Sunday, March 24, 2013


News Links, March 24-25, 2013

## Global Ponzi meltdown/House of Cards ##
Forget Cyprus, Japan Is The Real Crisis
"Given its over-indebtedness, Japan has few good options left. But the policies being pursued by Shinzo Abe will fast-forward a major debt and currency crisis. It's a matter of when, not if."
The Government Debt Situation Japan: A Catastrophe Waiting To Happen
South Korea Escalates Concern With Japan Policies as Yen Slides
Boeing to drop up to 2,300 workers
Unsecured Depositors Of The World, Unite... And Get The Hell Out Of These Countries
Moody's lowers three Cypriot banks another notch
Cyprus Teeters on Brink as Euro Chiefs Battle Crisis
Meanwhile, Cash Exodus From Cyprus Surges Despite Bank Closures, Capital Controls
No Matter Outcome, Cyprus Crisis Is Blow to Business
New Critical Warning as 2013 shocker looms: We are at a market top and an economic turning point
By The Time Obama Leaves Office, U.S. No Longer No. 1
Europe's Bonus Clampdown Hits Two-Thirds of Fund Managers
Gold Giants Shrink to Fit as Paulson Pushes Breakup: Commodities
Is GDP the right way to measure progress? One economist says no
Silver prices before the monetary collapse
"Has the silver market been pricing in the coming collapse? In a word, no!"
Europe may not solve debt woes in 10 years: China Finance Minister
"China's new finance minister said on Sunday it was unclear whether the Euro zone would solve its debt problems over the next decade and suggested further turmoil would complicate efforts to reduce Beijing's fiscal deficits."
The end of Indian IT staffing as we know it
IMF draft cuts 2013 U.S. growth forecast: report
Swiss gold reserves make TV appearance hours after repatriation petitions are filed
Switzerland Next: Swiss Banks Set To Forward Confidential Bank Client Data To U.S. Officials

## Airline Death Spiral ##
The Great Seat Squeeze: How airlines are trying to pack more people on a plane without anybody knowing
Japan Airlines may buy 20 Airbus A350 jets: Nikkei
"Japan Airlines Co may buy about 20 A350 jets from Airbus for around 400 billion yen ($4.23 billion), the Nikkei daily reported on Sunday, a move that would reduce its reliance on Boeing."
ANA puts off retirement of Boeing 747, three jets amid Dreamliner woes
Sky's the limit? Southeast Asia budget airlines bet big on growth (Oh boy!)
Estonian Air records 49 mln euro loss
"The Estonian Air on Thursday reported a record net loss of 49.2 million euros (about 63.4 million U.S. dollars) for 2012 on the back of years of heavy losses, dealing another fatal strike to the illy-operated airlines."
Latam Airlines Declines in Santiago on Quarterly Loss
EgyptAir terminates all flights to Japan
"Egypt's national airline will cease flights to Japan until further notice because of massive economic losses and a lack of support from both governments."
A Strange Tale: How Muni Bonds Will Become Shares Of The Largest Airline
Computer outage delays flights (KSA)

## Fault lines/flashpoints/powder kegs/military/war drums ##
IRAQ: Flashpoint Nineveh
Lebanon's government collapses as Miqati cabinet resigns
India concerned by China's expansion of maritime influence
China to attend major U.S.-hosted naval exercises, but role limited
Central African Republic rebels in capital, France sends troops
Rebels reach presidential palace in Central African Republic's capital
Mexican police officers gunned down in Guerrero state
Congolese Militia Seizes UN Compound in Katanga's Lubumbashi
Russian tycoon Boris Berezovsky found dead in U.K.
Shifting from Washington to Beijing consensus – have we got it right? (Sri Lanka)
At least 2m expats in Saudi to lose jobs - report
No agreement to halt Iranian arms
Kerry tells Iraq it shouldn't allow Iranian overfights to Syria, calls for unity
"Just days after the 10th anniversary of the U.S. invasion of Iraq, U.S. Secretary of State John Kerry confronted Baghdad for continuing to grant Iran access to its airspace and said Iraq's behavior was raising questions about its reliability as a partner."
No need to remind anyone here that Iran was the real winner of the Iraq war. -- RF
Africa's trade ties with China in spotlight as President Xi visits
Israel fires into Syria after Golan attack on troops
Saudi King Gifting Land Undercuts Homebuilding Promises
Real liars go to Tehran

## Global unrest/mob rule/angry people/torches and pitchforks ##
In Saudi Arabia, Shiite Muslims Challenge Ban On Protests
Egypt's opposition protesters clash with Islamists

