Saturday, May 25, 2013


News Links, May 24-26, 2013

## Global Ponzi meltdown/House of Cards ##
U.S., China factories struggle; Fed hints at less stimulus
Outlook for China's Economy Just Keeps Getting Worse
Will Chinese "Recession" Join Europe's Contraction?
Another Warning Call for Depositors! Bank of Spain Says Spanish Banks Need €10bn More Loan Loss Provisions
Japan Stock Market Crash Leads To Global Sell Off
Veteran fears 'beginning of the end' for Japan as bond market buckles
European Stocks Dive Most In 10 Months
Eurozone business still going backwards
France Private Sector Implosion Continues
Discussion in Spain on Leaving the Euro; Euro Exit Manifest
Slovenia adopts debt cap to stave off crisis
Greek children increasingly living in poverty, says UN report
Thai economy shrinks 2.2% in first quarter, first contraction in more than a year
OMERS considering proposal to reduce pension payouts
"Faced with a $10-billion pension-funding deficit, one of Canada's largest pension funds is considering a drastic proposal that would reduce benefits paid to retiring workers — or force them to work years longer for the same retirement income."
Retirement: Fuggettaboutit. -- RF
This year's grads 'extremely disadvantaged' when seeking entry-level work (Canada)
Tata Steel reports loss on Europe weakness
Ford to halt car production in Australia
"Car manufacturer Ford announced Thursday it will cease making vehicles in Australia in 2016 and axe 1,200 jobs, having produced its first car in the country in 1925."
Bicycle sales outpace car sales in Italy
Brazil 'to write off' almost $900m of African debt
Bank of Cyprus may Still Collapse

## Airline Death Spiral ##
Chicago jet fuel prices soar to highest in the world
India Moving to Reduce Airport Fees
3 Headwinds Pushing Against Soaring Airlines
Lufthansa Cargo Reviews Expansion Plans
SpiceJet logs huge Rs 186 cr loss in Q4
Jet Airways reports Rs 495 crore net loss in March quarter

## Fault lines/flashpoints/powder kegs/military/war drums ##
U.S. may arm rebels if diplomacy fails, Kerry says
Deadly fighting between Assad backers, opponents in Lebanon feeds fears that war is spreading
Syrian Army Advances Signal Assad May Survive for Years
Israel, in reassessment, thinks Syria's Bashar Assad will last awhile
Israel eyes Syrian missile threat to gas fields
"The reported delivery of supersonic Russian anti-ship missiles to Syria heightened Israeli concerns about protecting its offshore gas fields."
Niger bombs target Areva mine and military camp
Asia tension could lead to conflict: Philippine foreign minister
With eye on China, Japan to provide patrol boats to Philippines
Manila confirms boost to military spending
"The Philippines is determined to spend $1.8 billion on military upgrades -- mostly naval -- to protect the country against 'bullies' in its territorial waters."
Algerian jihadi mastermind claims Niger suicide attacks
French soldier in uniform stabbed near Paris
Suicide car bombing in Russia's Dagestan injures 11
Hundreds of illegals held in clampdown in Sharjah
"Hundreds of illegal residents have been arrested in Sharjah as police continue their clampdown on people who did not leave the UAE during the recent visa amnesty."

## Global unrest/mob rule/angry people/torches and pitchforks ##
Protesters around the world march against Monsanto
Blistering heat wave leads to violent protests in India
Power breakdowns and water shortage instigating protests (Pakistan)
Sweden rioting spreads outside Stockholm in sixth night of violence
Sweden reinforcing police in riot-hit Stockholm
Stockholm calmer but violence spreads outside Swedish capital
Sweden shaken as riots continue in immigrant suburbs
Protesters take to streets after London soldier slaying
Anti-fracking protest camp set up near Tarleton, Lancashire
Bangladeshi Police In Deadly Clash With Islamist Protesters
Bahraini protesters clash with police
Hundreds of Israelis demonstrate in protest of plan to export natural gas
'Don't pay electricity bills!' Egypt campaign protests blackouts

