Wednesday, October 17, 2012

 

News Links, October 18, 2012

## Global Ponzi meltdown/House of Cards ##
Surprise Thai Rate Cut Shows Worsening Outlook: Southeast Asia
Germany chops 2013 growth forecast on euro crisis
Cyprus Expects Swift Bailout as S&P Cuts Deeper to Junk
War lines drawn between domestic and foreign mills in Middle East
Japan-China island spat hurts both as aluminum demand slows
New police projects but no new money (NZ)
EU Commission Forces Crisis-hit Countries to Privatise Water
The hidden price of public-private partnerships (Canada)
Economic edifice to collapse without industrial growth (Pakistan)
China Q3 GDP Growth Set for Fresh Slide Below Target
"China's economy likely slowed for a seventh straight quarter in July-September, missing the government's target for the first time since the depths of the global financial crisis, and data on Thursday could signal still worse to come."
Derivative Meltdown and Dollar Collapse
Currency Wars: U.S. Attack
"Doubling down on QE3, the Federal Reserve (Fed) Chairman Bernanke tells China and Brazil: allow your currencies to appreciate. One does not need to be a rocket scientist to conclude that Bernanke wants the U.S. dollar to fall."

## Airline Death Spiral ##
Aviation provides big lift for UAE economy
"The aviation industry contributes more than Dh145 billion ($39.47bn) to the UAE economy, or 14.7 per cent of GDP, justifying the country's huge investment in airports and airline networks, the International Air Transport Association (Iata) said yesterday."
AMR Seeks Extension Of Bankruptcy Plan Period
American Airlines posts bankruptcy-related loss
Fly cheap: Russia mulls inviting foreign low costs to domestic market
Iran Airlines May Raise Prices by 50% as Costs Soar, Mehr Says
India Plans End of Some Airport Fees to Lower Cost of Traveling

## Fault lines/flashpoints/powder kegs/military/war drums ##
Chinese Fisherman Dies After South Korean Coast Guard Raid
"A Chinese fisherman died from injuries sustained in a South Korean coast guard raid after his vessel entered South Korean waters in the Yellow Sea, adding to heightened tensions sparked by maritime disputes in the region."
China spurs Asia defense spending
Russia criticizes EU Iran sanctions, urges talks
Iran further expanding enrichment capacity: diplomats
US Aircraft Carrier John Stennis Arrives By Iran
U.S., Israel Prepare for Major Joint Military Drill
Venezuela serious about producing drones
South Korea - Most Dangerous Nuclear Center on the Planet
Kenyan policemen injured in Coast province grenade attack
UAE condemns Israel at UN Security Council over treatment of Palestinians
Who Will Get "Whacked" Next in Africa?
"The Obama administration's Africa policy 'has become a rotten fusion of the worst instincts within neoliberalism and neoconservatism.' Its common denominators are 'petro-military complex profits, an ever-expanding 'War on Terror' and an anti-Chinese political block.'"
Nigeria pirates kidnap 6 Russians, one Estonian
Turkey says fires back after shell from Syria lands in Hatay
U.S. Plans To Help Libya Build Commando Force

## Global unrest/mob rule/angry people/torches and pitchforks ##
Social justice protest planned for Friday in Egypt
Spanish unions mulling general strike against austerity
Mexico raids seized campuses, battle protesters
2-day protest against new austerity cuts in Greece
Chinese residents take to streets after man reported killed
Indigenous Groups Protest Mexico's Biggest Wind-Energy Project
Walmart Strikes: More Workers Join Fight In Oklahoma, Claim Intimidation

