Friday, September 07, 2012


News Links, September 8, 2012

## Global Ponzi meltdown/House of Cards ##
Global Payroll to Population Employment Rate at 27% for 2011
Portugal PM to address nation; more austerity seen
Military spending cuts squeeze suppliers - CEOs
"Declines in U.S. and European defense spending are putting heavy pressure on thousands of small and mid-sized companies that together build about 70 percent of major weapons systems, top defense and industry officials warned this week."
World's Richest Gain $25 Billion as Zong Now Top in China
"The 40 richest people on the planet added $25.3 billion to their collective net worth this week as global equities soared."
China Price War Draining Jobs in Germany's Solar Valley: Energy
China Announces Major Stimulus Program; Market Stalls on Job Numbers
Germany Trifecta: Steep Drop in Construction New Business, Services New Business, Manufacturing New Business
Jobless Greeks Resolved to Work Clean Toilets in Sweden
Soviet Bonds Are Haunting Putin
"Soviet bonds issued in 1982, Leonid Brezhnev's final year in power, are threatening the finances of Vladimir Putin's Russia. Investors and pensioners are pushing Moscow to honor its mid-1990s promise to account for Soviet-era pension guarantees and other liabilities, including bonds."
Germany Selling 5% Holding in Deutsche Post for $1.17 Billion
Gold may reach all time high of $2,000/oz by 2012 year end: Bank of America
Korean companies pull out of China over rising costs
Hungary Throws Out Monsanto AND The IMF
Russia's far east - a bridge to Asia, or to nowhere?

## Airline Death Spiral ##
Kuwait Airways likely to report $283 million loss
Lufthansa flights hit again by cabin crew strike
Lufthansa Drops 1,000 Flights Amid Biggest Cabin Crew Strike
Qantas Cut to Lowest Investment Grade by S&P on Losses
Kenya Airways staff cuts to hurt profit

## Fault lines/flashpoints/powder kegs/military/war drums ##
South Korea in military drill near disputed islands
Japan to boost isle defense capability despite cuts
"Japan's defense budget will post the biggest drop in more than half a century next year but Tokyo will make new investments in equipment to help defend remote islands, the defense ministry said on Friday."
Taiwan warns Japan against nationalizing islands
Taiwan President Urges Peaceful East China Sea Development
Iraq's Oil Exports Hide Broader Problems
Iraq blasts target Shi'ite mosques, kill eight
Is China 'Buying' Egypt From the US?
Iran, India find new way to settle oil shipments
Egypt and Iran, new twin pillars
In the US view, developments such as these make it all the more imperative to take out Iran. -- RF
Russia warns against attacking Iran over nuclear fears
"Russia has starkly warned Israel and the United States against attacking Iran, saying Moscow sees no evidence that Tehran's nuclear program is aimed at developing weapons, the Interfax news agency reported on Thursday."
Israeli Leaders Dial Back Iran War Rhetoric After Meetings With US Military Officials
US Sends More Spies to Help Organize, Train Syria's Rebels
Nigeria mobile phone masts to get 24-hour protection
Nigeria has former militants guarding oil installations
US to designate Haqqani network as terror group
Canada closes Iranian embassy and kicks out diplomats
British and Dutch urge sanctions against Lebanon's Hezbollah
Suspected Somali pirates fire on Italian navy helicopter
Uzbek leader sounds warning over Central Asia water disputes
"A dispute over Central Asian water resources risks provoking military conflict in the former Soviet region, Uzbek President Islam Karimov said on Friday, in a stinging criticism of plans by neighboring states to dam rivers for hydropower projects."
NYPD Now Has an Israel Branch
'US wants to seize Pak nuclear programme'
Protests shake West Bank as Palestinians hit by rising prices
## Global unrest/mob rule/angry people/torches and pitchforks ##
Bahrain police fire tear gas at banned anti-government protest
"Police fired tear gas and stun grenades at dozens of anti-government protesters who defied a ban on unauthorized demonstrations and marched in the center of Bahraini capital Manama on Friday."

