Tuesday, January 08, 2013


News Links, January 8-9, 2013

## Global Ponzi meltdown/House of Cards ##
US could default as early as next month
Bankruptcy Regime for Nations Urged
Spain looking at 14th bankruptcy
Eurozone Unemployment Hits Record High 11.8%; Spain 26.6%; Greece 26%; Youth Unemployment top 56% in Greece and Spain
Report predicts gloomy EU economy in 2013
More Central Bank Gimmicks Exposed As European Collateral Shortage Deteriorates
Dubai's Nakheel issues $33m sukuk as part of debt deal
Dubai sets up court to hear claims against Crown Prince's firm
Dh2.4bn construction of Louvre Abu Dhabi to 'start immediately'
Commentary: Why Peak Oil Threatens the International Monetary System (ASPO-USA)
Business as usual for container carriers as 2013 oozes in
"The container shipping industry remains plagued with overcapacity, high fuel prices and not enough demand to keep rates up."
2013 May Spawn a New Breed of "Zombie" Shipping Companies
Pharma Deals North of $10 Billion Seen Returning in 2013
Canada Oilsands Boom Bypassing Factory Workers: Economy
Spanish Sovereign Debt
"If you have any desire to buy Spanish sovereign debt for the delicious yield, a desire hyped by the carnival-barker pitch that the ECB will be printing as many Euros as necessary to assure 'stability', beat yourself viciously with a pool cue until the desire goes away."

## Airline Death Spiral ##
AeroSvit files for bankruptcy
Debt-ridden AeroSvit's aircraft detained at various airports
Govt steps in to rescue SAA from fuel shortage
"A report in today's Sunday Times confirms that South African Airways (SAA) is once again in a state of severe crisis. Thousands of passengers narrowly missed having their flights grounded this week when government stepped in to provide the national carrier with an emergency short-term loan to cover fuel costs for local and international flights."
LOT Polish Airlines to downsize
"Poland's LOT is the latest airline of the former Eastern Europe to run into financial difficulties. It means that LOT will cut staff numbers by 30 per cent and reduce the number of planes in its fleet from 40 to 25."
Future of air fares: More 'special' charges on the way
Lifespan of commercial aircraft shorter despite $US80m price tag
"COMMERCIAL aircraft are being broken up after surviving barely longer than a typical family car, despite their catalogue prices of as much as $US80 million ($76.3 million)."
United Airlines leaving Del Rio market next April
Cost overruns turn big worry for Navi Mumbai Airport project
"The proposed Navi Mumbai International Airport, touted to be one of the world's largest greenfield, state-of-the-art international airport, may turn into a white elephant, as passengers will bear the brunt of the cost overruns incurring a likely charge of Rs 4,000 per ticket as user development fee, or UDF, two persons associated with the project said."
Berlin Airport Opening Delayed Yet Again
What can make your low-cost flight costly
Singapore Airlines asks captains to take unpaid leave
"Singapore Airlines has asked its captains to volunteer for unpaid leave amid a global economic slowdown that has dented long-haul travel demand, the airline said Saturday."
Boeing 787 Dreamliner catches fire at Boston's Logan Airport
Should Boeing Ground The Dreamliner?
48 American workers at Alliance face January layoffs
Airlines face financing headwinds, says PwC study
"Air carriers around the world should brace themselves for potentially harder-to-get and more expensive financing to purchase aircraft, says a new report."
The science of filling seats: Airlines chart path to fuller planes

## Fault lines/flashpoints/powder kegs/military/war drums ##
Israeli Finance Minister Pushes US to Make Specific Threats of Iran Invasion
Afghan man in army uniform kills NATO soldier in Helmand
Some in Obama administration push for only a few thousand U.S. troops in Afghanistan after 2014
Israel to build 43-mile security fence in Golan Heights
Libya Crackdown Makes Benghazi Ghost Town as Police Fight Gunmen
U.S. gives unstable Lebanon 200 armored vehicles
Iraqi troops fire in air to disperse Sunni protesters
Spanish regions angry at "provocative" defense minister speech
"Two Spanish regions with strong independence movements reacted angrily on Monday to a speech by the country's defense minister that said the military was prepared and calm in the face of 'absurd provocations.'"
Russia to add 3 new anti-missile radars
"Russia will build three new Voronezh-class radar stations in 2013 in an effort to improve its missile defense capabilities, a military official said this week."
Libya's largest parliamentary group boycotts congress
Japan protests over China ships near disputed islands
Japan PM orders stronger surveillance near disputed isles
South Korea to speed up development of new missiles
"South Korea's new government is to hasten the development and deployment of missiles capable of striking targets anywhere in North Korea."
More Russian helicopters for India
Iran seizes Saudi fishing vessels: Fars news agency
African Union head seeks global coalition to intervene on Mali

