Rice Farmer

## Global Ponzi meltdown/House of Cards ##
World's Richest Lose $33 Billion as Facebook Debut Stalls

## Airline Death Spiral ##
Airlines: Flying into area of high pressure

## Fault lines/flashpoints/powder kegs/military/war drums ##
Beijing on 'high alert' over Huangyan
"Beijing has vowed to remain on 'high alert' over Huangyan Island in case of any provocations, after Manila on Friday postponed a protest trip to the island."

From Mubarak to Worse
"More than 15 months after Egypt's Tahrir Square uprising and four months after free parliamentary polls, many Egyptians say that daily living conditions are worse now than they were in the Mubarak era."

G8, raising pressure on Iran, puts oil stocks on standby

## Global unrest/mob rule/angry people/torches and pitchforks ##
Molotov cocktails launched in Montreal protests following legal crackdown

## Energy/resources ##

7 Reasons Speculators are Not to Blame for Higher Oil and Gas Prices
US shale boom to underpin global 'mismatch' of refining capacity: analyst
"The surge in output of US oil and natural gas liquids with over 50 API comes at a time when most US refining capacity additions have been geared towards heavy, sour crude, Sen told an oil conference in London."

## Got food? ##

US agriculture companies set millions for Africa
"A group of U.S. seed, chemical and equipment companies will invest at least $150 million over the next few years into African agricultural projects and products, the companies said on Friday."
Jim Rogers: Agriculture Will Fuel Commodities Rally

## Environment/health ##
The Big Fix: documentary exposes BP, U.S. Gov't on Gulf disaster

Unless they abandon the infinite-growth paradigm, their efforts are going nowhere. -- RF

## Intelligence/security/internet/systemic breakdown ##
Anti-NATO activists weighed Obama HQ attack: prosecutors
Google's New Search Tool to Use CIA and World Bank as Sources for 'Facts'

## Japan ##

Govt lays out power cuts for summer
"The government officially decided Friday on summer electricity consumption reduction targets, setting power savings goals of up to 15 percent of electricity demand seen in peak hours during the exceptionally hot summer of 2010."
Voluntary power-saving plan risky if heat, economy collide

## China ##
Property price decline spreading

Barclays Reiterates 'No Hard Landing' Call For China
Don't they know these GDP numbers are cooked? -- RF

## UK ##
Up to 1,000 new doctors could face unemployment

## US ##
J.P. Morgan Struggles to Unwind Huge Bets
US elections: Why does the world's greatest democracy offer just two choices?

And that's hardly a choice. You call this democracy? -- RF

## Global Ponzi meltdown/House of Cards ##

Ex-ECB Chief Trichet Unveils Bold Plan to Save Euro
"Europe could strengthen its monetary union by giving European politicians the power to declare a sovereign state bankrupt and take over its fiscal policy, the former head of the European Central Bank said on Thursday in unveiling a bold proposal to salvage the euro."

China Stocks In Trouble As Hang Seng Breaks Support Again
"Bearish sentiment from investors has taken the Hang Seng Index through its 19,000 support level for the second time in less than 72 hours, opening nearly 500 points lower Friday in Hong Kong to 18782 points.  Investors seem to be heading for the mattress and safety deposit boxes, avoiding even the dollar and euro fixed income."

Where nervous Greeks are stashing cash (CNN Money video)

## Airline Death Spiral ##
Cloudy Skies for Asian Airlines

## Fault lines/flashpoints/powder kegs/military/war drums ##

Israeli Leadership Hardens Stance, Plans Iran Attack
"'It Is Going to Happen,' Insists Top Official"
Experts puzzled by mysterious UAVs on Chinese frigate

## Global unrest/mob rule/angry people/torches and pitchforks ##
Anti-war protesters march at Obama campaign headquarters

Al-Qaeda leader Ayam al-Zawahri calls on Saudi Arabia to rise up
"Al-Qaeda chief Ayman al-Zawahiri has urged Saudis to follow the example of the Arab Spring and rise up against their rulers."

Thousands protest in Bahrain against Gulf union plan
"Tens of thousands of mainly Shi'ite protesters rallied in Bahrain on Friday against proposals for closer ties with other Gulf Arab countries, a plan pushed by Saudi Arabia to contain dissent in Bahrain and counter Iran's regional influence."

Charest launches legislation to crack down on student protests (Canada)
"Just hours after the Quebec government responded to student groups with an offer to resume negotiations, it unveiled legislation Thursday night that would crack down on protesters – and especially the student groups that endorse demonstrations."

Police detain 400 "Blockupy" activists in Frankfurt
"German police said they detained 400 anti-capitalist protesters in Frankfurt on Friday for defying a ban on demonstrations against austerity policies implemented to tackle the intensifying euro zone debt crisis."

Possible Sale for Strategic Oil Reserves on G8 Agenda
"At this weekend's meeting of the leaders of the G8 countries (the US, the UK,Germany, Japan, Canada, Italy, France, and Russia) at Camp David, President Obama is expected to raise the issue of selling crude oil from strategic reserves in a move to lessen the impact of tough restrictions on the sale of Iranian oil which begin in July."

## Energy/resources ##
Saudis, soaring costs may keep oil above $100

"Oil industry executives and bankers are assuming oil prices will stay above $100 a barrel in the year ahead, despite mounting economic worries, as any fall below that level would trigger a cut in Saudi Arabia's output and force closures at high-cost projects around the world."

Spot power prices may go up 17% by June (India)

## Infrastructure scavenging ##
Plaque to boys killed by IRA Warrington bomb stolen (UK)

## Environment/health ##
Deadly virus hits Canada salmon farm

## Intelligence/security/internet/systemic breakdown ##
House panel calls for serious cuts to propaganda spending (US)

Egad! The fiscal situation is much more desperate than I had imagined! -- RF

Exclusive: Drugmakers weigh emergency supply plan for Greece
"International drugmakers are working with European authorities on emergency plans to keep medicines flowing into Greece if the country crashes out of the euro."

## Japan ##
Idemitsu, JX, Cosmo Oil Renew Crude Term Contracts With Iran

Edano dissatisfied with Japanese bank's freezing of Iranian assets
"Japanese industry minister Yukio Edano expressed dissatisfaction Friday over the Bank of  Tokyo-Mitsubishi UFJ's freezing of the Iranian government's assets in response to an order by the New York State Supreme Court.
"'What's happened is clearly wrong because a U.S. court decision isn't supposed to apply outside the United States,' Edano said at a press conference after a Cabinet meeting."

## China ##
China's Car Dealerships Struggle as Stockpiles Increase

"Unsold cars are crowding dealer lots in cities from Guangzhou in the south to Xi'an to the west. It's like a contagious disease that will spread."

## UK ##
Britain needs a space port, business leaders claim

Now you're talking! -- RF

British economy may 'never quite recover' from a severe Euro collapse

## US ##
Courts choking on cash deficit
"Deep budget cuts to state courts proposed by Gov. Jerry Brown have judges predicting a 'rationing' of justice."

"The House bill basically provides Israel with a blank check drawn on the U.S. taxpayer to maintain its "qualitative military edge" over all of its neighbors combined."

## Global Ponzi meltdown/House of Cards ##
Spain GDP Contracts

Moody's downgrades Spanish regions
"Spain got yet another slap in the face Thursday, when Moody's Investors Service downgraded four regions of the country due to their poor fiscal performance.
"The credit ratings agency issued the downgrade of Catalunya, Murcia, Andalucia and Extremadura because the regional governments are using massive amounts of debt to fund their operations and are unlikely to meet a financial target set by Spain's central government."

Euro area official sector exposures to Greece in excess of EUR 290bn Total; EUR 84bn Germany, EUR 63bn France, EUR 55bn Italy, EUR 37bn Spain (Mish)

Exclusive: ECB stops operations with some Greek banks
"The European Central Bank has stopped providing liquidity to some Greek banks as they have not been successfully recapitalized, the ECB said on Wednesday, confirming news earlier reported exclusively by Reuters."

## Airline Death Spiral ##
Frontier Airlines ending direct flights to Milwaukee

## Fault lines/flashpoints/powder kegs/military/war drums ##
The Empire Holds Its War Council in Chicago

South Korea and Japan want EU insurance for Iran oil post - Embargo
"The News reported that South Korea and Japan are asking the European Union to give them access to European insurance for Iranian oil shipments even after July 1st 2012 embargo comes into effect."

S.Africa "confident" of solution to Iran oil ban
"South Africa, which receives a quarter of its crude from Iran, is holding almost daily discussions with the United States, EU Union and Iran about reducing its purchases and is 'confident' a deal can be struck to avert U.S. sanctions, a senior energy official said on Thursday."

Turkish jets stop 'Israeli violation' of airspace
"Turkey says it scrambled two military jets to chase away an Israeli plane which allegedly violated the airspace of Turkish-held northern Cyprus."

Chile advances plan to build submarine
"Chile is going ahead with plans to build its own submarine and patrol boats as part of a program to develop the Latin American nation's defense manufacturing industry."

## Global unrest/mob rule/angry people/torches and pitchforks ##
Russian police detain protest leader, five others

Pre-NATO situation under control: Chicago police

## Energy/resources ##

India cannot afford import of large quantities of crude oil:FM 
"Amid rising global crude oil prices, Finance Minister Pranab Mukherjee today warned of 'disastrous consequences' if corrective steps are not taken to deal with the problem as India cannot afford import of large quantities at high prices.
"'Petroleum prices are increasing by leaps and bounds. We cannot keep them under any carpet. If we do not take corrective measures, we will have to face disastrous consequences,' he said."

Several power plants to shut down on dearth of fuel, transmission facilities (India)
No Ties Or Hand-Driers As South Korea Readies For Hot Spell

Summer Power-Saving Measures for Businesses Announced (Korea)
"Power-saving measures for the summer will take effect from June 1, one month earlier than usual, as there are already warning signs of an electricity shortage due to freak hot weather."

Power-saving efforts alone insufficient to overcome shortage (Japan)
Pipeline Reversal from Cushing to Gulf Coast is Complete

"Crude from the Bakken oil play and the Canadian oil sands sells at a steep discount to Brent crude, which sets the price benchmark on the Gulf Coast. Producers hope to boost the price they get for their crude if they can just get the black stuff to more liquid market. For consumers, closing the price differential will very likely mean higher prices."

