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."
They're coming for YOUR MONEY!
It Can Happen Here: The Confiscation Scheme Planned for US and UK Depositors
This Is What It Feels Like To Have Your Life Savings Confiscated By The Global Elite
Tiny Cyprus flashes defiance at EU partners, latest in a string of fightbacks
Bank of Cyprus savers with over 100,000 euros could take losses of up to 60 percent
Life On Cyprus After The Bailout
Slovenia Becomes the Next Sovereign Debt Target as Yields Push Over 7%
Who's Next? Italy's Monte Paschi Admits To Billions In Deposit Outflows
Bank Failures, Sovereign Bond Collapses, Savers Head for their Mattresses
Clothing prices spiral lower in Canada
High credit card rates costing Canadians a fortune
Bitcoin May Be the Global Economy's Last Safe Haven
Russia Econ Min: Economic Growth Impossible without Monetary Policy Easing -Report
Russia Is Next In Line To Restrict Cash Transactions
France's Hollande wants 75% tax on rich
The price of land development in Cambodia
Argentina puts forward alternative payment plan in bond dispute
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."
Another move to bypass the US dollar. -- RF
Egypt's worsening finances to deter investors
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."
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."
Taiwan's LED manufacturers have all suffered losses: industry sources
Jim Rogers: Put Your Money In Hard Assets, Especially Farmland and Agriculture
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
US Airways Closure Could Shock Region's Economy
Air India's Maharaja to give up pomp, turn no frills airline
Should airlines start charging passengers by the pound?
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."
Shortage of jet 1 fuel cause BA flight to re-route to Tanzania
Spring Air freezes Japan expansion plans over Senkakus turmoil

## Fault lines/flashpoints/powder kegs/military/war drums ##
'Everybody is Doing Business in Iran': Hotel CEO
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."
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."
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."
No end to Italy deadlock despite president's efforts
U.S. Navy Funding Development Of Giant Jellyfish Robot
North Korea tensions: Russia's Lavrov fears 'spiral'
Iraqi cities hit by wave of mosque bombings
With natural gas discoveries, Israel faces geopolitical tangle
Private navy set to tackle piracy threat with convoys
Libya's south teeters toward chaos — and militant extremists
American Special Ops Forces Now Operating in 71 Countries

## 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
Myanmar unrest death toll reaches 43: state media
Land Day in Israel: Burning tires, stones and tear gas as Palestinians clash with IDF
'European Spring' protests shut down by police in Brussels
Bedroom tax: Thousands protest across Scotland
Algeria's southern youth seek oil jobs

## 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."
IMF Report Calls for Governments to Drop $1.9 Trillion Energy Subsidies
Indonesia should ban all private cars from using subsidized fuel: adviser
Romania plans to cut support for renewable energy
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."
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."
Iran sanctions spur boom for Pakistani diesel smugglers
As Pakistan buys Iranian gas India asks if it should, too
Iran Energy Profile: Holds World's Second Largest Natural Gas Reserves – Analysis
The Reward for Being Right About Peak Oil: Scorn Heaped With Derision
Can You Have Too Much Solar Energy?
"Germany's little-guy suppliers are destabilizing big power companies."
Once 'Overhyped and Sexy,' Solar Tumbles Back to Earth
Three major blackouts in three years (Trinidad and Tobago)
African mining facing huge shortage of engineering skills
American shale gas project is a bubble about to burst – Gazprom CEO
Mindanao outages worsen
Optimism over gas may prove elusive (Cyprus)

## Infrastructure scavenging ##
15 manhole covers go missing (Shanghai)

## Got food? ##
About Yellow Jackets and the Benefits of Wasps in the Garden
I can attest to this. -- RF
Farm Rich frozen food products recalled for risk of E. coli
Madagascar Locust Plague Threatens Starvation as Crops Devoured

## Lifestyle Solutions ##
Flowers boost mood, especially for seniors

## Environment/health ##
Dead Pigs, Ducks And Now Black Swans: China's Animal Apocalypse Crosses Into The Twilight Zone
U.S. Regulators to Investigate Mobile Phone Health Issues
Bee deaths stir up renewed buzz
Poor air plagues 90% of cities (China)
Chinese 'river pig' close to extinction: WWF
Exxon pipeline leaks thousands of barrels of Canadian oil in Arkansas
New bird flu strain kills 2 in Shanghai; no vaccine
Deadly floods hit Mauritius capital Port Louis

