Friday, November 02, 2012
News Links, November 3, 2012
## Global Ponzi meltdown/House of Cards ##
Deeper euro zone factory downturn hardens stimulus view
"Euro zone manufacturing shrank for the 15th month running in October as output and new orders fell, a survey showed on Friday, fuelling expectations of further easing from the European Central Bank."
Deeper euro zone factory downturn hardens stimulus view
"Euro zone manufacturing shrank for the 15th month running in October as output and new orders fell, a survey showed on Friday, fuelling expectations of further easing from the European Central Bank."
Egypt moves to rein in energy subsidy bill
"Egypt has taken a first step to getting expensive energy subsidies under control, a key component of an economic reform programme the cash-strapped government is presenting to the IMF to obtain a loan."
"Egypt has taken a first step to getting expensive energy subsidies under control, a key component of an economic reform programme the cash-strapped government is presenting to the IMF to obtain a loan."
Four global banks told to hold extra capital
"Citigroup, Deutsche Bank, HSBC and JPMorgan Chase have been told by global regulators that they need to hold more extra capital than their rivals."
"Citigroup, Deutsche Bank, HSBC and JPMorgan Chase have been told by global regulators that they need to hold more extra capital than their rivals."
## Airline Death Spiral ##
American Airlines freezes its pension plans
"American Airlines Inc. froze its four massively underfunded pension plans Thursday, an action that put to an end a long-running saga over the plans' future."
Fees for Everything: Airlines Rake In Big Bucks From 'Extras'
"American Airlines Inc. froze its four massively underfunded pension plans Thursday, an action that put to an end a long-running saga over the plans' future."
Fees for Everything: Airlines Rake In Big Bucks From 'Extras'
Nigeria: Airlines - the Burden of Survival
## Fault lines/flashpoints/powder kegs/military/war drums ##
## Fault lines/flashpoints/powder kegs/military/war drums ##
Exclusive: PM on standby to send warplanes to Gulf as Iranian tensions rise (UK)
No matter who wins Tuesday's election, U.S. likely to become entangled in Syria's war
Guided mortar rounds fired from small UAV
U.S. renews sanctions, Sudan criticizes decision
No matter who wins Tuesday's election, U.S. likely to become entangled in Syria's war
Guided mortar rounds fired from small UAV
U.S. renews sanctions, Sudan criticizes decision
The global war on free speech
"It's not just China and Russia: editors in Greece and Hungary are being harassed, while Britain's straitened press is in danger of being cowed by powerful interests and excessive regulation"
"It's not just China and Russia: editors in Greece and Hungary are being harassed, while Britain's straitened press is in danger of being cowed by powerful interests and excessive regulation"
Report: Afghan Can't Maintain US-Built Facilities After Pullout
"A new report from the Special Inspector General for Afghanistan Reconstruction (SIGAR) has yet more bad news for the prospects of the 11+ year war's success, cautioning that the Afghan government is completely unprepared to even maintain the buildings built for it or feed its own troops."
## Global unrest/mob rule/angry people/torches and pitchforks ##
Strike at East African hub port of Mombasa enters second day
"A new report from the Special Inspector General for Afghanistan Reconstruction (SIGAR) has yet more bad news for the prospects of the 11+ year war's success, cautioning that the Afghan government is completely unprepared to even maintain the buildings built for it or feed its own troops."
## Global unrest/mob rule/angry people/torches and pitchforks ##
Strike at East African hub port of Mombasa enters second day
Expert Warns of 'Gunfire' If Gas Shortages Continue
"John Hofmeister, head of Citizens for Affordable Energy told CNBC that the governors of New York, New Jersey and Connecticut should resort to dramatic measures to prevent the inconvenience from spiraling into further chaos or violence."
"John Hofmeister, head of Citizens for Affordable Energy told CNBC that the governors of New York, New Jersey and Connecticut should resort to dramatic measures to prevent the inconvenience from spiraling into further chaos or violence."