Power shortfall widens: exemption to textile sector withdrawn (Pakistan)

## Infrastructure scavenging ##
Metal thefts: statue of Christ, crucifix and hundreds of cemetery memorial plaques found in raid on scrapyard (UK)
"Hundreds of memorial plaques from churches and crematoriums, a statue of Christ and entire intact cross were among a major haul of items seized by police in a raid on scrap metal dealer's yard."

## Got food? ##

"No civilization has ever faced the agricultural challenges confronting us over the coming decades. Ever. And if we can pull it off – wherever we CAN pull it off – it will necessarily be with an agriculture of maximum resilience; an agriculture that can get knocked down and stagger back up again and again and again. So let's do this."

## Environment/health ##

Nuclear Cheerleaders Use Voodoo Science to Pretend Low Levels of Radiation Are Safe … Or Even Good For You
UK Climate Experiment Canceled On Patent Concerns
"British scientists have abandoned an experiment to test the possibility of spraying particles into the upper atmosphere to stem global warming, largely due to concerns over a patent for some of the technology, the project's leader said."

Critics cry foul over Ohio frack proposals
"A measure passed by the Ohio Senate on hydraulic fracturing falls short of what's needed for responsible environmental oversight, an advocacy group said."

'Queen of Disco' Donna Summer 'thought she became ill after inhaling 9/11 particles'
"Donna Summer, the 1970s pop singer known as the Queen of Disco, has died of lung cancer, an illness she believes she contracted from inhaling toxic particles released after the September 11 terrorist attacks in New York."

Agent Orange 'tested in Okinawa'
"Recently uncovered documents show that the United States conducted top-secret tests of Agent Orange in Okinawa in 1962, according to a veterans services employee."

## Intelligence/security/internet/systemic breakdown ##

9 Scary Ways Criminals Use Facebook to Scam and Rob You
## Japan ##
Japan's GDP Accelerates on Government Outlays

"It's unclear, though, how long Japan itself can continue on that path, with policymakers also focused on trying to boost taxes to reign in the country's sovereign debt which is twice the size of its economy, the worst level among industrialized nations, and even worse than Greece."

"Due partly to the unit's shutdown, the company sees a 1.9 percent power shortage in August, and is expected to call on its customers to curb consumption during the peak power season."

Hot dog! It's a new era! -- RF

Tokyo-Mitsubishi UFJ freezes Iran transactions on U.S. court order
"The head of the Japan's banking lobby group said the action could affect crude imports, although the country's biggest refiner said it was not facing a problem paying for Iranian oil."

Ending an era, Toshiba pulls the plug on making televisions in Japan
Govt claims cyberdefense right / Says international laws should be applied to computer infiltration
"The Foreign Ministry believes Japan has the right of self-defense against cyber-attacks through existing international laws including the U.N. Charter, it has been learned."

## China ##
China's Economic Slowdown Foreshadows Trouble for the U.S.

## UK ##
Don't come dine with me: Britons shun dinner parties as costs soar

How many "excess deaths" next winter? -- RF
Met Police uses 'quick' mobile data extraction system against suspects

## US ##
Food Stamp Use Picks Up Again, In Los Angeles County
"After a winter lull, food stamp participation in Los Angeles County picked up again in March, to rise to a new all time high of 1,036,078 persons."

Markets: Technical Picture Deteriorates

And finally… Here Are 10 Reasons Not to Buy Facebook Before You Buy It Anyway

## Global Ponzi meltdown/House of Cards ##
Greeks pull funds from banks; emergency cabinet to be named

Capital Flight From Greece Accelerates, €5bn in May, Exodus Even Hits Time Deposits; Fed, ECB, BOE, BOJ Balance Sheet Comparison (Mish)

Shipping woes wipe out Maersk profits
"Woes in container shipping markets wiped out underlying first-quarter profits for Denmark's AP Møller-Maersk in the latest sign of the gravity of the problems facing the economically vital sector."

Industry capacity utilisation only 60% (Thailand)

Default Swaps in U.S. Increase as Greece Heads for New Elections
"A gauge of U.S. corporate credit risk rose for a ninth day, reversing earlier declines, as attempts to form a new government in Greece failed, clearing the way for a new round of elections."

## Airline Death Spiral ##
Singapore Airlines to halt Abu Dhabi, Athens services

As Airlines Continue to Create New Fees, What Will Happen to the 'Standard Fare'?

## Fault lines/flashpoints/powder kegs/military/war drums ##

Blogger Shines Light on U.S. Shadow War in East Africa
Pakistan agrees to reopen NATO supply route to Afghanistan, but for a fee
"The cost of the U.S.-led war effort in Afghanistan is about to rise by $365 million annually under an agreement that would reopen a key NATO supply route through Pakistan that's been closed for nearly six months."

"'India has to do a tough balancing act between Iran and America. We have to ensure that our strategic engagement with the U.S. continues.'

Many will profit if Pakistan reopens NATO supply routes
"U.S. commanders in Afghanistan want to get war supplies rolling across Pakistan's borders again. So do Pakistanis in places high and low — from officials trying to balance the nation's budget to black marketeers who stand ready to plunder the NATO-contracted trucks and oil tankers expected to shortly resume passage into Afghanistan after nearly six months of closed border crossings."

## Global unrest/mob rule/angry people/torches and pitchforks ##

Occupy Wall Street Plans 'Laugh Riot' At G8 Summit And Beyond
Anarchists threaten Italy's PM Monti
Give all police Taser guns to quell riots, Federation says (UK)

## Energy/resources ##

"Gladstone LNG hub may drain east coast gas supplies"
Is Your Bunker Fuel Guaranteed Iranian-Free?
"Western sanctions against Iran are becoming a major headache for European and other shipping companies whose vessels refuel in Singapore, as they face penalties if they use fuel that contains any Iranian oil."

U.S. to seek G8 support for oil reserve release: Kyodo
"U.S. President Barack Obama will seek support to tap emergency oil reserves from other Group of Eight leaders at a summit this weekend before the European Union's July embargo of Iranian crude, Kyodo news agency reported on Wednesday.
"The report suggests that a slide in oil prices to their lowest in months has not halted U.S. efforts to use strategic oil stockpiles to offset diminishing exports from Iran, which is facing tough new sanctions on its oil industry."

"Indonesian officials revealed additional plans to tax mineral exports from the resource-rich country, compounding worries that government policies could slow the flow of investment into one of Asia's fastest-growing economies."

## Got food? ##

"'Canada has long been seen as a land of plenty. Yet today one in 10 families with a child under six is unable to meet their daily food needs,' Olivier De Schutter, the United Nations special rapporteur on the right to food, said in a statement."

Vegetables baked by bad weather, fuel cost (India)

Syria sugar refineries paralyzed, smuggling seen soaring

## Environment/health ##
Medical Records Could Yield Answers On Fracking

## Intelligence/security/internet/systemic breakdown ##

How FBI Entrapment Is Inventing 'Terrorists' - and Letting Bad Guys Off the Hook
DNA Goes Digital with New Biometric Tracking App
Panopticon Society: The Surveillance State: Knowing Every Bit About You

## Japan ##

Blue Chips Take Another Beating On Worries About Growth, Yen
"Investors' latest bout of risk aversion has sunk Japanese blue chips even deeper amid anxiety over the outlook for the global economy and the possibility of a firming yen."

Welfare recipients hit another record
"The number of people on welfare hit another record high of 2,097,401 in February, up 5,499 from the previous month, the Health, Labor and Welfare Ministry said Wednesday."

Kansai braces for summer heat without reactors
"News that the Kansai region will be asked to cut summer power consumption by at least 15 percent and that plans are afoot for outright restrictions on electricity use, including rolling blackouts, was greeted calmly by area political leaders and residents."

Japan utilities burn record LNG equivalent for April
Japan's Growth Seen Peaking as BOJ Pressed to Stimulate
"Japan's economic growth probably peaked in the first quarter and analysts forecast the pace of expansion will halve by year-end as the boost from earthquake reconstruction fades."

The "reconstruction boost" is already faltering, even though reconstruction has gone virtually nowhere. -- RF

Tepco halts dividends, so metro buses to run red ink
"The Tokyo Metropolitan Government's bus operations, running in the black since 2003, probably lost money for the first time for fiscal 2011, and the major reason is the dividends from Tokyo Electric Power Co. shares have dried up."

## China ##

Real Estate Crash in China Underway: Foreign Funding Down 80%, Land Sales Down 57%, Starts Down 27%; Expect Chinese GDP to Plunge (Mish)
China Finds Shrinking Appetite for Loans

"Bank lending plunged in April, according to the People's Bank of China, and has remained weak in May, said bankers and borrowers. The decline is because companies are wary about borrowing when demand is uncertain and profits are evaporating."

## UK ##
Clinton Cards to close 350 stores with 2,800 job losses
Bank governor warns of eurozone crisis 'storm'

## US ##
Cheaper gas not enough to boost summer driving
Fox News Analyst: First American To Shoot Down A Domestic Spy Drone 'Will Become A Folk Hero'
That Which Is Unsustainable Will Go Away: Medicare
"Here are the sobering facts about the number of workers and those drawing Social Security, Medicare and Medicaid entitlements in the U.S. While the government claims to have a 'trust fund' to pay for Social  Security and Medicare, this is illusory propaganda. There are no funds set aside to pay these entitlements--they are 'pay as you go' programs funded by current tax revenues. If the tax revenues don't cover the programs' expenses, the Treasury sells bonds, i.e. issues debt to pay the entitlements."
Debt Weighs on A Third of Small Business Owners

## Global Ponzi meltdown/House of Cards ##
Greece on brink of collapse

World edges closer to deflationary slump as money contracts in China
"All key indicators of China's money supply are flashing warning signs. The broader measures have slumped to stagnation levels not seen since the late 1990s."

## Airline Death Spiral ##
Higher turnover, lower profits for Asia Pacific air carriers
Japan Airlines Logs Solid Profit But Sees Tough Year Ahead

## Fault lines/flashpoints/powder kegs/military/war drums ##
EU says hits pirate targets on Somali coast by air

U.S. "not impressed" with India's efforts to cut Iran oil buys: envoy
"A top U.S. energy diplomat on Tuesday said he was 'not too impressed' with India's efforts to cut its imports of oil from Western sanctions-hit Iran."

