Thursday, December 20, 2012
News Links, December 20-21, 2012
## Global Ponzi meltdown/House of Cards ##
Chaebol Founder Dismantles Life's Work as Slump Deepens: Freight
Chaebol Founder Dismantles Life's Work as Slump Deepens: Freight
Greeks Can't Find Euros to Buy Heating Oil in Winter Economy
France Faces Growing Pension Deficit; French Youth Lose Hope; Politicians in Denial; Bond Market Patience Can't Last
France Faces Growing Pension Deficit; French Youth Lose Hope; Politicians in Denial; Bond Market Patience Can't Last
UBS $1.5 Billion Libor Settlement Signals More to Come
Alberta backs away from balanced budget as oil revenue drops
Alberta backs away from balanced budget as oil revenue drops
Fitch says 'fiscal cliff' may cost US 'AAA' rating
Big Stock Traders Seeking Liquidity in Asia's Dry Year
Big Stock Traders Seeking Liquidity in Asia's Dry Year
Downsizing into profitability: Sunway scales back solar production to ward off losses
## Fault lines/flashpoints/powder kegs/military/war drums ##
UN, EU, Russia Condemn Israeli Settlements
"All members of the U.N. Security Council, with the lone exception of the United States, have publicly condemned Israel's recent settlement expansion activities and called for them to end. In a rare move, 14 of the council's 15 members read public statements of their views instead of seeking formal action by the council, since that likely would have been opposed by the United States."
"All members of the U.N. Security Council, with the lone exception of the United States, have publicly condemned Israel's recent settlement expansion activities and called for them to end. In a rare move, 14 of the council's 15 members read public statements of their views instead of seeking formal action by the council, since that likely would have been opposed by the United States."
"Nine years after U.S.-led forces toppled the dictatorship of Saddam Hussein, even specialists in frontier markets are backing off from Iraq. Daily blackouts, congested ports and other infrastructure woes compound investor concerns about violence and corruption, and a broad recovery continues to elude this energy-rich nation of 33 million people."
House-Senate Panel Worries About 'Slippery Slope' of Over-Militarization of U.S. Espionage
"A special congressional panel, worried about the disappearing lines between military and intelligence work, is endorsing Senate-approved language restricting plans to insert the U.S. military into the global espionage business."
"A special congressional panel, worried about the disappearing lines between military and intelligence work, is endorsing Senate-approved language restricting plans to insert the U.S. military into the global espionage business."
Iran sidesteps sanctions to export its fuel oil
"Iran is becoming increasingly creative in dodging Western sanctions, managing to sell a rising volume of fuel oil to generate revenue equal to up to a third of its crude exports, which have been badly hit by restrictions."
"Iran is becoming increasingly creative in dodging Western sanctions, managing to sell a rising volume of fuel oil to generate revenue equal to up to a third of its crude exports, which have been badly hit by restrictions."
In China's shadow, ASEAN leaders look to India for maritime security
"Southeast Asian nations and India vowed on Thursday to step up cooperation on maritime security, a move that comes amid tension with China in the potentially oil- and gas-rich South China Sea."
"Southeast Asian nations and India vowed on Thursday to step up cooperation on maritime security, a move that comes amid tension with China in the potentially oil- and gas-rich South China Sea."
## Global unrest/mob rule/angry people/torches and pitchforks ##
Tanzania: Religious Leaders Warn of Unrest
"RELIGIOUS leaders have called for timely intervention by authorities to signs of social and religious unrest to avoid the outbreak of all out conflicts similar to those that caused massive devastation in neighbouring states."
Cargo workers could strike at Miami, Everglades ports
"RELIGIOUS leaders have called for timely intervention by authorities to signs of social and religious unrest to avoid the outbreak of all out conflicts similar to those that caused massive devastation in neighbouring states."
Cargo workers could strike at Miami, Everglades ports
Gang rape on New Delhi bus sparks protests across India
Police disperse protesters at South Africa Harmony Gold mine
Police disperse protesters at South Africa Harmony Gold mine
Radar blackout paralyzes Soekarno-Hatta airport (Indonesia)
Kyrgyz freeze as gas, power supplies run short
"Thousands of households in the capital of Kyrgyzstan have been hit by chronic gas and power shortages just as temperatures have dropped to around minus 20 Celsius (minus 4 Fahrenheit)."
Powerless Andhra Pradesh's ice cream industry melting (India)
"Thousands of households in the capital of Kyrgyzstan have been hit by chronic gas and power shortages just as temperatures have dropped to around minus 20 Celsius (minus 4 Fahrenheit)."
