Tuesday, May 07, 2013


News Links, May 7-8, 2013

## Global Ponzi meltdown/House of Cards ##
Companies 'cook the books to meet tough targets' - survey
Europe's Shadow Economy: As Big As Germany
Euro zone slump drags on, Chinese growth sags
Indonesian growth at slowest pace in two years
Italy economy to shrink 1.4% in 2013, figures forecast
Italy: Youth unemployment nudges towards 40 percent
Australia central bank cuts interest rate by 0.25 percentage point to record low 2.75 percent
Aussie revenue short by $17 billion
Immigration to Germany Hits 17-Year High as Southern Europeans Flock North
China exports set to underscore worries over U.S., Europe demand
Global Market Outlook: "Over-production" is the big fear in all regions - and may be holding steel prices down
Generation J(obless): A Quarter Of The Planet's Youth Is Neither Working Nor Studying
French Industrial Production Confirms Hollande's Triple-Dip Fears
South Africa jobless rate tops 25%
Warren Buffett sees 'brutal' damage for savers from central bank money printing

## Airline Death Spiral ##
Boeing 787 Dreamliner Grounding Cost Qatar Airline $200 Million
Bailed Carrier Gets Fuel Discount in State Aid: Corporate India
South African Airways fights to keep flag flying
India travel agents to strike against airlines

## Fault lines/flashpoints/powder kegs/military/war drums ##
Syria: Israel used depleted uranium shells in Syria strike
No early warning for U.S. on Israeli strikes in Syria
The Hidden Cost Of The Drone Program
U.S., allies to stage naval exercise in Gulf energy shipping hub
Canadian submarine woes far from over
"Canada's plans to counter arctic incursions by ambitious neighbors in the north are being held back by further snags in the refurbishing and upgrading of the country's submarine fleet."
As Kurds Gain Power, Baghdad May be Ready to Deal
Annual DoD Report Claims Steady Chinese Military Expansion
India agrees to some Chinese demands to end Himalaya standoff
Navy Ship Can't Meet Mission, Internal U.S. Report Finds
U.S. naval shift to Asia on track despite budget cuts: admiral
U.S. raps China's maritime claims around Senkaku Islands

## Global unrest/mob rule/angry people/torches and pitchforks ##
Protest turns violent in China's Guizhou province
Moscow anti-Putin rally draws thousands
Libya Militias to Continue Siege of Tripoli Ministries
25 Killed, Scores Wounded in Attack on Pakistan Election Rally

## Energy/resources ##
EU to propose punitive duties on Chinese solar panels
Even Larger Shale Formation Exists Beneath the Bakken
Don't get excited. These formations are even deeper than those now being drilled, and will entail considerable costs. Many of the shallower formations are not worth developing even at today's high prices. -- RF
The Desalination Energy Dilemma
As North Sea Production Declines, Norway Turns to Technology Innovation
Saudis say fuel subsidies distort economy, must be cut
"Saudi Arabia should cut energy subsidies that are burdening public finances, the economy minister and the head of the state-run utility said, a move that would also tackle the issue of erosion of crude exports."
Suntech: 2012 Revenue Halved, $1.2B Contract Broke, Earnings Delayed
Texas Groundwater Levels Suffer Sharp Drop, Study Finds
"Groundwater levels in Texas' major aquifers dropped considerably between 2010 and 2011, as the state's drought intensified, according to a report published recently by the Texas Water Development Board."
BP sheds oil field stake in Brazil
Diesel shortage looms, Sask. retailers say (Canada)

## Infrastructure scavenging ##
Scrap metal thieves put road-users' lives at risk
Telkom services disrupted by cable theft
Copper cable thieves stop railway line

## Got food? ##
'There is no food': Post-revolutionary economic turmoil dashes hopes in Egypt
Starving the World for Power and Profit: The Global Agribusiness Model
Dealing with Drought: Impact on agriculture
Maine has food crisis, but not food shortage
"Maine ranks seventh in the nation for food insecurity. Too many people live in homes where they literally may not know where the next meal is coming from."
Food Is the New Tobacco
"Salt, sugar, and fat are the three pillars, the Holy Grail on which the food industry survives."
India's cheap-food plans to prove costly