## Energy/resources ##
Must read: Difficult Truths about 'Difficult Oil'
Here is the crux of disaster that industrial civilization faces: Net energy decline. The world's oil mix has a decreasing proportion of easy (high-net-energy) oil, and an increasing proportion of difficult (low-net-energy) junk oil. Net energy decline is bleeding into all sectors and pushing the world economy into an accelerating collapse. -- RF
Massive power outages continue (Pakistan)
Egypt raises fuel amounts to 'avoid summer blackouts'
East region faces shortage of petroleum products (Nepal)
Drivers face steeper gas prices with second hike in a week (Canada)
S.Korea to take 1st Iran LPG cargoes in 7 months -sources
"South Korea will receive a shipment of Iranian liquefied petroleum gas (LPG) for the first time since imports were halted last October due to European sanctions that made it difficult to get shipping insurance, sources said on Thursday."
India likely to get another US waiver for oil imports from Iran
Prices are Set to Rise, but Survival is Not Guaranteed for Natural Gas Companies
More sobering assessments are forthcoming these days. Repeat: The "new technology" is not new, and energy companies have known about the oil and gas deposits in shale formations all along.
Tanker Owners Lose $27 Billion Since 2009, Struggle to Survive as Day Rates Drop
Report: Saudi bailout of Pakistan energy sector likely
And recall that China is also offering to help Pakistan. -- RF
Third Party Tests Prove Rossi's E-Cat HT2 Works
The E-Cat is back, and people are still falling for it!
The Case for ANWR Oil Part I: How Much Oil is There?
Romania gears up for more shale gas exploration -minister
JA Solar posts another quarterly loss
No sign of end to solar PV glut
"Overcapacity in the global solar industry is unlikely to disappear soon, suggest data and strategies outlined in the recent financial reports of top manufacturers."
Is the Solar Energy Bubble Finally Bursting?
Coal's Record Slump Poised to End on Output Cuts: Energy Markets
"European coal's longest slump in at least eight years is poised to end as imports from the U.S. fall and further declines trigger production cuts at mines in Russia and Poland."
Massive Power Outage Triggered by Falling Tree
"A massive power outage that left large areas of Phnom Penh without elec­­tricity and water and plunged Southern Vietnam into darkness on Wednesday was caused by a crane operator knocking a tree onto a high-voltage power line, Vietnam's state-owned energy provider said Thursday."
Deforestation dries up dams threatening hydropower
Power-Generating Glass Windows Almost Ready For Market
We have lots of ideas these days for producing power, such as capturing low-grade waste heat, paving roads with photovoltaic surfacing, and this. What it boils down to is that people are starting to see the need to do something to prop up their industrial lifestyles, and do it soon. -- RF
Rosneft, PDVSA to work together in Venezuela
South African Shale Gas Hits Rough Patch
Cheap shale gas bubble 'will burst within 2-4 years': Expert
Crude Landlocked as Canadians Join U.S. to Halt Pipelines
U.S. keen to see Trans-Caspian gas pipeline to be implemented
A majority on Earth face severe self-inflicted water woes within 2 generations: Scientists
Nuclear reactors in Sweden can run another 60 years

## Got food? ##
The slow burn of food prices is squeezing the world dry
Soaring food prices make money top concern over love and status – report
Almost a quarter of Americans struggle to afford food
15 Foods That Can Be Regrown From Scraps
Memorial Day Barbecue Costs Likely To Rise This Year Due To Boost In Beef Prices
NASA awards grant for 3D food printer
Unlimited fish and bread, coming right up! -- RF
Asian grain importers hit by slowing South American supply, prices rally

## Environment/health ##
America's frogs and toads disappearing fast, study warns
Concern Grows Over Fracking Public Lands
Arctic Ocean Rapidly Acidifying
Honeybees harbor antibiotic-resistance genes
"Bacteria in the guts of honeybees are highly resistant to the antibiotic tetracycline, probably as a result of decades of preventive antibiotic use in domesticated hives."
FracFocus Drillers' Registry to Create Chemicals Database
The Weather Is Getting More Expensive
World Health Organisation calls for greater cooperation in fight against deadly coronavirus
Mutant Cockroaches Learn to Avoid Sugar to Outsmart Traps
89 scientists join call for EU action on hormone-disrupting chemicals

## Intelligence/propaganda/security/internet/cyberwar ##
Obama administration targets reporters in crackdown on leaks
U.S. Power Grid Vulnerable to Enemy Attack, Lawmakers Say
Approaching the cyberwar precipice
Obama tackles drones, Guantanamo in reset of war on terror
Bottom line: It's costing too much. The war of terror will be continued to the maximum extent possible under increasingly rigorous budget constraints. -- RF
US Govt. Is Turning into a Surveillance State That's Almost Impossible to Stop
Japanese government mulls internet history tracking for anti-terrorism efforts
"The draft asserts that given the increase of internet-related and web-based crime – including incidents where perpetrators used remotely operated computer – the government should consider passing legislation that would require all citizens to preserve personal web and browsing histories."
Your Mobile Device Is a Hack Waiting to Happen: Pros
Infectious Computer Worms Are Sucking Energy And Money From Companies
U.S. casts doubt on credibility of Iran election
What irony! The black-box voting champion of the world doubts the credibility of other nations' elections. -- RF
Iran hacks energy firms, U.S. says
"Officials in Washington are claiming that Iranian hackers have stepped up attacks on the cyber networks of U.S. multinational corporations, focusing their attention on energy companies."
How the U.S. Government Hacks the World
Syria's Electronic Army attempted attack on Haifa's water system

