Sunday, March 17, 2013


News Links, March 17-18, 2013

## Global Ponzi meltdown/House of Cards ##
Cyprus gets $13 bn rescue loan package from EU, IMF; bank depositors being taxed to contribute
Contagion-Begging Actions; Expect Bank Runs Following Cyprus Idiocy; Have Money in a Spanish Bank? Take It Out Now!
EU bailout terms spark bank run in Cyprus
Bulldozer Parks Outside A Cyprus Bank - Full Video
Bank Run in Cyprus; Who's Next?
Cyprus Bailout: Welcome To Another Great Depression
Raid on Cypriot deposits shakes Europeans' faith in savings
Central Bank of Cyprus orders island's lenders to block customers' transfers
Cyprus Details: Blackmail, Bulldozer Threats, Bank Holiday to Tuesday; Calls to Exit Eurozone; Reflections on Arrogance and Idiocy
For Everyone Shocked By What Just Happened... And Why This Is Just The Beginning
Canadians turns deaf ear to Carney's warnings as household debt hits fresh record at 165%
Global Currency War: The Pacific Theater
IMF: Eurozone Banks Are In Trouble, Trample Taxpayers and Democracy To Bail Them Out!
Eurozone employment hastens downward spiral
European economy struggles under debt and staggering unemployment
Nigeria's Inflation Rate Climbs to 9.5% in February
BRICs Abandoned by Locals as Fund Outflows Reach 1996 High
IMF officials in Egypt resume talks for $4.8 billion loan after delay and political unrest
Why Europe's Steel Industry Is In Structural Long-Term Oversupply
Noonan says mortgage system will collapse without repossessions (Ireland)
Drought may cost the country $2bn - English (New Zealand)
Collapse of oilsands boom will scramble Canadian economy
Inflation recalls ghosts of Arab spring
BIS concerned markets getting hooked on stimulus
German Commerzbank Suggests Wealth Tax In Italy Next

## Airline Death Spiral ##
Airlines losing confidence in UK market
Another major Nigerian airline halts flights
Lufthansa hopes to keep profits flying despite turbulence
"German flag carrier Lufthansa said on March 14 it hoped to improve operating profit and turnover next year despite turbulent times, as it announced a 36-percent drop in operating profit in 2012. Operating profit plunged by 36.1 percent compared with the previous year to stand at 524 million euros ($679 million) - a decline the firm blamed on a much higher fuel bill than in 2012."
Emergency landing of a nightmare flight across the Atlantic
"Observer journalist Ed Vulliamy recounts being in the middle of a traumatic flight and emergency landing as a campaigner warns incidents like this are growing as airlines' budgets are squeezed."
Emirates asks for fuel surcharge hike
Aero Airlines loses N600m to strike

## Fault lines/flashpoints/powder kegs/military/war drums ##
Violence in Iraq goes up despite US pull out, as freed prisoners rejoin militias
North Korea tells South to leave islands
Under Xi, China seeks to cool row with Japan over islands
"In a break from months of saber rattling, China under new President Xi Jinping appears to be moderating its approach to a potentially explosive territorial dispute with Japan and taking measures to prevent accidental conflict."
CIA begins sizing up Islamic extremists in Syria for drone strikes
North Korea fires missiles during U.S.-South Korea military exercise
North Korea Warns Citizens To Evacuate Border Region (BBC video)
U.S. worried about deteriorating security in Central African Republic
US scraps final phase of European missile shield
Russian lawmaker not reassured by U.S. missile defense plan
Israel to define itself as 'national state of Jewish people' - despite Arab population

## Global unrest/mob rule/angry people/torches and pitchforks ##
Saudi cleric issues rare warning in call for reform
"One of Saudi Arabia's leading clerics has delivered a rare warning to the government that it could face 'the spark of violence' if concerns over detainees, poor services and corruption are not addressed."
Opposition group plans protests in Russia
"Abolish austerity" Brussels protesters tell EU leaders
Bedroom tax protests across the UK
"Thousands turn out across the UK to protest against a new tax imposed on council house residents deemed to have a spare bedroom."
Thousands rally in Budapest for democratic rights
Canada aboriginal movement poses new threat to miners
"An aboriginal protest movement that's often compared with Occupy Wall Street has the potential to disrupt mining projects across Canada, threatening to undermine the country's coveted reputation for low-risk resource development."
Egyptian villagers beat two accused criminals to death
"Egyptian villagers on Sunday beat to death two men accused of violent crime and hung their bodies from a lamppost, in one of the country's most gruesome examples of vigilante justice."

