Tuesday, October 16, 2012


News Links, October 17, 2012

## Global Ponzi meltdown/House of Cards ##
European car sales 'fall for 12 months in row'
Portugal PM faces battle over austerity budget
Retirement No Option for Older Workers in Europe's Crisis
Once a Darling, Australian Dollar Loses Favor
Stock Trading Mired In Global Decline
India inflation rises to 7.8% in September
Tata Steel Europe to rationalise operation; cut output, jobs
More S&P Downgrades in Spain
"Last week we saw that Standard & Poor's had downgraded the credit ratings of Spain to BBB-. The move might as well have been a formal cut to junk bond status because the outlook was negative. Our take remains static: you have not seen the last of the credit rating downgrades for Spain nor for the rest of the PIIGS. Now we have seen today several regional cuts in Spain following last week's downgrade of the nation."
Loblaw supermarkets ax 700 admin. jobs
"Canada's largest supermarket chain, Loblaw Inc., announced Tuesday it is cutting 700 administrative jobs from its Toronto-area headquarters."
Canada Household Debt Approaches US Bubble Levels; Inane Housing Comments From Canadian Economist
Intel sales and profits fall in third quarter
Carlos Slim: bullish on gold
Vietnam Economic Ascent Threatened as Middle-Income Trap Looms
The Rise of the Super-Rich Is a Global Phenomenon: Chrystia Freeland
"Freeland says globalization is at the root of income inequality around the world."
Doomsday Cycle targets America next

## Airline Death Spiral ##
Edinburgh and Glasgow airports hit with aircraft fuel shortage
Italian airline says it will save $39.1 million
"Italy's struggling Alitalia airline said it would lay off 690 workers in a bid to save $39.1 million in operating expenses."
Guarantee for SAA is 'not a bail-out'
Asia's Full-Cost Carriers Still Face Headwinds
Demand, hike in fuel prices make flying a costlier affair

## Fault lines/flashpoints/powder kegs/military/war drums ##
US Begins Talks to Extend Troop Presence in Afghanistan Beyond 2014
"Reports say Washington is vying for an agreement with Kabul that would keep tens of thousands of troops there until 2024"
Syria: An Energy-Based Proxy War in the Making?
Syrian rebels agree to form united leadership: sources
AP: Drones, forces set for possible Libya strike
The Great Demographic Revolution and Depopulation of Industrialized Countries
The primary factor behind population decline is energy decline. Flagging economies will of course discourage people from having babies, but shortages of food and fuel will have a devastating impact. -- RF
EU slaps sanctions on Iran oil, gas industries
Iran may sue over latest EU sanctions
How are the Sanctions Against Iran Progressing?
U.S. Navy, Allies Find Less Than Half the Sea Mines Planted in Key Exercise
"This outcome of the highly publicized military drills — not publicly known until now — underscores how difficult it may be for the United States and its partners to detect and incapacitate waterborne explosive devices that Iran has threatened to plant if its nuclear facilities come under attack."
Poll: 80% of Palestinians, Israelis Say Attack on Iran Would Spark Regional War
China overtakes Japan in Asian military spending
Israeli Army Radio ban on protest song raises controversy
Some 72 million living as refugees around globe in 2011: Red Cross
Spain police arrest suspected Chinese mafia members

## Global unrest/mob rule/angry people/torches and pitchforks ##
At least five arrested as thousands rally in Kuwait
Kuwait opposition group calls for sit-in after arrests
South African police clear out Kumba strikers, arrest 40
Student protest in Mexico turns violent, 176 arrested
The mood turns dark (India)
"Unpredictable and long spells of power cut have begun to infuriate people in most parts of the State. With domestic consumers of electricity experiencing, on an average, 12 to 14 hours of load-shedding, there are increasing signs of people losing their patience."

