Sunday, March 31, 2013
News Links, March 30-April 1, 2013
## Global Ponzi meltdown/House of Cards ##
Schaeuble says euro zone savings deposits are safe
"German Finance Minister Wolfgang Schaeuble has said savings accounts in the euro zone are safe, adding that Cyprus is a 'special case' and not a template for future rescues."
Schaeuble says euro zone savings deposits are safe
"German Finance Minister Wolfgang Schaeuble has said savings accounts in the euro zone are safe, adding that Cyprus is a 'special case' and not a template for future rescues."
Bank Failures, Sovereign Bond Collapses, Savers Head for their Mattresses
Clothing prices spiral lower in Canada
Clothing prices spiral lower in Canada
Gillard May Seek China Currency Deal, Australian Reports
"Prime Minister Julia Gillard may seek a deal enabling direct conversion of Australian dollars into Chinese currency when she visits China next week, the Australian newspaper reported today."
"Prime Minister Julia Gillard may seek a deal enabling direct conversion of Australian dollars into Chinese currency when she visits China next week, the Australian newspaper reported today."
Another move to bypass the US dollar. -- RF
IMF team to arrive in Egypt on Wednesday for loan talks
"An IMF delegation will arrive in Egypt on Wednesday for talks with the government on a $4.8 billion loan, a government spokesman said on Sunday, as Cairo seeks to conclude a deal vital to easing a deep economic crisis."
"An IMF delegation will arrive in Egypt on Wednesday for talks with the government on a $4.8 billion loan, a government spokesman said on Sunday, as Cairo seeks to conclude a deal vital to easing a deep economic crisis."
S.East Asia ready to build, but will investors come?
"Indonesia is seeking European investors for $9 billion worth of water, road, air and seaport projects in what will be a litmus test of Southeast Asian countries' ability to seize on ripe financial conditions to upgrade decrepit infrastructure."
"Indonesia is seeking European investors for $9 billion worth of water, road, air and seaport projects in what will be a litmus test of Southeast Asian countries' ability to seize on ripe financial conditions to upgrade decrepit infrastructure."
But rich investors should not be allowed to buy farmland they aren't going to use themselves. A system in which the rich own the land and the rest of us are sharecroppers (serfs) is the road to neofeudalism. -- RF
## Airline Death Spiral ##
United Airlines again delays Denver-Tokyo flights as Boeing works to fix batteries on 787 jet
United Airlines again delays Denver-Tokyo flights as Boeing works to fix batteries on 787 jet
Armenian National Air Carrier Files For Bankruptcy
"Armenia's national air carrier, Armavia, has decided to stop operating flights and file for bankruptcy on April 1 after struggling to pay its current debts for months."
"Armenia's national air carrier, Armavia, has decided to stop operating flights and file for bankruptcy on April 1 after struggling to pay its current debts for months."
## Fault lines/flashpoints/powder kegs/military/war drums ##
First commercial flight between Egypt and Iran for 34 years
"The first commercial flight between Egypt and Iran in 34 years took off on Saturday, the latest step towards normalizing ties broken following the 1979 Iranian Islamic revolution."
Turkey Takes Advantage of Cyprus Desperation
"As the geopolitical game over Mediterranean hydrocarbons heats up, Turkey has suspended energy deals with Italy's Eni over the company's involvement in oil and gas exploration offshore Cyprus."
"The first commercial flight between Egypt and Iran in 34 years took off on Saturday, the latest step towards normalizing ties broken following the 1979 Iranian Islamic revolution."
Turkey Takes Advantage of Cyprus Desperation
"As the geopolitical game over Mediterranean hydrocarbons heats up, Turkey has suspended energy deals with Italy's Eni over the company's involvement in oil and gas exploration offshore Cyprus."
Taiwan to skip Senkakus claims in fisheries talks with Japan
"In a marked policy shift, Taiwan plans to skip its claims to the Senkaku Islands in negotiating a fisheries agreement with Japan, sources close to the negotiations said."
"In a marked policy shift, Taiwan plans to skip its claims to the Senkaku Islands in negotiating a fisheries agreement with Japan, sources close to the negotiations said."
Ma christens two ships to patrol Diaoyutai Islands
"TAIPEI, Taiwan -- President Ma Ying-jeou yesterday christened two Coast Guard cutters that will patrol the waters over the disputed Diaoyutai Islands."
"TAIPEI, Taiwan -- President Ma Ying-jeou yesterday christened two Coast Guard cutters that will patrol the waters over the disputed Diaoyutai Islands."
