Thursday, January 17, 2013
News Links, January 17-18, 2013
## Global Ponzi meltdown/House of Cards ##
German gold move may spark 'chain reaction'
German gold move may spark 'chain reaction'
Alison Redford's grim Alberta financial outlook
"Addressing the press, Redford said that the province is losing $75 million a day."
"Addressing the press, Redford said that the province is losing $75 million a day."
World Bank Cuts Growth Forecasts for Emerging Europe
"The World Bank slashed its 2013 growth forecast for a group of eleven emerging European countries to 1.3% from 2.5%, as deeper economic woes in the euro zone and especially in Germany weigh heavier on the region, it said in a semi- annual report published Thursday."
"The World Bank slashed its 2013 growth forecast for a group of eleven emerging European countries to 1.3% from 2.5%, as deeper economic woes in the euro zone and especially in Germany weigh heavier on the region, it said in a semi- annual report published Thursday."
IMF releases loans installment to Portugal
Morgan Stanley Cutting 5% Of Asian Institutional Securities Staff
Morgan Stanley Cutting 5% Of Asian Institutional Securities Staff
World on Brink of 'Currency War' After Japan Move: Russia
"The world's leading economies are on the brink of a 'currency war' to keep up with Japan and use devaluation to boost their competitiveness, Russia's central bank said."
"The world's leading economies are on the brink of a 'currency war' to keep up with Japan and use devaluation to boost their competitiveness, Russia's central bank said."
EU Lawmakers Back Sovereign-Debt Curbs for Ratings Companies
Now we are at the point where governments need to censor ratings companies. -- RF
Now we are at the point where governments need to censor ratings companies. -- RF
## Airline Death Spiral ##
Vietnamese market too severe to airlines
"Analysts now bet on the fate of Air Mekong after hearing that the private airline cannot pay for fuel. Pacific Airlines still has reported a loss for the last five consecutive years of operation."
"Analysts now bet on the fate of Air Mekong after hearing that the private airline cannot pay for fuel. Pacific Airlines still has reported a loss for the last five consecutive years of operation."
## Fault lines/flashpoints/powder kegs/military/war drums ##
US Drones, Boots Arrive In Mali
On Its Way Out, the US Will Give Afghanistan Its Very Own Fleet of Drones
On Its Way Out, the US Will Give Afghanistan Its Very Own Fleet of Drones
China Signs Steel Deal in Iran
"A large Chinese state-owned company said it signed a $712 million dollar contract to help build a steel plant in Iran, signaling that Beijing isn't ready to join Western nations in increasing pressure on Tehran over its nuclear program."
"A large Chinese state-owned company said it signed a $712 million dollar contract to help build a steel plant in Iran, signaling that Beijing isn't ready to join Western nations in increasing pressure on Tehran over its nuclear program."
Russia says seeking nuclear talks with Iran by end-Jan
Firebrand cleric raises fear of "soft coup" in Pakistan
Firebrand cleric raises fear of "soft coup" in Pakistan
Israeli parliament set for record influx of Orthodox lawmakers
"Orthodox Jews have left niche parties to join Likud and other mainstream factions, challenging the dominance of non-observant politicians and infusing Israeli politics with religious fervor and a harder line on the Palestinian conflict."
"Orthodox Jews have left niche parties to join Likud and other mainstream factions, challenging the dominance of non-observant politicians and infusing Israeli politics with religious fervor and a harder line on the Palestinian conflict."
Global pirate attacks fall to five-year low
"International naval patrols off Somalia and armed private guards on board ships have driven pirate attacks to a five-year low in 2012, but the risk to shipping off west Africa is growing."
"International naval patrols off Somalia and armed private guards on board ships have driven pirate attacks to a five-year low in 2012, but the risk to shipping off west Africa is growing."
Senior China leader urges island talks with Japan
"A high-level Chinese official has called for talks with Japan over a disputed island chain, in an apparent attempt by Beijing to cool tensions that have seen both sides scramble jet fighters to the area in recent days."
