Tuesday, August 20, 2013


News Links, August 18-21, 2013

## Global Ponzi meltdown/House of Cards ##
India Markets Plunge Pressures Singh as Economy Teeters
India's biggest stock market slide in almost two years, surging bond yields and an unprecedented plunge in the rupee are pressuring officials for fresh steps to stem capital outflows and revive a struggling economy.
The Asia Economic Engine is Breaking Down
Asian Stocks Decline for Fifth Day Ahead of Fed Minutes
Asian Stocks Sliding Led By 250 Point Plunge In Japan's Nikkei 225
As investors mull QE finale, Asia's miracle shows signs of wear
Thailand Cuts Growth Outlook as Economy Enters Recession
Gloomy India tries to staunch the economic bleeding
India Eases Cash-Supply Curbs as Surging Yields Imperil Growth
Indian rupee hits record low before central bank lends support
Meanwhile, Europe Is Collapsing
Socialist Delusion: France Promises Full Employment, a Third Industrial Revolution, an Affordable Housing Utopia in 10 Years
18 Signs That Global Financial Markets Are Entering A Horrifying Death Spiral
Amid a Global Economic Slowdown, Earnings Collapse
Greece will need new bailout, says Germany's Schaeuble
Spanish Bad Loans Re-Spike To 50-Year High
Ports invest billions to handle megaships, but is it worth it?
Egyptian Stocks Sink, CDS Show Egypt in Top-10 Riskiest Countries; EU Ponders Suspending Aid; McCain, Rand Paul Issue Statement; Civil War?
Industrial overcapacity hits China
Unemployment figures 'appalling', says Cosatu (South Africa)
Russian Recession Risk Worsened as Banks Skimp on Loans
My Ticket Into Space Looks Cheap, Price Soars to $250,000
Cost of production: High electricity rates spread panic (Pakistan)
The All Pakistan Textile Mills Association (Aptma) Punjab has protested against an increase in electricity tariff for the textile industry, dubbing it unprecedented and leading to a complete collapse sooner than later.
Amplats to cut 7,000 South African jobs, union 'shocked'
Anglo American Platinum (Amplats) said it planned almost 7,000 job cuts at its South African operations including thousands of compulsory lay-offs, drawing an angry response from a labor union and raising the risk of renewed unrest at its mines.
Dubai Sees Need for Tallest Office Tower Amid 45% Vacancy
In Dubai, where almost half of the offices sit empty, the head of a state-owned business zone says there's room to build the world's tallest office tower.
Gold Is Flooding Out Of London To Switzerland At An Alarming Rate
Export stats confirm massive outflow of Western gold to Asia, maybe ETF gold
Precious Metals Hold Steady, JPMorgan Says Buy Gold
World's Largest Silver Producing Company Reports Big Decline in Production
No Dead CAT Recovery On This Sales Chart (Where Caterpillar Asia Sales Post Biggest Drop Since November 2009)
Overbuilt condo market puts Canadian economy at risk: BoC
Europe set to lose 1.9 million jobs, as business moves offshore: report

## Airline Death Spiral ##
Low-cost airlines capture over 20% of South Korean market for first time; domestic nearly 50%
Pennsylvania Joins Lawsuit Against Merger of US Airways and American Airlines
Super-cheap airline may be ready for takeoff
Airline regulation: The barn door is already open
Aviation researchers splatter bugs in quest for greater fuel efficiency
Airlines must stop foolish discount air fare schemes to survive Q2
A report by aviation consultancy CAPA points out that Indian airlines are projected to lose as much as $400-450 million in the current quarter which ends in September and these could be the worst three months for Indian airlines in a long time.
Kung Fu for Air Hostesses Against Air Rage?
Airport looks for ways to recoup recent losses
Airlines' shaky financial ground fueled spate of consolidation
Malaysia Airlines in the red again with net loss of almost $68m
Brazil Airlines Seek Tax Reductions To Ease Rising Costs

