Friday, March 08, 2013


News Links, March 9, 2013

## Global Ponzi meltdown/House of Cards ##
Global growth in manufacturing slows down
Canadian unemployment sits at 7 percent
German Industrial Production Unexpectedly Stagnates
Google to cut further 1,200 jobs at Motorola Mobility
Another step towards an East-West trade war
"China's trade figures released this morning are shocking. They tell us that China is still flooding the world with excess goods, and is once again a net drain on global demand."
Egypt stock market bleeds over continuing political chaos

## Airline Death Spiral ##
United offsets traffic decline with higher prices
Airlines finding new passenger fees
Ailing Air India owes Rs 4,277 cr fuel bill to OMCs
Small local airports get ready for sequester cuts
SAS airline three-month loss down to $100 million

## Fault lines/flashpoints/powder kegs/military/war drums ##
More crisis response headed to AFRICOM amid terrorism concerns
"A new Africa-focused Marine crisis response unit could soon be in place as part of a broader effort to beef up Africa Command's ability to confront emerging terrorism threats on the continent, its commander Gen. Carter Ham told a Senate committee on Wednesday."
Nine killed as gunmen attack government-backed Iraq militia: police
Blasts rock northeast Nigeria after president's visit
North Korea ends peace pacts with South
China warns against Korea escalation
Five sheet-wrapped bodies found in Mexico; gang murder suspected
U.S.-Israel-Greek Navies Drill in Med
U.S., China Take Part in Pakistan Naval Drills
"The United States and China began naval drills in the Arabian Sea with Pakistan and other countries on Thursday, the Pakistani navy said, in a show of strength against terrorism and piracy."

## Global unrest/mob rule/angry people/torches and pitchforks ##
Thousands march in Egypt's Port Said over deaths
Palestinians clash with Israeli forces in West Bank, Jerusalem
Quebec City protest broken up within minutes, police still manage to arrest three students
31 Killed Across Iraq; Police Fire on Protesters

## Energy/resources ##
Russia muscles in on East Med gas boom
Why Can't Junior Miners Raise Cash?
"With companies quickly burning through their limited capital, Bloomberg News estimates that on average, junior mining companies have only 5.7 months worth of cash on their balance sheets, down 25% from last year. Unless smaller mining companies can raise more capital, they will be unable to fund ongoing exploration projects and will have to cease operations."
Australia recognized as largest supplier of LNG to Japan
'Everyone's a bit lost': Carmakers think outside the box as electric dreams shatter
U.S. ethanol makers eye pros and cons of corn alternatives
"Short supplies of U.S. corn are causing ethanol makers to look at alternatives to the high-priced feedstock, with everything from wheat to sugar under consideration as a possible substitute."
Sri Lanka bans ethanol imports
"Last year Sri Lanka expropriated two sugar privately held sugar mills which produced ethanol and 550 million rupees of people's tax money was used to keep them afloat."
Russia's Gazprom secures geopolitical boost with Israel gas deal
"The mammoth Russia state gas firm Gazprom signed an agreement last week in Israel that not only solidly improves its commercial liquefied natural gas (LNG) strategy, but also looks set to shift the geopolitical balance in the strategic Mediterranean region in the company's favor."
Cheap oil to the rescue, economist predicts
Massive China Solar Demand Could Save the Sector!
Energy crisis delay paralyses industrial estate progress (Pakistan)
4-hour daily brownout hits Butuan (Philippines)
"Insufficient power supply in the Mindanao grid and not power transmission problem triggered the four-hour daily brownout in this city, an official of the National Grid Corp. of the Philippines (NGCP) said."
South Africa, Sugar Body in Talks to Use Bagasse for Electricity
Egat, industries tackle looming power shortfall (Thailand)
Risks of job losses as power cuts deepen (Botswana)
"In a snapshot of the effects the ongoing power crisis is having on the private sector, milling giant, Bolux, says pressure is mounting on its ability to sustain employment, as capacity utilisation drops and contingency expenses increase."
Power cuts to be reduced by two hours‚ says NEA (Nepal)
Strikes threaten Eskom power (South Africa)
U.S. ethanol rules threaten gasoline supply crunch
"The soaring cost of ethanol credits for oil refiners is boosting gasoline prices and could crimp fuel supplies, threatening to send U.S. pump prices higher during the peak summer driving season, industry officials and traders warned on Friday."

