Friday, August 09, 2013


News Links, August 8-10, 2013

## Global Ponzi meltdown/House of Cards ##
Weak Demand, Overcapacity Continue to Burden Container-Shipping Companies
ECB Announces Total Eurozone Debt Rose To 406.8% Of GDP In Q1 From 405.1% In Q4 2012
Billionaire Issues Chilling Warning About Interest Rate Derivatives
Zimbabwe: 'Huge' economic challenges after election
Italian firm aims to revive Dubai rotating tower plan
Is India in danger of another crisis?
Reflections on "Paper Reserves" of Central Banks; Gold and the Tapering Disconnect
Greek Youth Unemployment Soars To Record 65%
Budget crunch hits boom state
"Western Australia, the epicentre of the resources boom, is forecasting rising debts for the foreseeable future that threaten its AAA credit rating and has led the government to impose ­austerity budget measures."
Gold replaces narcotics as the most valued smuggled item in India
Canada Loses 39,400 Jobs in July as Government Hires Wane
French Industrial Output Unexpectedly Drops
When Will Spanish Banking System Collapse?
Russia's stimulus plan: Open the gulag gates

## Airline Death Spiral ##
Safety warning as budget airlines such as Ryanair cut fuel levels for flights
Huge fire closes Nairobi's international airport
Africa travel hit after fire ravages Nairobi airport
ONT Poised to Lose More Annual Passengers
"The ongoing downward spiral of passenger loss at LA/Ontario International Airport could reach a point where it can become impossible for the medium-hub facility to regain the traffic, aviation expert Bob Hazel told the Ontario International Airport Authority on Monday."
Hawaiian Airlines Finally Takes Off
Thanks to downsizing, which is a familiar story in these times. Cut, cut, cut! -- RF
Global airline computer outage triggers delays, cancellations
Dreamliner Returns, And Boeing Is Watching Its Every Move
JAL to maintain fuel surcharge levels
Jet Airways Q1 net loss at Rs355 crore
Asiana Airlines Second-Quarter Loss Misses Estimate After Crash
Global Airlines On Track For Stagnant Profit Growth in 2013, Insists IATA
"Strong first-half airline passenger traffic offers the industry cautious optimism, but the International Air Transport Association (IATA) insists there is little immediate hope for an improvement in profitability."
Air crash survival rates haven't improved since '70s
"More passengers are surviving fatal airline accidents during landing, but survival rates during stages of flight when most accidents happen have not improved from decades ago, a new USA TODAY study shows."

## Fault lines/flashpoints/powder kegs/military/war drums ##
Pakistani soldiers wounded in new Kashmir confrontation with India
The Pentagon Wants To Sell $2.7 Billion In Weapons To A Country On The Verge Of Collapse
Washington Threatens Pakistan with Sanctions if it continues with Iran Pipeline
US Spy Planes Buzzing, Drones Bombing Over Yemen
Saudi offers Russia deal to scale back Assad support - sources
"Saudi Arabia has offered Russia economic incentives including a major arms deal and a pledge not to challenge Russian gas sales if Moscow scales back support for Syrian President Bashar al-Assad, Middle East sources and Western diplomats said on Wednesday."
Putin Laughs At Saudi Offer To Betray Syria In Exchange For "Huge" Arms Deal
Iranian cargo plane shot down over Damascus airport
The Battle for Water
Egypt at 'dangerous stalemate' in political crisis
"Egypt's political crisis entered a tense phase on Wednesday after international mediation efforts collapsed and the army-installed government repeated its threat to take action against supporters of deposed President Mohamed Mursi."
Egypt May Not Need Fighter Jets, But U.S. Keeps Sending Them Anyway
Japan protests to China after ships linger for a day near isles
China helps out energy-starved Pakistan
Philippines Welcomes Second Warship From U.S.
Chinese maritime ambitions swelling
Pakistani police commanders killed in al Qaida-linked attack
The Rise Of The Bear: 18 Signs That Russia Is Rapidly Catching Up To The United States
Saudi donates $100m to UN counter-terror unit
Unease In Sprawling Rio Slum Ahead Of Police 'Pacification'
Egyptian officials: Israeli drone strike kills 5 Islamic militants in Sinai Peninsula
India mulls guarantee for insuring refiners of Iran oil
US Drones Pound Yemen: 34 Killed in 10 Days as Govt Declares Plot 'Foiled'
Falling birthrates hurting defense plans in Asia
U.S., Philippines to open troops talks

