News Links, February 23, 2012
## Global Ponzi meltdown/House of Cards ##
Greece Is Still Doomed: Why the New Bailout Is a Fantasy
"Greece has finally secured a new $170 billion loan from its European landlords, and the terms are just as unrealistic and doomed-to-fail as you expected. The fact that the country requires a second bailout that's practically the size of its economy -- now crashing through $270 billion and still falling -- tells you what you need to know about the hopelessness of Greece."
Greece: From Sovereign Nation to the Penultimate Structured Investment Vehicle
"By transforming Greek sovereign debt into a structured investment vehicle retroactively, policymakers have now made their ability to manage the situation in the future all but impossible."
Greece Is Still Doomed: Why the New Bailout Is a Fantasy
"Greece has finally secured a new $170 billion loan from its European landlords, and the terms are just as unrealistic and doomed-to-fail as you expected. The fact that the country requires a second bailout that's practically the size of its economy -- now crashing through $270 billion and still falling -- tells you what you need to know about the hopelessness of Greece."
Greece: From Sovereign Nation to the Penultimate Structured Investment Vehicle
"By transforming Greek sovereign debt into a structured investment vehicle retroactively, policymakers have now made their ability to manage the situation in the future all but impossible."
Fearless Prediction: On March 20, Greece WILL Default (Financial Sense)
Here Is the Plain Truth About Greece (Financial Sense)
The plain truth is this:
The plain truth is this:
• Greece cannot pay its current debts back. Ever.
• More money is NOT the answer.
• Greece cannot even begin to recover while still chained to the Euro and unable to devalue.
• Greek citizens will NOT suddenly decide to pay their taxes.
• Greece's exit from the EU will be incredibly painful and the country will likely go into a depression.
TSA Carriers Plan To Raise Container Rates On Mar. 15
"As container shipping lines face estimated 2011 losses in the billions of dollars across their global networks, including the transpacific trade, member carriers in the Transpacific Stabilization Agreement (TSA) have reaffirmed their commitment to restore rate levels going into 2012 to 2013 contract talks."
"As container shipping lines face estimated 2011 losses in the billions of dollars across their global networks, including the transpacific trade, member carriers in the Transpacific Stabilization Agreement (TSA) have reaffirmed their commitment to restore rate levels going into 2012 to 2013 contract talks."
Homeless flood into hospitals (Australia)
## Fault lines/flashpoints/powder kegs/military/war drums ##
IAEA Says Iran Talks Fail on Denied Request to Visit Base
IAEA Says Iran Talks Fail on Denied Request to Visit Base
Iran 'Winning' on Oil Sanctions: Top Trader
"An increase in world oil prices has more than compensated Iran for revenues lost to lower crude exports because of sanctions imposed by the West, the head of the world's leading oil trader said Tuesday."
"An increase in world oil prices has more than compensated Iran for revenues lost to lower crude exports because of sanctions imposed by the West, the head of the world's leading oil trader said Tuesday."
Japan, U.S., South Korea build closer defense ties
"Japan, the United States and South Korea have been forging closer defense cooperation to counter China's growing military might and threats from North Korea."
"Japan, the United States and South Korea have been forging closer defense cooperation to counter China's growing military might and threats from North Korea."
Russia Tells Norway To Keep Aegis BMD System off Vessels
"Russia has warned Norway not to get pulled into a possible area of conflict by bowing to U.S. pressure to equip its naval vessels with Aegis ballistic missile defense system missiles. The warning came from Nikolai Makarov, commander of the General Staff of the Russian Armed Forces."
"Russia has warned Norway not to get pulled into a possible area of conflict by bowing to U.S. pressure to equip its naval vessels with Aegis ballistic missile defense system missiles. The warning came from Nikolai Makarov, commander of the General Staff of the Russian Armed Forces."
## Global unrest/mob rule/angry people/torches and pitchforks ##
Shots fired as anti-US protests spread in Afghanistan
"US Embassy in Kabul puts staff on lockdown as fury over Quran burning grows"
"US Embassy in Kabul puts staff on lockdown as fury over Quran burning grows"
Countrywide protests against power outages (Pakistan)
"Citizens across the country on Tuesday took to the streets against prolonged power outages and gas shortage that have badly disrupted routine activities."
Occupy is back? Movement gets a TV show, issues concrete demands, begins new protests
"If you thought Occupy was over, you may want to think again."
"If you thought Occupy was over, you may want to think again."
'Occupy' to hold national conference in Philly
"A group of protesters affiliated with the Occupy Wall Street movement plans to elect 876 'delegates' from around the country and hold a national 'general assembly' in Philadelphia over theFourth of July as part of ongoing protests over corporate excess and economic inequality."
Greek unions mount fresh protests
"A group of protesters affiliated with the Occupy Wall Street movement plans to elect 876 'delegates' from around the country and hold a national 'general assembly' in Philadelphia over theFourth of July as part of ongoing protests over corporate excess and economic inequality."
Greek unions mount fresh protests
As austerity bites hard, a once pliant Spain revolts
"Spaniards initially accepted aggressive austerity as necessary, but tens of thousands are now turning out in the streets to protest measures they say have gone too far."
"Spaniards initially accepted aggressive austerity as necessary, but tens of thousands are now turning out in the streets to protest measures they say have gone too far."
## Energy/resources ##
"A severe shortage of gas cylinders, essential for heating and cooking in a country with no mains supply, has increased the hardship for Nepalis already enduring seasonal daily power cuts of up to 14 hours.
"Exacerbating the problem, a shortage of petrol and diesel means people have to queue for many hours or turn to the black market to run cars and the generators which light their shops when the electricity goes out."
North Slope Blowout on Land Clearly Shows We Are Not Ready to Deal with an Accident in the Arctic
North Slope Blowout on Land Clearly Shows We Are Not Ready to Deal with an Accident in the Arctic
South Africa Worried About Power Costs as Increases Studied
"South Africa's government said it's concerned power costs are hurting household and industrial users as the regulator studies raising prices further amid stoppages by smelters to curb demand on an overburdened electricity grid."
"South Africa's government said it's concerned power costs are hurting household and industrial users as the regulator studies raising prices further amid stoppages by smelters to curb demand on an overburdened electricity grid."
Get ready for power shock summer (India)
Fuel scarcity spreads nationwide (Nigeria)
Depleting fuel supply set to impact gas-based power plants, consumers (India)
"The gas-based power plants of GVK Power, Lanco Infratech, GMR and others, all based in Andhra Pradesh, are functioning at less than 50 per cent of installed capacity due to reduced supply of gas."
"The gas-based power plants of GVK Power, Lanco Infratech, GMR and others, all based in Andhra Pradesh, are functioning at less than 50 per cent of installed capacity due to reduced supply of gas."
How you can tell that the peak oil debate is (almost) over
Following Keystone Rejection Canada's Oil Sands Headed to China
Following Keystone Rejection Canada's Oil Sands Headed to China
Shell details theft losses of Nigerian Delta crude
Stop the Nonsense About the "Falling Dollar" Being the Cause of Rising Gasoline Prices (Mish)
Stop the Nonsense About the "Falling Dollar" Being the Cause of Rising Gasoline Prices (Mish)
The Peak Oil Crisis: Technology Update (Tom Whipple)
Short version: Don't hold your breath. -- RF
S. African Miners' Group Says Power-Blackout Risk 'Very Real'
"The risk of electricity blackouts in South Africa is "very real," the head of the Electricity Intensive Users Group said."
"The risk of electricity blackouts in South Africa is "very real," the head of the Electricity Intensive Users Group said."
## Got food? ##
Analysis: Worrying signs for food security in Syria
## Environment/health ##
Energy poverty killing more people than malaria
"A lack of clean energy for cooking is causing severe respiratory diseases that kill around two million people each year, says a scientist from the University of British Columbia."
New York Judge Upholds Fracking Ban in Towns
"In a blow to the oil and gas industry, a judge has ruled small towns in New York have the authority to ban drilling — including the controversial method known as fracking — within their borders."
## Intelligence/security/internet/systemic breakdown ##
Anonymous Denies It Is Pursuing Power Outage Attacks
U.S. judge orders Moroccan held for Capitol plot
"A U.S. judge on Wednesday ordered a Moroccan man to be held on charges that he planned a suicide bombing attack against Congress, believing he was working with al Qaeda militants when in fact his contacts were undercover agents."
"A U.S. judge on Wednesday ordered a Moroccan man to be held on charges that he planned a suicide bombing attack against Congress, believing he was working with al Qaeda militants when in fact his contacts were undercover agents."
## Japan ##
Coast Guard to get power to make arrests on uninhabited islands
"Japan Coast Guard officers will shortly be empowered to arrest trespassers on remote uninhabited islands, such as the disputed Senkaku Islands in Okinawa Prefecture."
Is Japan's Global Creditor Status at Risk?
"Trade deficits may undercut Japan's ability to service a massive debt load far bigger than Greece's"
"Japan Coast Guard officers will shortly be empowered to arrest trespassers on remote uninhabited islands, such as the disputed Senkaku Islands in Okinawa Prefecture."
Is Japan's Global Creditor Status at Risk?
"Trade deficits may undercut Japan's ability to service a massive debt load far bigger than Greece's"
TEPCO to cement 73,000 sq meters of seabed off Fukushima
"The operator of Japan's tsunami-crippled nuclear plant is to cover a large swathe of seabed near the battered reactors with cement in a bid to halt the spread of radiation, the company said Wednesday."
"The operator of Japan's tsunami-crippled nuclear plant is to cover a large swathe of seabed near the battered reactors with cement in a bid to halt the spread of radiation, the company said Wednesday."
Okinawa snow event canceled over radiation fears
"The city of Naha in subtropical Okinawa was forced to cancel a traditional snow event for kids after parents said the snow shipped from the northeast may be radioactive, officials said Wednesday."
"The city of Naha in subtropical Okinawa was forced to cancel a traditional snow event for kids after parents said the snow shipped from the northeast may be radioactive, officials said Wednesday."
"A drought in bond issuance by Japanese nuclear plant operators after lender confidence in the industry was shattered by the Fukushima crisis looks set to end, with Tohoku Electric Power Co Inc considering a $313 million offering."
## China ##
Hainan to more than double power consumption by 2015
"Insufficient power generation capacity forced the province to implement several rounds of rationing over the course of 2011, an official with the Hainan National Development and Reform Commission (NDRC) told Interfax today."
## UK ##
Petrol-price pain on way as Iran racks up tensions
Europe must provide own security as US shifts focus to Pacific, says Labour
"European nations must do more to provide their own security as the US shifts its attention towards China and the Pacific, Labour has warned."
Lights set to go out
"NEARLY 5,000 of the 6,000 streetlights Carmarthenshire Council plans to switch off at night have now had the necessary technology installed in them."
"NEARLY 5,000 of the 6,000 streetlights Carmarthenshire Council plans to switch off at night have now had the necessary technology installed in them."
## US ##
Democrats Urge Obama to Tap Reserve Oil
"President Barack Obama should release crude from the Strategic Petroleum Reserve to stem rising gasoline prices, three U.S. House Democrats said, a move the energy industry opposes."
"President Barack Obama should release crude from the Strategic Petroleum Reserve to stem rising gasoline prices, three U.S. House Democrats said, a move the energy industry opposes."
That's still less than what the Japanese and Europeans pay. Worse is yet to come. -- RF
Ron Paul: Hemp is a good product
"'There is no reason, in a free society, that farmers shouldn't be allowed to raise hemp,' Paul said, according to the Associated Press. 'Hemp is a good product.'"
"'There is no reason, in a free society, that farmers shouldn't be allowed to raise hemp,' Paul said, according to the Associated Press. 'Hemp is a good product.'"
LADWP lights go out for 60,000 Westside customers
"A power outage darkened a large portion of Los Angeles' Westside on Tuesday.
"A spokesperson for the Los Angeles Department of Water and Power told KPCC that 60,000 customers saw their electricity service interrupted in Venice, Westchester, Playa del Rey and surrounding areas."
"A power outage darkened a large portion of Los Angeles' Westside on Tuesday.