## Global unrest/mob rule/angry people/torches and pitchforks ##
First anniversary of weekly antinuclear rallies outside prime minister's office marked (Japan)
Students rally to demand child poverty legislation (Japan)
Angola police detain 18 at rights rally: activists
Angola police detain 18 at rights rally: activists
## Energy/resources ##
Total says oil sands rethink doesn't signal long-term doubt
"This week's decision by Total SA's and Suncor Energy Inc to abandon a multibillion-dollar project to upgrade bitumen produced in the Canadian oil sands before shipping it abroad won't be the last rethinking of a capital-hungry oil sands project in a harsher economic climate."
Total says oil sands rethink doesn't signal long-term doubt
"This week's decision by Total SA's and Suncor Energy Inc to abandon a multibillion-dollar project to upgrade bitumen produced in the Canadian oil sands before shipping it abroad won't be the last rethinking of a capital-hungry oil sands project in a harsher economic climate."
Big Oil's hassle with Iraq is China's gain
"U.S. oil companies seem to be losing interest in Iraq, which a decade ago was seen as the big prize in the global energy business with the world's fifth largest oil reserves and low production costs."
"U.S. oil companies seem to be losing interest in Iraq, which a decade ago was seen as the big prize in the global energy business with the world's fifth largest oil reserves and low production costs."
India not to halt imports from Iran
"Notwithstanding the tightening of sanctions by US and European Union (EU), India does not intend to halt imports of crude oil from Iran. Instead the government is working on a scheme to insure oil import shipments from the Islamic nation to maintain smooth supply of energy supplies and also expand trade in other commodities."
"Notwithstanding the tightening of sanctions by US and European Union (EU), India does not intend to halt imports of crude oil from Iran. Instead the government is working on a scheme to insure oil import shipments from the Islamic nation to maintain smooth supply of energy supplies and also expand trade in other commodities."
Can You Have Too Much Solar Energy?
"Germany's little-guy suppliers are destabilizing big power companies."
"Germany's little-guy suppliers are destabilizing big power companies."
Three major blackouts in three years (Trinidad and Tobago)
I can attest to this. -- RF
## Environment/health ##
Dead Pigs, Ducks And Now Black Swans: China's Animal Apocalypse Crosses Into The Twilight Zone
Poor air plagues 90% of cities (China)
## Intelligence/propaganda/security/internet/cyberwar ##
Was The Internet's Greatest DoS Attack Ever Just A PR Stunt?
Navy Wants Lasers on Marines' Trucks to Shoot Down Drones
Navy Wants Lasers on Marines' Trucks to Shoot Down Drones
## Systemic breakdown/collapse ##
How high oil prices lead to financial collapse
Walmart Faces the Cost of Cost-Cutting: Empty Shelves
Walmart Faces the Cost of Cost-Cutting: Empty Shelves
Scientists leaving labs and heading for cubicles
Short of Money, Egypt Sees Crisis on Fuel and Food
"A fuel shortage has helped send food prices soaring. Electricity is blacking out even before the summer. And gas-line gunfights have killed at least five people and wounded dozens over the past two weeks."
Short of Money, Egypt Sees Crisis on Fuel and Food
"A fuel shortage has helped send food prices soaring. Electricity is blacking out even before the summer. And gas-line gunfights have killed at least five people and wounded dozens over the past two weeks."
Hippie Commune Thrives as Europeans Tire of Chaos
"As Europe's financial woes deepen and depositors increasingly question the safety of their savings, some European citizens are looking to escape their economic troubles by joining an Italian commune, replete with its own monetary, political and economic system."
"As Europe's financial woes deepen and depositors increasingly question the safety of their savings, some European citizens are looking to escape their economic troubles by joining an Italian commune, replete with its own monetary, political and economic system."
"U.S. schools are facing a $271 billion deferred maintenance bill just to bring buildings up to working order, said a U.S. Green Building Council report released this month. That's more than $5,000 per student. Modernizing outdated schools could double that dollar amount, the report said."
## Japan ##
The Abenomics Farce Continues
The Abenomics Farce Continues
Batteries malfunction in 2 more MMC cars
"Mitsubishi Motors Corp. has discovered two more cases of lithium-ion battery problems in its Outlander PHEV plug-in hybrid vehicles."
"Mitsubishi Motors Corp. has discovered two more cases of lithium-ion battery problems in its Outlander PHEV plug-in hybrid vehicles."
