Friday, August 23, 2013


News Links, August 22-23, 2013

## Global Ponzi meltdown/House of Cards ##
Panic Flip-Flop Moves by India Central Bank Fail to Halt Currency Plunge
Spain's 'Real' GDP Could Be 21% Lower Than Reported
Mexico sharply cuts '13 growth forecast
Bundesbank warning on "Abenomics"
Fed confusion leads to 6th straight loss for Dow
Peak Gold
Target blames Canada and cautious shoppers as it warns on year
India Risks Permanent Damage… Are BRIC Nations the New PIIGS?
India's status as an economic powerhouse in jeopardy as country falters
Are emerging markets facing an 'abyss'?
Istanbul Skyline Reflects Cheap Dollars Now Growing Scarce
Recent Study: Overcapacity in the European Light Vehicle Market
Scandinavia's Richest Economy Stumbles as Euro Area Rebounds
Norway, western Europe's biggest oil and gas producer and home to a $760 billion wealth fund, is struggling to spur demand just as the rest of Europe surfaces from half a decade of economic pain. According to DNB ASA (DNB), the country's biggest bank, Norway will be the only European nation of the 15 it tracks whose economic growth won't accelerate next year. The biggest drag comes from consumers, who have hesitated to spend as house price gains peter out and private debt mounts.
Revealed: $130bn Dubai mega projects launched in the last year
Crisis of market confidence after Nasdaq shutdown
The world's second-largest stock exchange stopped dead for three hours Thursday, paralyzing trading in stocks with a combined value of more than $5.9 trillion, as an unexplained technical problem sparked a new crisis of confidence in U.S. financial markets.
Why Asian Markets Are Collapsing In 3 Simple Charts
The Grand Experiment: Offloading Risk onto the State
Offloading risk onto the state does not make the risk vanish; it simply concentrates the risk of collapse into the state itself.
Six reasons why mass tourism is unsustainable
Hussman: I Would Be Remiss Not to Tell You That the Stock Market Will Probably Crash

## Airline Death Spiral ##
Air India's 787 Dreamliners still without clearance to fly to Japan
Asiana Airlines to cancel Fukushima flights due to radiation fears
LATAM Airlines Group SA : Chile Latam Airlines Posts $329.8 Million Second-Quarter Loss
Hard months ahead for European airlines
Airline lawsuit seeks to stop rising fares, but it's too late
Officials in three states fight suit against American Airlines-US Airways merger
Air New Zealand to axe 180 jobs
Indian airlines on way down, says India Ratings
Adria Airways reports EUR1.4 million operating loss in first 7 months of 2013, EUR5.9m improvement

## Fault lines/flashpoints/powder kegs/military/war drums ##
American, Israeli And Jordanian Troops And CIA Agents Have Entered Syria, Le Figaro Reports
Egyptian Islamists blamed for attack on 60 churches
Military Dictatorship Takes Shape on Nile
Egypt's ousted leader Hosni Mubarak released from jail, taken to military hospital in Cairo
EU suspends arms sales to Egypt over crackdown
Activists say more than 200 killed in gas attack near Damascus
Number of Syrian child refugees reaches one million according to UN
Mediterranean Gas Outlook Threatened by War
This article starts by informing us that "The population in the eastern Mediterranean region is expected to increase by as much as 35 percent in the next 20 years." Since economies in that region — not to mention everywhere else in the world — are already unsustainable, all the gas in the world isn't going to change anything. -- RF
Flouting International Rejection of Weapons, US to Supply Saudi Arabia With Cluster Bombs
US 'backed plan to launch chemical weapon attack on Syria, blame it on Assad govt': Report
Israel: Rockets Fired from Lebanon Breach Iron Dome Defence System
Israeli jets bomb Lebanon target after rocket strike
Asia-Pacific navies to hold joint drill in S. China Sea
The navies of the 10-member ASEAN and eight other countries, including the United States, Japan, China, Russia, India, will participate in a joint exercise in Indonesian waters of the South China Sea next year, the Indonesian Navy announced Thursday.
How the U.S. is encircling China with military bases
US terror blacklisting angers Pakistan madrassa staff