## Global unrest/mob rule/angry people/torches and pitchforks ##
Congolese mob opens fire on UN peacekeepers

Police arrest 9 'Occupy the Farm' protesters at Berkeley
"Three weeks after anti-poverty activists took over 2 acres of land belonging to the University of California at Berkeley and planted a vegetable garden for the needy, police in riot gear on Monday raided the site and arrested nine people."

Mauripur, Korangi roads blocked to protest power, water shortage (Pakistan)
"Residents of many areas of the city took to the streets on Tuesday to protest against prolonged power outages and water shortages. The protesters blocked a number of main roads, causing serious traffic jams."

## Energy/resources ##

Another Earth Needed to Meet Humans' Demand for Resources
"Humans are using resources at such a pace they need another world to meet demand for land to grow crops and forests and raise animals, WWF International said."

Spike in power demand (Korea)
"Unseasonably high temperatures have raised concerns about nationwide blackouts again this year. Demand for electricity remains high at a time when many power plants are under maintenance, reducing the power reserves to a worrisome level."
Saudi Security Tightens Around World's Biggest Crude Facility

Time to Be Honest With Ourselves About Our Looming Energy Risks

## Infrastructure scavenging ##
Cable Theft Disrupts Bulgarian Security Agency Work

## Got food? ##
UNESCAP: Populism Pushing Thai Food Prices Up By 5 Per Cent

High food prices 'rob poor of nutrition' (South Africa)

## Environment/health ##
Report: Global biodiversity down 30 percent in 40 years

## Intelligence/security/internet/systemic breakdown ##
DHS Considers Collecting DNA From Kids; DEA and US Marshals Already Do
"Documents just released by US Immigration & Customs Enforcement (ICE) in response to one of EFF's Freedom of Information Act requests show that DHS is considering collecting DNA from kids ages 14 and up—and is exploring expanding its regulations to allow collection from kids younger than that."

Talking Surveillance Cameras Coming to U.S. Streets
"Talking surveillance cameras that bark orders at passers-by and can also record conversations are heading for U.S. streets."

## Japan ##

Nikkei ends at new 3-month low on concern over debt crisis

## China ##

Screeching Halt in China; Weak Trade Data; Imports and Exports Fall Way Short of Expectations; Credit Crunch Underway; Feeble Forecasts From Pimco, Others (Mish)
China Foreign Investment Falls Again

"Foreign direct investment into China fell for the sixth straight month in April, the latest sign of trouble for the world's second-largest economy."

Chinese April oil imports register slowest growth of 2012

## UK ##

MPs warn of medicine shortages (BBC video)

David Cameron considers extra £25bn of welfare cuts

## US ##
Exclusive: Over 55 and jobless, Americans face tough hunt

## Global Ponzi meltdown/House of Cards ##
IMF to buy Gold worth $2.3 billion as credit risk increases

India Inflation Accelerates
## Airline Death Spiral ##
Frontier dropping Tucson-Denver flights

Tam Quarterly Profit Falls 22% on High Fuel Costs, Weak Demand

## Fault lines/flashpoints/powder kegs/military/war drums ##
Militants blow up Yemen gas pipeline again

Gulf Arabs to weigh closer union at Riyadh meeting
"Gulf Arabs began a summit to discuss a closer union on Monday, part of a strategy by wealthy Sunni Muslim monarchies to counter Shi'ite Muslim discontent in Bahrain and Iran's growing influence."

## Global unrest/mob rule/angry people/torches and pitchforks ##
Hundreds of Uighurs lobby China for independence
"Around 200 ethnic Uighurs from around the world gathered in Japan on Monday for a five-day meeting to press their case for independence from China."

## Energy/resources ##

S.Africa battles to keep blackouts at bay
"It is five o'clock in the evening in South Africa and the computer dials at the nerve-centre of state electricity firm Eskom are cranking towards the red as millions of people get home and turn on their heating, hot water and cookers."

Gov't approves emergency measures for electricity market (Israel)
"Ministries authorized to apply 'crisis protocols' to keep Israelis from being kicked off electricity grid due to high summer demands"
The US, China, and India Risk Severe Water Shortages
"Research by the risk analysts Maplecroft has found that three global superpowers have vast regions that are at risk of drought as an unsustainable rate of water use is outstripping supply. The US, China, and India risk negative impacts on businesses and agriculture which could undermine economic growth."

What Is Our Energy Future?
"Global energy consumption will double by mid-century, regardless of what the United States does."

How high priced oil is changing our lives (Jeff Rubin)
"Only rich people will be able to afford cars. Everyone else will be taking public transit.
"Commuters will move into Toronto leaving the suburbs to revert to their former status as farmland.
"The only provinces creating jobs will be those with oil. The poorest regions may resort to job-sharing."

Bottom line: More oil must be found, or else... -- RF

## Got food? ##
Veggie prices surge 61%, fuel 7.2% inflation in April (India)

## Environment/health ##
With Gas Boom, Pennsylvania Fears New Toxic Legacy

## Intelligence/security/internet/systemic breakdown ##
Algorithms: The Ever-Growing, All-Knowing Way Of The Future

"Homeland Security Documents Show Massive Nationwide Monitoring of Occupy Movement"
AP Finds Someone to Draw 'Evidence' Against Iran

## Japan ##
Tepco has almost $10 billion loss after Fukushima

## China ##
China's easing aimed at housing market

## UK ##
Nurses stretched to 'breaking point' as 60,000 frontline health service posts under threat, says RCN
"Overworked nurses are being stretched to 'breaking point' amid spending cuts that have placed more than 60,000 frontline jobs in the NHS at risk, it was claimed today."

## US ##
California Sinkin': Brown pushes tax hike as California's money woes deepen

Go ahead, sink your nest egg in muni bonds. But count me out. -- RF

## Global Ponzi meltdown/House of Cards ##
China Crashes in April, Shows Signs of Contraction

LightSquared on verge of bankruptcy: report

## Airline Death Spiral ##
Premium Asian carriers hit by severe crosswinds

## Fault lines/flashpoints/powder kegs/military/war drums ##
Chinese military exercises in Hainan serve as warning to Manila
Forty-nine headless corpses found in Mexico

## Global unrest/mob rule/angry people/torches and pitchforks ##

Italy mulls using army to stem political violence
"Italy is considering using the army to protect the defense conglomerate Finmeccanica and the tax collection agency Equitalia, the targets of a series of attacks that are raising concerns about political violence, the interior minister said."

## Energy/resources ##

"In the face of probable electricity blackouts at home this coming summer, Environmental Protection Minister Gilad Erdan called on the government Sunday morning to cease supplying power to the Gaza Strip."
Canada's Deal with China Could Make Uranium Boom

Pakistan crisis over power cuts (BBC video)
The difficult future facing black gold

## Infrastructure scavenging ##
CBS47 Special Report: Copper Theft (US)
"It's a major problem on the streets of Fresno: lights out because of copper wire theft.  There are some 4,000 street lights that are off, which is about ten percent all the lights in Fresno."

## Got food? ##

Now, airstrips, stadiums to double up as granary (India)

Plan for food security

## Japan ##

Firms fear summer meltdown in nuclear-free Japan

## China ##
Chinese food importers submit to takeovers as costs rise

"A food importer in Shanghai reports that the industry is mired in financial distress; numerous importers with over 15 years of history have reportedly been sold off."

## UK ##
Patients 'treated in corridors', claims Royal College of Nursing
"Patients are being left stranded on trolleys for hours and forced to have treatment in corridors due in part to the loss of hospital beds, nurses say."

## US ##
Orange County power plant generators brought back into service to help avert shortage
A Generation Hobbled by the Soaring Cost of College

Gov. Jerry Brown calls for cuts as deficit jumps
"California's budget deficit has jumped to $16 billion, forcing Gov. Jerry Brown to call for even deeper cuts in state spending when he releases his revised budget plan on Monday."

## Global Ponzi meltdown/House of Cards ##
Greece will run out of money soon, warns deputy prime minister
"Greece's deputy prime minister has said the country will run out of money in six weeks unless it honours its bitterly-disputed EU bailout deal."

World's Richest Lose $17 Billion as Slim's Fortune Drops
"The world's richest people lost a combined $17.1 billion this week as concern over JPMorgan Chase & Co. (JPM)'s $2 billion trading loss and the weakening euro pushed the Standard & Poor's (SPY) 500 Index to a two-month low."

This is heartbreaking. I shall pray for the rich tonight. -- RF

Steel market in India looses a long drawn battle
"Week 19 proved to be turning point in long product market with widespread cracks appearing across the nation. Economy and government in a logjam over acute monetary crisis and plummeting indicators can barely augur well."

Chaos, Derivatives, and Quantum Physics
"Every day the financial markets get more chaotic—a fact that couldn't be made any more clear than with a recent revelation given by ex-physicist and author, Nick Dunbar, in describing a new level of complexity facing banks and derivatives. Ironically, Thursday night's emergency conference call by JP Morgan of a massive $2 billion unavoidable loss is perhaps a confirmation of what banks are now starting to grapple with."

## Airline Death Spiral ##
American Airlines to explore merger options
## Fault lines/flashpoints/powder kegs/military/war drums ##
Putin's no-show at U.S. meeting with Obama sets a sour tone
US-Philippine alliance deepens amid China tensions

China denies preparing war over South China Sea shoal
"The defence ministry statement comes despite warnings to the Philippines that military conflict is possible over a reef known as the Scarborough Shoal."

Gulf leaders 'to discuss Bahrain-Saudi union'
"Gulf leaders will discuss a proposal for a closer political union among them that could begin with Saudi Arabia and Bahrain, the Bahraini information minister said on Saturday."

No need for trials. They only need to be suspects. -- RF

Men in Afghan Uniforms Kill 2 More NATO Soldiers
"Now almost a daily occurrence, the attack is the third of its kind this week."

## Global unrest/mob rule/angry people/torches and pitchforks ##
Thousands march against economic gloom in Spain, UK

## Energy/resources ##
Fuel Shortage of Power Generation Units (India)

Electricity, steel giants blame each other on electricity shortage (Vietnam)

Another fuel shortage to hit Freetown (Sierra Leone)

Petrol shortage hits consumers (Nepal)

Oil prices to stay high despite ample supply
"Tension between Iran and the West is likely to keep oil prices high despite a dramatic improvement in world supply and a big build in stocks, the International Energy Agency (IEA) said Friday in its monthly Oil Market Report, adding that uncertainty remained."
Why Going "Naked To The Strip" Means More Pain For Nat Gas Companies

Fuel worth USD 5 million stolen monthly from Basra
"AKnews reported that more than USD 5 million worth of fuel is stolen each month from the amount allocated to three Turkish barges that produce power in Basra, a government investigation has revealed.
"The Iraqi Electricity Ministry announced the discovery from an ongoing investigation into fuel theft. The Turkish barges were used to help compensate for the acute shortage of energy in the region."

