Saturday, April 13, 2013


News Links, April 11-12, 2013

## Global Ponzi meltdown/House of Cards ##
Toronto Condo Kings Retreating to Avert Crash: Mortgages
"Toronto condo builders are slowing development in a bid to avoid a crash after a decade-long boom led to 159 towers now under construction."
John Key hints at China exchange rate policy (New Zealand)
"The move would allow the New Zealand dollar to be exchanged directly with the Chinese currency, known as the Renminbi."
The Wall Street Ticking Time Bomb That Could Blow Up Your Bank Account
"Derivatives turn the financial system into a casino. And the House always wins."
Slovenia Rules Out Bailout; Translation: "Slovenia Bailout Coming Right Up"
EU raises flag over French, Italian, Spanish economies
Spanish Home Prices Plunge Most On Record
Cypriot economy to contract until 2015 after bailout
Cyprus bailout swells to $30 billion, with brunt of financial burden put on the island nation
Cyprus Central Bank Spokesperson says $523mln Gold Sale Never Discussed
Currency Wars Now Entering Their End Game
WTO cuts 2013 trade growth forecast
IMF chief says easy monetary policy should stay for now
Lagarde: 'Too big to fail' banks 'dangerous'
PC sales worldwide have tumbled, data from IDC shows
Asian stock markets rise after Dow hits yet another record high as US earnings season begins
German automaker Daimler warns of tough times ahead that may take toll on earnings
India car sales decline for first time in a decade
Swedish Banks Make Money Ditching Cash as Krona Goes Virtual
Australia's Unemployment Rate Jumps to Three-Year High: Economy
Quantitative Easing Is Disrupting Commodity Markets
Global economy muted again in 2013: Reuters polls
Why Are The Banksters Telling Us To Sell Our Gold When They Are Hoarding Gold Like Crazy?

## Airline Death Spiral ##
Brace for big fare hikes after airline deals
"Some big-city air routes have been hit with punishing price increases of 40% and 50%, and other well-traveled paths likely face big fare hikes in the future."
Top airline food gripes: smelly, not free
If American and US Airways merge, what should fliers expect?
Korean Air provides lifeline for struggling Czech Airlines
Chanchangi: High Cost of Aviation Fuel Remains Airlines' Headache
Hawaiian Airlines stops Manila flights
"Hawaiian Airlines said Thursday it will stop direct flights to Manila in July amid high fuel prices and low fares."

## Fault lines/flashpoints/powder kegs/military/war drums ##
America's Hired Death Squads and Torture Teams Are Still Operating in Iraq
China angered as Japan, Taiwan sign fishing agreement
North Korea has armed militia of 900,000: report
North Korea hints it will soon launch a missile; Kerry heads to East Asia to discuss tensions
North Korea May Be Able to Deliver Nuclear Warhead, U.S. Finds
Top Economic Advisers Forecast War and Unrest
Targeting Iran's Energy Sector Isn't Working
U.S. targets web of companies accused of evading Iran sanctions
In Multilateral Talks With Iran, Israel Is Increasingly Isolated
Obama Clears $10 Million in Aid for Syrian Opposition
Syria's Nusra Rebels Pledge Loyalty to al-Qaeda

## Global unrest/mob rule/angry people/torches and pitchforks ##
Saudi Shi'ites fear new unrest after spy arrests
Cargo piles up as two-week Hong Kong port strike drags on
Police ask Margaret Thatcher protesters to identify themselves (UK)
Thatcher foes push 'Ding Dong' up music chart in U.K.
Egypt's Islamist President Turns to Twitter as Unrest Mounts
Chilean students clash with riot police during eduacation protests
Portuguese Unions Prepare Anti-Government Protest