## Global unrest/mob rule/angry people/torches and pitchforks ##
Protest near restaurants to check food price rise (India)

## Energy/resources ##
Humanity Officially Outgrows the Planet
Humanity uses more resources than the world can renew, meaning that our current way of life is not sustainable, and that at this rate the world will one day just run out of resources.
What's that? Did I hear someone mention "sustainable growth"? -- RF
Uranium miners face new hurdles as Fukushima disaster worsens
Energy Quote of the Day: The Link Between Geopolitical Unrest and US E&P Capital Spending
Solar Manufacturers May Boost Capacity as Demand Surges
Our Clean Energy Future
A sanguine piece posted on The Oil Drum. I only wish it would go so well, but I think proponents are looking at the world through rose-colored glasses. At this scale, the system is unsustainable no matter where our electricity comes from. -- RF
'Worrying' decline in oil and gas production (UK)
Clashes Erupt at Libyan Oil Terminals
Clashes erupted Tuesday at oil terminals that had been closed in Eastern Libya, oil officials said, the latest evidence of mounting tensions in the oil exporting nation, after an unauthorized tanker was blocked from entering another port Monday.
Why Your Solar-Powered Home Is Still Light Years Away
A Review of Richard Heinberg's 'Snake Oil'
New Enhanced Oil Recovery Technique Boosts Production to 85%
No mention of cost. Remember: It's not how much oil, but cost that counts. -- RF
Wind Turbine Makers Poised for Return to Profitability
Wind-turbine makers are poised to make their first profit in years after shutting underused factories and abandoning a drive for growth at all costs.
Another S. Korea nuclear reactor shuts down
China, Indonesia to Join Exxon at Giant Iraqi Oilfield
China and Indonesia are set to join Exxon Mobil's $50 billion project to develop Iraq's West Qurna-1 oilfield, company and industry sources said on Thursday.
Vacant Positions in Marcellus/Utica Shale Regions Hard to Fill
Engineering positions continue to be a challenge to fill in the Marcellus and Utica shale regions, reported the Marcellus Shale Coalition, (MSC) a gas drilling industry trade group. The organization released its annual workforce survey Wednesday, which found that one of the most difficult positions to fill in 2012 were in professional fields, around 49 percent.

## Infrastructure scavenging ##
Metal Thieves Target Historical Markers, Signs
Light poles a favorite among scrap metal thieves
Arrests on charges related to theft of scrap metal are rising fast in Dayton, so fast that the Dayton Police Department has an entire division devoted to curbing it.

## Got food? ##
Twilight of industrial agriculture: Young Farmers Break The Bank Before They Get To The Field
Indian Food Inflation Is Getting Out Of Control
Vegetable prices in India spiked  46.59% in July year over year, another ugly bullet point in the country's persistent struggle with massive food inflation.
Japan got 30 times more Russian crab than Russia 'exported'
Japan, which obtains most of its crab imports from Russia, received significantly more crab from its northern neighbor than Russia officially exported, indicating rampant poaching activity, a Russian newspaper said Tuesday.
Reviving An Heirloom Corn That Packs More Flavor And Nutrition
Food Prices to Rise 40 Percent, Study Says

## Lifestyle Solutions ##
How To Ditch 6 Common Financial Burdens
Six common subscriptions you can live without

## Environment/health ##
Lyme disease infects 300,000 a year, CDC says
Arctic shipping holds great promise for Asia
International Alarms Go Up as Fukushima Alert Level Raised
Deadly Middle East Coronavirus Found In An Egyptian Tomb Bat
Waste without Borders: Fracking's Dirty Dilemma
Many will argue that we need better regulation, but more regulation adds still more expense and complexity to the system, and demands a greater energy throughput. That in turn is acting to drag the system down and immobilize it. -- RF
Looking Down From Space at Shanghai's Awful Heat Island
Decrease in monarch butterfly population raises concern
An 'aporkalypse' has Texas fighting losing battle against feral pig menace

