Tuesday, February 12, 2013


News Links, February 12, 2013

## Global Ponzi meltdown/House of Cards ##
Asian Currencies Tumble. Yes, This Is A Global Currency War.
Global currency war could get nastier, warns Brazil's Mantega
As Egypt Runs Out Of Dollars, Is It Next On The Devaluation Bandwagon?
India Car Sales Set to Fall This Fiscal Year
"India's car sales in this fiscal year are set to fall for the first time in a decade as a sharp economic slowdown, high loan rates and rising fuel prices take a toll on what was one of the most-promising markets for automobiles worldwide."
Economy recovery hopes dashed as industrial output unexpectedly shrinks
"India's industrial production unexpectedly shrank for a second straight month in December, weighed down by weak investment and consumer demand, casting doubt on Finance Minister P. Chidambaram's view that Asia's-third largest economy is showing signs of recovery."
Ron Paul: "6,000 Years of History, Gold Is Always Money, Paper Money Fails"
Cyprus "Radical Rescue" Proposal Proves Greece Not Unique; Sovereign Haircuts Detailed in "Secret" EU Plans; Russian Connection
Accounting Risk Clouds Big US Business Bets in China
EU Crisis Damage Seen in Worst Quarter Since Lehman Wake
"Euro-area economic data due this week will probably show the damage inflicted by the region's sovereign debt crisis with the worst quarterly decline in output for almost four years."
Asia's city-states face future of slower growth
"Singapore and Hong Kong are being forced to come to terms with slowing growth. For decades, the city-states have been among Asia's economic hot spots. But continued expansion will be restrained by popular discontent about crowding and rising property costs. A more pedestrian future awaits."
Poll: 60% of Canadians plan to save this year, but many will fail
Dubai will push on with grand plans - ruler
"Sheikh Mohammed bin Rashid Al Maktoum, Prime Minister of the UAE and ruler of Dubai, said the emirate will 'carry on' launching new mega projects and that taking risks is necessary to reach its 'ultimate goal'."
Barclays to Cut 3,700 Jobs After Full-Year Loss

## Airline Death Spiral ##
ACI: 'Alarming' drop in traffic growth at EU airports in 2012
"Traffic growth at European airports saw an 'alarming decline' in 2012, according to the Airports Council International Europe (ACI Europe). It said the year saw a 'progressive slowdown' in passenger traffic and 'continued recession' in the freight sector."
Finnair's next CEO must find partners to keep carrier aloft
Airlines fly into a rage as Heathrow warns charges must climb steeply
Dozens of airline fees rose or changed in 2012, study finds
SA Express pressured by rising fuel price
Airplane Tickets: Indian Government Working on Proposal to Cap Lowest and Highest Air Fares
Southwest Airlines' days as the industry maverick are numbered
Troubling airline developments
Airship Makers Float New Craft to Erase Hindenburg Blot: Freight

## Fault lines/flashpoints/powder kegs/military/war drums ##
Khamenei plays hardball with Obama
"The shift in Syria has actually enabled Iran to cross over the Sunni-Shi'ite barriers that were tenaciously put up to isolate it. Thus, President Mahmud Ahmedinejad's historic visit to Egypt this week has a much bigger regional dimension to it than the restoration of the Iran-Egypt bilateral relationship. The trilateral meeting held between Ahmedinejad and his Egyptian and Turkish counterparts Mohammed Morsi and Abdullah Gul signified Iran's compelling relevance as an interlocutor rather than as an implacable adversary for the two major Sunni countries."
Talks on Bahrain crisis begin
Egypt-U.S. war games to go on as scheduled
Despite sanctions, U.S. aid to Afghanistan might also be helping Iran
Israel gives final approval for 90 new settler homes
Israel Setting Stage for More Attacks on Syria
Attacks kill 12 in Iraq's Mosul: sources
Japan plans to donate patrol boats to Manila
"Japan plans to donate patrol boats costing $11 million each to the Philippines, ramping up regional efforts to monitor China's maritime activity in disputed waters, according to a newspaper."
Chinese vessels spotted near Senkakus for the first time since radar-lock incident
Japan and US troops conduct isle recapturing exercises in California
China to take over strategically located Pakistani port
Asia-Pacific military exercise kicks off in northern Thailand
"A large-scale military training exercise began Monday in northern Thailand involving 13,000 personnel from the United States and six Asian countries — Japan, South Korea, Indonesia, Malaysia, Singapore and the host nation."
Obama's Kill List Comes to Northern Africa
North Korea confirms third nuclear test

## Global unrest/mob rule/angry people/torches and pitchforks ##
3 dead in Indian Kashmir protests after man hanged
POSCO war zone - Protests and sand but no steel

