Tuesday, December 04, 2012


News Links, December 4-5, 2012

## Global Ponzi meltdown/House of Cards ##
It's curtains for Australia's great resources boom
"There's new evidence that the nation is approaching a critical turning point in the investment cycle that's set to create serious problems for the economy."
Australia says growth of iron ore and coal may have slowed
Greece begins buying back bonds
Moody's retains negative outlook for Indian banks
10 Ways to Prepare Your Community for Economic Collapse
China, S. Korea to Boost Use of Local Currencies in Trade
Japan, India strike currency swap agreement
No chance of new Dubai property bubble - bank boss
Greek-style deal for Portugal not on the table: PM
RBA Cuts Key Rate to Match Half-Century Low as Currency Holds Up
Chart Of The Day: The Unprecedented Implosion Of European Car Sales
Canadian Pacific Railway to cut 4,500 jobs, 1,700 by year-end
Ghost property projects in UAE reborn with new purpose
America's Black Friday Frenzy Goes Global

## Airline Death Spiral ##
US Airways Investors Hoping For Merger Bailout May Be Disappointed
Cathay Pacific Flight Crews Warn of Industrial Action
British Airways to cut 400 cabin crew jobs
East European Air Cutbacks on State Austerity Hurt Travel
Pakistan's aviation industry failing to fly
Boise Airport flights at more than 10-year low
Higher Holiday Airfares Blamed On Fuel Prices, Smaller Planes

## Fault lines/flashpoints/powder kegs/military/war drums ##
UN Calls on Israel to Open Nuclear Program to Inspections
"The UN General Assembly has overwhelmingly approved a resolution calling on Israel to open its nuclear program for inspection 'without further delay.'"
Indian navy ready to deploy to South China Sea as tensions climb
"India has declared itself ready to deploy naval vessels to the South China Sea to protect its oil-exploration interests there, a potential new escalation of tensions in a disputed area where fears of armed conflict have been growing steadily."
Dollar-Less Iranians Discover Virtual Currency
"Iranians are resorting to virtual currency to move money into and out of the country in a way that Western authorities find hard to detect."
Vietnam state oil company says Chinese boats cut cables being laid by seismic survey vessel
PetroVietnam CEO Says Chinese Ships Cut Cables 'By Accident'
Vietnam steps up sea patrols as tensions with China climb
Dangerous moves in the East China Sea could bring Japan, China to armed conflict
Cyprus offers mediation between Lebanon, Israel to solve undersea oil, gas dispute
Report: Iran says it has captured US drone
Israel vows to pursue settlement plans despite international anger
Israel accuses US of backing European settlement backlash
Sunni-Alawite clashes break out in north Lebanon
Turkish energy minister denied permission to land in Northern Iraq: official
Germany eyes big-ticket Mideast arms sales
Amsterdam to create 'scum villages'
"Amsterdam is to create "Scum villages" where nuisance neighbours and anti-social tenants will be exiled from the city and rehoused in caravans or containers with "minimal services" under constant police supervision."
NATO agrees to send Patriot missiles to Turkey
More Than the Navy's Numbers Could Be Sinking

## Global unrest/mob rule/angry people/torches and pitchforks ##
Violent mass protest continue in Slovenia
Slovenia police arrest 141 in violent anti-austerity protests
Tunisian Islamists, leftists clash in Tunis after job protests
Morsi leaves through back door as Egypt protesters surround palace

## Energy/resources ##
Central Asia: Falling Temperatures, Failing Energy Supplies
"The blackouts usually start this time of year. As the temperature drops and the days get shorter, Central Asia's aging energy infrastructure struggles to keep up, leaving residents cold and in the dark."
Gas-rich Qatar to invest up to $20 billion in solar energy plant
The enemy of solar in desert regions is dust. -- RF
Russian Oil Output Hits Record 10.5 Million Barrels a Day
But it doesn't seem to have much of a downward effect on oil prices. -- RF
Commentary: Identifying the "oil" we're most worried about (Robert Hirsch)
Electricity Provider Warns of Dry-Season Power Cuts (Cambodia)
Nigerians Groan Under Severe Blackout
Evaluating production potential of mature US oil, gas shale plays (Oil & Gas Journal)
A bit long and technical, but a useful analysis for those interested in the technical aspects. The big take-home lesson is, as one would expect, that decline rates are very high and recovery efficiencies are very low. This is bad news for industrial society, which was built on a much more favorable energy regime. -- RF
Brazilian oil giant Petrobras dumps NZ exploration permits
Indian Business Press Trashes China's Electrical Grid Ambitions
China's Oil Quest Comes to Iraq
"While China's oil dealings with countries like Iran and Sudan receive global attention, its budding relationship with Iraq may turn out to be the most important."
Record Asia Oil Takeovers Match U.S. Pace for First Time: Energy
Oil Watch - OECD oil production (IEA)
Punjab induction furnance industry hit by power shortage
Turkey says Iran gas not covered by US sanctions
Fossil Fuel Subsidies In Focus At Doha Climate Talks
Nigeria's crude oil production slides to 2.09mbpd

