Tuesday, December 11, 2012


News Links, December 11-12, 2012

## Global Ponzi meltdown/House of Cards ##
Europe backs Monti reforms as Italy crisis hits markets
Eurozone crisis has pushed millions into poverty
ThyssenKrupp Stops Dividend After $4.7 Billion Writedown
OECD Steel Committee signals weak growth in global markets
Spain's Weakened Banks Shackle Builders' Drive for Growth Abroad
Slowdown signs - Indian auto industry loosing momentum
Ten global companies cut 100,000 jobs in 2012; HP tops the list
Weak exports, imports signal tepid economic growth
"The U.S. trade deficit widened in October as exports suffered the biggest drop in nearly four years, indicating slowing global demand was spilling over into the already struggling U.S. economy."
Bank of England Warns of Global Currency Wars

## Airline Death Spiral ##
Coyne predicts 'new world order'
"Specialist all-cargo operator Coyne Airways predicts that most of Europe's legacy airlines will be forced out of the long-haul freighter business in the next five years as a result of increased competition and falling yields."
Cathay Pacific cabin crew vote for industrial action
AIG getting out of aircraft leasing
Air travel at risk of sharp decline
Ireland's airfreight capacity down 50pc in four years - IEA report
High Fuel Cost, Maintenance, Manpower Drive Airfare Cost Up
Air rage on the rise in China

## Fault lines/flashpoints/powder kegs/military/war drums ##
Tunisia police, militants clash near Algeria border, one dead
Turkish police destroy smuggler's oil pipeline with Iran
Israel raids Palestinian NGO offices
Kyrgyzstan could be "new Afghanistan", says president
Israelis, Indians team on air defense
"Israeli and Indian companies have signed a memorandum of understanding for joint development of naval air defense systems."
Israel Seen Behind AP's Iran 'Nuclear Graph' Hoax
Gasoline bombs found near Rome banks
Obama: US Officially Recognizes 'Syrian Opposition Coalition'
99% of Syrian Rebels Are Islamic Extremists And Jihadist Terrorists
Exclusive: UK military in talks to help Syria rebels
Egyptian President Gives Army Police Powers Ahead of Vote
CIA Takes Over Pentagon
2 Chinese ships enter disputed waters
US Sending 20 More F-16s to Egypt, Despite Dictatorial Morsi
"The US is desperate to retain as much influence over Egypt as possible"

## Global unrest/mob rule/angry people/torches and pitchforks ##
Health workers march in Madrid against cuts, reforms
Large crowds expected in Mich. over right-to-work bill
Thousands in New York protest China's rule of Tibet, urge U.N. action
Three killed in riots in southern Guinea
Sudan police fire teargas at student protest
Jimmy Hoffa Warns Of "Civil War" As Michigan Governor Signs "Right-To-Work" Into Law
Michigan Labor Protests Take Ugly Turn (VIDEOS)

## Energy/resources ##
Egypt Importing Gas for First Time as Exports Disappear
"Egypt, a natural-gas exporter to markets from China to Chile, is set to become an importer for the first time just as the new government needs energy shipments to revive an economy weakened by civil unrest."
At U.S. Embassies, an Incentive to Conserve Every Drop
Oil Watch - Global Liquid Fuel Production Trends (EIA data)
Peak Oil is Nonsense ... Because There's Enough Gas to Last 250 Years
The author shows why this is untrue. -- RF
The Renewable Energy Illusion
India Diesel consumption growth slows, who is consuming less?
Alberta fears chill in oil sands investment
Diesel shortage fuels taxis crisis for the disabled with Christmas supply in doubt (Australia)
Diesel shortage hits bee hive transport (Australia)
East Australia May Face Gas Supply Deficit, Market Operator Says
"Australia's east coast may face a natural gas supply shortfall amid growing local and Asian demand should companies in the area fail to develop reserves in time, according to the Australian Energy Market Operator."
German energy agency says higher tariffs needed for grid upgrade
"Germany's energy agency has called on the government to allow power grid companies to raise tariffs to provide a greater incentive for the billions of euros of infrastructure investment needed to support the shift to renewable energy."
CHART OF THE DAY: The Epic Implosion Of The Green Energy Bubble
South Africa coal prices up by nearly 18% despite stable demand

## Infrastructure scavenging ##
Copper thieves cause morning commute chaos (Australia)
M6 delays as cable stolen by metal thieves (UK)
"Drivers were today warned of eight weeks of disruptions on the M6 – as highways bosses revealed they are having to replace street light cabling stolen by metal thieves."