## 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
Dawn of the civilian drone age promises multiple benefits, peeping-eye concerns
Quarter of U.S. firms in China face data theft: business lobby
'Underwear bomber' was working for the CIA
S. Korea say no more silent camera apps
Police warn of PC ransomware virus
ANALYSIS: Why we need more troops for escalating cyberwar
Letting Down Our Guard With Web Privacy
Saudi Arabia 'may end' Twitter user anonymity
Privacy campaign started against Google Glass

## Systemic breakdown/collapse ##
How high oil prices lead to financial collapse
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."
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."
America's school buildings don't make the grade
"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."
How Cyprus Exposed The Fundamental Flaw Of Fractional Reserve Banking

## Japan ##
The Abenomics Farce Continues
Japan's Diet passes 13.2 tril. yen stopgap budget for fiscal 2013
TEPCO compensation begins
Fukushima N-reactors 'likely to remain inert'
Teijin Now Expects Y30bn Net Loss In FY12
Tokyo Gas To Buy 25% Stake in Texas Shale Gas Project
Osaka NPO revealed to be nuclear power propaganda tool
Internet access criminals hit record high in Japan last year
Japan automakers' domestic output down 15.4% year-on-year in Feb.
Households to pay 108-132 yen monthly surcharge for electricity
Govt to ask 2 utilities to cut power rate hikes
Radiation rumors trigger expanding Fukushima vegetable price collapse
Defense report warns against China
GS Yuasa Crisis Deepens With Mitsubishi Car-Battery Fire
Thyroids test normal in Fukushima, says Environment Ministry
Teens taking 'part-time jobs' as runners for fraud rings
More young people committing suicide in face of harsh job market: report
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."
Marubeni Targets National Park in Japan for Geothermal
Parents unite to fight day care shortages
Abe strikes energy deal with Mongolia in a bid to curb China's clout

## China ##
China set to become world's largest arms dealer
China to spend $16 billion to tackle Beijing pollution crisis
Foxconn Plant in Peanut Field Shows Labor Eroding China Edge
Layoffs trigger panic among Chinese staff of multinationals
San Francisco Fed: Official China GDP Data is OK
"China's National Bureau of Statistics has supporters in San Francisco. Dallas is another story."
Beijing Bans One-Person Households From Buying Second Homes
Beijing, Shanghai Add to Home Curbs as China Acts to Cool Market

## UK ##
Has the UK finally lost its safe haven status?
Horse meat found in six Edinburgh schools
Monthly savings at a record despite squeeze
Post Office strike hits Britain
Bedroom tax will be costly disaster, says housing chief
Coldest Easter Sunday on record, Met Office confirms

## US ##
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."
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
Drought Season's Early Start Presages Another Bleak Year
Arizona Lawmakers Advance Bill Allowing Gold and Silver as Money
Not Housing Recovery, But Housing Inflation
US Savings Rate Near Record Low, Per Capita Disposable Income Almost Back To December 2006 Level
New study puts cost of Afghan and Iraq wars at $4 to $6 trillion
Toys 'R' Us cancels IPO
Dell paints a bleak picture of prospects
Top Pentagon thinker bemoans "civilian subjugation to the military."
DoD: $22B Shortfall in Operations and Maintenance
Economic Indicators Ending March on a Down Note
3 Signs That Municipal Bonds Could Be in Trouble
Debt-Slavery for Dummies
284,000 College Graduates Had Minimum-Wage Jobs Last Year
Current U.S. energy policy: Risk management that is worse than ever

And finally…
Neighbor's note spurs 'tacky' lawn display
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
Cypriot Banks to Open for First Time in 2 Weeks With Curbs
Cyprus capital controls 'may last a month'
Buchheit On Cyprus: "The Situation Is Spiralling Down", And Why A Second Bailout May Be Needed
The Definitive Cyprus Bailout Infographic
After Cyprus, euro zone will slip into depression
South Korea Announces Stimulus After Lowering Growth Outlook
Gasoline prices fuel February spike in inflation (Canada)
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."
Attempt to end Italy crisis stalls, president mulls next move
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."
Emerging-Market Stocks Cap Worst First Quarter Since '08
India's Current-Account Deficit Widened to Record Last Quarter
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."
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."
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."
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."

