Tuesday, July 03, 2012


News Links, July 4, 2012

## Global Ponzi meltdown/House of Cards ##
BRICs Priced for Economic Meltdown
Producer prices slide in Europe
Peugeot to Raise French Workforce Cuts to 10,000, Union Says
Ireland's economic collapse worst global crash since the Great Depression
French PM cuts growth forecasts for 2012 and 2013
France to tackle crushing debt, says French PM Ayrault
Spain Says Aid May Flow Straight to Banks
Nigel Farage: Here It Comes Your 19th Euro Breakdown
European Funding Stress Worst In Over 3 Months
In India, Subsidies Upend Car Sales
India's Stock Market Rally May Not Last: Chart
South Korea Shuns Moms at Peril as Workforce Shrinks

## Airline Death Spiral ##
IATA: Demand Growth Slows
"Global airline traffic results for May are showing a general downward trend in line with deteriorating global economic conditions, the International Air Transport Association (IATA) reports."
Kingfisher Airlines' woes worsen as lessors take back 34 planes

## Fault lines/flashpoints/powder kegs/military/war drums ##
Iran test-fires ballistic missile able to hit Israel
Israel-U.S. drill will boost missile plans
"The upcoming U.S.-Israeli missile defense exercise Austere Challenge 12 to be held in the Jewish state is designed to accelerate integration of their missile systems and will have a big impact on their defense industries."
U.S. grows Persian Gulf presence to ward off Iran
Egypt: Security in the Sinai Peninsula is getting worse
Syrian army attacks rebels, Turkey scrambles F16s
U.S. Apologizes to Pakistan, Says Supply Routes to Reopen
Pakistan to U.S.: You bet you're sorry. Now get out.
China-Vietnam Row Heats Up Over Competing Offshore Claims

## Global unrest/mob rule/angry people/torches and pitchforks ##
Delhi blows its fuse over power cuts
"Delhi and the National Capital Region (NCR) lost their patience on Tuesday with relentless daily power cuts ranging between 12 and 18 hours. In Gurgaon, Noida, Faridabad and Ghaziabad, angry residents blocked roads, burnt tyres, and even attacked power sub-stations with stones."
British police expecting more riots
"British police expect another outburst of rioting in London, possibly within months, as economic hardship pushes more people towards social unrest, a study says, as the country prepares to host the Olympic Games."
Guatemalan students protest over education reform
China factory construction halted amid violent protests
Karachi unrest claims 3 more lives

## Energy/resources ##
Korea may use Iranian oil tankers
"Korea is considering accepting Iran's proposal to supply oil to Seoul using its own oil tankers, a government source said yesterday, after oil imports from Tehran were halted due to the European Union's ban on insuring Iranian oil shipments."
Iran Oil Tankers' Position Signals Spur Export Speculation
Nigeria: Crude Oil Theft or Industry Collapse?
Save water now, people told (Malaysia)
A Risky Proposition: Why Cheap Coal Is Really, Really Dead
Kori-1 nuclear power plant waiting for final approval to resume operation (Korea)
U.S. & China Collaborate on Thorium Nuclear Power Research
Peak Denial (Richard Heinberg)
Peakonomics: why the oil price slide is temporary
GE Halts Construction on Solar Plant as Prices Plunge
The Final Frontier? Arctic Drilling Gets Serious
Blackout hits Penang airport
Can 500-mile lithium-air car battery make gas obsolete?
No. -- RF
ExxonMobil Announces Bid for Afghan Oilfields

## Infrastructure scavenging ##
Metal thieves show no mercy

## Got food? ##
Corn Crop Withers Away: 'Thought It Was Onions'
"Crop conditions continue to worsen, to levels not seen since the drought of 1988, threatening the size and quality of the U.S. corn crop as it enters a critical developmental stage."
Heat pushes grain prices higher
France Poised to Beat U.S. in Wheat Exports After Drought
Global Wheat prices to surge in 2012-13 on production drop

## Environment/health ##
China culls 150,000 chickens in bird flu outbreak
Bird flu outbreak in Mexico a national health emergency
Study: Two bat species face white-nose syndrome extinction
Drought lowering Mississippi River

## Intelligence/security/internet ##
Lebanon experiences nationwide Internet blackout
T-Mobile Confirms Nationwide Data Outage
'Black boxes' to monitor all internet and phone data
Amazon Blames Power, Generator Failure for Outage

## Systemic breakdown ##
Verizon Faces Query in Emergency-Call Failure in Washington Area
"Verizon Communications Inc. (VZ) faces questioning from U.S. regulators over outages to 911 emergency call services after storms in the eastern U.S. cut electrical power for more than 4 million customers."
Society not ready for heat waves coming with climate change
U.S. power, telecoms outages leave Americans vulnerable

## Japan ##
Russia's Medvedev lands on disputed Far East island
20,201 Bq/Kg from vacuum cleaner in Chiba
Japanese chip maker Renesas to cut 5,000 jobs, save $550 million
Sanko Steamship seeks court protection
"Midsize shipping company Sanko Steamship Co. filed for bankruptcy protection under the corporate rehabilitation law with the Tokyo District Court on Monday."
Power grid systems lacking
Japan heads into 2nd summer with power shortages looming

## China ##
China paper accuses Manila over South China Sea "plot"
90% of China's restaurants not profitable: report
China vows crackdown after latest protest

## UK ##
UK could curb migration if euro crisis worsens: PM
"Britain could restrict immigration of Greeks and other migrants from euro zone countries affected by Europe's sovereign debt crisis in the event of "extraordinary stresses and strains", Prime Minister David Cameron said on Tuesday."
Construction in Britain slowed in June
"The PMI, which indicates business growth with numbers above 50, dropped from 54.4 to 48.2, "the fastest rate of contraction for 2 1/2 years," said the monthly report, which is co-produced by Markit Economics."
A passport to chaos
"The Government must get a grip on immigration queues at Heathrow."
English police face drastic cuts
Lazy jobseekers to lose benefits for up to three years
Teenagers hit by shortage of Saturday jobs, warns report

## US ##
10 explosive bubbles that will kill capitalism: Slow-motion train wreck in store for U.S.
Mammoth Lakes, California to file for bankruptcy
Illinois Services Threatened As Pension Hole Grows
Office market recovery slows to a crawl
Global woes a drag on local manufacturing
Carlyle deal eases fuel shortage concerns
"Private equity firm Carlyle Group has agreed to take over operations of Sunoco's Philadelphia refinery,  staving off the scheduled closure of the East Coast's largest producer of gasoline and other fuels."
FreightWatch Warns of Cargo Theft During Holiday Weekend
Financial Giants Are Moving Jobs Off Wall Street
State Police: 40 protesters arrested
"Vermont State Police said Monday that 40 anti-nuclear protesters were arrested after they trespassed at the Vermont Yankee nuclear plant Sunday."
Your morning jolt: Miscreants, armed citizens clash in Athens
Are unions beginning to collapse?
US economic recovery is tepid, says IMF
Jim Rogers Prediction: America Will Certainly Go Through A Period Of Default
Lower College Loan Interest Rates Won't Fix the Student Debt Crisis

And finally‚Ķ No evidence of mermaids, says US government
That's a real letdown. -- RF

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