"A spokesperson for the Los Angeles Department of Water and Power told KPCC that 60,000 customers saw their electricity service interrupted in Venice, Westchester, Playa del Rey and surrounding areas."
"The Federal Reserve has operated almost entirely behind closed doors as it rewrites the rule book governing the U.S. financial system, a stark contrast with its push for transparency in its interest-rate policies and emergency-lending programs."
Middle Class Getting Pushed Out of Banking: Whitney
"Excessive regulation of financial institutions is squeezing out middle-class consumers who soon will find themselves locked out of the banking system, analyst Meredith Whitney said Wednesday."
"Excessive regulation of financial institutions is squeezing out middle-class consumers who soon will find themselves locked out of the banking system, analyst Meredith Whitney said Wednesday."
Whoops! Signs that all is not well in Muni-Land? Meredith, baby, stick to your guns! -- RF
And finally... Osama Bin Laden movie to be filmed in India
Talking Shit
Mr Baboon is sitting on a rock scratching for fleas.
Along comes Mr Gazelle.
Morning Mr Baboon.
Top of the Morning Mr Gazelle.
What are you doing Mr Baboon?
Oh, I'm sitting in the sun on top of this rock scratching for fleas and, do you see that lioness under that tree Mr Gazelle?
Yes, I see the lioness under that tree Mr Baboon.
Well Mr Gazelle, when I'm finished with these here fleas, I'm going over to Ms Lioness and I'm going to fuck her.
I do so admire you Mr Baboon.
And Mr Gazelle leaves.
Along comes Mr Warthog.
Morning Mr Baboon.
Top of the Morning Mr Warthog.
What are you doing Mr Baboon?
Oh, I'm sitting in the sun on top of this rock scratching for fleas and, do you see that lioness under that tree Mr Warthog?
Yes, I see the lioness under that tree Mr Baboon.
Well Mr Warthog, when I'm finished with these here fleas, I'm going over to Ms Lioness and I'm going to fuck her.
You are so brave Mr Baboon!
And Mr Warthog leaves.
Along comes Mr Giraffe.
Morning Mr Baboon.
Top of the Morning Mr Giraffe.
What are you doing Mr Baboon?
Oh, I'm sitting in the sun on top of this rock scratching for fleas and, do you see that lioness under that tree Mr Giraffe?
Yes, I see the lioness under that tree Mr Baboon.
Well Mr Giraffe, when I'm finished with these here fleas, I'm going over to Ms Lioness and I'm going to fuck her.
My, my, Mr Baboon!
And Mr Giraffe leaves.
Along comes Mr Lion.
Morning Mr Baboon.
Top of the Morning Mr Lion.
What are you doing Mr Baboon?
Oh, I'm sitting in the sun on top of this rock scratching for fleas and talking shit Mr Lion.
News Links, February 22, 2012
## Global Ponzi meltdown/House of Cards ##
Greek debt pact is far from a done deal
Greek debt pact is far from a done deal
"In their jubilant celebration over the latest agreement to solve Greece's debt debacle, European officials forgot to check with two important groups: the Greek voters and the bondholders who lent Athens the money it now says it can't pay back."
Icelandic Anger Brings Debt Forgiveness in Best Recovery Story
"Icelanders who pelted parliament with rocks in 2009 demanding their leaders and bankers answer for the country's economic and financial collapse are reaping the benefits of their anger.
"Since the end of 2008, the island's banks have forgiven loans equivalent to 13 percent of gross domestic product, easing the debt burdens of more than a quarter of the population, according to a report published this month by the Icelandic Financial Services Association."
"Icelanders who pelted parliament with rocks in 2009 demanding their leaders and bankers answer for the country's economic and financial collapse are reaping the benefits of their anger.
"Since the end of 2008, the island's banks have forgiven loans equivalent to 13 percent of gross domestic product, easing the debt burdens of more than a quarter of the population, according to a report published this month by the Icelandic Financial Services Association."
## Fault lines/flashpoints/powder kegs/military/war drums ##
Arab League says China, Russia may be shifting on Syria; EU prepares fresh sanctions
Arab League says China, Russia may be shifting on Syria; EU prepares fresh sanctions
Iran says would act against enemies if endangered
"Iran would take pre-emptive action against its enemies if it felt its national interests were endangered, the deputy head of the Islamic Republic's armed forces was quoted by a semi-official news agency as saying on Tuesday."
"Iran would take pre-emptive action against its enemies if it felt its national interests were endangered, the deputy head of the Islamic Republic's armed forces was quoted by a semi-official news agency as saying on Tuesday."
"It wasn't supposed to be like this, the Neocons assured us. Iran would soon be on its knees because of ever more stringent US sanctions on Iran. But Iran just cheekily sent two warships through the Suez Canal to dock at the Syrian port of Tartous. The old Mubarak government in Egypt might not have allowed such a thing, but the Arab Spring has brought to power an Egyptian government eager to demonstrate its independence from Washington."
Somali pirates hijack ship off Oman
"Somali pirates have hijacked the MV Leila in the Arabian Sea, bringing the total number of attacks against ships to more than 40 this year."
"Somali pirates have hijacked the MV Leila in the Arabian Sea, bringing the total number of attacks against ships to more than 40 this year."
"Afghanistan's central-bank governor said he will issue new currency restrictions to stem the exodus of billions of dollars in cash—some of it in stolen U.S. aid and drug money—flowing out of the country as foreign forces withdraw."
Libya clashes kill scores in al-Kufra
"Scores have been killed and injured in clashes between two rival ethnic groups in Libya's remote south-eastern area, according to local reports."
"Scores have been killed and injured in clashes between two rival ethnic groups in Libya's remote south-eastern area, according to local reports."
Islamist attacks draw Nigeria and US military closer
"Dealing with Islamist groups such as Nigeria's Boko Haram will require more than a purely military approach, although Nigeria welcomes training from the US military's Africa Command."
"Dealing with Islamist groups such as Nigeria's Boko Haram will require more than a purely military approach, although Nigeria welcomes training from the US military's Africa Command."
U.S. Four-Star Down Under For Talks
"In line with a new U.S. strategy placing increased emphasis on the Pacific, the Navy's second-highest-ranking officer is visiting Australia and Singapore, meeting with defense officials to discuss a greater U.S. presence in the southwest Pacific."
## Global unrest/mob rule/angry people/torches and pitchforks ##
Rise in crime intensifies unease in once-safe Egypt
"In line with a new U.S. strategy placing increased emphasis on the Pacific, the Navy's second-highest-ranking officer is visiting Australia and Singapore, meeting with defense officials to discuss a greater U.S. presence in the southwest Pacific."
## Global unrest/mob rule/angry people/torches and pitchforks ##
Rise in crime intensifies unease in once-safe Egypt
"Egyptians say they don't recognize the country now, a place with carjackings, soccer melees and brazen bank robberies."
"Gaza's sole power generating plant stopped working last Tuesday when Egypt blocked the flow of diesel fuel through underground tunnels.
"The Israeli blockade and now Egypt's refusal to allow fuel into the blockaded territory despite appeals by Palestinian officials is adding to the severity of the crisis."
Power pulls the plug on ATMs (India)
Diesel shortage keeps 17 CTU buses off road (India)
## Infrastructure scavenging ##
Lahore: Copper cables stolen from railways loco shed
"Pakistan Railways is already in crisis due to corruption, shortage of diesel and engines while the thieves have now targeted engines parked at Lahore loco shed. The copper wires of 14 engines have been stolen."
## Got food? ##
Record Rice Crop Boosting Stockpiles to Decade High: Commodities
## Infrastructure scavenging ##
Lahore: Copper cables stolen from railways loco shed
"Pakistan Railways is already in crisis due to corruption, shortage of diesel and engines while the thieves have now targeted engines parked at Lahore loco shed. The copper wires of 14 engines have been stolen."
## Got food? ##
Record Rice Crop Boosting Stockpiles to Decade High: Commodities
This is good news... but we must keep in mind that virtually all rice is grown using oil products. -- RF
## Environment/health ##
Oilsands impacts posing 'financial risk' to Alberta, says PCO
"Collateral damage from Canada's booming oilsands sector may be irreversible, posing a 'significant environmental and financial risk to the province of Alberta,' says a secret memorandum prepared for the federal government's top bureaucrat."
Large areas of open ocean starved of oxygen
## Intelligence/security/internet/systemic breakdown ##
Canada's police chiefs support Internet surveillance bill
NSA: Anonymous Could Cause Power Outages Through Cyberattacks
## Intelligence/security/internet/systemic breakdown ##
Canada's police chiefs support Internet surveillance bill
NSA: Anonymous Could Cause Power Outages Through Cyberattacks
## Japan ##
Amid lingering devastation, next stage starts at Fukushima plant
"Overturned cars remain stuck in holes. Collapsed roads and mangled steel towers are still visible, as are twisted steel frames, shattered wood and crumbling concrete hanging precariously from the skeletons of buildings.
"Nearly a year after the March 11 earthquake and tsunami triggered the accident at the Fukushima No. 1 nuclear power plant, Tokyo Electric Power Co. is now preparing for the next stage in ending the crisis. But the scene at the site shows that an enormous amount of work lies ahead amid lingering uncertainties about the situation within the damaged nuclear reactors."
"Overturned cars remain stuck in holes. Collapsed roads and mangled steel towers are still visible, as are twisted steel frames, shattered wood and crumbling concrete hanging precariously from the skeletons of buildings.
"Nearly a year after the March 11 earthquake and tsunami triggered the accident at the Fukushima No. 1 nuclear power plant, Tokyo Electric Power Co. is now preparing for the next stage in ending the crisis. But the scene at the site shows that an enormous amount of work lies ahead amid lingering uncertainties about the situation within the damaged nuclear reactors."
Radiation from disaster detected 643 kms off Japan's coast
"Radioactive contamination from the Fukushima power plant disaster has been detected as far as almost 643 kilometers off Japan in the Pacific Ocean, with water showing readings of up to 1,000 times more than prior levels, scientists reported Tuesday."
Japan says no decision yet on Iran oil import cuts
"Radioactive contamination from the Fukushima power plant disaster has been detected as far as almost 643 kilometers off Japan in the Pacific Ocean, with water showing readings of up to 1,000 times more than prior levels, scientists reported Tuesday."
Japan says no decision yet on Iran oil import cuts
Current account deficit feared / Jan. trade figures portend account blowout, analysts say
"While the Finance Ministry reported Monday that Japan suffered a record trade deficit of 1.475 trillion yen in January, views are growing the nation will also post a current account deficit in January."
"While the Finance Ministry reported Monday that Japan suffered a record trade deficit of 1.475 trillion yen in January, views are growing the nation will also post a current account deficit in January."
Struggling utilities now down to 2 reactors online
"Electric power companies are warning of impending blackouts while eagerly awaiting approval of "stress test" reports to restart their reactors. But they also have to win over local governments and are now facing growing calls for further safety tests that would all but ensure Japan would be without nuclear energy this summer."
"Electric power companies are warning of impending blackouts while eagerly awaiting approval of "stress test" reports to restart their reactors. But they also have to win over local governments and are now facing growing calls for further safety tests that would all but ensure Japan would be without nuclear energy this summer."
"The impact of nuclear reactor shutdowns on business activities is being increasingly felt. Already hit by power shortfalls, private companies now fear power utilities may raise electricity fees."
## China ##
China sets up fund to bankroll takeovers
## UK ##
Energy bills force families to cut back on food and fuel
China sets up fund to bankroll takeovers
## UK ##
Energy bills force families to cut back on food and fuel
## US ##
As US Debt To GDP Passes 101%, The Global Debt Ponzi Enters Its Final Stages
Surging gas prices threaten to derail economic recovery
Drivers fume as average price for gallon of gas in New York City nears $4
California gas: $4 per gallon and counting
Surging gas prices threaten to derail economic recovery
Drivers fume as average price for gallon of gas in New York City nears $4
California gas: $4 per gallon and counting
Where Gas Could Go This Summer (CNBC video)
Also recounts incidents of violence against gas station employees. Gas riots and mobs: Coming soon to a venue near you. -- RF
Wealthy Enriched by Double-Dipping U.S. PlanEthanol 11 cents per gallon in red in January
"Figures from Iowa State University Extension confirmed that Iowa's ethanol plants operated in the red during January, to the tune of 11 cents per gallon."
