Monday, March 18, 2013


News Links, March 19, 2013

## Global Ponzi meltdown/House of Cards ##
Australia Faces 'Massive Hit' to Government Revenue, Swan Says
"Australia faces a 'massive hit' to government revenue, pushing the nation further into deficit ahead of an election in September, Treasurer Wayne Swan said."
OECD Enables Companies to Avoid $100 Billion in Taxes
Solar giant Suntech announces $541 million bond default, search for financing
Emerging Stocks Fall to Three-Month Low on Cyprus; Micex Tumbles
Bank of Israel: Public's savings are too exposed to risk
After The Banksters Steal Money From Bank Accounts In Cyprus They Will Start Doing It EVERYWHERE
The Rape Of Cyprus By The European Union & The IMF
European Leaders Urge Cyprus Not To Tax Bank Accounts With Less Than 100,000 Euros
Cyprus Banks Closed Until Thursday; "Solution is Feasible, Can Be Extrapolated to Spain", Says Spanish Economist; Lies of the Day
Goldman: Cyprus deposit tax could spread across Europe
Why the Cyprus Bail In Is a Bigger Deal Than You Think
Ericsson, STMicroelectronics to cut 1,600 jobs as part of joint venture split
AstraZeneca restructuring will eliminate 1,600 jobs in US, UK and relocate global HQ by 2016
Swiss Flight To Safety Largest In 7 Months
Saudi- Underground economy poses challenge for national development

## Airline Death Spiral ##
Boeing puts 787 battery through tough tests it once avoided
Bahamasair continues to lose money
Latam Airlines Likely to Post 4th-Quarter Loss as Brazil Operations Weigh -Analysts

## Fault lines/flashpoints/powder kegs/military/war drums ##
Israel Will Press Obama to Attack Syria
Iran launches destroyer in Caspian Sea
Saudi- Housing woes under focus as economic forum opens today
China replaces Britain in world's top five arms exporters: report
Israel to build desert mega-bases, freeing up land in Tel Aviv
"Israel's military plans to vacate land worth $14 billion and move most of its headquarters from the heart of Tel Aviv in a $7 billion project intended to alleviate an acute national shortage of room for housing."
253,000 U.S. guns smuggled to Mexico annually, study finds
Greece: A Gathering Storm Threatens Europe and America
Chinese government denies report that military admitted to using weapons radar
Japan protests to France over military sales to China
Iraq Port City Focus of Attacks That Leave 13 Killed, 26 Wounded

## Global unrest/mob rule/angry people/torches and pitchforks ##
S&P warns of socially explosive situation in euro zone
Analysis: Europe's social shock-absorbers show crisis strain
IMF Official's Egypt Visit Marked by More Unrest
Unrest growing at Guantanamo
Human Rights Report Underlines Increasing Unrest in China
Protesters detained on Russia's Red Square
Tunisian cab drivers go on strike
"A union leader in Tunisia said taxi drivers would be on strike Monday to protest a 63 cent per liter increase in fuel prices."
Farmers descend on Jantar Mantar with a slew of demands (India)

## Energy/resources ##
Fukushima nuclear power plant suffers outage, fuel pool cooling stops
Loadshedding will not end till 2019 (Pakistan)
New blow to Eskom as software for Medupi fails (South Africa)
"Eskom is in a race against time to bring the first unit of Medupi on line by December to relieve South Africa's tightly constrained energy supply. Without Medupi, the country faces a serious threat of blackouts and load-shedding next year, raising fears of a repeat of the serious effects on the economy in 2008."
Power failure in northern district, 15,000 households affected (Macau)
Power restored after large outage (Indianapolis)
Our Energy Predicament in Charts
We Must Defuse the Subsidy Time Bomb (Indonesia)
Naimi Says $100 Crude Oil Is Reasonable Price
SNAKE OIL: How Big Energy's Misleading Promise of Plenty Imperils Our Future
Ethanol Supply, Demand Dwindles, But Price Remains High
Up to 20% of Brazil Center-South Cane Mills May Be Shut or Sold
"As much as a fifth of the sugar- cane mills in Brazil's center south, the world's biggest producing region, may close or get sold this year because they are selling ethanol at a loss, according to a member of the country's lower house."
Oh, this was going to be a big success, you know, because Brazilian sugar-cane ethanol can be produced at a much better energy return (8:1?) than corn ethanol. But now this is falling apart, too. Even 8:1 is not good enough to keep industrial society running. -- RF
Fill It up With… Deathanol!
2008 to 2013: average fuel price rose by 100 percent (Pakistan)