## Global unrest/mob rule/angry people/torches and pitchforks ##
Tunisia crisis: Tens of thousands join protest
Tribe Blockades 'Megaload' of Tar Sands Equipment
Greek villagers force tax inspectors to leave town
208 Arrested Protesting Climate Chaos and Big Oil at Chevron Refinery
Argentines Protest Government Before Primary Polls
Continuing unrest drives Egypt's tourists away
Egyptians mark Eid with protests against government
Thousands rally for Mursi in Cairo, clashes in rural Egypt
Warning youth unrest may trigger further city riots
'We Won't Pay' Movement Brings Guerrilla Electricity to Poverty Stricken Greece
"An anti-austerity protest outside the Finance Ministry in Athens in July. (Yorgos Karahali / Reuters)As Greeks continue to suffer under harsh austerity policies and a 'Troika' friendly government, a statement of both refusal and solidarity is getting louder within struggling Greek communities. One group who portrays this sentiment is calling itself 'We Won't Pay,' an organization made up of thousands of guerrilla electricians who illegally reconnect services to Greeks who can no longer afford their utility bills."
'Mass' fracking rally set for Great Britain
Thousands Demand GMO Corporations 'Quit India'

## Energy/resources ##
Iraq Kirkuk Oil Flow to Turkey Halted - Iraqi Official
Iraq crude oil exports stall amid pipeline attacks
Middle East crude production to be hit by maintenance and industrial action
Canada's 'North Sea' seeks investors to arrest production decline
"Newfoundland and Labrador may be Canada's fastest growing province this year, but its stellar rise masks a dramatic decline in the oil sector."
As ice caps melt, battle for Arctic resources heats up
Tanzania to Export Electricity While Most of Its Citizens Lack Power
Pepco to Exelon Seek Rate Hikes to Deter Power Grid Hacks
"Pepco Holdings Inc. (POM) and Exelon Corp. (EXC) are among the electric utilities seeking authority to raise customer rates or take other steps to recoup costs of meeting U.S. demands to protect the nation's power grid from hackers."
Here again we see how geopolitical feedback is another factor that raises the price of energy for end-users. And the global security situation will continue to worsen, with increasing wars, insurgencies, pirates, terrorism, and civil unrest. While various factors are at work, high energy prices and their consequences constitute a major driving force, thereby guaranteeing that this huge negative feedback loop will only grow more powerful with time. More examples below. -- RF
Civil unrest squeezes Libyan oil exports
"Libyan oil exports fell by 20 per cent in July to their lowest level since the country's civil war in 2011, according to shipping data from Lloyd's List Intelligence, which shows the extent to which civil unrest is crimping supply from Africa's third-largest oil industry by capacity."
Supply risks threaten runaway global oil output picture
"With oil production in North America on a seemingly unstoppable upward trend, it is not uncommon these days to hear how the world might be able to relax a little in the knowledge that its oil demand is more or less guaranteed to be met in the short to medium term. But there is no room for complacency, with the International Energy Agency warning on Friday that supply continues to be disrupted across the world, both within OPEC member countries and elsewhere."
Big fat money-loser: Shale Plays Not Working For Big Oil
Railway in Quebec crash goes bankrupt
Spain's Energy Morass Spreads
Is Wind Worth the Energy?
Is Cold Fusion Entering the Final Stages?
For any kind of credibility, proponents and inventors need to completely reveal the inner workings of their devices, including any "secret sauce" components. -- RF
Chesapeake Gives Up On New York Fracking
Reassembling the Evil Empire – Gazprom moves into Kyrgyzstan
India could face major water crisis
Germany's Grim Nuclear Phase Out
"Germany has apparently realized two important lessons—coal provides low-cost, reliable electricity and switching to renewables is wildly expensive."
WTI Oil Fluctuates as China Crude Imports Climb to Record High
Sanctions Enable Iranian Shipping Company to Expand Fleet Capacity by 23%
And as the article points out, this largely solves Iran's insurance problem. -- RF
US Becoming 'Refiner to the World' as Diesel Demand Grows
EU-backed project produces first algae crops for biofuel
"Experts say costs must be cut dramatically to make production commercially viable and the U.S. National Research Council has said the technology only had the potential to generate a tiny percentage of U.S. transport needs and would need to use enormous quantities of water to do so."
Generator Demand Goes Gangbusters
"The global generator market is poised for prodigious growth over the next decade as consumers in the developing world deploy embrace smaller-scale generators to avoid the steep costs of expanding the traditional electric grid."
Do Copper Miners Need More Power?
Don't for a Second Imagine We're Heading for an Era of Renewable Energy
European Offshore Wind: Germany Points To Possible Trouble On The Horizon
So, you thought that wind turbines and solar panels and whatnot were just going to pop up everywhere, and we were going to segue into a zero-carbon dream world of cost-free luxury? Ha ha ha! Think again, amigos. Making and installing all this stuff requires an immense amount of energy, which is getting increasingly costly. Net energy decline means that we are already expending more and more energy just to get energy, leaving less for society. And the consequences of that are already clear from our global economic train wreck. To make and install the hardware for renewables, we need to siphon off part of the expensive energy used to run our economies, which further aggravates the situation. As I must have mentioned before, this dilemma is discussed in The Energy Trap. -- RF
Mexico energy reform to target deep water: lawmaker
Nuclear renaissance: In North Asia, a growing crisis of confidence in nuclear power
Conoco unloads Canadian oil sands acreage
PetroChina to join Exxon at giant Iraqi oilfield
"China is already the top foreign player in Iraq's oilfields. A deal at West Qurna, which is around 50 km northwest of the southern oil hub of Basra, would boost its dominance and could make PetroChina the biggest single foreign investor in Iraqi oil."