## Fault lines/flashpoints/powder kegs/military/war drums ##
Bomb hits Iraq's main commodity port, traffic unaffected
Iraq Open to U.S. Drone Strikes on Terrorists
Thousands of Syrian refugees pour into Kurdish region of Iraq; aid workers struggle to keep up
Syrian Kurds' flight drags Iraq deeper into neighbor's war
Egypt threatens to ban Muslim Brotherhood as troops clear Islamists from Cairo mosque
Egyptian security forces used tear gas and live ammunition to storm a mosque in Cairo where up to 1,000 Islamist protesters had barricaded themselves in, as the military's ruthless crackdown intensified.
Egypt, U.S. on Collision Course
Egypt's military-led government said it was "reviewing" its strategic relationships with the U.S. and other Western governments critical of its crackdown on Islamists, deepening the divide between the Obama administration and Cairo.
White House Denies Cutting Off Egypt Junta's Aid
Militants execute 25 Egyptian police in Sinai ambush
A Suddenly Sweating Saudi Says Would Step In As Financial Backer To Egypt If West Pulls Out
Israel carefully watches Egypt turmoil, quietly maintaining ties with Egyptian military
American-born Al Qaeda militant calls for attacks on US diplomats
Canadian Forces test 'Loki,' a stealth snowmobile for covert Arctic ops
China, Japan, and India's Asian Arms Race
Japanese air force participates in combat training exercise with US, South Korea
Nigerian navy says kills 12 pirates in gun battle
Pirates holding estimated 97 seafarers for ransom
Global Firms Eye African Market
Projections that African defense spending will surpass US $20 billion over the next decade have sparked cut-throat competition between non-African companies looking to snap up supply, joint venture and technology transfer agreements with African firms. Meanwhile, other companies are giving themselves a more competitive edge by setting up shop in the continent.
CIA Exposed for Orchestrating '53 Iranian Coup
After 60 years of secrecy, the CIA finally admitted to masterminding the 1953 coup against democratically elected Iranian Prime Minister Mohammad Mossedegh that ushered the widely despised U.S.-controlled Mohammad Reza Pahlavi back to power and had a hand in decimating left and progressive forces in Iran.
As I have pointed out before, the US has never gotten over "losing" Iran, and that loss has rankled since the Iranian revolution. The current sanctions have little to do with nuclear weapons and a lot to do with trying to topple Iran's government so that a US-friendly puppet regime can be installed. -- RF
USAF touts flying technique for fuel savings
European Union sets Gibraltar mission as tensions simmer
China Won't Barter Away Territorial Interest, Chang Says
China is prepared to defend its interests and won't trade away its territorial claims in the Asia-Pacific region, General Chang Wanquan, the country's Defense Minister, said during a visit to the Pentagon.
So much migration puts Europe's dykes in danger of bursting
Britain rejects Spanish request for Gibraltar talks
Erdogan angers U.S., Israel, Egypt with Mursi defense
Turkish Prime Minister Tayyip Erdogan angered Ankara's U.S. ally, as well as regional leaders in Egypt and Israel, by accusing Israel on Tuesday of helping overthrow Cairo's Islamist president.
US may cut aid to Egypt after army arrests Islamist leader

## Global unrest/mob rule/angry people/torches and pitchforks ##
Smashing State Surveillance: Group Breaks CCTV Cameras on the Street
Balcombe fracking protest widens: Second campsite opens as activists prepare to step up their campaign against shale gas exploration in Sussex
British police detain protesters at anti-fracking demo
Egyptian capital becomes battle zone pitting residents against each other
Unrest Boiling Over In Egypt
Fast-food workers uniting to strike on Aug. 29

