Thursday, October 31, 2013


News Links, October 31-November 1, 2013

## Global Ponzi meltdown/House of Cards ##
Unemployment in eurozone at record 12.2 percent
Europe's Scariest Chart Goes From Bad To Worst On Record
Italy's Unemployment Soars to Record High on Recession
Baltic Dry Index Shows The Global Economy Headed For A Slowdown
Death Of The Brazilian Dream: Ex-Billionaire Eike Batista's OGX Files For Bankruptcy
Brazil Posts Widest Federal Primary Budget Gap in Almost 5 Years
Moody's Discussed Stripping New Zealand of Last AAA Rating
U.S. Steel to shutter Hamilton steelmaking operations at end of year (Canada)
Thomson Reuters to cut 3,000 jobs as part of speed up of cost cutting plan
US Out of Top 20 in Global Economic 'Prosperity' Index
Is Asia facing a housing debt crisis?
Central Banks Make Swaps Permanent as Crisis Backstop
Dubai Gold Demand Increases Eightfold; October Eagle And Kangaroo Sales Strong
Up to 2000 NZ Post jobs to be cut

## Airline Death Spiral ##
Cockpit smoke reported at least 650 times since 2000
How airlines are nickel and diming their way to record revenue
"These fees have become, for many airlines, the difference between a profit and a loss, and that is not lost on airline executives all over the world."
Japan's ANA says H1 profit dives 45.7%, slashes FY outlook
Japan Airlines net profit drops 17.8%
Are Airlines Actually Cutting Back on Fuel? Is That Safe?
Global airfreight market sees sluggish growth begin in 2013
Qantas confirms Jetstar Japan cash injection
No One Notices Deadly Plane Crash at Major Airport
Still struggling in Europe's poor economy, Air France-KLM sees profit slide 50 percent
Transition to satellite-based air traffic control system plagued by problems, delays

## Fault lines/flashpoints/powder kegs/military/war drums ##
Vladimir Putin Tops Obama as 'World's Most Powerful Person'
Oil and Politics: Who will Take over from the US in the Middle East?
Vietnam to Get Russian 'Black Hole' Sub Next Month
Growing European backlash over spying threatens billions of dollars in US trade
Singapore seeks guided rocket launchers
Russia plans to bring more S-300 air systems to EU border in Belarus
Officials: Israelis strike shipment of Russian missiles at Syrian port
Israel: 5,000 New Settlement Homes to Offset 26 Freed Prisoners
Perpetual War: How Does the Global War on Terror Ever End?
China accuses Japan of interfering in naval drills
Obama Struggles to Sell Congress on Iran Talks

## Global unrest/mob rule/angry people/torches and pitchforks ##
Egyptian students protest after Brotherhood leader arrested
Bangladesh to decide garment wage rise amid unrest fears
Student protest turns ugly in Melbourne's CBD
Protesters run riot in Cape Town
Rioting protesters return to Brazil streets
Protests over French 'ecotax' turn violent
China's Airlines Get Bomb Threats After Arrests in Beijing Crash
Office workers protest against nuclear power in Tokyo

## Energy/resources ##
Peak "Cheap" Oil: Shale Oil Proves Peak Oil Is Indeed Upon Us
The reason I say in the title that shale oil proves that Peak Oil is upon us is that we would not be drilling them if there were anything better left to drill. The simple yet profound reason that we're going after this more difficult and expensive oil is—drum roll, please—the easy and cheap stuff is all gone.
Shell CFO: Spending Cutbacks Will Damage Oil Industry
The Peak Oil Crisis: The Shale Oil Bubble
US will always remain crude oil importer
Ukraine to Sign $10 Billion Shale Deal with Chevron
US #1 in Oil: So Why Isn't Gasoline $0.80 per Gallon?
Because, as the article notes, the cost of production is so high. -- RF
Germany Looks to Straw for Home Heating
Total profit falls as European refining hurts
French oil company Total (TOTF.PA) reported a 19 percent drop in third-quarter adjusted net profits to 2.7 billion euros ($3.72 billion) on Thursday, hit by low refining margins in Europe and higher exploration costs.
Local government offers to bail out China's struggling Suntech
Struggling Chinese solar panel maker Suntech Power Holdings Co Ltd is set for a $150 million local government bailout, a step towards tackling its $2.3 billion debt pile that is at odds with Beijing's effort to wean the sector off state support.
U.S. Asks China to Team Up on Oil
Blame solar for sky-high Ontario power bills
14 low-tech ways to keep your house warm over the winter
Big Oil faces pressure from shareholders over costs
Oil industry shareholders concerned about poor returns and costly projects urged executives from Big Oil this week to return cash to shareholders - and at least one of the world's top five petroleum companies fully acquiesced.
U.S. Wind Power Slumps in 2013 After Tax Credit Drives 2012 Boom
World gas market to remain tight in next two years: Qatargas
Iran, Russia likely to sign crude oil swap deals
Boulder's Clean Energy Action argues U.S. already past 'peak coal'
I would not deny that there is a 200-year supply, but who's going to pay for it? -- RF
Barrick Gold Hat Trick: Mega-Stock Sale To Pay Debt
A bum deal? EU to roll out toilet flush law