## Got food? ##

UN backs standards securing land, food rig
"A United Nations-backed committee Friday released new guidelines to help governments protect people's rights to own or access land, fisheries and forests."
Farmer fights delivery ban on raw milk

## Intelligence/security/internet/systemic breakdown ##
US spy agency can keep mum on Google ties: court

## Japan ##
Lack of babies could mean the extinction of the Japanese people

Here we have the laughably absurd, mad ravings of the Old Guard, which believes in expanding population to make more consumers and feed infinite growth. Pay no attention to that man behind the curtain! -- RF

Japanese industry faces obstacles on road to recovery
"Looming power shortages and the prolonged sovereign debt crisis in Europe are overshadowing corporate Japan's hopes for a V-shaped earnings recovery for the current fiscal year."

Japan to avoid mandatory power saving in summer-media
"Japan will not impose mandatory restrictions on power consumption in parts of the country this summer, relying instead on voluntary saving measures following the shutting down of nuclear power reactors, the Yomiuri newspaper said on Saturday."

Power-saving to be requested for wide areas of Japan this summer
"The government is considering asking companies and households in wide areas of central and western Japan to cut electricity use by around 5 percent of the maximum demand recorded during the very hot summer of 2010, sources close to the issue said Saturday."

TEPCO to offer billing system to curb summer power use
"Facing criticism over its planned price hikes, Tokyo Electric Power Co. will offer consumers a 'peak shift plan,' which charges more for power during afternoon hours but reduces the rates at night."

Panel Approves Report That Expects 18.7% Power Shortfall In Kansai This Summer
"A panel set up by the Japanese government approved Saturday a report that predicts an up to 18.7% power shortfall this summer in the important manufacturing region around Osaka area."

Japan hikes price of solar energy

## China ##
China acts to boost loans, bolster flagging economy

Economic growth through debt expansion. We already know how this will end. And it won't be pretty. -- RF

Safety concerns bring China-Philippines tourism to grinding halt

## UK ##
Sonic weapon deployed for Olympics

Figures expose mounting crisis in care for elderly
"Britain's crisis over caring for the elderly is mounting because of a combination of rising costs and falling house prices, new research reveals."

## US ##
Chicago police prepare for NATO Summit with riot gear and sound cannon
Chesapeake wins breathing space with $3 billion loan

West Virginia coal-to-gasoline project lining up coal reserves
"TransGas Development Systems' planned coal-to-gasoline facility in Mingo County, West Virginia, is in the process of acquiring coal reserves to supply the plant, according to a project manager."

## Global Ponzi meltdown/House of Cards ##
Euro Economy to Shrink as Spain, Italy Re-Enter Recession

Container shipping firm sinks deeper into the red
"Container shipping firm Neptune Orient Lines (NOL) has posted yet another quarter of losses, as its new cost-cutting regime fails to stem the bleeding caused by high fuel costs and low freight rates."

## Airline Death Spiral ##
British Airways, Iberia losses deepen on fuel costs

AMR, creditors will explore merger option: source
## Fault lines/flashpoints/powder kegs/military/war drums ##

The Energy Wars Heat Up (Michael T. Klare)

"From the Atlantic to the Pacific, Argentina to the Philippines, here are the six areas of conflict -- all tied to energy supplies -- that have made news in just the first few months of 2012."

Ship guards trigger clashes with pirates
"The growing use of armed guards on merchant ships plying the piracy-plagued waters of the Arabian Sea and the Indian Ocean has spawned increasingly violent encounters with Somali marauders, maritime security experts say."

Power struggle in Angola amid new oil boom
"Angola, Africa's second-largest oil producer, is locked in a power struggle over who'll succeed longtime strongman Jose Eduardo dos Santos amid signs offshore exploration will open up giant fields like those found by Brazil across the Atlantic."

South American Defense Spending Doubles in 5 Years: Report

## Global unrest/mob rule/angry people/torches and pitchforks ##
Energy Crisis: Power protesters go on rampage (Pakistan)

"Thousands of protesters took out rallies, staged sit-ins, ransacked offices and residences of lawmakers and politicians, attacked WAPDA installations, damaged vehicles and clashed with police, resulting in several injuries in different parts of the province."

Polish workers "chain in" lawmakers over pensions
"Hundreds of Polish trade union members protesting against plans to raise the retirement age chained together barriers meant to keep them out of parliament on Friday, locking lawmakers in for more than an hour."

Warnings of civil unrest in Venezuela (Financial Times)
"Politicians across the spectrum in Venezuela are trading dire predictions of impending violence in the vacuum left by uncertainty about the health of President Hugo Chávez."

## Energy/resources ##
Argentina Slows Climate Action Amid Energy Supply Crisis

Iran eyes electricity export market
"The Iranian Energy Ministry said it expects to secure export contracts for electricity with the Syrian and Lebanese governments in the near future."

India finds oil drilling off Vietnam a losing proposition
"India is likely to withdraw from an oil block in the South China Sea after hydrocarbons did now show up in an exploratory well, said government sources. Officials here have conveyed to Vietnam plans to terminate operations on commercial considerations, said the sources who knew about the talks."

## Infrastructure scavenging ##
If It's Made of Metal, Thieves Aren't Picky

## Got food? ##
Super Weeds No Easy Fix For US Agriculture-Experts
"A fast-spreading plague of 'super weeds' taking over U.S. farmland will not be stopped easily, and farmers and government officials need to change existing practices if food production is to be protected, industry experts said on Thursday."

## Intelligence/security/internet/systemic breakdown ##
Students made to carry 'Orwellian' locater tags (UK)
"College staff and students have been issued with compulsory electronic badges that are capable of tracking their movements, leading to criticism of 'Orwellian' tactics."
Fear we are returning to a time in history where it is a common occurrence to fight for one's life?

## Japan ##
Panasonic logs record net loss of ¥772 billion

TEPCO officially applies to gov't to hike household electricity rates
"Tokyo Electric Power Co (TEPCO) on Friday officially applied to the government to hike household electricity rates by about 10% in July."

Many companies refusing to pay higher TEPCO rates
"About 30 percent of Tokyo Electric Power Co.'s corporate customers have been refusing to renew their contracts since electricity rates were hiked in April, sources close to the utility said."

Japan's national debt hits record 960 trillion yen

## China ##
China economy shows unexpected signs of weakness

Unexpected? -- RF

## UK ##
British Gas owner Centrica warns of higher energy bills

## US ##
Grant to boost use of food stamps at farmers markets
Informant society: Deerfield employees can earn $100 for reporting crimes

TrimTabs on Debt and Disability Claims: How Much Debt Does it Take to Generate $1 in GDP? Disability Fraud vs. Expiring Unemployment Benefits Revisited (Mish)

Well, there's the debt-driven infinite-growth economy for you. -- RF

Will the FHA require a bailout? – 12,000,000 underwater mortgages 3,000,000 are FHA insured loans. 1 million underwater mortgages originated in last two years (Dr. Housing Bubble)

## Global Ponzi meltdown/House of Cards ##

India's Central Bank Takes Action on Rupee

## Airline Death Spiral ##
Emirates airline's 2011 net profit down 72% on high fuel costs

Cathay Pacific to Cut Air Cargo Capacity

## Fault lines/flashpoints/powder kegs/military/war drums ##

"An Iranian trade delegation to India has sealed deals to buy shipments of rice, sugar and soybeans from the South Asian country, as part of a plan for Tehran to use such pacts to get around U.S. financial sanctions on its oil shipments."

Hillary must be furious. -- RF

Chinese travel agencies suspend trips to Philippines
"Chinese travel agencies have suspended tourist packages to the Philippines and promised refunds to customers who have booked trips, Chinese state media reported Thursday, as tensions over disputed islands in the South China Sea escalated."

U.S. plans 10-month warship deployment to Singapore
"The first of a new class of U.S. coastal warships will be sent to Singapore next spring for a roughly 10-month deployment, the Navy said on Wednesday, spotlighting a move that may stir China's fears of U.S. involvement in South China Sea disputes."

Egypt gets $1 bln from Saudi as ties warm
Putin flexes muscle in shunning U.S.-hosted G8 talks
"Of all the signals and symbols that shape Russian foreign policy, this one seemed particularly blunt: Vladimir Putin, in one of the first decisions of his new presidency, will shun a Group of Eight summit hosted by U.S. President Barack Obama."

## Global unrest/mob rule/angry people/torches and pitchforks ##
Nigel Farage warns of EU 'mass unrest' and 'revolution'
"UK Independence Party leader Nigel Farage has warned that some EU countries face 'mass civil unrest, possibly even revolution' as a result of austerity cause by the euro crisis."

Guinea security forces clash with protesters
"Guinea security forces used guns, tear gas and truncheons on Thursday to scatter protesters angered by the government's handling of upcoming parliamentary elections, witnesses said."

## Energy/resources ##
Nigerian Troops Capture 2 Tankers Carrying Stolen Crude

Brazil shelves plans to build new nuclear plants
"Brazil said Wednesday it has shelved plans to build new nuclear power stations in the coming years in the wake of last year's Fukushima disaster in Japan."

Saudis face growth limits over natural gas supplies
"A shortage of natural gas could affect future industrial growth in Saudi Arabia, according to the head of Jubail Industrial City, the world's largest petrochemical cluster.
"Jubail, with a current annual production capacity of 68 million tonnes, has already embarked on an expansion that will add a further 21 million tonnes, but any further expansion will bump up against limitations in available feedstock."

Solar Industry Takes Another Blow

## Got food? ##
Thomas Jefferson's Vegetable Garden: A Thing Of Beauty And Science

## Environment/health ##
Whooping cough epidemic declared in Wash. state

## Intelligence/security/internet/systemic breakdown ##
British secret agent was al-Qaeda mole who cracked new 'underpants' bomb plot

Sit back and enjoy the show as the stories get more elaborate. -- RF

FBI: Fake Underwear Bomb Plot Proves Need for Warrantless Surveillance
"The underpants were real, but the plot to blow up an airliner over the US wasn't.
"Though it turns out that the so-called bomber unveiled by the Obama Administration on the anniversary of Osama bin Laden's assassination turned out to be a CIA employee, officials still continue to try to make hay out of him being 'foiled' to their own ends."
The secret life of your cellphone
"In a threat to the 4th Amendment, law enforcement is using location data as a crime-fighting tool."