## 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."
Domestic air tickets to cost more; Air India and Jet Airways hikes fuel surcharge
Dropped scissors causes chaos at Naha Airport (Japan)
AMR loses $192 million in February

## Fault lines/flashpoints/powder kegs/military/war drums ##
India to build new naval base to keep tabs on PLA
US Sends Nuclear-Capable B-2 Stealth Bombers to Intimidate North Korea
UN combat force to target DR Congo rebels
Putin orders large-scale military exercises in Black Sea
Mexican Vigilantes Seize Town, Arrest Police

## 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."
Brazil's Eletrobras posts $3.4 billion loss for 2012
Turning CO2 Directly into Transport Fuels
The article points out one obvious shortcoming; others are cost and scale. -- RF
Chinese Supertanker Visits Iranian Export Terminal
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."
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."
Shale gas bust: 'The Shale Gale Is a Retirement Party'
"So concludes an expert analyst of the natural gas boom. Brace for bust."
Texas study suggests Eagle Ford bonanza
IMF urges region to axe energy subsidies
US likely to lift shale gas embargo to Japan
Indian Coal Imports Rise 35% in February, Interocean Data Show
Fuel Shortage Hits Northern Region (Ghana)
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."
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."

## Got food? ##
Indoor farm goes 'mega' as fledgling industry tries to become more sustainable
Loss of wild pollinators would hit crops, finds study
U.S. wheat struggles with cold spring weather
Food Fraud Hits New Low: Dog Meat In British Curry
Corn Planting at 77-year High (US)

## Lifestyle Solutions ##
is facebook leaving us depressed?

## Environment/health ##
How climate change threatens the seas
Polar bears: An uncertain future
Algae Bloom Kills Record Number Of Florida Manatees
Disease superspreaders and the new coronavirus
Scientists link frozen spring to dramatic Arctic sea ice loss
Sand From Fracking Could Pose Lung Disease Risk To Workers
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."

## Intelligence/propaganda/security/internet/cyberwar ##
U.S. law to restrict government purchases of Chinese IT equipment
'Biggest Cyber Attack In History' Could Have Been Carried Out With Just A Laptop
Millions May Be Affected by Web Disruption in Online Attack
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."
Bitcoin miners hit back at cyber-thieves
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."
Japan police to launch national cyber crime force
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?
DDoS Attack Doesn't Spell Internet Doom: 7 Facts
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"
Spam war caused failure at critical internet exchange center (UK)

## 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."
Austerity threatens EU's competitive edge in infrastructure
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."

## 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 turns to coal as yen drives up energy costs
Japan's population decline highlighted
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
Japan to provide $2.32 billion to India
Panasonic plans $2.7 billion of fresh restructuring
Sony Closes Plant in Gifu Prefecture, More than 1,000 Out of Work
Sharp To Halve HQ Staff To 700
Cut, cut, cut. -- RF
Retail, other sectors' sales slide in Feb.
Renesas plans to skip summer bonuses
More than half of Japanese students see career success as unnecessary
Ssshh! Why Japan Is Keeping Quiet on the Yen

## China ##
China Must Meet Threats at Sea in Power Push, Editorial Says
Vera Wang Backs Down From Wedding-Dress 'Try-On Fee'
China Natural Gas Frenzy Explodes on Price Hike Rumors
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"
China Corporate News: Chalco Posts ¥8b Loss on Low Aluminum Prices; China Eastern Turns to Europeans

## UK ##
Poorest face council tax rise, says anti-poverty group
'Brick up your doors, knock down the walls': Labour MP Frank Field makes dramatic call before 'bedroom tax' hits 
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"

## 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
Higher taxes haven't hurt the rich at all
Hollowed out: US Army fights brain drain
Ruling on Stockton bankruptcy eligibility likely Monday
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 hires law firm to prepare for possible bankruptcy -source
Hunt Becomes Billionaire on Bakken Oil After Bankruptcy
Do millennials stand a chance in the real world?
US economy grew at 0.4 percent rate in fourth quarter, slightly better than previous estimate
Growth is dead. Long live Growth! -- RF
Pump! Standard & Poor's 500 index closes at a record high, beating October 2007 mark
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."
Natural Gas Supply Continues to Fall
Surging Student-Loan Debt Is Crushing the System
More Americans than ever using food stamps
Social Security in the crosshairs

