Monday, July 02, 2012


News Links, July 2, 2012

## Global Ponzi meltdown/House of Cards ##
Global IPO Market Keeps Shrinking
"The global IPO market continued its downward track in the second quarter, notching its fourth consecutive period of declining deals in nearly every corner of the world."
Spain shrank further in second quarter, government to push reforms
Emiratis owing far too much, too young
"A survey says an astonishing 70 per cent of young Emiratis in Abu Dhabi are in debt, mostly through bank loans and credit cards. There are worries that they are being too easily lured into a 'buy today, pay tomorrow' lifestyle."
You'd think they were shocked at finding gambling going on in a casino. Surely they are aware that debt expansion is what floats the Ponzi-scheme global economy. Debt — lots and lots of it — is what created and sustains today's UAE (not to mention the rest of the world). And we know how this will end. -- RF
Banking scandal: how document trail reveals global scam
Gold reentering monetary system

## Fault lines/flashpoints/powder kegs/military/war drums ##
Xinjiang 'hijacking' shrouded in mystery (China)
Nigeria, a rugged road to high returns
"Bomb blasts, gun attacks, airline crashes, kidnappings, industrial-scale oil theft, armed robberies and fraud costing billions of dollars."
Iraq June monthly toll one of highest since U.S. exit
"June was one of the bloodiest months in Iraq since U.S. troops withdrew at the end of last year, with at least 237 people killed and 603 wounded mainly in bomb attacks, a tally by Reuters showed on Sunday."

## Global unrest/mob rule/angry people/torches and pitchforks ##
Rare protest in Vietnam over China claims to offshore oil blocks
"Hundreds of Vietnamese demonstrated in Hanoi on Sunday against China's moves to strengthen its claim to disputed islands in the South China Sea and its invitation to oil firms to bid for blocks in offshore areas that Vietnam claims as its territory."
Protests held as Japan returns to nuclear power
"Hundreds have gathered near the plant in the town of Ohi to protest the move, which has divided public opinion."
'Social protests' continue across Israel
Omanis protest in sign of renewed discontent
100,000 march in Hong Kong on 15th anniversary of handover

## Energy/resources ##
Iran Oil Sanctions Starting Risks Biggest OPEC Loss Since Libya
A new Energy Report from Harvard makes unsupportable assumptions
European are not stealing Libya oil - Official
"Gulf News cited Mr Daivd Bachmann commercial counsellor and head of economic and commercial section at the Austrian Embassy in Libya as saying that the European Union is not stealing Libyan oil and investors from Nato countries exited the oil sector during the Gaddafi era. We are not stealing Libyan oil. We pay for what we get."

## Got food? ##
Orchard owners warn of 'apple-ocalypse'
"Britain's cold, wet spring has been disastrous for apple-growers, with crops down by as much as 50% from expected levels."
Moldy matters: How wasted food is destroying the environment
Birdbaths Are Good for the Garden

## Environment/health ##
Spanish forest fires rage out of control near Valencia
Pincushion America: The irretrievable legacy of drilling everywhere on drinking water
Japan's 10 Most Dangerous Reactors Face Korea

## Intelligence/security/internet ##
Survey OF Effects Of Cloud Outage Shows How Much Of The Web Runs On Amazon
Ad Biz Claims It Must Disregard User Privacy Choices to Safeguard "Cybersecurity"
Your E-Book Is Reading You
BlackBerry services in UAE suffer disruption
Cloud outage report of 13 providers reveals downtime costs

## Systemic breakdown ##
Surge in violence spurs new fears in Iraq
"A half year after the U.S. military left Iraq, dire predictions seem to be coming true: The country is mired in violence and the government is on the verge of collapsing. With no relief in sight, there's growing talk of Iraq as a failed state as al-Qaida's local wing staged near daily attacks that killed at least 234 people in June."
Mainstream Economics is a Cult
Dambisa Moyo: 'The world will be drawn into a war for resources'
"The controversial writer and economist on why she believes the economic rise of China, combined with the west's complacency, leaves us facing a future of terrifying global instability."

## Japan ##
Ohi on a rainy day (photo report on the protest at Ohi NPP)
Temperature climbing in No. 4 reactor's pool after cooling system knocked out
Small amount of cesium detected in Fukushima children's urine
Feed-in tariff era gets under way
Utilities may hit limits soon on wind power-generated electricity
"A feed-in tariff (FIT) system that obligates electric power companies to buy renewable energy-generated electricity at fixed prices from companies or individuals kicked in on July 1...
"However, the total volume of wind power-generated electricity the utilities decided to purchase by June 30 has already reached 70 percent of the limit set by those firms, sources said."
Governor threatens U.S. bases on Okinawa over Osprey deployment
"Okinawa Governor Hirokazu Nakaima threatened to demand the closing of all U.S. military bases in Okinawa Prefecture if the planned deployment of the new transport aircraft MV-22 Osprey proceeds."

## China ##
The Decline and Fall of China's Renminbi
China's Manufacturing Growth Weakens as New Orders Drop
Beijing residents say inflation at unacceptable level
China June official PMI hits 7-month low

## UK ##
Cable: The City is a massive cesspit

## US ##
Jumping off the fiscal cliff
"Members of Congress from both parties are increasingly mulling the unthinkable: going home in December without acting to avoid the $4 trillion in tax hikes and deep spending cuts known as the fiscal cliff."
More cities scaling back or eliminating fireworks displays
More heat, storms loom for battered East
Gas prices, car sales to take a fall
77% of JP Morgan's Net Income Comes from Government Subsidies

And finally… Case study: Man gets headaches from porn

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