Thursday, October 25, 2012


News Links, October 26, 2012

## Global Ponzi meltdown/House of Cards ##
WPP Cuts Sales Growth Forecast as Clients Slash Spending
"WPP Plc (WPP), the largest advertising company, slashed its full-year sales growth target for the second time in two months as clients in North America and Europe cut spending. The stock dropped as much as 5.2 percent."
Ford to Cut 5,700 Jobs With Three European Plant Closings
"Ford Motor Co. (F) will shut three European plants, its first factory closings in the region in a decade, and cut 5,700 jobs to stem losses that the carmaker predicts will total more than $3 billion over two years."
U.S. And China Share Problem Of Rising Income Inequality
Why Did The Bundesbank Secretly Withdraw Two-Thirds Of Its London Gold?
Eurozone debt hits 90 percent of its economy
Amazon Loses Money

## Airline Death Spiral ##
Delta to shed older planes, cut capacity on global routes
Airlines Give Up on World's Longest Flights

## Fault lines/flashpoints/powder kegs/military/war drums ##
Bad News for Africa: 3,000 More U.S. Soldiers are on the Way
"The United States plans to permanently station a U.S. Army brigade on African soil, beginning next year."
France gives Burkina Faso planes to tackle Mali Islamist threat
Algeria accepts last-resort Mali intervention: sources
$12M Bounty Hunt for al-Qaeda in Iran
"We'll take issue here with two key things: First, the US media's purposeful misunderstanding of the Iran-al-Qaeda relationship (fostered most obviously by FOX News of recent Sesame-Street-is-Liberal-Brainwashing fame); second, the US (rather than Iranian) facilitation of jihadist infiltration of the Syrian rebels."
Russia claims Syria rebels have U.S.-made Stinger missiles
US deploys troops to Turkey: General
Three Chinese 'Surveillance' Vessels Enter Japanese Waters Around Senkaku Islands
'Israeli attack' on Sudanese arms factory offers glimpse of secret war
A Year Later, the War in Libya is Far from Over
"The death of the U.S. ambassador in Libya revealed the extent of CIA involvement in Libya."
US General: Too Early to Tell if Iraq Is an Ally
"Complains Iraqis Aren't Appreciative Enough of Occupation"
Afghan Policeman Kills Two US Troops in Insider Attack

## Global unrest/mob rule/angry people/torches and pitchforks ##
Two hurt as Bahrain police clash with protesters
Compal Electronics: Shift, Wages Dispute With Workers Halts Work at Chengdu Plant

## Energy/resources ##
Not a game-changer: Shale Oil: The Latest Insights
Not a game-changer: Chevron Strategist Warns Era of 'Too Cheap' Natural Gas Will End Soon
"Two-dollar gas is really not sustainable when you look at what it takes to go and drill shale gas wells and further develop our industry -- you're not looking at $2 gas forever. It's more likely to be $4 or above that's the message that the market is delivering."
Not a game-changer: Oil Sands Crude Prices Falling Off the Table
"The problem for producers is the cost of extracting and upgrading the tarry oil sands. Existing oil sands projects can make a profit even if WCS drops below $50 a barrel, but new steam-assisted projects need a price of $65 to $70 a barrel just to break even and mining projects need a price of more than $90 a barrel to break even. If the low prices continue, new projects will be delayed until demand forces the prices back up."
Supply Boom Upends the Oil Market (WSJ)
It's not a supply boom, it's a demand collapse. -- RF
The U.S. isn't quite ready to catch up with Saudi Arabia on oil…
Fracking won't make the US into the new KSA. Here's a stake in the heart of that propaganda story. -- RF
Cheap nuclear energy is an illusion
Texas officials may double electricity price cap
Ewura engages TRA to avert fuel shortage
"Worried over by the abrupt shortage of petroleum products, Tanzania now wants to purchase fuel that is destined for neighbouring countries, the sector regulator said yesterday."
Egyptians hunt cheap fuel as Mursi seeks to end shortage
Nigeria: 'Oil-gas sector mismanagement costs billions'
REC Is Merger Candidate as Solar Takeovers Loom, CEO Says
"Renewable Energy Corp. (REC), the Norwegian solar-energy company struggling with falling demand and excess capacity, said it's a merger candidate as the industry gears up for a probable consolidation."
Solar woes to hit Wacker Chemie sales and earnings
"Wacker Chemie, the world's No.2 maker of polysilicon, said its sales and core earnings would fall significantly this year, burdened by the solar industry's ongoing crisis."
An Economic Theory of Limited Oil Supply

