Saturday, July 13, 2013


News Links, July 11-14, 2013

## Global Ponzi meltdown/House of Cards ##
Game Over - "It's All A Farce, The Fed & German Gold Is Gone"
The economy isn't coming back
9 Plagues That Are Collapsing Capitalism
Eurozone faces its own Japanese-style lost decade as fiscal worries deepen
ECB 'in danger of overload', says chief economist
Portuguese Stew: 10-Year Bond Yield Spikes to 7.84%; Portugal's President Once Again Pleads for "National Salvation" Agreement
Global Shipping Contends With Oversupply Problems
If Egypt's Political Crisis Looks Bad, Check Out The Economy
German Officials Liken EU Banking Power Proposal to "Nazi Enabling Acts"
French-Owned Fitch Downgrades FrAAAnce To AA+
Italy debt costs rise as downgrade pressures government
Standard & Poor's downgrades Italy's biggest banks, insurer
Problems in Italy Go On (and On and On); Coalition on Verge of Collapse, Every Economic Statistic Heads Wrong Way
The wheels are coming off the whole of southern Europe
"Europe's debt-crisis strategy is near collapse. The long-awaited recovery has failed to take wing. Debt ratios across southern Europe are rising at an accelerating pace. Political consent for extreme austerity is breaking down in almost every EMU crisis state. And now the US Federal Reserve has inflicted a full-blown credit shock for good measure."
Australian Unemployment Unexpectedly Climbs to 5.7% in June
Europe birth rates 'have fallen' since economic crisis
Oil prices could be the next monster under the bed for the economy
There's an IPO drought in the Gulf
EU, United States, strike accord on derivatives regulation
Ford says auto industry needs more Europe output cuts
Leaked IMF Report Shows Dangers for US Economy
Brazil delivers another steep interest rate hike to tame prices
Spanish Banks Petition To Convert Historical Losses Into Bank Capital
10 Reasons Why The Global Economy Is About To Experience Its Own Version Of "Sharknado"
UPS cuts full-year earnings guidance due to overcapacity, weak economy

## Airline Death Spiral ##
Airline Seats Available for Elite Fliers Only
Airways NZ loses its golden glow as airlines baulk at big price increases
Asiana's San Francisco Plane Crash Seen Pushing Airline to Loss
Oil leakage found on Asiana airliner at Pudong airport
China's major airports have the worst flight delays in the world
American Airlines' passenger revenue up, but more cuts loom
More airline flights running late this year
American Eagle pilots face new cost-cutting pressures
European Airlines to Introduce U.S.-Style Bag Fees
Alaska Airlines raises fees for checked bags, ticket changes
Empty 787 catches fire, hits Boeing with new setback
Dreamliner: world's 'most eco-friendly aircraft' has troubled history
The Future of U.S. Air Travel: Fewer Flights and Higher Fares?

## Fault lines/flashpoints/powder kegs/military/war drums ##
Japanese Troops Storm California Beaches as Marine Power Eyed
Saudi Arabia 'targeting Iran and Israel with ballistic missiles'
Saudis seek patrol boats; deal worth $1.2 billion
"Saudi Arabia is seeking to purchase 30 Mark V patrol boats from the United States through a foreign military sales deal worth an estimated $1.2 billion."
Syrian rebels used nerve gas, Russia says
U.S. arms showing up in hands of pro-Assad militias
A month after U.S. pledged more help, Syrian rebels in worse shape
Iraq foreign minister says can't stop Iran arms flights to Syria
Egypt Muslim Brotherhood leader Mohammed Badie arrest ordered
U.S. still plans to send F-16s to Egypt in coming weeks
USS Kearsarge, USS San Antonio 'parked off of Egypt'
"As political unrest continues in post-coup Egypt, two amphibious assault ships have moved to the coast there, the commandant of the Marine Corps said Thursday."
China Has World's Most Active Missile Programs, U.S. Says
US and China Battle it Out for Latin America
North Korea 'Redeploys' 300,000 Troops to Boost Economy
Iraq violence: Dozens killed and wounded in new attacks
Iraqi city of Kirkuk hit by deadly bomb attack
Mosque, Funeral, Soccer Field Attacks: 46 Iraqis Killed, 106 Wounded
Israel slashes armor, air units in $1.9B defense cuts
"Israel test-fired a new rocket propulsion system Friday as part of its drive to boost its missile capabilities, while the military prepared to retire much of the army's vaunted tank force and several air force squadrons to save $1.9 billion in defense spending over the next five years."
Crash Cripples Israeli Fighter Fleet
US Seeks Growing Military Presence in Philippines
Islamic militants intensify attacks in Egypt's Sinai after Morsi's fall
Latin American Countries Recall Ambassadors From Spain, France, Italy And Portugal Over Snowden "Neo-Colonial" Flap