## Infrastructure scavenging ##
8 school buses stolen in Chicago, scrapped for parts

## Got food? ##
U.S. crop belt slowly crawls out of disastrous drought
Tuna recall expands to more than 3 million cans
Egypt hungry for 'food revolution'
"Low-income households in Egypt are being hit by soaring food prices, placing a major strain on many poor families in the country, who are struggling to put basic staples on the table."
Farmers raise alarm over shortage of fertiliser (Kenya)
France: Increase of Unemployment Worsens Food Shortage
Some local farmers running short of eggs (Hawaii)

## Lifestyle Solutions ##
See how frugal family of four lives comfortably on $14K a year

## Environment/health ##
'Unclassified and unidentified' life found in Antarctic lake
Floating trash from 2011 tsunami expected to be problem for decades
Hong Kong unmasked, 10 years after SARS

## Intelligence/propaganda/security/internet/cyberwar ##
Just How Fast Are China's Internet Censors? Very.
China, Russia seek greater control of Internet, U.S. says
Yahoo Says Site Outage Wasn't a Hack Attack
Cloud Outages: Power Loss Blamed as Main Cause
"There were 27 notable publicly reported cloud outages in 2012, according to research from RightScale, and much of the finger-pointing leads toward power loss or failed backup. Outages aren't going away, but are cloud outages still faring better than traditional IT?"

## Systemic breakdown ##
America's 'invincible' city brought to its knees by poverty, violence
Officials: Most NYC High School Grads Need Remedial Help Before Entering CUNY Community Colleges
Where There's No Government

## Japan ##
Flooding complicates clean-up at Japanese nuclear plant
"Tokyo Electric Power Co is struggling to stop groundwater flooding into damaged reactors at its wrecked Fukushima plant and it may take four years to fix the problem, possibly delaying the removal of melted uranium fuel."
Fukushima disaster: Cameras monitor nuclear 'ghost towns' (BBC video)
So sad: Two Years Later, A Brief Homecoming (photo gallery)
Residents concerned on effects of thyroid doses in Fukushima
Speedy Rebuilding of Homes Top Priority Says Japan's Reconstruction Minister
"It's been two years since Japan's devastating tsunami and nuclear crisis turned the country's northeast region into a disaster zone. While the government pledged to rebuild the affected cities and towns, a full recovery is still nowhere in sight."
Mayors of disaster-hit towns bemoan manpower shortages, delayed decontamination
Abe to visit Saudi Arabia between April, May to discuss energy security
Japan logs current account deficit for 3rd month in row for 1st time
TEPCO to face more suits over N-disaster

## China ##
China acquires yet another African Gold mine
Gold bar sales in China jump twofold during Spring Festival
Doomsday Warning Can't Damp Bubbly Enthusiasm for China Property
China fears for oil deals as it loses ally Chavez
Hong Kong clamps down on quirky property buys
Take a Stroll Through the Ghost Cities of China
Yet another gallery of astonishing photos. Who's gonna pay for all of this? -- RF

## UK ##
UK Aims to Capture Share of $1 Trillion Afghan Natural Resource Reserves
Non-urgent police calls 'go unanswered'
"Hundreds of thousands of phone calls to the new police non-emergency 101 number are going unanswered, figures from forces in England and Wales suggest."
U.K.'s Record Norway Gas Need Spells Price Jumps: Energy Markets

## US ##
TRANSCOM commander: Sequester already starting to hurt military readiness
What's the matter with Camden?
South Dakota to allow armed teachers in schools
Budget cuts could hamper nuclear cleanup
Senator asks why bankers aren't jailed
Dear Elizabeth: The answer to this is that the rich and powerful do not pay for their crimes. Give it a rest. -- RF
Unemployment Rate Down As Americans Give Up On Work
"The U.S. unemployment rate is down, but that is because many Americans have given up looking for a job."
Spoiling the "Great Employment News"
"According to the household survey (on which the unemployment rate is based) the economy added a healthy 170,000 jobs. However, a whopping 446,000 of those jobs were part-time jobs. Simply put, the economy shed 276,000 full-time jobs."
Jobs numbers are far worse than they look: Millions who want full-time work can't get it
Wholesale Inventories Surge Most In 14 Months, Sales Plunge
Every "Record" Dow Jones Point Costs $200 Million In Federal Debt
Even government workers owe back taxes
"The number of federal workers and retirees who were delinquent on their income taxes jumped 11.5% in 2011 from the year before, according to data released by the Internal Revenue Service on Friday."
No recovery for U.S. government workers
"Federal government jobs fell by 4,200 in February, the fifth month in a row those jobs have been zapped from the economy. And, thanks to the automatic budget cuts, it's going to get worse."
Roubini sees market correction in 2nd half of 2013
Americans Added $36.2 Billion in Credit Card Debt in 2012
Paul fires back: Sens. McCain, Graham think the 'whole world is a battlefield'

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