Wednesday, November 14, 2012


News Links, November 13, 2012

## Global Ponzi meltdown/House of Cards ##
India's Industrial Output Drops Unexpectedly
Greek Parliament OKs Austerity Budget
Greece bailout extension 'to cost 32bn euros more'
Russia's RUSAL reports USD118m loss in Q3
India and Japan — New Global GDP Drag
Is the rand about to crash?
Wave of Evictions Leads to Homeless Crisis in Spain
Forget Mayans: Be Afraid of US Budget Armageddon 

## Airline Death Spiral ##
Huge Airline Pilot Shortage Looms
I've repeatedly pointed out the growing shortage of skilled workers and engineers, but skills of all kinds are disappearing all over the world. And those skills are one of the supports of industrial civilization. -- RF
SAS cuts 800 jobs in 'final call' savings plan
"Scandinavian airline SAS said Monday it will lower pensions and salaries and slash 800 jobs in an effort to cut costs by 3 billion kronor ($440 million) annually in what the CEO described as a "final call" for the loss-making carrier."
Airline warns jobs at risk after profit slump
"AIRLINE Flybe, which operates from Doncaster's Robin Hood airport, has warned jobs may be at risk as it slashes costs after challenging conditions sent it into the red."
SWISS airline to cut administrative jobs in Switzerland
Cathay Pacific Sees Little Christmas Cheer in Cargo Shipments
Study forecasts turbulent years ahead for airline services
United returns $5.6 million to Chicago

## Fault lines/flashpoints/powder kegs/military/war drums ##
Iran launches air drills in country's east
Former Israeli Army Chief: Only Nuking Iran Can Halt Uranium Enrichment
Corruption Threatens to Bring Down China and Russia
Defense spending needed to maintain NATO
Gaza strikes intensify, frightening Israelis
Gaza militants signal truce with Israel after rockets
At least 32 Kenya police dead in cattle raid ambush
"Armed cattle raiders killed at least 32 Kenyan police officers in a military-style ambush, officials said on Monday, calling it the worst attack on police in Kenya's history."
Saudi tells U.N. Iran trespassing on its territory: report
Syrian Opposition Hypes 'Unity Agreement,' But Many Groups Not Represented

## Global unrest/mob rule/angry people/torches and pitchforks ##
Long Island residents protest power outages
Revolt over low wages (South Africa)
South African police clash with Xstrata strikers
Big anti-nuclear protest held near Diet building in Tokyo
Argentines prepare for huge anti-government march

## Energy/resources ##
By 2020, United States Will Become World's Leading Oil Producer, Says IEA
Before you get excited, recall this item from a short time ago. -- RF
Massive LNG Projects Get More Expensive
IEA cuts global forecast for growth in nuclear capacity
Does the IMF believe we have a peak oil problem?
UN chief says discovery of vast mineral deposits in Afghanistan should be managed properly
However, Afghanistan almost totally lacks the infrastructure needed to exploit those deposits. It's highly doubtful that mineral development will ever proceed on the grand scale envisioned. -- RF

## Got food? ##
Food crisis again
"Driven by bad wheat and a serious collapse the Siberian harvest, world wheat prices and are once more flirting with those panic prices of 2007 and 2008."
Higher food prices push up retail inflation to 9.75% (India)
Brasil Foods Third-Quarter Profit Slumps on Higher Feed Costs

## Environment/health ##
Pandas' bamboo food may be lost to climate change
Climate change triggering national security threats

## Intelligence/security/internet/cyberwar ##
Chevron braced against Stuxnet
The 10 Companies That Control the News (US)

## Systemic breakdown ##
NY Harbor oil terminals, refineries crippled by Sandy
New York's Electricity Crisis Started Before Sandy
N.J. Transit Rail Outages Anger Riders, Spur Epic Commutes

## Japan ##
Consumers Flee to Cash in Japan as Noda's Economic Woes Deepen
"Japanese consumers are closing their wallets as the economy's outlook darkens, making it harder for Prime Minister Yoshihiko Noda to stave off the nation's third recession in four years."
It's reported that households and businesses are hoarding about ¥82 trillion in banknotes. Everyone knows that it's important to have a strong cash position. -- RF
Japan's economy contracts at swift pace
Japan Curbing China Investment as Feud-Weary Firms Flee
Shoveling mud, seeing the sights in Rikuzen-Takata
"Water and electricity remain scarcely available in areas that were submerged by the tsunami."
Former lawyer to run for Tokyo governor, vows to get rid of nuclear power

## China ##
China Heading Towards an Unavoidable Water Crisis
China's New Loans Trail Estimates Damping Signs of Recovery
Highways, schools closed as snowstorms hit northeast China
New Loans and Money Supply in China "Lower Than Expected"; Hopes of China Soft Landing Too High
Chinese official says 'no time limit' on ships sailing near Senkakus

## UK ##
London council pension schemes are 'ticking timebomb', says report
The UK's Most Disturbing Number: Total Unfunded Pension Obligations = 321% Of GDP
U.K. Shale Production to Take Up to 5 Years to Start
British Army Chief: Deploying Troops to Syria Being Constantly Considered

## US ##
Groupon Plunges to Record Low After Coupon Demand Fades
Wealthy Dump Assets Amid Worries About Going Over 'Cliff'
N.Y. governor to seek $30B in federal aid after Sandy
Post-Sandy, Residents Gut Hard-Hit Rockaway
David Petraeus scandal widens to include Barack Obama's cabinet
Sandy refugees say life in tent city feels like prison
"The post-storm housing — a refugee camp on the grounds of the Monmouth Park racetrack - is in lockdown, with security guards at every door, including the showers. No one is allowed to go anywhere without showing their I.D. Even to use the bathroom, 'you have to show your badge,' said Amber Decamp, a 22-year-old whose rental was washed away in Seaside Heights, New Jersey."
Hostess Closing Bakeries as Workers Won't Cross Lines
Veterans Home From War Battle U.S. Agency Supposed to Help Them
The Next Big Showdown
J.C. Penney's cash flow tells a sad story
Child's Education, but Parents' Crushing Loans
Glitch at NYSE Shuts Off Trading on 200 Stocks

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