## Energy/resources ##
Eleven killed in fresh violence over land in Kenya
"Armed raiders set fire to houses and killed at least 11 villagers in Kenya's Coastal region, a local elder and the Red Cross said on Friday, in an apparent revenge attack that is part of a long-running dispute over grazing land and water."
Flood of Pacific oil exports leaves West Coast refinery thirsty for crude
"A wave of Alberta crude oil is washing up on British Columbia shores, destined for export. But the sole refinery on Canada's West Coast is finding it so difficult to secure domestic oil that it is considering, instead, buying it from as far away as Saudi Arabia."
Saudi oil price rise to reverse discount for Asia

## Infrastructure scavenging ##
Callous thieves target Motherwell Cathedral five times in two weeks
Roof lead gang in second raid in Westerham

## Got food? ##
Record Corn Imports by China to Drive Rally, Rabobank Says
Drought hit Q3 farm income expectations in Midwest: Fed
Grain rationing or forced cattle and hog liquidation?
Detroit's Good Food Cure

## Environment/health ##
12 ways Romney, Obama are killing Planet Earth
Arctic ice melting at 'amazing' speed, scientists find
Many beetle species to remain undiscovered due to deforestation
Consumers turning back on white bread
Desert diversity cut by 'human activities'
"Humans may be destabilising desert ecosystems across the world, according to a new study."
3rd Yosemite hantavirus death reported; 12K more alerted
Recycling Jobs Now Even Dirtier and More Dangerous

## Intelligence/security/internet ##
Japan Defense Ministry to set up cyber warfare corps
Elite hacker gang has unlimited supply of zero-day bugs

## Japan ##
Cash-Strapped Japan Delays Spending
Government has enough money to last through November
Requests for 2013 budget hit record high
"Requests from ministries and agencies for the fiscal 2013 budget have come to a record level topping ¥100 trillion, government officials said Friday, underscoring the difficulty of balancing economic stimulus and fiscal discipline."
Summer power-saving period ends in three regions
Now we can have a breather while getting ready for the winter power-saving period. -- RF
Economists Cut FY12 Growth Forecast To 2.08%
Economy to shrink in Q3, OECD says
Sharp puts up properties in bid to secure fresh bank loans
Gloomy job outlook for graduates
Daio Paper to cut 1,000 jobs
Hachinohe fishermen troubled by cesium-tainted Pacific cod
Japan utility: No money to develop renewables

## China ##
China Gets Worst Ranking in Global Poll Since 2010
"Global investors are losing faith in China, giving the country's markets their worst rating in more than two years in the latest Bloomberg poll."
China's Goal of 10% Trade Growth Drifts Out of Reach
China to hike Petrol, Diesel prices?
Chinese steel companies facing real difficulties - S&P
City warned of water resource shortage (Shanghai)
China to invest 800b yuan in subway projects, 5 in Shanghai
China to Spend $156 Billion on Infrastructure

## UK ##
Scorching September temperatures bring mini-heatwave
London offers tax relief in North Sea

## US ##
Health care system wastes billions
"The U.S. health care system squanders $750 billion a year — roughly 30 cents of every medical dollar — through unneeded care, byzantine paperwork, fraud and other waste, the influential Institute of Medicine said."
'Zombies are coming!' U.S. homeland security department warns
Are You Better Off? 40 Statistics That Will Absolutely Shock You
Household Survey: Number of Employed Declines by 119,000 as Those Not in Labor Force Rises by Spectacular 581,000; Yes, Virginia, It's a Recession
Homeownership: An American Fantasy
Real Unemployment Rate Hits 11.7% As Spread Between Reported And Propaganda Data Hits Record
Subprime Auto Nation
"We've become a subprime auto nation, addicted to easy debt, living lives of hope, delusion and minimum monthly payments."
The doctor won't be seeing you now
"Next time you go for a checkup or medical procedure, bear in mind: There's a good chance the person writing that prescription—or holding that scalpel—never went to medical school."
Minnesota bank is year's 41st U.S. bank failure

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