"Figures from Iowa State University Extension confirmed that Iowa's ethanol plants operated in the red during January, to the tune of 11 cents per gallon."
Hey, I thought ethanol was supposed to make the US energy-independent! -- RF
Halftime in America? More like sudden death: Did Clint's pep talk signal end to mutant capitalism?
"Halftime in America, Clint Eastwood calls it. Halftime? No folks, the game's in overtime for Wall Street, the Super Rich and their 'mutant capitalism,' as Jack Bogle calls America's out-of-whack economic system in his 'Battle for the Soul of Capitalism.'"
"Halftime in America, Clint Eastwood calls it. Halftime? No folks, the game's in overtime for Wall Street, the Super Rich and their 'mutant capitalism,' as Jack Bogle calls America's out-of-whack economic system in his 'Battle for the Soul of Capitalism.'"
Multi-million dollar foreclosures (CNN Money slide show)
Bucket loads of What??? (Audio NSFW)
Source: BBC Weather
SABC Shoreline - Discovering South Africa's Coast
A stunning documentary drom the SABC exposing the South African Coastline in 14 episodes
Shoreline EP1 Overview and Introduction Shoreline EP2 Gariep to Groenriviersmond Shoreline EP3 Papendorp to Postberg Shoreline EP4 Yzerfontein to Robben Island Shoreline EP5 Cape Town to Cape Point Shoreline EP6 Cape Point to Cape Agulhas Shoreline EP7 Struisbaai to Knysna Shoreline EP8 Noetzie to Jeffreys Bay Shoreline EP9 Port Elizabeth to Hamburg Shoreline EP10 Cove Rock to Port Grosvenor Shoreline EP11 Mkambati to Amanzimtoti Shoreline EP12 Durban to Mtunzini Shoreline EP13 Richards Bay to Kosi Bay Shoreline EP14 The Making of Shoreline
News Links, February 21, 2012
## Global Ponzi meltdown/House of Cards ##
Second Greek bailout in reach despite funding gaps
Second Greek bailout in reach despite funding gaps
They are still doing this dance, even though the music has long since stopped. -- RF
Recession Looms as Growth Slows in Developed Countries
"Economic growth in developed economies almost ground to a halt in the last three months of 2011, with the U.S. driving what growth there was, according to the Organisation for Economic Co-operation and Development (OECD)."
"Economic growth in developed economies almost ground to a halt in the last three months of 2011, with the U.S. driving what growth there was, according to the Organisation for Economic Co-operation and Development (OECD)."
Air Australia: "You Should Make Other Travel Arrangements"
Australia's Bluescope Steel posts $570M loss
Australia's Bluescope Steel posts $570M loss
Any "recovery" will be temporary, as the overall trend is DOWN. -- RF
## Fault lines/flashpoints/powder kegs/military/war drums ##
South Korea begins military drills despite North Korea's threat to attack
South Korea begins military drills despite North Korea's threat to attack
"Iran has warned it may extend an oil embargo imposed on Britain and France to other European countries, and launched a military exercise to strengthen key nuclear sites against air strikes as a team of UN inspectors arrived in the country."
"Russia, China and Iran showed support for Syrian President Bashar al-Assad on Monday, days before an international meeting likely to pile more pressure on him to step down in the face of an increasingly bloody uprising."
Israelis fear homefront vulnerable to Iranian attacks
"Despite its confident saber-rattling, Israel's concern is growing that the country is vulnerable to a devastating counterstrike if it attacks Iran's nuclear program."
"Despite its confident saber-rattling, Israel's concern is growing that the country is vulnerable to a devastating counterstrike if it attacks Iran's nuclear program."
Possible Canadian Logistics Hub in Germany Opposed
"Canadian plans to set up a logistics hub at the German Köln Bonn Airport, announced by Canadian Defense Minister Peter MacKay during a Feb. 14 visit to Ottawa by his German counterpart, Thomas de Maizière, have been rejected."
"Canadian plans to set up a logistics hub at the German Köln Bonn Airport, announced by Canadian Defense Minister Peter MacKay during a Feb. 14 visit to Ottawa by his German counterpart, Thomas de Maizière, have been rejected."
## Global unrest/mob rule/angry people/torches and pitchforks ##
Arab Spring 'will reach every Arab state' – Prince Alwaleed
Gas shortage: Angry protesters block Airport Road for over 3 hours (Pakistan)
Gas shortage: Angry protesters block Airport Road for over 3 hours (Pakistan)
Bahrain police disperse march with water cannon
"Bahraini police used water cannon and tear gas to break up a march chanting anti-government slogans after a funeral Monday, while protesters were arrested for approaching a roundabout at the center of an uprising last year."
"Bahraini police used water cannon and tear gas to break up a march chanting anti-government slogans after a funeral Monday, while protesters were arrested for approaching a roundabout at the center of an uprising last year."
Saudi Arabia vows to end violence with "iron fist"
"Saudi Arabia's Interior Ministry said on Monday its security forces would use "an iron fist" to end violence in a Shi'ite Muslim area of the country and defended its tactics against what it called foreign-backed troublemakers."
"Saudi Arabia's Interior Ministry said on Monday its security forces would use "an iron fist" to end violence in a Shi'ite Muslim area of the country and defended its tactics against what it called foreign-backed troublemakers."
## Energy/resources ##
Oil Jumps to 9-Month High After Iran Cuts Supply
"Oil prices jumped to a nine-month high near $105 a barrel Monday in Asia after Iran said it halted crude exports to Britain and France in an escalation of a dispute over the Middle Eastern country's nuclear program."
"Oil prices jumped to a nine-month high near $105 a barrel Monday in Asia after Iran said it halted crude exports to Britain and France in an escalation of a dispute over the Middle Eastern country's nuclear program."
Asia taking lion's share of Iranian oil exports
Land Wars: Indonesia Unrest Shows Risks of Resource-Led Growth
Why Algal Biofuels May Never Hold the Key to the Future
Land Wars: Indonesia Unrest Shows Risks of Resource-Led Growth
Why Algal Biofuels May Never Hold the Key to the Future
"The depletion of world rock phosphate reserves will restrict the amount of food that can be grown, a situation that can only be compounded by the production of biofuels, including the potential large-scale generation of diesel from algae."
"Russia's 12-year oil boom is nearing its peak, forcing the next president to decide whether to cut taxes and revive production or use the windfall from $100 oil to boost public spending and quell mounting unrest."
Industrial city planned in north (Saudi Arabia)
India can't even keep the lights on. How can they guarantee off-site power to nuke plants? -- RF
## Got food? ##
South Sudan: Worsening Food Crisis
## Environment/health ##
Humanity's Growing Impact on the World's Freshwater
South Sudan: Worsening Food Crisis
## Environment/health ##
Humanity's Growing Impact on the World's Freshwater
## Intelligence/security/internet/systemic breakdown ##
Online surveillance bill opens door for Big Brother (Canada)
Senators Ramp Up Fear Mongering To Try To Rush Through Cybersecurity Bill (US)
## Japan ##
Japan logs record trade deficit in January
S&P Affirms Japan's AA- Credit Rating With Negative Outlook
S&P Affirms Japan's AA- Credit Rating With Negative Outlook
"There are now only two nuclear reactors operational in Japan—one at TEPCO's Kashiwazaki-Kariwa plant in Niigata and one at the Tomari plant in northern Hokkaido.
"Those two units are expected to be closed down for inspection by late April."
## China ##
China's Real Estate Market Is Getting Weaker And Weaker
## UK ##
Experts fear diseases 'impossible to treat'
"Rising energy prices have left the poorest families £450 short of being able to adequately heat their homes, a report reveals today. Meanwhile the big freeze in the past two weeks has cost each household in the UK an extra £77 in heating costs."
## US ##
Disability Fraud Holds Down Unemployment Rate; Jobless Disability Claims Hit Record $200B in January
Colorado may follow Utah's lead in gold, silver currency
News Links, February 20, 2012
## Global Ponzi meltdown/House of Cards ##
Germany Draws Up Plans for Greece to Leave Euro; Athens Rehearses the Nightmare of Default; Merkel's Denial Rings Hollow
"It's been crystal clear for weeks, if not much longer, that Germany has been actively seeking to persuade Greece to abandon the Euro."
Germany Draws Up Plans for Greece to Leave Euro; Athens Rehearses the Nightmare of Default; Merkel's Denial Rings Hollow
"It's been crystal clear for weeks, if not much longer, that Germany has been actively seeking to persuade Greece to abandon the Euro."
Japan, China to coordinate on IMF efforts on euro zone
"Japan and China agreed on Sunday they will jointly respond to any funding request from the International Monetary Fund, which is looking to more than double the size of its war chest to help countries deal with the euro zone crisis."
"Japan and China agreed on Sunday they will jointly respond to any funding request from the International Monetary Fund, which is looking to more than double the size of its war chest to help countries deal with the euro zone crisis."
## Fault lines/flashpoints/powder kegs/military/war drums ##
Iran stops oil sales to British and French firms
"Iran has stopped selling crude to British and French companies, the oil ministry said on Sunday, in a retaliatory measure against fresh EU sanctions on the Islamic state's lifeblood, oil."
"Iran has stopped selling crude to British and French companies, the oil ministry said on Sunday, in a retaliatory measure against fresh EU sanctions on the Islamic state's lifeblood, oil."
EU pays price for oil sanctions on Iran (Hurriyet Daily)
"Businesses and consumers across the European Union are starting to pay a financial penalty for the bloc's decision to ban crude oil imports from Iran. Near-record prices for crude oil are compounding the misery many firms and households were already suffering.
"Even though the sanctions have not gone into effect fully, they are already contributing to a steep rise in fuel costs."
"Even though the sanctions have not gone into effect fully, they are already contributing to a steep rise in fuel costs."
Asia evades the US mousetrap (Pakistan Daily)
"Washington's attempts to squeeze Iran into submission, via its sanctions, haven't exactly transpired the way the US think-tanks thought they would pan out with Asian oil importing heavyweights, Japan and South Korea, brushing off the US policy making. And the word is that India and China might even up their oil purchases from Iran, to further forestall the US efforts of forcing Iran into parting ways with its nuclear programme by targeting its economic nerve center."
"Washington's attempts to squeeze Iran into submission, via its sanctions, haven't exactly transpired the way the US think-tanks thought they would pan out with Asian oil importing heavyweights, Japan and South Korea, brushing off the US policy making. And the word is that India and China might even up their oil purchases from Iran, to further forestall the US efforts of forcing Iran into parting ways with its nuclear programme by targeting its economic nerve center."
Turkey and China 'helping Iran evade UN sanctions'
"Turkey and China are helping Iran to evade UN sanctions by providing them with secret banking facilities to purchase goods, according to Western security officials."
"Turkey and China are helping Iran to evade UN sanctions by providing them with secret banking facilities to purchase goods, according to Western security officials."
Iran warships 'dock in Syria's Tartous port'
"Iran state media says two vessels have crossed Suez Canal and arrived in Syria, provoking angry response from Israel."
"Iran state media says two vessels have crossed Suez Canal and arrived in Syria, provoking angry response from Israel."
"'Over 150 people are needed to do one combat air patrol' with U.S. Air Force Predator or Reaper drones, says Reginald Brothers, deputy assistant secretary of defense for research.
"'That's a lot of people,' he adds. 'These unmanned systems require more people to operate than tactical manned aircraft,' Brothers tells an industry conference Feb. 14 hosted by Aviation Week & Space Technology."
"Surrounded by American and NATO military bases, without nuclear weapons and no history of invading any nation in modern times, Iran is a threat. Israel, with hundreds of nukes and a record of assaulting its neighbors, and the U.S, with hundreds of military bases all over the world and the only nation to ever use nuclear weapons, are guardians of the peace. If you believe that, you need to take a sedative and see a mental health professional."
