Tuesday, December 18, 2012
News Links, December 18-19, 2012
## Global Ponzi meltdown/House of Cards ##
IMF Says Ireland Should Defer Extra Austerity
Recession-hit Spaniards ditch mobile phones in record numbers
IMF Says Ireland Should Defer Extra Austerity
Recession-hit Spaniards ditch mobile phones in record numbers
Berlusconi says Italy may be forced to leave the euro zone
Alcoa May Be Reduced to Junk by Moody's on Aluminum 'Headwinds'
Motorola to shut down South Korea operations next year
Treasure flight: Afghan's baffling gold exodus
Corporate insiders increasingly bullish on gold
Alcoa May Be Reduced to Junk by Moody's on Aluminum 'Headwinds'
Motorola to shut down South Korea operations next year
Treasure flight: Afghan's baffling gold exodus
Corporate insiders increasingly bullish on gold
As anyone can see, things are really looking up in Greece. -- RF
"Consistent with the theme of his latest book, Endgame: The End of the Debt Supercycle and How It Changes Everything, Mauldin believes Japan is rapidly approaching the end of the road paved with government bonds and a strong currency."
Trading 'Kill Switch' Coming Soon: NYSE Exec
"U.S. regulators and exchanges are getting closer to a framework for a 'kill switch' that could be used to shut down trading before software glitches get out of control and wreak havoc on markets, a top exchange official said Tuesday."
Research Says: Studying Economics Turns You Into a Liar
"U.S. regulators and exchanges are getting closer to a framework for a 'kill switch' that could be used to shut down trading before software glitches get out of control and wreak havoc on markets, a top exchange official said Tuesday."
Research Says: Studying Economics Turns You Into a Liar
One has to be a liar to tell people that infinite growth can work. -- RF
## Airline Death Spiral ##
Iberia pilots offer significant salary cuts
"Pilots at Spanish airline Iberia, operating under International Airlines Group (IAG), have offered to lower their salaries by a half in order to save the company, Europa Press reports."
Southwest Airlines fee: No-shows will have to pay up
IATA Reports Improved Airline Profits as Year Ends
"Pilots at Spanish airline Iberia, operating under International Airlines Group (IAG), have offered to lower their salaries by a half in order to save the company, Europa Press reports."
Southwest Airlines fee: No-shows will have to pay up
IATA Reports Improved Airline Profits as Year Ends
Just like other businesses, airlines are downsizing themselves into profitability. -- RF
Wave of job cuts set for LOT
Brazil Airlines Can No Longer Pass Through Costs -ABEAR
Man Wears 70 Pieces of Clothing to Airport to Avoid Overwight Baggage Fees
Commercial airlines making loss despite hiking fares, high ATF prices add to woes
Europe's airlines to "break even" in 2013
"Airlines in Europe are expected to break even at best, according to new forecasts from airline body IATA."
Saudi aviation body to allow fare increases
Brazil Airlines Can No Longer Pass Through Costs -ABEAR
Man Wears 70 Pieces of Clothing to Airport to Avoid Overwight Baggage Fees
Commercial airlines making loss despite hiking fares, high ATF prices add to woes
Europe's airlines to "break even" in 2013
"Airlines in Europe are expected to break even at best, according to new forecasts from airline body IATA."
Saudi aviation body to allow fare increases
## Fault lines/flashpoints/powder kegs/military/war drums ##
In Iraq, Exxon oil deal foments talk of civil war
"With their opposing armies massed on either side of the contested border dividing southern and northern Iraq, leaders in Baghdad and the semiautonomous Kurdistan region are warning they are close to civil war — one that could be triggered by Exxon Mobil."
"With their opposing armies massed on either side of the contested border dividing southern and northern Iraq, leaders in Baghdad and the semiautonomous Kurdistan region are warning they are close to civil war — one that could be triggered by Exxon Mobil."
Gulf states face hard economic truth about subsidies
Iran military says plans more drills in Strait of Hormuz soon
How many bases does U.S. have globally and what is their cost?
Iran military says plans more drills in Strait of Hormuz soon
How many bases does U.S. have globally and what is their cost?
This will be about as successful as a Mars colony. -- RF
Masked thieves steal $25,000 of bullion at gunpoint (Australia)
## Global unrest/mob rule/angry people/torches and pitchforks ##
Police Use Teargas to Disperse Striking Plateau Workers (Nigeria)
## Global unrest/mob rule/angry people/torches and pitchforks ##
Police Use Teargas to Disperse Striking Plateau Workers (Nigeria)
"All this uncertainty - even the somewhat overblown risk of an Israeli strike on Iran's nuclear programme - might be manageable if not for one inconvenient fact: for the first time since the late 1960s, no government, corporation or cartel can realistically claim to have the spare capacity to backstop global demand in a sustained crisis."
