Wednesday, June 12, 2013


News Links, June 11-13, 2013

## Global Ponzi meltdown/House of Cards ##
Abenomics has bond traders frenzied, hedge funds counting on Japan crash as public debt swells
Dubai's Muted Inflation Masks Soaring Costs as Salaries Stall
Casino Dubai's Rebound Pitch Ignored by Global Investors
Keep watching for that next mass exodus of foreign workers. -- RF
La Dolce Vita Eludes Italian Students Found Unemployable
Eurozone: three countries have debt-to-income ratios of more than 300%
Workers suffer record pay cuts to keep jobs (UK)
Michelin to shed 700 jobs in western France
Austerity begins at home: PM orders ministries to cut spending by 30% (Pakistan)
Greek Privatization Effort Flops on Lack of Bidders
"If things are really stabilizing or set to get better in Greece and the rest of the PIIGS in Europe, then why did a privatization sale end up with no bidders? That is what we would like to find out about in Greece now. The nation was trying to privatize the natural gas company called Depa. Dow Jones reported the failed sale earlier on Monday and this is not a good sign for outside perception that things in Europe are getting much better."
Greece to close state broadcaster
"The government of Greece said it will shut down the national broadcaster until further notice from Wednesday morning as part of its plan to cut costs."
Nicole Foss - New Zealand And The End Of Economic Growth
Global Job Recovery Slips: Manpower Employment Outlook Survey
"Job creation will likely be capped by the tepid growth of most large economies. Europe in particular will be a drag on a global jobs recovery. Without the addition of ten of millions of jobs around the world, a consumer led recovery of GDP improvement is unlikely. That means for most nations, the chance for much recovery at all is limited, and with those limits should come substantial concern about whether a recovery is likely at all."
Shadow banking squeeze catches up to majors
Australian Dollar Plunges as Home Loans Dive; Australia Insolvencies Hit Record; Worst is Yet to Come
French homeless seek refuge in offices
EU Unveils Plan to Halt European Steel Sector Decline
System D: Floating Economic Boats Beneath the Surface
Dubai World sells Gazeley in first step to lighten debt burden
Investors losing patience with Turkey
Falling water levels imperil Great Lakes shipping

## Airline Death Spiral ##
SAS airline Q2 loss narrows to $59 million
"Scandinavian airline group SAS says its second-quarter net loss narrowed to 388 million kronor ($59 million) from 429 million kronor a year earlier as a result of cost cuts."
Flying To Paris This Week? You May Not Get There
Europe braced for French air traffic controller strike
Airlines collect over $27 billion in extra fees and charges
JAL Dreamliner aborts flight to Singapore after system glitch
ANA Scraps 787 Dreamliner Flight After Engine Fails to Start
"ANA Holdings Inc. (9202), operator of the world's biggest fleet of Boeing Co. (BA) 787s, scrapped a service with the Dreamliner today, the third cancellation for the aircraft in Japan this week after a four-month grounding."
Air Canada plan to reduce flight attendants on planes likely to fly despite union opposition

## Fault lines/flashpoints/powder kegs/military/war drums ##
Egypt "war" talk raises Ethiopia Nile dam stakes
Militants launch suicide attack near Kabul airport
300 Muslims detained in Moscow after Putin crackdown
Iraq rocked by series of car bombs, killing 57 and extending wave of violence
Another Bloody Monday in Iraq: 94 Killed, 289 Wounded
Japan holds unprecedented military exercise in U.S.
"Japanese troops will converge on California's southern coast in the next two weeks as part of an unprecedented military exercise with U.S. troops aimed at improving that country's amphibious attack abilities."
Israeli figures show spike in new settler homes
Pressures grow on global defense spending: report
"Defense industries in the Western Hemisphere and Europe already know this, but defense spending cuts across the industrial world pose one of the biggest challenges to financial health of the sector."
China to Build Panama Canal Bypass Through Nicaragua
Indian-Vietnam naval exercise launched in S China Sea
Russia's Putin says Iran nuclear push is peaceful
White House Meetings Focus on Arms for Syrian Rebels

## Global unrest/mob rule/angry people/torches and pitchforks ##
Gunfights erupt over diesel shortages (Egypt)
Turkish Police Move to Retake Square Sparks New Clashes
Turkey's anti-government protesters, PM refuse to back down in showdown over Taksim Square
London marchers protest against upcoming Group of Eight summit
Nearly 300 Nike Clothing Makers Fired After Strikes In Cambodia

