Thursday, August 16, 2012


News Links, August 17, 2012

## Global Ponzi meltdown/House of Cards ##
BMW's Phantom Sales in Germany Show Debt-Crisis Contagion
Gold Runs Out in Lisbon as Price Drop Compounds Money Misery
"Everyone I know is struggling, even the gold stores are empty because nobody has any more gold left to sell."
MORGAN STANLEY: 'The Global Economy Has Sunk Deeper Into The Twilight Zone'

## Airline Death Spiral ##
Your Checked Luggage Is Saving the Airline Industry
Jet fuel price up 3.2%; puts burden on cash-strapped airlines (India)
HK Air Scraps All-Biz London Route, Reviews Airbus Order

## Fault lines/flashpoints/powder kegs/military/war drums ##
Saudi king out to build bridges with Tehran
"The regional heavyweights may back opposing sides in Syria's battlefields but, at the start of an emergency Muslim summit in Mecca this week, Iran's president was seated by the side of Saudi Arabia's King Abdullah."
Militants attack major Pakistan air base; 8 killed
"Islamist militants armed with rocket-propelled grenades and automatic weapons fought their way into one of Pakistan's largest air bases on Thursday, the air force said, in a brazen challenge to the nuclear-armed country's powerful military."
Israel suspects rocket fire caused explosions near Egypt border
"Two explosions shook a southern Israeli city near Egypt on Wednesday, and the military suspected a cross-border rocket attack though searches have thus far turned up no evidence."
Saudis, Qataris Urged to Leave Lebanon as Threats Grow
Iraq Eid Slaughter: 128 Killed, 371 Wounded
Israel's Peres against any solo Iran attack, trusts Obama
U.N. watchdog may lower its estimate of "missing" Iran uranium
"The United Nations' atomic watchdog may decide that less uranium is missing at an Iranian research site than it had previously thought, diplomats say, and that may go some way to easing concerns that it may have been diverted for military use."
America's 'shadow wars' in Africa
Japan to deport 14 detained Chinese activists
Both governments wanted to get out of this as soon as possible, and deportation offered the nearest exit. -- RF
Japan to ask international court to settle S Korea isle dispute

## Global unrest/mob rule/angry people/torches and pitchforks ##
Pussy Riot support rally coming to Toronto
Villagers beaten over land acquisition dispute in Henan province (China)
South African police gun down striking miners
Wave of Suicides Shocks Greece

## Energy/resources ##
Extreme Heat, Drought Show Vulnerability of Nuclear Power Plants
Who Will Fill the 24 Million Pound Uranium Supply Gap?
Drought and the Second Ethanol Crash
RWE Announces 2,400 More Job Cuts as Power Demand Slumps (Germany)
"Job cuts 'are essential to maintaining the market competitiveness of RWE,' Chief Executive Officer Peter Terium, who took the helm on July 1, said today in a statement. 'Mounting state intervention in the energy sector, shrinking power plant margins and fierce competition in electricity and gas supply are all challenges.'"
Sri Lanka extends daily power cut as plant fails
Forum critical of power cuts
"The Forum of Maltese Unions deplored the spate of power cuts across the country in recent days, insisting that people deserved better and that these could have a negative impact on the economy."
Helium shortage has wide impact
Businesses, people asked to cut power use in heat (US)
White House dusting off plan for potential oil release
"The White House is 'dusting off old plans' for a potential release of oil reserves to dampen rising gasoline prices and prevent high energy costs from undermining the success of Iran sanctions, a source with knowledge of the situation said on Thursday."
Europe's Energy Costs See Biggest Two Month Jump Ever
Waterfloods: The Next Big Profit Phase of the Shale Oil Revolution
Already it has come to secondary recovery. And in many regions water is in short supply. -- RF
With other U.S. shale gas plays in decline, is the Marcellus next?
Israel's Electric Company Gets ILS2 Billion in Government Guarantees
Tackling gas shortage: High 'winter tariff' under consideration (Pakistan)
"With the prospect of one billion cubic feet per day (bcfd) of gas shortage looming large in the upcoming winter, the Ministry of Petroleum and Natural Resources is working on a plan to introduce 'winter tariff' which will send prices up by 25% to 50% after gas utilities start supplying liquefied natural gas (LNG) through their system."
Nalco plunges into crisis due to coal shortage (India)

## Infrastructure scavenging ##
Copper theft causes power outage (US)

## Got food? ##
Forced to sell cattle during drought, dairy farmers 'just keep praying' for rain
After drought blights crops, U.S. farmers face toxin threat
"The worst U.S. drought in five decades has parched the land and decimated crops. It now threatens to deal a second blow to farmers, who may have to throw out metric tons of toxic feed."
Rice Harvest in India Set to Drop as Drought Curbs Sowing
Food Inflation on the Rise

## Environment/health ##
Wildfires blaze across U.S. West, threaten Idaho towns
Dallas Mayor declares state emergency as West Nile virus spreads
Cellphone tower climbers dying at 10 times the rate of construction workers
Invasive Pacific starfish seen in Atlantic
The Mississippi River Is Drying Up

## Intelligence/security/internet ##
Cyberwars Reach a New Frontier: the Airport
AT&T suffers DNS outage
"Some AT&T customers are being affected by a failure in the carrier's DNS (Domain Name System) servers that began Wednesday morning.
"Initial reports indicate the failure is hitting companies across the U.S., but few details are immediately available."
Criminalizing Dissent (Chris Hedges)

## Systemic breakdown ##
Statewide DMV outage hits thousands in California
"Two independent networking problems took computers offline at Department of Motor Vehicles (DMV) offices across California on Tuesday, causing problems for thousands of people."
The new normal: Drug shortages force ambulances to use expired meds

## Japan ##
Study shows low levels of radioactivity in people living near Fukushima plant
BOJ's JGB holdings top banknotes in circulation for 1st time
Sharp may sell solar cell plant in Sakai
Sharp may reportedly sell off copier, A/C units
U.S. Report Warns of Japan 'Drift,' Urges Defense Boost

## China ##
China 2012 trade outlook severe, inward investment slows
China Bets Sour for Heavy Equipment Firms
"Construction-equipment makers that pinned much of their hopes for sales growth on China this year have been left high and dry."
China Mobile Heads for Slowest Profit Growth Since 2000
Desperate & Jobless Chinese Turn to Plastic Surgery
More Bad News for China
Food price inflation now visible in China

## UK ##
Households need £1,500 extra a month to feel financially secure
Shoppers turn to vouchers to cut supermarket bills

## US ##
Amid Budget Squeeze N.Y. Sells Nursing Homes
"In Upstate New York, county officials are scrambling to sell off nursing homes that have been taxpayer-funded for generations."
US municipal bond defaults greater than rating data suggests-Fed
"U.S. municipal bond defaults are more numerous than the rating agencies report, according to data released on Wednesday by the Federal Reserve Bank of New York."
Muni Bond Downgrades by Moody's in Quarter Total Most Since 2000
Parched regions to remain overheated into fall
Facebook hits new low as IPO lock-up ends
40 Points That Prove That Barack Obama And Mitt Romney Are Essentially The Same Candidate
Army faces highest monthly total of suicides
Labor Department $100 Million Giveaway to Stop State Layoffs
Cost of College Degree in U.S. Soars 12 Fold: Chart of the Day
When energy gets more expensive, everything else gets more expensive. -- RF
Three ugly economic predictions no one wants to hear
Deleveraging Needed In Next 4 Years: $28 Trillion
What to Do When Every Market Is Manipulated

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