Thursday, February 28, 2013


News Links, February 28-March 1, 2013

## Global Ponzi meltdown/House of Cards ##
Rob McEwen Looks For Gold To Keep Rising As Nations Run Up Debt Levels
Australian Government to Seize Cash from Inactive Bank Accounts
France Unemployment Highest Since 1997
Argentina Says It Won't Voluntarily Comply With Bond Ruling
Bond Cliff Looms With Slowest Sales Since 2008: Credit Markets
Bill Gross: Brace for lower returns
Canada Losing Debt Halo as Property Peaks Under Carney
Bankia turns in record loss of 19.2bn euros for 20112
Portugal needs to push permanent spending cuts: PM
In Depressed Spain, ATMs That Dispense Free Cash
Spain recession deeper than thought
"Spain's National Statistics Office says the country's recession is worse than previously thought with the economy shrinking by 0.8 percent in the fourth quarter of 2012 compared with the previous three-month period."
$50 trillion in debt? How far can we go?
India Seeks to Curb Deficit as Spending on Poor Climbs
India to tax rich, luxury cars
GDP Report: U.S. Economy Grew at 0.1% Rate in Fourth Quarter
U.S. cuts likely to hit global economy
NZ Growing trade deficit
'Ungovernable' Italy: Debt crisis back on table

## Airline Death Spiral ##
US airlines deliver a 0.1% profit margin as government-induced havoc looms
"US airlines moved closer to the razor's edge during 2012 after collectively recording a profit margin of 0.1%. While the 10 largest airlines in the country may be commended for sustaining a three-year profit streak amidst record high fuel prices, they could find it tough to find creative ways to continue to achieve profitability as the potential to tap ancillary revenues reaches its peak."
FAA Chief: 'Great Deal of Testing' Needed Before 787 Flies Again
British Airways to offer 'hand luggage only' fares
Beijing proposes world's largest airport
"Beijing is planning to build a new airport with an annual traveler capacity of 100 million people. The new airport will become the world's largest airport hub, larger than the current Beijing Capital International Airport."
United fliers can sail through airports -- for $9
No Aviation Fuel At Airport (Ghana)
Flights skip fueling at Chennai as jet fuel is expensive
Air rage reaches boiling point
Will fares rise on American/US Airways? Bet on it!
Lawmakers worry hub airports might lose in American-US Airways merger
American Airlines drops below 60,000 employees for the first time since 1987

## Fault lines/flashpoints/powder kegs/military/war drums ##
Mexico estimates 26,000 missing since 2006
Iran hails 'turning point' as world powers make key nuclear concessions
The sanctions are failing and the US et al. are looking for a face-saving out. -- RF
Kerry says Syrian opposition needs more help
President Zardari to leave for Iran Wednesday (Pakistan)
US Concedes Claims of Taliban Attack Decrease Were False
Israel, Turkey row over Zionism deepens rift between ex-allies
Senators Push Resolution Committing US to Aid Israel in Attack on Iran
Israel Preps Troops for 'Escalation' in West Bank Protests
Japan scrambles fighter jets to meet Chinese plane
Chinese boats harass Japanese fishing vessels near Senkakus
Thailand agrees to talks with southern Muslim rebels

## Global unrest/mob rule/angry people/torches and pitchforks ##
Guinea security forces clash with protesters
Bulgaria president calls May election after protests
Bangladesh Islamist's death sentence sparks deadly riots
13 Occupy Protesters Arrested In Minneapolis Protest