## Japan ##

We have a wave of bad news about Japan today. Indeed, it's clear that the old Japan is dying. Fortunately, a new Japan is being built, even though it does not appear in the media. -- RF

Cesium content surges up to 70% in Tokyo Bay
"Researchers measuring fallout from the Fukushima nuclear disaster say radioactive cesium deposits in Tokyo Bay have increased by up to 70 percent since last summer."

Japan central gov't debt at record 959.95 tril. yen in March
"The debt of Japan's central government reached a fresh record high of 959.95 trillion yen ($12.05 trillion) at the end of March, up 0.14 percent from three months earlier, the Finance Ministry said Thursday."

It's going to shrink much more than that, and before 2030. -- RF

Claiming that nuclear is cheaper is financial sophistry. All the backend costs of nuclear power are not included in their calculations. -- RF
After The Quake, Japanese Shop For Survival

"Walk into any large Japanese retailer nowadays, and you might think Japan had become a nation of survivalists."

Japan sees record drop in current account surplus
"Japan's current account surplus halved in the year to March, a record year-on-year fall on higher fuel costs and weak exports, and the nation's smallest surplus since the mid-1990s."

Sony reports record annual loss
"Sony Corp. racked up a record annual loss of 457 billion yen ($5.7 billion) in its fourth straight year of red ink as the once-glorious maker of the Walkman and PlayStation struggles toward a turnaround under a new president."

Now taking bets on how long this can last. -- RF

Govt's New Growth Measures Hardly Making Difference
"Just about 10% of 400 or so measures proposed under the government's new growth strategy initiative had produced results after nearly two years, according to data presented in a National Strategy Council meeting Thursday."

Because growth is dead. -- RF

Kepco to delay regular checks at 13 thermal plants
"Kansai Electric Power Co. officials revealed Tuesday that 13 of the utility's 28 thermal plants will have their regular checks postponed to keep them online this summer."

## China ##

## UK ##
Thousands of public sector workers strike over pensions

## US ##
States cut off driving privileges for unpaid tickets
Bernanke: even worthy borrowers can't get mortgages

Guns or butter: To Avoid Military Cuts, House Passes Domestic Ones
"The GOP-controlled House Thursday passed legislation to replace a looming 10 percent cut to the military budget with cuts to domestic programs like food stamps and health care."

Methinks the prince missed his calling. -- RF

## Global Ponzi meltdown/House of Cards ##
Moody's Bank Downgrades Risk Choking European Recovery
"Moody's Investors Service will this month start cutting the credit ratings of more than 100 banks, a move that risks pushing up their funding costs and forcing them to curb lending in a threat to economic growth."

Spain wants banks to find an extra $45 billion: sources
"Spain will demand banks set aside another 35 billion euros ($45 billion) against loans to builders, financial sources said, as it battles to rebuild confidence in a sector where huge losses have raised fears the country may need an international bailout."

Greece Says Goodbye to the Euro
"Greece already has left the eurozone. The formality of the paperwork is only a few months away, at most."

## Airline Death Spiral ##
Singapore Airlines Reports Surprise S$38.2 Million 4Q Net Loss

## Fault lines/flashpoints/powder kegs/military/war drums ##
Saudi says producers pumping enough to deal with Iran sanctions

Britain seeks delay to EU's Iran ship insurance ban
"Britain is seeking to persuade fellow European Union members to postpone by up to six months a ban on providing insurance for tankers carrying Iranian oil, arguing that it could lead to a damaging spike in oil prices, European diplomats said."

Hey, didn't the British get the message from KSA? -- RF

## Global unrest/mob rule/angry people/torches and pitchforks ##
Fearful nights in Damascus as unrest gets closer
China warns citizens ahead of Manila protest
"China warned its citizens in Manila to stay off the streets and take precautions during planned anti-Chinese protests on May 11, a sign of mounting tensions during a standoff in the resource-rich South China Sea."

## Energy/resources ##
Iraq oil exports rise, but problems remain
"Iraq says its oil exports rose to 2.5 million barrels per day in April, which it aims to double by 2015. But Baghdad's objective of become a top-line producer, challenging Saudi Arabia, remains in jeopardy because of political feuding and a lack of infrastructure."

Oil Drilling Firms Face Sea of Troubles in KG Basin
"Once seen as the solution to India's energy problems, the Krishna-Godavari Basin's gas reserves, and the companies that have drilled there, are in a sea of troubles with mounting uncertainty over government policy and question marks about how much gas can be extracted."

Brazil oil output falls in March for second month
"Brazilian output of oil and natural gas fell 5 percent in March from February, the second straight month-on-month decline and the lowest monthly average in seven months, Brazil's oil regulator, the ANP, said in a statement."

Valero May Sell Shuttered Aruba Refinery to China

## Got food? ##
Rising temperature to hit wheat production in India, says report

## Environment/health ##
Brazil faces its worst drought in decades (video)

## Intelligence/security/internet/systemic breakdown ##
Reports: Bomber in al Qaeda plot a secret CIA double agent

## Japan ##
Japan to take over Tepco after Fukushima disaster

And hefty rate hikes are in the offing. -- RF

## China ##

Sinopec, PetroChina Facing Processing Losses on Price Cut
"China Petroleum & Chemical Corp. and PetroChina Co., the nation's biggest oil refiners, face more losses from processing crude after the first cut in fuel prices since October."
Chinese media accidentally declares Philippines as part of China
"An anchor on China's state-run television network has accidentally declared the Philippines a part of China, in an embarrassing gaffe as tensions between the two nations run high."

## UK ##
Occupy London Tour Shows Bankers Profiting Amid Poverty

Navy 'forced to drop year-round Somalia piracy patrols'
"The Royal Navy no longer has enough warships to dedicate one to fighting piracy off the coast of Somalia all year round, it was reported."
Queen's Speech 2012: Children born today 'will work to 80' under pension reforms

## US ##
States scramble to regulate fracking
23% of U.S. families have no savings

"Despite more than a quarter of a trillion dollars in investment from 2001 to 2010 the US is still facing an enormous shortfall in electricity infrastructure."

## Global Ponzi meltdown/House of Cards ##

Turkey Exports "Massive Quantities Of Gold" to Iran and Arab Spring Countries
"Iranians and Arab Spring countries are buying 'massive quantities of gold' in order to protect their wealth from political instability and depreciating currencies."
Spain moves reluctantly to save major bank
"Spain will swoop in with public money this week to clean up huge bad loans at the nation's fourth-biggest listed bank, Bankia, the government said Monday."

## Airline Death Spiral ##

## Fault lines/flashpoints/powder kegs/military/war drums ##
U.S. working with India on Iran oil replacements: Clinton

"Earlier, India and Iran had agreed on a deal whereby India would pay about 40% of its oil imports in the for of Indian Rupee and Iran could use the currency to purchase goods and services from India.

"And now with China joining India in a similar deal with Iran, it has to be seen if other countries over the world follow suit."

C-130, Tanks Among Other Targets in Australia Budget Cuts
"Key U.S. ally Australia slashed Aus$5.5 billion ($5.57 billion) from its defense budget May 8 as part of sweeping cuts by deferring or scrapping jet and weapons deliveries and by sacking 1,000 staff."

## Global unrest/mob rule/angry people/torches and pitchforks ##
Police break up all-night anti-Putin protest

## Energy/resources ##
Japan to seek stable oil supply from Saudi Arabia

A good read and enlightening perspective on shale gas. -- RF

Massive load shedding brings life to a standstill (Pakistan)

Reserve power offered to Mindanao, but cost turns off users (Philippines)

Assam faces huge power crisis (India)

Diesel shortage hits Chennai (India)
"The city appears to be going from a bad summer to a worse summer as diesel shortage adds to the woes of homes and offices reeling under power outage."

## Got food? ##
Green shoots: The shocking hike in China's cabbage prices

## Environment/health ##
Asian tiger shrimp invade U.S. waters

## Intelligence/security/internet/systemic breakdown ##
Natural gas pipelines under cyber attack since December (US)

## Japan ##

IHI's group net profit falls 20% in fiscal 2011
"Major Japanese heavy machinery maker IHI Corp. said Tuesday its group net profit in fiscal 2011 fell 20.0 percent from the previous year to 23.82 billion yen due to a 29.4 percent drop in operating profit and tax adjustments."

Fuji Heavy logs 23.6% fall in group net profit on strong yen
Edano says electricity supply this summer 'quite severe'
"Japanese industry minister Yukio Edano said Tuesday he wants to avoid the government issuing an order to restrict electricity usage this summer, but that the nation's current situation, now without nuclear power, is 'quite severe.'"

Ministry seeks up to 20% reduction in electricity in Kansai
"The industry ministry will ask households and companies in Kansai to reduce electricity usage by 15 to 20 percent in the summer to prevent power shortages in the vulnerable region, sources said."

As I've noted before, it takes a lot to throw the Koreans and Japanese into each other's arms. -- RF

## China ##

Chinese steel market slide might coerce state into subjugation
China expels Al Jazeera correspondent; news channel closes its English bureau in Beijing
"Al Jazeera's English-language channel was forced Tuesday to shutter its bureau in China after authorities here declined to renew credentials for a journalist with a reputation for hard-hitting journalism."

## UK ##
Environment Agency head Lord Smith supports fracking expansion

## US ##
Bill Would Have Businesses Foot Cost Of Cyberwar
Army Plan To Shut Only Tank Plant Faces Fierce Resistance

## Global Ponzi meltdown/House of Cards ##
Greek Stocks Slide Most Since October 2008 After Election

POSCO looks to trim its subsidiaries for liquidity
"It is reported that Korea's steel giant POSCO is planning to sell off unhelpful subsidiaries it acquired over the last two years in order to secure more liquidity as its first quarter profits halved on year."

$27 billion slashed as share market plummets
"THE Australian share market has taken a beating, after renewed concerns over the euro zone and disappointing jobs data in the United States sent spooked investors running for the exits."