## Infrastructure scavenging ##
Risking death for a dollar: Copper thieves target power substations
Thieves steal $250K in freeway copper
9 bronze sculptures taken from Sandy gallery
Rising Scrap-Metal Prices Threaten Firefighting Operations
Vancouver thieves target storm drain grates

## Got food? ##
Food shortage to reach critical phase in Asia, Africa

## Lifestyle Solutions ##
Russia's ecological miracle

## Environment/health ##
Brought in ballast, aggressive seaweed spreads along East Coast
"An invasive Asian seaweed that likely was brought to the New England coast from Europe has spread across more than 400 miles of Atlantic coastline since it was first discovered in U.S. waters off Rhode Island in 2009, biologists say."
Beyond 7 billion: Bending the population curve
U.S. flu season gets strong early start
Iran shuts schools, offices in capital due to high pollution
Hong Kong Leads Singapore, U.S. in Youth Gap: Chart of the Day
The root of this problem is that populations grew too quickly thanks to cheap energy. -- RF
How pesticides in your water might be causing food allergies
Air Pollution Linked to Autism
Study: Lions losing habitat across Africa
More Americans Suffering From Vacation Deprivation

## Intelligence/propaganda/security/internet/cyberwar ##
Reporters sans Frontières launch censored content website
Access to private net, phone use up by 20% - without warrants (Australia)
Facebook Makes A Huge Data Grab By Aggressively Promoting Photo Sync
Artificial brain passes basic IQ test
Net regulation talks set to begin in Dubai
Swiss spy agency warns U.S., Britain about huge data leak
"Secret information on counter-terrorism shared by foreign governments may have been compromised by a massive data theft by a senior IT technician for the NDB, Switzerland's intelligence service, European national security sources said."
Cops to Congress: We need logs of Americans' text messages

## Systemic breakdown ##
Epic 125-mile traffic jam keeps drivers in gridlock for entire weekend (Russia)

## Japan ##
Japan Tunnel Collapse Sparks Concerns Over Aging Infrastructure
"At a regular press conference Monday morning Japan's top government spokesman said the country's public roadways have become old and will 'need a huge investment' to ensure their safety in the future."
Japan orders tunnel inspections after death toll rises to nine
Japan Tunnel Collapse Threatens to Add to Fiscal Burden: Economy
Key artery's closure blow to transport, bus firms
"Travel agencies and transport companies scrambled to deal with cancellations and rerouting Monday after the deadly Sasago Tunnel accident closed off the Chuo Expressway in Yamanashi Prefecture — a major east-west artery."
Japan tunnel disaster shows aging of public works
Kyodo: Concern about condition of Fukushima Unit 4 — Fuel rods may get dumped onto ground and burn up in quake — Tepco 'hastening' removal
Rampant illegal hiring practices suspected at Fukushima nuke plant
TEPCO: Half of contract workers at Fukushima work under dodgy conditions
TEPCO considers net in nuke plant port to prevent irradiated fish from heading seaward
Countrywide winter power saving period started
Sharp to get Y9.9 bil cash injection from Qualcomm

## China ##
Is the Latest World's Tallest Building a Boondoggle?
Chinese clothing manufacturers buried under excess stock
"With inventories already hitting record high levels in the first half the year, clothing manufacturers in China are struggling to clear an enormous backlog of stock, yet there seems to be no immediate solution to the pressure under current economic conditions."
China's Economy "Bottoming Out"? - Not So Fast!
How Hard Will The China-Japan Islands Dispute Hit The Chinese Economy?

## UK ##
BP to Use Desalinated Water to Enhance Oil Extraction Rates

## US ##
Low-Wage Jobs Cause More Problems Than They Solve
Pollution from oil refinery accidents on the rise in Louisiana
Manufacturing ISM Plummets To Lowest Print Since July 2009
Another debt bubble is bursting
Washington Proposes $1 Trillion Bailout for Delinquent Student Loans
On U.S. Growth, Economists Rein in Estimates
Gundersen: The dominoes are starting to fall in U.S. — I think we'll see quite a few nuclear plants shutting down permanently (VIDEO)
Investors 'Should Get Used to 1-2% Growth': Pimco's Gross
U.S. GDP on the road to zero growth by 2050
I can't imagine why it would take until 2050 to reach zero growth. The economy will contract before then. -- RF
Newark Mayor Cory Booker begins food stamp challenge
Striking L.A. Port Clerks Cost U.S. $1 Billion a Day
Deflationary Trends in Consumer Credit
U.S. manufacturers grind to a halt
Have Tax Revenues Topped Out?
Fed Governor Proposes Research on Shadow Banking System
Intel Taking On $6 Billion In Debt To Buy Back More Stock
High-Frequency Trading: A Grave Threat to the Markets and the Economy
Are Holiday Sales Statistics Juiced? How Retail Sales Totals Can Vary By Billions
'Cliff' Deadline Was Two Months Ago: Allstate CEO

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