Tuesday, March 05, 2013


News Links, March 5-6, 2013

## Global Ponzi meltdown/House of Cards ##
Spain's official jobless number tops 5M
Spain Has A Long Way To Go Down
Car Sales Plunge 10% in Germany, 12% in France, 17% in Italy; US Plunge Coming Up
Australia Building Permits, Profits Drop, Sending Currency Lower
Miners' gloomy outlook dims driller's prospects
"Major Drilling Group International Inc., the world's second-largest drilling company, has cut how much it charges companies to drill for mineral riches as exploration spending falls off in the embattled industry."
Cyprus closer to bailout
12 Things That Just Happened That Show The Next Wave Of The Economic Collapse Is Almost Here
Citigroup's Corbat May Exit Some Countries Amid Cost Cuts
"Citigroup Inc. (C), the third-biggest U.S. bank, could exit or pull back from businesses in 21 countries that are among its least-efficient markets as Chief Executive Officer Michael Corbat seeks to cut costs."
The Fatter the Cat, the Louder the Howl
Greek Finance Ministry To "Troll" Through All Depositor Accounts In Hunt For Suspected Tax Evaders
Demand for 'Street Legal' Ultra-Luxury Cars Soars
"High-end cars are in high demand. In fact, ultra-luxury auto sales are off to a roaring start in 2013 as the wealthy car buyers snatch up Bentleys, Lamborghinis and other pricey models at a rate far greater than the industry sales pace."

## Airline Death Spiral ##
Brazil's Leading Airlines Tam, Gol Cut Jobs to Reduce Costs
Fees & expenses top a quarter billion dollars in American Airlines bankruptcy
Sri Lanka's national carrier facing significant financial losses
Long Lines At TSA: Maybe Not a Good Omen For Spring Break Travel
Foreign airlines buy aviation fuel in Nigeria as shortage hits Ghana

## Fault lines/flashpoints/powder kegs/military/war drums ##
Venezuela's Hugo Chavez dies from cancer
Kerry sees "finite" time for Iran nuclear talks to bear fruit
Biden threatens war, Iran builds 3,000 advanced centrifuges
U.N. nuclear chief presses Iran on access to military base
Robot warriors: Lethal machines coming of age
Pakistan shrugs off pipeline concerns
Russia arms firms bag Iraq, chase Libya
China to provide loan for rail track to key Sri Lankan port
"China's Export-Import Bank will provide a loan of $278.2 million to Sri Lanka to help lay a rail track to a key port which Beijing is building that has stoked concern in neighboring India."
Russia willing to consider making it easier for Libya to buy arms
Brazil's submarine project well on way
How Far Will the US Go to Derail Iran-Pakistan Pipeline?
Israel's segregated buses in West Bank denounced as 'apartheid'
US seeks UN sanctions targeting North Korea diplomats
North Korea to scrap armistice if South and U.S. continue drills
At least 70 dead, thousands flee fighting in east Congo
Biden at AIPAC conference: Obama is not bluffing on Iran
Chinese general warns accidental weapons discharge 'possible' if Japan continues provocations

## Global unrest/mob rule/angry people/torches and pitchforks ##
Jobs protesters break into Iraq's West Qurna-2 oilfield
"Hundreds of protesters demanding jobs broke into Iraq's giant southern West Qurna-2 oilfield and wrecked offices early on Monday, police and employees at the field said."
Guinea riots spread outside capital, election talks splutter
Violent protests erupt for second day in Egypt's Port Said
"Protesters hurled petrol bombs and stones at police officers who responded by firing teargas in Egypt's Port Said on Monday, a day after deadly demonstrations in the Suez Canal city."
Truckers in Colombia begin strike
French unions lead protests over labour deal
Miners join protests as Bulgaria heads for early polls
Weekly rallies keeping antinuclear movement alive after LDP's return (Japan)