"A high-level Chinese official has called for talks with Japan over a disputed island chain, in an apparent attempt by Beijing to cool tensions that have seen both sides scramble jet fighters to the area in recent days."
Japan Mulls Military Equipment Near Disputed Isles
"Japan may station military equipment on islands near an archipelago at the center of a dispute with China, officials said Jan. 16, after a number of airborne near-confrontations."
"Japan may station military equipment on islands near an archipelago at the center of a dispute with China, officials said Jan. 16, after a number of airborne near-confrontations."
ASDF wing could move to Sakishima Islands
"In light of repeated approaches to and an intrusion into Japanese territorial airspace by Chinese airplanes near the Senkaku Islands, the government is considering deploying an Air Self-Defense Force air wing at the Sakishima Islands, west of Okinawa Island, it has been learned."
"In light of repeated approaches to and an intrusion into Japanese territorial airspace by Chinese airplanes near the Senkaku Islands, the government is considering deploying an Air Self-Defense Force air wing at the Sakishima Islands, west of Okinawa Island, it has been learned."
Hanoi and Tokyo agree to deepen security ties
"Prime Minister Shinzo Abe and Vietnamese counterpart Nguyen Tan Dung agreed Wednesday to deepen bilateral security cooperation in the face of China's growing maritime assertiveness."
"Prime Minister Shinzo Abe and Vietnamese counterpart Nguyen Tan Dung agreed Wednesday to deepen bilateral security cooperation in the face of China's growing maritime assertiveness."
U.S. quietly trying to suppress dangers of Syria's chemical arsenal
"The Obama administration has quietly arranged for thousands of chemical protective suits and related items to be sent to Jordan and Turkey and is pressing the military forces there to take principal responsibility for safeguarding Syrian chemical-weapons sites if the country's lethal nerve agents suddenly become vulnerable to theft and misuse, Western and Middle Eastern officials say."
"The Obama administration has quietly arranged for thousands of chemical protective suits and related items to be sent to Jordan and Turkey and is pressing the military forces there to take principal responsibility for safeguarding Syrian chemical-weapons sites if the country's lethal nerve agents suddenly become vulnerable to theft and misuse, Western and Middle Eastern officials say."
US general says Britain risks 'special relationship' if it cuts military
"Britain will be shut out of key decisions in the 'Special Relationship' with the US if it does not maintain credible military capabilities, America's former top commander in Afghanistan has warned, recalling experiences of Britain's failures in war zones."
"Britain will be shut out of key decisions in the 'Special Relationship' with the US if it does not maintain credible military capabilities, America's former top commander in Afghanistan has warned, recalling experiences of Britain's failures in war zones."
## Global unrest/mob rule/angry people/torches and pitchforks ##
Gulf activists step up campaigns despite quiet crackdown
Workers at South Africa's Amplats down tools: labor leader
Workers at South Africa's Amplats down tools: labor leader
Bombers kill more than 35 across Iraq
"More than 35 people died in a suicide attack and other bombings in northern Iraq and Baghdad on Wednesday, worsening sectarian strife as Prime Minister Nuri al-Maliki faces mounting pressure from minority Sunni Muslims and Kurds."
"More than 35 people died in a suicide attack and other bombings in northern Iraq and Baghdad on Wednesday, worsening sectarian strife as Prime Minister Nuri al-Maliki faces mounting pressure from minority Sunni Muslims and Kurds."
This is of course the real purpose behind the sanctions: To destabilize Iranian society and precipitate the collapse of the government so that Washington can install a puppet government and gain control of Iran's hydrocarbon wealth. -- RF
Zimbabwe: Anti-Sanctions Protesters Disrupt U.S. Ambassador's Manicaland Tour
"US Ambassador to Zimbabwe, Bruce Wharton, who was touring projects funded by the US government in Manicaland province, was greeted on Tuesday and Wednesday by demonstrators who are against the restrictive measures imposed by the US."
"US Ambassador to Zimbabwe, Bruce Wharton, who was touring projects funded by the US government in Manicaland province, was greeted on Tuesday and Wednesday by demonstrators who are against the restrictive measures imposed by the US."
