Monday, July 30, 2012


News Links, July 31, 2012

## Global Ponzi meltdown/House of Cards ##
Japan Industrial Output Falls as Korea Confidence Sinks: Economy
Abu Dhabi's IPIC Reports a 96% Drop in Net Profit in 2011
Spain's economy shrinks 0.4% as recession deepens
IMF Predicts Euro Crisis Resolution Will Be Prolonged
Euphemistic way of saying that they are helpless and the situation will only get worse. -- RF
Eurozone Retail Sales Sink 9th Month; 17th Month of Contraction in Italy; Margins Collapse in France; Germany Barely Above Contraction
Do the Olympics cost too much for host cities?

## Airline Death Spiral ##
Boeing 787s under investigation after 'engine issue' on runway
Air France-KLM says net loss up to $1.1 bln in 2nd quarter on restructuring costs

## Fault lines/flashpoints/powder kegs/military/war drums ##
Saudi says detained Shi'ite cleric mentally imbalanced
"Saudi Arabia's interior minister said on Monday that a prominent anti-government cleric arrested earlier this month was mentally unstable, undermining a figure who has a growing following among disaffected Shi'ite Muslim youths."
China Disinterested in Western Sanctions on Iran
Qatar wants to buy 200 tanks from Germany - report
Daylight shoot-out rocks Kazakh financial capital
Russia to get stronger nuclear navy, Putin says
Panetta: All options on table for Iran
Philippine Coast Guard gets 12 new patrol boats from Japan
India Successfully Test Fires BrahMos Cruise Missile
Chinese Warship Crosses Suez, Possibly Bound for Syria
Turkey Threatens Attacks on Kurdish Region in Syria

## Global unrest/mob rule/angry people/torches and pitchforks ##
Blackouts return, so do riots! (Pakistan)
Thousands head to Capitol Hill to protest fracking
Qidong remains on high alert following violent weekend protests
Hundreds protest Anaheim police; 9 arrested

## Energy/resources ##
Massive India blackout leaves 300 million without power
Singh's $400 Billion Power Plan Gains Urgency as Grid Collapses
Railways experiences diesel shortage
"Pakistan Railways is once again facing a severe shortage of diesel. Officials said Sunday that there was just enough diesel left to operate trains in Lahore and other divisions for a few hours."
Insight: Oil pipeline crunch shifts U.S. shale race from drillbits to valves
"The U.S. shale oil revolution can't be stopped, but it could be delayed by a potential shortfall of 10-ton valves and giant pipeline pumps essential for rebalancing markets upended by the surge in production."
The Weekly Wrap (Foreign Policy)
An interesting read on the shale oil and shale gas "bonanza" in the US. -- RF
Shale oil, the biggest Gas guzzler in the US: Barclays
South Africa businesses put electricity crisis under the spotlight
China Keeps Buying Iran's Oil as U.S. and EU Intensify Sanctions
Monbiot peak oil u-turn based on bad science, worse maths

## Infrastructure scavenging ##
Thieves steal copper cabling worth £10,000 from railway line in Rutland

## Got food? ##
Crops in center of Corn Belt see little drought relief
Corn, soybean field conditions slide
"The nation's corn and soybean crops deteriorated in the week ending Sunday due to a prolonged heatwave and drought, the U.S. Agriculture Department reported."
East Africa: 16 Million People Facing Food Shortages in East Africa and the Horn
Future foods: What will we be eating in 20 years' time?
Home-grown stuff, wildlife, boiled leather, insects… if we're eating anything at all. -- RF
World Bank says rising food prices a concern, ready to help

## Environment/health ##
Unplug! Too Much Light at Night May Lead to Depression
Climate: Are you ready for a western megadrought?
National blood supply shortage (US)
Flooded North Korea hit by more torrential rain

## Intelligence/security/internet ##
2 South Koreans arrested in theft of data from 8 million cellphone customers
Police using 'predictive analytics' to prevent crimes before they happen
Experts: Cloud Brings Vulnerabilities
Cybercom Chief: US Unprepared for Serious Cyber Attacks

## Japan ##
Japan's June industrial output posts surprise fall
3 steelmakers log net losses for April-June
"Three of the four major steelmakers fell into the red during the April-June first quarter of fiscal 2012 due to massive appraisal losses on their share holdings, according to earnings reports released Monday."
Mounting Fuel Costs Push Kansai, Chubu Utilities Into Red

## China ##
A Private Look at China's Economy
China Railway Ministry to Sell CNY27 Bln Bonds in Early August - Sources
China Increases Railway Spending Plan for Second Time
Chinese shipping industry ebbs amid slowing economy
Chengdu facing monstrous realty bubble
Chinese photovoltaic enterprises stuck in financial quagmire

## UK ##
One on four pensioners need more money, AXA Wealth finds
"A quarter of pensioners need an extra £75 a week to pay for the increasing cost of food and fuel bills, research has found."

## US ##
Midwest crops, fish, water supply punished by drought
Creepy Computer-Generated Avatar Greets Travelers At Newark Liberty
Looming Postal Service default shakes mailers' confidence
Meat lobby wants corn-to-ethanol relief
Most U.S. Stocks Slip After Two-Day Rally; Corn at Record
JCPenney to Eliminate All Checkout Clerks, Instead Using RFID Chips and Self-Checkout; End of JCPenny? How Many Jobs At Risk?
Survey: 28 Percent of Americans Have No Emergency Savings

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