Thursday, January 24, 2013

 

News Links, January 24-25, 2013

## Global Ponzi meltdown/House of Cards ##
IMF: Global economic recovery 'weakening'
Oldest Bank In The World Plunges, Halted As Chairman Resigns In Aftermath Of Latest Derivatives Fiasco
South Korea's growth rate hits three-year low
Barclays Said to Plan 15% Job Cuts at Asian Investment Bank
Commerzbank to Cut 4,000-6,000 Jobs by 2016 to Meet Profi
Spain's Jobless Rate Hits Record as Debt Woes Ease
Withdrawn: $114 Billion From Big U.S. Banks
"More than $114 billion exited the biggest U.S. banks this month, and nobody's quite sure why."
Racing To The Revolution: Spain Vs Greek Youth Unemployment
Companies are sourcing closer to home
"The survey shows that globalization may be moving toward a tipping point, belying the conventional wisdom that it would allow companies to economically produce anything, anywhere for sale everywhere."
Spain's Catalonia misses 2012 public deficit target
Bank of America issues `bond crash' alert on Fed tightening fears

## Airline Death Spiral ##
The World's 10 Most Dangerous Airlines
Qantas to cut jobs after contract loss
Ukraine's Largest Airline Flies into Bankruptcy
Europe's largest regional airline Flybe to cut 300 jobs in bid to turn around UK business
Air India gears up to counter pilots' strike
Airlines notched a strong year in 2012
"Industry analysts say that 2012 will be the third consecutive year for profits across most of the industry -- a year in which fare prices rose 4 percent and the industry continued to reap huge benefits from new fees for passenger amenities."
Boeing 787 probe far from complete: U.S. regulators
Whistleblower Says Dreamliner Batteries Could 'Explode'

## Fault lines/flashpoints/powder kegs/military/war drums ##
Can Israel Live With A Nuclear Iran?
Can Iran live with a massively nuclear-armed Israel? -- RF
Algeria Attack No Outlier as Oil Targeted 3 Times a Week: Energy
"While the attack in Algeria that killed at least 38 hostages was the deadliest raid on the oil industry in five years, it's far from unprecedented. From Colombia to Yemen, oil workers have suffered violence for decades as militants strike an industry seen symbolizing political and economic power."
The Coming Oil War in Iraq: Part II
The Coming Imperial Implosion in the Arab World
Palestinians say they may have no choice but to take Israel to Hague court
US alarm bells over Cameron's EU speech
North Korea to target U.S. with nuclear, rocket tests
"North Korea said on Thursday it would carry out further rocket launches and a nuclear test that would target the United States, dramatically stepping up its threats against a country it called its 'sworn enemy'."
Kirkuk Poised for Conflict, BP Enters Fray
Japan Expels Taiwan Boat From Disputed Area With Water Cannons
Chinese fishing boat detained in Japanese waters
U.N. to consider validity of China's claim over disputed islands
Kyrgyzstan & Uzbekistan: Border Quarrel Poses Political Test for Karimov
China, Russia, U.S. raise Mediterranean naval focus
"Egypt has seen no shortage of empires come and go, from its own ancient civilizations to those of Greece, Rome, Britain and France. Now, it is among the outposts of the latest Mediterranean power: China."
Baghdad oil disputes with Kurds deepen
US, West Chasing Non-Threats in Africa

## Global unrest/mob rule/angry people/torches and pitchforks ##
Two killed, 256 arrested in violent South Africa protest
Taxi Drivers Threaten Strike Over Blocked Subsidies (SKorea)
Rioters burn cars in Azerbaijan, several people hurt
Greek subway workers told: end strike or face arrest
NUT: national teachers' strike in the summer 'inevitable' (UK)
Jordan unrest brews despite pro-king poll

## Energy/resources ##
Why Shale Oil is not the Game Changer we Have Been Led to Believe - Part 2 (Chris Martenson)
As the author points out, even though oil prices have nearly tripled, and even though capital spending has increased 100%, oil production is still stuck on a plateau. Where's the gushers of oil produced by amazing new technologies? -- RF
US 'shale boost' provokes EU fears and indecision
Apparently Europeans are unaware that many shale oil and gas operations are losing money. -- RF
U.S. rig count for oil and gas and future economic growth (Kjell Aleklett)
Expensive Loans Dim The Prospects For Renewable Energy In India
"Peak Oil" Impacting Norwegian and Saudi 2013 Production?
German Power Grids Ask Gas-Fired Plants to Ensure Winter Supply
"German power-grid operators Tennet TSO GmbH and TransnetBW GmbH asked four gas-fired plants in the south of the country to secure transport capacity for the fuel to avoid production outages that almost led to a collapse of the electricity grid in February last year."
Urban Zimbabweans are already grappling with water shortages
Venezuela oil deals: Poor nations worry about future
Eight trains suspended over fuel shortage (Pakistan)
Legislators grapple with 'scary thought' of Cook Inlet gas shortage (US)
PetroBakken Energy 2013 Outlook
"Just a few weeks into 2013 and Petrobakken's stock has lost more than 9% so far. This makes it the top losing stock in the dividend paying intermediate category - and January is not over yet. The company did not miss its exit guidance for 2012 to deserve this punishment but its 2013 guidance came in below expectations. The reality of high decline rates is now at the forefront, the average production rate for December 2012 won't be showing up any-time soon in 2013."
France orders special forces to protect Niger uranium-source
"France has ordered special forces to protect uranium sites run by state-owned Areva in Niger as the threat of attacks on its interests rises after its intervention against rebels in Mali, a military source said on Thursday."
China's new fishing boats threaten Japanese fishing industry
Electricity blackout hits 10,000 city homes (Australia)

## Infrastructure scavenging ##
Thieves cause blackout on St. Croix
"Thieves on St. Croix shorted out a segment of the island's power distribution system Monday and made off with more than 1,000 feet of copper wire."