And finally…
Helpline set up for distraught Ryan Gosling fans

Thursday, March 28, 2013


News Links, March 28, 2013

## Global Ponzi meltdown/House of Cards ##
Cyprus: cash withdrawals capped at 300 euros, no checks to be cashed
A Furious Cyprus Begins Investigating Who Breached The Capital Controls
Cyprus Capital Controls First in EU Could Last Years
Greek ferry crews face months without pay as financial crisis batters an iconic industry
Triggers of 2008 financial crash now seen in China
Sovenia: The Next Cyprus?
The Real Doom of the Eurozone Is Italy
Italy's five-year debt costs highest since October
Argentine Supermarkets Extend Price Freeze to Tame Inflation
Canada Consumer Prices Post Fastest Increase Since 1991
Why Are Stores Charging Customers to Browse?
Three (more) things they don't tell you about capitalism
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."
Global Youth Unemployment: a ticking time bomb

## 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."
On Verge Of Bankruptcy, Kingfisher Airlines Loses Airplanes
Airlines pack in passengers at a record rate in 2012
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."
Southwest Airlines: We're Not Really About Cheap Flights Anymore
Boeing 787 faces new risk: limits on extended range: sources
Bankruptcy judge OKs American-US Airways deal
American Airlines Eyes New Perk to Get Us to Ditch the Big Carry-Ons
India's aviation faces hurdles

## Fault lines/flashpoints/powder kegs/military/war drums ##
The Seeds of War Have Been Sown …
Ecuador courts Chinese oil bids for Amazonian land
Syrian opposition opens first embassy, says world lets it down
North Korea to cut all channels with South as 'war may break out any time'
North Korea: Military 'On Alert' to Attack Hawaii, US Mainland
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)
Myanmar Imposes New Curfews Amid Anti-Muslim Violence
Protesters end a day-long siege of Libyan PM's office
China jails 20 on jihad, separatism charges in restive Xinjiang
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)
Your Energy Skyscraper Questions, Answered
Is The Sky The Limit For Wind Power?
"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."
South Africa must cut power use 15%
South Africa Power System in Precarious Balance -Eskom
Prospects for Indian power sector bleak, says Moody's
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."

## Got food? ##
Diesel fuel prices affect food prices
Farmers are Having a Harder Time Getting Food to You
U.S. crops continue drought battle; freeze adds to woes
Starvation, American Style
The True Cost of Industrialized Food

## 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."
Study: Shale Gas Fracking Taints Rivers in Pennsylvania
Arctic change reverberates around globe, experts say
Water escapes Suncor oil sands pond into Athabasca River
One in five French bottled water brands contaminated with drugs
Neonicotinoid pesticides 'damage brains of bees'
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."
Canadian Pacific train derails, spills oil in Minnesota

## Intelligence/propaganda/security/internet/cyberwar ##
Third SEAL breaks silence on death of Osama Bin Laden
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
Saudi Arabia threatens to ban Skype
The Alarming Rise Of 'Digital And Content Pollution'
First-Known Targeted Malware Attack On Android Phones Steals Contacts And Text Messages
UK clearing house suffered 'major' IT outage on New Year's Eve
Ripple effects across Web as spam-blocking group Spamhaus hit by record-smashing cyberattack
Crowd-sensing apps tap every stranger's eyes and ears
Google Glass: An accident waiting to happen?
From Black Hat to Blackouts: Storms in the Cloud
40% of IT Managers Experience Cloud Outage

## Systemic breakdown/collapse ##
South Koreans in Farm U-Turn as Chaebol Era's Rapid Growth Ends
"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
Suicide surge followed Europe's financial crisis
Has Northern Ireland electricity network simply lost its power?

## Japan ##
Japan may be facing cancer time bomb two years after Fukushima
Rock shells disappearing on coast near Fukushima nuclear plant
Elderly 3/11 nuke evacuee deaths spiked
All of Japan's prefectures' populations will be down in 2040 from 2010 levels
Suzuki to stop selling autos in Canada

## China ##
Northwest China facing drought
China Bank Regulator Warns On Bad Loans, Especially To Solar Sector
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."
China's coal power sapping up water supply
Shadow Loans Hard to Squelch in China City Hit by Suicide
Growing social unease in China over right to a good education
Puru Saxena: China's Real Estate Bubble On The Verge Of A Bust

