Thursday, August 23, 2012


News Links, August 24, 2012

## Global Ponzi meltdown/House of Cards ##
Merkel and Hollande unite in tough message for Greece
Greece may sell off islands amid privatization scheme: report
Canadian retail sales fall, widely miss expectations
Euro-Area Services, Manufacturing Contract for Seventh Month
The Worst Is Yet to Come for China's Economy
The Euro Is Already a 'Zombie Currency': Expert
Forget the Baltic Dry Index – Take a Look at the Container Market
Domestic catastrophe severely impacts export levels in China
Can Australia's Economy Survive the Mining Scare?
Aussie Declines as China Data Suggest Slowing Demand
S.Africa GDP to slow, unemployment unsustainable: IMF
Debt risks lurk in Vietnam's unreformed state giants
S&P 500 Falls Most in One Month Amid Concern Over Europe
Odds of Global Recession Are 100%: Marc Faber

## Airline Death Spiral ##
Qantas posts loss, cancels Dreamliner orders to cut costs
Australia's Qantas posts huge loss (video)
Air Malta reports better than expect operating loss of EUR6.1m in 1QFY2013
Airfare may go up by 20% from September

## Fault lines/flashpoints/powder kegs/military/war drums ##
Vietnam prepares its people for war with China
Deeper Asian splits possible after South China Sea spat: Indonesia
US plans new missile defence shield in Asia
The Endless War: Saudi Arabia Goes on the Offensive Against Iran
U.S. Faces Growing 'Insider Attacks' In Afghanistan
China media reacts sharply to Japan-U.S. island drill
Pentagon: Plans in Place to Seize Syria's Chemical Weapons

## Global unrest/mob rule/angry people/torches and pitchforks ##
Vietnam's Rich Face a Wealth of Public Ire
"The arrest this week of Vietnamese banking and soccer mogul Nguyen Duc Kien comes amid a growing backlash against Vietnam's wealthy tycoons, as the country struggles with an economy that is going from bad to worse."
Sixth monthly student protest in Montreal
Protesters: We want education, not war with Iran (Israel)
Togo police clashes with anti-government protesters
Unions clash with police in Córdoba city, several injured (Argentina)
Violent mining strikes could spread, says Implats

## Energy/resources ##
Helix Collapse Fails to Crush Hope for Vertical Wind Turbines
Russia Invests in Diesel as Putin's Oil Boom Peaks
"Russia is cementing its status as Europe's foremost diesel supplier as President Vladimir Putin seeks to shore up economic growth with record investment in the refining industry."
One-Fifth of World's Platinum Output Idled After Killings
Egypt struggles to buy fuel as credit dries up
"Egypt is finding it increasingly difficult to import fuel as foreign banks and traders pull the plug on credit and charge high premiums due to concerns over its financial and political stability, trading and banking sources said."
Continuous blackouts hit Egypt metal industries hard
"Local metal industry faces losses due to rolling power cuts nationwide, as production falls and machinery is damaged"
Solar installations continue to stall post August FiT cuts
"The latest solar installation figures released by the Department of Energy and Climate Change (DECC) show that the UK solar industry is continuing to suffer from a serious slump in installation rates following the introduction of fresh FiT cuts in August."
UMC suspending new solar energy investments
"United Microelectronics Corp, the world's second-largest contract chipmaker, yesterday said it has decided to suspend its new investments in the solar energy sector because of the market uncertainty faced by the industry."
Chinese solar industry faces weak sales, price war
International Oil Companies Illegally Exploiting Somali Hydrocarbons?

## Infrastructure scavenging ##
Catalytic converters turned into cash by brazen thieves in Chicago suburb

## Got food? ##
Rain arrives too late for ailing Black Sea crops; yields fall
"Falling yields are painting an even bleaker outcome than anticipated for Russia's wheat crop, while longed-for rainfall in Ukraine and Kazakhstan won't rescue drought-hit harvests across the Black Sea area, forecasters and analysts said on Thursday.#
Monsanto, DuPont Spending Millions to Oppose California's GMO Labeling Law
India's Maharashtra Sugar production may fall 40%
Beef Herd Tumbles to 40-Year Low on Feed Cost Surge: Commodities
Investing in Farmland: 4 Ways to Play the Agricultural Boom
No, no, no! Allowing rich investors to scoop up farmland around the globe opens the doorway to neofeudalism, a system comprising a rich landowning aristocracy and an underclass of poor and exploited tenant farmers (i.e., serfs). If you want peasant uprisings, riots, more food supply disruptions, and still another painful revolution, this is certainly the way to start. Farmland should be owned by the people who work it. -- RF
Tire-Eating Cornstalks

## Environment/health ##
West Nile outbreak in U.S. surpasses 1,100 cases

## Intelligence/security/internet ##
552 cyber attack cases confirmed in first half of year (Japan)

## Systemic breakdown ##
The End of the Industrial Revolution
Economy: It Is Absolutely Amazing What Some People Are Doing To Make A Living In This Economy
Cell towers blamed for Oakland's police radio ills

## Japan ##
Plutonium originating from Tepco's reactors found in 10 Locations
Japan's PM meets protesters, won't stop reactors
Sony Mobile Cutting 1,000 Jobs, Moving to Tokyo
Sony considering job cuts at Sweden plant
Eurozone crisis adds to Japan's trade deficit
Massive July trade deficit ill portent for global economy
U.S. looks at new early-warning radar for Japan
Sharp may get further loans of 230 billion yen
BOJ urged to buy foreign bonds to stem yen appreciation

## China ##
Rongsheng profit dives 82% as ship orders drop
"China Rongsheng Heavy Industries Group Holdings Ltd -- the country's largest private shipbuilder -- reported an 82-percent drop in first-half profit due to tumbling demand for new vessels."
China manufacturing at nine-month low, HSBC survey says
Central blank: China denies losing 80 tons of gold reserves
China Eyes Ways to Broaden Yuan's Use
"China aims to turn a trickle of cross-border trade that is settled in yuan into a stream, with Latin America and the Middle East as the next possible focal points, Hong Kong's U.S. envoy said."
Some China carmakers look overseas as domestic demand stalls

## UK ##
Pensioners to take 'temperature tests' before receiving winter fuel allowance

## US ##
Trends in Interest Rates on National Debt Suggest Currency Crisis is Coming
Economy: Why U.S. Unemployment Figures Are A Complete Lie
As Barges Sit Idle Along the Mississippi, the Economic Costs Grow
ACT results this year lackluster
"About 60 percent of the U.S. students who took the ACT college entrance exam this year appear unprepared for college, the exam's publisher said."
Chicago: Officials call for a surge in war on rats
Texas judge wants to raise taxes to prepare for civil war
Chinese Acquisitions in US Near Record
Dell Profits Plummet; Slumping PC Sales Blamed
HP tanks on lax PC sales
Romney seeks North American energy independence by 2020
America will eventually become "energy-independent," but not in the way Romney thinks. -- RF
Fed Minutes May Signal September Action As Economy Stagnates
My Day In Washington, Testifying Before Rep. Ron Paul (on gold-based parallel currencies)
8 Economic Threats That We Were Not Even Talking About At The Beginning Of The Summer
CBO sees worse economic wreckage from "fiscal cliff"

And finally… Man who assaulted wife with Ostrich egg jailed for six months
"A New Zealand man who assaulted his wife with an ostrich egg after her pet pig ran amok has been jailed for six months, local media reported on Thursday."

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