Saturday, July 21, 2012


News Links, July 22, 2012

## Global Ponzi meltdown/House of Cards ##
Global QE Is Coming: Let the Gold Mania Begin!
"Nearly 50% of the total outstanding debt of the world's top 10 debtor nations needs to be rolled over by the end of 2015."
IMF economist accuses Fund of suppressing information
"A veteran economist at the International Monetary Fund has accused the global lender of suppressing information on difficulties in dealing with the global financial meltdown and euro zone crisis."
Death Spiral in Spain; Six Spanish Regions Seek Aid; Bankrupt Spain to Bail out Bankrupt Regions
European Contagion Turns Into Domino
Capacity concerns trigger more rate fears for shipping lines
As Opel bleeds red in Europe, could GM sell it off?
EU Steel Demand To Remain Depressed For Longer -Eurofer
Europe: Economy Terminal, Devalue or Die

## Airline Death Spiral ##
O'Hare revenue bonds downgraded
"O'Hare International Airport revenue bonds were downgraded Friday, a reflection of several factors that include the slow growth in passengers and the bankruptcy of the airport's No. 2 carrier, American Airlines."
Buyouts and busts in the U.S. airline industry
Korean Air sinks to 2Q loss despite 11% revenue rise
Chinese Airlines Suffer Losses in 2012
Airfare continues to climb; up 5.5 percent
Who's Minding the Planes? Airlines' Overlooked Security Risk

## Fault lines/flashpoints/powder kegs/military/war drums ##
Barak Orders Israeli Military to Prepare for Syria Invasion
Attack on Turkey-Iraq pipeline knocks out oil flows: report
"Turkish authorities are blaming sabotage for a fire on a pipeline carrying petroleum from Iraq to Turkey's Mediterranean coast that cut oil flows late on Friday, NTV television said."
NATO says it's winning war against Somali piracy
If it weren't for the pirates, some other excuse would have to be found to constantly keep all that naval power deployed in this oil-rich region. -- RF
Iran introduces tiered exchange rates for imports
Persian Gulf primed to explode

## Global unrest/mob rule/angry people/torches and pitchforks ##
Guyana protest over higher electricity rates spilling into other areas
Students protest education cuts (New Zealand)
"Students drowning in debt rallied together today to protest against drastic budget cuts to the education industry."
Clash at Greek steel plant stirs political spat
"Riot police used tear gas against striking steel workers Friday, in a rare government intervention into a labor dispute to break up picket lines that have closed a factory outside Athens since Oct. 31  last year."
Bahrain Clashes: Thousands Of Anti-Government Protesters Clash With Riot Police
Mexico City detains 226 after flash mob violence
Spanish protests swell as jobless march on Madrid
Anti-nuclear Friday movement spreads beyond capital (Japan)

## Energy/resources ##
Japan shippers to resume loading Iranian oil on Friday-sources
Electricity rationing deals heavy blow to economy, businesses (Lebanon)
"Dwindling electricity supply presents a major setback to economic growth, economists said as local businesses in and around the capital complained that the power crisis had become 'unbearable.'"
Lubbock's lights back on following massive overnight failure (US)
Warning over oil production drop
"An expert in the economics of Britain's oil and gas industry has warned of sharp falls in production over the next five years."
Power cuts in north Delhi
Norway's REC sees continued solar price falls
Tight helium sinks Canada balloon sales
El Nino a double blow to coal exporters
Another Biofuel IPO Shelved
"For the second time this year, a start-up company has shelved a planned IPO. This time its Coskata Inc., an Illinois-based company that manufactures ethanol from any carbon-based material. In April, Canada's Enerkem Inc. withdrew its planned IPO."

## Got food? ##
Global Tea output falls on adverse weather conditions
Global Wheat price rises by 21% to $347/ton

## Environment/health ##
Natural Building with Earth
France not budging on fracturing ban

## Intelligence/security/internet ##
Russia: Controversial NGO bill becomes law
Finance Ministry PCs hit by viruses (Japan)

## Systemic breakdown ##
The new feudalism: corporatizing our common life
America Heading Towards a Collapse Worse Than 2008 AND Europe! Says Peter Schiff

## Japan ##
Japan probes under-reporting of Fukushima radiation dosage
"Japan's health ministry said it would investigate reports that workers at the stricken Fukushima nuclear power plant were urged by a subcontractor to place lead around radiation detection devices in order to stay under a safety threshold for exposure."
TEPCO subcontractor used lead to fake dosimeter readings at Fukushima plant
Japanese government shamelessly undermines the independence of Nuclear Regulatory Commission
Opposition's refusal may delay N-plant restarts / Personnel proposal must pass Diet soon to avert possible power shortage in winter months
Chugoku Electric intended to dispatch worker to public hearing to support nuclear power

## China ##
China's Biggest Companies Warn Of Profit Plunges Up To 80%
China eyes global oil futures prize
"The Shanghai Futures Exchange (SHFE) is planning to start up an oil futures market within months and has made reassuring noises that foreigners will be allowed to participate fully."

## UK ##
China in talks to build five new reactors in UK: paper
"Chinese nuclear firms are considering investing 35 billion pounds in building up to five new nuclear reactors in Britain, a newspaper reported on Saturday."
It's highly unlikely they will ever be built. -- RF
Royal family members may lose guards
Tractors block dairies as ministers step into row over milk prices
"Ministers are due to meet with dairy farmers, supermarkets and milk processors in a bid to avert further blockades due to protests over low milk prices."

## US ##
Nebraska, Not California, is King of Municipal Collapse
America moves inexorably closer to the Grand Muni Bond Bust. -- RF
Steelmaker Presses for 36% Pay Cut
"Top U.S. steelmakers, facing falling demand and profits, are pushing for steep concessions from the United Steelworkers of America in two new labor pacts for nearly 26,000 workers, union officials said."
Witness: Someone let gunman inside Colorado movie theater
"Big Ben" goes before Congress — here's what we learned!
Countrywide whistleblower reveals rampant mortgage fraud part of 'everyday business'
California's Employment Picture
"Overall, based on state energy consumption, revenues, population growth, poverty levels and food stamp use, it's not clear whether California's economy is growing, if at all."
Bank failures reach 38 for year
Bank Contractors Break Into Occupied Homes, Terrify Residents, Lawsuits Say
Gas well blows out in Mississippi

And finally… Crack team of Chinese officers rush to rescue sex doll from river

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