Monday, March 25, 2013

 

News Links, March 26, 2013

## Global Ponzi meltdown/House of Cards ##
Last-minute Cyprus deal to close bank, force losses
"Cyprus clinched a last-ditch deal with international lenders to shut down its second largest bank and inflict heavy losses on uninsured depositors, including wealthy Russians, in return for a 10 billion euro ($13 billion) bailout."
Bad Bank Losses 30-90%; Food Supplies Down to Two Days; Plenty of Fuel, Not enough Cash
Cypriots Mourn Collapse of Livelihoods as Bailout Crushes Banks
Regulators Prepare for Run on Cypriot Banks; Two Largest Banks Remain Shut, Others Open Tomorrow
Detail of EU/IMF bailout agreement with Cyprus
Next Up For Cyprus: Depression
How the European Union killed Cyprus in one day
Banks In Europe May Now Seize Deposits To Cover Their Gambling Losses
Spain's Swelling Debt Seen Impeding Rajoy Deficit Battle
Major Indian Gold Dealer: Indians Are Now Targeting 25% Portfolio Allocation To Gold
Germany Slashes Its Own 2013 GDP Outlook — Full Euro Downgrade Next?
BitCoin Mania Accelerates
TNT Express to divest itself of operations in Brazil and China
"Dutch shipping giant TNT Express said Monday it would lay off 4,000 workers over three years in order to streamline operations and boost profits."
Is Qatar making moves to leave Egypt?
"Egypt's economy is edging closer to collapse, and now there is one less place the government here can turn to for much-needed financial aid. After promising $5 billion in soft loans and grants to help curb the Egyptian pound's recent slide against the dollar, the tiny but vastly wealthy Gulf nation of Qatar is now backing off pledges of any further funding for the cash-strapped nation."
Pakistan's Army of Overseas Workers Keeps Economy From Collapse
Singapore's February inflation up 4.9% from year earlier
FSL Trust: 2012 Was a 'Dismal' Year for Shipping
Mining company bankruptcy the canary in coal mine for pensioners

## Airline Death Spiral ##
Boeing 787 takes to sky in first flight check
Lufthansa Considers Low-Cost Carrier Targeting Asian
Should airlines charge by weight?
US Airways flight center in Moon may close in a few years, CEO says

## Fault lines/flashpoints/powder kegs/military/war drums ##
China purchases 24 Russian Su-35s and 4 submarines
Are aircraft carriers about to become an endangered species in the United States?
CIA helping boost arms shipments to Syria rebels: NYT
Prince Alwaleed the world's most powerful Arab
Central African Republic president flees to Cameroon as rebels squabble over leadership
Islamists Say They Are Filling Vacuum Left By Egyptian State
Maliki Rejects Kerry Demand to Bar Iran Overflights
Syrian Rebel Coalition Crumbling: President Resigns

## Global unrest/mob rule/angry people/torches and pitchforks ##
Rio police evict Amazon natives from World Cup site
"Police evicted two dozen Amazon natives on Friday from an old Indian museum that will be demolished to clear areas adjacent to Brazil's legendary Maracana soccer stadium, the main venue for next year's World Cup."
Cypriots protest against 'economic WWIII'
Teargas used on French protesters
Protesters Rally Again Over Police Shooting of Brooklyn Teen
Burma communal rioting spreads outside Meiktila
Social Unrest and Economic Stress: Europe's Angst
Cree Idle No More walkers near end of 1,600 km trek to Ottawa
Two jailed Bahraini activists refusing fluids in hunger strike: rights group