## Energy/resources ##
Venezuelan authorities report blackout in 10 states
Thailand braces for blackouts
Thailand factories urged to cut power use
Junk oil: Oil Sands Mining Uses Up Almost as Much Energy as It Produces
The End of the Shale Bubble?
Is the Keystone XL pipeline worth it?
Land usable for biofuel said overestimated
"Land suitable for cultivating biofuel crops has been vastly overestimated, European researchers say, and they have reduced the estimate by almost 80 percent."
Petrol and diesel: Fuel shortage hits the Gambia
"A crippling fuel shortage has hit the tiny West African State of The Gambia since Monday forcing up the prices of petrol and diesel. The price of petrol has increased from 50 delasis to 65 delasis, about US$2 dollars, per litre while diesel is selling at 50 delasis, about US$1.50, from 48 delasis."
Power shortage looms anew in Mindanao (Philippines)
India suffered 9 pc peak power shortage during 2007-12: Economic Survey
India Survey: Power Shortage May Worsen
Slowdown in India's power sector amid coal, gas supply crunch
Alaska running on empty
"It gets pretty serious and it gets serious in a hurry."
Russia close to landmark oil and gas deals with China
Bulgaria parliament readies power price cuts to soothe anger
Possible electricity price cut in Bulgaria to be of less than 8%: expert
France Unveils Measures to Decrease Energy Use
British envoy calls for action against Jewish settlements
"Britain's envoy to east Jerusalem has joined an unprecedented European call    for sanctions against Jewish settlements amid deepening gloom over the prospects for peace between Israel and the Palestinians."
Brazil Wind-Farm Rule on Power Cables May Scuttle Some Projects
Brazil Wind Companies May Boost Prices 20% to Comply With Rules
Are Banks Backing Away From Solar Projects?
Europe's offshore wind facing 50 bln euro shortfall -study
French wind power spun into knots
U.S. Air Force Report to Congress Bashes Navy's Biofuels Program
Oil industry outlook bright as EIA, OPEC raise global demand
First Solar Fallout Deals Crushing Blow to Speculative Solar Sector
Replacing Coal With Trees Won't Scale
How good was the Australian peak oil report BITRE 117
Plagued by problems, Shell pulls out of Arctic drilling – for now
U.S. Barnett shale to pump natural gas to 2050 - report
Eni eyes Vietnam's unconventional reserves
Iran's oil output faces long-term decline
The Mafia is Moving into Renewable Energy
Two Workers Killed at EDF Nuclear Plant in East of France
Fracking Hell? How Poland's dash for gas turned sour

## Got food? ##
Architect: Vertical farm in San Diego would revolutionize U.S. produce consumption
Don't count on this for your food supply. -- RF
Russia finds horsemeat in sausages from Austria
Buffalo, donkey, goat found in S. Africa 'beef'
Rice paddies synergise with fish farming
Giant Food Corporations Work Hand-In-Glove With Corrupt Government Agencies To Dish Up Cheap, Unhealthy Food
What Warren Buffett is Signaling about the Economy
Short answer: higher food prices. -- RF
Argentine soybean yield goes below budget
59% of the 'Tuna' Americans Eat Is Not Tuna
"If you've ever wondered why the sushi in the display case is so affordable, given the dire state of the world's tuna supply, well, now you know."
8 Great Tips For Finding FREE Compost Materials
Disease - a dire threat to NZ agriculture
New Zealand drought - collapse of NZ agriculture?
Egypt bakers threaten strike over rising costs
Food items shrink -- but prices don't

## Environment/health ##
Famed giant Pacific leatherback turtle faces extinction in 20 years
Drought-starved habitat, snow hit Kansas wildlife hard

## Intelligence/propaganda/security/internet/cyberwar ##
NATO, European governments, hit by "MiniDuke" cyber attack
"Hackers targeted dozens of computer systems at government agencies across Europe through a flaw in Adobe Systems Inc's software, security researchers said on Wednesday, while NATO said it too had been attacked."
Researchers say Stuxnet was deployed against Iran in 2007
Hollywood's Propaganda
Second laptop stolen from Israeli nuclear chief
UN chief warns 'new cold war' looms over the internet
China says U.S. routinely hacks Defense Ministry websites
"Two major Chinese military websites, including that of the Defense Ministry, were subject to about 144,000 hacking attacks a month last year, almost two-thirds of which came from the United States, the ministry said on Thursday."
Bradley Manning pleads guilty to misusing classified data in WikiLeaks case
The Next Cyber War Is Already in Progress: Security Expert
Over 1,000 targeted cyber-attacks hit Japanese entities in 2012
New sophisticated malware targets 23 countries, including Israel

## Systemic breakdown ##
Oakland Neighbors Policing Their Own Streets As They Lose Faith In Cops
Factories struggle in Egypt as costs, risks rise
Thai Power Woes Threaten Tech Supply Chain; How To Respond
Looming oil industry skills shortage could cost sector dearly
Workers Adding to Egyptian Chaos as Strike Wave Disrupts Economy
Greeks Panic As Drug Firms Slash Medicine Supplies By 90% On Bad Debts
Wal-Mart Struggles to Restock Store Shelves as U.S. Sales Slump