## Global unrest/mob rule/angry people/torches and pitchforks ##
Brazil indigenous protest blocks major iron ore railway
Low-wage food workers stage one-day strike at Smithsonian museums
Street protests spread chaos across Brazil
"Protesters brought Brazil's main highways to near standstill amid continuing popular anger over alleged misuse of public funds and neglect of basic services."
Greeks protest job cuts, unemployment hits new high
"From police to garbage collectors, Greek municipal workers took to the streets of Athens for a fourth day running on Thursday to protest against government plans to slash public sector jobs, while unemployment figures hit a new high."
Hooded protesters torch bus, set up barricades ahead of nationwide strike in Chile
Armed, Masked Paramilitary Troops Called in to Protect Wisconsin Mining Site from 15 Protesters
California Inmates Refuse Meals in Protest Over Solitary
Hundreds of thousands rally for Morsi in latest battle of street protests
China cancels $6 bln uranium plant after protest
Thousands protest urban projects bill in Istanbul

## Energy/resources ##
Peak oil's death has been greatly exaggerated
"Fans of the the Oil Drum website are blaming the success of fracking for its demise. Not so fast."
Amigos, the mere fact that we are desperately chasing junk oil shows that peak oil advocates were right all along.  -- RF
Energy-poor Jordan faces explosive electricity hikes
Transocean Sets World Record for Deepwater Drilling
Deeper and deeper. Keep your eye on that net energy gauge as the needle continues dropping. -- RF
Germany to End All Solar Subsidies by 2018
Power company to reduce NY's electricity use again due to heat
Rich With Water But Little To Drink In Tajikistan
Gehrlicher Solar Files for Bankruptcy in Germany
Peak Water: What Happens When the Wells Go Dry?
Oil heads toward $107 a barrel after sharp drop in US crude inventories signals higher demand
US Shale Boom May End Iran's Dreams of Developing World's Largest Gas Reserves
Talk about cutting off one's nose to spite one's face! Of course the US would gladly use its loss-making shale gas in an attempt to hurt Iran. -- RF
Egypt's future crude oil import requirements for 3 population scenarios
New fuel shortage threat looms on power firms (India)
Second islandwide power outage in two months (Guam)
Saudi Arabia's Long Search for Gas Ending With Low Price
"Saudi Arabia's decade-long search for natural gas is ending with only two companies finding fields, and those drillers need higher prices to move forward."
Wildfires Spur Surging Los Angeles Power Costs: Energy Markets
EU lawmakers deal a blow to crop-based biofuels
New offshore wind turbines begin turning, but cash scarce -EWEA
Three solar firms file for bankruptcy in a week
Iranian tankers catering to energy needs of Bashar Assad's regime
Geopolitical factors causing oil price spike
You don't say! But keep in mind that depletion of oil in stable countries and regions is forcing the world to seek oil in more inhospitable places. -- RF
Violence, bottlenecks threaten Iraq's new oil strategy
"Iraq's troubled government is drawing up a new energy strategy that envisions investment of $620 billion in the next 17 years to triple production to 9 million barrels per day by 2020. But, just as global industry experts decried Baghdad's original target of 12 million bpd by 2017 as way too ambitious, they're now saying the new blueprint is beyond reach as well."
Long-time readers will recall I've said Iraq will never attain such ambitious targets. It is being hindered by geopolitical feedback, and the growing expenses of oil field development and replacing junk infrastructure. -- RF
Factbox - Offshore wind power subsidies
Groundwater Depletion: Another Crisis Looming In Pakistan

## Infrastructure scavenging ##
Thieves steal more than $40K worth of copper cable from LCEC substation
Cumbernauld cable thieves cause rail disruption
AC thefts heat up as thieves cash-in on scrap metal

