Sunday, December 09, 2012


News Links, December 8-10, 2012

## Global Ponzi meltdown/House of Cards ##
Bundesbank cuts growth outlook as crisis bites
Italy's Fiat cutting jobs in Poland
Dubai theme parks tipped to generate $1bn thrill
Moody's downgrades three Dubai banks
Spain's Economic Woes Take A Toll On The Media
ADB: Most Asian economies slowing on weak exports
Watch yield spreads as Monti calls it quits

## Airline Death Spiral ##
US airlines launch drive for national airline policy
Industrial action hits Aer Lingus numbers
Route cuts put Malaysia Airlines back to black
Downsizing into profitability: Countless businesses have done it since 2008. -- RF
Union head: Boeing strike likely

## Fault lines/flashpoints/powder kegs/military/war drums ##
Washington's Iranian Future
U.S. extends waivers on Iran sanctions to China and India
Some foreign firms still active in Iran's energy sector: U.S. report
Egypt crisis: President Morsi 'annuls' powers decree
Fears of a return to martial law as Egypt's military issues warning over street protests
Egypt's Morsi Reportedly Poised To Allow Military To Arrest Civilians
Israel's Olmert says country facing unprecedented isolation
Iran's long-range missiles said to lag U.S. intelligence fears
"An internal report for the U.S. Congress has concluded that Iran probably is no longer on track, if it ever was, to having an ocean-crossing missile as soon as 2015."
India Enters the Fray as the South China Sea Dispute Continues
U.S. and Russia still back Syria settlement: UN envoy
Syria's civil war spills into Lebanon, 4 dead

## Global unrest/mob rule/angry people/torches and pitchforks ##
Protesters surge around Egypt's presidential palace
Labor rebellion: Fast-food workers, inspired by Walmart strikers, demand higher wages
Police clash with thousands of rioters in China
Eight police injured as Northern Ireland riots spread
Police arrest, spray protesters at Mich. Capitol
"Michigan State Police say they have used chemical spray on right-to-work protesters who to tried rush into the Senate chamber at the state Capitol, and minority Democrats in the Legislature accuse Republican leaders of taking a 'shameful step' to undermine free speech."
Vietnam holds rare protests against China over sea disputes
"Vietnam held rare but brief protests against China in its two major cities on Sunday after Beijing demanded that Hanoi stop unilateral oil exploration in disputed waters and not harass Chinese fishing boats."
China police detain two Tibetans for inciting self-immolations
Rare Beijing protest takes aim at high speed rail project
Bangladesh police fire tear gas at election protest
Protesters say European Union does not deserve Peace Prize
Ghana police tear gas protesters ahead of poll results
South Sudanese army shoots dead 10 protesters in Wau
Pakistan's largest city rocked by wave of violence

## Energy/resources ##
The one chart about oil's future everyone should see
"When people read about a long-term forecast of world oil supply--say, out to 2030--they often believe that the forecasters are merely incorporating our knowledge of existing fields and figuring out how much oil can be extracted from them over the forecast period. Nothing could be further from the truth. Much of the forecast supply has not yet been discovered or has no demonstrated technology which can extract or produce it economically. In other words, such forecasts are merely guesses based on the slimmest of evidence."
Eagle Ford may outpace Kashagan
"Investments in the Eagle Ford shale play in Texas are expected to top what's projected for the giant Kashagan field in Kazakhstan, an analysis says."
This is an indication of the high capital investment needed to extract tight oil and gas. -- RF
Energy Leveraging: An Explanation for China's Success and the World's Unemployment
Arab states rush to join the shale boom
That countries around the world are turning to shale oil shows how the desperate the situation is. -- RF
Why Jim Rogers is not rushing out to buy Natural Gas
"Jim Rogers, the legendary commodity investor speculates that he may have a knowledge gap when it comes to shale gas but points out the fact that 'the number of drilling rigs for shale gas (in US) has gone down 75 percent in the last 18 months or so.'
"The wells are generally short-lived, he said: 'they're great for the first 30 days. But by year three or four, they're very expensive to maintain.'"
Shrinking Alaska output a growing problem
Kashmir: People in remote areas hit by acute power, water, fuel shortage
South Korea issues power shortage alert
Vietnam Begins Building $1.37 Billion Mekong Delta Power Plant
How Much Energy Does It Take to Get Our Energy? (US)
The energy return on "Domestic oil 2000" is far below that of firewood. Absolutely pathetic. -- RF
Canada's foreign limits may hit oil sands growth
"New Canadian rules limiting control of its oil sands by foreign state-owned companies may turn away some investors who now covet more than minority stakes just as the industry seeks massive amounts of capital to fuel its growth ambitions."

