Thursday, July 04, 2013


News Links, July 3-4, 2013

## Global Ponzi meltdown/House of Cards ##
Global Banking Crisis - How & Why YOU Will Get "Cyprus'd" As This Bank Scrambled For Capital!!!
Credit Contraction Exceeds 6% in Spain, Highest Ever in Crisis
OECD Highlights Japan, U.S., U.K. Debt Woes
Brazil's May Industrial Output Tumbles 2% From April
Portugal Throws New Curve Ball in Euro Debt Crisis
Portugal Stocks Tumble as Political Crisis Worsens
Barclays, Credit Suisse, Deutsche Bank Ratings Cut by S&P
What's next to go in the Dubai Holding sell-off?
Portugal's Coalition Splinters on Austerity Fatigue
"Portuguese borrowing costs topped 8 percent for the first time this year after two ministers quit, signaling the government will struggle to implement further budget cuts as its bailout program enters its final 12 months."
'KSA needs 4 million expatriate workers'
"Saudi Arabia will require more than four million foreign workers during the next 10 years to carry out gigantic industrial and infrastructure projects including the Riyadh-Jeddah railway and build economic cities, a prominent Alkhobar-based Indian businessman said."
Swedish Services PMI Falls Further in June
Inflation, Deflation, or Discontinuity?
Royal Bank of Scotland to cut 1,800 jobs
Iconic Brands That Just Vanished

## Airline Death Spiral ##
Airline profits "the cost of a sandwich"
"The average profit per passenger for the world's airlines is barely enough to buy a sandwich, the industry's governing body has said, as robust growth in demand fails to filter through to the bottom line."
IATA Study: Airlines will be challenged to meet forecast demand growth
Air passengers can cut flying cost by carrying their own meals
Air Passengers Will Pay the Price of Rising Oil: IATA

## Fault lines/flashpoints/powder kegs/military/war drums ##
Taliban attack on supply base in Afghan capital kills six
Truck bomb kills 7 in Kabul in latest 'Taliban Tuesday' attack
Wave of bombings across Iraq kill dozens
Iran importing missile-grade ore from Germany, France
Egypt ministers resign amid unrest
Protesters erupt in joy as Egypt army ousts Morsi, suspends constitution; Morsi rejects 'coup'
Egypt Military Steps Up Suez Patrols to Secure Global Trade Link
China, Russia Begin Naval Drills In Sea Of Japan
Iran and Sudan Begin to Execute Moves to Dominate Central & Western Africa
iolence cases rising in Mexico local elections

## Global unrest/mob rule/angry people/torches and pitchforks ##
Brazil leader readies reforms to defuse social unrest
Iraq attacks kill 41 as unrest surges
In pictures: Mexico's Pemex protests
Gang rape spurs protesters to storm Ukraine police station

## Energy/resources ##
Brazil billionaire's oil firm in deep water
"Five years ago it was Brazil's biggest initial public offering, today it's at risk of defaulting on its debt. Is billionaire Eike Batista's oil and gas group finally hitting the wall?"
Water Shortages Are a Major Problem for Future Energy Projects
Costs rise for Southern Co's coal gasification plant
"The cost to finish building Southern Co's controversial coal-gasification power plant in Kemper County, Mississippi, may increase by at least $160 million to $4.5 billion or more, or more than double initial cost estimates, the company said in a filing with regulators."
Oil thefts threaten Nigeria's economy, environment
Energy Slideshow: Marcellus Shale Gas Drilling Operations in Central Pennsylvania
Grid operator pushes conservation as northern California broils
WTI Crude Nears $100 - Highest Close In 13 Months
Geology isn't the only reason for climbing oil prices. As net energy decline continues to aggravate conditions around the globe, geopolitical feedback will play an increasingly big role. -- RF
Why oil and gas drilling is going deeper and further offshore
"Offshore oil and gas drilling is moving further offshore and deeper underwater as energy companies seek to find sources of production in low-risk areas, Gagliardi writes. The added incentive is that more remote basins may hold the promise of significant deposits of hydrocarbons with 200 million barrels or more of recoverable reserves."
Perro Negro 6 Sinks Offshore Angola
"Saipem S.p.A. reported Tuesday that the Perro Negro 6 (350' ILC) sank offshore Angola after the seabed collapsed under one of the rig's three legs."
Seoul's Hottest June in 106 Years
"Employees at Korea Electric Power Corp. are feeling the heat more than most as Seoul sweats through its hottest early summer in 106 years. The state-run power supplier has some of the most draconian policies in effect to save power as the capital flirts with power outages following the shutdown of two nuclear reactors in May for safety violations."
The desalination nation
"Saudi Arabia is facing a water crisis. Despite the kingdom's massive investments in desalination plants, demand is growing at a rate that threatens to outstrip supply, leading to the formulation of ambitious plans for the expansion of its desalination plants at a cost of tens of billions of dollars, amid calls from experts for urgent reforms of subsidies and water use."
Saudi taps new oil areas in plan to preserve capacity
"Saudi Aramco plans to develop two less productive areas of major oilfields, industry sources said, as Riyadh takes care to maintain excess capacity for the long term, even while non-OPEC oil supplies are on the rise."
Nuclear power faces uncertain future
Baotou halting rare earth factory
"Inner Mongolia Baotou Steel Rare-earth (Group) Hi-tech Co Ltd, a leading rare-earth producer in China, announced Tuesday that one of its rare-earth ore concentrate factories would halt production for six months in a bid to stabilize the market."
Catastrophic power outages on the rise, but new tech helps keep lights on
India loses $5 bn bid for Kashagan oil field to China
"India's ONGC has lost the giant Kashagan oilfield to the Chinese after Kazakhstan blocked its $5 billion deal to buy US energy major ConocoPhillips' stake in the Caspian Sea oilfield."
Japan opposes China's gas development near contested waters

