Wednesday, March 12, 2014


News Links, March 12-13, 2014

## Global Ponzi meltdown/House of Cards ##
Italian bank UniCredit reports record 14bn-euro loss
Markets hold breath as China's shadow banking grinds to a halt
Top German body calls for QE blitz to avert deflation trap in Europe
Head of German Institute for Economic Research demands €60bn of bond purchases each month to halt contraction of credit and avert Japanese-style trap
Round Two of the Global Financial Sector's Takeover of Spain
Zombie Firms in Finland Suck Up State Funds as Debt Load Swells
Baltic Dry Plunges 8%, Near Most In 6 Years As Iron Ore At Chinese Ports Hits All Time High
Soros Says Europe Faces 25-Year Slump Without Overhaul
Is "Dr. Copper" Foreshadowing A Stock Market Crash Just Like It Did In 2008?
'Dr. Copper' sinks to eight-month low amid concerns about China
We Are In FAR Worse Shape Than We Were Just Prior To The Last Great Financial Crisis
Container Shipping Prices to Remain Low Until 2016
How investors may be getting fooled by buybacks
Why unpaid internships are facing growing backlash (Canada)
Greece's economic contraction in 2013 has been revised to 3.85%
Carlyle Group racking up deals in Asia

## Airline Death Spiral ##
Airlines hurt as Ukraine crisis lifts oil price
Cambridge Airport left without international passenger service as Darwin Airline prepares to axe remaining flights
Spirit Airlines Brings Advertising to Everything from Barf Bags to Overhead Bins
Bad decade: Malaysia Airlines has catalog of woes

## Fault lines/flashpoints/powder kegs/military/war drums ##
Pentagon Pledges $429 Million More for Israel's 'Iron Dome' System
Japan Has Nuclear 'Bomb in the Basement,' and China Isn't Happy
Libya says North Korean oil ranker Morning Glory seized
North Korean Tanker Burning In Libya After Navy Opens Fire
Red Line Crossing: Ukraine Effectively Gifts Crimea To Russia, Says "Will Not Intervene Militarily"
R.I.P FREE SPEECH: Protesters can now be charged $750 or 2 years gaol for attending protests in Victoria
Large US contingent to take part in South Korean exercise
US Air Force to eliminate nearly 500 aircraft in 25 states, D.C. and overseas
American nuclear materials storage site guarded by robots
Philippines protests China stopping troop resupply
The Chinese coast guard prevented delivery of supplies to Filipino soldiers guarding a disputed shoal in the South China Sea and an envoy rejected a Philippine protest over the interference, officials said Tuesday.
Thailand to lift state of emergency as business suffers
Indian Maoists kill 16 in attack on police
Saudi Arabia to shut down Al Jazeera office
No, Washington Does Not Have a Nat Gas Weapon Against Moscow
Norway could provide little help if Russia cuts flows to Ukraine
Belarus to ask Russia for warplanes in response to NATO drills
After Annexing Crimea, Russian Troops Are Piling Up By The East Ukraine Border
Chairman Of Joint Chiefs: US Ready For "Military Response" In Ukraine

## Global unrest/mob rule/angry people/torches and pitchforks ##
Activists Rally Against Nuclear Power in Blackout-Prone Indonesia
Climate Change Could Push and Intensify Global Terrorism – Pentagon
Police in Turkey clash with protesters after boy's funeral

## Energy/resources ##
Darwin in the grip of massive power blackout (Australia)
A massive blackout has, in effect, shut down Darwin, leaving the entire city without power.
Cold snap nearly triggered rotating outages (US)
Nearly 100 electricity generators had problems producing power at some point during a Jan. 6 cold snap that pushed the state's biggest power grid into an emergency alert and close to rotating outages.
Depletion is winning: EROI of different fuels and the implications for society
The decline in EROI among major fossil fuels suggests that in the race between technological advances and depletion, depletion is winning. Past attempts to rectify falling oil production i.e. the rapid increase of drilling after the 1970 peak in oil production and subsequent oil crises in the US only exacerbated the problem by lowering the net energy delivered from US oil production (Hall and Cleveland, 1981). Increasing prices, thought by most economists to negate depletion through increasing incentives for exploitation, cannot work as EROI approaches 1:1, and even now has made oil too expensive to support the high economic growth it once did.
Facing weak home demand, Japanese refiners look to push up exports
Japan's top refiners are aiming to increase oil product exports a second year in a row to offset weakening domestic demand, an aggressive move that threatens to pressure Asian fuel prices and further undercut regional refining margins.
Chevron Trims Production Forecast On Project Delays, Rising Costs
This Move by China Jeopardizes Critical Supply
Arctic Extraction Has Huge Potential but High Risks
Polar Vortex Emboldens Industry to Push Old Coal Plants 
Sun setting on European solar
Saudi Arabia's Feb crude oil output inches up to 9.849 mln bpd - source
Power shortages affect cement production in Egypt
Prices, Tensions Soar as Fuel Scarcity Drags On in Nigeria
Heat your home with computer servers and other innovations from Europe's burgeoning clean tech sector
Propane shortage to continue: report (Canada)
South Korea to spend $1.8 billion to build world's fourth largest oil hub
Power utility firm to implement rotating power outages (Philippines)