## Japan ##
Nuclear Expert: "The Melted Core Cracked The Containment Vessel … There Really Is No Containment" At Fukushima Reactors
Rising doubts about Japan's official radiation figures
Inside the Abandoned Radioactive Towns of Japan
Nuke plant operators put tab on new safety standards at 1 trillion yen
PM Abe says Japan's idle nuclear plants will restart soon
Nuclear watchdog: No easy task to scrap Fukushima reactors safely
Radiation exposure data for over 20,000 nuclear cleanup workers still not submitted
WHO: Small cancer risk after Fukushima accident
Greenpeace: World Health Organisation Downplays Health Impacts of Fukushima Nuclear Disaster
Highest radiation detected in fish at TEPCO port
Imported wheat prices to rise 9.7%
Almost no wheat is produced domestically, so this will hit food budgets hard. -- RF
TEPCO mulls cutting off power to companies refusing rate hike
"Tokyo Electric Power Co. may suspend power supply to companies and factories that are refusing to accept the utility's higher electricity rates, which it has increased since April last year by an average of 14.9 percent, a company official said Wednesday."
Gas pump price rises for 12th straight week
Govt bets big on lavish public works spending / Even with an influx of cash, construction industry hampered by labor shortage, high material costs
Any lift will be only temporary, and the government will be left with more debt. -- RF
Japanese automakers see 10.6% fall in Jan. domestic output
"Eight major Japanese automakers reported on Wednesday their combined domestic output in January plunged 10.6 percent from a year earlier to 714,580 vehicles as domestic sales sagged after last September's termination of government subsidies for eco-friendly vehicle purchases."
Japan industrial output misses expectations
Narita To Halve Landing Fees For New Intl Flights
Sony sells Tokyo office building for Y111 bil
Seven-Eleven stores top 15,000

## China ##
China's first aircraft carrier relocates to Qingdao
Luxury in decline as frugality drive bites
China promotes austerity in schools
China Provinces Cut Growth Targets Over Debt Concerns
"Almost half of China's provinces are setting their growth sights lower in the wake of the central government's emphasis on the quality of expansion over speed, a sign of an increased focus on tackling rising debt."
China plans bond overhaul to fund $6 trillion urbanization - sources
"China plans major bond market reform to raise the money the ruling Communist Party needs for a 40 trillion yuan ($6.4 trillion) urbanization program to buoy economic growth and close a chasm between the country's urban rich and rural poor."

## UK ##
High street closure toll could reach 28 stores a day
"Almost 2,000 retail sites closed in 2012 and report predicts many more will shut up shop this year"
Almost half of councils set to ignore council tax freeze
Britain looks to Algeria for new gas import
Britian to develop marine energy

## US ##
Detroit To Be Taken Over By The State
Detroit on the Brink
Roubini: Fed's Credit Bubble May Be Bigger Than 2003-06
America must not "dictate" to world, new defense chief says
U.S. oil needs should keep it in Mideast
"The United States was more reliant on Middle East oil imports in 2012 than in previous years, emphasizing how important the region remains for Washington."
Pump! Dow within reach of record close
Dump! Stocks Plunge To Red As 'All-Time High' Hopes Fade
JCPenney Reports Horrific Results, Stock Plunges
Indigent burials rise in U.S. on back of weak economy
United States of austerity: America is facing an uncertain future
Deficit Reduction = Recession
The shaky logic of US natural gas exports
Housing Market May Not Be as Healthy as It Appears
New Cars Increasingly Out of Reach for Many Americans
Why Isn't Closing 129 Chicago Public Schools National News?
The blight below: Crumbling Detroit infrastructure needs more than crisis repairs
Army bracing for budget cuts: Training, child care and more to be impacted by April
Delinquencies On Student Loans Surpass Those On Credit Card Debt
Gun maker CEO: 'We're selling everything we make'

And finally…
Tim Geithner To Hold Financial Crisis Seminars
Pat Robertson: Second-hand sweaters could have demons attached

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