Thursday, May 02, 2013

 

News Links, May 2-3, 2013

## Global Ponzi meltdown/House of Cards ##
Expect ECB to Cut Rates on Friday; Even a "Shock-and-Awe" Cut Won't Help One Bit
European Central Bank cuts key rate to new low of 0.5 percent to help kick-start euro economy
'There will be more wealth confiscation, without a doubt'
20 Signs That The Next Great Economic Depression Has Already Started In Europe
Fractional Reserve Banking: It's Not Your Money… You Only Think It Is!
S&P Predicts 20% Drop in Spain's Housing Prices Over Next 4 Years; Bad Bank to Dump Distressed Properties on Market
Martin Armstrong: Cyprus Wasn't the First, Nor the Last; Says Gold May Hit $1150
Foreign Holdings of US Securities Have Exploded
Desperately Seeking $11.2 Trillion In Collateral, Or How "Modern Money" Really Works
Slow markets, investment in new technology make sales, earnings dip at BMW
China, India PMIs show factory-sector growth stumbling
Taiwan Joins Ranks Of Economies Facing Slower-Than-Expected Growth
Burj Khalifa developer considers new world's tallest tower for Dubai to beat Saudi

## Airline Death Spiral ##
Overweight bags: When is it worth it to ship them?
Indian airlines begin to charge ancillary fees for first time
Airlines back to their dismal normal — with more fees coming
American reports $193 million loss for March
Why Plane Tickets Cost So Much (And How You Can Still Get a Deal)
Hawaiian Airlines stops Honolulu-Manila direct flights
Japanese Airlines expect hit from 787 grounding
Garuda sees loss despite more passengers
Frontier adds carry-on fee for some passengers
Lufthansa Has First-Quarter Loss on Reorganization Costs

## Fault lines/flashpoints/powder kegs/military/war drums ##
Russian Concerns over Central Asia Threaten Kyrgyzstan Hydroelectric Plant
Russia charges Nasa $70m per seat to fly astronauts into space
"The US space agency is paying $424 million (£272m) more to Russia to get US astronauts into space and home again, and the agency's leader is blaming Congress for the extra expense."
Settlers and Palestinians clash after killing
Vietnam seeks international help to patrol South China Sea
"Vietnam is seeking assistance from Japan to strengthen its maritime policing in the disputed South China Sea against the threat of Beijing, according to the Tokyo-based Sankei Shimbun."
The New Crusade? Rep. Issa: Christianity's Roots Would Justify US Mission in Syria
UN To Deploy UAVs To Aid Peacekeeping in Congo
Small US troop contingent remains in Mali
U.S. spends millions on hospitals Afghanistan can't afford to run
In New Mexico desert, drone pilots learn the new art of war
Afghanistan: An Endless Financial Sinkhole
US Navy unveils first squadron of drones

## Global unrest/mob rule/angry people/torches and pitchforks ##
Grim report warns Canada vulnerable to an aboriginal insurrection
Greeks stage 24-hour anti-austerity general strike
May Day rallies kick off with angry scenes in Bangladesh
Over 30 arrested in drone protest at New York state base
May Day marked by global protests
May Day rally turns violent in Seattle
In cities across the world, anger and frustration reign on May Day as workers make demands
Turkish police tear gas Labor Day protesters
Sunni unrest revives fears of sectarian war in Iraq
Armed Revolution May Soon Be Necessary… (US)
"According to a recent Fairleigh-Dickinson poll, nearly half of all Republicans believe that we might need an armed revolution in the near future to protect our liberties and a fifth of Democrats think the same thing."
Greek police prevents 'Greeks only' food handout

## Energy/resources ##
SCE may retire San Onofre nuclear plant if restart denied
Energy Makes Up Half of Desalination Plant Costs: Study
"Energy is the largest single expense for desalination plants, accounting for as much as half of the costs to make drinking water from the sea, according to a report."
Canadian Kearl oil production is ready, but prices are not
Cameco eyes Japan reactor re-starts after profit plunge
Yemen halts oil supplies after attack on pipeline
The U.S. Has Much, Much More Gas and Oil Than We Thought
Perhaps it does. But shale drilling is a money-loser at current energy prices. How much are Americans willing to pay to make drilling profitable and keep shale-drilling operations going? -- RF
The Key to Running the World on Solar and Wind Power
Rapier knows a lot about energy, and I won't challenge him on what he says here about energy storage options in terms of energy density (it looks right to me). But I don't believe that industrial society can run on renewables, which are in reality fossil fuel extenders. -- RF
Saudi Oil Minister Plays Down Production Expansion Talk
First Commercial Scale OTEC Plant to be Built in China
Russia's April Oil Output Near Post-Soviet Record, Ministry Says
Production cuts hit Statoil profits, revenue
Nabucco, Trans-Adriatic Pipeline vetting begins

## Got food? ##
Where Have All the Oysters Gone?
"Climate change may ruin your next seafood night."
How Monsanto Went From Selling Aspirin to Controlling Our Food Supply
Declining Bee Populations Pose A Threat to Global Agriculture
Who Paid For Last Summer's Drought? You Did
Study: Most ground turkey in US contaminated by fecal bacteria