## Infrastructure scavenging ##
Oldham cable theft attempt disrupts TV for 2.5m (UK)
"Thieves trying to steal metal cable under a Greater Manchester street disrupted television services to 2.5m addresses, police have said."
Russian man busted for stealing bridge

## Got food? ##
With eye on election, India launches huge cheap food scheme
Outbreak Traced To Pomegranates Reveals Flaws In Global Food Chain
US GM rice trials contaminate world rice supplies
How Spain, Russia and other countries cheat the world out of billions of dollars in fish

## Environment/health ##
Middle East virus claims third life as fears of pandemic spread
Third of conifers under threat of extinction, study says
IUCN Red List reports decline in world's oldest and largest species
Oil Spill After Vessels Collided Off Singapore
Gulf of Mexico Oil Platform Still Leaking after 9 Years
Climate extremes are 'unprecedented'
Pepsi Products Contain Cancer-Causing Chemical, Watchdog Warns

## Intelligence/propaganda/security/internet/cyberwar ##
Hints surface that NSA building massive, pervasive surveillance capability
"Despite U.S. intelligence officials' repeated denials that the National Security Agency is collecting the content of domestic emails and phone calls, evidence is mounting that the agency's vast surveillance network can and may already be preserving billions of those communications in powerful digital databases."
BAE launches cyber program in Australia
"A system to detect targeted cyberattacks against businesses has been launched in Australia by BAE Systems Deltica."
Two held in British Columbia 'Canada Day bomb plot'
Surveillance pervasive around the world, but Silicon Valley gives America the edge
Tools To Help You Hide Online Raise The Ire Of Advertisers
Fugitive Snowden's options narrow as asylum requests spurned
Snowden in legal limbo, his flight blocked by legal, political obstacles
Ecuador Hasn't Taken 'Step Back' From Snowden's Asylum Request -- Minister
Japan seeks answers from U.S. over embassy bugging claim
Ecuador says it found a hidden microphone at its London embassy
"Ecuador has found a hidden microphone inside its London embassy, where WikiLeaks founder Julian Assange is living, and will disclose on Wednesday who controls the device, its foreign minister said."
Talking train window adverts tested by Sky Deutschland
"A German firm is proposing to transmit adverts via train windows so that the sound appears to "come from inside the user's head" when passengers lean against them."
US Postal Service logs all snail mail for law enforcement
AT&T prepping sale of customers' anonymous location information and Web, app usage data
12 ways you could be tracked
Army Blocks Entire Guardian Website For Troops In Middle East And Asia
Guardian guide to the NSA files

## Systemic breakdown/collapse ##
Only 15% of 69,000 damaged bridges have been repaired: infrastructure ministry (Japan)
"Only about 15 percent of around 69,000 bridges across the country that are at least 15 meters long each, managed by local governments, and in need of repairs have actually been fixed due mainly to staff and funding shortages, according to a report released on July 2 by the Ministry of Land, Infrastructure, Transport and Tourism."

## Japan ##
Fukushima waste incinerator takes shape
Salaryman Blues Continue, Despite Abenomics
Government pension fund logs record ¥11 trillion gain
"The Government Pension Investment Fund said Tuesday it logged a record investment gain of ¥11.2 trillion in fiscal 2012 as domestic stocks rose sharply and the depreciation of the yen boosted the value of foreign assets in domestic terms."
International Atomic Energy Agency warns of Fukushima meltdown-inspired terrorism
"Security analysts present at a meeting of the International Atomic Energy Agency (IAEA) in Vienna believe that the Fukushima meltdown in 2011 may inspire terrorists. The disaster, which caused more than 100,000 people to leave their homes, is seen as potential basis for terrorists to carry out massive pandemonium and trepidation. The extent of the radiation threat caused by the Fukushima incident even reached 30 kilometers (19 miles) from the power plant, affecting more than ten towns."
National gov't scrambles to help municipalities repair aging bridges

## China ##
China's Pres Xi: GDP No Longer The Measure Of Success
Of course major world leaders are going to admit this only after it's clear that growth is dead. -- RF
Barclays Sees An "Increasingly Likely Scenario" Of A 3% Growth "Hard Landing" In China
Great Mall Of China: The world's new largest building is four times the size of Vatican City

## UK ##
UK Shop Prices Fall for Second Straight Month in June
Fears of new care crisis at NHS hospital
Scurvy returns among children with diets 'worse than in the war'
"Cases of scurvy and rickets have been on the rise in parts of the UK where some parents rely on takeaways and microwave meals to feed the family, health staff warned."

## US ##
Auto theft on rise; California a "hotbed for hot cars"
Big lenders wary of following oil money to North Dakota
Concern Grows Over Fracking Public Lands
They still didn't get the word? More airline passengers showing up with loaded guns
Our Energy Slaves Are in Recession
Strip mall owners struggle with lack of demand in second quarter
As I noted before, one of the greatest monuments to the consumer culture will be dead malls. -- RF
S&P cuts ratings on Detroit water, sewer bonds to junk
Wall Street Banks Extract Enormous Fees From The Paychecks Of Millions Of American Workers
Non-Manufacturing Services ISM Fails to Meet Expectations; New Orders Plunge
Investors dumping bonds
"Investors bolted out of bonds last month, yanking a record $80 billion from bond mutual funds and exchange traded funds, according to TrimTabs."
May U.S. Trade Deficit Rises Sharply

And finally…
China sex film mistakenly shown on big screen in Jilin

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