Wednesday, 18 July 2012 16:16

China's Biggest Companies Warn Of Profit Plunges Up To 80%; Suicide Bombing Kills Syrian Defense Minister and Assad Brother In Law

 

 

Rice Farmer - Evening Edition

Global Ponzi meltdown/House of Cards

Europe Profit Estimates Cut Most Since ’09

Dire Signs for Spanish Economy

Bank of Italy sees GDP contraction of 2% this year

Construction spending in Europe slumps

Intel warns slowing economy will dent next quarter income

Pick Your Debt Poison

Ford Australia Axes Up To 440 Jobs As Cuts Production

Production pruning - Belgium, France and Luxembourg to act against ArcelorMittal shut down spree

Human Corpses Are Prize In Global Drive For Profits

South Korea Extends Interest Rate Probe to Banks

"South Korea's anti-trust agency expanded its probe of interest rates on certificates of deposit to banks, an investigation that analysts said is targeted at easing the nation's heavy household debt burden."

Singapore Investigates Rate-Setting on Sibor

Goldman Sachs developing in-house private bank

"Goldman Sachs said Tuesday it is developing its private bank for wealthy clients, particularly in fast-growing countries and in Europe, where it hopes to pick up the slack from struggling local banks."

11 International Agreements That Are Nails In The Coffin Of The Petrodollar

"China Rebalancing Has Begun"; What are the Global Implications?

Massive credit risks building in emerging markets

GM heads roll in Europe

The Growing Pressures Likely to Blow the Eurozone Apart
 

Airline Death Spiral

Asia-Pacific outshines Europe, US in air travel demand

John Menzies curbs UK freight operations

Fewer flights and fewer available seats at Huntsville International Airport with AirTran's departure

At Regional U.S. Airports, Terminals Turn Quiet


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

Taliban bomb destroys 22 NATO supply trucks in Afghan north

U.S. can defeat any Iranian effort to block oil shipping: Panetta

Indian crew says US ship fired without warning

US proposes new trade deal with East Africa bloc

China aims to rewrite perceptions on Africa investment

US to Build New Missile Defense System in Qatar

Missile shield may spark China nuclear upgrade: officer

"China may need to modernize its nuclear arsenal to respond to the destabilizing effect of a planned U.S.-backed missile defense system, a senior Chinese military officer said on Wednesday."

Israel blames Iran for Bulgaria bus bombing that killed 6

"Israeli officials blamed Iran and vowed to retaliate for an explosion Wednesday aboard a bus carrying young Israeli tourists in Bulgaria that killed at least six and wounded many others."

Families sue U.S. over drone killings of Americans in Yemen

U.S. missing out on Arctic land grab

 

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

Maruti Suzuki shuts factory in India after management attacked

"Maruti Suzuki, India’s largest car manufacturer, stopped production at one of its factories on Wednesday after workers attacked managers at the plant and set fire to company property, the automaker said."

Huge changes occurring in protest techniques in Japan

Some aldermen want police strike forces back -- would they jibe with new city-hired gang prevention group?

Egypt protesters try to storm Syrian Embassy in Cairo


Energy/resources

Strike Puts Lebanon at Risk of Blackout, Hayek Tells Daily Star

Flight delays after Brisbane airport blackout

Melbourne Airport hit by power blackout

Rush-Hour Power Outage Snarls Dallas Traffic

Petrobras reports power outage at Texas refinery

Burundi Faces 8-Megawatt Power Deficit After Rainfall Shortage

A "Shocking" Shut-in Scenario for Canadian Natural Gas

BHP's Deep Hole

"Solid yearly production figures weren't enough to halt a further sell-down Wednesday in BHP Billiton Ltd. shares—to their lowest point in more than three years—as investors continue to worry about falling commodity prices."

Tanker Charters Seen at 17-Month Low as China Demand Slides

Quetta power blackout enters 10th hour

 

Got food?

Corn Seen Rallying to Record $8.50 as Drought Kills Crops

Australia aims to become Asia's food bowl

Australia Poised for Dry Weather as Heat Bakes U.S. Wheat

"Australia, the second-biggest wheat exporter, is set to be drier-than-normal in the next three months, curbing grain production just as the worst drought in a generation parches fields across the U.S., the largest shipper."

