Sunday, September 16, 2012


News Links, September 17, 2012

## Global Ponzi meltdown/House of Cards ##
Greek President's salary to be halved, expenses scrapped
The top 10 Middle East hotels that never were
Cost of living in Dubai rising rapidly
Austria Central Bank, Germany Place Conditions on Spain Bailout and Bond Purchases
Senior German coalition lawmaker says parliament won't approve 3rd Greek rescue package
Istanbul Aims to Outshine Dubai With $2.6 Billion Bank Center
China-Japan Island Dispute Worsens in 'Blow' for Global Economy
South Korea seeking to grow won trade with China
"South Korea is seeking to expand the use of the won in trade with China as part of efforts to 'internationalize' its currency and better cope with external risks by reducing its reliance on the dollar, South Korean Finance Minister Bahk Jae-wan said."
By 2015, hard commodity prices will have collapsed
Taiwan's falling exports point to decline in competitiveness
Is this the end of an era for Gulf telcos?
"Long gone are the days when Middle Eastern telecommunications operators, flush with liquidity, went abroad and snapped up companies — spending over $40bn in the process — only for retrenchment to follow in the wake of the global credit crisis and the subsequent fall-out from the Dubai debt crunch."

## Airline Death Spiral ##
Airlines slow to order jumbo-jets
"Struggling airlines, production delays plague sales."

## Fault lines/flashpoints/powder kegs/military/war drums ##
A World On The Verge Of War?
4 NATO troops killed in 'insider' attack in Afghanistan
Russia, Central Asian States to Hold Air Defense Drills
Task force targets Chinese shipments of meth chemicals
Iran plans military exercises in preparation for Israeli strike on nuclear facilities
Iran commander doubts attack is coming
"The commander of Iran's Revolutionary Guards said Sunday threats of an attack by Israel or the United States were likely just political posturing."
Armada of British naval power massing in the Gulf as Israel prepares an Iran strike
"An armada of US and British naval power is massing in the Persian Gulf in the belief that Israel is considering a pre-emptive strike against Iran's covert nuclear weapons programme."
Iran on brink of nuclear bomb in six-seven months: Netanyahu
Iran's Revolutionary Guards commander says its troops in Syria
"Members of Iran's Islamic Revolutionary Guards Corps (IRGC) are providing non-military assistance in Syria and Iran may get involved militarily if its closest ally comes under attack, commander-in-chief Mohammad Ali Jafari said on Sunday."
Iran Says Will Hit Hormuz, U.S. Bases, Israel If Attacked
Taliban fighters wore US Army uniforms in attack on Prince Harry's base
Japan PM Noda urges China to prevent anti-Japan violence
US defence chief Panetta warns on Asia territory rows
"The US defence secretary has warned territorial disputes in East Asia have the potential to become wider conflicts if provocations are not reduced."
Panetta seeks closer Sino-U.S. ties as China military expands
17 bodies found dumped along road in Mexico
Most Iranian dissidents moved from Iraq camp
"Iraq has moved most Iranian dissidents out of a camp they have lived in for decades to a former U.S. military base in Baghdad, ending a lengthy standoff with the group once sheltered by Saddam Hussein, officials said on Sunday."
More details emerge on U.S. ambassador's last moments
"Three days before the deadly assault on the United States consulate in Libya, a local security official says he met with American diplomats in the city and warned them about deteriorating security."
US Struggles to Send Spies, Troops, Drones to Libya

## Global unrest/mob rule/angry people/torches and pitchforks ##
Video: Anti-US protests spread to Sydney, Australia
Air traffic controllers' strike grounds Libya flights
Second Day Of Anti-Japan Protests Rock China
Anti-Japan protests represent double-edged sword for China
"But the leadership headed by President Hu Jintao, who is expected to hand over power to Vice President Xi Jinping at the congress, is believed to be closely watching developments to make sure the anti-Japan protests do not turn into antigovernment, antiparty movements in the sensitive power transition period."
Saudi says arrests man over killing of policeman in Shi'ite area
Occupy Wall Street Plans to Surround NYSE Monday
Chicago teachers strike to continue: report

## Energy/resources ##
'Crude Oil supply-side surprises can test Saudi Arabia spare capacity'
Energy Ministry announces power rationing in parts of Ghana
Diesel price hike, LPG rationing to hit common man (India)
Saudi Arabia Talks with Turkey on Power-Grid Link, Official Says
Saudi Arabia Seeks Private Investors in Renewable-Energy Push
Tar sands, oil shale, and heavy oil: Why the conventional wisdom about unconventional oil is likely to be wrong
Crude Surges Above $100

## Got food? ##
Just 100 cod left in North Sea
"A survey of catches at European ports has found that fishermen did not catch a single cod over the age of 13 last year."

## Intelligence/security/internet ##
Mexico hackers hit official websites in cyber protest
FBI arrest suspect over 'bomb plot'
"Adel Daoud, said to be a US citizen of Arab descent, was caught in an FBI sting operation. Agents allege he was attempting to detonate what he thought was a car bomb outside a city centre bar.
"He has been charged with trying to use a weapon of mass destruction and trying to blow up a building, though the device that he planted was a bogus provided to him by undercover federal agents posing as extremists."
FBI launches $1 billion face recognition project

## Japan ##
Japanese firms halt some China production: report
Typhoon Brings Blackouts, Floods to Southern Japan
Nationalists converge on Shin-Okubo's Koreatown

## China ##
As Goes Steel, So Goes China
"'We reckon traders and mills have accumulated steel inventory of almost 100 million tons,' said Citigroup analyst Scarlett Chen to the Wall Street Journal this month.  Steelmakers are the core of Chinese manufacturing, and manufacturing is the core of the Chinese economy.  The gross overproduction of steel tells us China will not recover this year."
Hotels in China suffer poor occupancy rates
"A saturated market is expected to put enormous pressure on China's hotel industry in the next 3-5 years, as 56% of new hotels in the Asia-Pacific region will be built in China during this time, according to a survey report published by London-based STR Global, the leading provider of market data to the hotel industry."
China builds its own military-industrial complex
China struggles to cure the violent ills of health system
"Beijing is struggling to deal with an increasingly violent flashpoint of social unrest in its healthcare system, as its latest bid to cut costs is  failing to ease tensions among millions of people who cannot afford basic treatment."
Questions Abound as China Unveils Another Stealth Jet

## UK ##
Bad weather spells disaster for English apples
Biofuel target will add £35 every year to the cost of running a car

## US ##
Welcome to Goldman Sachs. Don't Get Too Comfortable
Chicago shootings unabated; 10 more shot overnight
Yield-Starved Investors Snap Up Riskier MLPs
The Numbers Don't Lie-Why Lowering Taxes For The Rich No Longer Works To Grow The Economy
Ron Paul: Fed Creating New Money Out Of Thin Air
Why QE3 Can't Work: Understanding The Liquidity Trap
QE3 May Top $1 Trillion: Analyst
Debt Collectors Using Prosecutors' Letterhead To Recover Debts

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