Tuesday, August 28, 2012


News Links, August 29, 2012

## Global Ponzi meltdown/House of Cards ##
Spanish Recession Deepens as Austerity Undermines Outlook
Counter Revolt In Germany: Gagging "Hardliners" As the Economy Tanks And Future Exports Drop Into The Red Zone
Anti-EU, Anti-Brussels Sentiment Rises in Netherlands; Don't Expect Much From a "Merkollande" Summit
The Global Demise of Pension Plans
I've said again and again that pension programs are doomed because they are part of the global Ponzi economy, and because they themselves are Ponzi schemes. Read it and weep. -- RF
Spain's Flat Spin Continues as GDP Falls
EU market grapples for recovery amidst despair
Fonterra cuts 2012/13 payout forecast on strong NZD
Central Banks Digging a Deeper Hole

## Airline Death Spiral ##
Latvia looks to sell up to 50% of airBaltic
Air China H1 net dives 77 percent on fuel, forex charges
European airlines scramble to get their numbers right
Lufthansa talks with cabin crew union collapse
Budget airlines charge huge mark-ups for food, survey finds
"Budget airlines are charging passengers mark-ups of up to 1,000 per cent for water and snacks mid-flight, research by TravelSupermarket.com has found."
Delays flying into Heathrow are the worst in Europe

## Fault lines/flashpoints/powder kegs/military/war drums ##
Reports: Egypt wouldn't fire on Iran ship
"Egypt's Navy refused a U.S. request to fire on an Iranian weapons ship heading for violence-torn Syria through the Suez Canal, al-Arabiya reported."
US urges African air forces to form NATO-style ties
"The United States urged African nations on Tuesday to pool their air force assets in a NATO-style effort to take on terrorists and international criminals rather than struggle to fund costly independent operations."
Iran said to supply Syria with elite force
US surrounding China with military exercises: Chinese analyst
Analysis: China's aircraft carrier: in name only
Syria FM: US Is Major Player in Civil War
Israel's First Drone Strike Inside Egyptian Territory Kills Sinai Bedouin

## Global unrest/mob rule/angry people/torches and pitchforks ##
Two Tibetan teenagers die in self-immolations
Only 8 percent of Lonmin workers report for shifts
Kenya riots carry into 2nd day as youths protesting killing of Islamic preacher

## Energy/resources ##
G-7 Countries Call for Increased Oil Output to Meet Demand
Russia power cut-off highlights risky dependency
"The surprise shutdown on August 20 of a major Russian power line, which sent spot electricity prices in some Baltic regions spiking, has highlighted the problems of those countries' dependence on their eastern neighbour for so much of their electricity supplies."
Kurdistan warns Baghdad it will halt oil exports again
Statoil to sink cash into new technology
"Norwegian energy company Statoil said it was investing in long-term innovation strategies to meet production benchmarks for 2020."
Venezuela fire sparks energy concerns
Offshore-Rig Builders Thrive in New Era
Don't Worry, There's Plenty of Oil (Richard Heinberg)

## Infrastructure scavenging ##
Metal Thieves Snatching Whatcom's Power Lines (US)
Open season for metal manhole covers (Malaysia)

## Got food? ##
India Wheat futures rise as mills face shortage
"Despite record harvest of wheat from Punjab and Haryana this year,wheat mills and food producers like biscuit makers are facing severe shortage of wheat , according to mill owners."
China Frets Over Coming Pork Shortage
Poor in India Starve as Politicians Steal $14.5 Billion of Food
Drought Crop Update: From Harsh Expectations To Harsher Reality
Statoil Steps up Arctic Activities

## Environment/health ##
Fracking: Methane Making An Appearance In Pa. Water Supplies
It's Time to Ban Dangerous Neonicotinoid Pesticides

## Intelligence/security/internet ##
Cyber security incidents rarely reported: EU agency
"Most cyber security incidents are often not reported or detected even though they can affect millions of citizens  and businesses, the EU's cyber security agency ENISA warned in a new report published today (27 August)."
PEN Canada deeply concerned about 'blunt attempts at censorship'
Homeland Security campaign expands to sports
"The Department of Homeland Security is urging fans at professional sports events to help keep the country safe by reporting anything suspicious they see."

## Systemic breakdown ##
Can we rely on our power grid?
"'This is really the fundamental linchpin for everything in our society, our economy, our quality of life,' said Massoud Amin, a University of Minnesota professor and longtime electric industry analyst and consultant. 'By deferring infrastructure upgrades, we are basically increasing the risk for the whole system.'"
America's Crumbling Infrastructure (Infographic)

## Japan ##
Japan cuts economic assessment for 1st time in 10 months
Environment Ministry declares Japanese river otter extinct
Sharp seeks 2,000 early retirements under its turnaround plan
Company town at the Sharp end of Japan's decline

## China ##
China's 'Non-Performing Loan' Nightmare
Guangzhou Auto, A China Partner Of Honda And Toyota, Says 1st-Half Profit Fell 15%
Three reasons why China wants citizens to own Precious Metals
Andy Xie: China's investment rate set to halve
China's mega coal power bases exacerbate water crisis – in pictures

## UK ##
End of welfare culture as young must work unpaid before claiming benefits
"Young people will have to complete three months of work experience before they can claim unemployment benefits under Government plans to end the 'something for nothing' welfare culture."

## US ##
Unfinished town in Fla. left in limbo
"Connerton is one of the places where the early 21st-century building boom went bust and America's suburban frontier stopped in its tracts."
108,000 DoD Civilians Would Lose Jobs Under Sequestration: Report
Diesel and Gasoline Prices Continue to Increase
When Channel-Stuffing Comes Home? GM 'Idles' Volt Production (Again)
GM's dead Volt?
It Is Not Just Your Imagination – American Families ARE Getting Poorer
Government Spending as Percentage of GDP
Downtown Mpls. Becomes Black Hawk Helicopter Training Zone
$16 trillion in the hole
Huge Miss: Consumer Confidence Plunges To 60.6
Utilities Face Hurricane Blackouts

And finally… Man leaves ID behind after robbing gas station

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