## Got food? ##
Global food prices ease; Wheat supply set to tighten
Food prices push China's inflation up to 2%
Global grain reserves tighten even as food prices fall

## Environment/health ##
Palm oil or lard?
How A Superbug Traveled The World
The Deadly Return Of Whooping Cough (US)
Ancient Chinese Cures Seen Helping Drug Maker Pipelines
Extirpation Nation: How much of the US will be habitable in 50 years?
Half the World's Oil Spills Happen in Russia – Greenpeace

## Intelligence/propaganda/security/internet/cyberwar ##
European renewable power grid rocked by cyber-attack
"A German power utility specialising in renewable energy was hit by a serious cyber-attack two weeks ago that lasted five days, knocking its internet communications systems offline, in the first confirmed digital assault against a European grid operator."
Google's GMail service suffers disruption
Saudis and allies build cyberwar defenses
"Saudi Arabia's Aramco says it's the target of a cyberwar campaign as Persian Gulf states build defenses against attacks like the one that knocked out Aramco computers."
The Nonexistent Facebook Democracy Is Now Gone for Good
Hacktivists Ghost Shell dump 1.6m log-in details on web
Public Buses Across Country Quietly Adding Microphones to Record Passenger Conversations (US)
10 Incredibly Simple Things You Can Do To Protect Your Privacy
Cyber Terrorists Threaten U.S. Banks

## Systemic breakdown ##
The world of 2030: U.S. declines; food, water may be scarce

## Japan ##
Gundersen: Fukushima Daini Unit 1 had pressure increase after quake — Reactor has already suffered core damage
Robot 'race' to fix damaged Fukushima nuclear plant
Tepco president admits No. 1 plant workers hired via murky system
Japan Atomic may have to decommission plant as active fault found
Power industry may suffer a blow
"If it is decided to decommission the Tsuruga nuclear power plant, it will hit not only its operator, the Japan Atomic Power Co., but also electricity utilities that have invested in the company. It will be a heavy blow to a power industry already suffering from increased fuel costs for thermal power generation."
Japan election points to return of "construction state"
Existing infrastructure can't be maintained, but they'll build more. -- RF
3 Japanese banks mull providing Sharp with 40 bil. yen in loans
Renesas capital injection could exceed 150 billion yen
Corporate sentiment worsens
GDP down 3.5% for 2nd quarterly fall
Ginza's oldest department store holding its goodbye party

## China ##
Move Over, Michigan, China Is The World's Next Rust Belt
"Six cities in Liaoning province, including Shenyang and Anshan, recently announced they are converting abandoned industrial sites to farmland."
China's November trade hit by unexpected slump
Wenzhou property market slumps due to insufficient capital
China's wealth gap at alarming level: survey
China plans over 300 dam projects worldwide
Battle for Deposits at China Banks Raises Fears
"To boost their deposit levels ahead of an expected year-end regulatory review, Chinese banks have recently accelerated their sales of high-yield investment products to customers, raising new concerns about the financial system and spurring the government to step up its oversight of the products."
China's Economic Planners Approve Shale Project
China Has Plenty of Shale Gas, But It Will Be Hard to Mine

## UK ##
E.ON UK to raise power, gas prices from Jan. 18
"UK energy supplier E.ON on Monday became the last of the country's largest six utilities to raise energy prices for this winter, blaming wholesale, transmission and social scheme costs."
Britons turn to families for festive financial support
"Nearly half of Britons will receive some form of financial support from their families this Christmas as the economic downturn continues to squeeze household budgets."
'Jedi' religion most popular alternative faith

## US ##
How the Government Is Coming After Your IRA and 401(k) Plan
America's Milk Business in a 'Crisis'
Buying time on Mississippi River shipping crisis
"Industry groups warn that a temporary river closure due to historic low water levels would delay movement of $7 billion in commodities"
Foodstamps Soar By Most In 16 Months: Over 1 Million Americans Enter Poverty In Last Two Months
15 Signs That The Economy Is Rapidly Getting Worse As We Head Into 2013
Millennials jobless rate is 16.4 percent
US student loans: The trillion dollar debt trap
Unemployment Is Not Going Down: The Employment Rate Has Been Under 59 Percent For 39 Months In A Row
11 Secret Documents Americans Deserve to See
New laws will make Michigan 24th "right-to-work" state
"Michigan legislators on Tuesday approved laws that ban mandatory membership in public-and private-sector unions, dealing a stunning blow to organized labor in the home of the U.S. auto industry."
Nisource gas pipeline explodes near Charleston, WV
Fed Seen Pumping Up Assets to $4 Trillion in New Buying
Housing Affordability Begins to Slide
Why More States May Adopt Right-to-Work Laws
This is part of the transformation of the US into a neofeudalistic society, which I have been forecasting for a long time. Under neofeudalism, workers are reduced to serfs with no rights. Of course, a captive workforce mired in grinding poverty and desperate for any kind of work will be a necessity if any semblance of industrial society is to be maintained, as ultra-cheap labor is a vital means of compensating for expensive energy. -- RF
Retirement fears rise among older workers

And finally…
Who shot Santa? Surreal scenes photographed in sets made of cardboard boxes

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