Tuesday, January 15, 2013
News Links, January 15-16, 2013
## Global Ponzi meltdown/House of Cards ##
Bundesbank reported ready to retrieve Germany's gold from New York and Paris (GATA)
Eurozone output falls for 3rd straight month
'Day of reckoning' looms for European auto makers, Marchionne warns
BlueScope Steel starts year with 170 job cuts (Australia)
Eurozone output falls for 3rd straight month
'Day of reckoning' looms for European auto makers, Marchionne warns
BlueScope Steel starts year with 170 job cuts (Australia)
Singapore steps up property curbs to bring down prices
"Singapore has moved to curb its red-hot property market, hitting the share prices of its major property firms."
"Singapore has moved to curb its red-hot property market, hitting the share prices of its major property firms."
DBS Says Singapore Property Curbs to Hurt Growth
"The Singapore government's aggressive property market curbs—the latest in a string of measures designed to cool prices as money continues to pour in from overseas—could chill overall economic growth, the city-state's largest lender warned, as local property developers saw their share market gains for the year largely erased."
"Emirates Airlines has opened a billion-dollar concourse in Dubai dedicated to Airbus's A380 super jumbos.""The Singapore government's aggressive property market curbs—the latest in a string of measures designed to cool prices as money continues to pour in from overseas—could chill overall economic growth, the city-state's largest lender warned, as local property developers saw their share market gains for the year largely erased."
South African miner Amplats closes shafts and cuts jobs
"Anglo American Platinum has said it will cease production at four mine shafts in the Rustenburg region of South Africa, which could lead to the loss of almost 14,000 jobs."
"Anglo American Platinum has said it will cease production at four mine shafts in the Rustenburg region of South Africa, which could lead to the loss of almost 14,000 jobs."
Many things considered to be valuable assets under a cheap-energy regime are now, under the new expensive-energy regime, turning into worthless junk. -- RF
Bitcoin Invades Mainstream Banking System
"Digital Currency Exchange, Bitcoin-Central, has been authorized by the French government to conduct bank style operations."
"Digital Currency Exchange, Bitcoin-Central, has been authorized by the French government to conduct bank style operations."
## Airline Death Spiral ##
Ukrainian Dniproavia halts flights
"Dnepropetrovsk-based Dniproavia, which is a part of the Ukrainian Aviation Group, has stopped flights and ticket sales, effective Jan. 8. The group also includes AeroSvit, which filed for bankruptcy at the end of December."
"Dnepropetrovsk-based Dniproavia, which is a part of the Ukrainian Aviation Group, has stopped flights and ticket sales, effective Jan. 8. The group also includes AeroSvit, which filed for bankruptcy at the end of December."
Flight deals grow scarce -- Days of big discounts over, analysts warn
Fires in Boeing Dreamliner electrical compartment raise safety concerns
Fires in Boeing Dreamliner electrical compartment raise safety concerns
The great London airport debate
Mexicana gets new liquidation deadline extension
"Mexicana Airlines, which suspended operations under severe financial distress in August 2010, is again up for sale."
Mexicana gets new liquidation deadline extension
"Mexicana Airlines, which suspended operations under severe financial distress in August 2010, is again up for sale."
Defense business woes shut down Ryan International Airlines
United Airlines to lay off 472 at Newark Airport
United Airlines to lay off 472 at Newark Airport
## Fault lines/flashpoints/powder kegs/military/war drums ##
Despite Sanctions, Iran's Economy Limps Along
"And oh, on 14 September 2012 the United States exempted Belgium, Britain, the Czech Republic, France, Germany, Greece, Italy, the Netherlands, Poland, Spain, and Japan from complying with the sanctions for another 180 days, a list that was expanded on 8 December to include China, India, South Korea, Malaysia, Singapore, South Africa, Sri Lanka, Turkey, and Taiwan."
Report says Assad residing on warship
"Syrian President Bashar Assad and his family have been living on a warship, with security provided by Russia, intelligence sources told a Saudi newspaper."
"Syrian President Bashar Assad and his family have been living on a warship, with security provided by Russia, intelligence sources told a Saudi newspaper."