## Got food? ##
Group Finds More Fake Ingredients in Popular Foods (US)
Salmon steak from GM fish could soon be on your plate
Flour shortage growing despite stocks of 4.5m metric tonnes of wheat (Pakistan)
Possible chicken wing shortage looms ahead of Super Bowl (US)
"The National Chicken Council released a report that said the demand for wings this year is at 'an all-time high' due to decreased wing production caused by the high cost of corn and feed prices."
Trade fears after unwanted chemicals found in milk (New Zealand)
Keeping Bees Using the Top-bar Beekeeping Method
U.S. drought expands in top wheat-growing state of Kansas

## Environment/health ##
Massive Growth in Wastewater from Fracking Industry
"The amount of wastewater from natural gas production in the Marcellus shale region has increased by about 570 percent since 2004 as a result of increased shale gas production there. The scale of fracking operations in the region is so vast that the wastewater it produces threatens to overwhelm the region's disposal capacity, according to new analysis by researchers at Duke and Kent State universities."
Andean glaciers melting at "unprecedented" rates: study
Costa Rica declares national emergency to tackle coffee fungus
Energy Drinks Blamed For Boost In Emergency Room Visits
In crisis, Greeks turn to wood-burning — and choke
Restoring the Commons
Deforestation appears to rise again in Brazil's Amazon
Low Energy Light Bulbs Not So "Green" After All?

## Intelligence/propaganda/security/internet/cyberwar ##
Feds: 3 Nabbed for Widespread Gozi Computer Virus
Cyber War: A One-Sided Battle Against A Trumped Up Enemy
Cyber War is Upon Us–But Only One Side is Attacking
"Is a cyberwar really a war if only one side is fighting? The United States hit Iran's nuclear program with Stuxnet and followed up with Flame, the James Bond of spyware. But Iran's response is the equivalent of a few shots from a Nerf gun, according to CIO.com blogger Constantine von Hoffman."

## Systemic breakdown ##
In Lower Manhattan, Sandy Still Keeping Businesses Dark
The Unintended Consequence of Green Cars

## Japan ##
Japan faces nuclear shutdown for second time since Fukushima
"Japan may face a total nuclear shutdown in the summer for the second time since the March 2011 Fukushima disaster as the country's two operating reactors close for maintenance and tough new safety checks keep the rest of the fleet offline."
Japan trade deficit in 2012 hits record
Japan's Metal Smelters See 12 Billion Yen Cost Rise on Power
Reactors must be terror-proof as well as quake-proof: regulator
ASDF jets scrambled 160 times against China planes between April, December
Japan stuck in deflation, December data show

## China ##
Shippers Tell Different Story on Chinese Exports
"Many in the shipping industry see a sluggish year ahead for Chinese exports, a cornerstone of the world's No. 2 economy, despite other indications of growing demand for China's products."
What Really Goes On In China
China to become major consumer of Iraqi oil

## UK ##
Rural Wales 'perfect storm' will lead to rising homelessness
Antibiotic 'apocalypse' warning
"The rise in drug resistant infections is comparable to the threat of global warming, according to the chief medical officer for England."

## US ##
High Frequency Trading: Clear and Present Danger?
Firms Keep Stockpiles of 'Foreign' Cash in U.S.
"Some companies, including Internet giant Google Inc., software maker Microsoft Corp. and data-storage specialist EMC Corp., keep more than three-quarters of the cash owned by their foreign subsidiaries at U.S. banks, held in U.S. dollars or parked in U.S. government and corporate securities, according to people familiar with the companies' cash positions."
Cattle rustling comeback: Thieves steal 27 calves from Mo. ranch
Report: New vets showing Gulf War illness symptoms
Retail has third off week
A Rally Built Atop Surprises, Mostly Bad
2012 Freight Thefts Remain Near 2011's Record High
"While electronics were one of the biggest types of cargo theft just a few years ago, accounting for nearly 1 out of 3 in 2007, the percentage of them last year dropped to a new low of just 12% of all cargo thefts. Seemingly replacing it, at least the past three years, has been a rise in the number of meat thefts, due to the rise in the price of corn."
East Providence to turn off 1,000 streetlights
"The city of East Providence is turning off more than 1,000 streetlights to save money."
Cold boosts NY gas to 5-yr high, 9-yr high hit early
US cold snap torments those still without heat after Sandy
Year-round businesses struggle to survive after Sandy
Joseph Stiglitz attacks US 'inequality'
"The richest 1% of Americans now hold 25% of the country's wealth and more needs to be done to boost equality, Nobel Prize winning US economist Joseph Stiglitz has said."
Joe, I hate to be the one to tell you this, but that's the way the system is set up. -- RF
Fed's Bond Buying Pushes Assets to Record $3 Trillion
It's Official: Worst. Recovery. EVER
New Credit Card 'Checkout Fee' Arrives This Weekend
Crude Oil Supply Rises, Prices Follow

And finally…
The Business Cards Of The Rich, Famous, And Infamous




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