Monday, September 10, 2012


News Links, September 11, 2012

## Global Ponzi meltdown/House of Cards ##
U.K. and Chinese Economies Fall Apart
Car sales fall 19% in August, first in 10 months (India)
Xstrata to restructure Australia ops, cut 600 jobs
South Korea sets $5.2 billion stimulus package as economy falters
Bad Loans Weigh Down Vietnam
Bank of France sees Q3 GDP contracting 0.1 pct
Greek gov't fails to agree on spending cuts
Five Years Since The Great Financial Crisis: "No Growth, No Deleveraging"
138 Years of Economic History Show that It's Excessive PRIVATE Debt Which Causes Depressions
Indian telephone use declines for the first time
"The number of telephones being used in India fell for the first time in July as the growth of mobile subscriptions begins to taper off after years of stellar performances."
Euro debt woes start to hit Dubai exports
ThyssenKrupp's Steel Americas to post major loss in FY 2012
QE3 can drive Gold to $1800: Barclays
Euro Zone Will Pay 'Terrible Price': Jim Rogers
Coal mining jobs slashed in Australia
"Amid falling commodity prices and rising costs, two of Australia's mining giants announced job cuts totaling 900."
Soros: Germany's heading into depression

## Airline Death Spiral ##
Air Nigeria shuts down in latest aviation setback
Joyce Sees Qantas International Unit Breaking Even by 2015
Final Bmibaby flight from East Midlands Airport
Air travel may get costlier as Air India mulls fare hike due to costly fuel

## Fault lines/flashpoints/powder kegs/military/war drums ##
Did the CIA just mess up on Iraq's 'weapons of mass destruction'?
It was all a transparent load of BS from the outset. But there's still no shortage of people ready to believe whatever cockamamie story that governments' propaganda machines come up with. -- RF
Controversial plan to split up Afghanistan
"A Tory MP proposes dividing the country into zones, some of which could involve the Taliban"
Israel discussing Iran "red line" with U.S.: Netanyahu
No "red line" for Israel's nuclear weapons program? -- RF
"Frustrated" IAEA wants immediate access to Iran site
'NAFTA on Steroids': New Round of Secret Trade Negotiations Begins
Raiders kill 38 in latest land clashes in Kenya
Mexican police find 16 bodies dumped in vehicle
France mulls partnerships on military drones: defense minister
Budget cuts seen squeezing US Marines' capacity, programs
Nigeria oil thieves kill 3 state oil firm staff
China rebukes Japan over plan to nationalize disputed islands

## Global unrest/mob rule/angry people/torches and pitchforks ##
Gold Fields says 15,000 workers strike at S.Africa mine
Thousands of villagers protest against Kudankulam plant
India nuclear protesters wade into sea to escape police charge
Saudis stage rare protest over security detentions without trial
West Bank city hit by violent price protests
"Palestinian youths attacked a local police station and other government buildings in Hebron on Monday as protests against the rising cost of living in the occupied West Bank turned increasingly violent."
Hiroshima survivors in Israel, hold nuke protest

## Energy/resources ##
Massive blackout hits Cuba
Balkans drought fuel fear of repeat winter energy crisis
"A second straight winter of blackouts and escalating energy prices is hanging over the Balkans as the driest weather in 40 years has depleted water levels and shows no signs of easing."
Jatropha, Wonder Biofuel, Continues to Crash and Burn in the Third World
India's power sector debt restructuring plan presents only a short term solution: S&P
Asian Water Scarcity Risked as Coal-Fired Power Embraced
Iran ships oil using private companies

## Got food? ##
Global food prices to remain up

## Environment/health ##
Environment: Watchdog group says testing of Shell's Arctic drilling safety gear was inadequate
Canadian wildfire forces 1,000 to evacuate
Massive wildfire drives hundreds from homes in Idaho
Climate change causing forest die-off globally
When Heat Kills: Global Warming As Public Health Threat
Global carbon trading system has 'essentially collapsed'

## Intelligence/security/internet ##
Big Data is Creating A Digital Nervous System
Al-Jazeera SMS service attacked by pro-Syrian hackers
GoDaddy hosted websites down 'in possible hack attack'
This Is How Facebook Is Tracking Your Internet Activity
Vietnam blocks, harasses online critics of government policy

## Japan ##
Moody's cuts credit rating on Panasonic
Japan revises down growth numbers for second quarter
Japan Cost-Cutting Leaves Compensation Approaching Crisis Low
Japan energy deadlock deepens; government fails to announce policy mix
Weariness from prolonged heat causing health problems
Tax grants to local govts delayed
Weak exports trim Japan's July current account surplus by 40%
Japan's Defense Budget Request Down 1.7 Percent
Cabinet minister found dead at home in apparent suicide

## China ##
Xi Jinping Mystery Absence: China Vice President's Absence Fuels Rumors
Steel capacity surplus exceeds 160 million tonnes in China
"According to China industrial economic performance report of H1 2012, China steel capacity surplus exceeds 160 million tonnes and cement capacity surplus exceeds 300 million tonnes. The capacity utilization in aluminium smelting industry is merely 65 percent."
Downturn in China Spreads to Key Sectors
In China, imports and exports disappoint
China Fuel Prices Rise Second Time in Month as Oil Gains

## UK ##
U.K. Limits Spyware That May Have Targeted Dissidents
"The British government has imposed export controls on U.K.-based Gamma Group's FinSpy surveillance tool, which can remotely take over computers and phones, following reports that the systems may have been used to target political dissidents."

## US ##
Chicago teachers to strike for first time in 25 years
It is IMPOSSIBLE for the US to default!!! (Forbes)
We're all relieved to hear that. Now stop your whining and go shopping with your cheap dollars. -- RF
9/11 memorial to cost $60 million a year to operate
Worst performance at US box office in 10 years
University of Phoenix Tops Debt Slave Racket with 35,049 Student Loan Defaults (Top Public School has 786); Debt Slave Collection Business is Booming; Housing and Economic Implications
Consumer Credit in U.S. Unexpectedly Falls $3.28 Billion
David Stockman: U.S. Faces Permanent Fiscal Cliff
Drought to slow U.S. GDP growth: Macroeconomic Advisers
GM's Volt: The Ugly Math of Low Sales, High Costs
"Nearly two years after the introduction of the path-breaking plug-in hybrid, GM is still losing as much as $49,000 on each Volt it builds."
Free Haircuts Will Not Save JCPenney
HP Expands Job Cuts by 2,000

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