Russia asserts sovereignty over isles after questioning by Japan
"Russia on Monday strongly rejected remarks by Japanese Chief Cabinet Secretary Yoshihide Suga questioning Russian sovereignty over four islands controlled by Moscow but claimed by Tokyo."
"Russia on Monday strongly rejected remarks by Japanese Chief Cabinet Secretary Yoshihide Suga questioning Russian sovereignty over four islands controlled by Moscow but claimed by Tokyo."
Barack Obama 'says Benjamin Netanyahu doesn't know what is good for Israel'
"Barack Obama sees Benjamin Netanyahu as a "political coward" whose policies pose a greater threat to Israel's existence than Iran's nuclear programme because he does not know what is in the country's best interests, it has been claimed."
"Barack Obama sees Benjamin Netanyahu as a "political coward" whose policies pose a greater threat to Israel's existence than Iran's nuclear programme because he does not know what is in the country's best interests, it has been claimed."
The imperial agenda of the US's 'Africa Command' marches on
"With mission accomplished in Libya, Africom now has few obstacles to its military ambitions on the continent"
"With mission accomplished in Libya, Africom now has few obstacles to its military ambitions on the continent"
## Global unrest/mob rule/angry people/torches and pitchforks ##
Malaysians gather in tens of thousands demanding political reforms
## Energy/resources ##
It's part of the vicious circle of energy decline. Brace yourself. -- RF
U.S. grid turns up heat on Texas to address electric shortfall
"The top U.S. power grid watchdog has turned up the heat on Texas to address a looming shortage of electric capacity that increases the likelihood of rolling outages."
"The top U.S. power grid watchdog has turned up the heat on Texas to address a looming shortage of electric capacity that increases the likelihood of rolling outages."
Installing Transmission Infrastructure makes Offshore Wind too Expensive
"Offshore wind farms have always, required heavy duty transmission lines to connect them to the land. These transmission lines are expensive to lay and delays in their construction constantly lead to wind farms waiting long periods before they are actually connected to the national grid, and their electricity can be used by consumers."
"Offshore wind farms have always, required heavy duty transmission lines to connect them to the land. These transmission lines are expensive to lay and delays in their construction constantly lead to wind farms waiting long periods before they are actually connected to the national grid, and their electricity can be used by consumers."
Power cable supply a risk to green projects
"A prospective shortage of capacity to manufacture high-voltage power cables threatens grand European projects to build offshore wind and other renewable power projects in remote areas and link isolated countries to the grid."
"A prospective shortage of capacity to manufacture high-voltage power cables threatens grand European projects to build offshore wind and other renewable power projects in remote areas and link isolated countries to the grid."
The grand dream of powering industrial society with renewables keeps receding into the future. -- RF
French utilities to cut costs, sell assets
"French utilities EDF and GDF Suez have announced cost cuts and asset sales to further shore up balance sheets hit by high debt and slack demand."
"French utilities EDF and GDF Suez have announced cost cuts and asset sales to further shore up balance sheets hit by high debt and slack demand."
The downward spiral in the energy system continues apace. -- RF
CNOOC and ConocoPhillips Work to Reopen China's Largest Oilfield
CNOOC and ConocoPhillips Work to Reopen China's Largest Oilfield
"If operators thought that shale assets would be long-lived and highly productive they would build pipeline infrastructure to ensure equally long lived profits. But that is not the case. They have chosen instead to ship by rail for three times the cost of a pipeline. It is more likely that industry recognizes the short lives of shale wells and are not prepared to invest the capital needed to build the infrastructure."
## Got food? ##
Water grabbing occurring at 'alarming rates'
"Deals in which rich foreign corporations and countries buy or lease agricultural land abroad result in nearly half a trillion cubic metres of fresh water also being grabbed each year — often enough to grow sufficient food to abate undernourishment in the 'grabbed countries', a paper reveals."
Water grabbing occurring at 'alarming rates'
"Deals in which rich foreign corporations and countries buy or lease agricultural land abroad result in nearly half a trillion cubic metres of fresh water also being grabbed each year — often enough to grow sufficient food to abate undernourishment in the 'grabbed countries', a paper reveals."
