Thursday, August 30, 2012


News Links, August 31, 2012

## Global Ponzi meltdown/House of Cards ##
Eurozone Retail Sales Decline 15th Month, Plunge Led by Italy, France; German Sales Contract Slightly
Rajoy Seeks Support for Spain Debt as Regions Line Up for Aid
"The Spanish region of Murcia became the third to say it will need emergency loans, and Valencia signaled it needs funds to cover current and past overspending, adding fiscal pressure on Prime Minister Mariano Rajoy."
Spanish towns in hock as banks cope with $250B in bad loans
Inflation adds to Spanish woes with jump to 2.7 per cent
Stocks Drop With Euro as Spain Delays Bailout Decision
German Unemployment Rises for a Fifth Month Amid Crisis
Germany Is Cornered
Egypt's Central Bank sells 513 mn euros of T-bills
Brazil Cuts Rate Again, Hints Easing Cycle May be Over
Daewoo Shipbuilding 2Q Net Falls 33% on Lower Ship Prices
German shipbuilder P+S files for insolvency
Beware, Asia: 'Lost Decade' of trade coming
The "Pauperization of Europe"
"It started on Monday. 'Poverty is returning to Europe,' said Jan Zijderveld, head of Unilever's European operations, in an interview. The British–Dutch consumer products company, third largest in the world, was adjusting its commercial strategy to this new reality, he said, by redeploying to Europe what worked in poor countries of the developing world. Now the stars of the industry are affirming it. 'The logic of pauperization,' L'Oréal CEO Jean-Paul Agon called it on Wednesday."
Eco-commune flourishes as Greek economy withers
"With Greece's economy in freefall, nearly one in four out of work and the desperate jobless turning to the land to survive, the group's focus on growing their own produce and cutting down their reliance on money and a bankrupt state suddenly make practical sense to many Greeks - and some are now turning to the vegan commune for advice."
I have previously noted that Greece is a bellwether, and that we should be learning from the Greeks. We have learned philosophy from them, and now it is how to survive as industrial civilization crumbles. -- RF
France to Hire 150,000 Subsidized Workers With Zero Qualifications; Why Stop There?
The Gold Standard gets another look
Property prices fall by 13.6% (Ireland)
Everyone Is Ignoring A Sign Of US Economic Decline We Haven't Seen In 60 Years
Moody's cuts growth view for emerging economies
"Moody's Investors Service on Thursday downwardly revised growth forecasts for Group of 20 emerging economies, citing a troubled external environment and weaker domestic demand."

## Airline Death Spiral ##
Asian airlines lose share as global traffic slows
United Airlines says equipment failure caused delays
Twin Cities getting hit by Delta Air Lines cuts
A4A: US airlines revenue up 8%, reports USD1.1bn net loss in 1H2012
How Many Dreamliners Does Boeing Have To Deliver To Turn a Profit?
Can Berlin be a real startup hub without a real airport?
China Eastern Profit Tumbles 65% on Fuel Costs, Currency
Air China experiences a worsening of its financial results in half year 2012

## Fault lines/flashpoints/powder kegs/military/war drums ##
US Preparing for a Post-Israel Middle East?
Beijing to issue 'three nos' to Japan over Diaoyutais
Iran doubles underground nuclear capacity: U.N. agency
Iraq Kurds ready for talks over crisis, oil: deputy PM
Marseille calls for army as drug killings escalate
The American Onslaught Against International Law
Uzbekistan Lawmakers Ban Foreign Military Bases
Five Australian Troops Killed by Afghan Trainees

## Global unrest/mob rule/angry people/torches and pitchforks ##
TDP intensifies protest against Andhra Pradesh power shortage
Fewer than 7 pct of Lonmin workers reports for duty

