Thursday, October 25, 2012


News Links, October 25, 2012

## Global Ponzi meltdown/House of Cards ##
Eurozone business slump accelerates: Markit
"Eurozone private sector business activity slumped deeper into the mire in October, falling at its fastest rate since June 2009 to 40-month lows, a closely watched survey showed Wednesday."
Spain's Bad Bank Seen as Too Big to Work: Mortgages
Ford to cut 4,300 jobs in Belgium
UBS set to begin 400 job cuts as early as Wednesday-WSJ
Cut, cut, cut. -- RF
China Taking Asia Further From Dollar, Even Further From Euro
"China has already muscled in on Japanese trade, and it is now muscling in on the U.S. dollar."
Singapore Yuan IPO Is Canceled
"A Singaporean real-estate investment trust backed by Hong Kong billionaire Li Ka-shing withdrew its yuan-denominated initial public offering owing to a weak market. The deal would have been the city-state's first flotation sold in the Chinese currency."
Eurozone Downturn Deepens, PMI at 40-Month Low; Manufacturing Weakness in Germany; Considerable Service and Manufacturing Contraction in France
Spanish economy shrinks again
France's Quiet Bank Rescues Top EU60 Billion With Peugeot Aid
The Germans Are Coming for Their Gold
Boomers clogging the career pipeline (Canada)
"Many impecunious boomers are working longer and these so-called 'hidden pensioners' may block career opportunities for younger generations, says a survey by actuarial consulting firm Towers Watson."
Spain's Robin Hood

## Airline Death Spiral ##
Indian airlines bled $550 mn in Q2: Capa
Aviation Fuel Tanker drivers embark on sit-down strike
Singapore Airlines Ending World's Longest Flight
Airlines Lift Profits on Stronger Fares
"Despite jet fuel prices holding at a higher level in the third quarter, two airlines reported strong earnings and reiterated their plans to limit the number of seats they plan to put in the air."

## Fault lines/flashpoints/powder kegs/military/war drums ##
Europe must help Mali against Islamist rebels: Germany
Mali war plan to be ready within weeks: AU
"An African plan for military intervention in Mali to help government troops reclaim territory from Islamist militants will be ready within weeks, the head of the African Union (AU) said on Wednesday."
Western powers call for political stability in Lebanon
Report: Japan, China discuss island dispute
"Japanese and Chinese diplomats held secret talks in Shanghai on their dispute over a group of East China Sea islands, sources told Kyodo News Wednesday."
Naval suppliers eye South America markets
"International suppliers for the world's naval fleets have set sights on Central and South America and the Caribbean as the next growth area for naval procurement and refurbishment contracts."
China tells U.S. it will not compromise with Japan over Senkakus
Chinese vessels seen sailing near Senkakus for 5th day
Plan for hunting terrorists signals U.S. intends to keep adding names to kill lists

## Global unrest/mob rule/angry people/torches and pitchforks ##
More Than 700 Kurdish Prisoners Now On Hunger Strike In Turkey
Panama land sale clashes in Colon turn deadly
Myanmar sets night curfew after unrest

## Energy/resources ##
Egypt aims to end late-night shopping to save energy
Nightmare on Electric Vehicle Street
State weighs blackout risk and electricity prices (Texas)
Oil Sands Crude Crashes Through $60 a Barrel
Oil Could Challenge $80/Barrel Again
"We would normally be excited that oil prices are sliding. The problem is that oil prices are sliding due to demand issues rather than supply issues. This is nothing more than a continued concern about the global economy."
Cool Planet Plans to Turn Cobs Into Gas at $1.50 a Gallon
"Cool Planet Energy Systems, a biofuels maker backed by Google Inc. (GOOG), General Electric Co. (GE) and BP Plc (BP/), plans to build 30 manufacturing plants within three years to make gasoline, according to Chief Executive Officer Howard Janzen."
I hope they are including the costs of gathering and transporting the biomass. -- RF
China rare-earth plant halts production to boost prices

## Got food? ##
Steer clear of GM crops Greenpeace and US farmers warn EU
A Wind And Solar Powered Corncrib

## Environment/health ##
Major solar flare erupts from the sun
"The sun has emitted a powerful solar flare into space, releasing waves of radiation that caused a short radio blackout on Earth."
5 Reasons to End Our War on Germs Before it Kills Us All

## Intelligence/security/internet/cyberwar ##
Mideast cyber war endangers gulf energy
"The energy industry in the Persian Gulf, which supplies more than one-third of the world's oil supplies and much of its natural gas, is finding itself vulnerable to cyberattack, a form of warfare the United States, Israel and Iran are increasingly using."
Auditor General report: Canada's online security centre not operating 24 hours daily

## Japan ##
Record high 2.12 million Japanese nationals living on welfare
Mounting Japan Trade Deficits Raise Urgency of TPP, Japan-China-Korea, and Asean+6 Trade Talks
Fukushima situation stable but still precarious, regulator says
People forced to store contaminated soil on their own property in Fukushima
2012 Fukushima rice exceeds cesium limit
Forecast predicts wider evacuations needed if nuclear disaster repeated
As China tensions simmer, Japan pulls back from 'world's factory'
"Almost a quarter of Japanese manufacturers are rethinking their investment plans in China and some may shift future production elsewhere after the spike in tensions between Asia's two largest economies."
Row looms over China trade / Strained ties seen prolonging trade deficit into later half of 2013
Sharp's plight hitting partners nationwide
"Struggling Sharp Corp.'s restructuring efforts are dealing blows to its thousands of business partners across Japan, with some forced to lay off workers after seeing orders drop."

## China ##
J.P. Morgan Gets Stung by China Downturn
"A luxury apartment building that is one of the most visible casualties of China's high-end property bust is up for auction in the northeast city of Dalian, after a bank foreclosed on the property."
CNPC building its own oil tanker fleet

## UK ##
Lord Bichard: Retired people could work for pensions
"Retired people should be encouraged to do community work such as caring for the "very old" or face losing some of their pension, a peer has suggested."
Argos to shut or relocate 75 stores, Home Retail Group says

## US ##
The 46 Million Foodstamp Man March - An Infographic
United Parcel Service reports 56% drop in third-quarter profit
Vroom! Nation's fastest road to open in Texas
Gritters at the ready for Arctic blast of winter at half-term
"Road gritting teams were on standby tonight with Arctic winds expected to bring wintery conditions to large areas of the country this weekend."
Army to Assign Reserve Units to NORTHCOM, Other Regional Commands
U.S. Colleges Raise Tuition 4.8%, Outpacing Inflation
More Americans Walk Away from Their Mortgages
North Carolina, America's Most-Gutted State
U.S. Sues Bank of America for $1 Billion for Mortgage Fraud

And finally… Mitt Romney — Iran's way to the sea is Syria. On what planet?

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