## Energy/resources ##
The Really, Really Big Picture: There isn't going to be enough net energy for the economic growth we want (Chris Martenson)
BP's Big Plan: Burn It. Burn It All.
"Showing no concern for climate, CEO of oil giant says notions of Peak Oil are 'increasingly groundless'"
"Showing no concern for climate, CEO of oil giant says notions of Peak Oil are 'increasingly groundless'"
Merkel's Offshore Wind-Power Dream for Germany Stalls
"RWE AG (RWE) is delaying investments. SIAG Nordseewerke GmbH filed for insolvency. REpower Systems SE is cutting temporary staff. All show how German Chancellor Angela Merkel's 550 billion-euro ($734 billion) plan to replace nuclear reactors with renewable sources is stalling."
"RWE AG (RWE) is delaying investments. SIAG Nordseewerke GmbH filed for insolvency. REpower Systems SE is cutting temporary staff. All show how German Chancellor Angela Merkel's 550 billion-euro ($734 billion) plan to replace nuclear reactors with renewable sources is stalling."
British North Sea oil output seen at 1977 levels this year
"A major stoppage of North Sea oil production serves as a stark reminder of ageing infrastructure and a lack of investment in new developments, which is seen reducing Britain's oil output to 1970s levels in 2013."
Graphene: Patent surge reveals global race
"A major stoppage of North Sea oil production serves as a stark reminder of ageing infrastructure and a lack of investment in new developments, which is seen reducing Britain's oil output to 1970s levels in 2013."
Graphene: Patent surge reveals global race
Cormorant Alpha leak shuts down up to 27 UK oil fields
"A pipeline system servicing up to 27 oil fields has been shut down after a leak on the Cormorant Alpha platform, north-east of Shetland."
"A pipeline system servicing up to 27 oil fields has been shut down after a leak on the Cormorant Alpha platform, north-east of Shetland."
The huge area and number of panels versus the small proportion of power provided underscores the impossibility of running industrial society on renewables. -- RF
"Although the sunny, dry conditions of the Middle East seem ideal for solar technology, with summers that exceed 110°F, Qatar is hotter and dustier than countries with successful solar energy sectors like Germany, the United States, and Japan. Without regular rainfall to wash away caked on dust, and extreme heat, most solar panels cannot operate efficiently."
Nevada propane shortage should ease with new order
"[Governor] Sandoval declared a state of emergency on Tuesday effective for 15 days. The governor also suspended federal regulations that limit, among other things, the number of hours driven by a commercial operator in a shift. Liquefied petroleum is in particularly high demand in Nevada because of its heavy use in mining operations."
"[Governor] Sandoval declared a state of emergency on Tuesday effective for 15 days. The governor also suspended federal regulations that limit, among other things, the number of hours driven by a commercial operator in a shift. Liquefied petroleum is in particularly high demand in Nevada because of its heavy use in mining operations."
"The original power grid pathways—similar to a highway system—were built in the early 20th century. Additionally, many utility companies have structures that have been running for 50 to 70 years. Unfortunately, the infrastructure age is causing further problems to the weakening grid."
Israel Electric Said to Plan Billion-Shekel Debt Sale
"Israel Electric Corp. plans to raise as much as 1.5 billion shekels ($403 million) in government- backed debt in March, a person familiar with the matter said, as the state-run utility seeks funds to offset soaring fuel costs."
"Israel Electric Corp. plans to raise as much as 1.5 billion shekels ($403 million) in government- backed debt in March, a person familiar with the matter said, as the state-run utility seeks funds to offset soaring fuel costs."
## Infrastructure scavenging ##
City reports storm sewer grate thefts
City reports storm sewer grate thefts
Cargill Beef to cut 2,000 jobs in Texas
"Cargill Beef said Thursday it would close its Plainview, Texas, processing plant shedding 2,000 jobs, due to a limited cattle supply."
"Cargill Beef said Thursday it would close its Plainview, Texas, processing plant shedding 2,000 jobs, due to a limited cattle supply."
