Friday, November 09, 2012

 

News Links, November 10, 2012

## Global Ponzi meltdown/House of Cards ##
European Stocks Decline as Credit Agricole Slides
"European (SXXP) stocks retreated, with the Stoxx Europe 600 Index heading for its biggest weekly decline since September, as the Bank of France said that the euro area's second-largest economy may contract in the fourth quarter. U.S. index futures were little changed, while Asian shares slid."
French Recession Looms as Industrial Production Slumps
Sweden Industrial Output Plunges as European Demand Falters
German exports fall as euro zone demand shrivels
Trade pinched as global slowdown deepens
Frankfurt Turns Offices to Homes as Vacancies Rise
Used car prices set to rise, report says (Canada)
Shifting riches portending a Depression?
Iraq needs $1 trillion to rebuild: investment head
To Combat Sanctions, Iran Buys Up Gold
China Loading Up On Gold As Hedge Against U.S. Treasuries
Exclusive: Bank Of England To The Fed: "No Indication Should, Of Course, Be Given To The Bundesbank..."
Economic Zealots Endanger Global Economy; IMF Hypocrites Urge Permanent US Can Kicking, Fiscal Stimulus, and Enormous Deficits

## Airline Death Spiral ##
Qantas to cut 263 Avalon engineers
Iberia to cut 4,500 jobs under IAG restructuring plan
Cut, cut, cut. -- RF
Air traffic delays 'near crisis levels' in Middle East
Estonian Air is aiming to survive by rapidly downsizing its operations
Kenya Airways posts 1H loss
Airlines struggle with energy turbulence
Indian Billionaire Mallya Needs $1 Bln Fast To Save Kingfisher Airlines
The Biggest Airline Bankruptcies

## Fault lines/flashpoints/powder kegs/military/war drums ##
Obama to visit Myanmar this month
The US is pulling out all the stops to get Myanmar into its camp and lead it away from China. -- RF
Iran confirms it fired on US drone in Gulf
Nigeria is "at war" with Boko Haram: Nobel laureate Wole Soyinka
Rare Photographs Show Ground Zero of the Drone War

## Global unrest/mob rule/angry people/torches and pitchforks ##
Argentines march in mass protest at government policies
Tibetans greet China's leaders with protest
Bahrain police fire tear gas to disperse Shi'ites: witnesses
Strikes reveal frustrations with unions
"Industrial unrest has put intense focus on mining companies and an industry that was built on the back of cheap, black migrant labour since Cecil Rhodes founded De Beers in the late 1880s – but unions have also endured the wrath of workers."

## Energy/resources ##
Must read: US Shale Gas Won't Last Ten Years: Bill Powers
Ethanol Mandate About to Burn Out? (US)
"Falling U.S. demand for gasoline has combined with high corn prices to force the closure of several U.S. ethanol plants. Ethanol makers are actually losing money on every gallon of the fuel they make this year, but they can't stop making the stuff because the Renewable Fuel Standards enacted during the George W. Bush administration mandates production of 13.2 million gallons of ethanol to mix with gasoline this year."
South Korea finds cracks in control rod tunnels at nuclear plant
Abu Dhabi targets big increase in oil recovery
"Abu Dhabi wants to exploit its oil reservoirs to levels far beyond current recovery rates, an ambition that analysts say would give experienced western oil companies an edge over Asian newcomers in the run-up to concession renewals."
Mindanao outages persist (Philippines)
Fear of power shortage  (SKorea)
"Monday's abrupt shutdown of two nuclear reactors in Yeonggwang, South Jeolla Province, is ringing alarm bells across a nation that struggles annually with power shortages."
Russia tightens bearhug on oil and gas
Peak Oil Postponed? – Global Challenge Seminar in Stockholm, Sweden

## Infrastructure scavenging ##
Quebec copper wire thieves leave dark road behind
Rail thieves steal or damage half a mile of new power cables

## Got food? ##
Corn Top Commodity Pick at Morgan Stanley as Supply Plunges
"Corn may beat all other commodities in the first half of next year, surging as much as 34 percent to a record as shrinking supply from the U.S. stokes competition among meat and ethanol producers, according to Morgan Stanley."
Canada's Corn Belt Attracts the Hot Money
Food Crisis Dampens Reforms (NKorea)
Sky-High Vegetables: Vertical Farming Sprouts In Singapore
I see a lot of fossil fuels at work here, directly and indirectly. -- RF

