Monday, September 17, 2012


News Links, September 18, 2012

## Global Ponzi meltdown/House of Cards ##
Canada's corporate 'dead money' grows as consumers fall deeper in debt
Freight rate price war not an option: Maersk CEO
"U.S. and European debt crises are paralyzing consumer demand for goods exported from China and putting downward pressure on some shipping rates, said Nils Andersen, chief executive of Danish shipping and oil group A.P. Moller-Maersk (MAERSKb.CO)."
China Crash 2012/2013 - Overcapacity And Bubbles (Part One)
"There can be no doubt now that China is undergoing a 'hard landing.' But that hard landing will soon turn into a crash. Although this is not the consensus view of analysts, the experts have called the slowdown badly wrong so far and are still wrong. No amount of fiscal and monetary stimulus to the domestic economy can dodge the pending crash."
Steel making countries at over-capacity: Arrium boss
Infinite QE; Central Bank Balance Sheets as Percent of Nominal GDP; Euro Demand Deposits; Break-Even Inflation Trends
Faber: Own Gold – "Don't Store It In The U.S., The Fed Will Take It Away From You One Day"
Spanish 10-year bond yields rise near 6 percent
India central bank cuts cash reserve ratio
Singapore recession risk looms after August exports shrink
"Singapore's non-oil domestic exports (NODX) in August fell more than expected, raising the prospect of the city-state entering into a recession as exports to the European Union plunged."
ArcelorMittal Could Shutter Belgian Steel Plant
Global Auto Sales to Fall in 2013
Shine Comes Off Euro Membership, Even for Poorest Country

## Airline Death Spiral ##
Major Chinese airlines incur US$165 ml in foreign exchange losses
AirAsia allowed 30% fuel fee hike; other airlines aim to raise charges as well
Cathay Pacific, Dragon Air seek 8-11% fuel charge hike
Crash of domestic airlines: N86.7bn bail-out fund down the drain (Nigeria)
El Al to stop flights to Cairo due to heavy financial losses
Kingfisher may face operational shutdown
Southwest, Delta, US Airways raise fares
American Airlines Cuts U.S. Capacity Amid Higher Cancellations

## Fault lines/flashpoints/powder kegs/military/war drums ##
China pushes Japan with sea claims, trade threats
"China has moved to bolster its legal position in a volatile territorial dispute with Japan, state newspapers said on Monday, warning that Japan could endure another 'lost decade' of economic stagnation if Beijing turns to trade retaliation."
1,000 Chinese boats to arrive in waters near Senkakus: report
Chinese fishing boat intrusion could lead to 'new stage,' Noda aide says
"Japan cannot remain idle if Chinese fishing boats arrive near the Senkaku Islands, an intrusion that could bring the dispute to a new level, an aide to Prime Minister Yoshihiko Noda said."
Anti-Japan Demonstrations Spread, Costs Rising, as the Japan-China Crisis Worsens; China Defining New Regional Order
U.S. and Japan agree to bolster missile defense radar in Japan
U.S. and allies to hold Gulf military exercise
"Warships from around the world were assembling in the Gulf on Sunday for what the U.S. military described as the most widely attended international naval exercise ever held in the Middle East."
China steps up military, Air Force drills in Tibet
China's concerns over US-Japan missile deal
Iran's newest nuclear facility struck by 'saboteurs'
"Saboteurs have struck Iran's newest and most sensitive nuclear facility by blowing up its power supply cables, the head of the country's atomic energy programme disclosed."
Anti-Islam film: Hezbollah calls for new protests
"The influential leader of the Lebanon-based Shia Muslim militant group, Hezbollah, has called for fresh protests over an anti-Islam film."
Car bombing near Baghdad International Zone kills seven
Saudi Arabia says job-creation policy bears fruit
"In January, Fakeih said the Middle East's largest economy needed to create 3 million jobs for Saudi nationals by 2015 and 6 million by 2030, partly through "Saudi-ising" work now done by foreigners."
4000 Marines Headed To Middle East As Part Of Peleliu Amphibious Group Dispatch
In a first, Indian tank brigades to defend China border
US Sends Marines to Yemen, 'Temporarily'

