Sunday, July 15, 2012


News Links, July 16, 2012

## Global Ponzi meltdown/House of Cards ##
UAE banks under pressure as Dubai debt talks falter 
"The UAE sentiment is seen negative and banks are likely to be hit after Royal Bank of Scotland and two other banks abandoned talks on restructuring Dubai Group's $10 billion debt and threatened legal action, said experts on Tuesday."
Nothing to see here, folks. Move right along. -- RF
Global turmoil, capacity glut force SCI not to place new orders (India)
CSA calls on domestic cargo owners to cut shipping capacity (China)
Loan Moratorium in Italy for Small and Medium-Sized Businesses; GDP Expected to Contract 2 Percent
Is Keynesianism Running Dry?
Latin America's love affair with China may sour
"Latin America has developed a dangerous dependency on China as a voracious consumer of commodity exports and the region now faces a potential hit as the huge Asian economy cools."
GM under pressure as Opel fights overcapacity
ECB Advocates Forcing Senior Bondholders to Take Losses on Spanish Debt; What's It Mean?
The dismal state of luxury
Clouds gather over money market funds

## Airline Death Spiral ##
Kuwait Airways situation 'going from bad to worse'; Some passengers cancel reservations
Air India: Selling family silver to ease finances

## Fault lines/flashpoints/powder kegs/military/war drums ##
China frigate heads home, averts new Philippines row
Mexico gang attacks Christian youth camp
How Iran Steams Past International Sanctions
Battle for the Pacific: Naval arms race in the China Sea
Hilarity Ensues as Russia Criticizes Saudi Arabia's Human Rights Record
After Creating Dollar Exclusion Zones In Asia And South America, China Set To Corner Africa Next

## Global unrest/mob rule/angry people/torches and pitchforks ##
Protests hit Bahrain after opposition restrictions
Thousands protest civil servant wage cuts in Spain
Turkish Police Clash with Kurdish Protesters
Occupy Protests Enter Third Day in Downtown L.A.
Occupy protesters mark start of Bohemian retreat
Angolan police arrest 12 at anti-government rally
Ethiopia mosque sit-ins see deaths, arrests: protesters
Egyptians pelt Clinton motorcade with tomatoes
"Protesters threw tomatoes and shoes at Secretary of State Hillary Clinton's motorcade on Sunday during her first visit to Egypt since the election of Islamist President Mohamed Mursi."

## Energy/resources ##
Corn Ethanol Producers Enter A Perfect Storm
"Corn ethanol producers are shuttering plants, some of them permanently, in the face of losses of up to $0.20/gal."
Bahama island-wide blackout
Hidroelectrica to cut power output by 50pct from August on drought (Romania)
Israel Electric Corporation warns of blackouts as heat wave peaks
"The IEC is calling on the public to refrain from using high-consuming electrical appliances such as washing machines, dishwashers and ovens during the afternoon hours."
Electrical and Water Supply Diminished by Current Heat Wave (Tunisia)
Rebounding US Oil Production: The Historical View
The bottom line is that junk oil is dependent on high oil prices, while high prices are killing the economy. Not all oil is created equal. -- RF
UAE opens pipeline to bypass Strait of Hormuz
Dark Energy: Prices Undercut Oil Services
Saudi Arabia and What Lies Ahead

## Infrastructure scavenging ##
Copper thieves hit Terrebonne power substations (US)

## Got food? ##
Global food crisis looms as importers sit out grain price highs

## Environment/health ##
Fugitive Methane Caught in the Act of Raising GHG
"It turns out that greenhouse gas (GHG) emissions are much higher from using natural gas to produce electricity than from using coal. So much for the myth that replacing coal with gas will help stave off global warming."

## Intelligence/security/internet ##
Social networks scan for sexual predators, with uneven results
Verizon Claims Right to "Edit" What You See on the Internet
NSA Whistleblower: Spy Agency Gathering Info on 'Virtually Every US Citizen'

## Systemic breakdown ##
You can't just do one thing (Richard Heinberg)
Good read on why we must understand the systemic nature of problems. -- RF
Oxford computing prof claims overpopulation is at the root of all the planet's troubles
TV channel blackouts becoming more common as profits stall
"Trade-Off": A Study In Global Systemic Collapse
Resilience through simplification: revisiting Tainter's theory of collapse (part 2)

## Japan ##
SMBC first major bank to accept deposits in yuan
"Sumitomo Mitsui Banking Corp. will become the first megabank in Japan to accept deposits in yuan from individual customers, recognizing the growing demand as it becomes a major global currency and a potentially  lucrative investment."
Reported domestic violence cases up by 46.3% so far this year

## China ##
China's "Heart Attack" In June: Beijing Overstated Q2 Growth
Skyscraper Index suggests coming end to China's boom times

## UK ##
Olympic lanes could be suspended if London traffic is gridlocked

## US ##
Pawn shops are going upscale for affluent clients
Tsunami of boomer mental illness looms
Scottsdale silent on facility for police
The rising credit risks in US student loans
Scranton, Pennsylvania: where even the mayor is on minimum wage
James Carville: Middle Class 'Hit by a Truck'

And finally‚Ķ Court laughs as 'bedridden' man walks

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