## Systemic breakdown/collapse ##
Stricken Japan nuke plant struggles to keep workers in setback for decommissioning
"Keeping the meltdown-stricken Fukushima nuclear plant in northeastern Japan in stable condition requires a cast of thousands. Increasingly the plant's operator is struggling to find enough workers, a trend that many expect to worsen and hamper progress in the decades-long effort to safely decommission it."
Furlough Friday: Budget cuts mean an unpaid day off for many at IRS, HUD and other agencies
'Severe' ICT skills shortage highlighted by 4,500 vacancies
Shortage of key drug hampering U.S. efforts to control TB, report says
UK experiences Engineering Skills shortage
Canada grabs for America's foreign skilled workers
Cars in water after bridge collapse on I-5 north of Seattle
I-5 Bridge Collapse Shows Bridge Repair Needs Across U.S
Wal-Mart Plasters Stores With Green Dots to Stay Stocked
CPS approves largest school closure in Chicago's history
Chicago Killings Cost $2.5 Billion as Murders Top N.Y.'s
Recent food truck stops result of state law change, more scrutiny
"A 2012 change in state law that gave Indiana State Police troopers the authority to inspect refrigerated trucks has helped uncover loads of unsafe food traveling on Wayne County roadways in the past few weeks."
3rd truck in 6 weeks found to be hauling food at unsafe temperatures
And you can bet this isn't happening only in Indiana. -- RF
Again, Total System Collapse Disrupts Power Supply (Nigeria)

## Japan ##
Strict radiation reference levels shunned to stem Fukushima exodus
"The government avoided setting stringent radiation reference levels for the return of Fukushima evacuees for fear of triggering a population drain and being hit by ballooning costs for compensation, an Asahi Shimbun investigation shows."
Richard Koo Warns Of "Beginning Of The End" For Japanese Economy
Yet Another Debt Chart That Is Not Big Enough To Fit Japan
Japan's Nikkei stock index dives 7.3 percent
Bass On Japan's Turbo QE: "It Won't Be Enough"
Violence against train station staff still rife
Yahoo Japan suspects 22 million user IDs leaked: Kyodo
Japan gov't alleges 124 documents as having leaked in cyberattacks
Nuclear watchdog to officially prohibit restart of Monju
Long-term interest rates reach 1% despite Kuroda's confidence
This is some deep doo-doo. Even at the dirt-cheap interest rates prevailing until now, about half of the government's tax revenues have gone to interest payments on bonds. If yields rise to around 2%, it will totally wipe out government finances. Look for a default. -- RF
Seven & i to build fuel storage facility
"Retail giant Seven & i Holdings Co. has announced that it will build a facility to store vehicle fuel in preparation for goods distribution at the time of a major disaster."
Japan PM Shinzo Abe heads to Burma for economic talks
Get those resources and cheap labor before someone else does! -- RF

## China ##
China Manufacturing Slips Back Into Contraction
Rosy China growth forecasts fade on further signs of slowdown
China Sentiment Indicator Flops
Hong Kong shares set for worst day in 7 weeks, China bucks weakness
"Hong Kong shares are headed for their worst daily loss in seven weeks on Thursday, sinking deeper into the red after a preliminary private survey suggested manufacturing activity in China contracted in May for the first time since October."
The Commodities China's Buying Less Of This Year
China urbanization plan hits roadblock over spending fears - sources
Seeking Help — For China's Labor Market
"China's labor markets are flashing a warning sign, with new job adverts on a leading recruitment website sharply down in April, and job losses in manufacturing spreading to the services sector."

## UK ##
Theresa May keen to revive 'snooper's charter' in wake of Woolwich attack
'Phones for all pupils' to close the digital gap
UK Gas Supply Six Hours From Running Out in March
Anti-Muslim activity on the rise in UK after soldier killed in London
The student 'loans' that will never be repaid

## US ##
Health Costs For Family Of Four Higher Than Year Of Groceries
"The cost of medical care 'now exceeds the cost of groceries' for the typical American family with health insurance coverage through their employer, a new study shows."
IRS Takes The Fifth, But You Can't
Sears reports bigger-than-expected loss for 1st quarter
Delinquent Student Loans Hit Record, 30% Of 20-24 Year Olds Are Unemployed And Not In School
Federal Forecasters: Above Normal Hurricane Season to Come
USA lags behind others in paid vacation, holidays
No matter. I predict that paid vacations and holidays will last about as long as pensions and retirement. -- RF
Holder OK'd search warrant for Fox News reporter's private emails, official says
Justice Department wanted indefinite tracking of Fox reporter's email
Bridge collapse shines light on aging infrastructure
Millions of Americans will cross 'structurally deficient' bridges this weekend
Bridge Collapse Accents Structural Decay as Budgets Sag
Whatever cause, Washington state bridge collapse points to bigger problems
Thousands of bridges similar to I-5 span at risk of freak accident due to outdated designs
These 6 States Have the Most Dangerous Bridges
The Week's Second Bridge Collapse Happened Because of a Train Collision
Stocks trade flat; market ends week lower for the first time since April
Luxury brands position for U.S. boom
Military Should Run Drone Strikes, Colin Powell Says
The Housing UnRecovery Is Here: Architectural Billings Plunge Most Since 2008
Why do people feel poor even though the stock market is at a record high? The process of inflating asset bubbles and transferring wealth to targeted groups.
DIA's art collection at risk amid Detroit's financial woes
What Detroit crisis? Pension fund trustees hang out in Hawaii
TSA picked up record 65 guns in carry-on bags last week
The Post Office Returns to the Local Store

And finally…
Teens Starting to See Facebook as Old and Creepy

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