Saturday, July 06, 2013


News Links, July 5-7, 2013

## Global Ponzi meltdown/House of Cards ##
Greek Salaries Cut Another 10%
The Derivatives Loch Ness
Pakistan agrees $5.3bn IMF loan
Brazil to Cut Expenses to Meet Primary Surplus Target - Report
Brazil mulls boosting allowable returns on big projects
"As Brazil looks for private bids for major public infrastructure projects, it may have to raise the rates of return being offered to keep investors interested at a time of market turmoil and higher risk."
Austrian jobs on line as retailer Dayli fails
German Manufacturing Orders Disappoint Again
Australia's Growth Solution— More Australians
Singapore Wealth Fund Size Soars to Record High
Canada's banks considering bid to become trading hub for China's yuan
Bundesbank Warns China's Currency "On Its Way To Becoming Global Reserve Currency"
Dubai steps up asset sales to cut debt pile
Why Qatar developers struggle despite construction boom
"Qatar's real estate developers are struggling even as the country embarks on huge infrastructure building plans - a warning to investors that despite the billions which the Gulf state is throwing around, they won't necessarily profit."
Overcapacity is one of the biggest challenges - OECD Steel
"The OECD Steel Committee said that the excess capacity is one of the biggest challenges facing the steel industry today."
Global Earnings Downgrades Worst In 12 Months
S&P Downgrades Nokia To Dead Meat
The GCC's 20 tallest towers under construction (slide show)
Samsung Electronics' second quarter misses forecast as smartphone worries deepen
19 Reasons To Be Deeply Concerned About The Global Economy As We Enter The 2nd Half Of 2013
Red Hot China Property Bonds Falling Out of Favor
41 IMF Bailouts And Counting – How Long Before The Entire System Collapses?
You Are In The Ponzi Scheme Whether You Realize It Or Not

## Airline Death Spiral ##
Consumers attempt to stop AA and US Airways merger
Planes abandoned at Athens ghost airport (video)
Idle aircraft, empty terminals, weeds growing out of runway cracks… Although a symbol of Greece's economic ailments, this will be the fate of many airports around the world. -- RF
Airports use animals for maintenance, security
Airline profitability: airlines can no longer afford to be the poor relations of aviation
Airplane leg room shrinking, crowded flights growing (video)
Bus service to Cardiff Airport cancelled due to low passenger numbers
IATA: Air cargo growth in 'suspended animation'
"IATA's May global airfreight figures depict a sector where 'it is getting harder to find optimistic signs,' IATA DC and CEO Tony Tyler said."

## Fault lines/flashpoints/powder kegs/military/war drums ##
Heartburn in Washington: India Calls Iran "Critical" to their Energy Future
Egypt crisis: mass arrest of Muslim Brotherhood leaders as army takes firm grip
Egypt army opens fire on pro-Morsi protesters
Mohamed ElBaradei Appointment as Interim Prime Minister on Hold
Chinese general warns India over border dispute
Bolivia's President Evo Morales threatens to close U.S. embassy
Ethiopia Ignores Egypt's Empty Threats and Continues with Construction of Dam
China-Pakistan friendship 'sweeter than honey', says Nawaz Sharif
China, Russia hold largest-ever joint naval drills
Suicide bombers kill more than 30 in Afghanistan
China's New Jet, Radar Complicate US Posture

## Global unrest/mob rule/angry people/torches and pitchforks ##
NSA surveillance: protesters stage Restore the Fourth rallies across US
Egypt's new age of unrest is a taste of things to come
"Mass street protests are symptom of unsustainability of IMF model in the face of environmental and energy challenges"
At least 30 killed in day of protests in Egypt
Protesters clash with police at Istanbul's Gezi Park

## Energy/resources ##
2/3 of Egypt's oil is gone 20 years after its peak
Caracas, Moscow lock step on energy
MIT Invent New Algorithm to Protect the Electric Grid from Blackouts
LOL (Lots Of Loadshedding) (Pakistan)
High Oil Prices:The Last Thing Asia Needs Right Now
Must read: Satellites confirm: Industrial-scale agrofuels are not viable (Tad Patzek)
"So, when someone says that 50 gigatons/year (1800 EJ/year) of biomass carbon are potentially available for our cars, tanks, and jets to burn as fuel, that person should be declared insane, and become a top adviser to the green nonprofits, think tanks, and world governments. This person should also be a media star, simply because we live in an insane world in which money and mass are reported to be created from nothing."
German grids to raise funding from citizen investors
Repsol Delays First Shale-Gas Project in Spain After Frack Ban
The trend is against bribes—except in the US
Must see: Shale Truth Interviews Arthur Berman segment #2 Profitability (video)
It is just as I have said all along: shale gas is a big loser. And Berman has actually examined the balance sheets of companies doing fracking. His assessment is frank and shocking. -- RF
South Carolina plutonium plant plagued by cost overruns, poor planning
"Scattered among the pine forests of this 310-square-mile federal reservation are five mothballed nuclear reactors where tens of thousands of people once worked feverishly to create as much plutonium as they could. By the time production ended in 1988, the site was a horrendous mess. Today, about 36 million gallons of radioactive liquid wastes sit in underground tanks, and most federal spending at the site is devoted to nuclear-related cleanup, not production."
Ecuador says China's CNPC joins $12 billion refinery project
South Korean nuclear reactor shuts down
"A South Korean nuclear reactor shut down Friday after a technical malfunction, operators said, at a time when the government is already warning of serious power shortages because multiple reactors are offline."
Explosions shut down Colombia's No. 2 oil pipeline
"Two explosions have shut down Colombia's 80,000 barrel-per-day Cano Limon-Covenas oil pipeline, state-controlled oil company Ecopetrol said on Friday, with a military source describing them as attacks carried out by leftist rebels."

