Wednesday, July 25, 2012


News Links, July 26, 2012

## Global Ponzi meltdown/House of Cards ##
Spain feels debt heat, Greece way off bailout terms
Falling Global Rates Boost Appeal of Japan
Peugeot to make deeper cuts after 819m euros loss
Germany Is No Longer a Safe Haven
'Red Alert' From Safe Haven Bond Markets: Barclays
Moody's Cuts Outlook on EU Stability Facility to Negative
UPS says global economy getting worse, customers are 'nervous'; weakness in Asia and Europe
GM shuts down Brazilian plant amid fears of disturbances
"The Brazilian subsidiary of General Motors Co. says it has temporarily shut down its eight production units near Sao Paulo amid fears of unspecified action by a local union that warns of imminent mass dismissals."
Latin American crude steel output down by 2pct YoY in H1 2012
Markets Between 'Despair and Panic': Pro
ECB Survey, Ifo Point to Deepening Gloom

## Airline Death Spiral ##
What airline fees are coming next?
Nigeria: Ministers, Experts Blame Aviation Crisis On EU Ban

## Fault lines/flashpoints/powder kegs/military/war drums ##
Congress pushes to finalize new Iran sanctions package
War and debt: Commodities trading houses cash in
"Gripped by U.S. and European oil and banking sanctions, Iran has become a profitable trade for grains suppliers including U.S.-based Cargill and Bunge, France's Louis Dreyfus and Glencore."
China stepping up military ties with Kabul
"The visit by the Afghan Defence Minister Abdul Rahim Wardak to China and his talks with the Chinese Defence Minister Liang Guanglie in Beijing earlier today, Tuesday, will signify the shift to a new level in the military cooperation between the two countries. Liang is also a state councilor."
Has The South China Sea Reached Boiling Point?
"Now that China has backed up its claim to two million square kilometers of the South China Sea with some PLA muscle, confrontation with its Southeast Asian neighbors with overlapping and competing claims is almost sure to turn ugly."
Taiwan reinforces military deployment in South China Sea
Vietnam, Philippines refuse to recognize China's Sansha district
Syrian troops surge towards Aleppo as Turkey to close all borders

## Global unrest/mob rule/angry people/torches and pitchforks ##
Anaheim hit by more protests over police shooting
"Protesters broke windows of least a half-dozen storefronts in Anaheim on Tuesday and five people were arrested in the second major clash between police and demonstrators since an officer shot dead an apparently unarmed man."
Power protests across Punjab, KP
"In various cities the traffic remained jammed for several hours due to burnt tyres and big hurdles placed by the enraged protesters."
Dairy farmers protest ahead of supermarket talks
Report Finds 'Widespread Human Rights Violations' In Policing Of Occupy Protests

## Energy/resources ##
Bears Burst Bakken Bubble
"Analysts in the United States expressed concern that, if U.S. crude oil prices continue to fall, development of shale oil fields in North Dakota could slow down."
Russia's Gazprom skeptical of US-led shale gas boom
"Russia's state-owned natural gas company says the US shale-gas boom is economically unsustainable -- and it's buttressing its claim with financial data collected by an American consulting firm located less than 20 miles from the White House."
Exactly what I've been saying all along. -- RF
Chinese Solar Manufacturers Face Blowback As Trade War Escalates
Michigan governor declares emergency over fuel shortage
"Michigan Governor Rick Snyder on Tuesday declared an energy emergency in the state due to temporary shortages of gasoline and diesel fuel in parts of the Upper Peninsula caused by the shutdown of a pipeline in Wisconsin."
Iraq Refuses to Cooperate with U.S. Oil Firm Chevron
CNOOC's Nexen Bid Shows How Far Goal Posts Have Moved
Power outage continues to grip Grand Cayman

## Infrastructure scavenging ##
Ski signs stolen
"There has been a series of thefts in the US resort of Telluride. A dozen marker posts have vanished at a cost of $3,500. It is not as bad as a resort in the Czech Republic where a whole ski lift was taken earlier this year."

## Got food? ##
High edible oil, coarse cereal price to hike India's food inflation rates in coming months
Soaring soy sparks Indonesian tofu shutdown
"Indonesia's tofu industry is shutting down production of the staple food product in protest against rising prices."
Fears over yields as harvest gets rolling (Ireland)
Political crisis over, Yemen now faces a lack of food
Meat Producers And, Ultimately, Consumers Hurt By Drought
Food Inflation May Rise to 3% to 4% in 2013 After Drought

## Environment/health ##
Top Ten Things Climate Change Is Making Worse Right Now
Massive Ice Melt In Greenland Worries Scientists
Doing Some Math on Fracking Propaganda

## Intelligence/security/internet ##
Iran Nuclear Plants Hit By Virus Playing AC/DC, Website Says
Spooky: How NSA's Surveillance Algorithms See Into Your Life

## Systemic breakdown ##
Companies Say 3 Million Unfilled Positions in Skill Crisis: Jobs

## Japan ##
Fukushima - Local Children Unwitting (and Unwilling) Radioactive Guinea Pigs
Strontium 90 levels in Kanto, Tohoku rise after Fukushima meltdowns
Seawater inflow accident could lead to decommissioning of Hamaoka nuke reactor
Tepco plans to restart Fukushima plant reactor5, 6 and Daini
Gov't officially approves TEPCO plan to hike household electricity bills from Sept 1
Some Fukushima workers may have been illegally recruited
Japan Posts Record Deficit
Fuel imports put trade deficit near ¥3 trillion
BOJ Ready to Loosen Monetary Policy Further
Canon cuts profit forecast on slowdown fears
Sharp plans to slash thousands of jobs

## China ##
China's CIC Has Worst Overseas Performance in 2011 Amid Slowdown
"China's sovereign wealth fund posted a 4.3 percent loss on its overseas investments last year as declines in global commodity prices roiled the value of its resources-heavy portfolio."
Doubts about death toll from Beijing-area rain fuel new suspicions about China's leaders
Black Monday overshadows terrible Tuesday in China
"Day 2 into week 30 diarrhea continued in the Chinese steel market. Steel prices lost 2% in the first 2 days leaving everybody clueless about when the bottom will be reached."

## UK ##
Fortress London: UK protects Olympics with biggest security plan since World War II
£10,000 of diesel stolen from Crawfordsburn filling station
Renewable energy: Onshore wind subsidy to be cut by 10%
Thousands of nurses cut from the NHS: official figures
Cost of car insurance soars to more than £1,000
U.K. Economy Shrinks Most in Three Years on Weather, Jubilee
UK GDP Disaster Far Worse Than It Looks; UK Growth in 2012 "inconceivable"

## US ##
Economic distress does a number on children
Calif. police shootings spark 4th night of protest
Richmond Fed: Recession
Black Americans Have Suffered an Historic Wipeout of Their Wealth, With Few Signs It's Coming Back
100 Million Poor People In America And 39 Other Facts About Poverty That Will Blow Your Mind
"Actual" New Home Sales First 6 Months of 2012 vs. Prior Years; Reflections on the Housing Recovery
Pension funds seriously underfunded, studies find
"Public pension funds and company pensions in the U.S. are far short of the money needed to meet their retirement obligations, studies find."
Chinese buying of U.S. business at record pace
Snake Eyes Earnings Report For Las Vegas Sands

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