San Francisco Fed: Official China GDP Data is OK
"China's National Bureau of Statistics has supporters in San Francisco. Dallas is another story."
"China's National Bureau of Statistics has supporters in San Francisco. Dallas is another story."
## UK ##
Fear becoming a 'bag lady' someday? Many others do, too
"A new survey shows that almost half of American women fear they will become 'bag ladies' some day, and the anxiety ripples across all income groups."
"A new survey shows that almost half of American women fear they will become 'bag ladies' some day, and the anxiety ripples across all income groups."
If you're not a member of the new aristocracy, it's quite possible. Suck it up. -- RR
David Stockman: We've Been Lied To, Robbed, And Misled
'We're outgunned': Classified U.S. Navy memo reveals ships costing $37B lack firepower, may not be 'survivable'
How the Monsanto Protection Act snuck into law
'We're outgunned': Classified U.S. Navy memo reveals ships costing $37B lack firepower, may not be 'survivable'
How the Monsanto Protection Act snuck into law
Arizona Lawmakers Advance Bill Allowing Gold and Silver as Money
Not Housing Recovery, But Housing Inflation
Not Housing Recovery, But Housing Inflation
Neighbor's note spurs 'tacky' lawn display
SWAT Raids Home Over Hydroponic Equipment Purchase, Finds Tomatoes and Squash
SWAT Raids Home Over Hydroponic Equipment Purchase, Finds Tomatoes and Squash
Friday, March 29, 2013
News Links, March 29, 2013
## Global Ponzi meltdown/House of Cards ##
Small businesses spell big problems for Italy and Spain
Small businesses spell big problems for Italy and Spain
Crisis-hit Europeans battling financial distress: EU report
"Facing mounting social pressures and unemployment, Europeans are experiencing their worst financial distress in a decade and see little immediate hope for improvement, a new study says."
"Facing mounting social pressures and unemployment, Europeans are experiencing their worst financial distress in a decade and see little immediate hope for improvement, a new study says."
Portuguese government may teeter if court blocks austerity
"Portugal is facing a potential political crisis if its constitutional court rejects government austerity measures, risking more euro zone turmoil on top of the Cyprus bailout this month."
"Portugal is facing a potential political crisis if its constitutional court rejects government austerity measures, risking more euro zone turmoil on top of the Cyprus bailout this month."
Canada Discusses Forced Depositor Bail-In Procedures for "Too Big To Fail" Banks in 2013 Budget
N.Z. telecoms giant axing 1,200 jobs
'Run for the Hills' Now, I'm Doing It: Jim Rogers
"The EU/IMF raiding bank accounts in Cyprus to bail out the country's financial system sets a dangerous precedent and investors should 'run for the hills' said investor Jim Rogers, chairman of Rogers Holdings, on 'Squawk on the Street' Thursday."
N.Z. telecoms giant axing 1,200 jobs
'Run for the Hills' Now, I'm Doing It: Jim Rogers
"The EU/IMF raiding bank accounts in Cyprus to bail out the country's financial system sets a dangerous precedent and investors should 'run for the hills' said investor Jim Rogers, chairman of Rogers Holdings, on 'Squawk on the Street' Thursday."
If You Don't Own Your Bank Deposit, Do You Own Your Gold?
"When it was announced that both large and small depositors were to have a percentage of them seized, it was not the amount that horrified the world but the discovery that you do not own your own bank deposits."
"When it was announced that both large and small depositors were to have a percentage of them seized, it was not the amount that horrified the world but the discovery that you do not own your own bank deposits."
South Korea Looks At Increasing Tax Compliance
"A recent report by the Hyundai Research Institute indicated that the country's non-taxed underground economy had actually reached around 23% of the country's gross domestic product (GDP), or KRW290 trillion (USD260.7bn), by last year."
"A recent report by the Hyundai Research Institute indicated that the country's non-taxed underground economy had actually reached around 23% of the country's gross domestic product (GDP), or KRW290 trillion (USD260.7bn), by last year."
Is Michelin considering European plant closures?
"When it comes to making cost savings in Europe, Michelin's management is not ruling anything out. In a clear sign of the pressure tyre manufacturers are under in Europe, Michelin is said to be considering headcounts and manufacturing capacities."
"When it comes to making cost savings in Europe, Michelin's management is not ruling anything out. In a clear sign of the pressure tyre manufacturers are under in Europe, Michelin is said to be considering headcounts and manufacturing capacities."