## Energy/resources ##
Earth may have more oil than anyone thought
"The Energy Information Administration raises its estimates of shale oil and gas, which are both costly to extract."
Shale oil 'adds 11% to world reserves'
A textbook example of confusing quality and quantity. Junk oil will not save the world. -- RF
Fuel shortage in Sharjah: Pumps open but taps dry (UAE)
LNG Boom No Comfort as Petronas Sees Cheap U.S. Gas Fallacy
Fracking Companies Take Advantage of Amish Religious Beliefs
South Korea Approves Nuclear Reactor Restart as Shortage Looms
Korea Energy Effort Hit by Heat Wave
Egypt's cement production drops 20% as gas shortage prompts power supply constraints
Fuel-short Egypt faces long, hot summer
The risks of Saudi oil consumption
"According to a Chatham House report, Saudi Arabia's surging domestic oil consumption – coupled with its inadequate supply growth – could turn the kingdom into a net oil importer by 2038. Guzzling more than a quarter of its 11.1 million barrel per day production in 2011, Saudi Arabia is the fifth-largest oil consumer in the world."
CNG shortage leaves motorists 'gas'ping (India)
Damn the Sanctions and Bring on the [Iranian] Gas, says Pakistan
Low energy return on investment (EROI) need not limit oil sands extraction
I don't see anything promising about this. Of course such operations could keep going, but dependence on junk oil nevertheless means lower net energy for industrial/high-tech society. -- RF
Peak oil: preparing for the extinction of 'petroleum man'
Scaling Up Solar Power May Demand Updated Electric Grid
Russia backs away from Greek energy sector
Asia needs 'energy settlement'
"Malaysian Prime Minister Najib Razak has called for a 'comprehensive energy settlement' for the Asia-Pacific region."
EU official: shale gas el dorado out of Europe's reach
Trouble Brewing as Russia Increases Natural Gas Prices to Armenia
World Has 10 Years of Shale Oil: US Department of Energy
Commentary: Is it only a question of when the US once again becomes a net oil exporter?
Good reality check, in case you still had delusions about the US joining OPEC. -- RF
Why India Can't Unlock Its Shale Gas
Well surprise, surprise. Yet another country is coming to the realization that shale gas is a loser. -- RF
When the bunker fuel pool cleans up, it will be good ol' diesel doing the job
Oh, mama. Even now the world is not exactly overflowing with spare diesel fuel, and from this it looks as though marine transport is going to further pressure diesel supplies. -- RF
Forget Oil – There is a Far More Precious Commodity at Stake (Water)
FSU crude oil exports declined by 5.5 % in last 2 years
Whistleblower calls TransCanada's practices 'organized crime'
Power, water cuts, fuel shortages hinder commerce in Nyala, South Darfur
Two-hr blackout halts some of Equate's industrial units (Kuwait)

## Got food? ##
Organic growers lose decision in suit versus Monsanto over seeds
"Monsanto Co. on Monday won another round in a legal battle with U.S. organic growers as an appeals court threw out the growers' efforts to stop the company from suing farmers if traces of its patented biotech genes are found in crops."
Database says level of global 'land grabs' exaggerated
The agricultural revolution - UK pushes Europe to embrace GM crops
Bee shortage threatens Calif. almonds, national food chain

## Lifestyle Solutions ##
Finding Your Way to Your Authentic Career

## Environment/health ##
An overview of Fukushima radionuclides measured in the northern hemisphere
Triple Threat: Middle East Respiratory Virus And 2 Bird Flus
Huge, dense world population + high mobility = big trouble
Report: Flood zone will cover fourth of NYC by 2050s
"By the 2050s, more than 800,000 New York City residents could be living in a flood zone that would cover a quarter of the city's land and New Yorkers could sweat out as many 90-degree days as is now normal for Birmingham, Alabama, as effects of global warming take hold, a scientists' group convened by the city says."
Western U.S. states seeing more and more dust, study finds
Drug-Resistant Gonorrhea Rises In Great Britain
UK raises alarm on deadly rise of superbugs
Floods Could Cost Germany Billions
What the Cellphone Industry Doesn't Want You to Know About Radiation Concerns

