Sunday, July 22, 2012

 

News Links, July 23, 2012

## Global Ponzi meltdown/House of Cards ##
'Black Friday' Blame-Game Escalates As Spain Is Out Of Money In 40 Days
Greece seeks billions of euros more in cuts
IMF Seeks to Halt Aid to Greece; September Bankruptcy Awaits; Dominoes Will Fall
Flood risk rampant across Asia's factory zones
"Global insurance companies are struggling to get a grip on their flood exposure in Asia nearly a year after one of the world's costliest disasters hit Thailand, with executives fearing an even worse event looms in the region."
The Disastrous 40-Year Debt Supercycle Is Coming To an End (interview with David Stockman)
Offices stand empty in tallest tower, the Burj Khalifa
Monetary Insanity: ECB Considers Negative Interest Rates
World's super-rich 'hid $21trn in secret tax havens'
Banco Santander To Shut 96 UK High Street Branches - Report

## Airline Death Spiral ##
American Airlines reports loss, despite record revenue

## Fault lines/flashpoints/powder kegs/military/war drums ##
US Abandons 'Diplomatic' Efforts, Aims to Forcibly Oust Syrian Govt
Islamic fighters flocking to Syria
Shots fired from Egypt at Israeli troops, none hurt
Blast rocks Egypt's gas pipeline to Israel, Jordan
"An explosion on Sunday rocked the Egyptian pipeline built to carry natural gas to Israel and Jordan, the 15th time it has been attacked since the start of the uprising in early 2011 that toppled President Hosni Mubarak."
China to formally garrison disputed South China Sea
"China's powerful Central Military Commission has approved the formal establishment of a military garrison for the disputed South China Sea, state media said on Sunday, in a move which could further boost tensions in already fractious region."
Bombs kill 20 and wound 80 across Iraq

## Global unrest/mob rule/angry people/torches and pitchforks ##
More protests in Spain amid escalating financial crisis
Vietnam activists hold another anti-China rally
Anti-government demos in Bahrain
Guyana seeks to end violent protest over electricity rate increase
Wheelchair-bound Israeli veteran sets himself on fire
Thousands Take to Mexico City Streets in Election Protest
Philippines workers in Saudi 'on hunger strike'

## Energy/resources ##
Green power failure
"The Amonix solar manufacturing plant in North Las Vegas went belly-up last week, closing its 214,000-square-foot facility just a year after it opened and becoming the latest tax-subsidized alternative energy operation to go bust."
Fool me twice, shame on me: The oil industry repackages the fake abundance story (from the late 1990s)
"That was the industry's story right before a decade-long climb in oil prices that ended with an all-time high in 2008. Only the oil industry would now have the audacity once again to peddle a story that it has gotten wrong for more than a decade as if it were brand new. Enlisting the media and its army of paid consultants, the industry is once again telling the public that oil abundance is at hand. And, what is doubly audacious is that it is promoting this tale as oil prices hover at levels more than eight times the 1999 low. Clearly, the industry is counting on collective amnesia to shield it from ridicule."

## Got food? ##
Indian port congestion hits grain supply as prices spike
"Congestion at Indian ports is delaying corn and rice shipments to Asia and Africa, dealing a fresh blow to buyers stung by record-high global grain prices  as a worsening US drought threatens to spark a shortage in food supply. Ships faced up to 25 days of waiting at ports on India's east coast, traders and port officials said on Friday, delaying cargoes to millers who are heavily relying on cheaper South Asian shipments amid tight US and South American supplies."
Report: US has fewest cattle in at least 4 decades
Forget Corn, Is Soy Poised For Lift-Off?

## Environment/health ##
Coca-Cola, PepsiCo can't ignore health issues
"Coca-Cola (KO -0.67%), PepsiCo (PEP -0.66%) and the rest of the carbonated beverage industry can't afford to ignore Thursday's call by health activists and some cities for the U.S. Surgeon General to conduct a comprehensive study on the health effects of soda, much like the landmark report on the dangers cigarette smoking decades ago."
Water scarcity in the tropical Andes: Population growth outweighs climate change
In pictures: Beijing's deadly deluge

## Intelligence/security/internet ##
New lab working on security shoe sole to ID people
Senators revive cybersecurity bill, with changes
McClatchy joins quote-approval opposition
Make Your Own Remote-Control Spy Blimp
The Power Strip That Lets You Snoop On An Entire Network
It's Terrifying and Sickening that Microsoft Can Now Listen In on All My Skype Calls

## Japan ##
Organizers getting fatigued from growing anti-nuke protests
"As crowds of anti-nuclear protesters near the Prime Minister's Official Residence reach as many as 90,000, the networks of small groups that have organized the Friday night demonstrations are becoming victims of their own success."
Japan's steelmakers see profit dive 80% in April-June quarter

## China ##
Beijing chaos after record floods in Chinese capital
Vacations are becoming more expensive in China
Profit at major Chinese state companies down

## UK ##
Vegetables imports on shelves as rainfall leads to British shortages
"Supermarkets are being forced to import vegetables from abroad after the wet and cold summer weather has led to many traditional British crops running late and reduced yields."
Milk dispute: Dairy farmers in third night of protests
Farmers, forestry workers and fishermen happier than the rest of us, ONS study to find

## US ##
U.S. poverty on track to rise to highest since 1960s
More Americans Put Off Medical Treatment as Costs Rise
The Real Cost of a Sweltering Summer
Drought casting shadow on Deere, ADM's outlook
Energy emergency declared in northeast Wisconsin after fuel pipeline shutdown
Commentary: Texas GOP wages war on thinking
U.S. economy moving sideways again

And finally‚Ķ 21 burned in walk over hot coals at Tony Robbins event




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