Monday, October 01, 2012


News Links, October 2, 2012

## Global Ponzi meltdown/House of Cards ##
The Coming Collapse Of Consumption In China
WTO Scales Back Trade Growth Estimates
Global IPOs Slump to Second-Lowest Level Since Crisis
India exports decline 9.74% in Aug
Egypt signs $1 billion Turkish loan deal
Meagre job growth ahead (Canada)
Eurozone unemployment at fresh high
UN warns over impact of rapidly ageing populations
Thousands of Emiratis shunning paid employment for social allowances
IPO Drought in Hong Kong Claims Non-Banking Casualty
Iran's rial hits an all-time-low against the US dollar

## Airline Death Spiral ##
EU Seeking New Sanctions in Airplane Trade Dispute
American Airlines will inspect several planes after seats come loose on at least 2 jets
IATA Forecasts Improvement in Airline Profits to $4.1 Billion

## Fault lines/flashpoints/powder kegs/military/war drums ##
At least 13 dead in suicide attack on NATO patrol in Afghanistan
Geopolitics, resources put maritime disputes back on map
Taiwan, China ships spotted again in contiguous zone near Senkakus
Iraq's monthly death toll doubles, bloodiest for two years
Persian Gulf states speed up U.S. missile shield

## Global unrest/mob rule/angry people/torches and pitchforks ##
Rioting mob torches temples in Bangladesh
Euro Leaders Face October of Unrest After September Rally
Over 1,000 Taiwanese in Yilan stage protest over disputed islands
Rare protests taking place in Saudi Arabia
Atlatsa says illegal strike at S.Africa platinum mine
China's Workers are Revolting
In pictures: India new state protests in Andhra Pradesh

## Energy/resources ##
Alarm bells on the longevity of oil wells in Saudi Arabia
European refining industry must radically restructure: PWC
South Africa Decides to go Forward with Hydraulic Fracturing
Thousands of Bombs Dumped in Gulf of Mexico Pose Huge Threat to Oil Rigs
Government considers raising electricity prices for high consumers (Egypt)
"The government is considering raising electricity prices for the highest consumption sectors, Electricity and Energy Minister Saad Mahmoud Balbaa said on Sunday.
"The move comes on the heels of Prime Minister Hesham Qandil's announcement that compulsory electricity rationing may soon be enforced."
Fuel Scarcity will Get Worse – NUPENG (Nigeria)
14-hour power cuts have led to erratic supply of drinking water (India)
India Looks to Fix Power Sector's Liquidity Crunch

## Infrastructure scavenging ##
Thieves Target Manhole Covers In Two Texas Cities
Organized thieves stealing parts from car dealers

## Got food? ##
South Africa at risk of food crisis
UK Families Face Sharp Rise In Food Costs
Food stockpile urged for gov't (Philippines)
Peanut butter recall includes major retailers (US)
Stock up before food prices soar
Wine prices to rise after dry weather in Spain and Italy

## Environment/health ##
Organized crime said destroying forests
"The illegal logging industry threatening the world's forests has become very attractive to criminal organizations in the past decade, a U.N. agency says.
"The United Nations Environment Program said as much as 90 percent of tropical deforestation can be attributed to organized crime, which controls an estimated 30 percent of the global timber trade."
Shark populations plummeting from growing global trade in fins
New drug-resistant Salmonella variant behind an epidemic across sub-Saharan Africa
High-Arctic Summers Are Warmer than Any Time in 1,800 years
China's dams a threat to the Mekong
Great Barrier Reef loses half its coral in 27 years
GMO Technology, Glyphosate Toxicity Leaving Men Sterile
Countries Where Climate Change Kills the Most People

## Intelligence/security/internet ##
White House targeted in cyber attack
Leaked European CleanIT Proposal Would Require The Use Of Real Names And Photos Online

## Systemic breakdown ##
Warning over shortage of engineering graduates
"The UK needs to increase by as much as 50% the number of science, technology, engineering and maths (Stem) graduates it is creating, a report says."
Truckers strike: fuel, cash shortage (South Africa)
Strikes at Walmart Warehouses Expose Threats in Supply Chain (US)
Child's balloon 'knocks out main Greek radar'
"A child's helium balloon has been blamed for a power failure that knocked out Greece's main civil aviation radar and snarled flights for over an hour over the weekend, a report said on Monday."
A good illustration of the surprising fragility of the complex systems we depend upon. -- RF

## Japan ##
Japan Tankan Sentiment Worsens as Global Slowdown Hurts Exports
Sumitomo Sees 'Solar Bubble' as Japan Rejects Nuclear: Energy
Diaper Supply Threatened After Japan Plant Blasts
"Explosions at Nippon Shokubai Co.'s (4114) factory in the western Japanese city of Himeji are set to disrupt the global supply chain for diapers."
New auto sales fall in Sept. as subsidy ends
Fukushima communities still crippled as evacuees choose to stay away

## China ##
China's manufacturing contracts in Sept.
Chinese shipping companies order 50 supertankers
"A GROUP of state-owned Chinese shipping companies have placed a US$4.5 billion order for 50 supertankers, throwing a financial lifeline to China's struggling shipbuilders, a newspaper reported yesterday."

## UK ##
Wind farm operators 'paid millions more than previously thought' by Grid to turn off turbines
"Operators of wind farms were paid £34 million to switch off turbines during gales - millions more than previously thought - it was reported."
British workers 'most depressed in Europe'
Workers face 'shock' in retirement unless start saving now, minister warns
We need drone aircraft, says police chief
Scottish pubs and restaurants 'at risk of going bust'
JJB Sports in administration with 2,200 job losses

## US ##
Virginia, Florida and Pennsylvania Among States To Be Hardest Hit By Sequestration
Obama Administration Tells Contractors Facing Sequestration to Not Warn Employees About Potential Layoffs
Jobs Outlook Seen Weak as U.S. Companies See Need for Cost Cuts
Texans owe $11 billion in child support
Postal Service defaults on $5.6B retiree pre-payment
Banks' record-low interest rates frustrate nation's savers
Bernanke Begs Congress to Address "Fiscal Cliff", Pledges to Hold Interest Rates Near Zero Through Mid-2015 Even If Economy Picks Up
Young and living at home – Record percent of 25 to 34 year olds living with parents.
Social Security Will Run Dry Even Sooner Than the Latest Bad Projection
St. Louis Fed maps 460 bank failures since 2007
Lacy Hunt: "No Increase in Standard of Living Since 1997"
After 'Fiscal Cliff,' 90% of Americans' Taxes Would Rise

And finally… Justin Bieber pukes onstage, blames too much milk

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