## Energy/resources ##
What if Africa were to become the hub for global science?
It's all a matter of energy. Where will energy concentrate? That is the sine qua non of industrial science. -- RF
South African mining threatened by electricity shortage
"South Africa's platinum and gold production is threatened by an impending electricity shortage that will be the worst in five years"
For starters, I don't see any big concentration of energy in South Africa. -- RF
U.N. chief warns of growing water scarcity
Mexico's Pemex says output, exports dip in Feb
Awash in Misinformation: America's Domestic Tight Oil 'Bump'
Will the final blow for America's shale gas 'revolution' be high prices?
Great Ready For The Big One - Bakken Flooding Coming This Year?
Taiwan to phase out nuclear program by 2055
Coal shortage hindering overall growth (India)
Fear about electricity shortage blazed up (Vietnam)
Outages surge as generation plunges (Pakistan)
"The average daily shortfall between demand and supply of electricity continued to be as high as 4,300 mw during last three months while the existing dependable power generation capacity of about 4,000 mw was not being used due to non-availability of fuel."
Mindanao, beset by outages, sees no need for Earth Hour (Philippines)
Suntech Collapse Stokes Solar Volatility: China Overnight
The ExxonMobil Future - A Review
Oil Theft: ENI, Shell Halt Production (Nigeria)
Summer power crunch looms large in AP (India)
As diesel shortages continue, impact becomes broader (Egypt)
Outages bring Earth Hour in Mindanao daily (Philippines)
"To millions of Mindanao residents, Earth Hour Day is an everyday experience due to the ongoing power crisis that has them sweltering especially with the start of the summer season as a result of electrical outages lasting as long as 10 hours in some areas."
Jeddah needs special plan to meet electricity demand (KSA)
Gas shortage hurting regional industries: Manufacturing Australia
Israel's electric grid may not have the power to meet consumer demands
"While a power-hungry population demands more and more energy, the Israel Electric Corporation, burdened by debts, is cutting investment in its transmission network."

## Infrastructure scavenging ##
Manhole covers a must-have for thieves?
Bridges become the hottest new item for thieves to steal

## Got food? ##
Heirloom Potato Varieties
"Learn all there is to know about planting seed potatoes, warding off potato pests, gently harvesting your spuds and storing these rare heirloom potato varieties."
Wheat adds to Egypt's growing economic woes
Breaking Taboos with Horse Meat and Locusts
Backyard Chickens: Cute, Trendy Spreaders Of Salmonella

## Environment/health ##
UK weather: flooding and spring snow
Severe U.S. storm brings heavy snow, baseball-sized hail
Study: 14 percent of childhood asthma may be caused by traffic pollution
Study: Eating Too Much Salt is Killing Us By the Millions

## Intelligence/propaganda/security/internet/cyberwar ##
Microsoft details global police data requests
"More than 75,000 requests were made by police forces around the world for data on Microsoft users in 2012."
Confident In The Security Of Skype And Other Encrypted Services?
Apple Yanks Down iForgot Password System Over Security Flaw
The computer knows who you are: Peril, promise and the price of predictive technology

## Systemic breakdown/collapse ##
'Farmscrapers' take eco-friendly architecture to dizzying heights in China
OMG, this is just awful. What will the industrial mindset come up with next? -- RF
Drug shortages take heavy toll on cancer patient care
Massive rise in disruptive behaviour, warn teachers (UK)
RI + New England's Crumbling Infrastructure Costs Drivers Billions (slide show)

## Japan ##
Hokkaido Electric Eyes Power Rate Hike in Sept.
Fukushima worker "Power outage frequently happens in Fukushima plant"
TEPCO owes over 10 billion yen to gov't in unpaid decontamination costs
Fukushima cleanup contractors told workers to lie about pay in 'surprise' inspections
Fukushima Lawsuit Reveals Price of 'Abenomics'
'Abenomics' doing little to boost hiring plans for fiscal 2014: survey
Major retailers' Feb. sales down 5.5%
Japan Atomic Power won't recruit class of 2014

## China ##
'Terrible consequences' if China's property bubble bursts: Vanke boss
Overseas offspring of Chinese leaders summoned home
"Shortly before and after the Communist Party's 18th National Congress in November last year, many offspring of leaders have returned, also selling their houses and cars as well as cancelling their bank accounts abroad, the paper said."
163 more dead pigs found in river, total now 10,733
Chinese people, goods and money pouring into South Africa

## UK ##
Britain faces the prospect of gas rationing for the first time
Gas imports not enough to keep home fires burning
Qatari tankers sail to the rescue of Britain's gas supply crisis
"The UK is working at 40 per cent above its usual gas capacity for the time of year as thousands of homes remain without power"
Drawn-out winter may have caused thousands of extra deaths
"As the country was subjected to the worst March snowfall in over 30 years, official figures showed that there were more than 4,000 extra deaths in just five weeks as the wintry conditions persisted."
Armed Forces and police to face further spending cuts, Danny Alexander warns
Ukip urges Brits to withdraw their money from Spanish banks
"Nigel Farage has urged British expatriates in Spain to pull their money out of the country's banks."
British travel, power upset by heavy snow
Patients are at risk as hospitals axe 5,000 nurses, warns union
Parish street lights to be switched off

## US ##
Stockton Creditors Face Long Odds to End City Bankruptcy
Powerball jackpot of $320 million expected to climb
This system is emblematic of America's winner-take-all mentality. It should be redesigned to split the winnings among many people and redistribute wealth. -- RF
Ailing San Onofre nuclear power plant seeks summer restart, considers new strategy
Military-style drones will patrol NYC: Bloomberg
Federal Government Cover-Up Of Ammunition Buys Implodes
Texas Wants Its Gold Back From The Fed
Thrifty US truckers wary of pricey natural gas vehicles
Sequestration's Effects Felt at Nation's Air Shows
A 'grand bargain' doesn't add up
Of course it's never going to add up. And in fact, under a system characterized by infinite growth, fractional-reserve lending, and fiat currencies, you know from the get-go that when you reach the bottom line, it's not going to add up. We've been dancing for a long time, and now the fiddler is demanding his due. -- RF
Broke and ashamed: Many won't take handouts despite need
Budget Deal Opens 'Age of Austerity' for Federal Agencies
Black market growing as states mull cigarette tax increases
Biggest Issue Facing America? 'Poverty' Say 2 Troy Teens In C-Span Video
Growing Consumer Spending Suggests Surging Shadow Economy

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