## Energy/resources ##
OPEC oil output in March: a few countries struggled to keep up
"'It's possible that some of the individual country declines could be attributed to reacting to weaker demand, but that's mostly been the role of Saudi Arabia,' said John Kingston, Platts global director of news. 'Instead, when one examines the declines from Iraq, Nigeria, and Libya, it raises the question whether there are only two countries that can really combat these declines: Saudi Arabia and the United States, given its rising output.'"
Europe's spot hub natural gas prices overtake long-term contracts
"France and the UK finished the winter with almost no gas left in storage. Tankers carrying LNG–upon which the region depended so much last year, when demand was much lower–were this year unloaded mostly in Asia or, in an unexpected diversion, in drought-hit Latin America in response to higher prices."
California's Fracking Bonanza May Fall Short of Promise
"California and oil producers such as Occidental Petroleum Corp. (OXY) may not be able to realize their dream of hydraulic fracturing generating billions in revenue from the Monterey shale deposit traversing the state."
Cornell Plan for a 100% Renewable New York by 2030 would Cost $382 Billion
Eni says work in Iran may be sanctionable
Keystone Aside, U.S. Eyes Its Own Tar Sands
'Irreparable' safety issues: All US nuclear reactors should be replaced, 'Band-Aids' won't help
"All 104 nuclear reactors currently operational in the US have irreparable safety issues and should be taken out of commission and replaced, former chairman of the US Nuclear Regulatory Commission, Gregory B. Jaczko said."
National Energy Board introduces new protections for whistleblowers at pipeline companies (Canada)
IEA Continues to Downgrade Oil Demand, Warns of Supply Risks
inkoSolar posts sixth straight quarterly loss on low prices
Iraq Revises Its Oil Reserves to 150 Billion Barrels
OPEC expects global oil demand to reach 88.87 mbpd this year
New Technology Can Help the US Develop their own Tar Sands Reserves
Washington: Station Blackout Mitigation Strategies
A Water Crisis Threatens Ghana's Economic Growth
Power crisis blocks investments into Mindanao (Philippines)
Shortage of electricity, gas impedes to achieve textile export target set for 2012-13 (Pakistan)
Egypt's electricity crisis threatens to leave tourism sector in the dark
Minister warns of possible energy crisis without CSG (Australia)
No end in sight to irking power crisis (Kashmir)

## Infrastructure scavenging ##
Copper theft blamed for Coachella power outage

## Got food? ##
Freeze harming US wheat; rain and snow stall corn seeding
Surprise: Organic Apples And Pears Aren't Free Of Antibiotics
$100,000 worth of hamburger patties stolen in New Jersey
World food prices rise 1 percent in March: FAO
Food Inflation Everywhere, But Not A Bit In CPI (Yet)
HOMEGROWN Life: How to Install Drip Irrigation
Egypt Seen by U.S. Overestimating Wheat Crop as Currency Weakens

## Environment/health ##
UK nature reserves attract new bird species
Chile court suspends Barrick's massive Pascua-Lama project
Cuban History Offers Important Lessons For Global Health Today
New Research Finds that Adding Iron to the Oceans to Capture More Carbon Isn't Worth the Risk
'Dark lightning' zaps airline passengers with radiation
Hose Fails Under Pressure at Repsol Well Spraying Oil Over Arctic Snow
France In Tight Spot over Geothermal 'Fracking'
How environmentally friendly are electric cars?
Bird Flu Causing Suffocation Shows Severe Spectrum of New Virus
Germany restarts hunt for nuclear waste dump

## Intelligence/propaganda/security/internet/cyberwar ##
SKorea says preliminary probe points to NKorea in March cyberattack on broadcasters, banks
Media Still Hype Staged Toppling of Saddam Statue as Genuine
IRS may be reading your email without a warrant, documents suggest 
Drones that can tell if you are carrying a gun being tested in Oklahoma
Hacker targets flight deck computer systems
Budgetary cost-cutting realigns military for cyberwar (US)
Drones to work with 8,000 police at Northern Ireland G8 summit

