Sunday, September 02, 2012


News Links, September 2-3, 2012

## Global Ponzi meltdown/House of Cards ##
Spain's Rajoy says euro zone yields not sustainable: papers
Rajoy Says Spain Can't Finance Itself in Call For 'Sacrifices'
Spain's Budget Deficit Already Exceeds Maximum for Entire Year; Path of Convergence
Rajoy says Spain already meets conditions for aid
"Spain will consider seeking extra aid from Europe on top of a 100 billion rescue of its financial sector but does not see any need for new conditions, Prime Minister Mariano Rajoy said in an interview published in European newspapers on Sunday."
Smart Money Is Buying Puts On The Market
Fuel price hike may lead to job losses (South Africa)
Greek Purchasing Power in Freefall, Unions Say
September Arrives, As Does The French "Dexia Moment" - France Nationalizes Its Second Largest Mortgage Lender
Iron ore plunge hurts small miners
"The smaller and newer players may need to cut their budgets to stay afloat. The greatest pain is in China and Australia."
Eurozone break up will lead to 'catastrophic' unemployment - UN
ESM head to Der Spiegel: rescue fund needs Germany
Commerzbank to Cut More Jobs, Close Branches - Report
"Commerzbank AG (CBK.XE), Germany's second-largest commercial bank, is preparing a new cost-cutting program including job losses and the closure of branches, German Sunday paper Welt am Sonntag reports without revealing its sources."
Sluggish foreign trade brings woe to shipping industry
Baltic Dry Index fallen from north of 1700 to the low 700 range
Korea reportedly hikes shipyard financing support
"South Korea has expanded financing support for its struggling shipbuilders by $3.5 billion for this year, Seoul's Yonhap news agency reported Sunday, citing a Financial Services Commission official."
The $47 Billion Hole in Pharma's Near-Term Future
In Italy, world's oldest bank faces uncertain future
Bahrain economy shrinks in second quarter
Danish Economy Shrinks More Than Estimated as Spending Drops

## Airline Death Spiral ##
Global Traffic Continues To Slow Down In July, IATA Reports

## Fault lines/flashpoints/powder kegs/military/war drums ##
Merkel urges Israel not to strike Iran: report
Washington, Tel Aviv Disagreements Lead to Scaled-down Exercise: Report
Iran to hold major air defense drill: commander
"Iran will hold a large-scale military drill involving all its air defense systems next month, an Iranian commander was quoted as saying on Saturday, one of a number of military simulations it has carried out this year."
IAEA Report Shows Iran Reduced Its Breakout Capacity
"The International Atomic Energy Agency (IAEA) report made public Thursday reveals that Iran has actually reduced the amount of 20-percent enriched uranium available for any possible "breakout" to weapons grade enrichment over the last three months rather than increasing it."
AP analysis: Iran's arms denials may indicate Japan-style push to nuclear 'threshold'
Syria rebels hit eastern airbase, seize missiles
Rebels hit army headquarters in Damascus
China developing new class of guided missile destroyer
Russia's Gazprom Tightens Its Stranglehold On Europe, France Falls: The Natural Gas War Gets Dirty
Afghan police recruits' training halted after attacks on Nato
Egypt retires 70 army generals

## Global unrest/mob rule/angry people/torches and pitchforks ##
Meeting the ultra-nationalist skinheads of Russia
Power-starved Haryana villagers block road for five hours
Jordanians protest fuel price hike
"Thousands of Jordanians protested late Saturday after Amman raised fuel prices for the second time in three months, dpa reported."
Hundreds protest Spanish health cuts
Protesters descend on Charlotte

## Energy/resources ##
Italy's fuel prices at record levels
Jet fuel prices hiked by 7.6 per cent (India)
Water: Good as gold for investors
Forget peak oil! Worry about peak lithium!
Gazprom: Shtokman project on indefinite hold

## Got food? ##
Commodity Thefts Sweep Canada
"Crop thefts are an annual problem in Canada, but are generally much smaller in size. The thefts this year are in such large quantities -- and from such hard to access areas -- that police are perplexed at 'a systematic theft of bulk food crops.' Indeed it's hard to imagine how thieves are transporting their haul and where they're keeping it."
Catfish farms struggle to hold on
Message from Stockholm: Smart water policies now or global food production in jeopardy
Barclays makes £500mn out of global food crisis
Algeria suspends import duties on animal feed
Bad news for movie fans, U.S. drought hits popcorn crop

## Environment/health ##
Oil spill stretches for miles by Exxon Nigeria field
20 percent of U.S. smoking, half of 1940s
Drought limits migrating birds' rest stops

## Intelligence/security/internet ##
Indonesia anti-terror squad kills two suspected militants
Software Meant to Fight Crime Is Used to Spy on Dissidents
How Your Movements Are Being Tracked, Probably Without Your Knowledge (US)
Domestic drone backers worry about privacy and security (US)

## Systemic breakdown ##
Transport Watch: Truck Driver Shortage Looms (US)
Mechanic supply running on E (US)
Deadly Blast in Venezuela Marks Failing Infrastructure
Pandora's Black Box

## Japan ##
Hon Hai May Be Walking Away From, and Dooming, Sharp
Doubling of the consumption levy may be kiss of death for small firms
Tokyo team conducts Senkaku isle survey
BoJ Is Helpless In The Face Of Japan's Structural Issues

## China ##
China's manufacturing slump deepens
Chinese Stock Index Caps Longest Monthly Losing Streak Since '04
Sharp decline in profits of Chinese automakers
China's steel traders expose banks' bad debts
China Economy's Deterioration Raises Risk of Wen Missing Target
Changes afoot as Beijing seeks new economic models to sustain growth
At China joint-stock banks, profit, bad loans rise

## UK ##
Newborns may be given whooping cough jabs amid worst outbreak in decades

## US ##
Buffalo Cleans Up From Dirty Industrial Past
Is US Economic Growth Now Finished?
Unfortunately, the writer doesn't see the major reason why growth is dead. -- RF
The low-wage jobs explosion
Municipal Bonds: Myth vs. Reality
4 Strikes Against Municipal Bonds
10 states drowning in consumer debt
Harrisburg to Run Out of Money in October; Inside America's Most Indebted City; Labyrinth of Fraud

And finally‚Ķ 16 Kickstarter projects that could destroy civilization

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