## Energy/resources ##
Depletion: The one word oil optimists refuse to utter
"For now, the oil industry is on a treadmill which requires ever more drilling just to keep production even."
Iraq war and its aftermath failed to stop the beginning of peak oil in 2005
FALKLAND ISLANDS: The Real Threat—Disappointing Drilling
BRAZIL: Oil Production Threatened by New Royalties Law
Telling the Real Fracking Story
Suntech Said to Get Default Notice on $541 Million Unpaid Bonds
The world is witnessing a major change in its energy situation
Why we'll never see a $20 barrel of oil again
"The commodity super-cycle – in which commodity prices reach ever-higher highs, and fall only to higher lows – isn't over. Despite the euphoria around shale gas – indeed, despite weak global growth – commodity prices have risen by as much as 150 per cent in the aftermath of the financial crisis."
Kazakh Refinery to Dye Diesel Red to Combat Embezzlement
Biofuels: The Cup Is Half Empty
"Two economists study the results of U.S. biofuel production. Sold as key to energy independence and rural development, biofuels thus far have been a costly failure."
Man creates car that runs on liquid air
No mention of how much energy is expended in liquefying air. -- RF
Russia asked to double oil flow to China

## Infrastructure scavenging ##
Thieves steal entire bridge in Turkish province
Police investigate rash of air conditioner thefts

## Got food? ##
Britain's farming crisis: 'People don't realise how tough everything is'
"Crippling costs, bad weather and disease have hit the countryside hard – and left the future of British food in jeopardy, say the farmers fighting for survival"
Quality of Beef – Nothing But Drugs and More Drugs
Drought causes worldwide olive shortage
Maize output may drop due to 30% costs rise (Kenya)
"Maize production may drop this year due to high costs of farm inputs including fertilizer and seeds, experts in the agricultural sector have warned."
'Farmers spend 25% on chemical fertilizers' (India)
Montana wheat farmers say prices could drive up grocery bills

## Environment/health ##
BP Seeks to Halt Some Gulf Oil-Spill Settlement Payments
Hungary sends in tanks as cold snap grips E Europe
Coronavirus: Is this the next pandemic?
Collapse of antibiotics 'colossal threat'
On a wing and without a prayer – the decline of the monarch butterfly
Collapse of salt mine serves as cautionary tale on fracking

## Intelligence/propaganda/security/internet/cyberwar ##
"Ratters" – They Watch Through Your Webcam
Smartphones Are Eating the World
U.S. spy agency holds contest to find young hackers
As U.S. drone monopoly frays, Obama seeks global rules
Google Glass: The opposition grows
Environment Ministry website hacked to download virus (Japan)

## Systemic breakdown/collapse ##
Software glitch behind métro shutdown All four lines down simultaneously for more than an hour (Montreal)
Fresh warnings of eventual financial system collapse
Welfare costs rapidly escalating – everywhere
The End of Growth (Jeff Rubin and David Suzuki)
What's efficiency got to do with capitalism? Nothing.
Why the U.S. is F'ed up, and what to do about it

## Japan ##
Record radioactivity found in Fukushima fish
Tepco may spend more to restart Niigata plant
Abe vows to change constitution, reestablish 'proud Japan'
Playing the nationalism card to rally the populace around a collapsing economy. -- RF
Abe positions next 5 years as 'emergency structural reform period'
'Bad' student loans hit 475 bil. yen / Borrowers struggling to repay amid lower earnings, sluggish economy
Dr. Pflugbeil and Prof.Eichhorn visits Fukushima refugees in Matsumoto City

## China ##
China: 'Airpocalypse' Now
China May Tighten Policies to Contain Growing Risks, Nomura Says
"China will probably tighten policies this year to contain the growing risks of a "systemic" financial crisis, according to Nomura Holdings Inc.
"China is displaying the same three symptoms that Japan, the U.S. and parts of Europe showed before their respective financial crises, economists Zhang Zhiwei and Wendy Chen wrote in note dated yesterday. These signs are a rapid build-up of leverage, elevated property prices and a decline in potential economic growth, they said."
China Environment Ministry Not Breathing Easy
Authorities dismiss Zhejiang swine epidemic, more dead pigs surface
China's Solyndra Implodes
Chinese officials admit to MSDF radar lock allegations
China invests $2 billion in Latin America via IDB

## UK ##
No respite in weather as wintry conditions expected to continue into April
UK farmers face disaster as 'perfect storm' strikes
"Prince's Countryside Fund says agriculture is confronting a worse crisis than the foot-and-mouth outbreak of 2001"
Drones will be used to boost security at G8 summit

## US ##
AT&T Says It's Open to Sale of Assets
Fed's Fisher: Too-big-to-fail banks are "crony" capitalists
"The largest U.S. banks are 'practitioners of crony capitalism,' need to be broken up to ensure they are no longer considered too big to fail, and continue to threaten financial stability, a top Federal Reserve official said on Saturday."
Eagle Ford Shale Boom Fuels 'Madhouse' in South Texas Counties
EIA: Above-average US nuclear power outages persist in 2013
Looming physician shortage prompts turf wars
Road funds on empty; more states weigh gasoline tax hikes
The High Cost of Higher Education Explained in One Simple Graphic

And finally…
Russian Tycoon Aims to Make Immortality a Reality Using Robots
Must-have: Darth Vader head planetarium

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