## Intelligence/propaganda/security/internet/cyberwar ##
LEAKED: German Government Warns Key Entities Not To Use Windows 8 – Links The NSA
NSA surveillance covers 75 percent of U.S. Internet traffic: WSJ
NSA collected thousands of online communications by Americans
The FISA Court Knew the NSA Lied Repeatedly About Its Spying, Approved Its Searches Anyway
Russia criticizes UK on human rights after pressure on Guardian
Russia accused Britain on Wednesday of failing to live up to its own declarations on human rights by forcing the Guardian newspaper to destroy materials leaked by fugitive former U.S. spy agency contractor Edward Snowden.
UK Prime Minister Was Behind Guardian's Hard Disk "Pulverization"
Mixed Court Victory for Miranda as He Fights 'Frightening' Interrogations, Seizures
Is Glenn Greenwald's journalism now viewed as a 'terrorist' occupation?
The detention at Heathrow on Sunday of the Brazilian David Miranda is the sort of treatment western politicians love to deplore in Putin's Russia or Ahmadinejad's Iran.
How A Look At Your Gmail Reveals The Power Of Metadata
Darpa Wants to Save Us From Our Own Dangerous Data
"Praise God" for FEMA Video Uploaded by FEMA
Gangster State US/UK (Paul Craig Roberts)

## Systemic breakdown/collapse ##
The Fracking of "The Limits to Growth"
Abandoned Dogs Roam Detroit in Packs as Humans Dwindle
Lacking Funds for Repairs, Texas to Convert Roads into Gravel Paths

## Japan ##
Japan nuclear agency upgrades Fukushima alert level
Radioactive Leaks in Japan Prompt Call for Overseas Help
Leaking tank at Fukushima plant has no water gauge
New high-radiation spots found at quake-hit Fukushima plant
"Tepco Has Lost Control" - What Is Really Happening At Fukushima In Four Charts
As Fukushima Crisis Spirals, Expert Warns 'It's Much Worse' Than Claimed
As bad as the situation seems, Mycle Schneider, lead author for the World Nuclear Industry status reports, told BBC News that the situation "is much worse than we have been led to believe, much worse."
All fisheries off Fukushima to be suspended amid leak at nuclear plant
6 who were minors at time of nuclear disaster newly found to have thyroid cancer
Six young people in Fukushima Prefecture, who were aged 18 or under when the nuclear crisis began to unfold there in March 2011, have been diagnosed with thyroid cancer since June, prefectural authorities said Aug. 20.
Abenomics Utter Fail: Japan's Crazy Exploding Trade Deficit
The new salvation religion being preached in Japan to a hardened and cynical bunch who've lived through one of the worst bubbles and busts in recent history is this: prodigious money-printing by the Bank of Japan would devalue the yen, among other things, causing exports to skyrocket and imports to shrink. The resulting trade surplus would save Japan. But the opposite is happening – and it's happening fast!
Tokyo uses rainmaking machine for 1st time in 12 years
Defense Ministry preparing Japanese version of U.S. Marines
To strengthen protection of Japan's outlying islands, the Defense Ministry will set up a preparatory force next fiscal year that will eventually become a Japanese version of the U.S. Marines, sources said.
Corporate tax cut in Japan: Be careful what you wish for
Japan scrambles jets after Russian bomber intrudes airspace
Defense Ministry to bolster spending on Global Hawk surveillance aircraft
Intellectual theft emails on the rise
Regional board of education to ban 40-year-old Hiroshima comic from schools for being too graphic

## China ##
'Low' consumption growth rate reflects China's slowdown
Politics, Cost of Living Push Hong Kong Residents Overseas
China grid says half of $100 bln high-voltage network under way
Overcapacity a Serious Problem in Coal Industry
Second-tier cities see oversupply of office space
China's College Grads Face A New Reality: Fewer Jobs
China mulls pension reform to ease financial burden
CHINESE experts have proposed a new pension scheme, raising the pension age, to ease the financial burden of an aging population. The new scheme suggests that the initial pension age for both men and women should be raised to 65 as of 2030 from the current retirement age of 60 for men and 50 for women.
Zombie borrowers haunt China's shadow banks
Call it the new China Syndrome: Although Asia's biggest economy is slowing down markedly, credit continues to surge. Dead-end projects and dying industries are sucking up an ever-larger portion of new credit, while more productive  borrowers are starved for funds.

