Friday, September 14, 2012


News Links, September 15, 2012

## Global Ponzi meltdown/House of Cards ##
Spain Said to Be in Talks Over 300 Billion Euro Rescue
Renault, Fiat Chiefs Say More Cuts Ahead
"Top executives of Renault SA and Fiat SpA on Friday said European auto makers must take more, painful restructuring measures soon as sales in the economically troubled euro zone head into a long-term slump."
Egan Jones Downgrades US From AA To AA-

## Airline Death Spiral ##
Air India's international operations post losses: Minister
Lufthansa's Cost-Cutting Strategy Backfires

## Fault lines/flashpoints/powder kegs/military/war drums ##
China ships sail in waters near disputed islands
Chinese Patrol Boats Stand Down In Islands Row With Japan
"A squadron of Chinese patrol vessels has turned back from a tense standoff with the Japanese coast guard near a small group of islands claimed by both countries."
Itochu Acquiring Dole's Asian Business, Leading a Surge in Japanese Offshore M&A, But the Dispute with China Looms
Libya - Doomed from Day One
US Navy set to launch largest anti-mine exercise in Arabian Gulf
Afghanistan 'facing civil war when US troops leave'
Former German navy subs head to Colombia
Nine corpses found hanging from bridge in northern Mexico
Clinton: Japan, 10 EU nations get further exception on Iran oil sanctions
With oil closing in on $100, this was the only thing to do. -- RF
Revealed: inside story of US envoy's assassination
"Exclusive: America 'was warned of embassy attack but did nothing'"
China, Japan, New Zealand on Panetta's Trip Itinerary
Report: US Strike on Iran Would Spark Region-Wide War, Push Iran Toward Nukes

## Global unrest/mob rule/angry people/torches and pitchforks ##
Protests planned for Occupy Wall Street's 1-year anniversary
More protests break out in Muslim world as U.S. appeals for calm
U.S. warns of more anti-American violence
Anti-American fury sweeps Middle East over film
Sudan calls mass protest against anti-Islam film
"State-backed Islamic scholars in Sudan have called for a mass protest after Friday prayers over a film denigrating the Prophet Mohammed that originated in the United States and an Islamist group threatened to attack the U.S. embassy."

## Energy/resources ##
Looming global water crisis an 'urgent security issue'
Expecting a Boom, Oil and Gas Companies Invest in Sub-Sea Equipment
A reflection of the growing proportion of new oil fields at sea. -- RF
Angola seeks to be Africa's top oil power
China's power consumption slows further
"China's power consumption growth slowed further in August as factory activity and industrial output posted weaker growth amid the economic downturn."
Canada interested in selling India nuclear reactors
Crude oil tickles $99
Northeast facing acute cooking gas shortage (India)
Signs of cracks found at second Belgian nuclear plant
India gov't faces heat after raising diesel prices
Shipping gas to Asia a race against time, B.C.'s Clark says
Power supply shortage again touches 4,200 megawatts mark (Pakistan)

## Infrastructure scavenging ##
Thieves target damaged homes
"Abandoned quake-damaged neighbourhoods in Christchurch are proving rich pickings for criminals, with burglars risking entry to unstable buildings to strip out anything of value."

## Got food? ##
U.N. FAO chief says no need for panic over global food prices
Drought area expands in U.S., now most extensive this summer
"Hot and dry conditions continued to plague large parts of the U.S. Plains and southern states as the worst U.S. drought in over five decades expanded its grip on some key farming states."
Paris backs halt in biofuel use to avert food shortages
Millions in Ethiopia face severe food shortages
"Humanitarian assistance is desperately needed for over 3.5 million Ethiopians, the government here has reported. It comes as the seasonal rains that were expected in the East African country had not come, leaving more and more in dire need of help."
Slower ships pose chilled exports challenge
Another symptom of cold chain breakdown. -- RF
Power shortage hits rice milling
"Power cuts are crippling industries, particularly rice mills in north Telangana districts. As a result, the production and export of rice are badly affected, which may cause steep rise in rice prices."
Floods threaten Niger's main rice crop: minister
Organic farms sprouting up like weeds (Finland)

## Environment/health ##
Tens of thousands of feral camels culled in Australian outback
Harvard study: Fluoridated water lowers children's IQ
Flooding hits Italy's Adriatic Coast
White Roofs in Cities Could Reduce Rainfall

## Intelligence/security/internet ##
EMP attack on power grid could take down DOD systems, experts warn
"Defense systems that depend on the commercial electric grid are vulnerable to electromagnetic pulse attacks and solar storms that could seriously damage the nation's infrastructure, experts from the Homeland Security and Defense departments told a House Homeland Security subcommittee."
Lawmakers urge swift action after nuclear security breach
Europe hits old internet address limits
Twitter hands over messages at heart of Occupy case
House Approves Sweeping, Warrantless Electronic Spy Powers; "The Program"; Are Your Emails Being Monitored?
Apple Restores iCloud Email After Outage, Some Users Still Missing Emails

## Systemic breakdown ##
New national report card says Canada's municipal infrastructure "at risk"
"Canada's municipal infrastructure is at risk, with more than half of municipal roads requiring significant repairs and one in four wastewater plants needing major upgrades."

## Japan ##
Japan Warns on Strong Yen as Growth Outlook Downgraded: Economy
"Japan lowered the assessment for its economy, the first consecutive downgrade since the waning of the global credit crunch in 2009, fueling concern the world's third-largest economy will contract this quarter."
Japan Sees 20% Drop in China Tourism as Islands Row Heats Up
Japan Draws Curtain on Nuclear Energy Following Germany
Without Nuclear Power, Utilities May Face Tighter Credit
Weekly anti-nuke demo (photo)
Hashimoto in favor of Japan exercising collective self-defense
Sharp's losses may approach ¥300 billion, frighten lenders
Japan's July industrial output revised upward to 1.0% decline

## China ##
Home Depot to Shut Seven China Stores, Take $160 Mln Charge

## UK ##
Public cost rising for sending military and diplomatic children to public schools
Student numbers 'plummet by 57,000' as fees soar

## US ##
Drought to raise family grocery bill by almost $7 per week
States Pass 'Baker's Bills' to Lift Struggling Households
Boeing Air Force One Work in Texas Stirs U.S. Concern
"Boeing Co. (BA) risks a shortage of experienced employees to maintain Air Force One, the jumbo jet that flies the U.S. president, as the company shifts the work to Texas from Kansas, according to an Air Force letter."
Social Security and Disability Payments Hit Annual Records—With Month Left in FY
BofA Sees Fed Assets Surpassing $5 Trillion By End Of 2014... Leading To $3350 Gold And $190 Crude
Marc Faber: "Fed Will Destroy The World"
Higher Gas Costs in August Push Consumer Price Index Higher
Business Inventories Rise: Double Versus Expectations
The Oil Price Dilemma Returns
Power outage grounds flights at Calif. airport

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