## Energy/resources ##
Why are we not Drowning in Algae Biofuel?
Baghdad is Losing Iraqi Kurdistan - Empowered by Oil and Gas
Fuel shortages at Scottish airport a warning for winter
"Edinburgh airport said jet fuel supplies were being rationed on Tuesday because of a glitch discovered last week at a Scottish refinery owned by Ineos INEOSG.UL, a further sign Europe could be heading towards a supply crunch this winter."
Northern blackout leaves hundreds of thousands fuming (Lebanon)
"Extensive power cuts hit cities across the north Monday night, leaving hundreds of thousands of people in the dark after an equipment malfunction at a major transformer brought the electrical grid to its knees."
Big Wind's Recurring Nightmare
Overcapacity to edge out 180 solar panel makers by 2015: report
SunPower to idle PHL production lines, cut 900 jobs
"SunPower Corp. said it will idle some solar cell production lines in the Philippines and cut about 900 jobs, or 17 percent of its global workforce, as overcapacity continues to cast a shadow on solar equipment makers."
These days the renewable energy industry seems to be crashing as fast as the airline industry. -- RF
Maliki mulls ditching Exxon for Russians
Why Natural Gas Isn't Likely to be the World's Energy Savior

## Infrastructure scavenging ##
Metal thieves target Chehalis River flood warning station
Metal thieves cost Salina business more than $37K in losses, damage
Anger as Birches Head memorial benches are wrecked by thieves
California farmers facing calamity of copper theft

## Got food? ##
World Food Day: Rising food prices hit Greece
Pakistan's food shortage alarms rights organizations
Northern Ireland food price warning
Health Ministry promotes liberalizing food import rules to lower prices (Israel)

## Environment/health ##
19 more meningitis cases linked to steroid injections
Is the stress of city living making us mentally ill? Special
"Studies have shown that people living in large cities have more mental disorders than those living in rural areas and that the cause is stress. This is a serious matter when more than half of the people in the world live in large cities."
Over Half of All Wetlands on Earth 'Destroyed' in Last 100 Years
Madagascar palm trees at risk of extinction, study finds
North America Has Biggest Rise in Weather Catastrophes

## Intelligence/security/internet/cyberwar ##
Texas police buy high-flying, high-tech spy plane
Feds Arrest Man Plotting Attack On New York Fed

## Systemic breakdown ##
Amazon EC2 outage rattles users again
Seattle voters face hefty bill for crumbling seawall
We Can't Afford to Wait to Fix Our Water Problem
High Cost of Wars Affects America's Infrastructure
NCP blamed for failing infrastructure

## Japan ##
Machine Tool Orders Down 5.4% In 1st Half
Japan's summer of crazy weather
PM makes vague call to ministers for economic stimulus measures
Utilities hold onto plans to build reactors
25.9% of businesses profitable in FY11
Online gaming addictions growing more serious
Japan Inc. nears record year of overseas M&As
Red Cross labels Fukushima evacuations humanitarian crisis

## China ##
Call It Chimerica: The U.S. and China Grow Ever Closer
Few Chinese companies pay out required overtime compensation
PetroChina starts third west-to-east gas pipeline
China Economic Watch: Power Usage Rises 4.8% Jan-Sep; ¬•10t Local Stimuli Unveiled Since June
China Power Use Growth Sluggish
China issues nuclear safety blueprint, eyes $13 billion investment

## UK ##
Paul Tucker: 'worst may still be ahead' for UK banks
UK unemployment falls to 2.53 million
One in four 'will retire at 70 by 2028'
Britain expresses 'deep concern' over euro zone banking union
66 people chase every retail job
UK's widening gap with EU

## US ##
The US Northeast Heading Towards a Heating Oil Crisis
Green Party candidate arrested outside debate site
Oh! Amerika is grreeaat democracy! -- RF
U.S. income gap may slow jobs growth
Student loan mimics subprime mortgage industry
Sales stumbles raise fresh worry for corporate America
USPS says running out of cash
Corn States Lead Record Crop-Loss Payout: BGOV Barometer
Fact Check: Debate Filled With Half-Truths, Distortions, Outright Lies
Why Apple will never bring manufacturing jobs back to the U.S.
IBM showing signs of running low on gas
Apartment Bubble Inflating Fast
Could Bakken Oil Boom Go Bust After Election?

And finally‚Ķ Hssssss! Where Wall Street Vampires Get Their Fangs




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