Thursday, November 29, 2012


News Links, November 27-28, 2012

## Global Ponzi meltdown/House of Cards ##
Euro zone, IMF reach deal on cutting long-term Greek debt
Fed's $2.6T Payments System Risks Paralysis As Judge Orders Argentina To Pay Defaulted Bonds
Ottawa boasts about slashing VIP jet fleet
Phase one of $2.7bn Dubai theme park to open in 2014
Dubai Tries to Revive Its Construction Boom, but Can It Find the Cash?
OECD warns of further weakness in Europe
"Europe's economy will contract next year and the United States will see slower growth than previously forecast, the Organization for Economic Cooperation and Development warned Tuesday."
Market Yawns as Greek Debt Deal Finalized; Deal? What Deal? Why Does it Even Matter?
Behind the Scenes, Germany is Already Preparing For a Grexit
Argentina Rating Downgraded by Fitch on 'Probable' Default
French Unemployment at 14-year High

## Airline Death Spiral ##
Rules of the game have changed for the European airlines
Cathay Pacific notes significant increases in cost-base, fuel costs in 2012 exceeding budget by 6%
Struggling Indian airlines line up foreign investment
Airport leans more on taxpayer funding after Allegiant's departure
US Airways: Sandy cut profits by $35 million
China's airport construction takes off
"Li admitted that most of China's airports are now running at a loss. Of the 180 airports China had in 2011, 130 were in the red, with a combined deficit of about 2 billion yuan. In a recent report, the Beijing Evening News said that almost all of the country's feeder airports are posting losses."
IAG's Iberia Faces Pre-Christmas Strike as Unions Fight Job Cuts
Filton Airport closure date is confirmed (UK)
Airport to close, become solar farm (Japan)

## Fault lines/flashpoints/powder kegs/military/war drums ##
White House seeking formal rules on drone strikes: report
Spanish company embroiled in nuclear smuggling scheme with Iran
Two Iranian navy ships to visit Sudan again
Gazans say "Thank you Iran" after Israel conflagration
"Gazans offered very public thanks to Iran on Tuesday for helping them in this month's fight against Israel, when Iranian-made missiles were fired out of the Palestinian enclave towards Jerusalem and Tel Aviv."
US Can Deter and Contain Iran, Brzezinski Says
"Former White House national security adviser Zbigniew Brzezinski said Monday [Nov. 26] that the United States has 'no implicit obligation to follow like a stupid mule' an Israeli strike on Iranian nuclear sites and that a US or an Israeli attack on the Islamic Republic would be 'the worst option' should negotiations fail."
China starts new infrastructure projects in South China Sea
Car bombs kill 23 Shi'ite Muslims in Iraqi capital
U.S. to raise passport map issue with China
"The United States will raise concerns with China over a new map in Chinese passports which details claims to disputed maritime territory, alarming some of its Southeast Asian neighbors, the State Department said on Tuesday."
China Turns Attention To Military As Economy Cools
France Will Support Palestinian Bid For Status At United Nations
DigitalGlobe: Images Suggest Looming N. Korea Missile Test
Iran in Position to Threaten Oil lanes

## Global unrest/mob rule/angry people/torches and pitchforks ##
Bahrain police break up march after Ashura memorial service
"Bahraini security forces used tear gas and stun grenades to scatter hundreds of youths who tried to march towards the centre of the capital on Monday after annual Ashura services marking one of the holiest days in the Shi'ite Muslim calendar."
Chinese bus drivers in Singapore in rare labor protest
" At least 100 Chinese bus drivers in Singapore refused to go to work on Monday to protest against changes to their employment terms, media said, in a rare show of defiance in a city-state where industrial action is almost unheard of."
Passengers attack railway offices (Pakistan)
"A violent protest was sparked at the cantonment railway station on Monday, as almost every passenger train scheduled to leave Karachi was delayed for hours due to an acute shortage of fuel."
Thousands protest in Bangladesh, blaze draws U.S. scrutiny
Kuwait to allow protest march on eve of election: PM
Brazil oil revenue: Mass protest in Rio de Janeiro
Tibetan students protest, as four more self-immolations reported
Protesting farmers spray European Parliament with milk
Egyptians pack Tahrir Square for anti-Morsi protest
Police clash with protesters in Tunisia who want more development funds, 14 wounded

## Energy/resources ##
Saudi Arabia warns domestic oil use growing at 'frightening level'
The Red Queen Syndrome
Dust a major challenge hindering Qatar's solar ambitions
"One of the main challenges hindering expansion of Qatar's solar energy sector is the build-up of dust on the panels and the need for them to be constantly cleaned, a leading energy official has said."
The rise and fall of the U.S. wind industry, in one chart
Pemex Announces Another Large Oil Discovery
Thorium To Be Tested in a Working Nuclear Reactor
Yemenis fret over oil shortages
Iran aims to increase oil storage capacity
Oil Watch - OPEC Crude Oil Production (IEA)
Nation's power situation looks bleak (India)
India's peak power demand faces steep rise
Kalimantan Fuel Shortage Conflict Prompts Locals to Flee (Indonesia)
Zimbabwe: Massive Power Outage Hits Bulawayo
South Korea finds more nuclear parts with fake documents

