Tuesday, August 28, 2012


News Links, August 28, 2012

## Global Ponzi meltdown/House of Cards ##
Billabong to shutter shops as it posts a $275.6m loss (Australia)
German Business Confidence Falls
Spain Expects to Tap About $75 Billion in Rescue Financing for Its Banks
Budget cuts leave Spanish fire crews high and dry
S.Africa bailout loan to Swaziland to start in Sept
Vietnam Industrial Production at Slowest Pace Since January
Shipper China Cosco Faces a Sea of Red
Australia's resource boom on last leg?
Yuan tipped to replace U.S. dollar, Euro in southeast Asia
China's Debt Problem

## Airline Death Spiral ##
HK Airlines ambitions hit turbulence
Pressure on Qantas to trim fuel bill
United Airlines to Offer Smaller Seats
Congo's new airlines brave riskiest African skies
AMR Profitable in Bankruptcy

## Fault lines/flashpoints/powder kegs/military/war drums ##
North Korea on the Nile
"Reports that Egypt's oil suppliers are cutting shipments to the nearly-bankrupt nation coincide with a dramatic diplomatic shift towards Iran by President Mohammed Morsi. Morsi's attendance at the Non-Aligned Summit in Teheran today denotes the end of Iran's diplomatic isolation in the Sunni Arab world."
Car carrying Japan ambassador to China attacked: agency
"A man attacked the car carrying the Japanese ambassador in Beijing on Monday and ripped off the Japanese flag flying on the vehicle, Japan's Kyodo news agency reported, amid escalating tensions that led to the biggest anti-Japan protests in years."
Gaza 'will not be liveable by 2020' - UN report
Muppet urges Israelis to prepare for possible emergency
"The Israeli muppet on the cover of a new, emergency pamphlet being distributed nationwide puts a happy face on some grim warnings in a country preparing for possible war with Iran."
Global small arms trade doubles in six years-survey
With $66.3 Billion In Agreements, U.S. Arms Sales Break Record In 2011
Chinese microblogging post says China listed Senkaku Islands as Japanese territory
"A post on the popular Chinese microblogging site Weibo has stated that China formerly listed the Japan-controlled Senkaku Islands as Japanese territory, providing data to support the claim."
Ishihara's Senkaku survey request gets thumbs-down (Japan)

## Global unrest/mob rule/angry people/torches and pitchforks ##
Occupy Hong Kong activists stay put, ignore eviction deadline
"Members of the Occupy Hong Kong movement refused to leave the open-air plaza beneath HSBC bank's Asian headquarters on Monday when a court deadline passed, and the bank said it would now get the court's permission to remove them."
Labour strife returns in S.Africa's platinum belt
Sardinian miners barricade themselves underground in protest
Riots hit Kenya after Muslim cleric shot dead
Oil labor row stalled in Norway

## Energy/resources ##
Alaska pursuing unconventional shale oil development to fill its pipeline
Peak cheap oil is an incontrovertible fact
Israel Reaches Out to US for Oil and Gas Development
Oil Rises as Isaac Shuts Output; Gasoline Gains on Refinery Fire
Mining majors cut curtail expansion on gloomy outlook
Petroleum Ministry raises diesel quota for electricity stations (Egypt)
Mindanao power crisis (Philippines)
Fire shuts Iraqi crude oil pipeline to Turkey
Venezuela refinery blaze spreads, fuel prices jump
Brazil's gasoline imports to rise
"Brazil's gasoline imports will rise a minimum of 354 percent by 2020 due to falling sugar-cane ethanol production, the media reported, citing a government study."
Will the U.S. Run Out of Oil in 8 Years?
Let's be clear about this. We will never run out of oil. But we will run out of affordable oil. It's all a matter of quality, not quantity. And by the way, those "new" technologies aren't new. -- RF
10 most expensive energy projects in the world
Gulf Oil Production About 80% Shut-In Due to TS/Hurricane Isaac
Risk of water wars rises with scarcity
"Almost half of humanity will face water scarcity by 2030 and strategists from Israel to Central Asia prepare for strife."

## Got food? ##
Gardeners using coffee granules to deter slugs breaking EU law – RHS
But it's OK to dump poisonous chemicals on your food. Go figure. -- RF
Scientists warn food shortages could turn us all into vegetarians
GMO Corn Worsens Drought Damage with Rootworm Outbreak

## Environment/health ##
Good News From The Bad Drought: Gulf 'Dead Zone' Smallest In Years, Says Texas A&M Expert
Arctic sea ice at lowest ever recorded
China wrestles with acid rain threat

## Intelligence/security/internet ##
World's largest oil producer falls victim to 30K workstation attack
Saudi Aramco oil giant recovers from virus attack
The Courts Will Soon Decide If Police Can Sample Your DNA Without A Warrant (US)

## Systemic breakdown ##
Luzinterruptus Creates Stunning Light Installations To Call Attention To Urban Decay
The army of glowing radioactivity suits is disturbingly eerie. -- RF
South Africa 'in the grip of increasing lawlessness'

## Japan ##
Japan regulators seek more bailout powers: report
"Japanese regulators are seeking a mandate to bail out insolvant brokerages and insurance companies if needed, in addition to existing powers to save banks and bank holding companies, the Nikkei business daily reported Tuesday."
Japan Contraction Risk Rises on Faltering Global Demand: Economy
Gamma rays from Fukushima rubble worse than radioactive cesium coming from plant, say officials
Japan firms want nuclear power exit
Huge solar power plants spring up in idle industrial complexes
The idle industrial complexes should be the focus here. -- RF
Japan Post proposes reduced working hours and operations
Defense Ministry quietly begins providing assistance to military forces overseas

## China ##
Guangdong's Dongguang city facing severe financial difficulties
China industrial firms see profits dip as economy slows
'China may clock 50% of global oil demand growth in 2013'
Chinese Snap Up Bordeaux Vineyards
Sinopec Petrochem Records 1H Loss - Analyst Blog
"Struggle Of The Ant Tribe" - China's Broken Dreams

## UK ##
Private school fees 'soar at twice the rate of inflation'
"Thousands of middle-class families have been priced out of private education after school fees soared by more than twice the rate of inflation in a decade, according to research."

## US ##
U.S. Debt On Track to Hit $16 Trillion Within Week
Dipping into US Strategic Oil Reserves: A Speculator's Bonanza
"America has a 696-million barrel Strategic Petroleum Reserve stored away in underground salt caverns in two US states, Texas and Louisiana, in the event of an energy supply emergency. It may sound like a lot, but when you consider that the US imports over 300 million barrels of oil and petroleum products monthly, the buried reserves are meager."
Gritty N.J. city of Camden to scrap police department amid budget woes
Municipal Bond Defaults are Higher Than Reported
"Credit rating agencies have been mis-reporting the true statistics on muni bond defaults, giving bond investors a false sense of security."
How Many Times Can the Fed Play this Hand?
"Most of the money the Fed created has gone to banks and 'leaked' out to major funds at the expense of depositors. Thus, steal wealth from the serfs to keep the too-big-to-fail banks in business. How do you feel knowing you're paying the bonuses for the likes of Jamie Dimon, at JPMorgan and Lloyd Blankfein, head of Goldman Sachs?"
Neil Armstrong had little confidence in privatized space travel
Which telescopes could lose out in astronomy's big budget crunch?
FBI to Share Facial Recognition Software with States
Social Security's Woes Are Worse Than You Think
Food Stamp Usage up 64% in Last Four Years, Cost up 114% in Same Period; SNAP Charts, Facts and Figures
Back to School: Schools Pass the Hat...And Parents Feel the Crunch

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