Mission accomplished! -- RF
Piracy in the Gulf of Guinea…"Exercise the Utmost Vigilance and Preparedness"
## Global unrest/mob rule/angry people/torches and pitchforks ##
## Global unrest/mob rule/angry people/torches and pitchforks ##
Riot police guard Greek assembly as protesters gather
"Riot police shielded Greece's national parliament Sunday as demonstrators gathered to protest against austerity measures on the eve of talks in Brussels on a 130-billion-euro ($171 billion) bailout needed to avert bankruptcy."
Fuel Prices Continue to Aggravate Road Haulage Freight Groups (UK/Ireland)
"The cost of fuel continues to be a cause of annoyance to freight groups in both countries but whereas UK agencies are still pushing for plans to reduce duty levels road haulage groups in the Republic intend to take much more direct action by closing the roads of Dublin from 0800 hrs on Wednesday the 22nd February to demonstrate their anger."
"Riot police shielded Greece's national parliament Sunday as demonstrators gathered to protest against austerity measures on the eve of talks in Brussels on a 130-billion-euro ($171 billion) bailout needed to avert bankruptcy."
Fuel Prices Continue to Aggravate Road Haulage Freight Groups (UK/Ireland)
"The cost of fuel continues to be a cause of annoyance to freight groups in both countries but whereas UK agencies are still pushing for plans to reduce duty levels road haulage groups in the Republic intend to take much more direct action by closing the roads of Dublin from 0800 hrs on Wednesday the 22nd February to demonstrate their anger."
Hundreds of thousands march in Spain against reforms
"Hundreds of thousands of people protested across Spain Sunday against reforms to the labor market they fear will destroy workers' rights and spending cuts they say are destroying the welfare state."
"Hundreds of thousands of people protested across Spain Sunday against reforms to the labor market they fear will destroy workers' rights and spending cuts they say are destroying the welfare state."
AP not alone in facing power crisis (India)
"The four southern states, including Andhra Pradesh, are in the grip of a severe power crisis. In an unprecedented situation, the shortfall in the four on Saturday touched 5,300 MW with Tamil Nadu topping the list with a shortfall of 3,000 MW. For the first time, Karnataka has invoked section 11 of the Electricity Act to prevent private power generators in the state from selling power to neighbours."
"The four southern states, including Andhra Pradesh, are in the grip of a severe power crisis. In an unprecedented situation, the shortfall in the four on Saturday touched 5,300 MW with Tamil Nadu topping the list with a shortfall of 3,000 MW. For the first time, Karnataka has invoked section 11 of the Electricity Act to prevent private power generators in the state from selling power to neighbours."
Saudi Arabia Cuts Oil Output, Export: Industry Report
"The world's top oil exporter, Saudi Arabia, appears to have cut both its oil production and export in December, according to the latest update by the Joint Organizations Data Initiative (JODI), an official source of oil production, consumption and export data...
"The world's top oil exporter, Saudi Arabia, appears to have cut both its oil production and export in December, according to the latest update by the Joint Organizations Data Initiative (JODI), an official source of oil production, consumption and export data...
"For the third month in a row, no details were available for the United Arab Emirates (UAE) and Libya, the immediate reasons for which are unclear."
Rising construction costs stall many projects (Saudi Arabia)
A Reality Check for the Solar Panel Industry
Iran tensions expose thin Asia strategic oil stocks - Campbell
"The increasingly tense standoff between the West and Iran must undoubtedly have big Asian oil consumers looking anxiously at their meagre strategic oil stocks."
Iran tensions expose thin Asia strategic oil stocks - Campbell
"The increasingly tense standoff between the West and Iran must undoubtedly have big Asian oil consumers looking anxiously at their meagre strategic oil stocks."
Is there really so much shale gas in the ground? (Foreign Policy!)
Has the United States beaten peak oil? Not so fast. (Washington Post!)
Spain to extend life of its oldest nuclear plant
"Spain will extend operations at its oldest nuclear power plant by five years, Industry Minister Jose Manuel Soria said Saturday as the country seeks to make the most of its energy sources."
"Spain will extend operations at its oldest nuclear power plant by five years, Industry Minister Jose Manuel Soria said Saturday as the country seeks to make the most of its energy sources."
"The Nabucco consortium is considering a much smaller project than the originally planned pipeline to carry Caspian natural gas to Europe, bowing to the reality of low gas amounts available at the moment in the region, according to people familiar with the situation."
## Infrastructure scavenging ##
Scrap yard hires private investigator to probe air conditioner thefts
## Got food? ##
Texas Water District Acts to Slow Depletion of the Ogallala Aquifer
Shocking numbers of South Asian children go to bed hungry
"One third of families in India, Pakistan and Bangladesh are regularly going to bed hungry due to soaring food prices in a region which accounts for half the worlds underweight children, the head of Save the Children says."
"One third of families in India, Pakistan and Bangladesh are regularly going to bed hungry due to soaring food prices in a region which accounts for half the worlds underweight children, the head of Save the Children says."
## Environment/health ##
Study: Climate change kills yellow cedars
"U.S. Forest Service researchers have confirmed what has long been suspected about a valuable tree in Alaska's Panhandle: Climate warming is killing off yellow cedar."
## Intelligence/security/internet/systemic breakdown ##
Data collection arms race feeds privacy fears
## Japan ##
Goldman reportedly delays samurai bond due to possible downgrade
"Goldman Sachs Group Inc. delayed its first sale of samurai bonds in four years after Moody's Investors Service placed the bank under review for downgrade, according to a source."
Goldman reportedly delays samurai bond due to possible downgrade
"Goldman Sachs Group Inc. delayed its first sale of samurai bonds in four years after Moody's Investors Service placed the bank under review for downgrade, according to a source."
## China ##
China Housing Correction Continues
## UK ##
Phone and email records to be stored in new spy plan
"Details of every phone call and text message, email traffic and websites visited online are to be stored in a series of vast databases under new Government anti-terror plans."
## US ##
China Housing Correction Continues
## UK ##
Phone and email records to be stored in new spy plan
"Details of every phone call and text message, email traffic and websites visited online are to be stored in a series of vast databases under new Government anti-terror plans."
## US ##
"Republican presidential candidate Ron Paul warned the U.S. is 'slipping into a fascist system' dominated by government and businesses as he held a fiery rally Saturday night upstaging established Republican Party banquets a short distance away."
U.S. nuclear plants similar to Fukushima spark concerns
API: US January Oil Use Down 5.7% Vs Year Ago, Near 18 Million B/D
API: US January Oil Use Down 5.7% Vs Year Ago, Near 18 Million B/D
"The U.S. Army is hoping foreign sales will be sufficient to keep tank factories up and running until the Army needs them again in 2017."
"This caused the switchyard to become de-energized, which removed the plant's connection to the electrical power grid. This is an especially precarious position for a nuclear plant, as the offsite power that is supplied to the nuclear power station is one of the key backup safety systems. While working to restore the power the plant also lost 1 of its 2 emergency diesel generators and suffered problems associated with the turbine-driven AFW pump."
Shades of Fukushima. Be afraid. Be very afraid! -- RF
2012-02-14 Britain Shouldn’t Aid a Lawless America
Source: New York Times
Credits: Eric L. Lewis
Dated: 2012-02-13
Britain Shouldn’t Aid a Lawless America
The British government will be held in contempt of court later this week if it does not physically produce a prisoner of war whom its special forces captured in 2004 and then handed over to American soldiers.
The current legal drama began in February 2004, when two Pakistani rice merchants, Yunus Rahmatullah and Amanatullah Ali, disappeared on a business trip to Iran. They were held incommunicado for nearly a year before their families learned that they had been captured by British forces in Iraq and then turned over to American soldiers.
The two men were transferred in accordance with an American-British-Australian agreement mandating observance of the Geneva Conventions and stipulating that all prisoners must be returned, if requested, to the country that originally transferred them.
Hitler's Son
Source: The Telegraph
Credits: Peter Allen
Dated: 2012-02-17
Refer Also:
- Hitler's secret photos reveal Nazi leader's vanity 2012-02-09
- For rent: Hitler's Wolf's Lair 18 Jan 2012
- Images of Adolf Hitler celebrating Christmas 2011-12-27
- Hitler cat fails to find home 2011-07-29
Hitler had son with French teen
Adolf Hitler had a son with a French teenager while serving as a soldier during the First World War, according to new evidence.
Hitler is said to have had an affair with Charlotte Lobjoie, 16, as he took a break from the trenches in June 1917 PhotoCredits: AP
Jean-Marie Loret, who died in 1985 aged 67, never met his father, but went on to fight Nazi forces during the Second World War.
News Links, February 19, 2012
## Global Ponzi meltdown/House of Cards ##
Greek Cabinet Tackles Austerity; Rescue Hopes Rise
"Greece's cabinet tackled on Saturday how to implement austerity demanded by the EU and IMF as a 130-billion-euro ($171-billion) rescue seemed within reach, while the euro zone considered modifying a deal with private creditors to help Athens reduce its huge debts."
Greek Cabinet Tackles Austerity; Rescue Hopes Rise
"Greece's cabinet tackled on Saturday how to implement austerity demanded by the EU and IMF as a 130-billion-euro ($171-billion) rescue seemed within reach, while the euro zone considered modifying a deal with private creditors to help Athens reduce its huge debts."
The Greeks continue to rearrange the deck chairs. -- RF
## Fault lines/flashpoints/powder kegs/military/war drums ##
Syrian forces fire on anti-Assad crowd in capital
Syrian forces fire on anti-Assad crowd in capital
China supports Arab League's proposals for Syria's violence
"China said Saturday it favored a solution to Syria's violence within theArab League framework and based on the group's proposals, a striking show of support just two weeks after Beijing vetoed a U.N. Security Council resolution backing the league's plans."
"China said Saturday it favored a solution to Syria's violence within theArab League framework and based on the group's proposals, a striking show of support just two weeks after Beijing vetoed a U.N. Security Council resolution backing the league's plans."
"Israeli Defense Minister Ehud Barak said Saturday a nuclear-armed Iran would trigger an arms race in the Middle East and nations should impose 'crippling' sanctions on Tehran to force it to give up its atomic program."
I don't hear any talk about sanctions to get Israel to give up its massive nuclear arsenal. -- RF
Israeli Attack on Iran 'Not Prudent': Depmsey
"An Israeli attack on Iran would be 'destabilizing,' the chairman of the U.S. Joint Chiefs of Staff, U.S. Army General Martin Dempsey, said."
"An Israeli attack on Iran would be 'destabilizing,' the chairman of the U.S. Joint Chiefs of Staff, U.S. Army General Martin Dempsey, said."
Is a US-Iran War Inevitable? (Daily Reckoning)
At least 24 killed in Russian Caucasus fighting
"Seventeen police and at least seven insurgents were killed in four days of fighting on the border between the Chechnya and Dagestan provinces in Russia's North Caucasus, police said Saturday."
"Seventeen police and at least seven insurgents were killed in four days of fighting on the border between the Chechnya and Dagestan provinces in Russia's North Caucasus, police said Saturday."
Libya sends army to stop clashes in southeast
"Libya has sent military forces to stem clashes between rival tribes over control of territory in the far southeast of Libya, the armed forces chief said on Saturday, as more people were reported killed in the violence."
"Libya has sent military forces to stem clashes between rival tribes over control of territory in the far southeast of Libya, the armed forces chief said on Saturday, as more people were reported killed in the violence."
## Global unrest/mob rule/angry people/torches and pitchforks ##
Eastern Europeans fuel fight for Internet freedoms
"A grassroots protest movement erupted last month in Poland and spread quickly across the former Eastern Bloc and beyond. The growing opposition against the Anti-Counterfeiting Trade Agreement, or ACTA, has raised questions about the fate of the treaty, which is important to the governments of the United States and other industrialized economies."
