Saturday, September 22, 2012


News Links, September 23, 2012

## Global Ponzi meltdown/House of Cards ##
High Crude Oil prices may spur de-regulation in Asian region
Portugal backs down on social security tax rise
"The centre-right government in Portugal has agreed to look for alternatives to a social security tax rise a week after huge anti-austerity street protests."
Spanish shoppers learning thrift
Christine Lagarde, IMF Chief, Warns US About Short, Medium, and Long-Term Problems
Specter of China 'Hard Landing' Haunts Global Economy
Abu Dhabi's residency crackdown looks desperate

## Airline Death Spiral ##
American On-Time Arrivals Fall to 54% as Delays Spread
"American Airlines' on-time performance tumbled to 54 percent amid flight cancellations and delays that the carrier blames on a pilot shortage and increased maintenance issues."
Small airports struggle as major carriers pull back
False ceiling falls at airport, four injured

## Fault lines/flashpoints/powder kegs/military/war drums ##
US Marines possible in New Zealand - Panetta
"The United States has signalled it would be willing to station Marines in New Zealand, the US Secretary of Defense said today."
US ends ban on visits by New Zealand warships
Iran's Revolutionary Guard says expects Israel to launch war
U.S. stops 20 Iran officials attending U.N. assembly
Myanmar president says democracy won't change China friendship
Consequences of an Interventionist Foreign Policy (Ron Paul)
Panetta: Afghan Surge Mission Accomplished

## Global unrest/mob rule/angry people/torches and pitchforks ##
Russians protest utility costs
"Hundreds of people gathered in the streets of Moscow Saturday to protest the rising cost of utilities."
Pakistan Protests Over Islam Film Target U.S. Missions
Mobile phone-blocking after protests cost Pak firms Rs 450 mn
"The government decided to cut-off mobile phone services in 15 cities to prevent unrest, but the move failed as violence left 23 people dead and 200 injured."
At Least 4 Killed in Libya as Protesters Target Militia Bases
Hundreds in Tokyo rally against China
Greece's economic woes get more taxing
"A crackdown on widespread tax evasion stirs up a revolt in an island town and discontent elsewhere."
Hundreds march in Madrid anti-austerity protest

## Energy/resources ##
Venezuela, China Sign Gold-Mine Deal
Tax Credit in Doubt, Wind Power Industry Is Withering
Commodity markets look for hero in China
Energy shortage reduces capacity of textile industry by 30% (Pakistan)
With power cuts unabated, the ordeal continues (India)
The water problem is also an oil problem
"All those who believe oil and water don't mix, here's a quick 21st century update. The faster we run out of fresh water, the earlier we shall run out of oil."
It's Stone age, cry power-starved districts

## Got food? ##
Russia deputy agriculture minister "surprised" by grain export ban talk
"Russia's Deputy Agriculture Minister, Ilya Shestakov, said he was surprised by a sudden statement by Economy Minister Andrei Belousov that Russia could limit grain exports, and said neither a ban nor protective tariffs were under discussion."
Cooking-Oil Demand in India to Surge 44%, Boosting Imports

## Environment/health ##
Masks sent to smoky Washington cities
Worst Flooding In Decades Across Parts of Africa

## Intelligence/security/internet ##
Apple Buyers Make IPhone 5 Trackable With Police Help

## Systemic breakdown ##
Third of Canada's work force will retire in next five years
EU's Kroes: IT skills shortage looming large in Europe
Working in Energy: demand for relevant skills is soaring
"The energy sector is growing fast, and with good reason. 'The lights go out in 2017 at peak times, and go out a lot of the time in 2024, unless we act now,' says Neil Robertson, chief executive of Energy & Utility Skills Group (EU Skills)."
Maintaining a skilled labor force requires high inputs of cheap energy for education and training. Energy is already too expensive. It's all downhill from here. -- RF
33 power plants. 4,09,800 hectares of arable land affected. New cause for Vidarbha suicides? (India)
American Airlines flight cancellations wreak havoc on flying public

## Japan ##
Consortium comes together to save Renesas
Town hosting stricken Fukushima No. 1 plant bans residents from returning for five more years
U.S. Marines, GSDF 'retake island' in Guam drill
"The Ground Self-Defense Force and the U.S. Marine Corps on Saturday held a joint drill on Guam aimed at bolstering their ability to defend remote islands."

## China ##
PBOC Adviser Sees No Signs of Rebound
Economic Slowdown Hits China Steel
Crew sightings suggest China's carrier ready for duty
Japan-related books disappear in Beijing; Chinese demand pay hikes from Japanese employers

## US ##
Pension Crisis Looms Despite Cuts
"Almost every state in the U.S. has made cuts to its public-employee pensions, seeking to dig out from the economic downturn, but so far the measures have fallen well short of bridging a nearly $1 trillion funding gap."
I told you so I told you so I told you so… -- RF
'Alarming': Life span drops sharply for least-educated whites
The Fed Now Owns 27% Of All Duration, Rising At Over 10% Per Year

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