## Energy/resources ##
Well, this certainly shaves millions of years off the process, but at a tremendous energy cost because we have to supply the pressure cooker, whereas in the case of fossil fuels Mother Nature did the work for us. -- RF
Chevron's profit hurt by lower production and prices
"Chevron, the nation's second-largest oil company, says its third-quarter net income fell 33% to $5.25 billion."
"Chevron, the nation's second-largest oil company, says its third-quarter net income fell 33% to $5.25 billion."
## Infrastructure scavenging ##
Metal thieves steal bridge in Salem Twp.
Copper thieves hit sports parks throughout the Kingwood area
## Got food? ##
Forget About Gasoline, Is There a Food Shortage?
"Grocery stores were scrambling to keep shelves stocked four days after Super Storm Sandy hit the east coast, but their efforts were hampered by power outages, storm damage and a lack of fuel for trucks."
"Grocery stores were scrambling to keep shelves stocked four days after Super Storm Sandy hit the east coast, but their efforts were hampered by power outages, storm damage and a lack of fuel for trucks."
FAO: Africa land grabs like 'Wild West'
"The head of the Food and Agriculture Organization warned that 'land grabs' of arable land in Africa by foreign governments and investors threatens the continent's food security."
U.S. drought shrinking, but not fast enough
"The head of the Food and Agriculture Organization warned that 'land grabs' of arable land in Africa by foreign governments and investors threatens the continent's food security."
U.S. drought shrinking, but not fast enough
## Environment/health ##
Sandy caused "major damage" to U.N. headquarters: official
Sandy caused "major damage" to U.N. headquarters: official
Peru's Glaciers, An Important Source of Drinking Water, Are Disappearing
Massive barrier plan to save New York from flooding
Massive barrier plan to save New York from flooding
## Intelligence/security/internet/cyberwar ##
Israel builds up its cyberwar corps
"Amid signs the cyberwar with Iran is heating up, Israel reportedly has launched a recruitment drive to expand a highly secret group to address cyberattacks."
Study: Unencrypted Smart Meter Signal Easy to Read
"Amid signs the cyberwar with Iran is heating up, Israel reportedly has launched a recruitment drive to expand a highly secret group to address cyberattacks."
Study: Unencrypted Smart Meter Signal Easy to Read
## Systemic breakdown ##
"Until electrical power is restored to the Phillips 66 and Hess Corp. refineries in New Jersey, the refineries will remain out of production.
"And the long lines we've seen for gasoline are also due to the lack of electricity. Gasoline stations need electricity to run their pumps. No electricity, no gasoline."
Could failed power, hospital evacuations be the new normal?
"'Unprecedented' storm pushes disaster plans; backup power fails along NY hospitals"
Millions Stuck in Dark, Cold
"'Unprecedented' storm pushes disaster plans; backup power fails along NY hospitals"
Millions Stuck in Dark, Cold
Nomads in Queens Endure Life on the Line as They Forage for Gas
Without Electricity, New Yorkers on Food Stamps Can't Pay for Food
Without Electricity, New Yorkers on Food Stamps Can't Pay for Food
## UK ##
'Dale farmers going without food so they can afford to feed their animals'
"TEESDALE farmers are going without food so they can feed their animals, a shocking new report into rural poverty has revealed."
Just a small amount of rain could cause flooding this winter - Environment Agency
"TEESDALE farmers are going without food so they can feed their animals, a shocking new report into rural poverty has revealed."
Just a small amount of rain could cause flooding this winter - Environment Agency
## US ##
Sandy on track to be second-largest flood loss ever
Widespread looting reported in Atlantic City
"Gas lines stretched more than a mile in Somerville and Newark. Fights broke out at service stations in Elizabeth, Montclair and Middletown. Black marketeers and opportunists began to circle, reselling fuel at steep markups."
I go on record as saying that in the US riots over gas would come before riots over food. -- RF
"In the third quarter of 2012, FreightWatch recorded a total of 225 thefts in the United States, with an average loss value per incident of $172,403, a 23% increase from the previous three months of the year."