## Systemic breakdown/collapse ##
The Tunnel People That Live Under The Streets Of America
"As the economy crumbles, poverty in the United States is absolutely exploding and so is homelessness.  In addition to the thousands of 'tunnel people' living under the streets of America, there are also thousands that are living in tent cities, there are tens of thousands that are living in their vehicles and there are more than a million public school children that do not have a home to go back to at night."
Anti-social behaviour growing, says official survey (UK)
MUST READ: Will Fossil Fuels Be Able to Maintain Economic Growth? A Q&A with Charles Hall
I've observed repeatedly that energy decline no longer allows us to educate and train all the engineers and skilled workers needed to maintain our complex industrial/technological society. Embrace collapse.  -- RF
Review: The Five Stages Of Collapse

## Japan ##
Leaks spur Japan's crippled nuclear plant to expand storage
More radioactive water leaks during Tepco transfer effort at Fukushima No. 1
Water, Rats, Outages: Japan Nuke Plant Precarious
Japan vs. Newton (and Certain to Lose)
Disaster did little to shake up status quo, expert says
"Disappointing expectations that the megaquake and tsunami two years ago — and subsequent nuclear calamity — would trigger a rebirth of politics and government, Japan's key policies remain largely unchanged, says Richard Samuels, director of the Center for International Studies at Massachusetts Institute of Technology."
TEPCO to cut spending on oil, boost coal capacity instead
"Tokyo Electric Power Co. (TEPCO) is currently mulling over plans to cut spending on oil and concentrate power generation from coal-fired plants instead. This plan is in the wake of increasing oil expenditures after the Fukushima nuclear disaster, which caused the government to shut down almost all nuclear power plants in Japan."
For Japan's loan-starved banks, BOJ's big bang carries new risk
"When the Bank of Japan announced its go-for-broke bid to shock the economy out of two decades of stagnation, it also put the nation's banks on notice to find a money-hungry borrower other than the government itself."
Export Ship Order Log Sinks To 10-Year Low
"The export ship order book as of March 31 stood at its lowest level in 10 years at 25.54 million gross tons, the Japan Ship Exporters' Association said Thursday."
Pump! Nikkei tops 13,500 line as hot streak continues
Prices outpace incomes as yen softens
"Prices are rising before incomes are and thus consumers are feeling the pain of the yen's depreciation driven by 'Abenomics.'"
Nation on high alert for bird flu / Airports, local govts prepare for outbreaks
New NRA rules impose costly roadblocks to restart idle reactors
"For the next several years at least, Japan will probably have very limited ability to generate electricity through nuclear power. This is because the vast majority of the nation's idle nuclear reactors are unlikely to resume operations anytime soon due to proposed new regulation standards that set high and costly hurdles."

## China ##
China posts trade deficit of $884M
The True Chinese Credit Bubble: 240% Of GDP And Soaring
Amid China air, water pollution, soil survey reveals century-old heavy metals
Philanthropists donate less as economy slows
Residents in China Ordered to Cull Birds
China's new bird flu sickens 38, kills 10

## UK ##
Figures from Shelter reveal millions are one payday away from not being able to pay their mortgage or rent
Safety for British consumers 'cannot be guaranteed' after Dutch recall 50,000 tons of meat
My fracking study was fully independent, says professor - as campaigners say universities have been hijacked by PR machine

## US ##
Construction Booming In Texas, But Many Workers Pay Dearly
Kansas's Self-Destruct Button: A Bill to Outlaw Sustainability
Pentagon looks to cut 40,000 to 50,000 civilians over five years
Class of 2013 likely to face tough start in tight job market
Pump! S&P, Dow close with record highs
S&P 500 May Fall More Than 40% By Fall Says Chris Martenson in Interview with Lauren Lyster
McDonald's says service needs fixing
"McDonald's Corp. executives said they would focus on improving the service at restaurants where complaints about unfriendly staff have been on the rise."
34% Say U.S. Has Crony Capitalist Economic System
Still Think The Housing Recovery Is Sustainable?
Lilly says it will lay off some sales personnel; WSJ says 1,000 to go

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