## Environment/health ##
Monsoon rains trigger floods in Jakarta, Indonesia, paralysing city of 14 million (photo gallery)
Common pesticides a threat to bees, EU watchdog says
Common pesticides a threat to bees, EU watchdog says
## Intelligence/propaganda/security/internet/cyberwar ##
Malicious virus shuttered U.S. power plant -DHS
"A computer virus attacked a turbine control system at a U.S. power company when a technician unknowingly inserted an infected USB computer drive into the network, keeping a plant off line for three weeks, according to a recent U.S. government report."
Dotcom to Unveil Megaupload Successor Amid U.S. Claims
"Kim Dotcom, whose Megaupload.com website accounted for 4 percent of world Internet traffic before being shut down last year on U.S. copyright infringement charges, plans to unveil a new, encrypted file-sharing site in New Zealand in a snub to U.S. authorities."
"Kim Dotcom, whose Megaupload.com website accounted for 4 percent of world Internet traffic before being shut down last year on U.S. copyright infringement charges, plans to unveil a new, encrypted file-sharing site in New Zealand in a snub to U.S. authorities."
The world's first cyberwar has started
"The USA threw some big rocks at Iran, which is now throwing some back"
"The USA threw some big rocks at Iran, which is now throwing some back"
5 Creepy New Ways for Police to Intrude on Your Rights
Government Pushes Propaganda Through Video Games
Government Pushes Propaganda Through Video Games
## Systemic breakdown ##
The Ehrlich Factor: A Brief History of the Fate of Humanity, With Dr. Paul R. Ehrlich
Gridlocked world: where are the world's worst traffic jams?
Gridlocked world: where are the world's worst traffic jams?
Winter in Russia: cold indoors as well as out
"Most radiators in urban Russian homes are fed by hot water transported from heating plants miles away. Aging pipes frequently burst, causing hardship and even fatalities."
## Japan ##
"Most radiators in urban Russian homes are fed by hot water transported from heating plants miles away. Aging pipes frequently burst, causing hardship and even fatalities."
## Japan ##
World Bank cuts Japan estimate due to isle row
"The World Bank announced it has slashed its economic growth forecast for Japan to 0.8 percent this year from an earlier estimate of 1.5 percent, due partly to the negative impact of Tokyo's territorial dispute with Beijing."
You Wanted Inflation, You Got It: Japanese Gasoline Price Rises To Eight Month High
"The World Bank announced it has slashed its economic growth forecast for Japan to 0.8 percent this year from an earlier estimate of 1.5 percent, due partly to the negative impact of Tokyo's territorial dispute with Beijing."
You Wanted Inflation, You Got It: Japanese Gasoline Price Rises To Eight Month High
Japan's Ethylene Output Down 8.1% In '12
"Domestic production of ethylene, a base material for petrochemical products, declined for a second straight year in 2012 amid soft global demand and an influx of low-cost imports."
"Domestic production of ethylene, a base material for petrochemical products, declined for a second straight year in 2012 amid soft global demand and an influx of low-cost imports."
Chipmaker Renesas to boost job-cut scheme
"Struggling Japanese chipmaker Renesas Electronics said Thursday it planned to widen an early retirement scheme as it scrambles to cut costs to shore up its bleeding balance sheet."
"Struggling Japanese chipmaker Renesas Electronics said Thursday it planned to widen an early retirement scheme as it scrambles to cut costs to shore up its bleeding balance sheet."
787 scare poses threat to suppliers
"The grounding of two Dreamliner fleets Wednesday not only dents the reputation of U.S. aviation giant Boeing Co. but also threatens to deal a blow to Japanese firms that make around a third of the aircraft, analysts said."
"The grounding of two Dreamliner fleets Wednesday not only dents the reputation of U.S. aviation giant Boeing Co. but also threatens to deal a blow to Japanese firms that make around a third of the aircraft, analysts said."
