
In Saudi Arabia, Dissent is Alive and Well, But Only Online or in Private

## Energy/resources ##
Blackout in Israel
"Yedioth Ahronoth and Maariv lead with Thursday's power outage that left thousands in Israel without air conditioning during a stifling heat wave. Yedioth Ahronoth reports that one of the electrical generators at Ashkelon's Rotenberg power plant stopped working shortly after midday. The power company's production barely met the country's demand, and, to prevent overloading the grid, it cut supply to large portions of central Israel."
Iraq pays high price for lack of electricity
"Iraq's economic development is being held back by a critical shortage of electricity - with businesses and homes across the country forced to endure blackouts of as long as 15 hours a day.
"Total demand stands at 14,000 megawatts, but the country's struggling power plants can supply only up to 8,000 megawatts."
China's June power generation flat on year at 393.4 billion kWh
Brownouts Loom for Israel and Mideast Countries this Summer
Electric Forecast Calls for Increasing Blackouts (US)
SF power outages
Power Outages Across SoCal Leave Thousands in the Dark
Heavy load cause of east Sidney power outage
Power outages in Fresno leave 3,400 customers in the dark

## Infrastructure scavenging ##
Metal thieves make off with park bleachers
Metal thieves strike at 31 buildings

## Got food? ##
Russia's grain harvest may decline on continuous rain
Attack of the grasshoppers in Texas

## Environment/health ##
Exploding hay bales, watering bans are latest signs of worsening drought
Sun Fires X-ray Shot at Earth, CME to arrive on July 14
Multiple pesticides found in Texas homes
Lemurs sliding towards extinction

## Intelligence/security/internet ##
Olympics 2012: police app will monitor growing crowds in London
Cheney: If There's Another Sept. 11, I Want Romney In The Oval Office
"Sooner or later there is going to be a big surprise. Usually a very unpleasant one. Whether it's 9-11 or the other kinds of difficulties or crises that arrive, they always do. …"

## Systemic breakdown ##
US policy on Egypt prepares for a protracted state of chaos
James Howard Kunstler on Why Technology Won't Save Us
Alberta electrical explosion causes communications blackout
"An explosion in an electrical room at Shaw Communications' headquarters in Calgary led to a communications blackout across the city and surrounding districts on July 11. The blackout affected radio stations, internet services, hospital computers, government networks and some Shaw phone customers' access to 911 services in the city's core."
A look at forecasts for peak oil – and the end of civilization
What if the power outage lasted weeks or months?

## Japan ##
Panasonic Providing 6,000kw Of Power To Kansai Electric
Goldman Sachs scales down prime brokerage business in Japan
Gov't to conduct radiation tests on rice at 40,000 locations in 2012
TEPCO to pay 1 trillion yen in decontamination costs

## China ##
COSCOL: First-half profit to plummet 99.5%
"Shanghai-listed COSCO Shipping Co Ltd, the vessel service provision arm of China Ocean Shipping (Group) Co,
said on Thursday that profit attributable to shareholders for the first half will drop 99.5 percent from a year earlier
to about 700,000 yuan ($109,000)."
China Economic Data Questioned as Electricity Use Slows
Nokia Plans to Close Two of Its Four China Distribution Centers

## UK ##
Woes threaten to turn London's Olympics into the 'Bummer Games'
Sir John Sawers: Secret courts necessary to stop 'wannabe terrorists' finding out MI6's secrets
Parking space shrinking for Britain's motorists
"The amount of space motorists have to park their cars at or near their homes has shrunk by nearly 10 per cent over the past decade."
Steel firm Tata forced to cut wages and shifts

## US ##
Warfare State Sending US Off 'Fiscal Cliff'
California Cities Go Bankrupt, But Bullet Train Barrels On
"If we didn't have California as a case study of fiscal insanity, someone would have to invent it."
Buffett Says Muni Bankruptcies Set to Climb as Stigma Lifts
Lehman Unloads Uranium and Real Estate to Pay Creditors
Why Some Cities May Try to Seize Mortgages
JPMorgan traders may have hidden derivatives losses
"JPMorgan Chase & Co said its traders may have deliberately hidden losses that have since climbed to $5.8 billion for the year, in a development that may result in criminal charges against traders at the bank."
U.S. ranks low in energy efficiency
27 Things That Every American Should Know About The National Debt
Foreclosures are on the rise again in Las Vegas
How Your Bank Account Could Disappear
US nuclear plant problem worse than thought: report
Slowdown in luxury spending may hit Saks
The Child-Free by Choice Speak Out: 'Kids Are Too Expensive'




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