## Energy/resources ##
North Sea Output May Slide 22% This Year Because of Maintenance
Fire hobbles Motiva oil refinery, biggest in U.S.
Rush for Nile Water - Now Uganda Plans Massive Hydroelectric Site
'Ecological Debt Day' Reached: World in Resource Overdraft
We have now overshot the Earth's resources for the year, meaning all consumption from here borrows from future generations
High Oil Prices May Trigger Roll-Up In Solar Power Industry
Ecuador Seeks Crude in Amazon Rainforest as Economy Slows
Saudi Arabia's large-scale renewable energy plan
Tightening Supply to Support Asia Crude
Distributed Generation Grabs Power From Centralized Utilities
Spain's solar u-turn could expose €20 billion PV bubble
Latest incident at French nuclear plant renews calls for its closure
Peak Oil Update - Final Thoughts (TOD)
Important here is that, as the author points out, actual production is not far from the average peak oil scenario if the contributions of low-EROI junk oil (Canadian tar sands and tight oil) are excluded. And recall that EROI is also dropping for conventional oil as well, as we continue to go after harder-to-get deposits. Therefore I'm sticking with my contention that overall net energy is declining, which creates an ever-heavier drag on the global economy. If you look past the bubbles appearing (and popping) here and there, it's plain that global economic collapse is still proceeding. -- RF
Shale bust: Shale grab in U.S. stalls as falling values repel buyers
The spending slowdown by international companies including BHP Billiton Ltd. and Royal Dutch Shell Plc comes amid a series of write-downs of oil and gas shale assets, caused by plunging prices and disappointing wells. The companies are turning instead to developing current projects, unable to justify buying more property while fields bought during the 2009-2012 flurry remain below their purchase price, according to analysts.
Texas is fracked: More than 30 towns will soon be out of water
Argentina: energy boom or energy cliff?
Out Of Ideas And In Debt, Spain Sets Sights On Taxing The Sun
Ethanol Discount to Gasoline Narrows After No Rain for Corn
How will Japan prepare for age of decommissioning reactors?
As I've said repeatedly, there will never be enough money, and "decommissioning" for most NPPs not just in Japan but around the world will involve merely closing the gates, locking the doors, and hoping for the best. For a few decades of electricity we'll have thousands of years of contamination, sickness, death, and of course plenty of mayhem as evil people try to get the waste to make nuclear devices and dirty bombs. Oh, and did I mention this is going to be an unmitigated disaster? -- RF
British nuclear plant needs 90 years for decommissioning after 26 years in operation
You see? This plant had no major accidents, yet decommissioning will take over three times as long as the plant operated. Watch as the £600 million cost balloons due to massive cost overruns. And of course the job will never be finished because Britain's economy is already collapsing. -- RF
Nuclear renaissance is DOA: Nuclear reactor building in the United States stagnates as costs clog the machine
Amid Uptick in Violence, Iraq Oil & Gas Update
Mexican Energy Sector Reform: The Devil is in the Details
Canada's Race to Build Pipelines Won't Spell Relief at the Pumps

## Infrastructure scavenging ##
Copper theft a growing problem
Copper theft severs state websites

## Got food? ##
Food: Walking the Breadline
Begin Building a 3 Month Supply of Food and Water
Merck Halts Animal-Drug Sale After Cattle Walking Problem
Merck & Co. (MRK) will suspend sales of its livestock-feed supplement Zilmax in the U.S. and Canada after cattle taking it had trouble walking or standing.
Soybeans Extend Climb as Dry Weather Threatens U.S. Crop Outlook
China bans more New Zealand dairy products on new contamination scare
Just How Bad Is It? An Aerial View of Crops in Iowa and Minnesota
Poultry production cost hike (UK)
Incredibly Shrinking Avocados: Why This Year's Fruit Are So Tiny
A Collection of Food Preservation Techniques

## Environment/health ##
Fish Habitat Near Collapse on China's Upper Yangtze, Study Says
The fish habitat in the upper reaches of the Yangtze River is near collapse from overfishing and the construction of hydropower dams, and China should ban fishing on the river for 10 years, according to a new study.
Up to 100,000 face evacuation in Russia's flood-hit far east
Mid-Atlantic Dolphin Die-Off Leaves Scientists Puzzled
Baa! O'Hare turns to goats to clear airfield brush
Lyme, tick-borne illnesses get even more terrifying
Life in Antarctica Relies on Shrinking Supply of Krill
Ecuador to drill for oil in Amazon rainforest after rich countries failed to pay up
Superstorm task force says as coasts rebuild, they should prep for rising seas, future floods
Lyme Disease Far More Common Than Previously Known
Are Europe's Carbon Sinks in Jeopardy?
More Than Half of India's Rivers Too Polluted to Drink
Rising Seas could Cause $1 Trillion Damage a Year to Coastal Cities by 2050