## Energy/resources ##
Indonesia struggles to solve politically toxic fuel subsidy problem
"Indonesia's government is again trying to confront runaway fuel subsidy costs that now account for more than 30 percent of state spending and are draining funds that should be going for much-needed infrastructure in Southeast Asia's largest economy."
Russia Cuts China Into Arctic Oil Rush as Energy Giants Embrace
Bosch Shuts Down Solar Business, Suffers Steep Losses
Solar company Meyer Burger seeks 150 mln Sfr from shareholders
"Swiss solar equipment maker Meyer Burger said it would tap shareholders for 150 million Swiss francs ($159.5 million) after a slump in demand for solar cells pushed it to a full-year loss."
Shell to close Nigerian oil pipeline
"A decision to shut down the Nembe Creek oil pipeline in Nigeria next month is a reflection of rampant oil theft in the country, a Shell official said."
Persistent chill heats up oil pricing
IEA expects global natural gas revolution
Russia-India oil, gas pipelines in the works?
Power sector: Circular debt rises astronomically in seven years: report (Pakistan)
Billionaire Sees Profit as Gas Shortage Worsens: Corporate India
Big Debts, Cheap Gas and Rolling Blackouts in Texas
Minister Assures No Power Blackout In Thailand Next Month

## Infrastructure scavenging ##
Trains disrupted by cable thieves

## Got food? ##
Outlaws steal squid from Argentine waters
US poultry industry strives for profitability
Egypt wheat stocks dwindle; no purchases planned until June
"The country is unlikely to to buy more wheat at international tenders until end of June and its harvest forecasts are unrealistic, say industry sources"
Beef, pork prices forecasted to climb 3-4 percent (US)
Families going without food and medicine to pay the bills (Australia)
Food costs to rise as lambs and crops hit (UK)
Millions in Eastern Africa face starvation

## Lifestyle Solutions ##
A Meditation on Country Living

## Environment/health ##
How Climate Change Caused the Syrian Revolution
"A new study on the Arab Spring and Climate Change, finds evidence to suggest that it was not merely a coincidence that the Syrian revolution began just as the entire country was still struggling to survive after the worst drought ever recorded."
Dangers from heatwaves set to rise (Australia)
Third Pole glaciers shrinking, affected by black carbon
"About 90 percent of glaciers in the Third Pole region are shrinking, accelerated by black carbon being transferred from South Asia to the Tibetan Plateau, a top scientist has warned."
Winter refuses to let go across the Northern Hemisphere (gallery)
California Sea Lions Starving

## Intelligence/propaganda/security/internet/cyberwar ##
Mobile location data 'present anonymity risk'
Saudi Arabia 'threatens Skype ban'
Seacom still working on restoring Mediterranean cable

## Systemic breakdown/collapse ##
Welfare cuts hit the hungry on Hungary's eastern edge
Google Drive Hit by Three Outages Last Week

## Japan ##
U.S. shale no panacea for Japan's crippling energy bills
Rat caused second Fukushima No. 1 blackout: Tepco
7,000 flock to rally for decommissioning of all reactors in Fukushima

## China ##
Hong Kong's Real-Estate Brokers Feel the Chill
China pulls 1,000 dead ducks from Sichuan river
Chinese Steel Production to Slow, Big Miners Could Suffer

## UK ##
Big Five UK banks see profits for 2012 'wiped out'
Britain's PM Cameron unveils sweeping immigration crackdown
UK could Run Out of Natural Gas by April
Spring snow: Thousands of animals feared dead
"Farmers fear that thousands of sheep and cattle have died in the snow that has hit in recent days."
Welcome to blackout Britain
"With the bad weather causing long-term power cuts, the fragility of our energy infrastructure is becoming frighteningly apparent"
Cold snap could add £30 to energy bills in Wales, experts warn

## US ##
April showers forecast as U.S. begins healing from drought
Amish families face eviction for shunning septic systems
Smart people will be learning from the Amish instead of attacking them. -- RF
60 Completely Outrageous Ways The U.S. Government Is Wasting Money
The Frenzy is back: Low inventory creates bidding wars and mania for California real estate
Why the Government Is Desperately Trying to Inflate a New Housing Bubble
"The Federal government and Federal Reserve are trying to inflate another housing bubble to save the "too big to fail" banks from a richly deserved day of reckoning."
Now suburbia is where the poor are
"Poverty there has surged by 64% since 2000, and the largest population of low-income people is no longer urban."
Kunstler was right. -- RF
Coupon Use Plummets as Companies Tighten Belts




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