Tuesday, September 04, 2012


News Links, September 5, 2012

## Global Ponzi meltdown/House of Cards ##
Vietnam Manufacturing Slows in August
Economy, not just war, has many Pakistanis losing sleep
Fears Rising, Spaniards Pull Out Their Cash and Get Out of Spain
Spain's Capital Flight Now Worse Than Asian Financial Crisis
Spain to inject 6 billion euro into FROB bank fund: source
South Korea Readies New Stimulus Package
Public works may cushion blow for SE Asia as exports sag
By 2015 Hard Commodity Prices Will Collapse; Australia's Mining Boom Dies (and the Official Denials Start)
A Quadrillion Dollar Deflationary Debt Raft
Number of unemployed in France passes 3 million
Greek unions see 29 percent jobless
How Long Will the Dollar Remain the World's Reserve Currency? (Ron Paul)
German Drug Maker to Fire 1,100 Workers

## Airline Death Spiral ##
Operating Costs Outpace Airline Income in First Half
Typhoons cost S. Korean airlines about 17 bil won in lost sales
Yuan, fuel and weak demand depresses China Eastern financial results
No wage rise, no fly: Lufthansa flight crews strike, 26,000 passengers stranded
Kingfisher Airlines working on 'holding pattern' basis: Vijay Mallya
Lufthansa cabin crew to extend strikes on Friday

## Fault lines/flashpoints/powder kegs/military/war drums ##
Clinton stresses importance of South China Sea
China warns U.S. not to take sides in sea disputes
U.S. poised to forgive $1B in Egypt debt
Syrians fleeing war start to trickle into Europe
Syria's refugee exodus reaches 'astonishing' 100,000 in a month
US complicit in Israel war plans for Iran
U.S. warships under Iranian watch
Saudi police arrest wanted Shiite
India, China To Revive Joint Military Exercises
US-Backed Warlords Trade Reprisal Killings With Taliban

## Global unrest/mob rule/angry people/torches and pitchforks ##
Israelis protest rising living costs
Displaced Kashmiri youths clash with police during protest
Majority of Canadians worried about labour unrest at public elementary schools: poll
Your Taxpayer Dollars At Work: The Police Get An Upgrade For Close "Restless Native" Encounters (US)

## Energy/resources ##
The U.S. Drought and Electricity Generation
"For every gallon of residential water used in the average U.S. household, five times more is used to provide that home with electricity via hydropower turbines and fossil fuel power plants, roughly 40,000 gallons each month."
Libya's largest refinery restarts after war closure
Natural gas woes threaten Mexico
Fuel shortage worsens power shortfall (Pakistan)
"The power shortfall in the country again surged to 5,300 megawatts due to the non-supply of furnace oil."
Shortage Of Lpg And Frequent Power Outages (Ghana)
U.S. invests in methane hydrate research
Ocean-Shipping Firms Try LNG as Fuel Source
How Energy Shapes the Economy

## Infrastructure scavenging ##
'Federal teeth' to put the bite on US metal thieves?
"United States: In the wake of a surge in incidents, US federal officials are now proposing to tackle metal theft by making it a federal offence. Not a drastic call to make, according to New York Senator Charles Schumer, who has told Your News Now: 'It's not just an issue downtown; it's also in the suburbs. It's not just one type of metal; it's so many types.'"
Money Hungry Vandals Ripping Apart Cell Phone Towers in Area (US)
"Someone has been stealing metal from cell phone towers and that's disrupting service. 'It looks like it's a nationwide problem right now.'"
REDLANDS: Wire thieves darken blocks of street lights

## Got food? ##
Ug99 Fungus: Biological storm that may upset global wheat cart
Macedonia imports more than 60% of their agricultural needs due to heatwave
Where's the beef? Thieves steal 49 cows from Massachusetts farm
Action needed to prevent food price catastrophe: UN
Destitute North Korea's grain harvest seen falling sharply
France mulls plan to soften blow from soaring grain
Weak Indian Monsoon Dries Up Centrally-Planned Liquidity Expectations
Organic Food Adds No Vitamins for Extra Cost
An important consideration completely lost here is that agriculture dependent on pesticides and chemical fertilizers is unsustainable. -- RF
Food for thought: Big Bad Corn

## Environment/health ##
'A great silence is spreading over the natural world'
As Temps Rise, Cities Combat 'Heat Island' Effect
Hurricane Isaac may add to near record-setting West Nile outbreak
There's A 'Bear Epidemic' Out West, And It's 'About To Get Worse' (US)
A Summer of Extremes Signifies the New Normal

## Intelligence/security/internet ##
Anonymous Hackers Claim To Release One Million Apple Devices' Unique Identifiers Stolen From FBI
Canada Warns that Anonymous May Attack Oil Sands Energy Companies
Australia moves to buy $3b spy drone fleet
Argentina Begins Tracking All Credit Cards
"In an eerie glimpse of what a cashless society enables, the government of Argentina has taken the drastic step of mandating banks to report every credit card purchase to the tax authorities."
Roaming airport screeners look for people with something to hide

## Systemic breakdown ##
Global drug shortage: Toronto MD says doctors need to be part of solution
Depression, Suicides Rise as Euro Debt Crisis Intensifies
"Europe is approaching a crisis as the region's debt crisis and austerity measures increase the rates of depression, suicide and psychological problems – just as governments cut healthcare spending by up to 50 percent, according to campaigners, policy makers and health organizations."

## Japan ##
In Japan, Retirees Go On Working
150 trillion yen investment needed to save energy, expand use of renewables: economy minister
Fuhgetaboutit. Society is unable to make such an investment. One reason is The Energy Trap. -- RF
Osaka governments call for shutdown of Oi nuclear plant
Japan Aug nuclear plant usage 5.1 pct vs July 2.9 pct
Japan to set energy policy next week but no stance on nuclear power yet
Gov't unveils 'Grand Design' for Fukushima reconstruction
Like the reconstruction of the region damaged by the earthquake and tsunami, this will never get anywhere near completion. Most of it will be stuck on the drawing board as economic collapse overtakes the effort. -- RF
60% of town residents near crippled nuke plant pessimistic about decontamination effects
Chubu Electric projects 60 billion yen loss for FY12
Japan Post Bank aims to expand lending business
More debt expansion is the only prescription they have. -- RF

## China ##
Chinese steel prices reels unabated in September
600,000 temporary residents left Beijing last year: report
China Boosts Rail Spending for Third Time to Revive Growth

## UK ##
UK high street suffers a slump in sales due to Olympics

## US ##
Manufacturing ISM Contracts 3rd Month Led by Declining New Orders; Recession-Type Numbers? You Bet!
Thousands Lack Electricity, Six Days After Isaac
Residents Ordered to Evacuate as Dam in Louisiana Threatens Imminent Collapse
Manufacturing remained in slump in August
Moody's: U.S. Banking Outlook Negative Despite Stronger Banks
June Foodstamp Recipients Hit All Time High As Three Times As Many Americans Enter Poverty As Find Jobs
It's Official: $16,015,769,788,215.80
Central Bankers Fail to Understand Forces Holding Back the Economy; Ten Major Economic Headwinds
Student debt crisis enters a tipping point
Fedex Slashes Earnings Forecasts
Tooth Fairy Survey: $3 Goes Under the Pillow

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