## Intelligence/propaganda/security/internet/cyberwar ##
Internet Traffic Plunges By 40% As Google Goes Dark For Five Minutes
Amazon.com website goes offline
Special Operations seeks way to override broadcasters
The U.S. Special Operations Command wants to find technology that would allow it to locate AM and FM radio signals in a specific area and then override those signals to send propaganda messages.
NSA Revelations of Privacy Breaches 'the Tip of the Iceberg'
You Won't BELIEVE What's Going On with Government Spying on Americans
UK detains, interrogates partner of journalist linked to Snowden
British authorities used anti-terrorism powers to detain the partner of a journalist with close links to Edward Snowden, the fugitive former U.S. spy agency contractor, as he passed through London's Heathrow airport on Sunday.
Partner of Snowden reporter Greenwald begins legal action over UK detention
NSA files: why the Guardian in London destroyed hard drives of leaked files
2013 worst cyber attack year in Japan
NSA Spying Fears Force Another Site to Shut Down
Groklaw founder writes that "There is now no shield from forced exposure"
NSA releases rule violations to journalists that are almost entirely blacked out
The hype cycle: How the oil and gas industry manipulates investors and the public
As its Currency Collapses, India Doubles Down on Big Brother Surveillance
Is It Possible To Escape From Everyday Surveillance?
Stuxnet Leaks Came Straight From White House, Documents Show
Hacking Mark Zuckerberg: Is Anyone Safe Online?

## Systemic breakdown/collapse ##
Could Joburg collapse like Detroit? (South Africa)
Climate change may have caused demise of Late Bronze Age civilizations
Eastern Shore professors to get bulletproof whiteboards
The high-tech tablet — which hangs on a hook, measures 18 by 20 inches and comes in pink, blue and green — can be used as a personal shield for professors under attack, according to the company that makes it, and a portable writing pad in quieter times.

## Japan ##
Abe plans first postwar national security strategy
Change in Japanese apples blamed on global warming
Layoffs Illegal, Japanese Workers Head to Boredom Room
Japan nationalists return after nearing islands disputed with China
Gasoline prices continue to rise
Fukushima operator says workers dusted with radioactive particles
The operator of Japan's crippled Fukushima nuclear plant said on Monday two workers were found to be contaminated with radioactive particles, the second such incident in a week involving staff outside the site's main operations centre.
Tritium Measurement In Fukushima Bay Highest Ever As TEPCO Admits 40 Trillion Becquerels Have Spilled Into Pacific
Highly toxic puddles found near water tanks at Fukushima plant
'A Huge Amount of Radiation' as Fukushima Crisis Worsens
Radioactive water leak from Fukushima considered 'level 1' incident
"No one has died from the Fukushima accident," crow the nuclear apologists, trying to convince us — and themselves — that everything is under control. In reality, the full extent of this disaster is only now becoming apparent. As cancers develop over the coming years, as the power utilities go belly-up, as the Japanese government goes broke, and as industrial civilization crumbles, the legacy of Fukushima will haunt the Earth for thousands of years. -- RF
Export Growth Seen Stalling As Asian Shipments Fall
Kansai Electric Shuts Half Of Key Coal Power Plant
Kansai Electric Power Co. (9503) suspended one of two units at a core coal-fired power station in Kyoto Prefecture on Monday after an electric dust collector became clogged with ashes, sparking concerns of a possible power shortage amid a heat wave.
Surge in electricity demand expected as holidays end
7,135 hospitalized for heatstroke Aug 12-18; 21 die
Japan issues travel alert for Egypt, Japanese firms evacuate

