Thursday, March 14, 2013


News Links, March 15, 2013

## Global Ponzi meltdown/House of Cards ##
China's Debt Bomb
China's Colossal Credit Bubble Next Big Risk: Faber
Merkel Coalition Doomed; Italy Exit Only a Matter of Time?
Portugal in worst recession in 37 years
Global housing bubbles unite: How easy debt has created the first ever worldwide housing boom and bust.
Extremely Difficult to Keep Up With Economic Stupidity
Argentina on Sale
European Employment Drops To 2006 Levels
Renault, unions reach deal to cut costs, jobs
"French carmaker Renault SA reached a potentially groundbreaking deal with leading unions Wednesday that allows it to reduce its workforce and cut costs in exchange for keeping jobs and production in France."
Bankrupt countries are coming after investors
Central banks souring on the dollar
Cost of living doubles in five years (Pakistan)

## Airline Death Spiral ##
Brazil's Gol just can't get passengers on board its planes
"Gol Linhas Aereas Inteligentes SA's turnaround plan is faltering as the airline flies the emptiest jets in Brazil."
Lufthansa to Order Airbus Planes in Fuel-Cost Cut Program
Local airports hit by sequester plans

## Fault lines/flashpoints/powder kegs/military/war drums ##
New Breach in the Sanction Wall? (Iran-Pakistan pipeline)
Iran steps up weapons lifeline to Syria's Assad - envoys
"Iran has significantly stepped up military support to Syrian President Bashar al-Assad in recent months, solidifying its position alongside Russia as the government's lifeline in an increasingly sectarian civil war, Western diplomats said."
West tiptoes into Syrian war hoping to boost more secular rebels
Britain and France 'will arm Syrian rebels'
"Britain and France are prepared to arm Syrian rebels unless the European Union lifts a blanket arms embargo on Syria, David Cameron will tell a Brussels summit today."
Russia Starts Preparing for Zapad-2013 War Games
Navy to get 2 submarines (Bangladesh)
Blasts, clashes kill at least 25 in central Baghdad
"Coordinated blasts killed at least 25 people in the heart of Baghdad on Thursday near the heavily fortified Green Zone, where several Western embassies are located, police and medics said."
Asia's defense spending overtakes Europe's: IISS
"Asia's defense spending overtook Europe's for the first time last year, the  International Institute for Strategic Studies (IISS) said on Thursday, reflecting China's military rise and shrinking European economies."
U.S. Drone Over Persian Gulf Pursued by Iranian Jet
Active-duty troops to deploy to Kosovo for first time in a decade

## Global unrest/mob rule/angry people/torches and pitchforks ##
Protesters, policemen injured in Bahrain clashes
Fourth Bulgarian protester sets himself on fire

## Energy/resources ##
National blackout looms in Nigeria
Toyota Thailand to cease operations April 5 to alleviate power outage
Iran Increases Oil Exports, Despite New US Sanctions
U.S. imposes sanctions on covert Iranian oil-shipping network
Is the U.S. Oil Boom About to Bust?
UK Seabed Resources joins deep-ocean mineral-mining rush
UK firm in deep sea mining plan for minerals (BBC video)
Solid Energy opposed Government's debt plan (New Zealand)
Colombian rebels blow up biggest coal exporter's railway
New York to seek power in case nuclear plant closes
Clean Edge: Solar PV industry revenues fall 19% in 2012
PEAK OIL: Challenges and opportunities for the GCC countries
Coal strikes threaten South Africa's power supply

## Got food? ##
The Real Cost of Starting a Year-Round Garden
Beekeeping relieves land degradation in Kyrgyzstan

## Lifestyle Solutions ##
Plowing with Pigs ~ A Book Review
The Rocky Transition to a Natural, Gift Economy

## Environment/health ##
Has Japan Doomed the Planet by Starting to Extract Methane Hydrates?
While the release of methane is a legitimate concern, it is highly unlikely that methane hydrates can be extracted profitably. Don't start worrying yet. -- RF
Scientists find how deadly new virus infects human cells
"Scientists have worked out how a deadly new virus which was unknown in humans until last year is able to infect human cells and cause severe, potentially fatal damage to the lungs."
Bed bugs 'dodge insecticides' with molecular tricks
Report: India's coal power a killer
Sharks, mantas, rhinos and elephants get global help
Potential Cost Of A Nuclear Accident? So High It's A Secret!