## Got food? ##
New Zealand Milk Supplies Seen Slowing on Drought, Rabobank Says

## Environment/health ##
Air quality in major cities worsening (Pakistan)
Drug-resistant pandemic swine flu 'community risk'

## Intelligence/propaganda/security/internet/cyberwar ##
China 2, U.S. Zero
Iraq: The Spies Who Fooled the World
Who are the media kidding? It was clear from the outset that the story was all a pack of lies. -- RF
Mobile wallet technology raises privacy, security concerns
Fujitsu unveils smartphone that checks users' pulse by scanning their face
Domestic Drones Stir Imaginations, and Concerns

## Systemic breakdown/collapse ##
Most Canadians unaware urban water infrastructure is crumbling: survey
Analysis: No quick fix for Britain's overloaded infrastructure
What Really Killed Soviet Union? Oil Shock?
"Red Empire just ran out of fuel, say growing number of experts."
Government 'needs to counter engineering shortage now'

## Japan ##
Crippled Fukushima nuclear plant suffers blackout
"A power failure at the tsunami-damaged Fukushima Daiichi nuclear plant on Monday night has left three fuel storage pools without fresh cooling water for hours, the plant's operator said."
Japanese students deep in debt with $5 billion in loans
EIA weighs post-earthquake Japan
"Japanese use of fossil fuels for electricity increased 21 percent last year from 2011 levels because of the lack of nuclear power, an EIA report said."
Panasonic may drop healthcare business, plasma TV manufacturing to cut costs
Preparations For Nankai Quake Hamstrung By Lack Of Funds
Concern As Contractor Refuses To Provide School Lunches When Faced With Radiation Checks
10 power firms record lower sales in February

## China ##
Moody's Sees Defaults as PBOC Warns on Local Risks
"Moody's Investor Services said China's local-government financing vehicles face greater risk of default, as regulators warn 20 percent of their loans are risky."
China to tighten screws on local government financing platforms
China Average Home Prices Accelerate
Xi promises effort achieve 'Chinese dream'
China - WEEK 11 - In Free Fall
"Chinese steel market's unending tale of woes has become drearier during last 30 days, since post Lunar Holiday opening, with 3% drop amplifying sentiments among market players that 'Looking for a clue in the mainland maze is as good as searching for needle in haystack.'"
New HK units cheaper than second-hand ones due to property curbs
Mainland China's First Default Raises Specter Of China's Credit Bubble Collapse
China Seen Canceling Subsidy for Largest Solar Projects: Energy
Li Urges Paring State Role to Fuel 7.5% China Growth
"Chinese Premier Li Keqiang pledged to open the economy to more market forces and strip power from the government to achieve 7.5 percent annual growth through 2020 and spread the benefits of the nation's expansion."

## UK ##
Dairy profits drop by 13% as outlook 'remains bleak'
Cyprus bail-out: British Service personnel facing loss of savings
Cyprus bail-out: Britons face prospect of savings raid and property prices plunging

## US ##
Muni bonds collapsing! What it means …
Bankrupt Alabama county eyes debt cuts topping $1 billion
Detroit bankruptcy would be largest
Jobless rates increased in half of US states in January, reflecting slower hiring
Why The Crisis In Cyprus May End Up Hurting You Too 
Fed to signal it will keep punch bowl full
"The Federal Reserve will use its policy meeting next week to try to convince investors that it has no intention of slowing down or ending its ultra-loose monetary policy anytime soon."
Suddenly, Things Are Going "Terribly Wrong" for the Big Banks
Grandparents paying for grandkids' college educations
The New Underground Economy
Smith & Wesson Files to Raise Up to $250 Million in New Capital

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