Monday, July 30, 2012


News Links, July 27, 2012

## Global Ponzi meltdown/House of Cards ##
Citi sees 90 percent chance of Greece leaving the euro
Unilever Warns of Worsening Economy
IMF agrees to lend $2 billion to Jordan
Is Global Trade About To Collapse? Where are Oil Prices Headed? A Chat with Mish
Alcatel to Slash Jobs After Loss
"Alcatel-Lucent SA shares slumped to new lows Thursday after the company burned through half a billion euros ($607.9 million) of cash in the second quarter of 2012 and announced a new cost-cutting plan to cope with its woes."
Facebook revenue growth skids, shares plunge
Philippine Central Bank Unexpectedly Cuts Interest Rate
United Technologies Cuts Outlook
"United Technologies Corp. cut its full-year profit and revenue forecasts, and said it plans to step up cost-cutting measures, as weakness in Europe contributed to slowing sales."
Peak gold? Barrick Gold Quarterly Earnings Miss Estimates as Output Falls
NovaGold Tanks on Barrick Decision
KiwiRail being stripped to sell - Labour (New Zealand)
Four Reasons Why the Government Is Destroying the Dollar

## Airline Death Spiral ##
Airlines abandon capital-city sector citing huge losses (India)
Higher fuel costs push Delta Airlines to 2Q loss

## Fault lines/flashpoints/powder kegs/military/war drums ##
U.S. Steps Up Militarization of Africa Through "Drug Wars"
China's hawks gaining sway in South China sea dispute
Iraqi Oil Showdown and the Syria End-Game
Top general urges officials to trim, re-think U.S. nuclear arsenal
Pentagon More Than Doubles Cost Estimate for B61 Nuclear Bomb
19 killed as Iraqi forces clash with militants

## Global unrest/mob rule/angry people/torches and pitchforks ##
Milk farmers continue Derbyshire Dairy Crest blockade
Four more self-immolations in Israel
Prices soar in Sudan, protests continue
Iran Protests: Price Hikes Prompts Rare Demonstrations

## Energy/resources ##
Persian Gulf turns to net gasoil imports
"The Persian Gulf region shifted to net gasoil imports in May, in what could be a game changer for a region that was traditionally a supply source, according to latest data on the Joint Organisations Data Initiative's website."
Should We Really Re-Elect This Fracking President?
"Fracking is the energy industry's answer to peak oil, catastrophically offloading the increased cost of oil and gas extraction onto farmers, ranchers, humans who drink water, and the environment itself. It's about as ethical and responsible as the brain deciding to mine the liver and sell the contents. And it's national energy policy under the Obama administration."
And despite this, they're losing money. -- RF
Why Gas Producers Are Getting Crunched by the Shale Boom
Iran builds first oil tanker for Venezuela
The great global Rubber crash
"Panic is indeed spreading in rubber markets worldwide and major growing nations Thailand, Indonesia and Malaysia are undertaking market intervention measures to shore up prices that have hit almost a three year low."
The Peak Oil Crisis: Middle Eastern Chaos
Lower oil prices weigh on Repsol profit
Saudis, Emirates push nuclear power plans
High oil prices are caused by consumers, not speculators
Concerns about blackouts (SKorea)

## Got food? ##
Drought afflicts 86 percent of the US Midwest, crops wilt
The world is closer to a food crisis than most people realize (Lester Brown)

## Environment/health ##
Protected tropical forests' biodiversity 'declining'
Millions of Birds Dead, Killed in Mexico Flu Outbreak
Deep Fried Black Swan Goes Global As Drought Spreads From US To Asia, And Now To Southern Europe

## Intelligence/security/internet ##
'Terrorist cell' in New Brunswick turns out to be NYPD hideout
Twitter: Data Center Problems Caused Outage
"Twitter blamed systems failures — not a crush of traffic around the Olympic games — for an outage on Thursday that saw people around the world experience problems accessing the micro blogging site for more than an hour."
Black Hat: Iris scanners 'can be tricked' by hackers
Google Talk outage hits 'majority of users'
Azure outage hits Western Europe

## Systemic breakdown ##
Gary, Ind.: From Bustling City to Ghost Town (PHOTOS)
Weather Extremes Leave Parts of US Grid Buckling

## Japan ##
4 dead, more than 900 hospitalized for heatstroke
Continued heat wave warned in August in Japan
Nissan profit down 15%, hurt by strong yen
Noda says SDF may guard Senkakus against intrusions by Chinese vessels
Rate hike to burden families / TEPCO's rate to increase by more than 10% for some families
Japan's deflation speeds up in June; yen falls

## China ##
Strained local governments in China look to tax probes for revenue
China Cities Roll Out Stimulus as Changsha Targets $130 Billion
China's sovereign wealth fund reports loss
Chinese steel mills likely to decimate global rivals after domestic debacle
China Shipyards Falter as Vessel Glut Triggers 49% Order Slump

## UK ##
London 2012 Olympics: ticket prices 'could be cut to make events sell out'
Tuition fees set to rise again next year
Students to face huge debts over £9,000 fees
Britain 'flew drones over Libya'

## US ##
House overwhelmingly approves Ron Paul's Fed audit despite 'nightmare' prediction
Dead cattle, devastation in wake of Western fires
World Trade Center projects becalmed
"A lack of tenants is stalling construction of new office space at Ground Zero in New York, where the World Trade Center towers once dominated the skyline.
"The building known as 3 World Trade Center is having such trouble finding tenants that construction has been halted at eight stories, one-tenth of its design, The Wall Street Journal reported Wednesday."
Oakland police radios fail during Obama visit
Foreclosures rise in first half of 2012
30-year mortgage rates hit record lows

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