Saturday, October 20, 2012


News Links, October 20, 2012

## Global Ponzi meltdown/House of Cards ##
Alcatel-Lucent to cut 5,490 jobs worldwide
Over half of crisis-hit Italians recycle food leftovers: report
"Italy's passion for eating is world famous but more than half of Italians are now recycling food leftovers to prepare new meals as they try to save money and weather a year-long recession, a survey showed on Friday."
World's Richest Gain $12.7 Billion as Google Shares Drop
Google Insiders Bail Prior to Stock Plunge
Investors 'flipping' Dubai properties a worrying sign, brokers warn
'Surge' in top incomes demands a response (Canada)
McDonald's Earnings Undershoot, No Big Emerging-Markets Boost
Hidden European Fashion Billionaires Undressed on China
Bill Gross Warns "Very Likely' Central Banks Will Cause 1987-Like Crash

## Airline Death Spiral ##
Airlines shrink seats, offer extra legroom for a fee
As airlines raise fees instead of fares, taxpayers pick up the tab

## Fault lines/flashpoints/powder kegs/military/war drums ##
Russia warns NATO over missile plans
White House urged to boost CIA drone fleet
Could Social Upheaval in Iran Spark an Oil Bull Market?
Myanmar to be invited to major U.S.-Thai military exercise
U.S. Brass Visit Myanmar, Stepping Toward New Role
The US is moving fast in a bid to bring Myanmar into the US orbit and distance it from China. -- RF
EU leaders call Mali crisis a threat to Europe
"EU leaders said on Friday the crisis in Mali, where Islamists have seized control of much of the north of the country, was an "immediate threat" to Europe, and threatened to impose sanctions on the armed militia there."
China practices stopping "illegal entry" near disputed seas
Blast halts Iran gas flow to Turkey, 28 troops hurt
"Saboteurs bombed a gas pipeline in eastern Turkey, halting the flow of Iranian gas and causing minor injuries to 28 soldiers, Turkish officials said on Friday."
Egypt pushes Ethiopia to scrap Nile dam
Thieves breach security at Israeli base
"Several masked thieves were able to enter an Israeli military base, overpower a guard, and steal several weapons, officials said."
CIA seeks to expand drone fleet and paramilitary force
"The CIA is urging the White House to approve a significant expansion of the agency's fleet of armed drones, a move that would extend the spy service's decade-long transformation into a paramilitary force, U.S. officials said.
"The proposal by CIA Director David H. Petraeus would bolster the agency's ability to sustain its campaigns of lethal strikes in Pakistan and Yemen and enable it, if directed, to shift aircraft to emerging al-Qaeda threats in North Africa or other trouble spots, officials said."
Spanish Military Association Wants "Declaration of War" Against Separatist Catalunya; Expect More Extremism
Beirut bomb kills anti-Syrian intelligence official
The General Who Planned The Afghanistan Surge Is Heading To Africa

## Global unrest/mob rule/angry people/torches and pitchforks ##
Clashes erupt at Greek anti-austerity protests
Muslim protesters fight police in Tanzania
Thousands expected at anti-austerity protest in London
Saudi protesters say no links with Iran

## Energy/resources ##
Goldman Sachs: Crude Price Needs to Rise to Support New Drilling
"In a research note to customers, long-time oil bull Goldman Sachs now says that Brent crude prices will tumble to $105 a barrel by the end of next year and could be as low as $85 a barrel by 2016. That sounds like the answer to a consumer's prayer.
"The bad news is that at those prices, oil companies lose huge amounts of money on every barrel they produce. According to Goldman, producers need a price of around $115 a barrel right now to break even."
Exxon seeks to quit flagship Iraq oil project
"Exxon Mobil wants to leave its giant oilfield project in southern Iraq, diplomatic sources said, in a move likely to aggravate the country's internal tensions and hamper Baghdad's ambitious energy expansion plans."
British engineers produce amazing 'petrol from air' technology
Come on, people! You don't get something for nothing. What's the net energy of the process? Unless it has a substantial energy return, say 20-to-1, you can forget about it being a "game-changer." -- RF
JA Solar faces possible delisting from Nasdaq
Hofmeister: A Difficult Decade Ahead For Oil Prices and Supplies
Saudi Arabia to Invest $35 Billion in Oil Projects

## Got food? ##
Iowa Farms Minting Millionaires as Rich-Poor Gap Widens
Another Food Crisis Is Likely to Spur Revolution in the Developing World

## Environment/health ##
Global drought a 'new normal': report
Three Ugandans die in Marburg virus outbreak
Death Toll Reaches 21 in U.S. Meningitis Outbreak

## Intelligence/security/internet/cyberwar ##
Ally Financial latest US bank to face cyber attacks
Twitter Blocks 'Offensive' Accounts In Germany, U.K.; Deletes Tweets In France
New app uses scattered public information to put together a digital footprint of individuals, organizations

## Japan ##
Fallout From Sino-Japan Political Tension Could Hurt Japanese Auto Sales In China For Years
Japan Goes Shopping—and Not Just for Sprint
Japan to hold extra parliament session from Oct 29 to tackle deficit
"Japan's ruling party convened an extra session of parliament from October 29 to try to pass a bill needed to cover nearly half the budget spending, setting the stage for another showdown with the opposition seeking early elections."
Nearly 50% of firms let elderly people work beyond age 65
Package tour bookings to China, S. Korea for Oct.-Dec. down by half
China economic slowdown bad news for smaller Japan businesses
Sony to cut 2,000 jobs before next year, close lens factory in restructuring
Banks Stand To Lose Y8.3tln From 1% Interest Rate Rise: BOJ

## China ##
China's FDI inflow continues to drop in September
China 2013 Growth May Slow to 23-Year Low, Honeywell Says

## UK ##
87% of people will ration energy use this winter

## US ##
As others skimp, rich splurge on holiday gifts
"Wealthiest 10% will spend more than the remaining 90% of U.S. population"
First time jobless claims jump by 46,000
Microsoft's profits fall as PC sales stumble
Average student debt hits $26,600 while job outlook still bleak for college grads
Your move, creep: Researchers building RoboCop policeman
Wealthy Advised to Sell for Gains Before Unfriendly 2013
Muni Bankruptcies Foreshadow 'Disturbing' Trend, Schotz Says
California Seeks Muni Bankruptcy Warnings, Lockyer Says
A 1987 crash today would take 3,000 points off Dow
Keystone Pipeline Closes on "Safety Issues"
Why 'Fiscal Cliff' May Be Bigger Threat Than You Think

And finally… Grandmother, 82, attacks armed bank robber

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