Monday, July 16, 2012


News Links, July 17, 2012

## Global Ponzi meltdown/House of Cards ##
IMF cuts global growth forecast as emerging economies slow
Fewer U.S. companies planning to hire; Europe looms: poll
Great Spanish Fire Sale: Madrid Region to Sell 100 Office Buildings Amid Austerity
"Madrid's regional government plans to sell 100 office buildings in the center of the Spanish capital over three years to cut its deficit and pay for services as the country makes its deepest budget cuts on record."
Falling oil puts pinch on economy (Canada)
Peugeot Has 51% Chance of Debt Default; Hollande Says France Will Not Let Peugeot Lay Off Workers
IMF Says Japan And Spain Are Done, "Debt Ratio Will Never Stabilize"
U.S. growth forecasts slashed after weak data

## Airline Death Spiral ##
Regional airlines cut costs at price of safety
In Bankruptcy, American Airlines Looks At All Options

## Fault lines/flashpoints/powder kegs/military/war drums ##
US Empire of Bases Grows
U.S. Navy fires on fishing boat near UAE; 1 killed
US sends aircraft carrier to Gulf as tensions are raised
Armor heads for Damascus districts after heavy clashes
Egypt is focus as Clinton visits Israel after nearly two years
Israel Tests Iron Dome Battery in Eilat
UAE arrests group planning 'crimes against state'
South China Sea code of conduct aimed at containing China: Sankei Shimbun
Secretive North Korea ditches top military man, purge seen
Bomb targets third Afghan politician in three days

## Global unrest/mob rule/angry people/torches and pitchforks ##
Japan Nuclear Protest: More Than 100,000 Protest Nuclear Power In Tokyo
HSBC asks court for Occupy eviction in Hong Kong
March to protest reopening of NATO routes
Yale-Singapore Venture to Forbid Political Protest
South Korea's Biggest Car Makers Face Fresh Strikes
20 held during protest against power cuts (India)
Power cut protest blocks street (China)

## Energy/resources ##
OPEC's Motto: Shhhhh! Don't Mention the 'S' Word
The Power Company Chokes Your Electricity During Heat Waves—Protect Your Gear (US)
Fault cause three-hour blackout in Barbados
Heat Causes Power Outage
High Temps, Heavy Power Demands Create Further Outages

## Got food? ##
Farmers "Thinking of Chopping Their Corn Up and Feeding It to Cows"
Worst-in-Generation Drought Dims U.S. Farm Economy Hopes
Corn Futures Rising Again

## Environment/health ##
Worst Drought Since 1998 (slide show)
U.S. drought grows to cover widest area since 1956
Korean Drought Worst In A Century For North And South Korea
More than 381,000 infected in Chinese outbreak
Activists block Shell gasoline stations
Radiation On West Coast of North America Could End Up Being 10 Times HIGHER than in Japan

## Intelligence/security/internet ##
That's no phone. That's my tracker.
"The device in your purse or jeans that you think is a cellphone — guess again. It is a tracking device that happens to make calls. Let's stop calling them phones. They are trackers."

## Systemic breakdown ##
James Howard Kunstler: It's Too Late for Solutions

## Japan ##
Japan's Anti-Nuclear demonstrators get louder and adamant
693 hospitalized nationwide for heatstroke
Crumbling infrastructure: Damage found at over 130,000 spots on Japan's urban expressways: Mainichi survey
"Some 130,000 spots in need of repair have been found on Japan's six urban expressways, pointing to a growing  maintenance backlog on the aging systems, a recent Mainichi Shimbun survey has shown."
Alarms go off during unit 4's restart in Oi
"Alarms sounded Sunday evening and early Monday at the Oi nuclear power plant in Fukui Prefecture, raising doubts about efforts launched Wednesday to restart the second reactor since the Fukushima nuclear crisis erupted in March 2011."

## China ##
China's Catastrophic Deleveraging Has Begun
China's Leader Goes On Tour To Drum Up Support For Economy
China Echoes 2009 Stimulus Planned Railway Spending Boost

## UK ##
Is the housing market grinding to a halt?
U.K. Pledges 9 Billion Pounds for Rail to Boost Growth
UK could use "lethal force" to protect airspace

## US ##
Ten-Year CDs Are the Latest Sign of a Yield Drought
U.S. Economy Appears Weaker as Retail Sales Slump
Largest public pension fund earns dismal 1%
"The nation's largest public pension fund collected a dismal 1% annual return on its investments, a figure far short of projections that will likely bring pressure on California's state and local governments to contribute more money, officials said Monday."
I've said again and again that pensions and "retirement" are going the way of the dinosaurs. -- RF
Only 23% of US Companies Plan to Hire in Next 6 Months; "Lights Out" Moment Coming Up
'Shadow REO': As Many as 90% of Foreclosed Properties Held Off the Market
Corruption and Mismanagement See Much of the US without Power
Your Summer Forecast: High Temperatures, Higher Food Prices

And finally… Woman fined $200 for dry grass in drought
Duh… -- RF

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