## Got food? ##
Egypt has less than two months imported wheat left, ex-minister says
Monsanto, Syngenta, Dupont, Bill Gates Major Sponsors of World Food Prize
Global threat to food supply as water wells dry up, warns top environment expert
Are Antibiotics On The Farm Risky Business?
Heavy Rains Send Iowa's Precious Soil Downriver
U.S. Drought Conditions Spread

## Environment/health ##
Wastewater Wells, Geothermal Power Triggering Earthquakes
Great Barrier Reef's condition is declining
Flash flood sweeps cars off road in Colorado
U.S. drought grows for fourth week; South driest in weeks
US Wells Spilled More Oil in 2012 than Exxon Valdez Disaster
Rising Temps, Shrinking Snowpack Fuel Western Wildfires
More than 2 million die yearly from human-caused pollution
Study: Geothermal power plants trigger small quakes near San Andreas fault

## Intelligence/propaganda/security/internet/cyberwar ##
Secret Intelligence Court a Precursor to Tyranny
Linchpin for Obama's plan to predict future leakers unproven, isn't likely to work, experts say
"In an initiative aimed at rooting out future leakers and other security violators, President Barack Obama has ordered federal employees to report suspicious actions of their colleagues based on behavioral profiling techniques that are not scientifically proven to work, according to experts and government documents."
The price of surveillance: Phone companies charge millions for costs, while web data is cheap
IBM And Sprint Team Up On Smarter Connected Cars That Send Data When The Engine's Off
Report: Microsoft Helped NSA, FBI Get Around Encryption
Microsoft denies giving US intelligence agencies broad access to data
"Microsoft has been forced to defend itself against renewed claims that it has given US intelligence agencies widespread access to its data systems, including assisting the National Security Agency to read encrypted messages on"
Deception Services: Company Offers To Create And Maintain Webs Of Lies
Military Cyber-war wiped tens of thousands of PCs
Germans Hail Snowden as NSA Evokes Stasi Seizing Lives of Others
Snowden emerges from hiding in Moscow airport, says he wants asylum in Russia
Russia says no asylum request yet from fugitive Snowden
"Russia kept former U.S. spy agency contractor Edward Snowden at arm's length on Saturday, saying it had not been in touch with the fugitive American and had not yet received a formal request for political asylum."
About the Reuters article: The latest effort to distract attention from the NSA revelations is more absurd than most
Snowden documents could be 'worst nightmare' for U.S.: journalist
Anyone Who Says the Government Only Spies On Potential Bad Guys Is WRONG
Around the world, DNA databases solve crimes, but critics fear creep of genetic surveillance
NSA Talking Points On Utah Data Center: We're Teaming Up With Tech Companies To 'Protect' The Internet
Iris scans are the new school IDs
Weapons of Mass Distraction
Morales says US hacked Bolivian leaders' emails

## Systemic breakdown/collapse ##
GPs 'rationing hospital care' (UK)
British child death rates are 'a major crisis', says paediatricians' leader
The situation on the ground in Athens
27 Facts That Prove That The Family In America Is In The Worst Shape Ever
Spain energy overhaul to hit companies, consumers
"A major overhaul of Spain's energy sector set to be approved on Friday will hit companies and consumers hard but it may fail to plug a growing gap between power prices and generation costs, sources with knowledge of the matter said."

## Japan ##
Fukushima leaking radioactive water into sea?
Probe launched after contractor JDC dumped radioactive water into river for irrigation in Fukushima
TEPCO's plan to halt spread of radioactive water based on shaky theory
'Transmutation facility' eyed for N-waste
Japan's Black Dust (Fairewinds)
Japan's internet cafes: Home for the underemployed
4 dead, around 1,000 taken to hospital as heat wave continues in Japan
Health ministry warns of rubella vaccine shortage due to outbreak
Okinawans explore secession option
Thrift trumps Abenomics as Japan shoppers stick to bargains
Ratio of nonregular workers hits record high in Japan
'Abenomics' dark side: hinterland pay cuts
UN says Japan must further empower women to increase birth rate
Officials at the UN should have their heads examined if they think Japan needs more people. -- RF
96 buildings in Tokyo reported of possible 'share house' violations
Cars Yet to Motor on Abenomics
Homeless Japanese unable to vote despite citizenship