## Energy/resources ##
Energy supply troubles show Europe vulnerable to imports
"UK gas prices hit a five-year high due to Norwegian supply troubles on Monday and Italy was cut off from Libyan gas after militia fighting, laying bare European energy markets' vulnerability to increasingly vital foreign imports."
Fracked Gas Won't Solve Energy Crunch: Report
"Governments and financial analysts who think unconventional fossil fuels such as bitumen, shale gas and shale oil can usher in an era of prosperity and energy plenty are dangerously deluded, concludes a groundbreaking report by one of Canada's top energy analysts."
Nigerian Oil Thieves Return to Decimate Output
30 Facts About The Coming Water Crisis That Will Change The Lives Of Every Person On The Planet
No sign of breakthrough at Russia-Ukraine gas talks
Libyan army restores order at gas complex, flows suspended
Will Colombia Become Latin America's Poster Child for Peak Oil
Crude Drops Below $90 on Signs of Slowing Chinese Growth
Persian Gulf Tanker Supply Seen at Record by Morgan Stanley
"VLCCs 'are still stuck in a rut with quoted rates in negative territory in what should be the last part of a strong season,' according to an e-mailed report today from Oslo-based Arctic Securities ASA. This is 'giving a worrying outlook for the summer months,' according to the report."
While buyers of oil and petroleum products do not want high prices, that's what keeps the oil industry afloat in this era of high production costs. If you are an oil producer or shipper, low consumption and low prices are killers. -- RF
Siam Cement prepares for energy shortage (Thailand)
More diesel shortages, official predicts (Egypt)
Portugal's biggest company EDP warns of tough year ahead
Bulgaria cuts household electricity prices by 7 pct
New Gas Pipeline will Connect Iran and Syria
China Joining U.S. Shale Renaissance With $40 Billion
Yingli posts loss; looks homeward to drive sales
"Yingli Green Energy Holding Co, one of China's largest solar equipment makers, reported its sixth straight quarterly loss, but forecast higher shipments for the year as it looks to sell a major chunk of its products at home.""
Shell Plans Added U.S. LNG Transport Amid Record Diesel
"Royal Dutch Shell Plc (RDSA), the largest European oil company, plans to double the amount of liquefied natural gas available for trucks and marine vessels in North America after retail diesel prices reached a record."
Twenty-First Century Snake Oil: Why the United States Should Reject Biofuels as Part of a Rational National Energy Security Program (review)
Conoco Says Alaska Gas Supply Not Enough for Exports
"ConocoPhillips (COP) may cease shipments of liquefied natural gas from the U.S.'s only export terminal in Alaska because of insufficient local supply."
Egat vows power will flow to key zones (Thailand)
Gujarat facing severe energy crisis owing to shortage of fuel
Egypt's fuel shortages demonstrate perfect storm of economic pressures
Zambians Now Used to Load-Shedding – Zesco

## Infrastructure scavenging ##
Metal thieves cost Videotron millions
Metal thieves supersize it

## Got food? ##
Rice Glut Expands With Farms Poised for Record Crop: Commodities
"Farmers are preparing to plant a record rice crop that will boost inventories held by the world's biggest exporters to the highest ever."
Africa holds almost 50 percent of the world's uncultivated land- World Bank
The land grabs and water battles won't end well. And keep in mind that countries which depend on food imports and seek farmland abroad are grossly overpopulated. -- RF
UN food envoy Olivier De Schutter says Canada starves many of its citizens
Ikea withdraws contaminated almond cakes
Food shortage looms (Fiji)

## Environment/health ##
Officials alarmed by increasing superbug reports
Turning It Down: Cities Combat Light Pollution By Going Dim
What the article doesn't mention is that it's primarily an effort to save money. -- RF
Reports: Snipers Deployed To Kill Tehran's Cat-Sized Rats
"Rats do not respect international boundaries, of course. Gawker last month looked at reports of a post-Superstorm Sandy rat invasion in New York City and concluded it was still too soon to tell if it's happened. The New York Times, though, thinks the city's rats have 'come inland, in droves.'"
King Corn Mowed Down 2 Million Acres of Grassland in 5 Years Flat

## Intelligence/propaganda/security/internet/cyberwar ##
Street Lights, Security Systems And Sewers? They're Hackable, Too
Cyber war crucial to edge in regional arms race