## Global unrest/mob rule/angry people/torches and pitchforks ##
Protests against shortages (Kashmir)
Chinese Censorship Backfires As Supporters Gather At Southern Newspaper
Mass protests against government spread in Iraq
Protesters ready for long haul (Australia)
Thousands of Spaniards protest health privatization
Protesters Storm TransCanada's Corporate Office (US)
Daily-paid protest over late payment of wages

## Energy/resources ##
China blazes trail for 'clean' nuclear power from thorium
Come on, Ambrose. There's no such thing as "cheap, clean" energy. I'm sick of hearing it. Now thorium is the next big thing. Soon advocates be telling us that the electricity will be "too cheap to meter" (where have I heard that before?). And then we'll find out what the true cost is. Meanwhile, the global economy continues to collapse. Have a nice day! -- RF
Strict Power Saving Measures Come Into Effect Monday (SKorea)
Fusion Energy's Dreamers, Hucksters, and Loons
Russian ESPO Pipeline Threatens Europe Oil Supplies
Brazil's once-envied energy matrix a victim of "hubris"
"Today, the outlook is much darker. Oil output is falling, ethanol production has plunged, and fears have recently returned of electricity rationing that could further depress a stagnant economy and embarrass President Dilma Rousseff."
The analysis only sees part of the picture. Overall, the global energy system is beginning to fail, and is dragging Brazil down with it. Resistance is futile. -- RF
Hot, dry weather leaves Brazil at risk of energy rationing
Brazil energy crisis could wreck Rousseff's economic agenda
Brazil seen paying high price for emergency natural gas imports
Crisis Continues in Power & Energy Sectors (Bangladesh)
Power crisis darkens outlook for Egypt
Zambian Miners Asked To Use Power Sparingly
Taiwan not in danger of blackout: economics minister
Platform-free oil in Arctic waters within striking distance
Great Plains wind farms limited by grid links
Oman to double nat gas prices for some industrial users by 2015
South Korea to expand nuclear energy despite growing safety fears
Turkey turns to coal to loosen Iran, Russia gas reliance
Solar industry outlook still bleak despite recent rally
Iraq December crude oil exports fell 272,000 b/d from November: SOMO
Asian oil companies make record buys in 2012
Colombia Rebels Bomb Cano Limon Oil Pipeline; Pumping Halted
Outlook for Oil Field Services Decidedly Mixed

## Infrastructure scavenging ##
Thieves steal $300,000 in wiring from movie set
Copper Thieves Strike Area Cable TV,Telephone, Internet Company
Hanging Out with Chicago's Scrap Metal Collectors
Gangs of thieves target RTE towers for scrap metal

## Got food? ##
Bulk Chinese purchase creates baby food shortage in Australia
"Australia has been hit by a scarcity of its biggest selling infant food, Karicare Aptamil Gold, which Chinese customers are buying in bulk to ship home, due to rising fears fears over the safety of infant foods."
How U.S. Biofuel Policy Is Destroying Guatemala's Food Supply
The Global Food Economy: Peak Food, Social Unrest, And Bailed-Out Credit-Junkies
Kansas drought isn't easing up; forecasters optimistic for later in the year
Syria crisis: Food aid 'cannot reach a million people'

## Lifestyle Solutions ##
Enough: the Central Concept in Economics (Herman Daly)

## Environment/health ##
Torrential rain, snow storms and flooding hit the Middle East
Australia braces for "catastrophic" wildfire day
Wolf attacks lead to state of emergency in Russia's Siberia region
"Yegor Borisov, head of the Sakha Republic, a vast and sparsely populated region of eastern Siberia, has called for an urgent cull of wolves after the predators swamped populated areas in a search for food."
23 more die from cold wave in North; death toll reaches 155 in UP
Germany's Nuke Plants Closed, but - Where to Store their Waste?
'Horrible' sea level rise of more than 3 feet plausible by 2100, experts say
Biofuels cause pollution, not as green as thought - study
New Doubt Cast on Link Between Global Warming and Increased Drought
New climate change projections surpass previous estimates and threaten 187 million
In war against cancer, progress is in the eye of the beholder
"The improvements reflect such lifestyle changes as not smoking more than they do the billions of dollars spent to discover and implement advanced cancer treatments."
The Real Reason the Natural Gas Industry Hates Matt Damon's New Movie
Natural Disasters Cost the World $160 Billion in 2012
Oil sands development polluting Alberta lakes: study
"Oil-sands development is polluting nearby remote Alberta lakes with rising levels of a toxic carcinogen, refuting long-standing claims that waterway pollution in the region is largely naturally occurring, a study has found."
Cancer-linked chemicals found worldwide

## Intelligence/propaganda/security/internet/cyberwar ##
Nations prepare for cyber war
Online tax filing popular with taxpayers – and thieves
Google Stops Informing Chinese Users About Disruptive Searches
How a Large U.S. Navy UAV Crashed in Maryland, From 18,000 Feet
Experts say social media can put defense systems at risk (Japan)
America Is Being Systematically Transformed Into A Totalitarian Society
Smartphone cyberattacks to grow this year
NYSE Server Failure Interrupts Market Data