## Airline Death Spiral ##
Sky-high airfares this summer — 'people are going to be shocked'

## Fault lines/flashpoints/powder kegs/military/war drums ##
Clinton hopes India will do "even more" to cut Iran oil imports
South Africa Ignores US Sanctions and Increases Imports of Iranian Crude

Japan eyes guarantees for ships carrying Iran oil - Nikkei
"Japan is considering a new law to provide sovereign guarantees for its ships to allow them to continue importing Iranian crude oil after EU sanctions come into effect in July, the Nikkei business daily said."

Hillary won't be happy with South Africa and Japan. -- RF

U.S., Middle East Forces Wage Huge War Game
"Some 10,000 troops from the U.S., Jordan and 15 other countries in the region are preparing to launch the first-ever live-fire drill involving air, land, marine and special forces operating as a joint task force."

## Global unrest/mob rule/angry people/torches and pitchforks ##
U.N. says housing, job woes fuelling Arab unrest
"Poor urban infrastructure and high youth unemployment helped fuel the Arab Spring and governments across the region must tackle both if they are to prevent further unrest, the United Nations said in a report on Monday."

## Energy/resources ##

Israel Electric seeks mobile turbines for power plants via tender
"The Israel Electric Corp has issued a tender for the supply of mobile turbines for the production of electricity, the company said late Sunday. The tender is part of the state-owned utility's emergency plan to deal with an expected shortage of power in the peak summer months."

The turbines run on diesel fuel. -- RF
Methane Hydrate Production could Replace Fracking as Next Major Concern

"Two years ago, in mid-April, rig workers on the Deepwater Horizon in the Gulf of Mexico started introducing heat into a drilling column in order to set a cement seal at the well head. This heat may have sparked the reaction that the Energy Department described in its summary of methane hydrates."

Taiwan electricity supplier's top executive quits
"The head of Taiwan's state electricity supplier has resigned after a steep hike in utility rates prompted outrage, officials said.
"Taiwan Power Co (Taipower) has lost TW$132.2 billion ($4.48 billion) in since 2008, according to the island's economic ministry, and a 37 percent rise in electricity prices was meant to try to stem the cash outflow."

Demand for UPS, generators goes high due to heavy outages (Pakistan)

Egypt heavily in debt for natural gas
"Egypt's petroleum ministry is struggling to keep its spending under tabs. Now overspending threatens one of the most important projects in the nation: the contract for natural gas."

"Cheap gas, rather than helping power producers like Southern and Exelon Corp. (EXC) (EXC), undercuts their revenue because it drives down wholesale electricity prices, squeezing margins for plants that run on nuclear, renewable and coal power. The utilities, for many reasons, are close to their limit of shifting the mix toward gas."

## Infrastructure scavenging ##
Thieves target set of Fla. crime show "The Glades"
Copper thefts on the rise across WNY

## Got food? ##

UN Sees Risk of Unrest From Food Costs Above 10-Year Average
Fast-food prices up by 2-10% (Thailand)

## Environment/health ##
Drug-Defying Germs From India Speed Post-Antibiotic Era

## Intelligence/security/internet/systemic breakdown ##
Plot using redesigned underwear bomb thwarted: U.S. officials
## Japan ##
Radiation found outside Japanese schools
"Radiation hot spots were recorded outside 26 schools in the same prefecture as the crippled Fukushima Daiichi nuclear power plant, a civil group said Sunday."

BOJ's ETF Purchases Hit Single-Day Record
"The Bank of Japan said it bought 39.7 billion yen in exchange-traded funds through its asset-purchasing program Monday, eclipsing the previous single-day record of 28.5 billion yen marked on April 16."

## China ##

"China is deploying a factory ship and a fleet of support vessels to join its existing fishing fleet in the South China Sea amid an ongoing territorial dispute between China and neighboring countries."

## UK ##
Living in the ghost streets

"Thousands of people have been left 'utterly stranded' in desolate streets up and down the country because housing regeneration schemes have stalled. What's it like to be the only resident on a road full of empty houses?"

## US ##
Ron Paul wins majority of delegates from Maine GOP
Massachusetts Institutes Health-Care Price Controls. Is America Next?

Copyright Claims Shut Down Websites With No Proof or Due Process
"Who needs SOPA (Stop Online Piracy Act) or the international ACTA (Anti-Counterfeiting Trade Agreement) when companies can have websites or YouTube channels removed simply by claiming their content has been infringed?"

The Fraud & Theft Will Continue Until Morale Improves (Financial Sense; refreshingly outspoken)

Go figure. -- RF

## Global Ponzi meltdown/House of Cards ##
The ghost houses of Ireland: Foreclosure and eviction

"A global glut of capacity in the shipbuilding industry itself has created expectations of an industry shakeout."

France faces 40pc house price slump
"France faces a property slump of Anglo-Saxon proportions as the frothiest boom in French history finally tips over, threatening the country with an economic shock just as austerity hits."

## Airline Death Spiral ##
Virgin America Kicks Shoe Habit, But Losses Mount
Airline Passenger Traffic Continues To Be Affected By High Oil Prices

## Global unrest/mob rule/angry people/torches and pitchforks ##
Quebec government offers temporary freeze on hikes to end tuition protests
Egypt extends curfew in Cairo district for 3rd night

Salafists injure 29 German police in anti-Islam demo
"Ultra-conservative Salafist Muslims turned on police protecting anti-Islam protesters in the western German city of Bonn, injuring 29 officers, two of them seriously, police said in a statement on Sunday."

## Energy/resources ##
More on Hydraulic Fracturing (The Oil Drum)

"KSA is now reaching the point where the easy production of oil, as in sink vertical wells at kilometer intervals  and watching an average of 10 kbd merrily bubble to the surface, is now largely over. The oilfields are moving increasingly into the more advanced and costly procedures to help sustain a production that would, under earlier production regimes, have long faded into memory. Ghawar, for example, is moving into CO2 injection and some steam assist (likely with the areas with heavier, tar-ier deposits) seeking to maintain an overall 5 mbd production."

## Environment/health ##
As America's waistline expands, costs soar
## Japan ##
Nuclear-free Japan braces for summer power shortages
Japan airline seeks hike in fuel surcharge

## China ##
Chinese tropical city highlights national income disparity

## US ##
Unemployment at 8.1 percent -- If this is recovery, where are the jobs?
The Inflation's In The Poverty

From Gregor Macdonald, on the relationship between energy prices and poverty. -- RF

"The southeastern Michigan city of Milan, a 40-minute or so commute to Toledo or Detroit industrial centers, might become the new home for a 200-acre or larger "China City" that would house Chinese business people."

## Global Ponzi meltdown/House of Cards ##
Greek socialist leader Venizelos warns of 'mass poverty'

"Italian public authorities are estimated to owe around 60 billion euros to companies, so exempting debt raised to settle such bills from public debt calculations could help win much-needed breathing space to the Treasury."

## Airline Death Spiral ##
Airline Fuel Hedging Fails to Help Carriers Slow Soaring Costs

Qantas Airways Delays A380 Deliveries
"Embattled carrier Qantas Airways said Friday it will delay the delivery of two A380 super-jumbos as part of a further Aus$400 million (US$410 million) in spending cuts as it works to turn its business around."

Air Canada CEO defensive after large first-quarter loss
"Calin Rovinescu, Air Canada's chief executive, was on the defensive Friday after the country's largest carrier reported a first-quarter loss that swelled tenfold from a year ago on higher fuel prices, labour disruptions, and the costs associated with the collapse of its former maintenance unit, Aveos Fleet Performance Inc."

## Fault lines/flashpoints/powder kegs/military/war drums ##
Army imposes curfew in Cairo district after clashes

## Global unrest/mob rule/angry people/torches and pitchforks ##
11 injured, including 4 police officers, as Quebec student protest turns violent

Bahrain says home-made bomb wounds four policemen
"An improvised bomb explosion wounded four Bahraini policemen on Saturday, a police commander said, as protesters demanding the release of a rights activist who has been on hunger strike for three months clashed again with police."

## Energy/resources ##
Rosneft strikes $2.5 bn Arctic deal with Statoil

## Infrastructure scavenging ##
Thieves compromise Indonesian tsunami alert system

## Got food? ##
Free, Homemade Liquid Fertilizers

## Environment/health ##
Op-Ed: N. America's radiation threat another mainstream news blackout

## Intelligence/security/internet/systemic breakdown ##
FBI: We need wiretap-ready Web sites - now
"CNET learns the FBI is quietly pushing its plan to force surveillance backdoors on social networks, VoIP, and Web e-mail providers, and that the bureau is asking Internet companies not to oppose a law making those backdoors mandatory."

## Japan ##

Cesium pushing wild plants off menu
Thousands march as Japan switches off last nuclear reactor
"Thousands of Japanese marched to celebrate the last of this nation's 50 nuclear reactors switching off Saturday, shaking banners shaped as giant fish that have become a potent anti-nuclear symbol."

## China ##
China's urban population to grow by 10 million a year

## UK ##
Early warnings for 90,000 people facing benefits cap
"Tens of thousands of families living on benefits are to be warned in the coming days that they face losing their homes as the Government begins the process of capping payouts."

## US ##
Clothing swaps popular with shoppers
"Retailers from Gap to Urban Outfitters are already struggling to persuade shoppers to pay full-price for clothes. Now, it turns out, many of their younger customers prefer trading T-shirts, jeans and designer dresses among themselves than actually buying new gear."
Summit Could Mean Airport-Style Security On Metra Electric, South Shore Trains
"Some stations on the Metra Electric Line and South Shore Line could be shut down during the upcoming NATO summit, and passengers at other stations could face airport-style security screenings, due to the Secret Service security plan that could be released as soon as Friday afternoon."

## Global Ponzi meltdown/House of Cards ##
Data Deepen Euro-Zone Gloom

Spotlight Australia: Collapse in Service Sector; Unrelenting Discount Wars; Catastrophic Decline in Profits; Stranded Merchandise in Warehouses (Mish)

India central bank may bring back 265 tonnes of Gold stored abroad
"After Venezuela's scramble to bring back its gold reserves back into the country, sentiments in India have also been bubbling over the issue. In fact, a new litigation has been filed with the Bombay High Court in India questioning why the Reserve Bank of India (RBI) is holding 265 tonnes of gold with the Bank of England."

