Wednesday, September 12, 2012


News Links, September 13, 2012

## Global Ponzi meltdown/House of Cards ##
Greece to Lease 40 Uninhabited Islands to Reduce Debt
'This is about as bad as it gets for Canadian exporters'
Canadian Exports Collapse, Expect Plunge in GDP; China Factor; US Recession Factor
German Finance Minister: U.S. debt, elections 'global burden'
India's manufacturing flat in July
Roadbuilders Stall on Bottlenecks: Corporate India
Crisis Fuels Catalan Independence Push
Egypt likely needs over $10 billion in aid: senior EU official
China And Russia Are Ruthlessly Cutting The Legs Out From Under The U.S. Dollar
Why OMT Cannot Possibly Solve Anything; Monti Warns Italian Unions; Over 200,000 Jobs at Risk
12% of Korean firms hit by tensions with Japan
Fiat Money Is Immoral

## Airline Death Spiral ##
Comair suffers major loss
China Eastern prepares US$570m share sale to cut debts

## Fault lines/flashpoints/powder kegs/military/war drums ##
Poll: Distrust of Americans spreads beyond Middle East
White House denies 'rift' with Israel over Iranian nuclear weapons
Israel's ultra-Orthodox fight to be exempt from military service
U.S. cautions Japan, China over escalating islands row
China, Japan dig in heels as rhetoric escalates over islands
US ambassador to Libya killed in rocket attack
US Ambassador killed in Libya: Barack Obama dispatches US marines to hunt killers
US Navy Launching Its First Drone Copter Squadron

## Global unrest/mob rule/angry people/torches and pitchforks ##
U.S. Cairo, Libya missions attacked, U.S. official reported dead
S.Africa miners blockade Amplats shafts: police
South Africa army put on 'high alert' for Malema rally
Saudi steers citizens away from Syrian "jihad"

## Energy/resources ##
IEA says world well supplied with oil
Cancelled Russian nuclear plant may cost Bulgaria €1 billion
Battle Over Fracturing In New York State Is Ramping Up
Diesel shortage hits Kampala
Auto Production Roars to New Records
Indonesia in risky game of catch-up
"Indonesia, one of the fastest growing economies in Asean, could face a crisis in the making as the current structure of electricity generation in the country is inadequate to meet future demands and infrastructure is outdated."
Worry more about power supply (Philippines)
Blackouts hit operations in main Venezuelan port
Another U.S. Solar Manufacturer Shuts Down
Platinum at 5-month high, S.Africa mine unrest spreads
Indian scientist calls for nuclear freeze
San Onofre nuclear plant to be offline for months
Energy's Dangerous Water Addiction
Liquidity drives another Egypt diesel crisis
Jordan's King tells AFP Israel disrupting nuclear plans

## Infrastructure scavenging ##
'Disgusting' thieves steal life-saving fire equipment
Scrap thieves target bins

## Got food? ##
Locusts threaten African Sahel food supply next year
Iraq food costs soar due to Syria crisis
Poor rains in Myanmar to cause high pulses price in India
Recalling 'Tortilla Riots,' Mexico President Warns About Food Crisis
Corn Prices Tumble on Crop News
The news looks pretty bad to me, but judge for yourself. -- RF

## Environment/health ##
Storm Isaac tars Louisiana beaches with oil from BP spill
'Astonishing' Arctic Ice Melt Sets New Record
Swimming pools starting to go au naturel
The Persistent Problem of PCBs
Homes With Living Roofs

## Systemic breakdown ##
Sabre latest to suffer reservation system outage, major airlines and hotel GDS hit
"Sabre Travel Network has joined the ranks of travel technology providers blamed for major system outages in 2012 after its reservation platform collapsed for hours yesterday."
Shortage of skilled workers a growing concern
Drug shortage a risk for patients in emergencies
Alarm over petrol skills shortage
As Global Food Prices Climb, So Does the Probability of Riots

## Japan ##
Student suicides at an all time high for 2011
Tohoku long way from healing 18 months on
Tokyo firms asked to stockpile water, food just in case
Zero-nuclear policy ready for inclusion in new energy and environment strategy
Applications for eco-car subsides slow despite imminent end to program
Exporters braced to lose as China strikes back in Senkaku standoff

## China ##
China maintains silence on Xi, rumor mill in overdrive
Xi Jinping had mild heart attack: Want Daily source
Will Pork Soar in China?

## UK ##
Patients' lives at risk in NHS hospital wards 'on brink of collapse'
UK banks could be shut down or forced into bail-outs by Brussels
Giving money to poor does not help them take responsibility for lives, warns Iain Duncan Smith
More people suffering from stress

## US ##
John Williams: US Facing National Bankruptcy As The Dollar Becomes Worthless
"John states his case that the US government can't keep its commitments and remain solvent. According to a US Treasury report, the real national debt is not $16 trillion, but more like $86 trillion on a present value basis. John also points out that this year's US budget deficit isn't $1.3 trillion, but $5 trillion when calculated on a GAAP basis. John believes the Federal Reserve is getting ready to announce an open-ended money-printing program. Lastly, John still sees the 2014 hyperinflation scenario as intact, unless the Republicans win in November and make significant and lasting changes to spending and taxation."
Warning: Stay Away From These Risky Bonds (On muni bonds)
Researcher Unearths Record Manufacturing Trade Gap
"You won't find it in any government press release, but an independent researcher combing through Census Bureau data said Tuesday that the U.S. ran a record trade deficit in manufacturing in July—$63.9 billion."
Employer-based health insurance costs rise again
Rich pull farther away from middle class
U.S. Grows An Industrial Complex Along The Border
The Student Loan Debt Bubble Is Creating Millions Of Modern Day Serfs
Nearly 40 Percent Of Young Adults Identify As Lower-Class: Survey
America the Gutted: What Happens When the Middle Class Disappears?
Household income falls as 46 million in poverty
U.S. Solar Industry Bracing for Utility Backlash Over Metering
Wholesale Inventories in U.S. Climb 0.7%, More Than Forecast
Subprime Auto Nation
America the Possible: Breaking the Chains of Consumerism
Retiring at 70 May Still Be Too Soon
It is just as I have been saying for a long time: Retirement for Little People is dead. -- RF

And finally… Half of Americans think bad weather affects 'cloud computing'

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