Tuesday, October 23, 2012


News Links, October 22. 2012

## Global Ponzi meltdown/House of Cards ##
Australia to Announce Cuts at Budget Review Tomorrow, Swan Says
"The Australian government will announce "significant" cuts at a budget update tomorrow as it remains committed to restoring a surplus, according to Treasurer Wayne Swan."
All banks of euro area to be subject to single control mechanism since 2014
Compromise to Nowhere; Germany Mulls Greek Debt Buyback; More Haircuts Coming?
Spanish Regional Bailout Fund Runs Out Of Money Just As Regional Elections Begin
Commerzbank Plan May Spur €1 Billion in Cost Cuts
BHPB CEO Mr Kloppers sees trouble for next 10 years
"Mr Kloppers said the massive price leaps in the early 2000s brought with it a perception that not only was it a 'boom for everyone' but that many ignored how costly it was to mine some areas because the demand was so strong."

## Airline Death Spiral ##
Kingfisher crash may push airfares up by 10% (India)
Kansai airport to nearly double proportion of budget carrier flights (Japan)
Major US Airlines Projected to Report Record Revenue for 3rd Quarter
"For full year 2012, we project these seven airlines will collectively report $4.2 billion in profits from a record $140 billion in revenues — a paltry 3% profit margin –. For the first time since the 1990's, the industry will have annual profits three years in a row."

## Fault lines/flashpoints/powder kegs/military/war drums ##
United States, Iran agree to one-on-one nuclear talks : New York Times
US denies Iran nuclear talks New York Times report
Netanyahu says doesn't know of any U.S.-Iran talks
Senator Portman Opposes Direct Nuclear Talks With Iran
Russian forces kill 49 militants in operation: state agency

## Global unrest/mob rule/angry people/torches and pitchforks ##
Violent protest sparks over coal plant; 10,000 civilians take part (China)
Protesters break into grounds of Libya's parliament
Police fire teargas at opposition protesters in Kuwait

## Energy/resources ##
Police announce poster campaign raising awareness of gas theft (Canada)
Analyst warns of gas shortage for Cook Inlet (US)
Global Water Crisis, U.S. Eyes Canada's Great Lakes
Keystone Pipeline Closes on "Safety Issues"
BP, Rosneft Set for Oil Deal Worth More Than $25 Billion

## Got food? ##
Scallop wars: an uneasy ceasefire as fishermen await the next salvo
Year-Round Gardening

## Environment/health ##
How do you move 100,000 people off a disappearing island?
Ghost factories: Poison in the ground
Spanish earthquake in Lorca 'triggered by groundwater extraction'

## Intelligence/security/internet/cyberwar ##
VA Computers Remain Unencrypted, Years After Breach

## Systemic breakdown ##
As drug making goes global, oversight found lacking
More than 250 drugs remain in short supply (Canada)
Hospitals Worry Meningitis Fallout May Worsen Drug Shortages (US)

## Japan ##
Japan Needs More Monetary Easing, Policy Stimulus, Maehara Says
Record 49% of Japanese companies are letting seniors work beyond 65
Sharp to sell off U.S. solar subsidiary
10 million unit target hard: Toyota
Japan, IAEA working on Fukushima decontamination and disposal base
Okinawa police request help from other prefs. for Senkakus patrol

## China ##
Sinopec's storage acquisition in Europe increases global reach
In Historic First China Begins Oil Extraction In Afghanistan

## UK ##
Six million households cut back on essentials
SNP conference 2012: Sturgeon says spend to end slump

## US ##
More people buying food from dollar stores
The Investor Class Is Scared Out of Its Wits
Drumbeat of Weaker Revenues
Electric Cars: The Tipping Point for the Smart Grid
"But let's not leave all the anxiety to electric car owners. The rest of us need to start worrying about what will happen if enough people buy these things and try to charge them at the same time: The blackouts will start rolling faster than a Tesla at the race track."
False prosperity through debt – 4 out of 10 Americans have less than $500. The dangers of building a consumption based nation.

And finally… 'Unsexy' Ikea bedrooms are killing our love lives?!

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