Drought expected to drive up cost of milk, cheese


Environment/health

Greenland glacier loses large mass of ice

Geoengineers to release planet-cooling gas into New Mexico atmosphere

Cambodia Shuts Schools to Fight Spread of Virus


Intelligence/security/internet

Hacked: 10 Targets Other Than Your PC

YouTube Adds Face Blurring for Protesters, Worried Parents


Systemic breakdown

What's Happening on Pakistan's Main Street?



Japan

Nearly 2,500 taken to hospital for heatstroke in week to July 15

Workers remove 2 nuclear fuel rods from Fukushima reactor

Small appliance retail chains sinking / Realignment of industry expected as competition may wipe out all but large firms

3 more DPJ members to quit as nuclear power issue fractures party further

Tokyo gov't to apply soon for landing on Senkaku islands

"The Tokyo metropolitan government will soon seek permission from the national government to send a party to the disputed Senkaku Islands, parts of which the local authority plans to buy from the Japanese owner, a senior Tokyo official said Wednesday."

EC proposes economic partnership deal with Japan
 

China

Biggest electronic components market in China becoming deserted

"Three years ago, it would have been hard to believe that any shop in the Huaqiangbei district in Shenzhen would shut down because of a lull in business. Today, the area is littered with empty shops, reports the Economic Observer, a weekly in Beijing."

Chinese companies see profits plunge amid slowdown

Yunnan's endless drought


UK

BOE sees weaker growth



US

City of Compton may declare bankruptcy by September: officials

"The City of Compton, a city of 93,000 people located on the outskirts of Los Angeles, must decide by September 1 whether to seek bankruptcy, according to its two most senior financial officials."

The party is just getting started, with many more, and bigger, municipal bankruptcies to come. Watch those muni bonds turn into toilet paper. -- RF

Muni Bond Liquidity Set To Shift From Feast To Famine In August

Gloomy Forecast for States, Even if Economy Rebounds

"The fiscal crisis for states will persist long after the economy rebounds as they confront rising health care costs, underfunded pensions, ignored infrastructure needs, eroding revenues and expected federal budget cuts, according to a report issued here Tuesday by a task force of respected budget experts."

The Hopelessness of State Finances

Midwest power demand seen breaking record
Sen. Sanders warns of ‘frightening trend’ towards oligarchy

BofA plans $3 billion of new cost cuts

Bernanke slams Ron Paul's Fed audit bill

Drought hits Mississippi barge companies

Drought Brings Misery To Arkansas River Basin

Drought Disasters Declared In More Counties; 1,297 Affected So Far

Americans Joining Disability Now Outpacing Americans Finding Jobs

IBM sales fall, dragged down by Europe


Jenna Orkin - Morning Edition

Headlines

World Energy Consumption Facts, Figures, and Shockers

"Coal consumption in the [Asia Pacific region — dominated by China and India] has increased by more than an order of magnitude since 1965, and is currently more than triple the coal consumption of the EU and U.S. combined."

Corn Seen Surging to Record $8.50 as Worst Drought Since ’88 Shrivels Crop

CollapseNet has been recommending a long-term food supply since we launched. The wisdom of that action is coming more into focus every day. The long-term stored food supplies I have acquired over the last few years have been the most comforting insurance for my family that I own. Imagine 2 years like this in a row? Or 3 years? Or more...climate change is a very big game changer, and very unpredictable other than "bad". Prepare, prepare, prepare.  - Wes 

Citi, Bank Of America, And JPMorgan Enter Lieborgate: Congress Expands Libor Probe To Big Three Domestic Banks

"When the Fed released its "trove" of materials confirming that the Fed indeed knew that the Barclays was manipulating its Libor submissions (amusingly explained by Ben Bernanke before Senate today that "the employee had no idea what Libor is in that case"), few were surprised, but more were confused why the congressional inquiry focused solely on the Fed's interactions with British Barclays, instead of focusing on the three domestic banks that were part of the BBA's USD Libor fixing committee. And only three US banks."

So who is going to hold the Fed fuckers accountable? It's only the biggest heist in history, both in terms of money taken and the number of people stolen from, with apparent collusion and consent of the "regulators". Answer: they won't be. Too Big To Jail. - Wes

Sicily Is San Bernardino: With First Italian Region On Verge Of Default, Montius Pilate Washes His Hands

"Italian Prime Minister Mario Monti said on Tuesday he expected the governor of Sicily to resign following a growing financial crisis that has pushed the autonomous region close to default." 