## Airline Death Spiral ##
Europe Airlines and Economic Engines Lost
"According to a report from the CAPA Center for Aviation, the 13 largest European airlines lost an aggregate net profit of some 72% last year. With costs growing faster than revenues (8.5% versus 8%) it seems clear some of these 13 will founder if things don't change."
"According to a report from the CAPA Center for Aviation, the 13 largest European airlines lost an aggregate net profit of some 72% last year. With costs growing faster than revenues (8.5% versus 8%) it seems clear some of these 13 will founder if things don't change."
Domestic air tickets to cost more; Air India and Jet Airways hikes fuel surcharge
Dropped scissors causes chaos at Naha Airport (Japan)
Dropped scissors causes chaos at Naha Airport (Japan)
## Fault lines/flashpoints/powder kegs/military/war drums ##
India to build new naval base to keep tabs on PLA
## Global unrest/mob rule/angry people/torches and pitchforks ##
Clashes as Chile students march for education reform
## Energy/resources ##
China tightens grip on Africa's resources
"China's new president is touring Africa, underlining the continent's strategic importance for Beijing in its relentless drive to acquire vital resources."
The article points out one obvious shortcoming; others are cost and scale. -- RF
Japan's Oil Imports From Iran Rise to Highest Since March 2012
"Japan's crude imports from Iran rose 16 percent in February from a year earlier to the highest level since March 2012, boosting its intake despite sanctions against the Middle Eastern nation."
"Japan's crude imports from Iran rose 16 percent in February from a year earlier to the highest level since March 2012, boosting its intake despite sanctions against the Middle Eastern nation."
Oil sands bust: Suncor's Voyageur plant expected to join scrap heap
"If Suncor Energy Inc. mothballs its partly-built Voyageur upgrader, it will contribute to a scrap heap of a dozen-or-so upgraders planned for Alberta over the years but cancelled because of poor expected returns."
"If Suncor Energy Inc. mothballs its partly-built Voyageur upgrader, it will contribute to a scrap heap of a dozen-or-so upgraders planned for Alberta over the years but cancelled because of poor expected returns."
Shale gas bust: 'The Shale Gale Is a Retirement Party'
"So concludes an expert analyst of the natural gas boom. Brace for bust."
Power peaks at 26,430MW
"Power consumption reached a new record high on Thursday, at 26,430 megawatts, as temperature hit 39.1 degree celsius, according to Electricity Generating Authority of Thailand."
"Power consumption reached a new record high on Thursday, at 26,430 megawatts, as temperature hit 39.1 degree celsius, according to Electricity Generating Authority of Thailand."
Aleo Solar records drop in revenue, negative earnings for 2012
Where next for the renewable energy European Supergrid?
"Unfortunately the harsh economic conditions are starting to bite and roll-out of new projects is stalling. Overall, the EU is almost 2 GW (1.7%) under its National Renewable Energy Action Plan forecasts. Eighteen Member States are falling behind, including Slovakia, Greece, Czech Republic, Hungary, France and Portugal. It remains to be seen how this will impact on the whole supergrid project."
Where next for the renewable energy European Supergrid?
"Unfortunately the harsh economic conditions are starting to bite and roll-out of new projects is stalling. Overall, the EU is almost 2 GW (1.7%) under its National Renewable Energy Action Plan forecasts. Eighteen Member States are falling behind, including Slovakia, Greece, Czech Republic, Hungary, France and Portugal. It remains to be seen how this will impact on the whole supergrid project."
Drought Season's Early Start Presages Another Bleak Year
"Conditions in more than half of the United States have slipped into a pattern that climatologists say is uncomfortably similar to the most severe droughts in recent U.S. history, including the 1930s Dust Bowl and the widespread 1950s drought."
"Conditions in more than half of the United States have slipped into a pattern that climatologists say is uncomfortably similar to the most severe droughts in recent U.S. history, including the 1930s Dust Bowl and the widespread 1950s drought."
## Intelligence/propaganda/security/internet/cyberwar ##
U.S. law to restrict government purchases of Chinese IT equipment
U.S. law to restrict government purchases of Chinese IT equipment
Divers caught cutting through undersea internet cable in Egypt
"Egypt's coastguard has caught three divers cutting through an undersea internet cable, the first suggestion criminals might be involved in days of severed connections and disruptions to online services."
"Egypt's coastguard has caught three divers cutting through an undersea internet cable, the first suggestion criminals might be involved in days of severed connections and disruptions to online services."