Achieving a Sustainable Food System with Organic Farming
## Lifestyle Solutions ##
Live on Less and Love It!
"Try these 75 inspiring ideas and enjoy life more while spending and consuming less."
## Environment/health ##
Junk food linked to asthma and eczema in children
## Lifestyle Solutions ##
Live on Less and Love It!
"Try these 75 inspiring ideas and enjoy life more while spending and consuming less."
## Environment/health ##
Junk food linked to asthma and eczema in children
Greece seeks gold boom at cost of environment
Palm estates expected to rise by 200,000 hectares a year
Years of mining destroy underground water systems as land caves in (China)
Palm estates expected to rise by 200,000 hectares a year
Years of mining destroy underground water systems as land caves in (China)
## Intelligence/propaganda/security/internet/cyberwar ##
German activists start campaign to destroy surveillance cameras
Spying on one's citizens with cameras! I'm shocked! What other country would do this? -- RF
1 million Android phones in China could have botnet virus
Nashville to allow police to carry AR-15s
## Systemic breakdown ##
1 million Android phones in China could have botnet virus
Nashville to allow police to carry AR-15s
Facebook loses 1.4 million active users in U.S.
"The social network may be reaching a saturation point"
"The social network may be reaching a saturation point"
Must read: Why Expansionist Central States Inevitably Implode
U.S. infrastructure woes could cost 3.5 mln jobs by 2020 -report
U.S. infrastructure woes could cost 3.5 mln jobs by 2020 -report
BOJ cuts assessments on 8 out of 9 regional economies
"The Bank of Japan on Tuesday downgraded assessments on eight out of nine regional economies in the country compared with three months earlier for the second straight quarter, as the continued slowdown in overseas economies has pressured manufacturing activities."
Fukushima city not sticking to plan to decontaminate homes
"The Bank of Japan on Tuesday downgraded assessments on eight out of nine regional economies in the country compared with three months earlier for the second straight quarter, as the continued slowdown in overseas economies has pressured manufacturing activities."
Fukushima city not sticking to plan to decontaminate homes
Tohoku farmers adversely affected by consumer fears of nuclear contamination
"In the wake of the Great Eastern Japan Earthquake disaster in 2011, which caused the nuclear meltdown of the Fukushima Daiichi nuclear plant, business in the Tohoku region turned into a nightmare."
"In the wake of the Great Eastern Japan Earthquake disaster in 2011, which caused the nuclear meltdown of the Fukushima Daiichi nuclear plant, business in the Tohoku region turned into a nightmare."
There are also media reports of many food deliveries delayed, and even empty shelves in some places. Which all goes to underscore the extreme fragility of the economic system. -- RF
Fisheries still not fully recovered
"Catches of fish in Iwate and Miyagi prefectures have been gradually recovering since the Great East Japan Earthquake damaged the area's fishing industry, which appears far from a full recovery."
"Catches of fish in Iwate and Miyagi prefectures have been gradually recovering since the Great East Japan Earthquake damaged the area's fishing industry, which appears far from a full recovery."
## China ##
China's GCL-Poly Warns Of Loss Amid "Vicious" Solar Industry Competition
"GCL-Poly Energy Holdings, one of the world's largest suppliers of polysilicon and silicon wafers, warned investors on Friday that it expected to post a 'substantial' loss for 2012. It didn't say how large it would be."
China's GCL-Poly Warns Of Loss Amid "Vicious" Solar Industry Competition
"GCL-Poly Energy Holdings, one of the world's largest suppliers of polysilicon and silicon wafers, warned investors on Friday that it expected to post a 'substantial' loss for 2012. It didn't say how large it would be."
Cause of blackout downtown unclear (Shanghai)
U.K. Rejects Calls to Halt Arctic Oil Drilling
"The U.K. government has rejected lawmakers' calls for a halt to Arctic oil and gas drilling, despite renewed safety concerns following the recent grounding of Royal Dutch Shell PLC's (RDSA, RDSA.LN, RDSB.LN) Kulluk rig off Alaska, saying that securing global energy supplies was paramount."