## Environment/health ##
Emergency visits related to sleep drug zolpidem rising
Scientists Hope to Create Genetically Engineered Glowing Plants
Chinese enterprises save cash leaving waste water untreated
By the Numbers: Electronic Waste
"2.37 million tons.  This is the amount of electronic waste that was discarded in 2009 in the U.S. alone. Currently, most discarded consumer electronics end up in landfills, or exported out of the U.S, often in violation of international laws."
H7N9 bird flu is a 'serious threat' - researchers warn
Exxon's Pegasus oil pipe spills crude into Missouri yard
Study: Food, skin allergies increasing in children
Using phone on the subway or elevator increases radiation 6-15 fold
Saudi Arabia Sars-like virus 'kills five'

## Intelligence/propaganda/security/internet/cyberwar ##
China Cyberspies Outwit U.S. Stealing Military Secrets
Offshore Drill Rigs at Threat from Computer Viruses
Poll: Most Americans Are OK With Surveillance Cameras
FBI: 3 men removed backpack containing fireworks from Boston suspect's dorm room after bombing
Boston Suspect Month Before Attack: I Know How to Build a Bomb
Non-Muslims Carried Out More than 90% of All Terrorist Attacks on U.S. Soil
U.S. Aims To Track Foreigners Who Arrive, But Never Leave
Digital cash replacement from Royal Canadian Mint in the works
U.S. Looks to Re-Up Its Mexican Surveillance System
8 things to know about the new anti-terrorism bill (Canada)
FBI probes new suspects in train terror plot
Robotic insect: World's smallest flying robot takes off
Report: U.S. Government and NATO Worked with Bin Laden and His Top Lieutenant 3 Months AFTER 9/11

## Systemic breakdown/collapse ##
Plastic bags, tape, broomsticks fix San Onofre leak
I suspect we could find a lot of rust and duct tape throughout the world's industrial facilities. -- RF
New 'Game of Thrones' battlefield is right here: Greed of 7 Shadow Kingdoms destroying America
Ready for Rationing? Why We Should Put the Brakes on Consumption If We Want to Survive
'Towering inferno' fears for Gulf's high-rise blocks
"Fears of a 'towering inferno' disaster in the Gulf are growing after fires left residential buildings heavily damaged in the United Arab Emirates (UAE) cities of Sharjah and Dubai."
Austerity in Greece impacting on human rights warns UN expert
The death of innovation, the end of growth (video)

## Japan ##
Abenomics Tries To Make Sure Japan Is Going Down Swinging
BOJ says monetary base soars to record on new QE scheme
"Japan's monetary base soared to a record in April, the Bank of Japan said on Thursday, as the central bank's more aggressive quantitative easing program boosts the amount of money flowing through the economy."
'A very fragile situation': Leaks from Japan's wrecked nuke plant raise fears
Leaks, Rats and Radioactivity: Fukushima's Nuclear Cleanup Is Faltering
Black Smoke Detected From Nuclear Reactor 'Monju' During Test Operations
TEPCO remains mired in red for 3rd consecutive year
8 electricity suppliers post FY12 net losses
Kansai, Kyushu utilities raise household electricity rates
Japan Utilities Raising Prices Offer Abe Wrong Inflation
Cool Biz season kicks off across Japan
40 Sony executives give up bonuses
Panasonic sold $1 billion in shares to underpin finances: sources
Abe, Saudi leaders discuss Syria, stable oil supply
Firms' post-tax profits up 45%

## China ##
China factory PMI raises doubts about economy's strength
"Growth in China's manufacturing sector unexpectedly slowed in April as new export orders fell, raising fresh doubts about the strength of the economy after a disappointing first quarter."
China Manufacturing Gauge Signals Slowdown Persisting: Economy
Regulating China's bulging money supply
Feedback Loops And The Unsustainability Of China's 'Moderate' Growth
China Reports More H7N9 Bird Flu Illnesses, Deaths
Gold Helps China May Day Sales Rise 20%
Chinese mother investors beat Wall Street tycoons in gold buying
Gold rush (gallery)

## UK ##
Families 'ripped off' by dodgy promotions and shrinking food, says Tory MP
The great Civil Service sell-off: Dozens of services and 75,000 staff set to be transferred to private sector
Royal Mail sale: ministers set to go where Thatcher feared to tread
6 plead guilty in Britain to planning terror attack
Defence cuts risk Britain's Nato standing

## US ##
Survey Shows Fracking Communities Suffer from Stress Due to Fear of Exploitation
Electric car maker Coda files for bankruptcy
Seattle, at forefront of micro-housing trend, looks to downsize living spaces
New police force hitting the streets in Camden
Manufacturing growth slows to a crawl
Construction spending rate hits seven-month low
Arizona Becomes 2nd State To Make Gold & Silver Legal Tender
Crude Inventories Surge To Record High As Energy Demand Collapses
US Energy Self-Sufficiency Nothing But 'Feel-Good BS'
'Real' Jobless Rate Still Above 10% In Most States
Businesses Cut Jobs as Sequester Impact Hits
More Layoffs or Worker Furloughs Coming to Alcoa
22 Facts That Prove That The Bottom 90 Percent Of America Is Systematically Getting Poorer
Florida sheriff reintroduces chain gang
Oil supplies reach 82-year high

And finally…
The Most Popular Excuses Drivers Give Police: Women Say They're Lost, Men Blame GPS




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