Surveillance technology comes under fire
"Investigators in California are using a surveillance system to gather cellphone data to track suspects without detailing the practice to judges, documents show."
"Investigators in California are using a surveillance system to gather cellphone data to track suspects without detailing the practice to judges, documents show."
The Coming Of Cyber World War I
"Experts say looming IT attacks could be catastrophic for global business and even cost lives."
Who Cut Egypt's Internet?
"Experts say looming IT attacks could be catastrophic for global business and even cost lives."
Who Cut Egypt's Internet?
Global communication links in India to be hit for two weeks
"Disruptions may be caused by outages, maintenance work on undersea cables connecting India to rest of world"
"Disruptions may be caused by outages, maintenance work on undersea cables connecting India to rest of world"
## Systemic breakdown/collapse ##
'Sandwich generation' increasingly trapped by work-life overload
"More working Canadians are having to care for both their kids and their older relatives. It's a squeeze that spells consequences for the workplace, from higher absenteeism and lost productivity to greater distraction and burnout."
Egypt govt seeks favours as credit crunch hits imports
"Egypt has hit breaking point in its ability to pay for imports of oil, wheat and other basic commodities, forcing it to call in diplomatic favours or seek easy payment terms from suppliers who hope for future advantage in return."
"Egypt has hit breaking point in its ability to pay for imports of oil, wheat and other basic commodities, forcing it to call in diplomatic favours or seek easy payment terms from suppliers who hope for future advantage in return."
## Japan ##
Japanese utilities face 1.2 trillion yen burden every year nuclear plants shut down
Japan's Tohoku Electric abandons plan for new nuclear plant
Japan's Tohoku Electric abandons plan for new nuclear plant
This is wonderful news, but it will of course be greeted with abject hand-wringing and hair-pulling by the hopelessly deluded proponents of infinite growth. -- RF
Google Releases Street View Images From Fukushima Ghost Town
Google Releases Street View Images From Fukushima Ghost Town
Cut, cut, cut. -- RF
Gov't denies gas price hike after panic buying
Puru Saxena: Hong Kong Is Ready for a Bust; "This Is Going to End Very Very Badly"
Puru Saxena: Hong Kong Is Ready for a Bust; "This Is Going to End Very Very Badly"
China Corporate News: Chalco Posts ¥8b Loss on Low Aluminum Prices; China Eastern Turns to Europeans
Chingford shops 'driven to bankruptcy' by power cuts
Streetlights going off in Stratford
"Cash-strapped Warwickshire County Council took the controversial decision to switch off streetlights in certain areas for part of the night"
Streetlights going off in Stratford
"Cash-strapped Warwickshire County Council took the controversial decision to switch off streetlights in certain areas for part of the night"
## US ##
Wal-Mart may get customers to deliver packages to online buyers
Room service at home? Wealthy New Yorkers expect 5-star hotel treatment at luxury apartments
Pity the rich. They have so many things to worry about. -- RF
Fisker puts U.S. workforce on furlough this week
"Fisker Automotive, which has not made a vehicle since July, placed its U.S. workforce on furlough this week as part of its effort to keep costs low while it continues to search for a strategic partner, the U.S. automaker said on Wednesday."
"Fisker Automotive, which has not made a vehicle since July, placed its U.S. workforce on furlough this week as part of its effort to keep costs low while it continues to search for a strategic partner, the U.S. automaker said on Wednesday."
Growth is dead. Long live Growth! -- RF
More than 300,000 homes are foreclosed "zombies," study says
"A national survey found 301,874 'zombie' properties dotting the U.S. landscape in which homeowners in foreclosure have moved out, leaving vacant property susceptible to vandalism and degradation."
"A national survey found 301,874 'zombie' properties dotting the U.S. landscape in which homeowners in foreclosure have moved out, leaving vacant property susceptible to vandalism and degradation."
Thursday, March 28, 2013
News Links, March 28, 2013
## Global Ponzi meltdown/House of Cards ##
Cyprus Capital Controls First in EU Could Last Years
Greek ferry crews face months without pay as financial crisis batters an iconic industry
Greek ferry crews face months without pay as financial crisis batters an iconic industry
China Cosco Posts Worse-Than-Expected Loss on Cargo Price
"China Cosco Holdings Co. (1919), the nation's biggest shipping company, reported a worse-than-expected annual loss as dry-bulk rates slumped."
"China Cosco Holdings Co. (1919), the nation's biggest shipping company, reported a worse-than-expected annual loss as dry-bulk rates slumped."