## China ##
China Warns It Can't Find Jobs For College Graduates
Credit crisis begins to cripple Chinese cities
As the Chinese economy boomed, few cities soared faster or higher than Shenmu, a community of nearly 500,000 in northwestern China… But a painful credit crisis is now spreading across Shenmu and cities nearby, as thousands of businesses have closed, fleets of BMWs and Audis have been repossessed and street protests have erupted.
China Releases "Willfully Fraudulent" Inflation and GDP Data
It's easy to make a case that GDP data everywhere is fraudulent because of the definition which includes government deficit spending, regardless of how ridiculous or useless the spending is. However, China takes the distortions to a level well beyond other countries.
The urbanization fallacy
Will China Confiscate its Citizen's Gold?
China's Rising Home Prices Unstoppable
Recovery is slow in rural China's 'cancer villages'
Shipbuilding industry suffering from overcapacity as orders shrink
China to cut cement overcapacity with new plan

## UK ##
Food bank inquiries soar as further working class families slide into poverty
Families are struggling as the cost of bringing up a child has risen to £148,000
High speed rail scheme cost to double to £80bn, economists warn
General practice 'in crisis' as doctors' workloads mount
Villagers and Activists Unite in UK Fight Against Fracking
Outdoor workers face toilet troubles due to Government spending cuts, says union report
The People Take on Fracking Corporation in UK-Wide Actions
UK Reduces Energy Consumption by 25% by Raising Prices by 28%

## US ##
Administration Keeps Chipping Away At The Fourth Amendment; Asks Supreme Court To Allow Warrantless Cell Phone Searches
Ten Reasons the U.S. Is No Longer the Land of the Free
Philly's Schools Are So Broke They're Borrowing Cash to Start the School Year
Teachers pay more out of pocket for their kids
Next thing you know, teachers will be holding classes in their homes. -- RF
What Is Going To Happen If Interest Rates Continue To Rise Rapidly?
Northern Utah cities asked to cut water use by 50 percent
Study: Drought will cut flow from Lake Powell
A federal Bureau of Reclamation study released Friday says the Colorado River's worst drought in a century will force reduced water releases from Lake Powell in Arizona that could affect agriculture, downstream business and hydroelectric power production.
US Car Makers Crank Out Cars Around the Clock; Who is Buying the Cars?
Cars In America: Is The Love Story Over?
What Corporations Spend Their Cash On
California discourages needy from signing up for food stamps
Why car companies can't win young adults
The Destruction Of America's Middle Class (In Under Seven Minutes)
5 Companies That Make Money By Keeping Americans Terrified of Terror Attacks
Ripping Off Young America: The College-Loan Scandal
Hyperwhoops: California's "Other" Bullet Train Project On Verge Of Crashing And Burning
Cargo thieves becoming 'strategists,' say experts
A range of new cargo theft tactics are being deployed to help thieves take better "control" and thus mitigate the risks of the crimes they are trying to commit, according to experts with insurance provider Travelers.
A U.S. Housing Crash Is Already Starting to Unfold
7 reasons for a September crash
Pension deficit disorder: Unsustainable retirement system looms
Unemployment rates rise in 28 states in July, unchanged in 14, as job gains slow
U.S. May Lose Vital Weather Forecasting Capabilities By 2014
Saks reports weak second-quarter sales, deeper loss
Nearly fifty years after JFK gunned down, many asking why CIA still hasn't released all assassination files
Al Jazeera America to Launch Today
Why the Hyperloop will Remain a Pipedream
Detroit traffic cops learning stop and frisk tactics
Detroit, a city plagued by an increase of murders and shootings, is considering implementing the controversial police practice known as stop and frisk.
Charting Insolvency: Social Security and Wages

And finally…
Beezow Doo-Doo Zopittybop-Bop-Bop arrested for drugs
Husband clings to top of a car for 2.5 km to catch wife's underwear thief

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