Saturday, August 11, 2012


News Links, August 12, 2012

## Global Ponzi meltdown/House of Cards ##
Baltic index down as capesize, panamax rates weaken further
'JPM's $150 Billion FDIC Reality Adjustment' - Jamie Dimon Just Admitted To The World That JPM's Assets Are Overvalued By $150 Billion
FedEx Is Weighed Down
"The logistics firm faces continued deterioration in the global economy."
Ponzi Bank Financing of "Wealth Management Products" in China Backed by Dubious Real Estate Projects; "Golden Elephants", Poway, and Pay Option ARMs
It's A Centrally-Planned World After All, With Ever Diminishing Returns

## Airline Death Spiral ##
Finnair CEO says airline may become part of bigger entity -paper
"Finland's national carrier Finnair, mired in years of losses, could become a part of a bigger alliance or entity, its chief executive was quoted as saying on Saturday."
Flybe shares hit by more turbulence
Kingfisher Airlines losses double
MAS seen to post another quarter of losses but with less severe bleeding
"Malaysia Airlines (MAS) is expected to post another quarter of losses when its financial results for the three months to June are released on Tuesday, but the bleeding should be less severe, analysts said."

## Fault lines/flashpoints/powder kegs/military/war drums ##
Libyan general shot dead by gunmen in Benghazi
Japan to take islands dispute with Korea to international court
Putin says Russia to get hundreds of military planes
3 more coalition dead in another 'green-on-blue' attack in Afghanistan
Dozens Of Underwater Drones Deployed To The Waters Of Iran
Netanyahu Decision to Attack Iran 'Almost Final'
Israeli Bank Chief Warns Attacking Iran Might Cause Economic Crisis
Syrian and Jordanian forces clash in border area

## Global unrest/mob rule/angry people/torches and pitchforks ##
Pitchfork-wielding Virginia farmers rally against birthday party fine
Permits needed for pumpkin carving?! -- RF
Hot and bothered come into streets of Iraq
"The lack of electricity during the height of summer is once again driving angry Iraqis into the streets to protest what they see as their government's failure to provide basic services."
Buenos Aires subway shutdown enters eighth day
"There was still no exit Saturday in the weeklong subway strike in Argentina's capital, where a million commuters are caught in the middle of a power struggle between President Cristina Fernandez and Buenos Aires Mayor Mauricio Macri."

## Energy/resources ##
Massive electricity-saving campaign underway in South Africa
US gas prices spike; refinery problems cited
Rig shortage means record $4.5 billion blowout binge
Egyptians gibe on PM's electricity rationing strategy
No end in sight for Pakistan's energy crisis
Gas stations run out of high-grade gas (Canada)

## Infrastructure scavenging ##
Sen. Schumer aims to make metal theft a federal offense

## Got food? ##
Drought-hit US crops worse than feared, squeeze looms
Top Tips for Great Fall Gardens
Reap the Garden & Market Bounty: How to Dry Food

## Environment/health ##
West Nile threat likely to rise in Houston

## Intelligence/security/internet ##
Hacked Journalist: Don't Put Too Much Trust in Cloud
India Gov't To Load Critical Data To The Cloud

## Japan ##
Sharp eyes selling overseas factories to Taiwan's Hon Hai
Radioactive fallout from Fukushima nuclear meltdowns caused abnormalities in Japan's butterflies
Higher tax rate likely to slow Japan's economic growth

## China ##
China Easing May Now Come in Days, Not Weeks
Trade growth sees sharp slowdown
Ordos scrambles to raise funds with coal and realty markets down
"After 10 years of rapid development, the economy of Ordos in Inner Mongolia appears to come to a standstill."

## US ##
Hard Times Spread for Cities
"Fiscal woes that have caused high-profile bankruptcies in California are surfacing across the country as municipalities struggle with uneven growth and escalating health and pension costs following the worst recession since the 1930s."
Cash-strapped cities seek creative, risky ways to stay afloat
Back-to-school shoppers in no mood to splurge
Penney downplays dismal Q2
Dual power outages cause widespread issues

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