Friday, August 10, 2012


News Links, August 11, 2012

## Global Ponzi meltdown/House of Cards ##
Commerzbank flags fears of eurozone collapse
"Germany's second-largest bank Commerzbank braced for a worsening of the euro zone crisis and gave a grim profit outlook on Thursday, warning it may not pay a dividend in 2013."
U.S. banks told to make plans for preventing collapse
"U.S. regulators directed five of the country's biggest banks, including Bank of America Corp and Goldman Sachs Group Inc, to develop plans for staving off collapse if they faced serious problems, emphasizing that the banks could not count on government help."
Finland's PM proposes bank-funded EU crisis fund
Moody's cuts India's growth estimate
Expert: Cuts could contract Greek economy
Spain's 24.6 percent unemployment a record
Amid Economic Crisis, Spain Ponders Taxing Catholic Church Property
German Growth Unlikely to Stop Euro-Zone Contraction
Bank of Ireland Posts Sharply Wider First-Half Loss
Goldman Sachs Cut Italy Debt Holdings 92% Last Quarter
Austerity's Cost: Abandoned Children in Europe

## Airline Death Spiral ##
Silver Status Loses Its Luster for Frequent Fliers
Double Whammy Hits Qantas Workers
Lufthansa Cargo Volume Down 10.5 Percent in July
JAL to increase international cargo fuel surcharge

## Fault lines/flashpoints/powder kegs/military/war drums ##
U.S. still believes Iran not on verge of nuclear weapon
"The United States still believes that Iran is not on the verge of having a nuclear weapon and that Tehran has not made a decision to pursue one, U.S. officials said on Thursday."
Report: Saudis Threaten to Shoot Down Iran-Bound Israeli Planes
Asian oil buyers help Iran stave off the worst, for now
Where U.S.-China Power Sharing Would Leave Japan
From my point of view here in Japan, the writer presents a sensible argument. Japan's current position as America's Far East "unsinkable aircraft carrier" (in the words of former Prime Minister Nakasone) grows more untenable with each passing day. -- RF
South Korea's Lee Myung-bak visits disputed islands
Analysis: Israel fears new generation of jihadists on its borders
5,000 Afghan 'militants' have surrendered - but are they real?
US Deploying Surveillance Drones Near China
Japan PM calls Lee's Takeshima visit "totally unacceptable"

## Global unrest/mob rule/angry people/torches and pitchforks ##
Housewives With Frying Pans Protest Japan Tax Hike as Debt Soars
Protesters block government offices in Nepal's capital to demand prime minister's resignation
Cops, protesters clash at student march in Chile
Soaring meat prices stoke discontent in Sudan at Ramadan
Spanish mayor hailed as modern-day Robin Hood
"A Left-wing mayor of a small town in Andalusia has become a modern-day Robin Hood, organising robbing raids on local supermarkets to feed the poor of his community."

## Energy/resources ##
Iraq power woes short-circuit Olympics viewing
Is Cold Fusion Finally Being Accepted by the Scientific Community?
Even if cold fusion works, it has to pass the EROEI test. That is, it must produce far more energy than it consumes, or it is as worthless as corn ethanol. Further, while hydrogen is indeed very abundant, it must first be liberated from something else, and that itself is a significant energy investment. -- RF
Nationwide power outage looms •As NLC declares strike over crisis in PHCN
"NIGERIA Labour Congress (NLC) has declared a nationwide strike over the crisis in the power sector, including the invasion of the headquarters of the Power Holding Company of Nigeria (PHCN) by military men and the current deductions from  workers' salaries."
Dung Quat suspension causes huge fuel shortage
Harvard Study Refutes Concerns over Oil Becoming a Scarce Commodity
"Global oil supply capacity is growing at an unprecedented level, and could result in an overproduction glut and steep dip in oil prices, according to a June 2012 study from Harvard University's Kennedy School of Government."
But if there is a "steep dip" in prices, much of that oil will become uneconomical. Much money is being lost on shale gas for the same reason. -- RF
Water, Endangered Global Resource
"Our groundwater is being used up at record rates and claims to ownership are becoming increasingly contentious. It won't be long before the first water war begins."

## Infrastructure scavenging ##
Phone lines cut in gang copper theft
Thieves steal clock faces off Newcastle Co-op

## Got food? ##
Let the Corn Rationing Begin
Food inflation entrenched in southern Africa
Global food prices rise 6% in July, U.N. says

## Environment/health ##
Is Air Conditioning Heating Up the Planet?

## Intelligence/security/internet ##
Nation-backed surveillance malware monitors Middle East bank accounts
It's Official: Blizzard Hacked, Account Information Stolen
NYPD's 'Domain Awareness' Surveillance System, Built By Microsoft, Unveiled By Bloomberg

## Systemic breakdown ##
As the Planet Reaches its Limits, What Solutions are Available?
By this the writer does not mean solutions that save the system. -- RF

## Japan ##
A Tax Revolt in Japan, and a Bond Bubble Too
Japan's nuclear shutdown results in record H1 trade deficit
Anti-nuclear rally outside Noda's residence draws about 1,000
Japan wholesale prices down 2.1 percent in July on year
Japan's food self-sufficiency rate falls to second lowest on record

## China ##
China Export Growth Collapses as World Recovery Slows
Sansha may struggle to meet Beijing's hopes for South China Sea

## UK ##
Eurozone crisis leaves record gap in UK trade with biggest goods deficit in 15 years
"Britain's flagging economy suffered another setback yesterday as a dramatic collapse in exports shattered hopes of a trade-led recovery."
Bleak Growth Prospects for British Economy
Thousands wait more than four hours to be seen in A&E
Second home owners targeted by squatters
"Second home owners have been hit by a surge in squatters, as court claims to evict trespassers rise by almost 10 per cent across the country."

## US ##
California braces for power-grid test amid heat wave
U.S. government ran $70B deficit in July
U.S. Drought Threatens Restaurants With Higher Food Costs
Ranchers Send Cows to Slaughter as Drought Sears Pasture
USDA predicts big drop in corn yield
Panetta: More Rounds of Base Closures Are Inevitable
Economists See Slower Growth as Fiscal Cliff Looms

And finally… Pennsylvania road crew paints over dead raccoon (includes photo)

<< Home

This page is powered by Blogger. Isn't yours?