Wednesday, July 04, 2012


News Links, July 5, 2012

## Global Ponzi meltdown/House of Cards ##
Production pruning - ThyssenKrupp may temporarily cut workers hours
Greece to present debt inspectors 'alarming' data
"Greece's new government will present 'alarming' data on its recession and unemployment to international debt inspectors this week, in a bid to renegotiate the terms of its bailout agreements."
France to Set Top Marginal Tax Rate at 75%, Permanently Increase Wealth Taxes, Hike Surcharges on Banks and Energy Companies; Further Tax Hikes Next Year; France Poised to Implode (Mish)
Portugal turns to natural resources in crisis times
New Congo bank notes evoke hyperinflation fears
"High-denomination Congolese notes of up to 10,000 franchit the streets of the capital Kinshasa on Wednesday, jogging memories of the dizzying hyperinflation under former dictator Mobutu Sese Seko which sent the local economy crashing."

## Airline Death Spiral ##
Virgin America Posts $76 Million Loss
Austrian Airlines' restructuring moves forward with the transfer of operations to Tyrolean Airways
Uruguayan Airline Pluna On Verge Of Bankruptcy, Cancels Flights
Vietnam Airlines Set For Major Restructure
Qantas CEO warns weak yields likely to continue
US carriers cut seat supply to Europe
'Cyprus Airways might not survive summer'

## Fault lines/flashpoints/powder kegs/military/war drums ##
Car bomb in Iraq market kills three, wounds many
Iran says can destroy U.S. bases "minutes after attack"
"Iran has threatened to destroy U.S. military bases across the Middle East and target Israel within minutes of being attacked, Iranian media reported on Wednesday, as Revolutionary Guards extended test-firing of ballistic missiles into a third day."
Iran-Persian Gulf-Oil Threat
Afghan soldier wounds 5 U.S. soldiers in base attack
UAE to Boost Home Army with 3,000 Colombian Soldiers
Taiwanese vessel enters Japanese waters near Senkaku Islands
UAE, Bahrain hold joint air exercises

## Global unrest/mob rule/angry people/torches and pitchforks ##
For those without power, patience wears thin, tempers flare
Occupy national gathering, ACT UP protest in Center City
3 killed as protesters, police clash in Peru
Teargas, clashes in Ukraine over language law

## Energy/resources ##
Decline In Power Generation
Factory owners complain of losses as Riyadh diesel woes continue
"The Riyadh diesel crisis has inflicted staggering financial losses on factory owners, forcing some to shut down their new production lines. Others have resorted to the black market to secure sufficient quantities of diesel to keep their new production lines operational. Tankers which previously sold for SR2,500 each can now cost anywhere from SR7,500 – SR15,000."
India's Oil Supply Dilemma - Stuck Between a Rock and a Hard Place
Power outage affects nearly 3,000 Billings residents
Power crisis: India faces a shortage of 17,000 MW
Enough fossil fuels to fry us all
A response to George Monbiot's recent opinion piece. -- RF
Unconventional Oil is NOT a Game Changer
Norway oil talks fail, strike could last weeks: union

## Got food? ##
India not in a hurry to exports more wheat : Food minister
Thousands of chickens and turkeys die in Virginia from sweltering heat, power outage

## Environment/health ##
Stomach bugs to rise during Olympics: scientists
"Stomach bugs and chest infections are expected to rise in London during the Olympics as visitors flock to the Capital, government scientists have said."
Unknown disease kills 60 children in Cambodia: WHO
North India reels under unprecedented heat wave
Flooding problems in Scotland hit travelers

## Intelligence/security/internet ##
Twitter: We Hand Your Info to the US Government 75% of the Time
Acta: Controversial anti-piracy agreement rejected by EU
Feds Look to Fight Leaks With 'Fog of Disinformation'

## Japan ##
Japan to load first of two Iran oil cargoes as early as July 22: sources
"Japanese shipping companies are likely to load Iranian oil on two VLCCs in late July, with the first cargo to be loaded as early as July 22 after the expected signing of new insurance contracts with the government next week, sources close to the matter told Platts Wednesday."
Moody's lowers credit outlook on Yamaha Motor
12,200 Bq/Kg from Teganuma lake Chiba

## China ##
Chinese Developers Face Pinch
"Hounded by loan sharks, the once-highflying real-estate king of Baotou, a boom city of about two million people in Inner Mongolia, finally reached his breaking point. Last month, Wei Gang checked into a hotel and hanged himself, according to local police."
Wuhan Iron and Steel abandons Brazil plant project
China's Lastest PMI Signals More Trouble
Power consumption hits all-time high as heat wave scorches Xiamen

## UK ##
Foreign powers will be allowed to access email and phone records
"Foreign governments could be given details of Britons' phone calls, emails and internet usage in another 'deeply troubling' part of new surveillance plans."

## US ##
L.A. raises parking fines, zoo admission to help with budget woes
Debtors' prison 2.0: More people getting thrown in jail for being too poor to pay fines
The Ones We've Lost: The Student Loan Debt Suicides
Storms Worsen Blood Shortage in 2012
Businesses Face Increasing Demand, Supply Shortages
Could economics doom ailing Calif. nuke plant?
Power outages force many Americans to party like it's 1776

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