Wednesday, July 03, 2013


News Links, June 30-July 2, 2013

## Global Ponzi meltdown/House of Cards ##
Cyprus debt in default over bond swap
ThyssenKrupp mulls selling part of European steel business, paper
Siemens to cut 1,700 jobs in energy operations: report
France to seek 14 billion euros in cuts next year: paper
France's triumphant 'Joan of Arc' vows to bring back franc and destroy euro
Italy Unemployment Rises to New Record 12.2% In May
Eurozone unemployment in May at a record 12.1 percent
Axel Springer eyes cost cuts of over 20 million euros: CEO
Croatia joins the EU amidst economic recession and unemployment
Global Bonds Dive for Second Month as Stocks Lose $2.7 Trillion
Nowhere to Hide in Worst Bond Losses Since 2008: Credit Markets
Central Banks Sell Record Sums of US Debt
Ireland Preparing Plan to Tap Euro Rescue Fund
Asian factory blues deepen in June, exports drop
China Manufacturing Conditions Deteriorate, New Export Orders Fall at Fastest Rate Since March 2009
Pawnbrokers Thrive as Poorest Aussies Bear Brunt of Slowdown
Russia and China building their gold reserves

## Airline Death Spiral ##
The airline business is a lousy one, airline industry study shows
"An IATA study about airline profitability provides the bleak numbers to confirm what we already knew: Although some individual airlines are the exception to the rule, if you have money to invest, choose another industry."
Flying Experience Suffers As Airlines Squeeze Profits
Jet fuel price hiked by steep 5.8% (India)
Airlines facing a squeeze on margins, analyst says
Airline recruits women to save fuel
Flight statistics continue to paint a bleak picture at Farmington airport
Just one of many regional airports suffering from decreased traffic. -- RF
Lufthansa revamps budget airline Germanwings to take on rivals
$16.6 Million in Baggage Fees Helps Trim Hawaiian Airlines' Losses

## Fault lines/flashpoints/powder kegs/military/war drums ##
Philippines: Chinese Military In South China Sea Threatens Peace
China media warns Philippines of 'counterstrike' in South China Sea
China agrees South China Sea talks amid new row with Manila
Scandal and skulduggery at the Vatican
"According to officials at the Bank of Italy, the Institute for Works of Religion – the Vatican's own offshore bank – has for years been allowing organised criminals, even terrorists, to launder money with impunity."
Bomb attacks kill 53 in Pakistan
Suicide bomber targets Iraq Shia mosque killing 22
Egypt's military gives president, opponents 48 hours to reach agreement or it will intervene
Syria: 3,500 tons of weapons already sent to rebels, says Lord Ashdown
"Lord Ashdown, the former Liberal Democrat leader, spoke out against arming Syria's rebels and called for pressure to be put on Qatar and Saudi Arabia to cut off funding for arms."
Israel seeks $5B in U.S. loans to buy arms
"Israel is reported to be seeking U.S. loan guarantees of $5 billion to finance the purchase of the advanced weapons systems the U.S. administration has offered the Jewish state under a $10 billion packages for its Middle East allies."

## Global unrest/mob rule/angry people/torches and pitchforks ##
China's troubled Xinjiang hit by more violence: state media
Anti-Obama protests dispersed by South Africa police
Egypt Morsi: Mass political protests grip cities
Hong Kong set for 1 July democracy march
Police battle protesters in Philippines slum riot

## Energy/resources ##
E-Cat: Uppsala University Professors Accuse Peers of Wishful Thinking
"In the last three years, Rossi has demonstrated an extraordinary ability to convince onlookers to believe him despite the lack of evidence for his extraordinary claims."
In two Asian countries, the road to higher retail oil and natural gas prices
U.S. Runs Out Of Nuclear Fuel From Russian Warheads
"About 10 percent of electricity in the United States is fueled by enriched uranium originally produced in Russia for nuclear warheads, according to the National Nuclear Security Administration, which announced last week this fuel source will be used up this year."
Quick rental power helps fuel GDP growth: study (Bangladesh)
Ignoring the Civil War, Tribes Battle it Out over Syrian Oil Fields
Sri Lanka Returns 40,000 Tonnes of Low Quality Diesel, and Blacklists ENOC
Last curtain falls on Nabucco pipeline
Kashagan Oil Field Production Facilities Start Up
Fuel Shortage Hits Solwezi (Zambia)
Signs of looming fuel shortage (Ghana)
China Backs Off Shale Gas Targets
Don't Get Carried Away By The Shale Oil Boom