Brazil battles soaring import bill
"Brazil's import bill is eating into its trade surplus as the Latin American giant sees its overvalued currency discouraging exports of its own goods."
Greek businesses flee to Bulgaria
Rising resource nationalism is bullish for Gold: HSBC

## Airline Death Spiral ##

Higher fares and more mergers for airline industry, say experts

## Fault lines/flashpoints/powder kegs/military/war drums ##

Zhuhai Zhenrong Books May Fuel-Oil Shipment From Iran
"Zhuhai Zhenrong Co., the Chinese company censured by the U.S. in January for trading with Iran, provisionally hired an oil tanker to carry fuel oil from the Persian Gulf nation, shipping data showed."

Nine bodies hung from bridge in northern Mexico
"Nine bodies, some bound and blindfolded, were found hanging from a bridge over a highway in northeastern Mexico early on Friday, in an escalation of brutal attacks right on the U.S. border where rival drug gangs are fighting for control."

"The quest for energy is another area, [Panetta] said, that continues to shape and reshape the strategic environment, 'from the destabilizing consequences of resource competition to the efforts of potential adversaries to block the free flow of energy.'"

## Global unrest/mob rule/angry people/torches and pitchforks ##

Water cannons used on Egyptian protesters
Army imposes curfew in Cairo district after clashes
"Egypt's army imposed an overnight curfew around the defence ministry in Cairo on Friday after protesters clashed with troops there during demonstrations against military rule and the exclusion of candidates from the presidential election."

## Energy/resources ##
Ontario electricity rates going up

Mozambique seeks nearly 400,000 tonnes gasoil and jet
"Mozambique is seeking nearly 400,000 tonnes of middle distillates, which include gasoil and jet fuel, in the spot market due to an electricity shortage, traders said on Friday."

## Got food? ##
Obama invites African leaders to G8 food security talks

"Persisting bad weather conditions in major growing areas especially in Europe and in Kansas has been the reason to cut the production forecast for 2012-13."

## Intelligence/security/internet/systemic breakdown ##
How to Muddy Your Tracks on the Internet

## Japan ##
Japan switches off last nuclear power plant; will it cope?

83% of young people have job anxieties / More youth pessimistic about future

## UK ##
Lights could go out across UK by 2030, warns power supply report

## US ##

Payroll Disaster: Nonfarm Payroll +115,000 Establishment Survey But -169,000 Household Survey, Labor Force Drops by 342,000 (Mish)

S&P 500 Caps Worst Week in '12 on Disappointing Jobs Data
Drones patrolling Washington state border
Falling natural gas prices hit states' pocketbooks
"Energy-producing states are bracing for lower tax revenue from the plummeting price of natural gas, which is just above half of what some states forecast when they put together budgets for 2013 and beyond."

Whoops! Cheap natural gas wasn't such a good thing, after all. Hydrofracturing operators are losing money, and lower-than-expected tax revenues are pummeling already cash-strapped states. -- RF

Finance Sector Gained Only 1K Jobs In April
"The finance sector added just 1,000 jobs last month, a heavy setback from March's gain of 15,000 jobs, according to the Bureau of Labor Statistics."

## Global Ponzi meltdown/House of Cards ##
Societe Generale quarterly profits fall 20%

Comments from Brazil on Brazil and China: Nonperforming Loans Soar, Recession in Brazil Arrived, China will Follow (Mish)

East Asian nations expand, strengthen emergency program
"China, Japan, South Korea and 10 Southeast Asian countries agreed on May 3 to enlarge and strengthen their emergency liquidity program, while citing euro zone uncertainties and high oil prices as key economic risks."

Asian Steel and Aluminium sector will be hit in 2012: S&P
"Asia's metals sector is expected to come under severe profit contraction during the year, credit ratings agency Standard & Poor's (S&P) said in their latest report."

## Airline Death Spiral ##

"The brutal shake up of Europe's airline sector continued Thursday as the pain of high fuel prices, rising taxation, and slack growth caused another airline to collapse while two others warned of more cost cutting to come."

Scandinavian Airline SAS Sees Q1 Loss Widen
"Scandinavian airline group SAS blamed high jet fuel prices and the economic crisis for a nearly doubling its losses in the first quarter of the year."
Lufthansa to cut 3,500 jobs to reduce costs
Air India Owes $23.4 Million in Salaries

Airlines to post Rs 10k cr loss in FY12: Ajit Singh (India)

Smaller cities in airline squeeze (US)

Bmibaby to stop Belfast flights from 11 June (UK)

## Fault lines/flashpoints/powder kegs/military/war drums ##

Iran Embargo Impossible to Meet as Ships Need Its Oil
"Europe's oil embargo on Iran is having unforeseen consequences in the shipping market, making it almost impossible to determine if vessels are using fuel that violates the sanctions.
"Supplies from Iran are a "vital blending component" to make ship fuel, known as bunkers, according to Barclays Capital."

See? I've said repeatedly that the world cannot do without Iran's oil. -- RF
Beware the Rotten Fruit of AFRICOM Training

Egypt Brotherhood MPs in Saudi mission to ease crisis
"An Egyptian parliamentary delegation including top Muslim Brotherhood figures will head to Saudi Arabia seeking to resolve the worst in crisis in decades between states that were close allies under deposed leader Hosni Mubarak."

Britain: Germany Needs to 'Get Over WW2,' Fight in More Wars
"Speaking today in Berlin, Britain's Defense Secretary Philip Hammond said he believes Germany has a 'huge potential' for fighting massive wars on NATO's behalf, if only they'd 'get over' World War 2."

## Global unrest/mob rule/angry people/torches and pitchforks ##
Blasts in Russia's Dagestan kill four, wound three

## Energy/resources ##
Gyms to Convert Human Energy into Electricity for the Grid

This will excite lots of people, but it actually shows how desperate the situation has become. -- RF

It doesn't matter. What's important is that renewables cannot propel the industrial growth civilization. -- RF

Venezuelan confirms failures in major power plants
"El Universal reported that Mr Héctor Navarro minister of electricity of Venezuela confirmed that several Venezuelan power plants like Planta Centro, Tacoa and Termozulia thermal power units were hit by failures last week. As a result, energy service was affected particularly in peak hours."

Bihar government slams Centre over LPG shortage
"Reeling under persistent power cuts and shortage of kerosene oil, the people of Bihar are even devoid of kitchen fuel today."

So much money has been sunk into this field that Matt Simmons noted it is known as "Cash Is Gone." -- RF
OPEC's Badri says $100/b is comfortable oil price for producers, consumers

Yes, airlines can crash and economies can collapse comfortably. -- RF

IOC petrol pumps in State go dry (India)

## Infrastructure scavenging ##
Metal thieves hit Modesto High's main building
"Metal thieves hit Modesto High's main building twice last month, destroying 11 air-conditioning units and causing an estimated $70,000 in damage."

Metal thieves causing East Surrey rail passengers "misery"

## Got food? ##
The return of heritage fruit and veg varieties (UK)
"There are signs that near-extinct varieties of fruit and veg, so-called 'heritage crops' are making a comeback."

Yes, you can become a millionaire farmer (Paul B. Farrell)
Trouble is, as food gets more expensive, lots of people will just decide they don't have to pay. -- RF

## Environment/health ##
Over 30 Yangtze porpoises found dead in China as population nears extinction

## Japan ##
BOJ Facing Fresh Challenges in Convincing Markets

"Despite aggressive new steps to battle Japan's deflation, the Bank of Japan has made little impact in the markets, which are now expecting additional steps on a regular basis until the bank achieves its 1% inflation goal."

Japanese steel exports fell by 8.3pct YoY in FY 2011 - JISF
"The Japan Iron & Steel Federation said that steel exports contracted 8.3% YoY to 39.99 million tonnes in fiscal 2011, for the  first slide in three years."

## China ##
80% of Chinese public back force in South China Sea: poll

## UK ##
Smelting the Family Silver (Bloomberg video)

## US ##
Parents spread out safety net for kids in tough economy
Report warns of weather satellites' 'rapid decline'

"The number and capability of weather satellites circling the planet 'is beginning a rapid decline' and tight budgets have significantly delayed or eliminated missions to replace them, says a National Research Council analysis out Wednesday."

This is part of the general decline of space programs that I have been warning about. -- RF

The 86 million invisible unemployed
"There are far more jobless people in the United States than you might think.
"While it's true that the unemployment rate is falling, that doesn't include the millions of nonworking adults who aren't even looking for a job anymore. And hiring isn't strong enough to keep up with population growth."

## Global Ponzi meltdown/House of Cards ##
Italy's unemployment rate hits a 12-year high in March

Euro zone manufacturing downturn deepens in April: PMI
"The euro zone's manufacturing sector slipped further into decline last month as a downturn that started in the periphery appears to be taking root among core members France and Germany, a survey showed on Wednesday."

## Airline Death Spiral ##
Spirit to charge passengers $100 for carry-on baggage

Iata: Oil prices hit airlines hard

## Fault lines/flashpoints/powder kegs/military/war drums ##
Unknown attackers kill six at Cairo protest

Politicians are so full of BS that they stink even over the internet. -- RF

Explosions, shooting heard in Afghan capital
"A suicide car bomber and Taliban militants disguised in burqas attacked a compound housing hundreds of foreigners in the Afghan capital on Wednesday, officials and witnesses said. The Taliban said the attack was a response toPresident Obama's surprise visit just hours earlier."

Nigeria's graveyard of ships (gallery)

## Global unrest/mob rule/angry people/torches and pitchforks ##
In pictures: Occupy Wall Street protests

## Energy/resources ##
"Ever since last year's uprising Yemen has been plagued by attacks against its electricity network, leading to lengthy blackout and severe  disruption within its industries, as companies have had to rely on alternative means to power-up their factories or businesses, hence pushing up costs."

Test successfully pulls natural gas from Alaskan ice
"Harvesting methane hydrates remains in the research phase, though, and much more needs to be worked out before it's clear whether the process is economically feasible."

Bolivia nationalises Spanish-owned power grid
"Bolivian troops occupy installations owned by Red Eléctrica, following Argentina's move to nationalise oil company"

## Got food? ##
Iraq's sagging safety net
"In a country with huge potential oil wealth, food rationing and distribution is keeping much of the population alive."

## Environment/health ##
U.K. doctors back 'lifestyle rationing'
"A majority of doctors support measures to deny treatment to smokers and the obese, according to a survey that has sparked a row over the NHS's growing use of 'lifestyle rationing"."