## Systemic breakdown ##
US power grid costs rise, but service slips
"America's power grid is like an old car. It gets the job done, even if its performance is slipping. But the repair bills go up every year and experts say only a major overhaul will reverse its decline."
Japan man dies after hospitals reject him 36 times
New report: Governments must protect land, food systems as trade liberalization accelerates land grabbing
Housing shortage crisis deepens in Bahrain

## Japan ##
Japan Central Bank Nominee Pledges to Do Whatever Needed to Combat Deflation; Mother of all Pyrrhic Victories
Japan pledge for bold action sparks currency war fears
In Japan, the Rising Cost of Elder Care—and Dying Alone
Video: Eco-friendly 'Green Float' city concept
But it can't be self-sustaining. Can you think of the reasons? -- RF
Kumamoto warns residents to stay indoors as smog drifts from China
Forget Deflation — One Trader Sounds Hyper-Inflation Alarm
How Low Will the Yen Go: Depression-Era Policies?
January's domestic PC shipments hit record low
60% in Fukushima say more than 2 decades needed to return to pre-disaster lifestyles
Coast guard to deploy retired MSDF ships to counter Chinese incursions
Municipalities in disaster-hit areas suffer from acute staff shortages
80 percent of evacuees from 3 prefectures won't return to hometowns: survey
Japan's "Long War" to shut down Fukushima

## China ##
China Bankers Earn Less Than New York Peers as Pay Drops
Rising trade feuds expected
China puts focus on consumers to drive growth
China Overtakes the US to become the World's Largest Oil Importer
China Boosts Defense Spending as Military Modernizes Arsenal
China's Housing Trouble Heats Up
China's Wahaha Billionaire Says Capital Markets "Suck"

## UK ##
British construction slows further
Real-life superheroes who patrol streets as crime-fighting vigilantes
Risk of energy crisis mounts as British Gas drops nuclear plans
UK needs 'plan B' for new nuclear power, say MPs
Britain slips down world rankings for universities
"British universities risk being relegated into the 'global lower leagues' following a decline in the standing of some of the country's leading research institutions, according to education experts."

## US ##
Record number of anti-government militias in USA
Pump! Dow surges to new closing high on economy, Fed's help
The Last Time The Dow Was Here…
Take a look at these comparative statistics. It's clear that the Dow is just a pumped-up bubble, and that the situation has deteriorated markedly since the last time. -- RF
This is America, Now: The Dow Hits a Record High With Household Income at a Decade Low
From Hollywood to Kansas, drones are flying under the radar
Wealth Gap: Wide And Getting Wider
21K NYC Kids Spent January in Homeless Shelter
Baltimore to clear homeless encampment
U.S. Mint Sales For February: Massive Amounts Of Silver And Gold Are Sold
Student suspended for shaping Pop-Tart into gun
But it's OK to have an arsenal of assault weapons in your home. And Biden advises us to buy shotguns! -- RF
FAA investigating report of drone spotted near NYC
Peter Schiff And The Coming Housing Collapse: The Fed, Instead Of Lehman, Owns The Mortgage Market
Infections With 'Nightmare Bacteria' Are On The Rise In U.S. Hospitals
Yellow Pages to lay off 200
Average new-car loan a record 65 months in fourth quarter
Smith & Wesson raises outlook as gun sales soar
Why America's middle class is losing ground
Obama Administration: Yes, We Can Kill Americans on US Soil

And finally…
Today's 'Harlem Shake' Report: 15 Aussie Miners Fired; 'The Simpsons' Joins In
Heartbreaking: Saudi prince says Forbes 'underestimated' his wealth, kept him out of top 10 billionaires
Daily BS: 'Peak oil' doomsayers proved wrong (CNN)
Well, what do you expect from CNN? World oil production has been stuck on a plateau for the last seven years, despite the best efforts of the world oil industry — as predicted by peak oil. In just the last 12 years, the oil industry must make five times the effort just to maintain the same production level. This increase in effort to keep running in place was likewise predicted by peak oil. Don't fall for propaganda.

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