## Intelligence/propaganda/security/internet/cyberwar ##
Russia may grant NSA whistleblower Edward Snowden asylum
More revelations to come from NSA leaker Snowden?
Amid Data Controversy, NSA Builds Its Biggest Data Farm
Data-collection program got green light from MacKay in 2011 (Canada)
More data breaches mean larger fraud risks
Google seeks approval from Justice Department to disclose more numbers on requests about users
Orwell's '1984' Soars on Amazon After NSA Snooping Reports
Can Customers Sue Over NSA Surveillance?
New Electronic License Plates Could Be Controlled By DMV, Law Enforcement Agencies
Government Spying on Americans … and then Giving Info to Giant Corporations

## Systemic breakdown/collapse ##
Gas stations closing in Japan, battery manufacturers on the ropes, refineries being shuttered in Europe… Without high volume and high prices, the high-tech energy supply system begins to break down. -- RF
Exide, a Big Maker of Car Batteries, Files for Bankruptcy
New challenges add to European refinery woes
Number of gas stations reaches new low in Japan (article in Japanese)
According to a recent report, there are now 257 municipalities nationwide with only one or two gas stations. Declining consumption and the financial inability to repair or replace aging, corroded underground tanks is forcing more and more gas stations to close. According to another article, the government's Agency of Resources and Energy says that at the end of 2011 there were 37,743 gas stations in Japan, down nearly 40% since the "gas station peak" in 1994. (Summary by RF)
FDA: Fungal growth in unopened vials of steroid
Seoul to reduce subway operations in summer to save energy
"The Seoul municipal government said Monday it will cut down subway operations in the summer months as part of efforts to save energy amid concerns over a power shortage following the recent shutdown of nuclear reactors."
Cargo theft is growing problem for trucking industry (Canada)
Red tape trauma: 851,000 war veterans await benefits
'Orange Grove Gangs' Become Product of Spain's Crisis

## Japan ##
Storage units in Tokyo being used as living spaces for the poor
KDDI tries to counteract recent troubles / New investment to address service outages
60% in Fukushima worry radiation may affect kids
Kyushu Electric spends 10 billion yen a year to maintain idle nuclear reactors
Status of melted fuel in Fukushima reactors uncertain despite push for early removal
Japan April core machinery orders fall 8.8 percent
Hokkaido Faces Grid Congestion With Solar Application Surplus

## China ##
China's Economy Firing Blanks; Second Quarter Seen Worse Than First
China's exports perhaps not as big as officially announced

## UK ##
Workers suffer deepest cut in real wages since records began, IFS shows
"Britain's workers have suffered more financial pain since 2008 than in any five-year period of the modern age, according to research by a leading tax thinktank that shows employees have sacrificed pay to keep their jobs."
Drivers avoid high fuel costs at motorway petrol stations
The truth about Richard Branson's Virgin Rail profits
High house prices empty the countryside of young families
U.K. $39 Billion Tidal Barrage Plan Not Economic: Report
Police storm building occupied by anti-G8 protesters
Swanland sinking: Cost-cutting beforehand, says MAIB
Bedroom tax 'hell' with shortage of homes

## US ##
N.Y. to require some gas stations have back-up power
Battery maker Exide Technologies files for bankruptcy
'Another Phony Jobs Report From a Government That Lies About Everything'
The New Normal America: A Country Where Eating And Drinking Is The New Manufacturing
Report: Homeschooling Growing Seven Times Faster than Public School Enrollment
Philadelphia Prepares to Dismiss Teachers Amid Budget Shortfall
Seniors in 48 states face serious income shortage
US seniors risk outliving their money
Millennials' Student Loan Debt Up 76% in Just 5 Years
SNAP Food Stamp Participation: March 2013
Companies rally against procurement cuts
Detroit Rescue Plan Vetted as City Confronts Bankruptcy
Electric car maker Miles Electric Vehicles files for bankruptcy
Eight in 10 Retailers Agree Organized Retail Crime Activity Has Increased in Past Three Years
Millions spent on casinos didn't help Atlantic City
US lawmakers call for review of Patriot Act after NSA surveillance revelations
Spike in gas prices threatens Michigan road funding
Electricity future dim in Colo.?

And finally…
Alex Jones Sells Gold on Sirius With Bombing Conspiracies
How The Human Face Might Look In 100,000 Years
I guarantee that people won't be enlarging their eyes by using Google Glass in the future. -- RF
Do Legos need anger management? Figurines grumpier than ever, study says

<< Home

This page is powered by Blogger. Isn't yours?