## Energy/resources ##
Tanker Rates Falling, Profits Disappear
German minister dashes hopes for shale gas fracking
Finland's Olkiluoto 3 reactor seen delayed to 2016
Attack closes Yemeni oil pipeline
Gazprom: 2030 before Shtokman producing
Chinese coal cuts to affect Australia
Frozen frontiers for oil and gas explorations
Shell Ships Alaska Drilling Rigs To Asia For Repairs
"Putting their 2013 Arctic drilling plans into doubt, Royal Dutch Shell announced Monday that it will tow its purpose-built drilling rigs from Alaska to Asia for major repairs."
Why have GDP Growth and Energy Growth Separated?
If Oil Production is Growing Why are Pump Prices not Falling?
"It's obvious from the above price charts that it makes no economic sense to add gallons of ethane or propane to gallons of crude oil to try to summarize global oil supply. But growth of natural gas liquids has been a key factor in the reported increases in 'world oil supply' over the last few years and is also a key component of recent optimistic assessments of future oil production by Leonardo Maugeri and the IEA."
Fake Or Not, New York Times' Tesla Review Speaks Truth About Electric Cars

## Infrastructure scavenging ##
Scavengers Stripping Greece of Metals
"Greeks and foreigners desperate for money are dismantling bridges, highways and rail transit systems that required billions of euros in European Union subsidies to build, tearing off metal for scrap to sell, much if it going to China and India."
Theft of valuable metal a growing problem in Utah
$175,000 sculpture ruined by metal thieves

## Got food? ##
Report shows little progress to avert food shortage
Food shortages in Zambia
Troubling Honey Bee Shortage in California Almond Orchards
US Meat Industry Might Shut Down for Two Weeks

## Lifestyle Solutions ##
The Never-Ending Smartphone Checking Cycle
This Is What Fashion Will Look Like In Five Years
These are the usual predictions. But for many people in the world, "fashion" has been whatever they could find to wrap on their bodies. And in another five years, that number will grow exponentially. -- RF
Artisan Home Distilling

## Environment/health ##
Obscure Chagas' Disease Takes Costly Toll
Pig Manure Reveals More Reason To Worry About Antibiotics

## Intelligence/propaganda/security/internet/cyberwar ##
Software that tracks people on social media created by defence firm
"A video obtained by the Guardian reveals how an 'extreme-scale analytics' system created by Raytheon, the world's fifth largest defence contractor, can gather vast amounts of information about people from websites including Facebook, Twitter and Foursquare."
Dem Rep: 2016 Pres Candidate Will Have 'Powerful' Database That Has 'Everything On Everyone'
The Threat of Silence
"Meet the groundbreaking new encryption app set to revolutionize privacy and freak out the feds."
Your Password Isn't Enough to Keep Your Info Secure on the Internet – So What's a Person to Do?
Webcam and CCTV security flaw shows us to prying eyes
Hacking said major threat to U.S. economy
Homeland Security Approves Seizure of Cell Phones and Laptops within 100 Miles of Border; Report Remains Secret
Norway preparing for cyber war
Why Americans Are Saying No to Domestic Drones
"States and cities are increasingly passing legislation to stop the use of surveillance drones."
Obama may issue order Wednesday on defense against cyber attacks -sources
Another FBI Patsy Arrested in Fake Bomb Plot to Start a Civil War
Domestic terrorism becoming a greater concern for Canadian spy agency

## Systemic breakdown ##
Patrol ships stop operations due to soaring fuel prices
"Indonesia's inability to curb to illegal fishing should come as no surprise, with water patrol units finding it increasingly difficult to operate due to skyrocketing fuel costs… Most patrol ships in Indonesia - including those in Yogyakarta - have stopped operating as Polair offices across the country are no longer able to bear fuel costs for their patrol operations."
High fuel cost will also curtail anti-piracy patrols. It's just a matter of time now. The pirates are waiting. -- RF
The Mystery of the Incredible Shrinking American Worker

## Japan ##
Sales, profits dip for McDonald's Japan
Net banking scams seen on the rise
Gov't needs to determine early whether to resume reactors
4 cars torched in Fukuoka condo parking lot
Japan's Nikkei sprints ahead on Abe fever
Tepco Buys 15 Percent More Fuel Oil as Reactors Remain Shut

## China ##
Internet Users Have Just One Word for 'Father' of Great Firewall
Here is why Chinese official economic figures can't be trusted
China's patience with North Korea wearing thin

## UK ##
Infrastructure plan falls flat as just seven out of 576 projects are completed
'Miserly' social care will benefit one pensioner in five
National Audit Office warns UK needs more cyber skills

## US ##
All cash buying hits a record in 2012: Parts of Florida see investors buying up 70 percent of all home sales. California all cash buying hit a record in 2012 at over 32 percent of sales.
Households On Foodstamps Rise To New Record
Biggest Bubbles in History-Stocks, Bonds, Dollar-Paul Craig Roberts
Venezuela Donates Free Heating Oil to 100k Needy US Households
Another Drought in 2013 could Devastate the US Ethanol Industry
Goverment Employment and the Next Threat to the Economy

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