Wednesday, September 05, 2012


News Links, September 6, 2012

## Global Ponzi meltdown/House of Cards ##
EU Says Greeks Should Work 6-Day Week: Report
Eurozone PMI shows 7-month decline
Spain's Social Security Fund Runs Out of Money; Full Sovereign Bailout Hits €300 Billion; Breathtaking Implosion in Every Way; Five Things Spain Needs to Do
The German Economy Tanks, The ECB Throws Gasoline On The Fire, And Eurozone Bailouts Enter Phantasy Land
Indian finance, oil ministries push for fuel price increase
"India's finance and oil ministries are lobbying for an increase in prices of fuel such as diesel, warning cabinet colleagues that time is running out to avert a fiscal disaster and a sovereign credit downgrade to junk by global ratings agencies."
Australia's economic growth slows in second quarter
ECB Said to Ready Measures as Euro Zone Slide Deepens
"The euro zone's economic downturn accelerated during the summer, economic reports Wednesday suggest, raising concerns that even aggressive anticrisis measures from the European Central Bank won't be enough to keep the euro bloc from sliding into a deep recession."
Lifesaving Injection of Debt
"The bailout schemes get sillier and sillier. The Spanish bank Bankia has requested €19 billion in state aid, but in Bizarro World fashion will instead receive €4 billion in debt which it would then swap with the ECB for cash."
Europe Funds the Last Ponzi Game Standing

## Airline Death Spiral ##
Lufthansa Strike: 300 Flights cancelled
Auditor raises losses of Kingfisher Airlines by Rs 1,100 crore
Airlines' share prices fell 3% in August 2012: IATA report
Federal cuts could cripple regional airports (US)
Slowing world trade clouding air cargo prospects
Chinese airlines raise fuel surcharges

## Fault lines/flashpoints/powder kegs/military/war drums ##
China's Xi Jinping cancels Hillary Clinton meeting amid 'tensions'
China pledges to defend territory after Japan says it will buy islands
Bomb Iran? Why 5 top Israeli figures don't want to do it.
Two-Thirds of Planet Backs Iran Against "West"
After Dempsey Warning, Israel May Curb War Threat
Iraq Demands Evidence of Iran Shipping Arms to Syria
US Aircraft Carrier Stennis Is Now En Route To Join Enterprise And Eisenhower Off Iranian Coast
IDF ordered to protect strategic energy installations (Israel)
Nigeria pirates hijack oil tanker near Lagos
Palestinians slipping deeper into poverty: U.N.

## Global unrest/mob rule/angry people/torches and pitchforks ##
Army officers 'attacked, verbally abused' during the Olympics (UK)
Hong Kong school year starts with hunger strikes
Why didn't CNN's international arm air its own documentary on Bahrain's Arab Spring repression?

## Energy/resources ##
Must read: Canada says it needs foreign capital to develop its oil
The desperation is palpable. Despite all the "amazing new technologies," Canada's junk oil is so costly to develop that even this rich country can't afford it. Just like every other country, Canada is starting to sink and its leaders are grasping at straws. "Countries in the Asia-Pacific region are hungry for energy and minerals and metals and forest products they need to fuel growth and build a better quality of life for their citizens," says the natural resources minister in the full knowledge that there aren't enough resources on the planet for everyone to live developed-nation lifestyles. -- RF
The World's 25 Biggest Oil Companies
Saudi Arabia May Become Oil Importer by 2030, Citigroup Says
One wonders where they would import it from. -- RF
'India basket Crude Oil climbs to $113.97/bbl on Tuesday'
Gas stations running on fumes, begin to run out of fuel (Costa Rica)
Nigerian oil output slumps
Chemical reaction sparks alert at French nuclear plant
Russia and the World's Next Major Oil Spike
Obama May Release Oil from Strategic Reserve: Analyst
Oil industry still feels Isaac's impact

## Got food? ##
Few acres of corn in good or great shape
"Seven of the top 18 corn-producing U.S. states have less than 15 percent of the crop land listed as in either good or excellent shape, farmers reported."
Oxfam warns food prices to soar due to climate change
Nearly 17 million Americans repeatedly short of food: report
"The number of poor Americans who repeatedly ran short of food shot up by 800,000 in 2011 to nearly 17 million compared with 2010, the U.S. government said on Wednesday."

## Environment/health ##
L.A. axing 400 trees for shuttle Endeavour's final trip
The trees are much more valuable than the rusting symbol of a dying space program. -- RF
Media Coverage of Stanford's Organic Foods Study is Half Baked
Study on benefits of organic foods is misleading, consumer group argues
War might be making young bodies old
Record 2,118 cases of West Nile virus reported
Recovery from Thai flood lagging / Dikes remain unfinished at industrial complexes as rainy season approaches

## Intelligence/security/internet ##
A Classified CIA Mea Culpa on Iraq (Foreign Policy)
"In this exclusive from the National Security Archive, a secret agency report on its WMD failures is published for the first time."
Homeland Security's domain seizures worries Congress
"In a letter to the U.S. attorney general, Congress members cite concerns about 'seizing the domain names of websites whose actions and content are presumed to be lawful, protected speech.'"

## Systemic breakdown ##
France shooting: organised gangs prey on drivers travelling abroad
"Organised gangs targeting off-guard holidaymakers have become an increasing problem on the continent in recent years."

## Japan ##
Japan agrees to buy disputed Senkaku islands
Thirst for Energy Shapes Japan's Ties
Moody's Downgrades Sharp's Short-Term Rating To Junk
Wages in July decline for 3rd straight month
Funeral economy drive sounds death knell for traditional hearses

## China ##
Top 500 Chinese enterprises suffer declining margins
Shanghai steel rebar futures go below CNY 3300 mark
Food prices in China rise due to drought overseas

## UK ##
Olympic builder CLM's margin peaks at 41%
And finally… Zulu King Zwelithini's sixth wife 'needs palace'

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