## Energy/resources ##
Massive blackout hits Karachi
In Isaac's Wake, the Bayou Blackout: 900,000 Without Power as Storm Moves Inland
Restart date unclear for Venezuela refinery hit by blast
South Africa: mine unrest to affect potential investment
Gazprom Postpones Development of Shtokman Field
"Russian state-controlled gas company OAO Gazprom has indefinitely postponed development of its giant Shtokman gas field, the latest delay to its yearslong efforts to tap the Arctic field with France's Total SA and Norway's Statoil ASA."
Barclays' Brent Crude Oil forecast for 2013 is $125/bl; $180/bl by 2020
Oil Giants Pour Billions Into Bakken Shale
"The wells here, which use the hydraulic fracturing or 'hydrofracking' technology, cost about $8.5 million on average to drill and complete, with break-even pricing linked to market prices at $55 to $70 per barrel."
Sri Lanka increases hydropower generation; power cuts to remain
Israel to export gas, but domestic use comes first
Italians Squeezed by $9.50-a-Gallon Gas Face Costly Drive Home
U.S. Gasoline a Bargain as Drivers Pay 63% Less Than Norway
S.Sudan could take 6 months to resume oil output
Yellowknife has dozens of power failures this year (Canada)

## Infrastructure scavenging ##
Cable crooks cut off 400 telephone lines
Wire and Metal Thefts From City Light Poles Continue to Plague Redlands

## Got food? ##
U.S. soybeans hit record high as demand remains firm
The U.S. Drought Is Hitting Harder Than Most Realize
World food prices jumped 10 percent in July: World Bank
"World food prices jumped 10 percent in July as drought parched crop lands in the United States and Eastern Europe, the World Bank said in a statement urging governments to shore up programs that protect their most vulnerable populations."
North Korea may be facing new food crisis: aid worker
6 New GMO Crops that May Soon Hit Your Dinner Table
Introducing Microgreens: Younger, And Maybe More Nutritious, Vegetables

## Environment/health ##
Steel pollution case highlights Italy's slow decline
Drug resistant tuberculosis found across the world

## Intelligence/security/internet ##
U.S. is the Worst Police State in the World – By the Numbers
US-Mexico border: Efforts to build a virtual wall
Researchers grow cyborg tissues with embedded nanoelectronics
Correspondence and collusion between the New York Times and the CIA

## Systemic breakdown ##
Network defect behind DoCoMo international woes

## Japan ##
Despite European Union bans, Japan imports Iranian oil
Japanese majority favor zero nuclear power
Nippon Steel, Sumitomo Expect Big Losses Before Merger
Cheap Chinese steel threatens Japan mills: report
Nuke plants on faults may get OK to stay online
Anti-nuclear protests signal new activism in Japan
New farmers up 6.5% in 2011; 1st rise in 2 years

## China ##
ICBC's Profit Growth Slows as Overdue Loans Rise for China Banks
Exclusive: China considers downgrading domestic security tsar in next line-up
Carlyle China Partner Fosun International Says 1st-Half Profit Fell By 54%
China's Stocks Head for Fourth Monthly Loss as Earnings Falter
China Sunergy Q2 loss widens as sales decline
Chinese shipping firms' losses widen in H1
Debt Cloud Hangs Over Chinese Solar Industry
Modern China: A tale of luxury villas and displaced villagers
China's Wen says global crisis worsening
Fukushima to expand forest areas for radiation decontamination

## UK ##
Pet cats turn feral, grow to 4ft and stalk countyside, claims professor
The skies open up for large civilian drones
Summer 'wettest in 100 years', Met Office figures show
Butterflies 'more endangered than tigers'
"Bumblebees, beetles and butterflies are at greater risk of extinction than lions and tigers, according to a global study by the Zoological Society of London."

## US ##
Consumer Comfort in U.S. Hovered Last Week Near Seven-Month Low
Ohio drivers zapped at the pump by Isaac
GM Temporarily Halts Volt Production over Low Sales
'Real' Homeownership Rate at Nearly 50-Year Low
Behind the New View of Globalization
Dow Falls to 4-Week Low
As Bank Profits Plunged In 2011, Banker Bonuses... Rose
Governor Brown Admits the Obvious "We Have Lived Beyond Our Means"; Brown Agrees  to Vast Overhaul of the California's Pension System; Unions Howl Over Obvious Truth
Student-Loan Debt Rises to $914 Billion in 2nd Quarter
More Utilities Dragged Into Smart Meter Firestorm
More Pain to Come for Facebook
Debtors' Prison Is Back -- and Just as Cruel as Ever

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