Powerless Andhra Pradesh's ice cream industry melting (India)
Copper thieves strike again; at least 4,500 feet of wire stolen from middle school
## Got food? ##
The End of the Green Revolution
## Got food? ##
The End of the Green Revolution
This article is quite sobering. Nevertheless, it does not factor energy decline, climate change, or peak farmland (see below) into the equation, which makes the situation even more serious than described here. -- RF
"For the past six years the world has consumed more food than it has produced. As a result, global food reserves are at the lowest level since 1974, when the world had 4 billion people. Today we have 7 billion."
Touring a "Back to Eden" Garden
## Lifestyle Solutions ##
Losing the art of conversation in a mobile phone world
My post-electric washing machine: The Deindustrial 2020
## Lifestyle Solutions ##
Losing the art of conversation in a mobile phone world
My post-electric washing machine: The Deindustrial 2020
## Environment/health ##
Human Hands Evolved for Punching
"Human hands evolved so that men could make fists and fight, and not just for manual dexterity, new research finds. The study, published in the Journal of Experimental Biology, adds to a growing body of evidence that humans are among the most aggressive and violent animals on the planet."
The eye-opening costs of America's insomnia
## Intelligence/propaganda/security/internet/cyberwar ##
Anonymous member: We aim to take Westboro Baptist Church offline permanently
Obama Openness Promise Belied as Disclosure Suits Outpace Bush
## Intelligence/propaganda/security/internet/cyberwar ##
Anonymous member: We aim to take Westboro Baptist Church offline permanently
Obama Openness Promise Belied as Disclosure Suits Outpace Bush
Global Supply Chain News: Here Comes the "Container Cliff"
"With the extended expiration of the contract with East and Gulf Coast dock workers set to occur in less than two weeks, global shipping may soon be dealt a fierce blow, in what some have wittily started calling the 'container cliff.'"
Healthcare market faces growing supply chain pressures
"With the extended expiration of the contract with East and Gulf Coast dock workers set to occur in less than two weeks, global shipping may soon be dealt a fierce blow, in what some have wittily started calling the 'container cliff.'"
Healthcare market faces growing supply chain pressures
## Japan ##
Why Japan's new Prime Minister is a gold bug
"Japan's seventh prime minister in six years, Shinzo Abe has made it immediately clear that he wants a weaker yen and supports money printing to infinity. The markets have obliged by devaluing the yen by six per cent even before he assumed office, now perhaps they can really get going."
'Japan is f**ked', says ex-Olympus chief executive Michael Woodford
Pressure mounts on Bank of Japan as November exports fall
Pressure mounts on Bank of Japan as November exports fall
November trade deficit third-worst on record
## China ##
Of special interest here is that there is going to be a new post, an "economic revitalization minister." This is, of course, the way civilizations fall: They become increasingly complex, in turn requiring ever greater energy throughput to keep it all going. Energy-savvy people can already see the tragic end. The new prime minister intends to bring back the good old days through efforts at maintaining and expanding a system that has already reached its limits. -- RF
Crumbling infrastructure: Metropolitan Expressway turns 50, shows signs of aging
50% of world's illegal money transfers come from China: report
China to overhaul struggling solar panel industry
China Plans Yuan Flexibility After Global Easing, Xinhua Says
"China will increase the movement of yuan exchange rate 'appropriately' to handle the new round of quantitative easing by the world's central banks, the official Xinhua News Agency said in an editorial."
China to overhaul struggling solar panel industry
China Plans Yuan Flexibility After Global Easing, Xinhua Says
"China will increase the movement of yuan exchange rate 'appropriately' to handle the new round of quantitative easing by the world's central banks, the official Xinhua News Agency said in an editorial."
## UK ##
'Big drop' in UK petrol stations as fuel reserves fall
Thousands Of UK Households To Fall Into Fuel Poverty
Britain's new dash for gas will require more storage investment
"Britain needs to provide more incentives to draw investment into additional gas storage capacity, analysts say, as the country builds new gas-fired power stations fuelled largely by imported supplies."
Thousands Of UK Households To Fall Into Fuel Poverty
Britain's new dash for gas will require more storage investment
"Britain needs to provide more incentives to draw investment into additional gas storage capacity, analysts say, as the country builds new gas-fired power stations fuelled largely by imported supplies."
Newtown massacre fuels bullet-proof backpack sales
Money Funds Brace for Flood
"BlackRock Inc. BLK -0.42% and Federated Investors Inc. FII -0.20% might bolt the door to shield their funds from a torrent of money that is expected to flood out of U.S. banks when a federal guarantee lapses on roughly $1.7 trillion in bank deposits."
Money Funds Brace for Flood
"BlackRock Inc. BLK -0.42% and Federated Investors Inc. FII -0.20% might bolt the door to shield their funds from a torrent of money that is expected to flood out of U.S. banks when a federal guarantee lapses on roughly $1.7 trillion in bank deposits."
And finally…