## Got food? ##
Funding drought curbs Australia's "food bowl to Asia" ambitions
Australia's lofty ambitions to become a "food bowl" for a rapidly growing middle-class in Asia are in danger of falling at the  farm gate due to the country's harsh, drought-prone climate and a lack of investment in agricultural innovation.
As Dow seeks growth, new Enlist crop/chemicals seen as key
One key to Dow's rise in the agriculture seed and chemical kingdom is the company's new GMO seed and herbicide combination branded the "Enlist Weed Control System." U.S. regulators have indicated they are poised to grant needed approvals, and after more than two years of scrutiny, the U.S. Department of Agriculture's final public comment period closes on Tuesday.
Price of all-American egg and bacon breakfast harder to swallow
Less is More: We Need a Global Strategy to End Fishing Overcapacity
Parliament rejects draft EU law allowing nanomaterials in food

## Lifestyle Solutions ##
What Kind of Gardener Are You?

## Environment/health ##
Do massive dams ever make sense?
California to drive millions of salmon to ocean in trucks
Worsening economies linked to increase in cancer

## Intelligence/propaganda/security/internet/cyberwar ##
Senator: CIA improperly searched computer network
Twitter crashes second time in nine days, blames software glitch
Snowden: US helped create loopholes in NZ law
You May Be One of Millions Whose ID Was Stolen and Sold
Docs Reveal 'Disturbing' Scale of NSA's Global Hacking Abilities
NSA Aiming To Infect 'Millions' Of Computers Worldwide With Its Malware; Targets Telco/ISP Systems Administrators
Web Inventor's Bold Call: Time for 'Online Magna Carta'
Cyber-attackers using diverse new techniques to steal info (Japan)

## Systemic breakdown/collapse/unsustainability ##
Excellent: Reaching Debt Limits: With or without China's problems, we have a problem
Detroit Fades Into Darkness: Lighting System Problems Mean No Power For City Streets
Even if the city is able to turn on or replace a broken light, the "cooper wiring that connects the light to the electrical system" is often stolen by criminals within hours.
Detroit's infrastructure crumbling while city has trouble collecting cash
NYC Is Falling Apart, and That's OK
Venezuela: Chaos Draws Near

## Japan ##
Misery Index Rising to 33-Year High on Abenomics: Japan Credit
Japanese Consumer Pessimism Hits New High Under Abe
Japan's Giant Tsunami Wall Fails to Stop Atomic Power Fears
Three Years After Fukushima, What's Next for Nuclear Power?
Japan seeks to ease arms export rules to bolster defence
4,000 sue GE, Toshiba, Hitachi over Fukushima disaster
THREE YEARS AFTER: Majority of Japan's nuclear reactors face bleak future
Damage from heavy snow tops 122 billion yen: ministry report
Coastal Miyagi still eerily empty three years after 3.11 tsunami

## China ##
"Magic" Collateral: A Frank Look At The Sheer Credit Horror About To Be Unleashed In China
How China's official bank card is used to smuggle money
China to beat 2020 nuclear targets after projects restarted -CNNC

## UK ##
Droitwich pilots streetlight reduction scheme

## US ##
Nuclear Regulatory Commission Blatantly Covered Up Significance of Fukushima
Is the U.S. Becoming a Police State? (infographic)
Detroit Suburbs Devise Ways to Dodge Takeovers as Decay Widens
Wholesale Sales Unexpectedly Decline (Most in Nearly Five Years), Inventories Unexpectedly Rise
MORGAN STANLEY: The Economy's Slow Growth Is Now Permanent
EIA: Harsh winter affected US heating expenditures, oil production
Almost 40% of Households Can't Afford San Diego
A new study released March 6, reveals that 38% of San Diego County's working-age households can't afford a no-frills lifestyle without public or private assistance.
Work until you die: Lifelong labor becomes new normal
It's not the new normal, it's the old normal. The "retirement" phenomenon is but a moment in human history, when humanity was blessed with an unprecedented and one-time energy windfall. Everyone but members of the aristocracy will go back to living as the Little People have always lived: Hand-to-mouth while working until they drop. Have a nice day! -- RF
Low-wage jobs unexpectedly a way of life for many
Your Job Taught to Machines Puts Half U.S. Work at Risk
Stock Market Surge Bypasses Most Americans, Poll Shows
More than three-quarters of Americans say the five-year bull market in U.S. stocks has had little or no effect on their financial well-being, according to a Bloomberg National Poll.
Underground gas explosion in East Harlem kills 2, injures 36
Why 2014 Is Beginning to Look A Lot Like 2008
David Stockman's "Contra Corner" Website Up and Running; Yellenomics and Pentagon's Swamp of Waste
Why do police departments need military vehicles and weapons?
Radiation from stricken plant not reaching U.S. West Coast waters: NRC chief
California Gov. Jerry Brown Faces Protests Over Fracking as Epic Drought Looms
Oil falls amid SPR release
Rail Traffic Jam Could Take Months to Clear, Hurt Earnings

And finally...
Underwear Company Offers P*nis Insurance

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