## Got food? ##
Must read: The Earth's plants produce exactly what others eat (Tad Patzek)
"We can hide behind the fossil subsidies for a while, but in the long run industrial agriculture systems must fail, Monsanto's claims to the contrary notwithstanding."
How The DIY Butter Trend Got Churning
India's Food Security Bill, by the mind-blowing numbers
U.S. Cattle Ranchers Endure More Drought, Rising Feed Prices
Argentina Applies Law That Jails Hoarders as Bread Surges
Whole Foods recalls Crave Brothers cheeses in 30 states & DC after Listeria outbreak
Growing Food Hidden in the Forest

## Lifestyle Solutions ##
Decolonizing Diet Project (Native American food)

## Environment/health ##
Development, weather seen as reducing butterfly numbers
What Is Farm Runoff Doing To The Water? Scientists Wade In
WHO calls emergency telephone meetings on SARS-like virus
60 missing after train carrying oil explodes in Quebec
Whales flee from military sonar leading to mass strandings, research shows
Bees dying by the millions (Canada)
Heat waves lead to hot tempers -- and here's why

## Intelligence/propaganda/security/internet/cyberwar ##
Gov Spying Boosts Swiss Data Center Revenues
"Companies concerned about keeping their data safe from prying governments are turning to Swiss data centers that have the security of national laws which protect information from the other countries' spy agencies."
France 'has vast data surveillance' - Le Monde report
"France's foreign intelligence service intercepts computer and telephone data on a vast scale, like the controversial US Prism programme, according to the French daily Le Monde."
Here's the building where the PRISM of France is storing all its citizens' data
WikiLeaks: Snowden makes 6 new asylum applications
Snowden's fate up in air after Nicaragua, Venezuela say they're willing to grant asylum
Bolivia joins countries offering Snowden asylum
Here's The Moment Where Egyptian Security Forces Arrested Presenters And Shut Down Al Jazeera's Coverage Live On Air
Gambia to punish those who spread 'false news' with 15 years in prison and $100,000 fine
South Korea to Train 5,000 Cybersecurity Experts
Wiretapping grows and goes mobile
State Department bureau spent $630,000 on Facebook 'likes'
Swiss court allows Credit Suisse to hand client data to U.S.
Xbox One to feature biometric targeted advertisements
Montana becomes First State to Require Search Warrants for Cellphone Location Tracking
NSA recruitment drive goes horribly wrong
"Staff from the National Security Agency got more than they bargained for when they attempted to recruit students to their organisation earlier this week …"

## Systemic breakdown/collapse ##
Parks across country struggle to preserve recreation (US)
N.Y.'s backlog of bridge work on the rise
"2,073 spans in N.Y. now classified as structurally deficient"

## Japan ##
Highly radioactive water found in another well at Fukushima plant
Records underestimate radiation exposure in Fukushima workers
"The test records of 479 workers at the crippled Fukushima No. 1 nuclear power plant contained false documentation on the amount of internal radiation they were exposed to, the Ministry of Health, Labor and Welfare said July 5."
Panasonic to close solar cell factory in Hungary: Nikkei
British woman trying to save Japan's nuclear power industry says: 'Radiation is scary'
Nintendo's membership web site hacked
NPA to form new anti-cybercrime unit
Japan's growth in renewable energy dims as nuclear strives for comeback
"The shining light that was once Japan's renewable energy industry is beginning to dim as reality sets in and it faces competition from a rejuvenated nuclear power industry."

## China ##
China Suspends PMI Details in New Hurdle for Analysis: Economy
"China suspended the release of industry-specific data from a monthly survey of manufacturing purchasing managers, with an official saying there's limited time to analyze the large volume of responses."
China's First Aircraft Carrier Advances With Jet Take-Off Drills
Chinese companies channel investments into growing Africa
Business activity at a 9-month low as nation's recovery falters
China's the world's biggest shipbuilder—and its shipbuilding companies are foundering
China signals will cut off credit to rebalance economy
The Peak Oil Crisis: China at a Turning Point
China's gold imports remain massive

## UK ##
Britain opens world's largest offshore wind farm
300,000 people on zero hours contracts in social care alone
Npower blames Government as power plant closes down
Ministry of Defence joins firms to tackle cyber threat
NHS "is about to run out of cash" top official warns
MPs prepare to lose gold-plated pension plans

## US ##
About those jobs: No Manufacturing Jobs But More Waiters And Bartenders Than Ever
Why The 'Real' Unemployment Rate Is Higher Than You Think
Jobs report underestimates underemployed
Sand Rush: Fracking Boom Spurs Rush on Wisconsin Silica
Nuclear renaissance in Florida crumbles, meets economic reality
A day without pay: Defense Dept workers face first of 11 furlough days as budget cuts kick in
A cruel, cruel summer for U.S. credit funds
"It's shaping up to be a brutal summer for bond investors as the bloodbath in the U.S. credit market shows no signs of letting up, even as nearly $80 billion has already been wiped from funds."
Jobless about to take big hit from sequester
Unless you're a lucky member of the elite (i.e., the New Aristocracy), it's all downhill from here. -- RF
American CEOs make 273 times more than the average worker
Chief Justice Roberts Is Awesome Power Behind FISA Court

And finally…
Ex-Russian spy Anna Chapman wants to marry Edward Snowden
5 craziest crimes of the week
After having sex with same horse again, man pleads guilty

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