"The U.K. government has rejected lawmakers' calls for a halt to Arctic oil and gas drilling, despite renewed safety concerns following the recent grounding of Royal Dutch Shell PLC's (RDSA, RDSA.LN, RDSB.LN) Kulluk rig off Alaska, saying that securing global energy supplies was paramount."
Nurseries facing crisis as struggling parents turn to grandparents
"NURSERIES are facing a growing financial crisis as struggling parents increasingly pull their children out of childcare to save money, operators have warned."
Wind farm contracts to increase energy bills for families
"NURSERIES are facing a growing financial crisis as struggling parents increasingly pull their children out of childcare to save money, operators have warned."
Wind farm contracts to increase energy bills for families
"Under a scheme agreed by Labour leader Ed Miliband during the last Labour government, but implemented by Coalition ministers, the contracts guarantee that the power firms will be paid even if they fail to deliver energy to households."
Forcing energy companies to give customers the cheapest deal could be 'too difficult'
"Ministers' plans to force power companies to give households the cheapest deals available could be too 'difficult' to implement, a boss of one of the 'big six' energy companies has said."
"Ministers' plans to force power companies to give households the cheapest deals available could be too 'difficult' to implement, a boss of one of the 'big six' energy companies has said."
Can you afford to turn up the thermostat? Cold snap to add £7 a week to gas and electricity bills
Bitter taste for drinkers as beer is watered down to save money
Bitter taste for drinkers as beer is watered down to save money
## US ##
Number of working poor families grows as wealth gap widens
"The number of U.S. families struggling with poverty despite parents being employed continued to grow in 2011 as more people returned to work but mostly at lower-paying service jobs, an analysis released on Tuesday shows."
"The number of U.S. families struggling with poverty despite parents being employed continued to grow in 2011 as more people returned to work but mostly at lower-paying service jobs, an analysis released on Tuesday shows."
R.I.P. Retirement: 28% Of Americans Are Raiding Their 401k Plans
Travel Cuts at AmEx Point to End of Era
"The belt-tightening in American corporations that made relics of pension plans, in-house cafeterias and even many holiday parties is squeezing another victim: American Express Co.'s travel business."
Travel Cuts at AmEx Point to End of Era
"The belt-tightening in American corporations that made relics of pension plans, in-house cafeterias and even many holiday parties is squeezing another victim: American Express Co.'s travel business."
Ugly Choices Loom Over Debt Clash
"The showdown over the nation's debt ceiling could force the government to consider drastic steps to manage its limited cash, including delaying trillions of dollars of payments to employees, Social Security recipients, contractors and others."
"The showdown over the nation's debt ceiling could force the government to consider drastic steps to manage its limited cash, including delaying trillions of dollars of payments to employees, Social Security recipients, contractors and others."
Homeless Seek Shelter, Crops Suffer Amid Southwest Cold Snap
Obama "No Ransom For Crashing Economy"; Republicans Threaten Default
Consumers Cut Back on Toilet Paper, Pampers, Huggies; Payroll Tax Bite to Subtract .8% from GDP
General Dynamics Issues Layoff Notices for 139 Workers at Anniston, Ala., Site
Obama "No Ransom For Crashing Economy"; Republicans Threaten Default
Consumers Cut Back on Toilet Paper, Pampers, Huggies; Payroll Tax Bite to Subtract .8% from GDP
General Dynamics Issues Layoff Notices for 139 Workers at Anniston, Ala., Site
Retirement funds rules turn on workers
"Nearly a quarter of funds U.S. workers stash in retirement accounts each year are withdrawn to pay current bills and meet other needs, a study indicates."
"Nearly a quarter of funds U.S. workers stash in retirement accounts each year are withdrawn to pay current bills and meet other needs, a study indicates."
Obamacare Sticker Shock; Expect Insurance Premiums to Soar; Aetna CEO Says Some Rates Will Double
Hey Wall Street, get ready for more layoffs
Hey Wall Street, get ready for more layoffs
Why U.S. might be 'a nation of deadbeats'
"Consumers have been paying down debt, but walking away from more"
"Consumers have been paying down debt, but walking away from more"