## Infrastructure scavenging ##
South Africa: Cable Theft Disrupts Services in Pretoria

## Got food? ##
Fossil Food & Agriculture
FAO report links high food prices to biofuel demand
"Biofuels account for the largest source of new demand for agricultural production and have helped drive price volatility in grain crops like wheat and maize, the UN Food and Agricultural Organization says in a new report."
Lower Mainland food supply at risk from rising sea levels (Canada)
Carnivorous Globalization

## Lifestyle Solutions ##
Build Your own Passive Solar Water Heater

## Environment/health ##
Big, Old Trees in Decline Worldwide
"Big, old trees are in decline throughout the world, which spells trouble for the forests in which they play such an important role, a new study finds."
Philippines declares state of calamity after deadly typhoon

## Intelligence/propaganda/security/internet/cyberwar ##
Saudi Arabia Says Aramco Cyberattack Came From Foreign States
"Saudi Arabia blamed unidentified people based outside the kingdom for a cyberattack against state-owned Saudi Arabian Oil Co. that aimed at disrupting production from the world's largest exporter of crude."
Secret Service launches investigation into 'immense' security breach as computer files left on metro
Verizon's Creepy Idea to Spy on TV Viewers
Calif. sues Delta Airlines over mobile app privacy
Record number of journalists have died in 2012
Air Force's X-37B mini-shuttle shrouded in secrecy
New 25 GPU Monster Devours Passwords In Seconds
White House Wants Black Boxes in Cars
Air Force May Be Developing Stealth Drones in Secret

## Systemic breakdown ##
Paris hit by wave of street muggings and grave robberies
"Austerity-struck Paris has been hit by a wave of street muggings and grave robberies with thieves prepared to exhume bodies to steal gold and jewelry."
Conflict and Change in the Era of Economic Decline: Part 1 - The 21st century landscape of conflict (Richard Heinberg)
Is US economic growth over? Faltering innovation confronts the six headwinds (PDF)
Japan tunnel disaster a wake-up call for other countries

## Japan ##
3rd Biggest Japan Shipping Line Stalls Dry Bulk Fleet Expansion
"Kawasaki Kisen Kaisha Ltd., Japan's third-biggest shipping line, delayed plans to expand its commodity-vessel fleet as a global glut saps cargo rates."
7.3 Earthquake Rattles Fukushima
Escape to Okinawa
"As radiation hot spots emerge in Tokyo and nuclear contamination plagues the country, some Japanese are fleeing to the Okinawa island chain to avoid the fallout from Fukushima. But is it too late?"
Japan Authorizes N. Korean Rocket Interception
"Japan on Dec. 7 ordered its military to shoot down a North Korean rocket if it threatens the nation's territory as Washington put anti-missile destroyers into position, ramping up pressure on Pyongyang."
Hydrogen concentration of reactor1 still keeps increasing
Toyota sees Japan sales dropping 20% in 2013
Toyota to put off China plant amid isles row, may delay another
Panasonic, Sony, Sharp looking to sell $3 bil worth of assets
Japan composite economic index down for 7th month in Oct.
TEPCO loses 3,350 corporate contracts after rate hike
Magnitude 7.3 'outer-rise' earthquake sparks fresh fears
Solar plant glut seen headed for Hokkaido
Saudi Oil exports to Japan hit $ 48.2 bn

## China ##
China Survey Shows Wealth Gap Soaring as Xi Pledges Help
"China's wealth gap is now 50 percent higher than a risk level for social unrest, according to a central bank-backed survey, underscoring new Communist Party chief Xi Jinping's warning that corruption may endanger its rule."
Chinese Survey Shows a Higher Jobless Rate
As Tibetan self-immolations rise, Beijing tightens grip
As China's clout grows, sea policy proves unfathomable
China is now heading toward Japan-style economic paralysis if it doesnt change course
Lights Out For China's Solar Power Industry?
"Nearly all the 'big names' of the industry, including companies such as LDK Solar, Yingli Solar (which sports fans will recognize from its sponsorship at recent international soccer events) and Suntech Power Holdings are all facing the possibility of bankruptcy, consolidation, or both following a remarkable few years in China's solar industry."
China deserting Japanese brand cars
Gasoline Stand in China Caught Selling Water as Fuel

## UK ##
Rise in cost of Christmas dinner offers plum excuse to ditch the sprouts
UK on triple-dip recession alert after industrial slowdown
Revealed: How the cost of a degree is now £100,000
Global banks moving jobs out of London: report

## US ##
Chart Of The Day: The Real Household Net Worth As A % Of Debt Chart
U.S. Consumer Borrowing Rises to Record $2.75 Trillion
Rail Traffic Is Slowing With The Economy
"Rail traffic is taking a turn for the worse in recent weeks as the economy appears to be slowing even further into Q4. The latest reading on intermodal traffic came in at -1.1%. That brings the trailing 12 week average to 1.65%. The US economy appears to be just barely treading water at this point."
Ivy League Cracks Down as Students Spiral Out of Control
AMD Cuts Chip Orders From Globalfoundries Amid PC Slump
Obama to ask Congress for more than $60 billion for storm repairs
Payroll-to-Population Ratio Declines — Gallup
"In a tracking survey that estimates the percentage of the U.S. population employed at least 30 hours a week, Gallup reports that the payroll-to-population (P2P) employment rate fell from 45.7% in October to 43.7% in November."
Game Changer? Jobs Report 'Isn't Much News at All'
US Army Corps Says Believes Can Keep Middle Mississippi River Open To Barges Through Late December
American Charities Face A Moment of Truth Over the Fiscal Cliff
Toll roads expanding in Texas
Detroit slashes jobs as bankruptcy rumors build
Gallup Reports Upper-Income Spending Worst November Ever
The Historic Inversion In Shadow Banking Is Now Complete
Ford Resurrects Lincoln
Remember what happened to the Maybach. -- RF
Consumer Sentiment Dives in November

And finally…
Catfish learning to hunt pigeons on land (VIDEO)
Today pigeons, tomorrow humans! -- RF

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