## Got food? ##
Growing food in the desert: a solution to the world's food crisis?
A longish but quite interesting article. The originator of the idea is right to stick by his principles and keep everything as simple and unmechanized as possible. The high-tech version, on the other hand, is doomed to fail, as none of this will work for long in a collapsing economy. One other really big problem is that there is virtually no market in the desert, which means that the produce will have to be shipped to cities in refrigerated trucks. Also, nutrients and other supplies have to be trucked in. How sustainable does that sound? The key to food production is to stick with systems that are low-tech and do not rely on the industrial economy. -- RF
Hungry For The Holidays: 20 Facts About Hunger In America That Will Blow Your Mind
The Fundamentals of Root Cellaring
Unlike high-tech greenhouses, it's low-tech, and is completely free of the industrial economy. Here is a valuable component of the system we need to ensure we are eating even when the supermarkets close. -- RF
Higher Prices Wipe Out Gains to U.S. Farm Income
Delayed Argentine corn crop to buoy world food prices
More food price inflation expected, according to 2013 forecast
Record drought leaves food banks dry
Food shortage threatens 51 countries: Al Attiyah

## Environment/health ##
Smoking 'rots' brain, says King's College study
Video: NOAA scientists on high alert for 2013 solar maximum
Air Bubbles Threatening Forests

## Intelligence/propaganda/security/internet/cyberwar ##
Feds seize 132 domain names to stop knockoff sales
US Power Grid Vulnerable to Just About Everything
Palm scanners get thumbs up in schools, hospitals
In the Ultimate Media War, Governments Target Reporters
The Kill Switch Comes to the PC
"Kill switches are a standard part of most smartphones, tablets, and e-readers. Google, Apple (AAPL), and Amazon (AMZN) all have the ability to reach into devices to delete illicit content or edit code without users' permission."
Cambridge researchers to study Terminator-like scenarios
Discover tests fingerprint payment system
The U.N.'s Internet Sneak Attack

## Japan ##
Sony at greater risk than Panasonic in electronics downturn-Fitch
Storm blacks out 41,000 homes in Hokkaido
Noda orders new ¥880 billion stimulus
Extra budget must top 5 trillion yen
"A supplementary budget exceeding 5 trillion yen is needed for Japan to cope with the current tough economic situation, a senior Liberal Democratic Party lawmaker said Tuesday."
Former airport to be huge solar plant
"The municipal government of Makurazaki, Kagoshima Prefecture, said Tuesday it will build a huge solar power plant after demolishing a local airport in March."
The important news here is not the plan to build a solar farm there, but that an airport opened in 1991 is already closing at the end of this year. -- RF
Helium shortage keeps balloons grounded at Tokyo Disneyland
X-day – when Fukushima plant discharges millions of tons of contaminated water to Pacific ocean
NHK: One person stops working at Fukushima plant each day — A serious problem, conditions deteriorating (VIDEO)
Rebuilding projects not linked to disaster halted
Rice prices soar despite plentiful harvest / Increase in higher-priced premium brands squeezing cheaper varieties out of market
Rate hikes likely to further hit firms / KEPCO's plan to increase electricity charges seen as damaging struggling businesses

## China ##
Gloom Over China Stocks Deepens; 4-Year Low
"China's main stock index closed at its lowest level in almost four years Tuesday and slipped below a key  psychological level, indicating deepening investor worries over the health of the nation's public equity markets."
Chinese banks rush to issue bonds for more funds
China Cosco Plans $1 Billion U.S. Bond
"Shipping giant China Cosco Holdings Ltd. said it plans a $1 billion, 10-year U.S. dollar bond offer for the general corporate purposes of its offshore units and affiliates."
China Approves $26 Billion for Infrastructure in November

## UK ##
Work Programme: 70% still unemployed after one year
"Seven out of 10 unemployed people have failed to find jobs despite being on    the government's flagship back-to-work scheme for more than a year, according to figures released today."
London property is about to collapse
The pound is heading for a big fall
UK energy deal triples renewable subsidy by 2020
The great British wind scam

## US ##
Black Friday: The Excuses Begin
Black Friday Mirage Hides U.S. Retail Depression
US 'sees biggest Cyber Monday sales'
14% Of S&P 500 Earnings Is "One Time Write Off" Vaporware
Chart Of The Day: Continued Collapse In Capital Goods New Orders Confirms US Is In Recession
Stocks dead, bonds deader till 2022: Pimco
Ten Reasons to be Wary of US Energy Independence Claims
New York, New Jersey put $71 billion price tag on Sandy
Texas Schools Teaching Boston Tea Party As Terrorist Act
Chicago Fed: Slower Economic Activity In October
Drilling on Campus
"Oil and gas drilling is increasing on college campuses across the nation as cash-strapped schools turn to exploiting their  resources in order to balance their budgets."
Do You Live In A Death Spiral State?
Why Is This Story Not Front-Page News Every Day?
"That number is $87 trillion, and it is the present value of America's future financial obligations—in plain English, what the country owes and, as things stand, cannot remotely hope to pay."
Why $16 Trillion Only Hints at the True U.S. Debt
Drought-Parched Mississippi River Is Halting Barges
Failed Bankers Should Be Paid Like Civil Servants: Taleb
"Bankers who take government bail- outs to stay afloat should be paid no more than the civil servants who saved their business, said Nassim Nicholas Taleb, author of 'The Black Swan.'"
The Scariest Chart Of The Quarter: Student Debt Bubble Officially Pops As 90+ Day Delinquency Rate Goes Parabolic
Are we living in the Hunger Games?
CME Declares Force Majeure Due to "Operational Limitations" on NYC Gold Depository
More Downside for Steelmaker
Watch As Wal-Mart Customers Nearly Riot For Smartphones On Black Friday

And finally…
Science fiction: SpaceX Billionaire Elon Musk Wants A Martian Colony Of 80,000 People

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