## Systemic breakdown ##
Large Cities All Over America Are Degenerating Into Gang-Infested War Zones
With 'Deals' Like Fiscal Cliff, Who Needs Societal Collapse?
Pack of stray dogs kills three adults and one baby in Mexico
Why Is Amsterdam Planning to House People in Shipping Containers?
"Amsterdam's liberal municipal government has created what appears to be a most illiberal plan for dealing with individuals with "antisocial behavior," with those who have harassed and bullied immigrants, gays and others. Under a new £810,000 scheme proposed by mayor Eberhard van der Laan, they will be housed in converted shipping containers located around the city, in heavily policed areas."
Income Inequality, Government Debt Are Biggest Risks for 2013

## Japan ##
Japan mulls over 5 tril. yen new debt issue for extra budget
"The government is considering issuing new debt worth more than 5 trillion yen ($57 billion) to secure  funds for an extra budget to stimulate Japan's struggling economy, sources close to the matter said Monday."
Economic stimulus plans include Y450 bil for business support
Size of extra budget may test ¥12 trillion
"The economy-boosting extra budget being formulated for fiscal 2012 may be worth around ¥12 trillion — including more than ¥4 trillion for public works projects, sources said Monday."
¥4 trillion for public works projects? That wouldn't even be enough to repair what's crumbling already. -- RF
Japan to boost defense budget by more than Y100 bil
Kirin to sell head office buildings
Economic revival HQ launched by Abe
Japan's monetary base leaps 11.8% in Dec.
4 Chinese ships enter Japan's territorial waters near Senkakus
Japan to revise defense policy by end 2013: paper
Japan May Or May Not Mint Quadrillion Yen Coins, But It Will Monetize European Debt
Gold lures Japan's Pension funds as Abe targets inflation
"Japanese pension funds, the world's second-largest pool of retirement assets after the U.S., will more than double their gold holdings in the next two years as the new government pushes for a higher inflation target, according to an adviser to the funds."
Fitch: Japan's risks rise along with its debt levels
Ministry questions decontamination contractors; workers express hopelessness

## China ##
Beijing tap water expert says she wouldn't touch the stuff
China Growth Can Beat 8% for 20 Years on Reform, Lin Says
"China's economy has the potential to grow 8 percent annually over the next 20 years should the nation reduce support for state companies and unshackle banks, according to Lin Yifu, a former World Bank chief economist."
Hong Kong real estate investors pursue parking spaces
"Single slots are now selling for more than some modest Southern California homes."
Foot-and-mouth disease confirmed in Sichuan
China mainland could be target for extremists in 2013: Foreign Policy
China is experiencing its coldest winter in decades
Dealers Report "Very Strong" Gold Demand from China

## UK ##
Sterling crisis looms as UK current account deficit balloons
Fuel Poverty Worsens in the UK
Fuel poverty map figures for Keighley district 'shocking'
British group pans wind farm compensation
Benefit cuts 'will see more children taken into care'
U.K. Committee Urges More Aggressive Action on Cyber Security

## US ##
Secrets and Lies of the Bailout
"The federal rescue of Wall Street didn't fix the economy – it created a permanent bailout state based on a Ponzi-like confidence scheme. And the worst may be yet to come"
US starts to ban bottled water
Forget discouraged, 3 million workers hopelessly unemployed
The fastest growing economy in the world is the underground economy, and it has no doubt claimed a good number of people counted among the "hopelessly unemployed." -- RF
Defense Budget Cuts of $45 Billion Seen by Pentagon
Entire DOD workforce faces furlough threat
Startling Look at Employment Demographics by Age Group: Spotlight on Age 25-54
Chart of the Day: Inflation Since the American Revolution
Why More Americans Will Fall Behind on Credit Card Bills This Year
Disney looks for cost savings, ponders layoffs - sources
Tax-Favored Municipal Bonds May Be Swept Into Deficit Reduction Ideas
Muni Cap May Force $150 Billion in Calls, Citigroup Says
Bank of America to sell service rights on $100 billion of mortgages
"Bank of America Corp is looking to sell collection rights on at least another $100 billion of mortgages after announcing similar deals for more than $300 billion on Monday, according to two sources familiar with the situation."
Where You Might Not Shop In 2013
US Mint Sells Massive 3.9 Million Ounces Of Silver Coins In First Few Days Of 2013, Triple December's Total
The Trends to Watch in 2013
2013: Beginning of Long-Term Recession?
When They Come For Your Guns, You Will Turn Them Over
Cheap Money Era That Saved U.S. Housing Seen Bottoming
Big Banks Systematically Hiding Potential Losses: Report
U.S. Consumer Debt Rises on More Car, School Loans
Fair Share of Disappointments Ahead as Earnings Season Kicks Off
The Seven States Least Prepared for Disaster

And finally…
Gamers hired by father to 'kill' son in online games (China)
Identity Thief Forgets to Change Shipping Address, Sends Victims His Loot (US)

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