## Infrastructure scavenging ##
GO Train signalling cables severed by thieves looking for copper wire: police

## Got food? ##
Where Have All the Oysters Gone?
Superbugs in the Meat Supply
Fixing Food and Farming with a True-Cost Economy
I would like to add that if we have a really "true-cost" economy, food is going to be a heckuva lot more expensive. -- RF
Japan food self-sufficiency rate flat at 39 pct

## Environment/health ##
EPA Wants To Allow Continued Wastewater Dumping In Wyoming
Bird flu researchers want to create deadly virus in lab
Bird flu strain in China 'passed between humans'
Heightened Concern After First Reported Case Of Human To Human H7N9 Bird Flu Transmission
Wave of the future: Goats go wild! Natural cleanup at D.C.'s Congressional Cemetery
Wildfire races into California mountain communities, burning structures
Sanjay Gupta: I was wrong about weed
Taiwan says nuclear power plant may have leaked toxic water

## Intelligence/propaganda/security/internet/cyberwar ##
Major Outage for BlueHost, HostGator, HostMonster
Unhappy With U.S. Foreign Policy? Pentagon Says You Might Be A 'High Threat'
Snowden Honored with 2013 Whistleblower Prize from Transparency International and Partners
The NSA Spies On Even More People Than We Previously Thought
NSA loophole allows warrantless search for US citizens' emails and phone calls
US Government War On Hackers Backfires: Now Top Hackers Won't Work With US Government
Please Ignore the Man in the White Coat Who Is Reading Your Mind
Email Company Reportedly Used By Edward Snowden Shuts Down Rather Than Hand Data Over To Feds
Encryption App Silent Circle Shuts Down E-Mail Service 'To Prevent Spying'
The NSA Intends To Fire 90% Of Their System Administrators To Eliminate Future Leaks
Et Tu, IRS? Tax Agency Also Using Secret Spy Data?
Counter-Terror Experts: Government's Mass Surveillance Program – And Justifications – Are So Dumb They're "Crazy Pants"
Thanks to the NSA, the Sky May Be Falling on U.S. Cloud Providers
16,000 computers suspected infected with virus to steal bank IDs (Japan)
Confidential documents from Japanese firms posted on Chinese website
Google Reveals the 10 Worst Password Ideas
U.S. orders most officials out of Lahore, Pakistan

## Systemic breakdown/collapse ##
11 Examples Of The Escalating Crime And Violence That Are Plaguing Communities Across America
Obama says military depends on strong economy
Language in books shows how we have grown more selfish
The End of the Suburbs
Strikes, unrest cut OPEC oil supplies: IEA
"America's shale oil boom is protecting the world from steep oil price spikes as several OPEC members struggle to maintain production due to unrest and infrastructure problems, the International Energy Agency (IEA) said on Friday."
STEM Crisis Correlates to Shortage of Skilled Energy Labor in the US