Military crackdown fans the flames of rebellion among Tibetan monks
Libya PM promises families cash to quell discontent
Charges against some N.Y. Occupy protesters dropped
Libya PM promises families cash to quell discontent
Charges against some N.Y. Occupy protesters dropped
## Energy/resources ##
Saudi construction costs surge as Aramco limits fuel
India's crude oil import burden gains as prices rally
India's crude oil import burden gains as prices rally
"A surge in oil prices sparked by saber-rattling from Iran is beginning to weigh on the global economic recovery, with potential ripple effects on consumers, corporate profits and interest rates."
This is propaganda. The price surge is sparked by US-led sanctions. -- RF
MEMC Posts $1.48 Billion Fourth-Quarter Loss as Prices Fall
"MEMC Electronic Materials Inc., the second-largest U.S. polysilicon maker, posted a fourth-quarter loss 38 percent greater than its market value as the price for the main raw material in solar cells plunged and it had costs related to cutting production and its workforce."
"MEMC Electronic Materials Inc., the second-largest U.S. polysilicon maker, posted a fourth-quarter loss 38 percent greater than its market value as the price for the main raw material in solar cells plunged and it had costs related to cutting production and its workforce."
## Got food? ##
Agricultural commodities to turn bullish on India, China farmland race
"Agricultural commodity prices may experience bullish trend as the two most populated nations, China and India, are in a mad race to secure farmland to meet the growing food demand, according to Danny Esposito, co-editor, Financial Web Site Penny Stock Detectives."
Texas Rice Farms Look for Miracle
"Rains in Texas have failed to refill water reservoirs for the state's main rice-growing areas, prompting the first-ever restrictions on irrigation that may lead to the smallest planted acreage since the 1920s."
"Rains in Texas have failed to refill water reservoirs for the state's main rice-growing areas, prompting the first-ever restrictions on irrigation that may lead to the smallest planted acreage since the 1920s."
## Intelligence/security/internet/systemic breakdown ##
Anonymous Promises Regularly Scheduled Friday Attacks
In case you haven't noticed, WW III has already started on the net. -- RF
## Japan ##
Nuke crisis caused by Japan, not quake: Kan
"Former Prime Minister Naoto Kan has admitted that Japan was woefully unprepared for last year's nuclear disaster and suggested that the crippled Fukushima No. 1 plant should not have been built so close to a tsunami-prone coastline."
Civil servant wages to be cut by 7.8%
## UK ##
Price of filling fuel tank hits £100 as diesel price races to record high of 143.05p a litre
London's homeless could be forced to move as far as Hull
London's homeless could be forced to move as far as Hull
"U.S. law enforcement officials said there never was any threat to the public. The explosives in the suicide vest and the gun he had been given by the FBI had been rendered inoperable and posed no danger to the public."
"Banks denying small businesses loans keep demanding what they can't have - collateral - and the disconnect is forcing firms to look elsewhere."
News Links, February 18, 2012
## Global Ponzi meltdown/House of Cards ##
More work needed yet on elusive Greek bailout deal
More work needed yet on elusive Greek bailout deal
"The International Monetary Fund is expected to contribute just €13 billion ($17.07 billion) to a second Greek aid package worth €130 billion, leaving euro-zone governments to provide a much bigger share of funds than they did in the euro zone's three earlier bailouts, people familiar with the situation said."
"Childish states of denial are always depressing. Luckily, however, they cannot last forever. Full-year results from French carmaker PSA Peugeot Citroën underscored - with much red ink - the overcapacity of Europe's new car market and the urgent need for industry-wide cuts."
## Fault lines/flashpoints/powder kegs/military/war drums ##
U.S. Navy fears small Iranian boats, confident of own
Mission impossible? U.S. wants sanctions to hurt only Iran
Mission impossible? U.S. wants sanctions to hurt only Iran
US Pleas for Asia to Cut Iranian Oil Imports Fall on Deaf Ears
"Last year China, India, Japan, and South Korea accounted for 60 percent of Iran's total oil exports, providing the country with $100 billion of revenue. As the EU oil sanctions take effect in July, Iran will feel an economic squeeze, which the West is hoping will force Tehran into talks over their nuclear regime. To further deepen the losses felt by Tehran the US are trying to encourage the Asian buyers to reduce their imports of Iranian oil. Unfortunately, the US have found that there suggestions have fallen on deaf ears, as South Korea and Japan are unwilling to cut imports, and China and India may well increase theirs."
"Last year China, India, Japan, and South Korea accounted for 60 percent of Iran's total oil exports, providing the country with $100 billion of revenue. As the EU oil sanctions take effect in July, Iran will feel an economic squeeze, which the West is hoping will force Tehran into talks over their nuclear regime. To further deepen the losses felt by Tehran the US are trying to encourage the Asian buyers to reduce their imports of Iranian oil. Unfortunately, the US have found that there suggestions have fallen on deaf ears, as South Korea and Japan are unwilling to cut imports, and China and India may well increase theirs."
Iran to pay rupee for India imports in "two weeks", says export body chief
"Indian exporters will be able to receive payments in the restricted rupee currency for sales to Iran within two weeks, the chief of India's top exporters' body said on Friday, as New Delhi puts a mechanism in place to maintain trade despite U.S. sanctions."
"Indian exporters will be able to receive payments in the restricted rupee currency for sales to Iran within two weeks, the chief of India's top exporters' body said on Friday, as New Delhi puts a mechanism in place to maintain trade despite U.S. sanctions."
Violence against shippers new norm off West Africa
"The waters off West Africa's coast are now a constant danger for those shipping goods and crude oil in the region, analysts said Tuesday, a day after pirates killed two sailors near Nigeria's coast."
"The waters off West Africa's coast are now a constant danger for those shipping goods and crude oil in the region, analysts said Tuesday, a day after pirates killed two sailors near Nigeria's coast."
"[T]he GoAGT (Gulf of Aden Group Transits) said yesterday that over the past week it has received first-hand information from sources indicating that several Pirate Action Groups (PAGs) have begun to focus operations in a new regional area. These sightings suggest that pirates are targeting the Cape to Arabian Gulf shipping lane."
With Egypt in turmoil, Israel builds fence to keep out trouble
It's going to take more than a fence to keep out what's coming. -- RF
It's going to take more than a fence to keep out what's coming. -- RF
Israeli Officials Blame Iran for Recent Bombings, Despite Lack of Evidence
"The bombs used in India, Georgia, and Thailand were 'strikingly reminiscent' of those in Israeli-supported attacks on Iranian scientists"
"The bombs used in India, Georgia, and Thailand were 'strikingly reminiscent' of those in Israeli-supported attacks on Iranian scientists"
## Global unrest/mob rule/angry people/torches and pitchforks ##
In Normally Stable Sengal, Police, Protesters Face Off
## Energy/resources ##
Chile faces blackout risks on frail grid-energy min
"Top copper producer Chile, already grappling with a severe drought, faces a risk of energy blackouts because of a creaking power grid that threatens the economy, the energy minister said."
"Top copper producer Chile, already grappling with a severe drought, faces a risk of energy blackouts because of a creaking power grid that threatens the economy, the energy minister said."
Power shortfall soars to 3,000 megawatts (Pakistan)
"The power shortfall has reached 3,000MW with supply cut of furnace oil to thermal units, including Independent Power Projects (IPPs)."
"The power shortfall has reached 3,000MW with supply cut of furnace oil to thermal units, including Independent Power Projects (IPPs)."
Damn good question! -- RF
Power Cuts Expected Due to Fuel Shortage (Iraqi Kurdistan)
Power Cuts Expected Due to Fuel Shortage (Iraqi Kurdistan)
US Congress deals major blow to wind power industry
Clean coal 'unviable for two decades' (Australia)
Clean coal 'unviable for two decades' (Australia)
Why Fuel Queues Reemerged – NNPC (Nigeria)
Fuel supply still tight as Chevron refinery shuts down (South Africa)
## Infrastructure scavenging ##
Southern African power firms lose K51bn in vandalism
"POWER utility firms in the Southern African Power Pool (SAPP) have lost US$10 million (about K51billion) in vandalism to infrastructure and theft during the last 12 months, theft and prevention working group chairperson Phillip Mhike has said."
Yes, food is a weapon. -- RF
Of course, oil. But this essay proposes an additional mechanism. -- RF
## Intelligence/security/internet/systemic breakdown ##
Computer scientists find hackers can easily track cell phone user's location
Computer scientists find hackers can easily track cell phone user's location
Google facing Congressional backlash over tracking of Safari users
## Japan ##
Insight: Japan slowly wakes up to doomsday debt risk
## Japan ##
Insight: Japan slowly wakes up to doomsday debt risk
And far too late, I might add. -- RF
Cabinet approves tax hike plan
"The cabinet on Friday approved a plan to double sales taxes as part of the government's move to rein in public debt as the rapidly aging nation faces rising social welfare costs."
"The cabinet on Friday approved a plan to double sales taxes as part of the government's move to rein in public debt as the rapidly aging nation faces rising social welfare costs."
The main effect of a 10% sales tax will likely be to goose the underground economy. -- RF
January electricity sales slide 3.7%
"The year-on-year decline was credited to power-saving efforts by businesses and households, the Federation of Electric Power Companies said."
"The year-on-year decline was credited to power-saving efforts by businesses and households, the Federation of Electric Power Companies said."
Decreased economic activity is also certainly a factor. -- RF
Fukushima pro-nuclear energy PR group calls it quits
"Directors of a publicity association in Fukushima Prefecture that promotes nuclear energy and publicizes its safety decided to disband on Feb. 16, feeling that they wouldn't be taken seriously in the wake of the accident at the Fukushima No. 1 nuclear power plant."
"Directors of a publicity association in Fukushima Prefecture that promotes nuclear energy and publicizes its safety decided to disband on Feb. 16, feeling that they wouldn't be taken seriously in the wake of the accident at the Fukushima No. 1 nuclear power plant."
Shanghai faces 2 gigawatt power shortage this summer
China Still Adding Aluminum Smelter Capacity In Spite of Cost Pressures
"Alcoa (and the rest of the world) have been waiting for the Chinese to curtail aluminum smelter capacity in the face of weak prices and the high cost of power and raw materials, but the Chinese continue to confound expectations and, as a recent Reuters report underlines, continue to add new capacity."
China Still Adding Aluminum Smelter Capacity In Spite of Cost Pressures
"Alcoa (and the rest of the world) have been waiting for the Chinese to curtail aluminum smelter capacity in the face of weak prices and the high cost of power and raw materials, but the Chinese continue to confound expectations and, as a recent Reuters report underlines, continue to add new capacity."
China Soybean Import Tops One-Day Record as Ties With U.S. Growers Expand
## UK ##
Diesel price reaches record high
Britain gives £2m in aid to Syria
## UK ##
Diesel price reaches record high
Britain gives £2m in aid to Syria
## US ##
Moody's Places America's Biggest Banks Under Review
Most of Big Country at 'high' or 'extreme' risk of water shortages by 2050, study says
America's wireless broadband problem just got a lot worse
Most of Big Country at 'high' or 'extreme' risk of water shortages by 2050, study says
America's wireless broadband problem just got a lot worse
Payroll Tax-Cut May Be Offset by Rising Gas Prices
"The latest inflation data shows rising gasoline prices could start pinching consumers and steal away any savings from the just-approved extension of the payroll tax cut."
"The latest inflation data shows rising gasoline prices could start pinching consumers and steal away any savings from the just-approved extension of the payroll tax cut."
20 Signs You Might Be A Typical American Worker
FBI 'anti-terror' arrest near US Capitol
Mexico President Felipe Calderon's message to US: 'No more weapons!'
FBI 'anti-terror' arrest near US Capitol
Mexico President Felipe Calderon's message to US: 'No more weapons!'
Pump, baby, pump! -- RF
Trucking challenges keep on piling up
"Higher fuel prices, upward pressure on driver pay and a suddenly more sluggish freight market are creating more challenges for the trucking industry– challenges that may continue to build as 2012 progresses."
"Higher fuel prices, upward pressure on driver pay and a suddenly more sluggish freight market are creating more challenges for the trucking industry– challenges that may continue to build as 2012 progresses."
