Wednesday, August 22, 2012


News Links, August 23, 2012

## Global Ponzi meltdown/House of Cards ##
Container Lines Losing Price Battle as Costs Overwhelm: Freight
"The world's container lines can't raise freight rates fast enough to cover soaring fuel prices as persistent overcapacity works against the industry."
UN study says wealth gap in Latin America increases
BHP Billiton scraps mega mine expansion
"Mining giant BHP Billiton has put on hold its massive $30 billion expansion of the Olympic Dam copper and uranium mine project in South Australia."
Egypt says formally requests $4.8 billion IMF loan
Spain Predicts 4.3% Increase in Tax Revenues, Actual Results are 3.5% Drop; Proposed "Solution" is More Tax Hikes
The Truth Behind Juncker's Lies: In The Second Largest Greek City, 1250 Companies Have Shuttered In 2012
Hewlett-Packard makes $8.8bn loss in third quarter
Last Man Standing Means Europe Investment Banks Resist Shrinking
"Europe's failure to resolve its sovereign-debt crisis will force investment-banking chiefs in the region to consider shuttering entire businesses rather than rely on piecemeal job reductions to revive profit."
Russia Accumulates Gold As Consolidates Below Resistance At $1,644/oz
Which Country Goes Bankrupt Next?

## Airline Death Spiral ##
Airbuses suffer cockpit power failure, await fixes
Aviation deregulation plans draw safety worries (Japan)
Will Congress Pass the Airline Bailout Act of 2012?
Legroom Crunch: More Airlines Reduce Space, Add Rows

## Fault lines/flashpoints/powder kegs/military/war drums ##
Venezuela Ramps up China Oil Exports Unsettling Washington
"The biggest geostrategic change of the past decade overlooked by Washington policy wonks in their fixation on their self-proclaimed 'war on terror' is that Latin America has been throwing off the shackles of the Monroe Doctrine."
Clashes over grazing land, water kill 48 in Kenya
"Attackers armed with machetes, bows and arrows and spears killed at least 48 villagers and set houses ablaze in Kenya's coastal region overnight in an attack over land and water, police said on Wednesday."
U.N. chief defies U.S., Israel; plans trip to Tehran
"U.N. Secretary-General Ban Ki-moon plans to attend a summit meeting of leaders of non-aligned developing nations in Tehran next week, defying  calls from the United States and Israel to boycott the event, U.N. diplomats said on Wednesday."
Israel Demands Egypt Remove Tanks From Sinai

## Global unrest/mob rule/angry people/torches and pitchforks ##
Bahrain Shi'ites battle police at protester's funeral
"Protesters pelted police with petrol bombs and stones in clashes that broke out in Bahrain on Tuesday night at the funeral for a teenage demonstrator killed last week in a new bout of unrest in the U.S.-allied Gulf state."
Unrest spreads in violence-hit South Africa mining belt

## Energy/resources ##
Don't Count on Revolution in Oil Supply (The Oil Drum)
Vestas wind turbine firm to cut another 1,400 jobs
"Danish wind turbine firm Vestas has announced plans to cut another 1,400 jobs as it prepares for a drop in business next year."
Petroleum Theft Growing in Mexico
"Despite the millions of dollars spent trying to battle theft of oil, petrol, and diesel by Mexican criminal gangs, Pemex, the Mexican government's hydrocarbon monopoly, has reported that the pilfering has actually continued to rise."
Minister warns of looming gas shortage in NSW (Australia)
Samui short of electricity (Thailand)
"Frequent scheduled blackouts are the order of the day during peak hours 1800 to 2200 and island authorities recognise it will not get better as long as hotel capacity grows faster than public utilities."
Delayed construction of nuke reactors renews power shortage concerns (SKorea)
Power crunch: State imposes severe cuts (India)
Threatened with credit-rating cut, Electric Corp. wins state aid (Israel)
"Spike in costs is the result of Israel losing its gas supply from Egypt, forcing IEC to buy costlier fuels to run its plants."
Weak monsoon boosts demand for diesel in India, Pakistan
India Mulls $35B Debt Revamp After Biggest Blackout
Fuel shortages in Nigeria as union attacks subsidy halt
Battery Performance Deficit Disorder
Petrobras says found "good quality" oil in Brazil offshore
But accessibility is part of "quality," and this is deep-water. -- RF

## Got food? ##
Harsh Balkan droughts cause $250 million in damage
Drought destroys 100,476 hectares of crops in Cambodia, with more crops at risk
Cold chain breakdown: DMV stop uncovers defrosted food (US)
Cattle prices are expected to rise
Food Waste Is Overwhelming. Here Are Five Things People Are Doing About It

## Environment/health ##
2012 on pace as worst year for wildfires (US)
The Truth About Cats: They're Good for Us

## Intelligence/security/internet ##
9/11 trial 'may not begin for another four years'
"The trial of the five men charged over the September 11 attacks on America will not be televised and may not begin for another four years, it has been disclosed."
Researchers demonstrate first backdoor "hack" into the human brain
Are People Being Thrown In Psychiatric Wards For Their Political Views?

## Japan ##
Japan exports fall on weak demand in China and Europe
Trade deficit hitting Japan hard
Magazine flirts with war scenario over Takeshima
Cesium-laden fish may point to ocean hot spots
2 Fukushima men suffer internal radiation exposure from homegrown vegetables
Fewer auto parts come with 'Made in Japan' on the tag

## China ##
Thousands being moved from China's Three Gorges - again
"China relocated 1.3 million people during the 17 years it took to complete the Three Gorges dam. Even after finishing the $59 billion project last month, the threat of landslides along the dam's banks will force tens of thousands to move again."
China Economy's Harsh Winter to Hurt Cotton, Commodities
Its hell let loose in Chinese domestic steel levels
Widening wealth gap in rural China nears warning level
China's Graduates Face Glut
Government Subsidies Help Fuel Geely's Profit Gain

## UK ##
More than 100 quangos axed by coalition, say ministers
Five million homes face 'shock' energy rise

## US ##
More Than Half Of All Americans Are At Least Partially Dependent On The Government
How the U.S. East Coast Just Dodged an Oil Supply Shut-Down
Lawyers Expect Young Immigrants to Flood Small Employers
Is Disability the New Unemployment Insurance?
California governor declares state of emergency as wildfires rage
Uncle Sam Needs YOU for a Bailout: 6 Reasons Another Big Banking Crisis Is Coming Our Way
Low Water – Slow Boats
Georgia, New Mexico join call for end to US ethanol rule
FOMC Minutes Show More Easing Measures Likely
Tumbleweeds Blow as Light Volumes Turn Wall Street Into Ghost Town

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