On second thought: IAEA re-categorizes the operational status for 47 of Japan's nuclear reactors
"In an unprecedented move, the International Atomic Energy Agency (IAEA) today retroactively re-categorized 47 Japanese nuclear reactors from 'in operation' to 'long-term shutdown' in its Power Reactor Information System. Thus, the global number of nuclear reactors listed as 'in operation' drops from 437 to 390, a number not seen since Chernobyl-year 1986, when 391 operating units were on the list. Without a doubt, the step is a unique revision of world operational nuclear data -- not to mention a solid recognition of the industrial reality in Japan."
"In an unprecedented move, the International Atomic Energy Agency (IAEA) today retroactively re-categorized 47 Japanese nuclear reactors from 'in operation' to 'long-term shutdown' in its Power Reactor Information System. Thus, the global number of nuclear reactors listed as 'in operation' drops from 437 to 390, a number not seen since Chernobyl-year 1986, when 391 operating units were on the list. Without a doubt, the step is a unique revision of world operational nuclear data -- not to mention a solid recognition of the industrial reality in Japan."
China revs up wind power amid challenges
"As the world's largest wind power market, China continues to push forward with wind power installations, yet it faces ongoing problems with grid connection."
"As the world's largest wind power market, China continues to push forward with wind power installations, yet it faces ongoing problems with grid connection."
## UK ##
300,000 face fuel poverty - Labour
"Thousands of people will be plunged into fuel poverty as the Government ends a state-funded energy efficiency programme, Labour has warned."
"Thousands of people will be plunged into fuel poverty as the Government ends a state-funded energy efficiency programme, Labour has warned."
Bed, shelter, home, refuge. Why children are taking a bus journey with no destination
"For vulnerable youngsters with no homes or parents to turn to, 'bussing' has become the preferred option to stay safe at night."
Blockbuster goes into administration
"For vulnerable youngsters with no homes or parents to turn to, 'bussing' has become the preferred option to stay safe at night."
Blockbuster goes into administration
"Clean coal" will be more costly than they think. -- RF
## US ##
## US ##
For Americans, 'Cope' Has Replaced 'Hope': NBC Poll
"The latest NBC News/Wall Street Journal poll shows that just 34 percent look at 2013 as a moment of economic expansion and opportunity; fully 60 percent call it a moment 'to hold back and save because harder times are ahead.'"
"The latest NBC News/Wall Street Journal poll shows that just 34 percent look at 2013 as a moment of economic expansion and opportunity; fully 60 percent call it a moment 'to hold back and save because harder times are ahead.'"
Washington really does hate retirees
"My brand-new video, 'Washington's War on Your Retirement,' is already generating a lot of controversy. I guess it's hard for some people to accept that their elected officials are a bunch of dirty crooks."
"My brand-new video, 'Washington's War on Your Retirement,' is already generating a lot of controversy. I guess it's hard for some people to accept that their elected officials are a bunch of dirty crooks."
Social Security Cliff in Sight; Retirees Will Outlive Trust Fund; Ramifications of Nonmarketable IOUs and Privatization
Oh, did I mention that you can forget about retirement? -- RF
Oh, did I mention that you can forget about retirement? -- RF
Seniors use credit cards as safety net
"Credit card debt among older U.S. adults is primarily used as a safety net, not a lack of personal financial responsibility, a survey indicates."
"Credit card debt among older U.S. adults is primarily used as a safety net, not a lack of personal financial responsibility, a survey indicates."
New ATMs Dispense $1 and $5 Bills
"Hundreds of new ATMs capable of dispensing as little as $1 are popping up across the country."
"Hundreds of new ATMs capable of dispensing as little as $1 are popping up across the country."
Bank of America and Citi reports are junk
"Sugarcoat it all you want. Let the analysts try to make sense of it. Buy the story you're being fed. The reality is, Bank of America Corp. and Citigroup Inc. turned in garbage reports parading as fourth-quarter earnings Thursday."
"Sugarcoat it all you want. Let the analysts try to make sense of it. Buy the story you're being fed. The reality is, Bank of America Corp. and Citigroup Inc. turned in garbage reports parading as fourth-quarter earnings Thursday."