And finally... Apparent heart attack at Heart Attack Grill
News Links, February 17, 2012
## Global Ponzi meltdown/House of Cards ##
Moody's warns may downgrade 17 global banks, securities firms
Moody's warns may downgrade 17 global banks, securities firms
Hey, they're supposed to be putting their nest eggs in stocks and bonds to express their confidence in the economic system! -- RF
The ghost towns of Spain: Images that are desolate symbols of collapsed property market
"With its empty streets, bricked-up shops and deserted playgrounds, the sprawling residential development of Sesena has become a ghost town and a desolate symbol of the collapse of Spain's property market."
"With its empty streets, bricked-up shops and deserted playgrounds, the sprawling residential development of Sesena has become a ghost town and a desolate symbol of the collapse of Spain's property market."
## Fault lines/flashpoints/powder kegs/military/war drums ##
Israel Shouldn't Act Alone on Iran, Panetta, De Maiziere Say
"U.S. Defense Secretary Leon Panetta and German Defense Minister Thomas De Maiziere urged Israel to coordinate its decisions on Iran with allies rather than pursuing military action on its own."
"U.S. Defense Secretary Leon Panetta and German Defense Minister Thomas De Maiziere urged Israel to coordinate its decisions on Iran with allies rather than pursuing military action on its own."
Russia opposes new U.N. resolution on Syria
"Russia opposes a draft resolution on Syria at the U.N. General Assembly, saying it focuses entirely on Bashar Assad's regime and fails to address the armed opposition, a top Russian diplomat said Thursday."
"Russia opposes a draft resolution on Syria at the U.N. General Assembly, saying it focuses entirely on Bashar Assad's regime and fails to address the armed opposition, a top Russian diplomat said Thursday."
NATO to Spend 3 Billion Euros on Global Hawk Program
Cuts to US Baghdad Embassy Amount to 'Fine Tuning'
Cuts to US Baghdad Embassy Amount to 'Fine Tuning'
## Global unrest/mob rule/angry people/torches and pitchforks ##
Non-payment of salaries: police baton-charge protesting LHWs
"Police resorted to tear gassing and baton-charge to disperse the Lady Health Workers (LHW) protesting against non-provision of their salaries and regularisation of services outside Karachi Press Club here on Wednesday."
Frankfurt airport set for more disruption on strike
"Airlines including Deutsche Lufthansa will have to cancel hundreds more flights to and from Frankfurt on Friday as a strike by airfield workers continues at the airport, Europe's third-largest hub."
"Airlines including Deutsche Lufthansa will have to cancel hundreds more flights to and from Frankfurt on Friday as a strike by airfield workers continues at the airport, Europe's third-largest hub."
"There is a real danger of power blackouts this summer, Energy and Water Resources Minister Uzi Landau warned yesterday at a press conference, as his ministry launched a controversial project to tackle the anticipated electricity shortages that includes buying new turbines."
Israel facing its worst electricity shortage
"Israel is facing the worst electricity shortage since its founding, a shortage that will peak this summer, the Water and Energy Ministry said Wednesday."
"Israel is facing the worst electricity shortage since its founding, a shortage that will peak this summer, the Water and Energy Ministry said Wednesday."
A 'power'less summer (India)
Beating History: Why Today's Rising Powers Can't Copy the West (Hint: Cheap energy)
Electricity dealers put grid on brink of blackout (Germany)
"Germany's electricity grid came to the brink of blackout last week – not because of the cold, but because traders illegally manipulated the system. They tapped emergency supplies, saving money but putting the system at risk of collapse."
"Germany's electricity grid came to the brink of blackout last week – not because of the cold, but because traders illegally manipulated the system. They tapped emergency supplies, saving money but putting the system at risk of collapse."
Rolling blackouts a possibility (Greece)
"The country's electrical grid has been in a state of high alert since Wednesday afternoon, owing to the risk of a blackout at any moment."
"The country's electrical grid has been in a state of high alert since Wednesday afternoon, owing to the risk of a blackout at any moment."
The Fight of the Century (Richard Heinberg)
"As the world economy crashes against debt and resource limits, more and more countries are responding by attempting to salvage what are actually their most expendable features—corrupt, insolvent banks and bloated militaries—while leaving the majority of their people to languish in 'austerity.' The result, predictably, is a global uprising. This current set of conditions and responses will lead, sooner or later, to social as well as economic upheaval—and a collapse of the support infrastructure on which billions depend for their very survival."
"As the world economy crashes against debt and resource limits, more and more countries are responding by attempting to salvage what are actually their most expendable features—corrupt, insolvent banks and bloated militaries—while leaving the majority of their people to languish in 'austerity.' The result, predictably, is a global uprising. This current set of conditions and responses will lead, sooner or later, to social as well as economic upheaval—and a collapse of the support infrastructure on which billions depend for their very survival."
NTPC Chairman Says Gas Shortage Hurting Power Production (India)
"NTPC Ltd.'s (532555.BY) gas-based power stations are operating at 60% of capacity due to fuel shortages, its chairman said Thursday."
Gas Rush (Trinidad)"NTPC Ltd.'s (532555.BY) gas-based power stations are operating at 60% of capacity due to fuel shortages, its chairman said Thursday."
"Despite assurances from Energy Minister Kevin Ramnarine, the National Petroleum Company (NP) and Petrotrin that there would be no shortage, panic-buying motorists purchased all the fuel at most service stations in South and Central Trinidad on Tuesday."
Nigeria Fuel Shortage
"In the third largest oil producing state, most commuters and motorists are being left stranded due to a severe fuel shortage."
"In the third largest oil producing state, most commuters and motorists are being left stranded due to a severe fuel shortage."
## Got food? ##
Price hike forced families to cut food intake: report
"Over one-third of families in Pakistan are forced to slash their food budget because of increasing food prices and financial problems, and up to 35 per cent of deaths in children below five years of age occur because of food shortage."
Global food demand to triple by 2050 : GIA
"Over one-third of families in Pakistan are forced to slash their food budget because of increasing food prices and financial problems, and up to 35 per cent of deaths in children below five years of age occur because of food shortage."
Global food demand to triple by 2050 : GIA
Guide to Self-Sufficient Living: Advice From Nine Modern Homesteaders
## Environment/health ##
States Gear Up Coastal and Environmental Conservation Initiatives as Studies Indicate Increasing Frequency of Intense Storms, Storm Surges
Bill Gates Supports Controversial Climate Change Plan
"With the help of a group of very wealthy and well known individuals, including Microsoft founder Bill Gates and Chairman of the Virgin Group, Richard Branson, a group of leading climate scientists are advocating for the use of controversial geoengineering as a way to prevent catastrophic climate change."
The EU's Emissions Trading System Isn't Working
"Emissions trading, the European Union hoped, would limit the release of harmful greenhouse gases. But it isn't working. The price for emissions certificates has plunged, a development that is actually making coal more attractive than renewable energy."
## Environment/health ##
States Gear Up Coastal and Environmental Conservation Initiatives as Studies Indicate Increasing Frequency of Intense Storms, Storm Surges
Bill Gates Supports Controversial Climate Change Plan
"With the help of a group of very wealthy and well known individuals, including Microsoft founder Bill Gates and Chairman of the Virgin Group, Richard Branson, a group of leading climate scientists are advocating for the use of controversial geoengineering as a way to prevent catastrophic climate change."
The EU's Emissions Trading System Isn't Working
"Emissions trading, the European Union hoped, would limit the release of harmful greenhouse gases. But it isn't working. The price for emissions certificates has plunged, a development that is actually making coal more attractive than renewable energy."
## Intelligence/security/internet/systemic breakdown ##
Hackers claim attack on American tear gas company
"A U.S. security company whose tear gas has been used against Egyptian demonstrators has become the latest victim of the Anonymous movement, hackers claimed Tuesday."
## Japan ##
Massive levels of radioactive cesium detected at quarry near Fukushima plant
Hackers claim attack on American tear gas company
"A U.S. security company whose tear gas has been used against Egyptian demonstrators has become the latest victim of the Anonymous movement, hackers claimed Tuesday."
## Japan ##
Massive levels of radioactive cesium detected at quarry near Fukushima plant
As Export Contracts Plunge, Shipbuilders Gird For Long Slump
"TOKYO (Nikkei)--Japan's shipbuilding industry received export orders for 13 vessels totaling just 651,000 tons in January, according to monthly statistics issued by the Japan Ship Exporters' Association.
"This represents a 56.7% drop from a year earlier as measured by gross tonnage and marks the second month in a row that export contracts have declined."
"TOKYO (Nikkei)--Japan's shipbuilding industry received export orders for 13 vessels totaling just 651,000 tons in January, according to monthly statistics issued by the Japan Ship Exporters' Association.
"This represents a 56.7% drop from a year earlier as measured by gross tonnage and marks the second month in a row that export contracts have declined."
Japan's nuclear generation capacity to fall to 4.6% over two units Feb 20
"Japan's combined nuclear generation capacity is set to fall to 2.268 GW over two nuclear reactors on February 20, as Kansai Electric is scheduled to shut the 870 MW No. 3 reactor at its Takahama nuclear power plant in western Japan that day, Platts calculations showed Thursday."
"Japan's combined nuclear generation capacity is set to fall to 2.268 GW over two nuclear reactors on February 20, as Kansai Electric is scheduled to shut the 870 MW No. 3 reactor at its Takahama nuclear power plant in western Japan that day, Platts calculations showed Thursday."
## China ##
Tighter restrictions dent Beijing housing sales
"Beijing saw housing sales plummet by 132,600 units between Feb 16, 2011 and Feb 15, 2012, compared with the same period of the previous year, the National Business Daily reported Thursday, citing figures published by the Beijing Municipal Commission of Housing and Urban-rural Development."
Rising Pump Prices Follow China Refining Losses: Energy Markets
More water shortages for China?
"Beijing saw housing sales plummet by 132,600 units between Feb 16, 2011 and Feb 15, 2012, compared with the same period of the previous year, the National Business Daily reported Thursday, citing figures published by the Beijing Municipal Commission of Housing and Urban-rural Development."
Rising Pump Prices Follow China Refining Losses: Energy Markets
More water shortages for China?
"The country's water shortages, along with serious river pollution and a deteriorating aquatic ecosystem, pose a growing threat to economic and social development, Hu Siyi, China's vice minister of water resources said Thursday, state-run news agency Xinhua reports."
Industrial Production unchanged in January, Capacity Utilization declines
$1.4 million cargo theft at Miami airport
$1.4 million cargo theft at Miami airport
"Freightwatch said this was the fourth incident at Miami International in a month, all targeting shipments of consumer electronics."
SCE Begins Plugging Tubes At San Onofre 2 Reactor In Calif
Drug shortages causing rationed care
"Doctors say prescription drug shortages across the country are leading to a rationing of care that can only be rectified by a compete overhaul of the drug manufacturing system."
Drug shortages causing rationed care
"Doctors say prescription drug shortages across the country are leading to a rationing of care that can only be rectified by a compete overhaul of the drug manufacturing system."
How We Work Now, In America (Gregor Macdonald)
Graph shows precipitous drop in ratio of full-time jobs to part-time jobs. -- RF
Car Sharing Picks Up Speed: Should Detroit Be Worried?
5 Reasons We'll See $4-a-Gallon Gas by Memorial Day
5 Reasons We'll See $4-a-Gallon Gas by Memorial Day
News Links, February 16, 2012
## Global Ponzi meltdown/House of Cards ##
Euro zone ponders delay of 2nd Greek bailout program
Euro zone ponders delay of 2nd Greek bailout program
"Europe's sovereign debt crisis seems to have affected the economic growth of a number of countries, with Italy and the Netherlands pushed into recession, according to latest data."
Paulson Says Euro Will Probably Unravel
"Paulson & Co., the $23 billion hedge fund whose founder John Paulson is seeking to recover from record losses last year, said Greece may default by the end of March, triggering the breakup of the euro."
"Paulson & Co., the $23 billion hedge fund whose founder John Paulson is seeking to recover from record losses last year, said Greece may default by the end of March, triggering the breakup of the euro."