## Intelligence/security/internet/systemic breakdown ##
Attack on Iran's Oil Industry Ups Cyber Warfare Stakes
NYTimes Realizes That The FBI Keeps Celebrating Breaking Up Its Own Terrorist Plots

## Japan ##
Japan could face "day of reckoning" if tax plans fail: Moody's
"Japan could face 'the day of reckoning' sooner than expected if the government fails to raise the sales tax and investors demand higher returns on government bonds, Moody's Investors Service said on Wednesday, keeping up the pressure on Tokyo to enact tax reform bills."

Power Shortages Expected in Japan
"The Japanese government expects potential electricity shortages in Tokyo as well as in the Kansai and Kyushu regions this summer as the country debates whether it can make it through the peak demand season without nuclear power for the first time since 1965."

## China ##
China Manufacturing "Expands" at Faster Pace; China Manufacturing "Contracts" 6th Consecutive Month; Confused by Conflicting Headlines? (Mish)
China's Looming Conflict Between Energy and Water
"In its quest to find new sources of energy, China is increasingly looking to its western provinces. But the nation's push to develop fossil fuel and alternative sources has so far ignored a basic fact — western China simply lacks the water resources needed to support major new energy development."

## UK ##
Rise in level of poverty among working households in NI

Argos and Homebase owner sees sharp fall in profits
"Annual profits at Home Retail Group (HRG) have dropped more than 60% after profits at its Argos chain were hit by weak demand for electrical goods."

Households may be forced to get water from standpipes in streets, warns minister
"Households may be forced to get their water from standpipes in the street if England endures another dry winter, Caroline Spelman, the Environment Secretary, has warned."

## US ##

Private-sector hiring slows in April, stirs concern
"U.S. companies hired the fewest people in seven months in April, a worrisome sign for a labor market that has struggled to gain traction and adding to concerns that the economy has lost some momentum."

The 2012 rice crop is planted!

## Global Ponzi meltdown/House of Cards ##
Bank of Spain Confirms Foreigners Dump Spanish Bonds; Spanish Banks Foolishly Load Up

Israel's jobless rate leaps as the counting changes
"Israel's move to bring its economic statistics in line with leading Western countries has led to a far bleaker picture of its jobs market, undermining claims that the country is riding through the global crisis with relative ease."

Polish steel market sinks in glut
"Steel major in their bid to gain foothold in Eastern European market have taken the plunge with price reduction in Poland by Euro 20 per tonne. Some manufacturers have pruned production significantly to align with the demand and supply from CIS mills (Russia, Ukraine)."

Record-High Gasoline Further Burdens Consumers in Europe
Shipping firms post consecutive quarterly losses (Taiwan)
"The nation's major container shipping firms continued to post quarterly losses in the first quarter on continuous weak freight rates, low demand in the first two months and rising pressure on operating costs."

## Airline Death Spiral ##
Domestic airfares hit record high in 2011 (US)

Airlines hope 'dash for gas' can shrink fuel costs

## Fault lines/flashpoints/powder kegs/military/war drums ##
China, Russia resist West's sanctions push for Sudan, S.Sudan
"China and Russia are resisting a Western push for the U.N. Security Council to threaten Sudan and South Sudan with sanctions if the two countries fail to comply with demands to halt their escalating conflict, U.N. envoys said."

IMF rejects call to cut ties with Iran
"The International Monetary Fund on Tuesday rejected a call by a US anti-Iran group for it to cut its relations with Tehran's central bank in order to adhere to US and European sanctions."

## Global unrest/mob rule/angry people/torches and pitchforks ##

Bahrain breaks up protests, faces calls to free prisoners
"Riot police firing tear gas and stun grenades routed protesters in Bahrain's capital on Tuesday as the government came under mounting international pressure to release jailed leaders of last year's uprising."

Vandals trash San Francisco neighborhood
"Vandals marched through the Mission District of San Francisco, damaging at least 30 buildings, cars and a police station, after an Occupy rally, officials said…

"'It was like the station was under siege,' a police officer said of the Mission police station, which ended the evening marred with pink and yellow paint, and its glass doors broken. At least one person was arrested.

## Energy/resources ##
Solve Water Problems Or Forget Growth, India Told

## Got food? ##
Farmers face high costs when planting crops

## Environment/health ##
Mother Nature Mugs California's Diablo Canyon Nuclear Power Plant

## Intelligence/security/internet/systemic breakdown ##
Is there a worldwide parking problem?

Yes, but people offering solutions like this ought to have their heads examined. -- RF

More white powder incidents in New York; police see Occupy link
"Three new envelopes containing suspicious white powder were sent to New York City banks and news organizations on Tuesday, along with notes suggesting the sender sympathizes with the Occupy Wall Street's Day of May 1 protests, police said."
5 arrested for allegedly trying to blow up Ohio bridge
"The public was never in danger from the explosive devices, which were inoperable and controlled by an undercover FBI employee, according to sources close to the investigation."

Oh, brother! -- RF

## Japan ##
Cesium exceeding new limit detected in 51 food items in nine prefectures

## UK ##
U.K. Factory Index Falls More Than Forecast on Export Slump

## US ##
Homeownership rate drops to 15-year low

Well, so much for Dubya's "ownership society." -- RF
Social Security is a Ponzi scheme (Fox News)

Yes, but pension programs are just a subset of the infinite-growth economy, which itself is structurally the same as a Ponzi scheme. -- RF

Pensions: Reduced today, gone tomorrow. -- RF

## Global Ponzi meltdown/House of Cards ##

Reinharts, Rogoff See Huge Output Losses From High Debt
"The U.S. and other developed economies with high public debt potentially face 'massive' losses of output lasting more than a decade, even if their interest rates remain low, according to new research by economists Carmen and Vincent Reinhart and Kenneth Rogoff."

Europe's Anti-Austerity Calls Mount as Elections Near
ILO warns global employment situation is 'alarming'
"The International Labour Organization (ILO) has warned that the global employment situation is 'alarming' and unlikely to improve soon."

Italy Faces 20 Billion-Euro Gap, Tremonti Tells Corriere
Monday Market Monitor - India - WEEK 17 - Down trend continues
"The prices of both long and flat steel products in Indian domestic market continued their downward journey for the third consecutive week reflecting serious issues on demand side."

Spain's Central Bank consults experts on toxic assets: sources
"Spain's Central Bank is consulting with international bankers and property experts on setting up a holding company to value and sell off toxic real estate assets from the country's troubled financial sector, two sources said on Monday."

Irish debt peak higher after 2012, 2013 growth cut
"Ireland's government debt will peak a percentage point higher than previously expected next year after Dublin cut its growth forecasts for 2012 on Friday and also trimmed its outlook for next year."

## Airline Death Spiral ##
Delta to Buy ConocoPhillips Refinery for $180 Million

Taiwan's China Airlines 1Q Net Loss Widens To NT$940.3 Million

## Fault lines/flashpoints/powder kegs/military/war drums ##

"China is considering sovereign guarantees for its ships to enable the world's second-biggest oil consumer to continue importing Iranian crude after new EU sanctions come into effect in July, the head of China's shipowners' association said."

Iran weighs nuclear work ahead of embargo
"Iran is studying a proposal offered by Russia to halt some nuclear activity in exchange for protection from European sanctions, an envoy said."
Greece opens detention camp for immigrants as election looms

Could domestic flak shoot down Netanyahu over Iran?
"He may be ready to brave Iranian air defenses, retaliatory missiles and Western diplomatic blowback in tackling Tehran's nuclear program, but Israeli Prime Minister Benjamin Netanyahu will find it hard to fly past flak from his own senior staff."

Philippines Appeals for U.S. Help in Building Armed Forces
"The Philippines, lamenting the poor state of its armed forces, appealed April 30 for U.S. and international help in building a "minimum credible defense" amid an escalating territorial dispute with China."

## Global unrest/mob rule/angry people/torches and pitchforks ##
Europe: The Dangers of Spring
"May arrives and with it perhaps a European Spring. For the eurozone, however, it promises a month of turbulence."

## Energy/resources ##
U.S. Nuclear Industry Must Find Vast Supplies of Uranium before Next Year

"There are still 435 reactors in operation worldwide today that require 175 million pounds of uranium per year. However, current production rates are facing a deficit of about 40 million pounds."

LDK Solar Cuts 5,554 Workers Amid Clean-Energy Shakeout
"LDK Solar Co. (LDK), the world's second- largest maker of wafers, cut 5,554 workers this year after plunging prices cut margins to record lows amid a shakeout that's claimed thousands of renewable-energy jobs."

"Front-month gas futures hit a 10-yr low of $1.902 per mmBtu late last week, a level that curtailed producer profits and made most dry Nat Gas drilling uneconomic."

Mills may face shortage of cotton (India)

## Infrastructure scavenging ##
Czech metal thieves dismantle 10-ton bridge
"Metal thieves in the Czech Republic dismantled an entire 10-ton bridge and more than 650ft of track."

## Got food? ##
Global Wheat prices for 2012-13 to move up on bad weather in Europe
Power shortage leads to rise in vegetable prices in Kochi (India)

## Environment/health ##
Plastic Seas
"The problem of plastic waste in the world's oceans may be much worse than previously thought—and the picture already looked grim."

Number of painkiller-addicted newborns soars (US)

## Intelligence/security/internet/systemic breakdown ##
White House keeping the lid on bin Laden images one year after raid

## Japan ##

Thyroid nodules rate in Fukushima is 20 time higher than in Chernobyl
Noda: Japan to boost Asia-Pacific defense
"Tokyo will increase its Asia-Pacific military defense role, Japan's prime minister said before meeting with President Barack Obama at the White House Monday."
107 municipalities have never conducted bridge inspections: Mainichi survey
"Over 100 local municipalities across Japan have never inspected the bridges in their jurisdictions, with a majority of them citing financial difficulties, a Mainichi survey has revealed."

## China ##

## UK ##
Must spend money on crumbling care system, charities warn

## US ##
Local Residents Barter for Food
America Needs A Ron Paul-Gary Johnson Presidential Ticket (Forbes)

Navy Plan For California Blackouts Nears Completion
"The U.S. Navy is nearing a first-time agreement to curb electricity use at its sprawling San Diego-area bases if power runs short in Southern California this summer, a deal intended to diminish the threat of blackouts while the troubled San Onofre nuclear plant remains offline."