## Infrastructure scavenging ##
AT&T offering reward to solve copper thefts from telephone cables in Meridian area
Power lines targeted in £10,000 metal thefts
Thieves plunder manhole covers

## Got food? ##
Tennessee food banks see shortage as stimulus drops off
How to Buy Farmland, Even If You Think You Can't

## Environment/health ##
One more dies, nine more sickened in fungal meningitis outbreak
Meningitis outbreak spreads to 18 states with South Carolina case
Hundreds sicken as dengue fever hits Portugal's Madeira
Worst Storm in 100 Years Seen for Northeast U.S. as Sandy Grows

## Intelligence/security/internet/cyberwar ##
Thieves Hack Barnes & Noble Point-of-Sale Terminals at 63 Stores
Sony PS3 Hacked (again): All Future Games Decryptable, No Solution Possible
Ransomware targeting businesses, Skype users
Army readies offensive cyber attacks
Cyber-Security Chief on Wave of Web Attacks
"The man often credited as being the father of Internet defense says it's still unclear where a recent wave of hacking attacks targeting the U.S. financial industry are coming from."

## Systemic breakdown ##
Auditor General report: Crumbling infrastructure threatens military's ability to deploy
"Canada's military is facing a homegrown threat — its network of armouries, airfields and army bases that are crumbling because of inadequate maintenance, a federal watchdog is warning."
LA County Gets 'C' Grade For Drinking Water, 'C-' For Roadways
"Streets, highways and bridges in Los Angeles County are deteriorating because officials have failed to provide maintenance and replacements for local infrastructure, according to a report released Wednesday."
Oakland County government agencies experience telephone outages
Multi-state phone outage hits area schools and hospitals
"Authorities in Michigan are reporting scattered problems with phone service around our state and other parts of the United States."

## Japan ##
Japan's very own fiscal cliff
1st round of economic stimulus anticipated to be 400 billion yen
JFE Holdings cuts profit outlook to half
"Reuters reported that JFE Holdings Inc, Japan's No 2 steelmaker, has slashed its full year profit forecast in half due to worries that a delay in the recovery of Asia's steel market and slower demand from carmakers will squeeze margins."
Japan winter could be milder than usual, would curb kerosene demand
Canon profit falls 35.6%, well below forecast
"Canon Inc. Thursday reported a 35.6% fall in net profit for its fiscal third quarter, missing expectations by a wide margin as a result of the yen's strength, a falloff in demand in Europe and a slowdown in China and other emerging markets."
Sharp may post bigger-than-expected net loss of 400 bil. yen
Fukushima fish still contaminated from nuclear accident
Russia sent 284 of imported products back to Japan to detect excessive level of radiation, "Doubled from 2011″
NRA simulates N-disasters / High radiation of 4 plants could spread beyond 30 km
Regulator to urge wider nuclear safety zones
23 billion yen wasted in gov't loans to small firms for energy saving projects: auditors

## China ##
China's debt nearing international warning levels: report
China to resume nuclear power construction
Silver Demand In China For Wealth Protection To Climb To Record 7,700 Tons
China's Sep LNG imports jump 20.1% year on year to 1.38 mil mt

## UK ##
Cuts mean drivers face more potholes
"Motorists face increasing numbers of potholes on the road because government funding to maintain the highway has been cut, it has been warned."
Ford to cut 1,400 car jobs in Southampton and Dagenham

## US ##
Homeland Security to recruit from US universities
Mass Firings Soar at Fastest Pace Since 2010; What's the Impact on Unemployment?
AMD Faces Looming Cash Crunch Amid Quest for New Markets
Outsourcing Turns Inside-Out as Indians Open U.S. Centers
Home Prices Push Low-Wage Workers Out of Cities
Get Ready: Everything Is Going to Cost More Next Year
Thirteen American Cities Going Broke

And finally… Mayans demand an end to 2012 doomsday myth

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