Qatar begins hotel frenzy, 6,000 new rooms delivered
Russia Dumps Treasurys For 14 Consecutive Months; China Slashes Holdings To Lowest In Over A Year
Russia Dumps Treasurys For 14 Consecutive Months; China Slashes Holdings To Lowest In Over A Year
## Fault lines/flashpoints/powder kegs/military/war drums ##
Iran trumpets nuclear advances, deepening standoff with West
Fears over Iranian oil exports send crude prices soaring
"State-run TV in Iran claims Tehran has stopped exporting oil to the Netherlands, Greece, France, Portugal, Spain and Italy"
"State-run TV in Iran claims Tehran has stopped exporting oil to the Netherlands, Greece, France, Portugal, Spain and Italy"
Iran Oil Ministry Denies State Media Reports on EU Oil Stop
"Iran's Oil Ministry on Wednesday denied state media reports that the Islamic state stopped making crude exports to six European countries."
"Iran's Oil Ministry on Wednesday denied state media reports that the Islamic state stopped making crude exports to six European countries."
Analysis: Iran decides to give its Western adversaries a taste of their own medicine
"Simply by threatening to pre-empt the embargo and halt all sales to Europe, Iran can frighten the oil market and talk up the price of its biggest export. In the process, Tehran can boost its revenues and remind any adversary, particularly a crisis-hit country like Greece that depends heavily on Iranian crude, that the balance of economic power is not entirely one-sided."
"Simply by threatening to pre-empt the embargo and halt all sales to Europe, Iran can frighten the oil market and talk up the price of its biggest export. In the process, Tehran can boost its revenues and remind any adversary, particularly a crisis-hit country like Greece that depends heavily on Iranian crude, that the balance of economic power is not entirely one-sided."
Libya invites Syria rebels to open Tripoli office
"Libya will let Syria's opposition National Council open an office in Tripoli, Libya's interim leader Mustafa Abdel Jalil told Al Jazeera television on Wednesday."
"Libya will let Syria's opposition National Council open an office in Tripoli, Libya's interim leader Mustafa Abdel Jalil told Al Jazeera television on Wednesday."
Russia warns US against deploying Aegis ships in northern seas
"The Russian Chief of Staff, General Nikolai Makarov, today warned the US against stationing Aegis-equipped ships in the Black and northern seas."
"The Russian Chief of Staff, General Nikolai Makarov, today warned the US against stationing Aegis-equipped ships in the Black and northern seas."
## Global unrest/mob rule/angry people/torches and pitchforks ##
Over 120 hurt in Bahrain clashes, dialogue sought
Is an Arab Spring in the air for Algeria?
Camps Gone, US 'Occupiers' Prepare for Next Step
"Their encampments are largely gone, but the U.S. "Occupy" movement is far from dead, with organizers focused on a next wave of protest."
"Their encampments are largely gone, but the U.S. "Occupy" movement is far from dead, with organizers focused on a next wave of protest."
## Energy/resources ##
Fuel Shortage Forces Closure Of Gaza's Only Power Plant
"The power plant supplies around a third of electricity in the Hamas-controlled territory, with the remaining being supplied by Israel."
And Israel itself is not exactly blessed with excess energy. -- RF
Argentina On Verge Of Unprecedented Energy Shortage Warns IAE
"Argentina's Energy Institute (IAE) warned that the country faces an 'unprecedented energy crisis' with strong drops in hydrocarbons reserves, production and the loss of self sufficiency."
Argentina On Verge Of Unprecedented Energy Shortage Warns IAE
"Argentina's Energy Institute (IAE) warned that the country faces an 'unprecedented energy crisis' with strong drops in hydrocarbons reserves, production and the loss of self sufficiency."
"The International Energy Agency said revenue disputes between Sudan and South Sudan means overall production estimates are down 25 percent."
Risks to Global Oil Supply Rival Late 1970s: Report
"The potential threats to the global oil supply—especially Iran's vow to close the Strait of Hormuz—have not been this great since the Iranian Revolution and Iran-Iraq War three decades ago, according to a report by Deutsche Bank."
"The potential threats to the global oil supply—especially Iran's vow to close the Strait of Hormuz—have not been this great since the Iranian Revolution and Iran-Iraq War three decades ago, according to a report by Deutsche Bank."
## Got food? ##
500m children 'at risk of effects of malnutrition'
Pan-fried crickets: The food of the future?
## Environment/health ##
Counterfeits of Roche Cancer Drug Found in US Market
Extreme Cold in Ukraine (slide show)
## Intelligence/security/internet/systemic breakdown ##
FBI May Shut Down Your Internet Access March 8th
Acta loses more support in Europe
"Bulgaria and the Netherlands join Poland and Germany in refusing to ratify Acta, citing privacy and human rights issues"
Napolitano: Hezbollah Attack on U.S. Possible
"U.S. Homeland Security Secretary Janet Napolitano said she is concerned that Iran-backed Hezbollah will attempt a terrorist attack on American soil."
"Bulgaria and the Netherlands join Poland and Germany in refusing to ratify Acta, citing privacy and human rights issues"
Napolitano: Hezbollah Attack on U.S. Possible
"U.S. Homeland Security Secretary Janet Napolitano said she is concerned that Iran-backed Hezbollah will attempt a terrorist attack on American soil."
OMG! Are you scared now? -- RF
## Japan ##
Economists: BOJ's 'inflation target' to have limited effect
Elpida Shares, Bonds Slump After Financing Warning
Elpida Shares, Bonds Slump After Financing Warning
Japan may fund reconstruction with dormant bank accounts
"The government in Japan is contemplating using money from dormant bank accounts to help contribute to the reconstruction efforts following last year's earthquake and tsunami."
"The government in Japan is contemplating using money from dormant bank accounts to help contribute to the reconstruction efforts following last year's earthquake and tsunami."
Sheer desperation. -- RF
This will very likely prove to have low net energy. -- RF
Coast guard may not have to board to boot intruder ships
"The government is looking at authorizing the Japan Coast Guard to order foreign ships to leave the nation's territorial waters without onboard inspections."
"The government is looking at authorizing the Japan Coast Guard to order foreign ships to leave the nation's territorial waters without onboard inspections."
Japan's nuclear safety standards called flawed
## China ##
Even China Expects Fed to Do Another Round of Easing
## China ##
Even China Expects Fed to Do Another Round of Easing
China Trims Holdings of Treasuries to '10 Level
## UK ##
UK unemployment stuck at 17-year high as economy flatlines
## UK ##
UK unemployment stuck at 17-year high as economy flatlines
One in three people out of work for over a year, ONS says
"One in three unemployed people has been out of work for over a year, official figures showed yesterday, as economists warned that unemployment in Britain could soon break through the 3 million barrier."
Hard times see motorists to leave keys at home with car usage falling as cost cutting commuters seek cheaper alternatives
"One in three unemployed people has been out of work for over a year, official figures showed yesterday, as economists warned that unemployment in Britain could soon break through the 3 million barrier."
Hard times see motorists to leave keys at home with car usage falling as cost cutting commuters seek cheaper alternatives
## US ##
Are state 'revenue gaps' the next U.S. fiscal worry?
NYPD "Stop and Frisks" Hit All-Time High
Are state 'revenue gaps' the next U.S. fiscal worry?
NYPD "Stop and Frisks" Hit All-Time High
Could you ride out a Great Depression?
"When the Great Depression hit, many Americans were able to live off the land and wait it out. In today's sour economy, that's less of an option."
Counting Florida's homeless (CNN video)"When the Great Depression hit, many Americans were able to live off the land and wait it out. In today's sour economy, that's less of an option."
News Links, February 15, 2012
## Global Ponzi meltdown/House of Cards ##
Another day on the planet. The current world empire continues to unravel at breathtaking speed, stock markets have degenerated into pump-and-dump circuses with little connection to the real economy, and governments' bonds are toilet paper. Oh, and did I mention WW III? Have a nice day! -- RF
Another day on the planet. The current world empire continues to unravel at breathtaking speed, stock markets have degenerated into pump-and-dump circuses with little connection to the real economy, and governments' bonds are toilet paper. Oh, and did I mention WW III? Have a nice day! -- RF
Greece Will Have `Hard Default,' Gallo Says (Bloomberg video)
But still nothing specific. China just keeps stringing Europe along. -- RF
## Fault lines/flashpoints/powder kegs/military/war drums ##
China says envoy held talks with head of the Arab League over Syria
"Foreign Ministry spokesman Liu Weimin reiterated to reporters Tuesday that the problems in Syria should be resolved through negotiations,and that China believes that 'the Syrian issue, in essence, is an internal affair.'"
China's Wen Jiabao: 'No protection' for Syrian government
"Chinese Premier Wen Jiabao says Beijing will 'absolutely not protect any party' in the conflict in Syria."
"Chinese Premier Wen Jiabao says Beijing will 'absolutely not protect any party' in the conflict in Syria."
Opposition reports security clampdown in Tehran
"Iranian security forces deployed in parts of Tehran on Tuesday after opposition figures called on supporters to hit the streets in protest against the year-long house arrest of their leaders, the opposition website Kaleme reported."
"Iranian security forces deployed in parts of Tehran on Tuesday after opposition figures called on supporters to hit the streets in protest against the year-long house arrest of their leaders, the opposition website Kaleme reported."
U.S. carrier crosses Hormuz amid rising Gulf tensions
"A U.S. aircraft carrier strike group sailed through the Strait of Hormuz Tuesday more than a month after Iran warned a different carrier -- USS John C. Stennis -- not to return to the Gulf as Iranian navy boats sailed by."
"A U.S. aircraft carrier strike group sailed through the Strait of Hormuz Tuesday more than a month after Iran warned a different carrier -- USS John C. Stennis -- not to return to the Gulf as Iranian navy boats sailed by."
## Global unrest/mob rule/angry people/torches and pitchforks ##
Protests Rage Across Europe, Middle East (includes extensive photo gallery)
Rare visit to remote Chinese region shows depth of Tibetan despair
Tyre Protestors Shout Anti-Bassil Slogans Over Severe Power Rationing (Lebanon)
"Several residents of Tyre blocked on Sunday the road at the southern coastal city's entrance to protest electricity cuts but the army later reopened it, the National News Agency reported."
Tyre Protestors Shout Anti-Bassil Slogans Over Severe Power Rationing (Lebanon)
"Several residents of Tyre blocked on Sunday the road at the southern coastal city's entrance to protest electricity cuts but the army later reopened it, the National News Agency reported."
"Egypt's Bedouin accused of looting resorts, bombing pipelines and abducting foreigners in post-Mubarak security vacuum"
Rio police end strike in time for carnival
"Unions in Brazilian city vote to end protest over pay, but pledge to 'renew demands' once annual street party is over."
"Unions in Brazilian city vote to end protest over pay, but pledge to 'renew demands' once annual street party is over."
"Canadian power users should brace for higher electricity prices in the coming years as the country's utilities are forced to spend billions of dollars just to keep the lights on."
Hungary's needy given money to burn (literally) (video)
Romania struggles to meet power demand
"Freezing weather pushes up household consumption, forcing nation to limit power supplies to industries and halt export."
"Freezing weather pushes up household consumption, forcing nation to limit power supplies to industries and halt export."
## Infrastructure scavenging ##
Swansea surgeon condemns cable thefts which hit three hospitals
"A senior surgeon has criticised cable thieves after hospital computer systems were hit by an incident in Swansea."
"They say approximately $75,000 every month is lost due to copper wire theft. There are about 41,000 streetlights in the city and 4,000 are currently out."
## Got food? ##
"In fact, the Pentagon has already warned our team that by 2020, the planet's 'carrying capacity' will be so drastically compromised that they are already preparing military defense systems for the coming 'all-out wars over food, water, and energy supplies.'"
Corn needs plenty of fertilizers, whose prices are now "ridiculous." And diesel fuel just keeps getting more expensive. Water tables are dropping. How much longer for the US food export machine? -- RF
Snow, ice bury the Balkans
"Snow as deep as 15 feet isolated areas in Romania, Moldova and Albania on Tuesday and turned a power plant in Kosovo into a park of dazzling ice sculptures."