## Environment/health ##
People CAN Smell Emotions
Stakes Rise In Malaria Battle As Cracks Appear In Drug's Armor
New study shows Great Barrier Reef collapse
Millions of GMO Mosquitoes Released Without Risk Assessment or Oversight

## Intelligence/security/internet/cyberwar ##
Australia scraps plan to filter Internet
"Australia on Friday scrapped a controversial plan to filter the Internet, saying it will instead block hundreds of websites identified by Interpol as among the worst child abuse sites."
SEC left computers vulnerable to cyber attacks - sources
Google says multiple services blocked in China
China using massive surveillance grid to stop Tibetan self-immolation
Be alert for ID theft as hacking cases pile up

## Systemic breakdown ##
New York scrambles to make up for shuttered hospitals
"Long after power is restored from Sandy, the effect of another more-precarious outage is still taking shape: Some of the largest hospitals in lower Manhattan remain shuttered. Other hospitals are scrambling to fill the gap, and concern is rising that the patchwork system can't last for long."
NYC, Long Island begin gasoline rationing
Sewage Backups, Water Leaks Threaten Municipal Budgets
Rats infesting New West school, parents claims (Canada)
Disaster shelter doesn't protect from bitter cold
Our civilization depends on electricity ... and the repair crews who keep it flowing
Gas Rationing: New Yorkers, Welcome to the Third World

## Japan ##
Nippon Steel & Sumitomo Metal reports H1 net loss
"Nippon Steel & Sumitomo Metal Corp. , the product of a mega-merger between two of Japan's largest steel makers, Friday reported dismal performances by the former entities for the first half ended September, weighed down by massive write-offs of their production facilities."
No Japan electronics bailout, minister hints
"A senior Japanese politician hinted on Friday that a government bailout was not on the cards for the nation's struggling electronics giants, after embattled Sharp cast doubt on its own survival."
Japan Shops for Alternative LNG Sources amid Burgeoning Demand
Sony hit with second Moody's downgrade in a month
Japan Govt Debt Up To Record Y983tln In Sept
"Japan's government debt stood at a record-high 983.30 trillion yen ($12.4 trillion) at the end of September due largely to spending on reconstruction following the March 2011 earthquake and tsunami, Finance Ministry data showed Friday."
Japanese car sales in China plunge 59.4% in October
Radioactive sludge remains undisposed in Fukushima
"Japanese broadcasting company NHK revealed that as much as 130,000 tons of ash and sludge remain stored in Fukushima and four other surrounding prefectures."
Gov't draws flak for underreporting radiation readings in Fukushima
Corporate bankruptcies increase 6% in October
Core machinery orders down 4.3% in Sept.

## China ##
China imposes tariffs on EU and Japanese steel
Scarcity of Water and Land Shifts Geography of Food Production and Irrigation Networks to China's Northeast
Do We Have What It Takes To Get From Here To There? Part 2: China

## UK ##
Space spending to be increased by £60m a year
"Overall spending in civil research spending has, however, declined by 5% in real terms since 2010 - a reduction which is set to continue."
UK Energy Infrastructure Needs £330 Billion Upgrade by 2030
"A new report by the London School of Economics (LSE), titled 'Energy and the Economy: The 2030 Outlook for UK Businesses' has estimated that £330 billion is needed to be invested into the UK's ageing energy infrastructure before 2030 in order to avoid nationwide blackouts, and still meet the climate targets."

## US ##
East Coast Nuclear Power Plants Dodge Hurricane Devastation - For Now
Sandy put big dent in used car inventory
"A U.S. auto dealers' trade group said Hurricane Sandy destroyed at least 250,000 used cars and used car prices will rise as a result."
J.C. Penney Posts Wider-Than-Estimated Loss
San Juan County, Washington, USA now GMO-free
Jim Rogers: Money Printing Will Run Amok
Civil engineers say Texas' infrastructure needs maintenance, money
David Petraeus resigns as CIA director after admitting affair
Thousands of banks may disappear
Exec says U.S. north needs more oil lines
Officials Want Military to Take Over Power Restoration on Long Island
Billions on Flood Barriers Now Might Save New York City
Current drop echoes 1987 crash prelude
"The Dow Jones Industrials have fallen 450 points over the past two days, and a lot of the blame has been placed on the re-election of the president. But anyone paying attention to the market over the past three months recognizes that the peak was actually made the week that the Federal Reserve announced a third round of quantitative easing. That was expected to be a positive event, but in retrospect, it ushered in a rolling thunder of value-eroding news events."
Economy Stinks for Many, But It's Crushing Millennials

And finally… 'World's first toilet theme park' opens in South Korea




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