## Environment/health ##
Glyphosate's Suppression of Cytochrome P450 Enzymes and Amino Acid Biosynthesis by the Gut Microbiome: Pathways to Modern Diseases
Singapore Breaks Into Homes to Stem Dengue Fever: Southeast Asia
"Singapore's dengue cases are set to surge to a record this year, prompting the government to break into homes that could be breeding grounds for mosquitoes that transmit the disease."
The world's largest 'waste dump' is found in the Pacific Ocean
"A one-liter plastic bottle, when in seawater, can reduce to so many small pieces that it is possible a single fragment could be found on every beach in the world. The entire marine food-web is suffering as a result. The breakdown of plastics into small pieces allows them to mimic the prey of all marine animals, from zooplankton to whales. When plastic is so prevalent that it fills up a creature's stomach, it turns off the desire to feed. If an organism doesn't put on fat stores for reproduction and migration, its population will crash. Floating plastic will even act as transport for some organisms, introducing them to areas where they could be problematic to resident species."
Brazil in talks with Havana to hire 6,000 Cuban doctors
China reports four more bird flu deaths, toll rises to 31
New Travel Accessory for Beijing: Gas Masks
Fracking Is 100% Safe: T. Boone Pickens
Rise in dust storms hitting UAE 'big problem for next generation'
Rising sea levels threaten migratory birds
More Evidence Environment Is Impacting Autism
Decades after war, Agent Orange still causes suffering in Vietnam

## Intelligence/propaganda/security/internet/cyberwar ##
The Death of Truth (Chris Hedges)
Pentagon: China's Government Hacked U.S. Networks
China rejects Pentagon charges of military espionage
'Invisible' thread could create counterfeit-proof clothing items
Newly Declassified Memo Shows CIA Shaped Zero Dark Thirty's Narrative
This is interesting as far as it goes, but why is there no questioning of the story itself? There's no credible evidence that the OBL hunt/assassination story is anything but a fictional narrative with a little action to make it look convincing to gullible Americans hungry for revenge and closure. The "body" was quickly dumped at sea, and no "trophy photos" have been released. Welcome to the world of US government grassy knolls. -- RF
Syrian Electronic Army hits parody news site, The Onion
Syria Internet Access Cut Off From World
Inside a Cyber War Room: The Fight Against Hacking

## Systemic breakdown/collapse ##
OPEC Falling Apart at the Seams
Increasing turmoil and chaos (not to mention high costs) are crimping hydrocarbon production around the world. It takes a lot of energy to maintain order, but net energy is declining, resulting in less order (i.e., more chaos). So we have a negative feedback loop that is growing stronger by the day. -- RF
A third of firms looking abroad for staff to cope with skills shortage (Ireland)
Indianapolis roads crumbling despite huge influx of infrastructure dollars
Why America Fell So Far … So Fast
Egypt Investment Collapses as Violence Sparks Lawless Vigilantes
Myth of 'eternal' infrastructure in doubt / Structures weaken faster than expected (Japan)

## Japan ##
Pump! Japan Stocks Soar To Tower Over Asia Markets
Fukushima debris disposal falling short
Yakuza taking a slice of lucrative Fukushima prefecture cleanup contracts

## China ##
Rents in Beijing to rise 10% annually: report
China's Parents Crave Illegally Imported Baby Formula
Diseased pork sold in several provinces
China takes on more LNG
"BG Group said Monday it's committed more than 8 million tons of liquefied natural gas to the Chinese market following a $1.93 billion deal with CNOOC."
Desalinization for China's water woes?
Report: Rich Chinese investing abroad to protect wealth, some expect children to emigrate
Chinese gold-buying spree shows no sign of letting up
Bank of China closes account of key North Korean bank

## UK ##
UKIP's Godfrey Bloom Blasts Fractional Reserve Lending as Fraud; Says Central Bankers Should be Tried for Financial Crimes
Food banks are 'sign of return to Dickensian world', warns food expert
Rising food costs hitting restaurants and cafes hard, with many paying more for food than in rent or rates

## US ##
Bernanke's Neofeudal Rentier Economy
And here you have it, just as I have said time and again: The US is turning into a neofeudalistic state. -- RF
Muni defaults still rare, but alarming trend developing, Moody's says
Amid budget cutbacks, U.S. shipping sector seeks more federal funds
FBI says arrest in Minn. disrupted 'terror attack'
Pump! S&P 500 closes at record again
Pump! Stocks: Dow Industrials Smash 15,000 Barrier
Black And Latino Wealth Falls Further Behind
Free shotguns in 15 cities: Armed Citizen Project pushes to distribute firearms
The young, educated, and massively in debt college generation
11 Reasons Why The Federal Reserve Should Be Abolished
'Flash Crashes' are here to stay; get used to them
More US babies die day they are born than any industrialized country, report shows
Americans let strangers search their backpacks
Judge may set workout deadline in biggest U.S. muni bankruptcy
Consumer Credit in U.S. Increases Less Than Forecast
March home prices see biggest yearly gain in 7 years: CoreLogic
Rick Santelli On The United Rental States Of America
JOLTS Jolts Jobs Report Cheerleaders, Implies Worst Job Growth Since September 2010
Automakers warn new ethanol mandate could damage vehicles
US Treasury Borrows Money For Free
"Imagine lending even the U.S. government money just for the privilege of getting that money back in 30 days."
Power demands up amid nuclear outage

And finally…
Men carrying a guitar 30 per cent more likely to get a date

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