Thursday, April 18, 2013


News Links, April 19, 2013

## Global Ponzi meltdown/House of Cards ##
Europe Car Sales Plunge 10% as Germany's Decline Hurts VW
Europeans spooked by economic slowdown hang on to old cars as sales fall for 18th month
European stocks hit by German downgrade rumours
Cyprus Central Bank Must Approve Gold Sale, Finance Chief Says
Tesco quits U.S. as profits fall for first time in 20 years
Gold Mining Stocks Still In Free Fall As Gold Price Stabilizes
The Attack on Gold
"The orchestrated attack on bullion in the paper gold market took the spot prices of gold and silver down on Friday and Monday, but actual physical purchases rose during this period. The sales were of paper claims, not of real metal."
"People Running Through The Gate" To Buy Gold Bullion
India's Response To The Gold Sell Off: A Massive Buying Frenzy
Switzerland to Hold Referendum Banning its Central Bank from Selling Gold Reserves
Unintended Consequences Are Increasing World Demand for Gold
The coming deleveraging for Canada – Unit labor costs in manufacturing above US labor costs and household debt-to-income at 160 percent.
Is Canada's condo boom coming apart at the seams?
Is Australia Next in Competitive Currency Debasement?
Spain's legendary purebred horses, once prized acquisitions, now victims of economic bust
Spanish Squatters Invoking Robin Hood Deter Investment
Spain's Community Debt Tops €42 Billion as Unpaid Bills Mount; Madrid Worst Offender
1.2B people in extreme poverty despite improvement
The Euro Legacy: In Greece, Children Pick Through Trash Cans For Food
Chinese auditor warns of debt crisis
Carbon bubble will plunge the world into another financial crisis – report
"The so-called 'carbon bubble' is the result of an over-valuation of oil, coal and gas reserves held by fossil fuel companies."
Carmaker Opel to close German Bochum plant in 2014

## Airline Death Spiral ##
FAA's 149 airport-tower closures cleared for takeoff
Furloughs likely to cut flight arrivals, regulator says
American Airlines Resumes Flights After Major Computer Crash
FAA nears decisive step in restoring 787 to flight
Airfares go up for holiday season as airlines increase fares by 25 pc
Airline workers in Israel plan strike
AMR Profit in Bankruptcy and US Air Merger: Higher Plane Ticket Prices For You

## Fault lines/flashpoints/powder kegs/military/war drums ##
Israeli city of Eilat hit by two rockets
PM Binyamin Netanyahu: Israel prepared militarily for Iran, Syria
Rise of the PetroYuan: How the Chinese currency is replacing the U.S. Dollar in global oil markets
S. Korea To Buy Apache Guardian Helicopters
Pakistan's Musharraf On The Run After Arrest Order
Dramatic escape in a black SUV! -- RF
China calls on Japan to stop scrambling its fighters
"The number of scrambles against Chinese planes nearly doubled to 306 in the year that ended in March. That accounted for the increase in the overall number from 425 to 567, the highest level in 22 years, Japan's Defense Ministry said."
As West Falters, Arms Spending Rises in Developing World

## Global unrest/mob rule/angry people/torches and pitchforks ##
Brazil Indian-farmer standoff intensifies, tribes storm Congress
How flash mob flamenco took on the banks
Clashes flare over anti-F1 protests in Bahrain

## Energy/resources ##
Sri Lanka raises electricity tariff sharply under reforms
Shale drilling bust: Ohio's $500 Billion Oil Dream Fades as Utica Turns Gassy
"U.S. drillers that set up rigs amid the rolling farmland of eastern Ohio on projections underground shale held $500 billion of oil are packing up. Four of the biggest stakeholders in untapped deposits known as the Utica Shale have put up all or part of their acreage for sale, as prices fall by a third in some cases."
Mexico Lacks Water to Frack for Shale Gas
Arab Countries Openly Discuss Peak Oil for the First Time
Study: Biofuels took a €10 billion 'Cyprus bailout' in 2011
"Public support for biofuels in Europe in 2011 added up to €10 billion, a sum equal to the EU's bailout of Cyprus, according to new research by the International Institute for Sustainable Development (IISD)."
Iran moves to speed up nuclear program despite sanctions
Czech grid acts to guard against German wind power surges
Asia leads as world's clean energy investment sags
What Gulf must do to join the shale revolution
If the Gulf states want to start shale drilling, they must be scraping the bottom of the barrel. -- RF
The Canadian tar sands, the world's biggest and dirtiest industrial project
Monthly Oil Supply Update
While this post does not deal with net energy, it's very likely that despite a slight increase in oil production, the world actually has less net energy to work with because the oil industry must keep increasing its effort to maintain the same production level. Remember: With energy, quality is everything; quantity is meaningless. So make no mistake about it: In a net-energy sense, peak oil has come and gone. -- RF
Oil crunch and Eurozone crisis
Peak oil isn't dead: An interview with Chris Nelder
Russia's Rosneft says keen to help develop Iraqi oil fields
Russia and China Oil Giants Raise Billions In New Capital
Waikato powercut hits 12,000 (NZ)