## Energy/resources ##
Egypt Halts Gas Exports Amid Shortage, Plans Fuel-Subsidy Cut
Junk oil: In 'marginal' oil sands, cost efficiency crucial, says new Statoil Canada head
"The oil sands are a 'marginal' resource, and Statoil ASA's new Canadian president believes companies tapping it must substantially optimize the way they work, or risk fumbling a play that could prove to be the world's largest."
Gas Drillers Await $4-$5 Price Levels
Uganda's planned oil laws face fresh delay: lawmakers
Bulgaria: Power substation literally exploded: says eyewitness
Power failure hits S. Kalimantan, residents told to be patient
New EU biofuels law could be last straw for farmers
Diesel fuels fastest rise in inflation
Green Crude: The Quest to Unlock Algae's Energy Potential
In Another Blow For "Green Industry" A123 Files For Bankruptcy After Collecting Hundreds Of Millions In Government Grants
REC Slumps as Weak Solar Prices Extend Run of Losses: Oslo Mover
Jean Maugeri - Part II (The Oil Drum)
India's emergency oil stock storages face delay

## Got food? ##
Current EU fisheries policy is unsustainable, study says
"The EU's fishing industry could be heading towards ruin without robust regulatory reform, says a new WWF-commissioned study."
The Imminent Food Crisis (Nigeria)

## Environment/health ##
Demand for palm oil, used in packaged food products, leaves orangutans at risk
Palm Oil's Long Shadow
Fighting Deforestation, Global Warming and Disease with Solar Cookstoves

## Intelligence/security/internet/cyberwar ##
Republicans Warn Obama: Cybersecurity Executive Order Will Practically Destroy the Internet
'Mini-Flame' virus hikes Mideast cyberwar
"The concern now is that the Iranians are driving to develop their own cyber weapons -- and recent evidence suggests they're well advanced -- to strike back against the United States and Israel in what Rear Adm. Samuel Cox, director of intelligence at the U.S. Cyber Command, calls 'a global cyber arms race.'"
The Obama And Romney Campaigns Know If You've Visited Porn Sites. Why 'Do Not Track' Matters.
Email Inbox Not Private, Says South Carolina Court
Hackers attack Haaretz Hebrew, English websites

## Systemic breakdown ##
The infrastructure crisis must be sold
Truckers know that America's roads and bridges are falling apart. -- RF
South Africa's $40B Water Gap Threatens Growth
"Crumbling canals, dams and pipelines and a lack of funds to expand, replace and maintain them threatens to stymie economic growth and efforts to tackle a 25 percent unemployment rate in Africa's biggest economy."
Report: 180 Solar Panel Makers Will Disappear By 2015

## Japan ##
Fukushima district a wasteland despite preparations to lift evacuation order
Noda plans new economic stimulus by end of November
IMF Raises Alarms over Japan's Dangerous Fiscal Course
Panasonic wins $7.6 billion loan commitments from banks
Chinese warships spotted off a southern Japan island
China says warships were on scheduled cruising exercise
Toyota to halt production at China plant
Electricity sales dip amid conservation
U.S. support on Senkakus sought

## China ##
Heavy industry, heavy debts: Growing concern over Sany loans
Young adults rely on parents for financial support
Coca-Cola Braces for China Slowdown
China Set to Lose Top U.S. Lender Spot to Japan
China inequality causes unease - Pew survey
Shrinking China Job Needs Show Why GDP Slowdown May Be Tolerated

## UK ##
3500 military staff 'left to join arms firms'
Police crack down on fuel thefts

## US ##
Shortage of skilled factory workers is expected to worsen
Report: Arizona Army National Guard recruiters hunted homeless with paintballs
Citigroup CEO Pandit and president resign in surprising shake-up
Moody's cuts Citigroup outlook to negative
As rail lines come to life, towns and trains collide
The Future of Gold, Oil & the Dollar
Hours Ahead Of The Presidential Debate, Total US Debt Hits Record $16.19 Trillion
U.S. Exporting Record Amounts of Gold Overseas
More Expensive Gas Pushes U.S. Consumer Prices Up
Intel's factory slowdown is another bad sign
Coca-Cola's Results Hurt by Commodity Costs
U.S. Treasury Wants to Sell Non-performing Mortgage Loans

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