Thursday, September 20, 2012


News Links, September 20, 2012

## Global Ponzi meltdown/House of Cards ##
German City Needing Aid Shows Debt-Crisis Tentacles
"Offenbach, a city of about 120,000 people neighboring Germany's financial capital Frankfurt, is so mired in debt it had to ask the state of Hesse for a 211 million-euro ($277 million) bailout in June."
Shipping Confidence Falls to Four-year Low
Steel maker warns on overcapacity (Australia)
Steel makers crippled by overcapacity (China)
German steel association cuts forecast for 2012 crude steel output
Car Sales Crater in Europe
Cash only obstacle to 1.5-mile high tower - expert
"Money is the only obstacle to building the first mile-high skyscraper, a leading building design expert said, revealing that a firm in the Middle East planned to build a 1.5 mile (2.4km) high supertower four years ago before the global recession saw the idea shelved."
Prince Alwaleed's fortune soars by $2.2bn
Deutsche Bank: Gold Is Money
The Close Tie Between Energy Consumption, Employment, and Recession
Luxury brands leave Argentina in droves

## Airline Death Spiral ##
American Airlines issues layoff notices, cuts flight schedule
"American Airlines said on Tuesday it has notified more than 11,000 workers they could lose their jobs as part of its bankruptcy reorganization, and said it was cutting flights by one to two percent for the rest of September and October."
More mergers, more problems for United Airlines
House Commitee Chairman Says A New Aviation User Fee Is Asking Too Much

## Fault lines/flashpoints/powder kegs/military/war drums ##
Chinese and Japanese vessels face off near disputed islands
The Mother of All Blowbacks is Coming
World Bank warns of deepening Palestinian fiscal crisis
Israel army in snap exercise to simulate war scenario
"Israel's military launched a surprise large-scale exercise on Wednesday on the occupied Golan Heights, testing its battle readiness amid tensions over Iran's nuclear drive and civil war in Syria."
Western report: Iran ships arms, personnel to Syria via Iraq
Afghanistan air base attack kills 2 Marines, destroys 6 Harrier jets from Arizona base
China Unveils Another Stealth Fighter During Panetta Trip
US Suspends Aid Talks With Egypt Following Anti-American Protests

## Global unrest/mob rule/angry people/torches and pitchforks ##
S.Africa police tear gas mine protesters: Amplats

## Energy/resources ##
Fire at Mexico Pemex gas facility kills 26
"An explosion and fire killed at least 26 people at a Pemex natural gas facility in northern Mexico near the U.S. border on Tuesday, one of the deadliest accidents in the oil and gas industry in recent years."
Crude oil slips under $93
Total sees long-term supply shortages
Siemens to Cut 615 U.S. Wind Energy Jobs as New Orders Dry Up
BP shuts down Norwegian oil field after leak
Blow-by-Blow PV System Efficiency: A Case Study for Storage

## Infrastructure scavenging ##
Metal thieves target Dartford electricity network
Fire Hydrants the Latest Target for Scrap Metal Thieves
Wire thieves creep through Idaho, Washington state

## Got food? ##
Gulf fertilizer output to surge as world population rises
"Arabian Gulf petrochemicals majors are increasing output of fertilizers, amid a brewing food crisis caused by booming populations in emerging markets."
Agent Orange chemical in GM war on resistant weeds
"A US pharmaceutical company is set to introduce a controversial new genetically modified corn to help farmers fight resistant weeds."
One doesn't need a crystal ball to know how this will end. Recall the definition of "insanity." -- RF
Alaska and the mysterious disappearing king salmon
Grocers in India feel price pinch
Mass slaughter of farm animals set to push food prices up 14%

## Environment/health ##
Fukushima Radiation: Japan Irradiates the West Coast of North America
Trees must fall to make way for space shuttle's L.A. road trip
Heat waves increase heart risk
Avian flu kills 6,300 birds in Guangdong
French GM-fed rat study triggers furore
Record minimum for Arctic sea ice
Drinking tea may help prevent chronic illnesses
"Research has long shown the antioxidant properties and health benefits of drinking tea, but new findings suggest that tea may also have significant preventative properties against chronic disease."

## Intelligence/security/internet ##
Experts: U.S. may be linked to previously unknown computer viruses in Mideast
China cyberattacks hit Japanese websites
Laws of war do apply to cyberattacks, US says

## Japan ##
No. of people hospitalized for heatstroke in August 2nd highest on record
Nationalism may rise under Japan's next gov't
Grain importers trying to cut dependence on drought-hit U.S. Midwest
"Amid the prolonged drought in the U.S. Midwest grain belt, Japanese traders are stepping up moves to diversify supply sources to reduce their heavy dependence on U.S. corn and soybeans."
Cabinet fails to OK new nuclear strategy
Japan's Tokyo Electric aims to buy North America LNG
Bank of Japan Joins the Party
Japan residential land prices fall for 21st year

## China ##
China cleans up after angry anti-Japan protests
Chinese leaders may come to regret anti-Japan protests
"China's decision to open its streets to a wave of anti-Japan protests could end up rebounding on Beijing, which has emerged from days of fervent nationalism with eroded authority at home and fewer options in dealing with Tokyo."
Protesters surround car of US ambassador in Beijing
China's FDI inflow falls for third month
Beijing bans anti-Japan protests
Demonstrations in China target not only Japan but also Chinese government
Over 700 Chinese fishing boats operating 230 km from Senkakus: CNS

## UK ##
Bristol Pound launched to keep trade in the city
"It is a direct assault on global trade. The city of Bristol has launched its own currency, which cannot be used in Bath, never mind Berlin or Bombay."
No more automatic pay rises, says Bank of England
Only one in six 'baby boomers' in good health

## US ##
Trees must fall to make way for space shuttle's L.A. road trip
Politicians Swear to "Never Forget" 9/11 Victims … Then Slash Healthcare for Heroic First Responders
Halliburton Loses Radioactive Rod, The National Guard Is Called In to Help
Portraits of drought: Low river levels stall barges
California May See More Bankruptcies, Chiang Says
California August Sales Tax Collection Down 20% From Year Ago, Total Revenues Down 5.5%, Income Tax Up 11.6%; Spending Out Of Control By $3 Billion
As economy weakens, New Jersey's housing defaults hit new highs
Is The Fed Systematically Destroying Social Security and Retirement Plans?
U.S. Economic Freedom: Retreat Becomes Rout
Fewer Americans Prepared for Retirement
Chicago's Next School Crisis: Pension Fund Is Running Dry

And finally… 
Not much action in football games
"According to a Wall Street Journal study of four recent broadcasts, and similar estimates by researchers, the average amount of time the ball is in play on the field during an NFL game is about 11 minutes."
A Patent for What?

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