## Got food? ##
Stunting From Malnutrition Affects 1 In 4 Kids Worldwide
Tests show up to 5% of EU beef products contain horsemeat (EU)
Brazil inflation: Surging tomato prices create political headache
Egypt faces food crisis over wheat shortage
Climate Change Threatens Food Security in Asia and Africa

## Environment/health ##
40% Of Chinese Sick With H7N9 Bird Flu Had No Contact With Poultry -- Report
Over-fishing seen as culprit in Fiji coral collapse
Climate scientists struggle to explain warming slowdown
Study: 'Western style' diet can be a killer
Five Endangered U.S. Rivers Threatened by Mines: Group
In Meat Tests, More Data Tying Human Illness To Farm Antibiotics
Massive Drug Recalls are a Wake-Up Call for Vitamin and Supplement Industry

## Intelligence/propaganda/security/internet/cyberwar ##
Some Google services hit by partial outage
Is Armageddon on the cyber horizon?
"UK networks are being targeted by up to 1,000 cyber attacks every hour. Are we sitting idly waiting to be attacked?"
88% of spreadsheets have errors
Bitcoin Blockchain And Mt.Gox Knocked Offline By DDoS Attacks

## Systemic breakdown/collapse ##
How Empires Fall
How Oil Exporters Reach Financial Collapse
Drug pipeline for worst superbugs "on life support": report
Shortage of Tuberculin Skin Test Antigens Across US
Report: Cost of Overseas US Bases Soaring as Usefulness Lags

## Japan ##
Japan reports record annual trade deficit
Nuclear plant halt to increase Japan's fuel costs by 3.8 tril. yen
IAEA inspects Japan's crippled nuclear plant
Gov't may not request power-saving across Japan this summer
Ship carrying nuclear fuel leaves France for Japan
Free gifts, cheap coffee no help as McDonald's Japan troubles continue
"The collapse of McDonald's Japan continues as the company recorded declining year-over-year sales for the 12th consecutive month at the end of March. The situation is dismal, as whatever the company does seems to end in failure."

## China ##
Local governments in China grapple with swelling debt
H7N9 Bird Flu Cases In China Climb To 77 As Shanghai "Retrospectively" Adds To Total
China's Animal Apocalypse Spreads To Dogs
LDK Delinquency Flags Chance of Another China Solar Bust
Chinese automakers struggle against global rivals

## UK ##
Free school meals may be scrapped by councils under 'tidal wave' of cuts
UK unemployment rises to 2.56 million
UK Renews Drive for Offshore Oil and Gas
Insurer Aviva to cut 2,000 jobs and redundancy payouts
Tritium found in ground water around Dungeness nuclear plant
IMF's Lagarde warns UK growth 'not good'

## US ##
U.S. Mint's Sales of Gold Coins Soar After Futures Slump
Philadelphia, 5th Largest City in US is Effectively Bankrupt; Mayor Holds Closed Meeting With Wall Street to Discuss Asset Sales
Moody's May Cut Ratings of 29 Local Issuers on Pension Data
"Chicago, Cincinnati, Minneapolis and 26 other municipalities may face credit-rating downgrades affecting $12.5 billion in debt because pension liabilities are underreported, Moody's Investors Service said."
Initial tests show ricin in letter to Obama
Officials: 2nd suspicious letter intercepted
'The Hell Of American Day Care': Expensive And 'Mediocre'
Vandalism At San Jose PG&E Substation Called 'Sabotage'
"In apparent acts of "sabotage" in the South Bay early Tuesday, someone cut fiber optic cables, knocking out some 911 service, and then fired a rifle at a PG&E substation, Santa Clara County's sheriff said."
Empire State index joins string of data misses
California Pension May Ask for 50% Boost to Close Gap
Goldman Throws In The Towel On A 2013 "Recovery" As Does Bank Of America
United States Postal Service Is Losing $25 Million A Day
First Quarter Petroleum Usage Charts: Total Distillates, Gasoline, Jet Fuel, Fuel Oil
"Recall that president Obama said he would reduce our carbon emissions 15% by 2015. He may succeed, not because of 'alternative' methods, but rather from demand destruction."
Penney in talks with some parties for a new loan: WSJ
Wall Street falls further, bearish signals mount
Jobs, factory data point to slowing economy
Student-Loan Borrowers Reluctant to Make Big Purchases
Fed's Kocherlakota: Low rates may last 5-10 years
Finding a cure for California's acute doctor shortage

And finally…
Martians and Venusians: Men find it hard to read female emotions, say scientists
Female visitors could fall for them': Saudis deport three men for being 'too handsome'

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