As I've pointed out before, anything that runs on the detritus of industrial society is likewise doomed. -- RF
California refiners dreamin' of shale oil face hurdles
"Two years on, a gusher of U.S. shale oil production is finally starting to seep into California, where refiners in the country's most isolated fuel market are waging an increasingly desperate battle to curb costs."
"Two years on, a gusher of U.S. shale oil production is finally starting to seep into California, where refiners in the country's most isolated fuel market are waging an increasingly desperate battle to curb costs."
French power bills must rise to cover green costs - CRE
"A tax paid by French consumers as part of their electricity bills would have to rise 80 percent to cover development of renewable energy, energy regulator CRE said on Tuesday."
"A tax paid by French consumers as part of their electricity bills would have to rise 80 percent to cover development of renewable energy, energy regulator CRE said on Tuesday."
Investment in Canada's natural gas sector set to rival the oil sands
Sudanese president pledges to deepen oil cooperation with China
Sudanese president pledges to deepen oil cooperation with China
## Infrastructure scavenging ##
Is Copper the New Red Gold?
## Got food? ##
Exporting water through food
Is Copper the New Red Gold?
## Got food? ##
Exporting water through food
India Sees Children Dying as $2 Billion Program Proves Defective
## Lifestyle Solutions ##
Preppers in pictures: survivalists prepare for the end of the world
But holing up in a bunker makes little sense. Smart people see that the future is in building communities and engaging with the world around them, redesigning the economic system, and reordering priorities. -- RF
## Lifestyle Solutions ##
Preppers in pictures: survivalists prepare for the end of the world
But holing up in a bunker makes little sense. Smart people see that the future is in building communities and engaging with the world around them, redesigning the economic system, and reordering priorities. -- RF
## Environment/health ##
India could face crippling heat waves
India could face crippling heat waves
Too Big to Flood? Megacities Face Future of Major Storm Risk
"As economic activity and populations continue to expand in coastal urban areas, particularly in Asia, hundreds of trillions of dollars of infrastructure, industrial and office buildings, and homes are increasingly at risk from intensifying storms and rising sea levels."
"As economic activity and populations continue to expand in coastal urban areas, particularly in Asia, hundreds of trillions of dollars of infrastructure, industrial and office buildings, and homes are increasingly at risk from intensifying storms and rising sea levels."
## Intelligence/propaganda/security/internet/cyberwar ##
Cyber's Next Chapter: Penetrating Sealed Networks
Cyber's Next Chapter: Penetrating Sealed Networks
## Systemic breakdown ##
The Price Of "Collective Trauma": Greece At The Brink of Civil War
Hurricane Sandy relief turns to protest
Japan's Shinzo Abe prepares to print money for the whole world
"Japan's incoming leader Shinzo Abe has vowed to ram through full-blown reflation policies to pull his country out of slump and drive down the yen, warning Japan's central bank not to defy the will of the people."
"Japan's incoming leader Shinzo Abe has vowed to ram through full-blown reflation policies to pull his country out of slump and drive down the yen, warning Japan's central bank not to defy the will of the people."
New Tokyo governor looks seaward for vital rare earth elements
## China ##
China November Foreign Direct Investment -5.4% on Year at $8.29 Billion
## China ##
China November Foreign Direct Investment -5.4% on Year at $8.29 Billion
East Coast Main Line: Thousands stranded as trains cancelled
"Thousands of commuters were left stranded last night as overhead wire damage led to trains being cancelled."
Over 50,000 calls a day to HMRC are not answered, NAO says
"Thousands of commuters were left stranded last night as overhead wire damage led to trains being cancelled."
Over 50,000 calls a day to HMRC are not answered, NAO says
How 'fiscal cliff' is already hitting defense industry
Muni Bonds: How Killing a Tax Break for the Rich Could Hit Everytown, U.S.A.
Muni Bonds: How Killing a Tax Break for the Rich Could Hit Everytown, U.S.A.
Calpers Seeks Exemption From Bankruptcy Laws, Wants First-in-Line Payment Status; California, Illinois Completely Dysfunctional
Texas School District Will Let Teachers Carry Guns
The lowest cost combination of wind, solar and storage for the northeast United States for all renewable option for 2030 but more costly than nuclearTexas School District Will Let Teachers Carry Guns
Cheaper natural gas doesn't mean lower home heating bills
"If there is so much cheap natural gas floating around the United States, why aren't people's fuel bills falling? The answer is that fuel is only part of the fuel bill. A lot of what homeowners pay goes to building new power lines or tending to aging gas pipelines. In one recent rate case, a utility got a rate increase to cover pension costs."
Fast Food Scrooge: McDonald's Asks Franchisees to Open on Christmas
And finally…
