Saturday, October 27, 2012


News Links, October 27, 2012

## Global Ponzi meltdown/House of Cards ##
Credit Crunch in Europe; Eurozone Lending Sinking Fast; Money Supply Contracts
Greek debt to badly miss target -euro zone official
Spain unemployment hits record high at 25 percent
Ericsson profits plunge as operators turn cautious
"Swedish wireless equipment maker LM Ericsson on Friday posted a 43 percent plunge in third-quarter net profits as the global financial slowdown caused operators to become more cautious about investing in the group's network infrastructure business."
S. Korea's economic growth hits 3-year low in Q3
Thousands have their cash frozen after collapse of Banksia Financial Group (Australia)
Emerging Stocks Drop to Month Low as Korean Economy Growth Slows
UBS Said to Plan 10,000 Job Cuts as Investment Bank Shrinks

## Airline Death Spiral ##
Plan to cut workforce provokes Friday through Monday strike
Hurricane Sandy wreaks havoc on airline flights

## Fault lines/flashpoints/powder kegs/military/war drums ##
Britain says opposed to strike on Iran "at this moment"
Britain Rejects US Request to Use Bases in Attacking Iran
West African pirates target oil tankers
"As the oil boom in West Africa swells, pirate attacks on tankers in the Gulf of Guinea are 'reaching dangerous proportions,' the International Maritime Bureau reports."
Iran's coal shipping trade booms despite Western heat
Shell seeks Iran sanctions workaround via Cargill grain barter
Iranians Build Up Afghan Clout
"Iran is funding aid projects and expanding intelligence networks across Afghanistan, moving to fill the void to be left by the U.S. withdrawal from Afghanistan by the end of 2014, according to U.S. and Afghan officials."
Egypt seizes Libyan weapons, suspects in further sign of spreading terrorist influence
UN rights expert boycott call angers US, Israel
New cruise missile will fry electronic targets, change warfare
As Jihadists Spread, Connecting The Dots Proves Hard
The al Qaida label has always been convenient for everyone, no matter which side of the fence you are on. As I've always said: How do you know if someone is AQ? You ask them for their official AQ membership card! -- RF
Chinese patrol vessels test 'authority' near Senkakus
Remote U.S. base at core of secret operations

## Global unrest/mob rule/angry people/torches and pitchforks ##
Zanzibar unrest reflects anger along Swahili coast
Tibetan man becomes fourth self-immolation in a week

## Energy/resources ##
Another massive blackout hits Brazil
Power blackout (Fiji)
German distributors face weeks of diesel shortages
"Diesel distributors in Germany say they are facing supply shortages that could last another two weeks because of problems with local refineries and low inventories, in the latest sign the region is heading towards a supply crunch this winter."
Coal stocks in 47 power plants at critical level - CEA (India)
Windmills Overload East Europe's Grid Risking Blackout: Energy
"Germany is dumping electricity on its unwilling neighbors and by wintertime the feud should come to a head. Central and Eastern European countries are moving to disconnect their power lines from Germany's during the windiest days. That's when they get flooded with energy, echoing struggles seen from China to Texas over accommodating the world's 200,000 windmills."
US to Overtake Saudi Arabia? Skewing the Oil Stats
Energy poverty concerns Riyadh
Junk oil: Utah oil sands projects gets green light
Zapping Nuclear Waste With Laser Beams Could Actually Be A Great Idea
We are talking about some serious money and energy consumption. And the world has lots and lots of nuclear waste. I predict this will go virtually nowhere. -- RF
Almost Free Gasoline: Sort of, Maybe
"There's no theoretical reason why the air-to-gasoline process can't work. The problem arises when the process encounters the second law of thermodynamics. That's the one that says for all the energy the goes into a system, whatever energy comes out will have to be less. In this case, the amount of energy that is needed to convert air to gasoline is likely far to exceed the amount of energy available in the produced fuel."
Brazil's Petrobras Posts Surprise Profit Decline on Costs

## Got food? ##
Rising Ocean Temperatures Threaten Ocean Food Chain

## Environment/health ##
Worst Storm in 100 Years Seen for Northeast U.S.
Illegal hunting threatens African wildlife
Marine organisms have role in climate
"Small marine organisms reacting to warmer oceans may dramatically affect the climate by the end of the 21st century, Michigan State University researchers say."
West Nile virus deaths up 19% (US)
"Wild West" timber trade threatens Congo forests: report
First U.S. Oil Sands Mine Proceeds Without Pollution Permit

## Japan ##
Japan quake-hit nuclear plant "may still be leaking radiation" into sea
Ishihara announces new political party
Japan automakers see output, sales drop in China in Sept
Utilities brace for poor bottom lines
Kansai Electric eyes cutting employee salaries for 1st time
10% power saving urged in Hokkaido
Stimulus Package Fails To Excite Economists
Docomo cuts full-year profit forecast
"Japan's biggest mobile phone carrier NTT Docomo on Friday cut its full-year profit forecast and said quarterly net profit was down 13% owing to rising infrastructure costs."
Pressure on BOJ to act mounts as deflation persists
Tour bookings to China from Japan plunge 70%

## China ##
Chinese premier's family has massive wealth: NYT report
China knows that gold is rigged
"It is an open secret among precious metals analysts and traders that the gold and silver markets are being heavily manipulated, mostly to the downside; i.e. their prices are being suppressed by various Western financial entities in what should be a scandal much bigger than the Libor rigging scheme."
Platts report announces China's Oil demand hits record volume in September

## UK ##
Britain is in no rush to tangle with Iran
Winter arrives in October as mercury drops freezing
CBI reveals worsening picture for UK output

## US ##
Analysts: Neither Obama nor Romney will win Arab friends without progress on Israeli-Palestinian peace
Goodyear Tire 3Q net income falls 32 percent
Will The Bottom Fall Out? 15 Signs That Layoffs And Job Losses Are Skyrocketing
Widespread Power Outages Likely as Sandy Slams into East
Why The Real Earnings Picture Is Bad And Getting Worse
President Declares 'War on Entropy' (Satire)

And finally‚Ķ Angry moose trashes police car (Canada)

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