Global Youth Unemployment: a ticking time bomb
## Airline Death Spiral ##
Shape up or don't fly, Air India tells cabin crew over 40
## Airline Death Spiral ##
Shape up or don't fly, Air India tells cabin crew over 40
Suvarnabhumi quieter after AirAsia loss
"Bangkok's Suvarnabhumi airport has seen a severe drop in passenger traffic this year, following AirAsia's move to the Thai capital's second airport, Don Mueang."
"Bangkok's Suvarnabhumi airport has seen a severe drop in passenger traffic this year, following AirAsia's move to the Thai capital's second airport, Don Mueang."
China's Top Airlines Post Sharp Profit Fall
"Profits sank at China's top three state-owned carriers last year as growth in demand for air travel weakened and the yuan rose at a slower pace against the U.S. currency."
"Profits sank at China's top three state-owned carriers last year as growth in demand for air travel weakened and the yuan rose at a slower pace against the U.S. currency."
Ban: UN Needs Tens of Thousands of Troops for Mali War
## Global unrest/mob rule/angry people/torches and pitchforks ##
Anti-austerity march hopes to break Iraq rally record (UK)
## Global unrest/mob rule/angry people/torches and pitchforks ##
Anti-austerity march hopes to break Iraq rally record (UK)
Protesting Unemployed Graduates beaten and arrested by the police (Ghana)
Police Make Arrests In School Closings Protest (US)
Anti-drone protesters arrested outside Nevada base
## Energy/resources ##
Power Outage Shuts Private Sector Down (Bahamas)
Police Make Arrests In School Closings Protest (US)
Anti-drone protesters arrested outside Nevada base
## Energy/resources ##
Power Outage Shuts Private Sector Down (Bahamas)
"Several scientists now say it's actually possible to have so many turbines that they start to lose power. They steal each other's wind."
SMA Solar's profit plunges as industry crisis spreads
"SMA Solar's profits and dividend more than halved last year, hit by plunging prices that have led to a wave of insolvencies in the solar industry."
"SMA Solar's profits and dividend more than halved last year, hit by plunging prices that have led to a wave of insolvencies in the solar industry."
Israel Electric formally cancels gas agreement with EMG
"The cut-off of supplies forced IEC and other Israeli customers to switch to gasoil and fuel oil as a result of the severe shortage of natural gas."
"The cut-off of supplies forced IEC and other Israeli customers to switch to gasoil and fuel oil as a result of the severe shortage of natural gas."
## Lifestyle Solutions ##
Transition Town: Community gardens have a long tradition
## Environment/health ##
Researchers link largest quake yet to drilling waste injections; 2011 Oklahoma tremor was 5.6
"An unusual and widely felt 5.6-magnitude quake in Oklahoma in 2011 was probably caused when oil drilling waste was pushed deep underground, a team of university and federal scientists concluded."
"An unusual and widely felt 5.6-magnitude quake in Oklahoma in 2011 was probably caused when oil drilling waste was pushed deep underground, a team of university and federal scientists concluded."
Study: Shale Gas Fracking Taints Rivers in Pennsylvania
Arctic change reverberates around globe, experts say
Arctic change reverberates around globe, experts say
Madagascar hit by 'severe' plague of locusts
"A severe plague of locusts has infested about half of Madagascar, threatening crops and raising concerns about food shortages, a UN agency says."
"A severe plague of locusts has infested about half of Madagascar, threatening crops and raising concerns about food shortages, a UN agency says."
## Intelligence/propaganda/security/internet/cyberwar ##
The other two guys are wrong… here's how it actually happened. Etc. Of course there can be countless variations to a story that was fiction from the beginning. The eagerness of Americans and many others to believe this crock-of-baloney narrative underlines the overwhelming superiority and success of the American propaganda system. Are you still interested in buying my oceanfront property in Tajikistan? -- RF
The astonishing speed of Chinese censorship## Systemic breakdown/collapse ##
"The number of people leaving cities for rural areas is at a record high in South Korea, as government subsidies to boost agricultural production coincide with slowing economic growth."
Policy Experts Agree: The U.S. System for Financing Long-Term Care is Crumbling
All of Japan's prefectures' populations will be down in 2040 from 2010 levels
Suzuki to stop selling autos in Canada
Suzuki to stop selling autos in Canada
Suntech Bankruptcy Bad News for Solar
"Solar stocks are extremely volatile right now and unable to deal with the combination of oversupply and declining demand at a time when government subsidies are being slashed. Suntech's bankruptcy is the straw that is breaking the solar camel's back."
