Wednesday, July 11, 2012

 

News Links, July 8, 2012

## Global Ponzi meltdown/House of Cards ##
Cypriot banking bailout 'world's biggest on economy'
"Cyprus is threatened with the biggest banking bailout relative to the size of its economy as lenders teeter on the edge of collapse because of their Greek investments."
Crash Warning
U.S. Stock Market Complacency On Verge Of Collapse
World's Richest Lose $1.4 Billion
Production pruning - NLMK idles BF for two months as pig iron demand wanes
"Interfax reported that Novolipetsk Steel is idling a blast furnace due to deterioration in demand in the pig iron market both in Russia and abroad in Q2 2012 starting from July 6."
Sanko Files For Bankruptcy And More Shipper Insolvencies May Be Approaching
India's Delayed Monsoon Rains Worsens Economic Gloom
High ship refuelling costs 'erode port capacity'
"High costs of refuelling ships in South Africa's ports making the country uncompetitive, says SA Bunkering & Trading MD Andre Baard, as the South Africa's maritime sector comes under scrutiny."
Merkel's Magic Hat Running Out of Rabbits; 54% of Germans Believe Further Bailouts Pointless; 160 German Economists Denounce Summit Results

## Airline Death Spiral ##
Uruguayan airline Pluna calls it quits
European airlines: Consolidation should improve prospects
"The immediate outlook is grim – European airlines are expected to report combined net losses of $1.1bn in 2012, principally because of the eurozone crisis, says the International Air Transport Association, the industry's main representative body. That compares with a combined profit of $500m last year."

## Fault lines/flashpoints/powder kegs/military/war drums ##
China protests Japanese landing on Diaoyu Islands

## Global unrest/mob rule/angry people/torches and pitchforks ##
India: mob cuts power to poultry farm, 700,000 birds die
Power cuts spark protests as India swelters
"Power cuts lasting up to eight hours a day have sparked protests in industrial towns on the outskirts of the Indian capital, with residents blocking traffic, burning tyres and throwing stones."
Chicago Mob Attacks Man In River North, Police Arrest 11 Juveniles
Thousands protest in Tokyo as report finds "collusion" of failure in Fukushima nuclear disaster
South Korea braces for labour unrest
Swaziland Police Fire Tear Gas on Protesters

## Energy/resources ##
FACTBOX: European refinery closures, permanent and temporary, in 2012
Unipetrol's Paramo unit to end crude processing
Factory owners complain of losses as Riyadh diesel woes continue
"The Saudi Gazette reported that the Riyadh diesel crisis has inflicted staggering financial losses on factory owners, forcing some to shut down their new production lines."
Aging hydro equipment and extreme heat blamed for blackout (Toronto)
Turkey to launch energy exchange soon

## Got food? ##
Higher power, diesel prices may seriously hit crops
"Kisan Board Pakistan (KBP) has claimed if electricity and diesel prices for the agricultural sector are not reduced it may lead to 50 percent reduction in output of different crops. KBP President Sardar Zafar Hussein while talking to a group of journalists after his return from a visit of the Punjab province claimed that hundreds of tube-wells had been closed down by the growers due to load shedding and higher diesel prices."

## Environment/health ##
Dozens of deaths tied to heat wave over last 2 weeks (US)
Chernobyl's radioactive trees and the forest fire risk
"Much of the 30km exclusion zone around the Chernobyl nuclear plant is pine forest, and some of it so badly contaminated that a forest fire could create a devastating radioactive smoke cloud."

## Intelligence/security/internet ##
Power Outages a Sign of Cloud Computing's Achilles Heel?

## Systemic breakdown ##
The collapsing state of Pakistan
South Sudan faces economic collapse
Nurse's Notes: Prescription drug shortages at high nationally (US)
"The number of drugs on shortage has increased from 58 in 2004 to a record 267 in 2011. Last year, nearly half of hospitals reported experiencing a drug shortage on a daily basis, according to a survey of 820 hospitals by the American Hospital Association. Shortfalls are so common, pharmacy staffers at hospitals spend many extra hours to ensure there's an uninterrupted flow of medicine to patients."
British democracy in terminal decline, warns report
"Corporate power, unrepresentative politicians and apathetic voters leave UK 'increasingly unstable', says study"

## Japan ##
Fukushima Daiichi Nuclear Plant Weekly Review
Nuke protesters' ire increasingly centers on Noda
Radioactive river mud threatens lakes, Tokyo Bay
"Lakes across eastern Japan are being contaminated with radioactive cesium from the crippled Fukushima No. 1 nuclear power plant, and scientists are warning of a growing problem in Tokyo Bay."
Reactor 1 quake-damaged?
Central government plans to buy Senkaku Islands
Corporations try to save power as rolling blackouts loom
Renesas survives for now; future remains cloudy

## China ##
Steel industry profits continue to shrink

## UK ##
Union slams 'catastrophic news' of Vion meat plant closure
M4 motorway London to Heathrow section closed because of cracks

## US ##
GE halts development of US's largest planned PV manufacturing plant
Indiana residents asked to cut back on water use
Over 2 dozen KY counties under water shortage watch
Eight ways we're headed back to the robber baron era




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