## Japan ##
Prelude to a Crash: Japan's Debt Exceeds 1 Quadrillion Yen as Abe Mulls Tax Rise
Japan pledges to make huge budget cuts to reduce mounting debt
"Japan pledged to cut $83 billion from its budget over two years as they try to bring down the country's debt which is the biggest among the developed countries."
Cut, baby, cut! -- RF
Japan govt: Fukushima plant leaking 300 tonnes/day of contaminated water into sea
No one has died in the Fukushima accident, scream the nuclear advocates and apologists, but just imagine the cancers and deaths and destruction to come. -- RF
U.N. agency says it's monitoring Fukushima and ready to help
Tepco needs public cash to dig deep wall
Well of course it's going to need public money! Even if there are no more accidents at all, at any nuclear power plant anywhere in the world, I guarantee you that the ultimate cleanup task will be abandoned because — especially after governments are flat broke and the electric utilities have gone belly-up — all the money in the world won't be enough deal with decommissioned plants and their waste. Have a nice day! -- RF
Cesium hotspots found in seabed east of Fukushima
Official: Tepco Plan Could Cause Fukushima Reactor Buildings to "Topple"
Japan govt to take bigger role in Fukushima clean-up
Lawmakers Invoking Abenomics to Push Cuts at Japan Oil Refiners
1 in 5 university grads without secure jobs
40.3% of private universities fail to achieve maximum capacity

## China ##
The Last Stampede: Capital Now Exiting China
China: More Tightening on Local Government Debt?
'It's Too Hot': Shanghai Wilts In Record-Setting Heat Wave
China Imports 104 Tonnes of Gold Through Hong Kong in June
China's Iron Ore Imports Surge to Record High
China study confirms 'cancer villages' along polluted river
China's Gleaming Ghost Cities Draw Neither Jobs Nor People
China Builds All It Buys for Changsha From Rail to Biggest Tower

## UK ##
A&E wards to be given £500m bailout in bid to avert crisis
"David Cameron admits bailout is necessary to stop 'excessive waits' following warnings that some units are near collapse"
Wet weather batters British wheat crop
£550 back-to-school bill for parents of the gadget generation

## US ##
Power, water shortage worries in sweltering heat wave
Big Banks Conspiracy is destroying America: All markets manipulated, capitalism getting killed
Why Marc 'Wolf' Faber still thinks a 1987-style crash is coming
Boomerang Babies: Record Numbers of Young Adults Live with Parents at Terrible Cost
Just one thing: People have got to get over the notion that it's wrong for grown children to still be at home with their parents, and that the economy must be "improved" so that children will move out, start their own households, and buy lots of consumer stuff (which will supposedly help "improve" the economy even more). Sorry to say, what this trend means is that the nuclear family model is dying. It used to be common to have three or four generations under one roof, and it will be common again. Get used to it. -- RF
Study: Fewer Young People Getting Driver's License
Anyone Can Track Your Driving Patterns in Seattle. Here's Proof
The Cops Can Take Away Your Cash, Car, Or House — Even If You're Never Convicted Of A Crime
US Consumer Spending Flat Since March - Gallup
Real Personal Income Points to Recession
Police stun gun kills Florida teen
A Colorado Town Is Holding a Special Vote on Whether to Shoot Down Drones
Why McDonald's franchisees are simmering
In shadow of Detroit, a Michigan county delays bond sale
The Great Vampire Squid Keeps On Sucking
U.S. 'Space Fence' Will Cease To Operate, Site Says
One In 25 Americans Was Arrested In 2011
MASSIVE jump in people who renounced US citizenship last quarter
How The $1.2 Trillion College Debt Crisis Is Crippling Students, Parents And The Economy
SWAT-Team Nation
Why Have Police In America Turned Into Such Ruthless Thugs?
Postal service reports $740 million third-quarter loss, asks Congress for help to rebound
Another Rough Week of News for Millennials and Their Money
American Dream Is Moving Out of the Suburbs and Could Leave Home Values Behind

And finally…
Guy Reports Girlfriend Kidnapped to Stop Her Moving Out

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