## Got food? ##
Community Supported Canning Gets Locavores Through Winter
Soylent: An Offbeat Food Idea Investors Are Taking Seriously
Fisheries chief says some EU cod stocks facing collapse
Food stamp cuts set to kick in Friday as Congress debates billions in further reductions (US)
Food stamp cuts will hurt more than you think
Heat, Drought Draw Farmers Back To Sorghum, The 'Camel Of Crops'
I can say from experience that sorghum is easy to grow. -- RF

## Environment/health ##
Oil Spill's Effects Reach 20,000 Leagues Under The Sea
Gold rush sparked by global financial crisis devastates Amazon

## Intelligence/propaganda/security/internet/cyberwar ##
Report: NSA secretly broke into Yahoo, Google data center links around world
Google and Yahoo furious over reports that NSA secretly intercepts data links
Adobe data breach more extensive than previously disclosed
Adobe Systems Inc said on Tuesday that the scope of a cyber-security breach disclosed nearly a month ago was far bigger than initially reported, with attackers obtaining data on more than 38 million customer accounts.
London Olympics Website Attacked 212 Million Times
The Battle for Power on the Internet
Diebold Charged With Bribery, Falsifying Docs, 'Worldwide Pattern of Criminal Conduct'
US 'spied on future Pope Francis during Vatican conclave'
Cyber-crime is 'greatest threat' to companies survival: EY
What companies are doing with your intimate social data
Human Rights Attorneys Have Been Working with German Politicians on Asylum for Snowden
Facebook Tests Software to Track Your Cursor on Screen
Germany Advises Journalists To Stop Using Google Over US Spying Concerns, May Ask Snowden To Tesity Against NSA
Avoiding NSA clutches: India to launch internal email policy for govt comms
India is on the verge of implementing an internal email policy for official communications in order to avoid using American-based web services that have been compromised by the National Security Agency.

## Japan ##
Sony slashes full-year profit forecast by 40%
Dismal Abenomics Leads To 16th Consecutive Decline In Japanese Wages
When Did The US Treasury Say This: "Japan Has Turned The Corner"
Yeah, Japan has been "turning the corner" for 10 years now. I'm getting dizzy. -- RF
Japan Tobacco to close domestic factories, downsize workforce by 1,600
Japanese Firms Ever the Optimists in Production Forecasts
Japanese companies are once again predicting industrial production will keep picking up next month. But can you believe them? Looking at past predictions invites skepticism.
Banking and organised crime in Japan
Hokkaido Railway Co.'s safety woes run deeper than chronic financial problems
IMF Happy Talk Cannot Obscure Japan's Reality
31 percent of university grads quit first job out of school within 3 years
Employees allowed to work through 65 at two-thirds of Japanese firms
Fukushima Watch: Watchdog Approves Tepco's Plan to Retrieve Fuel Rods
Chubu Electric files for 4.95% rate hike
Japan Energy Profile: World's Largest Liquefied Natural Gas Importer – Analysis

## China ##
Top Chinese Banks Post Biggest Bad-Loan Surge Since 2010
Shale Gas Revolution Not Coming To China Anytime Soon
Entertainment firms feel the crunch of Beijing's frugality drive
China to step up own security after new NSA allegations
Police: 'Jihadists' Detained In Tiananmen Square Car Crash
Property bubbles bursting in China's third- and fourth-tier cities: official

## UK ##
Hinkley Point: nuclear power plant gamble worries economic analysts
The government's agreement to underwrite the £16bn Hinkley Point nuclear power station could prove to be "economically insane" and hugely costly to consumers, City analysts have warned.
Young face lifetime of unemployment, warns charity
Britain faces 'public health time bomb'
Wind farms knock eight per cent off average home value, property experts reveal
Britain's woodland 'set to shrink'

## US ##
Peak Coal Passed in 2008 as Mining Costs Rise, Group Says
Coal reserves in the U.S. are lower than government and industry estimates because the shallow deposits that are cheaper to access have been largely mined out, according to a study by a group urging the country to pursue renewable energy. Clean Energy Action in Boulder, Colorado, said in a report today that the U.S. passed its peak coal production in 2008, and that production will become increasingly difficult and expensive across the country.
US deficit falls to $680.3B in 2013, first time in 5 years imbalance falls below $1T
Illinois Teachers Pension Fund is 40% Funded, Drops Deeper Into Hole Despite Investment Return of 12.8%
Fed Does Not Taper, Keeps QE At $85 Billion
Average Job Creation "Cost" In 2013: $553,000
Land Prices Hit the Brakes
Is Nobody Watching Oil Pipeline Safety in the United States?
NY State Launches Strategic Gasoline Reserve
Vampires, zombies spook state housing markets
'Catastrophic': Congressional Apathy to Push Millions of Nation's Poor into Deeper Hunger
Bankrupt Alabama county gets $300 million more in concessions
Elliott's Singer Sees More Detroit-Style Municipal Insolvencies
Rand Paul Tries to Pass His Dad's 'Audit the Fed' Bill By Calling Out Harry Reid
Cops Buy Own Uniforms, Bullets, In Cash-Strapped Detroit
Is Puerto Rico the next Detroit?
Dr. Lacy Hunt: Fed Operating on a Flawed Model; "Wealth Effect" Only Widening Wealth Divide

And finally…
Shanghai police tackle burglars with grease

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