## UK ##
Big five UK banks rue 'dire year' as £11bn of fines erase profit gains
BOE Says U.K. Banks Have a Capital Shortfall of $38 Billion
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
United Kingdom Besieged By Cooking Oil Thieves
Second LNG Super Tanker Arrives in UK to Help with Natural Gas Shortage
Millions of single pensioners worst off on energy bills in 2020, figures show
Egan-Jones Downgrades UK From AA- To A+
UK teacher shortage 'threat to standards'

## 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
The Lords of Capital Seize Detroit
EPA panel to probe hydraulic fracturing
Denver Water Imposes Mandatory Restrictions Over Drought
The Handy-Dandy Investors Crash Loss Calculator
This Housing Recovery Is Different: Investors Are Now Big Buyers
Americans Start New Gold Rush: CNBC Survey
Junior Plans to Milk Parents a Little Longer: Survey

And finally…
$10 fine dropped for swearing cockatoo

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
Cyprus businesses feeling strain as Cyprus bank shutdown enters second week
Great Graphic: The Coming Depression in Cyprus
Cyprus Finance Minister: Uninsured Laiki Depositors Could Face 80% Haircut
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
Ireland to Refinance Banking Debts Through ESM
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?
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

## Airline Death Spiral ##
Australia approves Qantas, Emirates pact

## 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."
Australia to withdraw most of its troops from Afghanistan this year
Horror in Mexico: 7 dead bodies found seated on plastic chairs
China, Vietnam Clash Over Disputed Islands
UN's Ban Recommends Putting 11,200 Peacekeepers in Mali
Gen. Allen: Leaving Afghanistan Was Never an Option
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
Cypriot Youth Rise Up In Pictures: "They Just Got Rid Of All Our Dreams"

## 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."
Two Miles of Sea Covers Big Oil's Next-Generation Field
"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"
Landmark Deal Signed to Export US Shale Gas to the UK
Massive Energy Skyscraper Proposed On U.S.-Mexico Border
Even if it works, it won't be an energy bonanza. -- RF
Iraq sets oil bar too high, lawmaker says
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."
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."
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."
China's bailouts darken horizon for solar panel sector
JA Solar cuts capacity as weak prices lead to another loss

## Got food? ##
Bakers Are Furious About Egypt's Bread Rationing
Plains freeze likely harmed U.S. winter wheat crop

## Environment/health ##
Are Agriculture's Most Popular Insecticides Killing Our Bees?
Unabated, illegal trafficking risks survival of chimpanzees, orangutans, other apes, UN says
Peru declares oil contamination emergency in Amazon jungle region
EPA Survey Finds More Than Half of the Nation's River and Stream Miles in Poor Condition (US)
Nuclear waste a growing headache for South Korea

## Intelligence/propaganda/security/internet/cyberwar ##
For Some, Resistance To Google Glass Is Not Futile
Google Glass facing driving ban before it hits the market
NYC Mayor Bloomberg, Government has right to 'infringe on your freedom'
Wells Fargo: Cyber Attack Disrupting Website

## 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."
Japanese power companies possessed over 26 tons of fissile plutonium at end of 2012
Most new high school textbooks describe Takeshima, Senkaku Islands as Japanese
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."
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
The scariest housing bubble
Chinese Banks' Bad Loan Ratios Shrink as Defaults Averted
Profit sinks at China automaker BYD, sees recovery
The Peak Oil Crisis: The Beijing Syndrome

## UK ##
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'"
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."
Libraries run by volunteers as councils look to save money
Gas crisis: consumers face shock £200 rise in bills as cold weather and snow lead to low fuel reserves
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
Bank Of England's King: Crisis Is Far from Over
The Great British Cash EUxodus Begins

## US ##
Student loan write-offs hit $3 billion in first two months of year
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
Cyprus Bank Grab Happening in US, Slowly
Medical Marijuana Goes Even More Corporate
Into the maelstrom: US coastal population grows as storms intensify
About as smart as building cities in a tsunami zone. -- RF
Pump! Dow hits all-time high -- S&P almost
Georgia and Tennessee go to 'war' over water
Customers Flee Wal-Mart Empty Shelves for Target, Costco
Student Loan Defaults Soar By 36% Compared To Year Ago
Get Ready for Capital Controls, Right here in America
Gulp! Soda Consumption Declines to Lowest Level Since 1996
Where Has Consumer Confidence Gone?
College Grads May Be Stuck in Low-Skill Jobs

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