## Intelligence/propaganda/security/internet/cyberwar ##
As cyber threats build against U.S., CEOs ask for 'light touch'
Pentagon's 13 Offensive 'Cyberattack' Teams to Strike Across the World
"Cyber Command chief General Keith Alexander has unveiled some new information about the nation's cyberwarfare policy, revealing in a Senate hearing the creation of 13 "cyberattack" teams, which he dubbed part of the "cyber cadre," that are authorized to engage in preemptive cyberwarfare across the planet."
Private surveillance companies flock to Arizona's annual Border Security Expo for their slice of multi-billion dollar industry
Al-Qaeda lacks expertise for cyberwar, expert tells MPs
Reuters Journalist Charged With 'Conspiring' With Anonymous
Satellite Shortages May Choke Off Military Drone Expansion

## Systemic breakdown/collapse ##
Hurt by aging US and fragile economy, 1 in 3 counties now dying; immigrants avert some losses
"A record number of U.S. counties - more than 1 in 3 - are now dying off, hit by an aging population and weakened local economies that are spurring young adults to seek jobs and build families elsewhere."
The Coming Collapse of the Middle East?
Could Phoenix Soon Become Uninhabitable?

## Japan ##
Japan faces higher fuel bill as nuclear shutdown enters 3rd year
Japan's 2% Inflation Target Unattainable, Nomura's Kendrick Says
Nippon Steel To Hike H-Beam Price By 7% Next Month
Tsunami trash a long-term hazard
Fewer new Tokyo condos up for sale
"The number of new condominiums put up for sale in February in the greater Tokyo area slumped 10.9 percent from a year earlier to 3,491 units, a fall for the sixth straight month, a private research agency said Thursday."
Industrial output revised downward
"Industrial output actually grew a seasonally adjusted 0.3 percent instead of 1.0 in January, the Ministry of Economy, Trade and Industry said in a revision Thursday."
U.S.: Japan kept as Iran sanctions exception
Hagoromo Foods to raise tuna prices
"The hikes will affect most products in the company's Sea Chicken canned tuna series, Hagoromo Foods said Wednesday. The move comes as Hagoromo Foods struggles with soaring prices for yellowfin tuna and bonito, as well as the weaker yen."
Panasonic considers allowance cuts; Fujitsu may postpone wage hike
'Shadow units' (6): SDF members exposed to high radiation levels in reactor explosion

## China ##
China's property bubble will burst in latter half of 2013, says research firm
China PBOC Set to Drain Liquidity
"China's central bank is poised to drain funds from the financial system for a fourth straight week this week, continuing an effort to guide market interest rates higher as policymakers appear more wary of inflationary pressures."
Report: China developing advanced drone fleet
Zhou: 20% financing vehicles prone to risk
"CHINA'S central bank Governor Zhou Xiaochuan warned yesterday that about 20 percent of local government financing vehicles were not profitable and were vulnerable to risks."
China Mobile profit rises just 2.7 percent as costs, competition take toll on phone carrier
Credit crunch stifles Chinese energy savings sector
"A credit crunch is stifling thousands of mostly small, private companies in China that coax energy savings from smokestack industries, further dealing a blow to Beijing's drive to foster green innovation and ease choking pollution."
Shanghai's tide of dead pigs stirs wider concerns in China
Suntech Falls as Maxim Predicts 'Likely' Default, Bankruptcy
The Coming End of Suntech

## UK ##
Companies are snapping up their own shares – be afraid
UK woefully under-prepared for ageing society, say peers
Fifth of the country's roads have potholes
Pork DNA in halal sausages at Westminster primary school

## US ##
Younger boomers suffer from homelessness
"On any given night, more than 600,000 people are homeless on U.S. streets and some estimate about a third are 47 or older -- baby boomers, experts say."
US (and Booming Market) Adds 300,000 New Millionaires
Bankruptcy expert who helped steer Chrysler restructuring named Detroit emergency manager
Iraq war costs U.S. more than $2 trillion: study
"The U.S. war in Iraq has cost $1.7 trillion with an additional $490 billion in benefits owed to war veterans, expenses that could grow to more than $6 trillion over the next four decades counting interest, a study released on Thursday said."
US gov't reverses itself, says thousands of illegal immigrants freed from jails in budget cuts
Pump! Dow climbs for 10 days straight, Standard & Poor's 500 closes within two points of record high
Postal Service Urged to Weigh Contracting Most Operations
On The Progressing Extinction Of The US Middle Class
Denial Is Not Just A River In Egypt: 10 Hilarious Examples Of How Clueless Our Leaders Are About The Economy
Senate on London Whale: Worse than we thought
More US States Weigh Gasoline Taxes
"Because they hit everyone, gas taxes are widely disliked and rarely increased. But after decades of underinvestment in roads, bridges and public transport, states face heavy infrastructure costs and lack the money to handle them."
The Real Bank Bailout Is Happening Right Now

And finally…
Seattle dive bar becomes first to ban Google Glass
The Great Geithner: Ex-Treasury Secretary Gets Bailout Book Deal
Oops! When Live TV Goes Bad

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