## Infrastructure scavenging ##
Rwanda: Electric Cables Stolen in Ngoma

## Lifestyle Solutions ##
Kids Unplugged: Summer Camps Ban Electronics
Declare Your Independence from Credit-Card Debt

## Environment/health ##
Evolving in the Deep: The Ultra Drill Ship
"The bulk of new discoveries we've been hearing about over the past couple of years—at least the big ones—are offshore, many of them in ultra-deep waters. Shallow discoveries are fewer and farther between because most of the sweet spots have already been found."
Los Angeles Boosts Incentive to Replace Grass, Save Water
'Crazy ants' invade Southern states, altering ecosystem
Study: Electric cars no greener than gasoline vehicles
6 Natural Allergy Remedies

## Intelligence/propaganda/security/internet/cyberwar ##
The Guardian news website blocked at Presidio of Monterey
Multiple Government Agencies Are Keeping Records Of Your Credit Card Transactions
Users Bitcoins Seized by DEA
French and German fury over claims US bugged EU offices
Saudi Arabia court jails seven Facebook cyber activists
How The NSA Collects Your Internet Data In Four Charts
Spying Out of Control: NSA Bugs EU Offices, Gathers Routine Info On US Citizens; Is NSA Surveillance Legal? Constitutional?
Snowden applies for Russian asylum, Putin says stop harming U.S.
Edward Snowden Issues Statement From Moscow, Slams Obama
US Foreign Propaganda Offered for Domestic Use
Valerie Plame & Joe Wilson: This Has Nothing To Do With Snowden, The Intelligence-Industrial Complex Is Out Of Control
If You Like The Surveillance State, You'll Love E-Verify (Ron Paul)
German Prosecutors May File Charges Over US, British Surveillance

## Systemic breakdown/collapse ##
Nurses' burnout linked to millions of U.S. hospital infections
Government urged to act as food poverty hits 18% of UK

## Japan ##
Some students too hard up to even show for job interviews
Abenomics Update: Domestic Japanese Car Sales Plunge 15.8%
40 liters of soap dumped into sink results in Tokyo sidewalk covered in bubbles
Though a story of only passing interest to most people, it is actually a preview of what will happen when sewage system failures become common, and the street won't be covered in soap bubbles. Remember, already 1,500 km of Tokyo sewage pipes already need to be replaced. -- RF
Food Makers Set Stage for Inflation
Real GDP Grew 0.2% In May
Power-saving campaign begins for three months

## China ##
Chang: China Headed for Crash in 6 Months (video)
Chinese Malls Waive Rents as Vacancies Loom: Real Estate
"Chinese landlords are forgoing rent and paying to outfit stores for mass-market fashion brands including Zara and H&M, a bid to blunt the impact of a boom in shopping-mall construction that threatens to push up vacancies."
In China and around the world, dead malls will be one of the consumer society's greatest legacies. -- RF
China steps up operations in Xinjiang
China Foreign Debt Approaches $1 Trillion
China's Domestic Debt In The Spotlight; Nearly $2 Trillion And Counting
Why China's Economy May Be Heading for a Crash
Chinese Manufacturing Gauges Fall as Slowdown Persists: Economy

## UK ##
The dark side of credit - a million new payday loans every month
"An increasing number of people are taking out loans which they have little chance of paying back, due to the exorbitant interest rates and high fees"
Bovine TB in milk as well as beef
If the lights ever go out so will this Government
Britain 'under attack' in cyberspace
Hackers stealing trade secrets on industrial scale, warns spy chief
"Business secrets in the UK are being stolen on an "industrial scale" in the growing cyber war, the head of the GCHQ has warned."

## US ##
States squeeze new revenue from existing taxes, while arguing they are not increases at all
FHA Swamped By Defaults; Congressional Report Shows FHA Could Suffer Losses as High as $115 Billion; Shut Down Fannie, Freddie, FHA
Business Activity in U.S. Cools More Than Forecast
Heat strains the power grid in California
Northern California urged to conserve power as heat wave peaks
Electronic Updatable License Plates Could Flash "STOLEN" Or "TEEN DRIVER"
Alabama county files exit plan to end $4.2 billion bankruptcy
Without full-time jobs, workers flock to temp towns
Senate Passes Immigration Bill; Billions Slated for Drones, Choppers, Surveillance
An unstoppable climb in CEO pay
The new aristocracy continues to mob up more of the wealth. And you get what Patty shot at. -- RF
Has the U.S. Reached Peak Car?
New Doomsday poll: 98% risk of 2014 stock crash

And finally...
Woman accidentally glues lips together
Fake illegal border crossing is real Mexican theme park attraction

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