"Solar stocks are extremely volatile right now and unable to deal with the combination of oversupply and declining demand at a time when government subsidies are being slashed. Suntech's bankruptcy is the straw that is breaking the solar camel's back."
Growing social unease in China over right to a good education
Puru Saxena: China's Real Estate Bubble On The Verge Of A Bust
Puru Saxena: China's Real Estate Bubble On The Verge Of A Bust
## UK ##
Ministers told to prepare for more cuts of up to 10%
Don't come on in... the water's terrible: major reduction in number of recommended beaches
Don't come on in... the water's terrible: major reduction in number of recommended beaches
Millions of single pensioners worst off on energy bills in 2020, figures show
Egan-Jones Downgrades UK From AA- To A+
Egan-Jones Downgrades UK From AA- To A+
## US ##
The Five Ways Deflation Has Already Taken Hold
Graph of the Day: Estimated vehicle miles driven on all U.S. roads, adjusted for population growth, 1971-2013
Scientists: Feds can't keep up with ills from two wars
Beef, Pork Prices Projected to Keep Rising in '13
Graph of the Day: Estimated vehicle miles driven on all U.S. roads, adjusted for population growth, 1971-2013
Scientists: Feds can't keep up with ills from two wars
Beef, Pork Prices Projected to Keep Rising in '13
Tuesday, March 26, 2013
News Links, March 27, 2013
## Global Ponzi meltdown/House of Cards ##
BRICS Nations Plan New Bank to Bypass World Bank, IMF
Saving Cyprus Means Nobody Safe as Europe Breaks Taboo
Saving Cyprus Means Nobody Safe as Europe Breaks Taboo
The Axe is in Position, Only the Timing of the Swing is in Question
Dijsselbloem Says Euro Troubled Lenders Must Fend for Themselves
South Korea Revised GDP Growth Misses View
Dijsselbloem Says Euro Troubled Lenders Must Fend for Themselves
South Korea Revised GDP Growth Misses View
EU Pushes Bail-In Regulations on All Deposits Above €100,000; Run on Banks Coming Up?
Bank of Spain sees economy shrinking further this year
Chill in car sales spreads to northern Europe
IMF economist warns central banks may grow too powerful
Is China cooking its books?
Bank of Spain sees economy shrinking further this year
Chill in car sales spreads to northern Europe
IMF economist warns central banks may grow too powerful
Is China cooking its books?
Let's put it this way: What country is not cooking its books? Seriously, the whole infinite-growth system, in which banks lend money they do not have by using the trick of fractional-reserve lending, is FRAUD, pure and simple. If you believe this system is sustainable, I have some oceanfront property in Tajikistan to sell you. -- RF
China to carry bulk of BRICS contingency Fund
China to carry bulk of BRICS contingency Fund
## Fault lines/flashpoints/powder kegs/military/war drums ##
Officials: US training Syrian forces in Jordan to boost anti-Assad forces, stem extremist sway
Vietnam accuses China over South China Sea clash
"Vietnam has accused a Chinese vessel of firing on one of its fishing boats in disputed waters in the South China Sea, setting it alight."
"Vietnam has accused a Chinese vessel of firing on one of its fishing boats in disputed waters in the South China Sea, setting it alight."
Gen. Allen: Leaving Afghanistan Was Never an Option
UN: Major Increase in Israeli Warplanes Over South Lebanon
UN: Major Increase in Israeli Warplanes Over South Lebanon
## Global unrest/mob rule/angry people/torches and pitchforks ##
Spanish Protest Evictions at Doorsteps of Political Elite
## Energy/resources ##
Energy Industry Capital Spending Reaching New Highs
"At first glance, higher capital spending in the energy industry may seem a paradox during a period of weak global economic growth. However, it requires enormous capital to maintain — let alone grow — its business model. To that end, several tailwinds have helped fuel the industry's relentless re-investment, simulative monetary policy – low interest rates, high crude prices, rising costs, increasing demand from developing nations, increasingly remote and difficult regions to explore for oil driven by globally constrained light sweet crude oil."
"Companies have been pushing out into deeper waters and harsher environments as old oil discoveries play out and new supplies become more difficult to find. Transocean Ltd. (RIG) said last month it set a new record drilling in 10,385 feet of water."
Jeffrey Brown on Global Net Oil Exports – Is It Midnight on the Titanic?