"Snow as deep as 15 feet isolated areas in Romania, Moldova and Albania on Tuesday and turned a power plant in Kosovo into a park of dazzling ice sculptures."
Deep-sea temperature up 0.02 degree every decade
## Intelligence/security/internet/systemic breakdown ##
The Final Tipping Point: Sheeple Meet Cliff (Financial Sense)
## Intelligence/security/internet/systemic breakdown ##
The Final Tipping Point: Sheeple Meet Cliff (Financial Sense)
"Social scientists revealed that with herds it only takes 5 percent of the herd to create a 'social tipping point'. This 5 percent is actually large enough to nudge the herd in a different direction."
Bandwidth breakdown: Mobile rates could rise
"The US has more wireless devices than people but without a large increase in bandwidth capacity, networks might crash."
"The US has more wireless devices than people but without a large increase in bandwidth capacity, networks might crash."
## Japan ##
Elpida debt talks in trouble, future uncertain
"Elpida Memory Inc., Japan's only remaining major DRAM-chip maker, said Tuesday talks to secure capital to ease the company's debt burdens weren't going smoothly, with the revelation raising doubts on Elpida's future."
Thai Floods Sink Japanese Insurers
"Elpida Memory Inc., Japan's only remaining major DRAM-chip maker, said Tuesday talks to secure capital to ease the company's debt burdens weren't going smoothly, with the revelation raising doubts on Elpida's future."
Thai Floods Sink Japanese Insurers
Japan Central Bank Joins Peers in Opening Spigots
Japan Announces $130 Billion QE Program, One Percent Inflation Target; 4th Quarter GDP Unexpectedly Contracts 2.3%; Lawmakers Threaten to Take Over Monetary Policy (Mish)
Japan Announces $130 Billion QE Program, One Percent Inflation Target; 4th Quarter GDP Unexpectedly Contracts 2.3%; Lawmakers Threaten to Take Over Monetary Policy (Mish)
BOJ Offers Game Plan For Defeating Deflation (Bank targets 1% inflation)
China to spend more on its military than all its neighbours combined as budget doubles
"China's military budget will outstrip the combined defence spending of the rest of the Asia Pacific region over the next five years, causing increased anxiety among its rivals and neigbours, a new report has claimed."
## UK ##
England heading for hosepipe bans after drier winter than 1976 drought
"China's military budget will outstrip the combined defence spending of the rest of the Asia Pacific region over the next five years, causing increased anxiety among its rivals and neigbours, a new report has claimed."
## UK ##
England heading for hosepipe bans after drier winter than 1976 drought
Lloyd's Says Thai Floods May Cost It $2.2B
Households £1,300 poorer despite falling inflation
"The average British household would need to spend almost £1,300 just to maintain the same living standards as a year ago, despite inflation falling to its lowest level for 14 months, economists have warned."
Households £1,300 poorer despite falling inflation
"The average British household would need to spend almost £1,300 just to maintain the same living standards as a year ago, despite inflation falling to its lowest level for 14 months, economists have warned."
20 Things We Can Learn About The Future Of America From The Death Of Detroit
"Do you want to know what the future of America is going to look like? Just check out what is happening to Detroit."
Never before have gas prices risen so high so early in the year"Do you want to know what the future of America is going to look like? Just check out what is happening to Detroit."
It's Not Just Gasoline Consumption That's Tanking, It's All Energy (Financial Sense)
"It's not just gasoline consumption that's declining--petroleum and electricity consumption are also dropping. Is that indicative of economic growth?"
"It's not just gasoline consumption that's declining--petroleum and electricity consumption are also dropping. Is that indicative of economic growth?"
American Airlines workers protest job, pay cuts
Social Security Is Failing Even Faster Than We Thought
Social Security Is Failing Even Faster Than We Thought
Pensions and retirement: going, going... -- RF
2012-02-20 What you need to know
"The mass media do not transmit ideologies; they are themselves an ideology."--Umberto Eco, Towards a Semiological Guerilla Warfare
Purports to be a Time Cover (It is not.) Instead it shows the current (2012-02-20) US ("The surprising science of animal friendships") and a European covers (Mario Monti "Can this man save Europe?") of Time magazine, together with a previous (2011-12-05) US cover ("Why stress is good for you") and much more serious European covers ("Revolution Redux").
Source: Received, uncredited, via email.
2012-02-11 Our bitches - and theirs.
[ Emilie wonders : Could it be that American diplomats are suggesting that it is time to drop the veto and give the UN the teeth to enforce its decisions? Probably not. After all, the USA is responsible for most of the UN Security Council vetos - on behalf of Israel and other brutal totalitarian governments and those of whom we approve even when they are sponsoring terrorism. We are apparently addicted to the stench of hypocrisy in the morning, at noon, in the afternoon and at night. Which is why we shouldn't be amazed when other people, not baffled by our propaganda bullshit, laugh at us. ]
Source: AFP via RIA Novosti
Credits: Saul Loeb
Dated: 2012-02-04
U.S. ‘Disgusted’ by Russia, China Double Veto on Syria Resolution
U.S. Ambassador to the United Nations Susan Rice said on Saturday she was "disgusted" by the Russian and Chinese veto on a Security Council resolution on Syria that urges President Bashar al-Assad to step down.
Thirteen of the council’s 15 members voted in favor of the resolution aimed to stop the ongoing violence in Syria.
"Any further bloodshed that flows will be on their [Russia's and China's] hands," she said.
U.S. Secretary of State Hillary Clinton said the failure to condemn President al-Assad increased the risk of more bloodshed and civil war in Syria.
News Links, February 14, 2012
## Global economic meltdown/House of Cards ##
Moody's Cuts Sovereigns Including Italy, Spain
"Moody's Investors Service cut the debt ratings of six European countries including Italy, Spain and Portugal and revised its outlook on the U.K.'s and France's top Aaa rating to 'negative.'"
Moody's Cuts Sovereigns Including Italy, Spain
"Moody's Investors Service cut the debt ratings of six European countries including Italy, Spain and Portugal and revised its outlook on the U.K.'s and France's top Aaa rating to 'negative.'"
Europe Job Losses Accelerate on AstraZeneca-to-PepsiCo Cuts
"Global companies from NEC Corp. (6701) to PepsiCo Inc. (PEP) and AstraZeneca Plc (AZN) are chopping jobs more than three times faster than in 2011 as they brace for recession in Europe and a slowdown in China."
"Global companies from NEC Corp. (6701) to PepsiCo Inc. (PEP) and AstraZeneca Plc (AZN) are chopping jobs more than three times faster than in 2011 as they brace for recession in Europe and a slowdown in China."
Cracks in Agreement in Greece, Finland, Germany, France; Of Duct Tape, Glue, Rubber Bands (Mish)
"The latest Greek deal is unraveling in multiple places already. The EMU wants to hold it together but can't. Cracks are wide, deep, and widening."
"The latest Greek deal is unraveling in multiple places already. The EMU wants to hold it together but can't. Cracks are wide, deep, and widening."
Norway Faces Severe Credit Shock as Household Debt Swells, FSA Chief Warns
"Norway faces 'severe' imbalances in its credit and property markets as households continue to amass debt at unsustainable levels, according to the head of the country's financial regulator."
"Norway faces 'severe' imbalances in its credit and property markets as households continue to amass debt at unsustainable levels, according to the head of the country's financial regulator."
## Fault lines/flashpoints/powder kegs/military/war drums ##
Admiral Seeks Freer Hand in Deployment of Elite Forces (US)
"Even more, Admiral McRaven wants the authority to quickly move his units to potential hot spots without going through the standard Pentagon process governing overseas deployments."
"Israel accused arch-enemies Iran and its Lebanese ally Hezbollah of being behind twin bomb attacks that targeted Israeli embassy staff in India and Georgia Monday, wounding four people."
As noted yesterday, this is why the US is so desperate to take down Iran. -- RF
## Global unrest/mob rule/angry people/torches and pitchforks ##
Clashes in Bahrain on eve of uprising anniversary
"Hundreds of protesters marched in the Bahraini capital Manama Monday, trying to retake a landmark roundabout and blocking a highway on the eve of the first anniversary of a pro-democracy uprising in the Gulf Arab kingdom."
"Hundreds of protesters marched in the Bahraini capital Manama Monday, trying to retake a landmark roundabout and blocking a highway on the eve of the first anniversary of a pro-democracy uprising in the Gulf Arab kingdom."
## Energy/resources ##
Indian refiners seek 2.6m bbl extra Saudi oil
"Indian refiners have sought at least 2.6 million barrels extra supplies from Saudi Aramco for March, according to sources familiar with the plan...
"The supply of extra barrels is yet to be confirmed by Saudi Aramco, said the sources."
"Indian refiners have sought at least 2.6 million barrels extra supplies from Saudi Aramco for March, according to sources familiar with the plan...
"The supply of extra barrels is yet to be confirmed by Saudi Aramco, said the sources."
Saudis Said to Ship All Committed March Oil to Japan, China
"Saudi Arabian Oil Co. will supply all its contracted volumes of crude to Japanese and Chinese customers in March, said three refinery officials who received notification from the world's biggest exporter."
"Saudi Arabian Oil Co. will supply all its contracted volumes of crude to Japanese and Chinese customers in March, said three refinery officials who received notification from the world's biggest exporter."
Remember: The oil KSA is sending to Asia is not going to other places. KSA is no longer a swing producer, and world crude production has been stagnant for seven years. It's a zero-sum game, baby. -- RF
Refiners increase fuel prices by NT$0.4 (Taiwan)
"The nation's two oil refiners yesterday said they would raise domestic gasoline and diesel prices after international crude oil prices rose last week as global demand climbed amid a cold winter in Europe."
Refiners increase fuel prices by NT$0.4 (Taiwan)
"The nation's two oil refiners yesterday said they would raise domestic gasoline and diesel prices after international crude oil prices rose last week as global demand climbed amid a cold winter in Europe."
Blizzard cuts power in Balkans
"Freezing temperatures have left thousands of people stranded without power in the Balkans and elsewhere in Europe as the death toll rises."
"Freezing temperatures have left thousands of people stranded without power in the Balkans and elsewhere in Europe as the death toll rises."
## Got food? ##
Tar sands concerns spread beyond Keystone
Fracking's Toll on Pets, Livestock Chills Farmers: Commentary
Fracking's Toll on Pets, Livestock Chills Farmers: Commentary
## Intelligence/security/internet/systemic breakdown ##
Sky is the limit for use of mini, unmanned planes (Canada)
"Japan's nuclear-power crisis, which has cut power-generating capacity by nearly 25%, has left the country dependent on aging conventional plants that are being pushed well beyond their normal limits to keep the lights on and businesses functioning."
Nothing to see here, folks. Move right along. -- RF
"High levels of radioactive cesium have been detected in noodles produced in Okinawa, apparently because they were made with water filtered by ashes from Fukushima-produced wood."
Trade Data: Is China Losing Its Steam?
## UK ##
Call for energy bill cuts as hypothermia deaths almost double
## UK ##
Call for energy bill cuts as hypothermia deaths almost double
"Calls for energy bills to be cut intensified last night after it emerged that the number of people dying of hypothermia has almost doubled in the past five years."
Includes video of kids telling what it's like going to bed hungry. -- RF
Bank of America, Citigroup Face Debt Downgrade: Moody's
Class, eloquence, wit and graciousness. Thank-you Audrey.
Source: http://www.mentalfloss.com/blogs/archives/116624
This is just a little note from an actress to the man who composed the score for her recent film. That’s all.
Dear Henry,
I have just seen our picture – BREAKFAST AT TIFFANY’S – this time with your score.
A movie without music is a little bit like an aeroplane without fuel. However beautifully the job is done, we are still on the ground and in a world of reality. Your music has lifted us all up and sent us soaring. Everything we cannot say with words or show with action you have expressed for us. You have done this with so much imagination, fun and beauty.
You are the hippest of cats – and the most sensitive of composers!
Thank you, dear Hank.
Lots of love
Audrey [Hepburn]