## UK ##
UK's secret Mid-East internet surveillance base is revealed in Edward Snowden leaks
TUC: Pension changes will make millions worse off
Record numbers of Britons have no plans to retire
Government fails to record financial surplus in July
Planned homes remaining unbuilt, say local councils
400 British citizens emigrate every day
More than 400 British citizens are leaving the country every day in a drain on    talent that is leading to the "disappearance" of skilled middle-class professionals, a senior Conservative MP has warned.
Secret wind farm report into house price blight
Unbalanced and unsustainable – if something cannot go on forever, then it will stop
Cuadrilla Resumes Drilling at Balcombe
Record Investment in the UK Oil & Gas Industry in 2013
Despite the fact that production in the North Sea is declining rapidly and the current government claims to be the greenest ever; the UK oil and gas industry is set to receive record high investments in 2013.

## US ##
SWAT Cop Says American Neighborhoods Are 'Battlefields,' Claims Cops Face Same Dangers As Soldiers In Afghanistan
'People think everyone who is poor gets welfare, and it's just not true'; How the myth of the welfare queen died
Students get financial aid at highest rate since WWII
More college students are receiving more financial aid, including loans and grants, and most of the increase is coming from federal sources, new data show.
Up In Flames: Cigarette Taxes Create Opportunity For Revenue And Crime
Colorado county to vote on secession
School Security Changes Have Parents Dropping Kids At The Curb
Health insurance now costs $16,000 for average family
Defending the Grid Against Electromagnetic Pulses and Geomagnetic Disturbances
California fracking causes fracas
'Travesty of Justice': Bradley Manning Sentenced to 35 Years
Wells Fargo gives 60-day layoff notices to nearly 300 in Charlotte
33 Shocking Facts Which Show How Badly The Economy Has Tanked Since Obama Became President
However, to be fair I wouldn't blame Obama for all of this; the decline of the US economy was baked in the cake years ago and is proceeding according to natural laws. -- RF
J.C. Penney Is Circling The Drain
Sears and J.C. Penney: Which Will Disappear First?
Detroit's Stray Dog Epidemic: 50,000 Or More Roam The City
UPS to End Insurance Coverage for 15,000 Working Spouses
USDA: Rural population needed not for farming but for cannon fodder
Fracking leaves property values tapped out
Bradley Manning Sentenced to 35 Years in Prison
The Real Reason to Sell Municipal Bonds
It's a recovery!: US households taking in less income than when recession ended in June 2009, report says
Income Stats Suggest American Dream Is Dead
Colorado Town May Issue Licenses To Shoot Down Drones
Why you're feeling poor despite the recovery
American households have yet to regain income lost during the financial crisis. The median level is still $3,400 lower.
Daniel Ellsberg: US on Verge of Becoming Police State Under Obama
13 Things the Government Is Trying to Hide from You
U.S. government's debt load is worse than Japan
U.S. a 'Few Weeks' From Breaching Debt Limit, Lew Says
This muni-bond selloff looks like Lehman all over again: Janney
Big Banks Will Get Crushed From Rising Interest Rates
North Dakota looks to protect sensitive lands
North Dakota oil and gas regulators have nominated 40 sensitive sites in the western part of the state to be protected from increased exploration activity.
The cost of fighting wildfires soars – and you're paying
Climate change, dry weather, and past forest management practices have created conditions where forests spark quickly and burn long. But much of the increased cost comes from protecting large communities on vulnerable land that used to be free of people. There are now more than 47 million homes in areas at high risk for wildfires, according to a study conducted by the U.S. Forest Service and several universities, with nearly 10 million sprouting in so-called "wildland-urban interface" areas between 2000 and 2010 alone.
Just one of many factors creating further drag on an already unsustainable system. -- RF

And finally…
Man banned from farms after admitting sex with goat
Madrid buskers must audition before being allowed to play

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