"Available Global Net Oil Exports Continue To Decline, Outpacing Gains in US Oil Production"
"Available Global Net Oil Exports Continue To Decline, Outpacing Gains in US Oil Production"
Even if it works, it won't be an energy bonanza. -- RF
Oil boom too much for pipelines
"There won't be enough pipeline capacity to handle North American oil even if the planned Keystone XL pipeline gets built, an analysis says."
"There won't be enough pipeline capacity to handle North American oil even if the planned Keystone XL pipeline gets built, an analysis says."
Chinese oil demand increasing
"Chinese oil demand during the first two months of the year increased more than 4 percent compared to the same time last year, analysis says."
"Chinese oil demand during the first two months of the year increased more than 4 percent compared to the same time last year, analysis says."
France's electric car push presents power grid challenge
"France's power grid, already under strain at peak periods, could struggle to cope if growing numbers of electric car owners all recharge their batteries when they sit down for dinner, power sector executives say."
"France's power grid, already under strain at peak periods, could struggle to cope if growing numbers of electric car owners all recharge their batteries when they sit down for dinner, power sector executives say."
## Intelligence/propaganda/security/internet/cyberwar ##
For Some, Resistance To Google Glass Is Not Futile
Wells Fargo: Cyber Attack Disrupting Website
## Systemic breakdown/collapse ##
Marx's Revenge: How Class Struggle Is Shaping the World
## Systemic breakdown/collapse ##
Marx's Revenge: How Class Struggle Is Shaping the World
As the development of neofeudalism advances, it is inevitable that two major classes — the super-rich (the new aristocracy) and the have-nots (the new serfs) will emerge. -- RF
## Japan ##
In modern Japan, even working people are sleeping rough
"It is not only Japan's jobless who are sleeping at McDonald's for the price of a cup of coffee. Many with jobs, too, are bedding down cheaply in railway stations and comics cafes."
Many gas stations reach end of the road
"According to the Economy, Trade and Industry Ministry, the number of gas stations in Japan peaked at 60,421 stations at the end of fiscal 1994, but has been falling since. Just 37,743 were in business at the end of fiscal 2011."
"According to the Economy, Trade and Industry Ministry, the number of gas stations in Japan peaked at 60,421 stations at the end of fiscal 1994, but has been falling since. Just 37,743 were in business at the end of fiscal 2011."
Mr Yen cautions on Japan's 'unsafe' debt trajectory
"Japan's public debt has reached worrying levels and could lead to a bond buyers' strike unless the government brings the budget deficit under control, the country's top currency official has warned."
"Japan's public debt has reached worrying levels and could lead to a bond buyers' strike unless the government brings the budget deficit under control, the country's top currency official has warned."
Quake insurance premiums in Japan to be raised by 15.5 pct
## China ##
Recipe for riots: China $10 Trillion Import Machine Says Goodbye To Cheap Energy, Food
China's Biggest Footwear Retailer Warns Country Shifting To Slower Growth
## China ##
Recipe for riots: China $10 Trillion Import Machine Says Goodbye To Cheap Energy, Food
China's Biggest Footwear Retailer Warns Country Shifting To Slower Growth
Deaths rise 10pc in freezing weather
Council cuts will bring local government 'to its knees'
"Local authority leaders in England and Wales tell Guardian survey that municipal finances are increasingly 'unsustainable'"
Council cuts will bring local government 'to its knees'
"Local authority leaders in England and Wales tell Guardian survey that municipal finances are increasingly 'unsustainable'"
Social care, sports and waste hit as councils cut again
"Vital local services face swingeing cuts as councils impose yet more budget savings as authorities deal with a growing financial crisis, it emerged last night."
"Vital local services face swingeing cuts as councils impose yet more budget savings as authorities deal with a growing financial crisis, it emerged last night."
British spot gas prices stay high on cold weather, low stocks
Up to 630,000 borrowers are stuck in negative equity as the housing market stagnates
Cold weather could stay until late April, say forecasters
Up to 630,000 borrowers are stuck in negative equity as the housing market stagnates
Cold weather could stay until late April, say forecasters
USDA Secretary Vilsack to announce expansion of program aimed at reducing rural poverty
Revel, envisioned as Atlantic City's game-changing casino, files for bankruptcy
Revel, envisioned as Atlantic City's game-changing casino, files for bankruptcy
About as smart as building cities in a tsunami zone. -- RF
Where Has Consumer Confidence Gone?