## China ##
Here's What The China 'Super Bear' Scenario Looks Like
Chinese To Spend Billions On American Real Estate
More Chinese cities likely to curb auto sales: industry group
Selling lots of cars, racking up lots of debt… These are the kinds of things a country must do to make its Ponzi economy grow. -- RF
Chinese banks lend aggressively in early July, risking another crackdown
China Unveils Massive Building — With Fake Beach, Fake Sun
China slashes national games budget by 78 percent
"China is slashing the budget for its national sports competition by 78 percent as the economy slows and the government tries to save costs."
China central bank office mobbed by borrowers seeking free loans
China Tops World's Shopping Mall Craze
Commodity suppliers hurt by China demand
"China's slowing commodity imports have been hurting major world commodity suppliers, and the situation won't improve in the second half, experts said on Thursday."
Shanghai Gold, Silver Volumes Surge To Records and Premiums Rise As Night Trading Begins

## UK ##
UK manufacturing suffers surprise output fall after string of upbeat surveys
Future of UK Offshore Wind Sector in Jeopardy
Wirral council switches street lights off in new round of cuts
Cost of a degree 'to rise to £26,000' after tuition fee hike
Man dies after being tasered by police
Government emails targeted by cyber-gangs
"Sophisticated hacking networks in China,  Russia and beyond hit dozens of departments"
Benefit cuts sends number of food bank users soaring
Bright future for British shale, IGas says
And it will likely be a money-loser, just as in the US. -- RF
Tipton mosque blast was 'terrorist attack', say police

## US ##
Monetary Base Skyrocketing As Unemployment Hits 23.4%
The debt reckoning has arrived: Total debt owed now approaches $60 trillion while Fed wrestles with interest rate confidence game.
Ex-FISA judge: Secret court 'an administrative agency'
Sequester cuts lifelines for 'invisible' women
"Older women are losing Meals on Wheels, single mothers are losing Head Start and domestic-violence victims are going back to perpetrators out of desperation. Service providers say the cuts hit people who don't show up to lobby legislators."
Only 1 percent of "terrorists" caught by the FBI are real
"The Terror Factory author Trevor Aaronson exposes the Bureau's undercover sting operations for the farce they are."
Bankruptcy could cost Detroit $100 million in legal fees
7 Ways The Obama Administration Has Accelerated Police Militarization
"Why did you shoot me? I was reading a book": The new warrior cop is out of control
"SWAT teams raiding poker games and trying to stop underage drinking? Overwhelming paramilitary force is on the rise."
The Decline Of Breadwinner Jobs Has Resulted In The Longest Bread Lines In American History
D.C. City Council Proposes Super-Minimum "Living Wage" of $12.50 an Hour; Wal-Mart Threatens to Pull Out
House Passes Farm Bill Without Food Stamps
Dreams delayed or denied, young adults put off parenthood
US, state task force takes on organized retail theft
"Federal and Florida law enforcement officials said Tuesday they are creating the nation's first task force to tackle the growing problem of organized retail theft, which victimizes nearly every store nationwide and costs retailers some $30 billion in losses each year."
It's Time Our Policies Reflect The Fact That Energy And Water Are Fundamentally Intertwined
"Coal, nuclear and natural gas plants use enormous amounts of steam to create electricity.  Producing all of that steam requires 190,000 million gallons of water per day, or 39% of all freshwater withdrawals in the nation."
Gas prices expecting another surge soon
Senators introduce bill to break up megabanks
What Every Student in America Needs to Know About the Federal Reserve
Pulling Back the Curtain on Phony Government Statistics
The Las Vegas Housing Market has Gone Full Chinese
Mother Of All Bubbles Pops, Mess Ensues
"The asset bubbles the Fed's money-printing and bond-buying binge has created are spectacular, the risk-taking on Wall Street with other people's money a sight to behold. Among the big winners were mortgage Real Estate Investment Trusts – and those who got fat on extracting fees. But now the pendulum is swinging back, and the bloodletting has started."
Lawmaker demands the National Guard patrol the streets of Chicago to stop gun violence
Military: Freeze possible on all promotions, recruiting, PCS moves
Climate Change: Effects on Our Energy
JP Morgan and Wells Fargo post big jump in profits
Foreign-Student Work Plan Cut by U.S. as Complaints Mount
10 ways Generation X is hosed

And finally...
Tenn. man gawks at skinny-dipper as home is robbed
Former NBA star Baron Davis says he was abducted by aliens
Abe claims Fukushima food keeps him healthy
Japan launches world's first 'snail facial'

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