Monday, July 30, 2012


News Links, July 28, 2012

## Global Ponzi meltdown/House of Cards ##
Eurocoin Falls, Points To Deepening Euro-Zone Contraction
Spanish unemployment hits record high
Spanish Banks Hit by Real-Estate Woes
Renault profits hit by weak European sales
Spain discusses state bailout; ECB seen writing off Greek debt
World's Richest Gain $15.2 Billion as Global Markets Rise
"The richest people on the planet added $15.2 billion to their collective net worth this week as global markets rose on speculation that Europe will move to ease borrowing costs in Italy and Spain."
After Nov. 7, 2012, You'll Want to Be Outside the USD
America's CFOs Admit: Lots of Companies Are Fudging Their Numbers
Saudi Arabia seen leading MENA construction boom
It will be interesting to see how many projects are abandoned. -- RF
Huge Physical Gold Shortage Looms

## Airline Death Spiral ##
Another Airline Folds: Delta to Shut Down Comair in September
Aircraft engine overhaul company to close (Australia)

## Fault lines/flashpoints/powder kegs/military/war drums ##
Pakistan Cuts NATO Supply Route Again, Citing Security Concerns
Assad hands control of Syria's Kurdish areas to PKK, sparking outrage in Turkey
Iran Launches its First Ever Domestically Produced Aframax Oil Tanker
Chinese garrison officers appointed
Rivals China, Taiwan may pair up on South China Sea project
"Historic rivals China and Taiwan may be edging closer to a possible partnership over territorial rights in the South China Sea and the Spratly (Nansha) Islands, which is alarming other southeast Asian nations that have their own claims."
Admiral: Russia In Talks On Cuba, Vietnam Naval Bases
Russia denies plans for new navy bases abroad
Pipeline grid to bypass Hormuz vulnerable
"The United Arab Emirates and Saudi Arabia have developed a pipeline network across the Arabian Peninsula to bypass the strategic Strait of Hormuz, a key oil artery that Iran threatens to close. But this could still be vulnerable to sabotage."
US bunker-buster bomb 'ready to go'
"The US Air Force's massive 30,000lb bunker-buster bomb critical for striking heavily fortified Iranian nuclear facilities is 'ready to go'"
US to station forces in Poland for first time

## Global unrest/mob rule/angry people/torches and pitchforks ##
Saudi Arabia protest followed by arrests in Qatif
Italian pharmacists hold strike against cuts
Protesters blockade Mexico's biggest TV station

## Energy/resources ##
Ten Reasons Why Fracking is Doomed
Although I agree that fracking is doomed, I do not share the author's rosy outlook on renewables. -- RF
Bulawayo power station collapses (Zimbabwe)
Weak Gas Prices Hurt ExxonMobil's Upstream Earnings
ExxonMobil says Lower 48 rig count down 27% on reduced gas prices
Energy Prices Hit 2Q Results at Europe's Majors
BG Takes $1.3B Impairment on U.S. Shale Operations
S.Africa aims to cash in on E.Africa energy boom
South Africa had better concentrate on keeping the lights on at home. -- RF
S Korea Oil Imports from Iran Seen Restarting
U.S. oil deliveries by rail increasing

## Infrastructure scavenging ##
Metal thieves targeting storm grates in Union City
Metal thieves steal catalytic converters off dealer lots
Now metal thieves target lampposts

## Got food? ##
The Age of Scarcity
Food Report: One Harvest Away from a Catastrophe

## Environment/health ##
Greece's Latest Crisis: Rising HIV Cases
Great Lakes Water Temperatures At Record Levels
Whooping cough outbreak spreads to very young babies (UK)

## Intelligence/security/internet ##
Hackers Linked to China's Army Seen From EU to D.C.
Android and Nokia MeeGo phones hijacked via wallet tech
"A skilled hacker has shown how to hijack a smartphone via a short-range radio technology known as Near Field Communication (NFC)."
Google Admits It Did Not Delete Data Taken From Wi-Fi Devices

## Systemic breakdown ##
Expert: Power network collapse looming (South Africa)

## Japan ##
Defense minister says Japan may send military to disputed islands
No. 1 workers' radiation doses soared 16-fold
"The cumulative annual radiation doses of workers at the Fukushima No. 1 plant rose more than 16-fold from the year before during the first year of the nuclear crisis, Tokyo Electric Power Co. data show."
Soil issue buried for lack of storage
"More than 15 months after the Fukushima disaster started, municipalities hit by the fallout are struggling to dispose of radioactive soil collected under decontamination efforts."
Japan consumer prices fall 0.2% in June, down for 2nd straight month
7 Utilities See Highest Power Demand So Far This Summer
"Electricity demand in areas served by seven utilities climbed to the highest levels seen this summer during peak daytime hours Friday, as hot weather spurred use of air conditioning."

## China ##
China Industrial Companies' Profits Drop for Third Month
Harrowing week hurtles to tragic end in Chinese steel market
China Said to Tell Edible-Oil Suppliers to Keep Price Stable
China censors aftermath of deadly Beijing storm
"The storm that ravaged Beijing nearly a week ago and killed at least 77 people remains a sensitive topic in China, with a newspaper ordered to cut its coverage and online discussions curtailed."

## UK ##
Tech glitches affect NatWest & Nationwide customers

## US ##
Turf Painting Spreads as Drought Ravages Lawns
Two dead, over 130,000 without power after fierce storms
How horrid? July on pace to be hottest month on record
Lawmakers hopeful no U.S. govt. shutdown
Bankruptcy Shift Wouldn't Ease Much Student Debt
GDP growth slows to 1.5 percent in June
Obama team projects $1.2T deficit this year
Half of recent college grads underemployed or jobless, analysis says
Sharp Decline in Earnings and Revenue Estimates; Chart Explains Four Major Waves of Earnings Growth
Dow Rallies Above 13,000 on Speculation ECB to Buy Bonds
Mapping The Mounting Muni Meltdown
Meredith, baby, we love ya! -- RF
Forecast: 89,000 civilian job cuts at DoD under sequestration
Mark Zuckerberg's net worth falls by $7.2 billion

And finally‚Ķ Crisis is over for the UAE, says Sheikh Mohammed
"Turmoil is ripping through the euro zone and growth is flagging elsewhere in the world but for the UAE, the crisis is over, Sheikh Mohammed bin Rashid, Vice President of the UAE and Ruler of Dubai, said yesterday."

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