## Global unrest/mob rule/angry people/torches and pitchforks ##
Food Prices + Hunger Index = Riots, Civil Wars and Revolutions
Chicago Teachers Union to continue strike
Canadian auto workers mull strike
Occupy targets Monsanto
Occupy Wall Street marks anniversary, more than 100 arrested
Greek judges stop work to protest austerity
Indonesians clash with police outside U.S. Embassy
Police had hands full controlling protesters in Shenzhen (China)
"What started out as an anti-Japan protest here quickly escalated into a free-for-all that only ended when riot police fired tear gas to disperse the demonstrators."
Occupy Spain Protests

## Energy/resources ##
South East Asian oil peak in the rear view mirror (part 1)
Tightening supply of raw materials worry Malaysian steel firms
"It is reported that the dwindling supply of raw commodities has become a major concern among local downstream commodity based industry players despite Malaysia being a world producer of palm oil, rubber, cocoa and to a certain extent rich in mineral resources such as gold, iron ore and coal."
Benefits of Thorium Are 'Overstated', UK Report Finds
Suntech Cuts Solar Cell Production In China
"Suntech, the world's largest solar manufacturer, said Monday that it is closing some solar cell production lines in China as the global market remains glutted with photovoltaic panels."
U.S. and Brazil - At last, friends on ethanol
Why Electric Cars Don't have a Future
Is the Electric Car Revolution Running Out of Juice?
Tesla may need to slow down electric car production
Oil Drops Most in Eight Weeks as Price Falls $3 in Minute
Blackouts Spur $18 Billion Power Grid Upgrade: Corporate India
Turkey to Start Importing Russian Gas Through Private Sector
Oil Refiners Suffer from Double Whammy Today

## Infrastructure scavenging ##
Minneapolis seeking ways to rein in scrap metal thieves

## Got food? ##
Full Planet, Empty Plates: The New Geopolitics of Food Scarcity
Shriveled Mich. Apple Harvest Means Fewer Jobs, Tough Year Ahead
10 things farm stands won't tell you

## Environment/health ##
5 Diseases on the Move in North America, Thanks to Climate Change
Cases of flesh-eating superbug MRSA double in UAE hospitals, say medics
Global swelter: World has 3rd-warmest summer on record
Canada Stops Its Defense Of Asbestos, As Quebec's Mines Close For Good

## Intelligence/security/internet ##
Apple patent may foreshadow iPhones that react to location
Cyber attacks threaten welfare reforms, ministers warn (UK)
Security firm to hold zombie crisis scenario (US)
Hackers stole Apple data from Florida company, not from FBI
Your smartphone will (eventually) be hacked

## Systemic breakdown ##
Gas-and-dash thefts rise after price hikes (Canada)
Toronto gas station attendant dies in 'gas-and-dash'

## Japan ##
Japanese firms shut China plants, U.S. urges calm in islands row
Panasonic, Canon shutter China factories amid violent anti-Japan protests
Gemba: U.S.-Japan security treaty covers disputed isles
"Foreign Minister Koichiro Gemba said on Monday Tokyo and Washington agree that disputed East China Sea islets claimed by Japan and China are covered by the Japan-U.S. security treaty."
U.S.: Solve island row calmly / Panetta says Washington will not take a side on Senkaku issue

## China ##
Anti-Japanese demonstrations criticized by Chinese media
"When mob mentality broke loose, demonstrators began to turn their indiscriminate malcontent on not only Japanese vehicles, stores and restaurants, but even a Rolex showroom and a McDonald's outlet, both which were looted without any reasonable to the issue of the disputed Diaoyutai islands."
China's fishermen flexing maritime muscle near Diaoyutais
How China's Rehypothecated "Ghost" Steel Just Vaporized, And What This Means For The World Economy
Guangdong simplifies yuan trading

## UK ##
44% more homeless families living in B&Bs
"The number of homeless families living in temporary bed and breakfast accommodation has risen by almost half over the space of a year."
Britons increasingly negative about impact of immigration
Jobseekers' finances and prospects crippled by 'transport poverty' and high fuel costs

## US ##
Halliburton Asks National Guard to Help in Search for Lost Radioactive Device
SPR release expected by analysts
New York business index shows contraction
Insanity at the Fed! Bernanke to Print $480 Billion!
Bob Woodward: Fiscal 'Day of Reckoning' Is Coming

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