China's Biggest Companies Warn Of Profit Plunges Up To 80%

"The woes facing even politically favored companies that benefit from monopolies, low-cost bank loans and other government aid highlight the challenges for the authoritarian country's leaders who are trying to pull China out of its deepest slowdown since the 2008 crisis."

Millions Of Mysterious Tiny Purple Creatures Invade A Hawaii Beach

Tiny purple people eaters? Nah, just misplaced/dislocated crab babies. - Wes

... And Now The Meat Producers Are Going Down

"The next shoe is dropping in the drought crisis.
Higher corn prices are crushing the companies that make chicken, eggs, and other meats."

Food prices in every category are going to soar this winter. Get ready. - Wes

Here's All You Need To Know About China's Fragile $2.2 Trillion Shadow Banking System

"If economic growth in China continues to slow, rising and sudden defaults on loans made in the country's shadow banking system could threaten to bring down China's traditional banking sector and throw the world's third-largest economy in jeopardy, according to Bank of America Merrill Lynch China Strategist David Cui."

Suicide Bombing Kills Syrian Defense Minister and Assad Brother In Law

This might be over sooner than anyone expected. Assad's regime is crumbling around him.  - Wes

NSA Whistleblower Says The Feds Are Gathering Data On Nearly Every US Citizen

"After 9/11 all safeguards went out the window as "the individual liberties preserved in the U.S. Constitution were no longer a consideration." Members of his Thin Thread team began implementing a program called the President's Surveillance Program (PSP), which collected domestic electronic communications traffic without any privacy protections."

Like I said, the Fascists won and 911 allowed them to codify their control. - Wes

CONFIRMED: The Spanish Are Leaving Their Country In Droves

"Many of those leaving are likely to be moving for economic reasons, perhaps to look for work — Spain's youth unemployment rate is at 51%. As EU members Spanish emigres would have the right to work in a lot of places, though there is anecdotal evidence that many Europeans are using sham marriages to escape further."

 

Economy

EL-ERIAN: The Risk Of Collateral Damage And Unintended Consequences Caused By The Fed Is Material And Growing

"El-Erian notes that "the Fed has no choice but to consider another mix of unconventional measures – specifically, additional purchases of securities, a lower interest rate on excess reserves, an even more aggressive communication policy, and enhanced access to the discount window."

However, he thinks that even these moves may prove ineffective.  Even worse, the actions could prove harmful..."

Record Rainfall Hits U.K. Economy Hard

Human Corpses Are Prize In Global Drive For Profits

Corn Prices Headed for Record Highs as Crop Shrinks

FedEx's $1 Billion Post Office Contract at Risk

China's Rate Cuts Fall Flat as Small Firms Bypass Banks

Wages Can't Keep Up With Inflation

Student Debtors Find Forgiveness in Move to Small Towns

"State and local governments are joining some private and nonprofit companies in capitalizing on graduates’ concerns in a sluggish economy about repaying their student debt to attract new residents, talent and consumer dollars. Outstanding loans total about $1 trillion, topping U.S. credit-card debt. In Kansas, the perk has attracted 411 applicants representing 33 states, according to Chris Harris, who manages the program for the state Commerce Department in Topeka.

“We were trying to address a loss of young population,” Harris said. People drawn to the state through the program will reinvigorate local economies by bringing families with them and buying houses, he said."

Roll Call of Unscrupulous Bankers Is Unacceptably Long

Critique of scandal is unacceptably lame. - JO

Finland Enters The NIRP Club As Germany Sells 2 Year Subzero Debt For The First Time

Muni Bond Liquidity Set To Shift From Feast To Famine In August

Coming To Terms With A Borderless World Economy

The most financially attractive country (from the point of view of businesses) is the one with the least regulation.  Thus have the wheels come off the vehicle of global trade. - JO

ZIRP Strikes Again: Pension Under-Funding For S&P 500 Companies Hits Record

Are 401(k) Loan Defaults Set To Resurge?

Canadians Are Richer Than Americans For The First Time Ever, Thanks To Socialism


 

Energy/Resources

Milk crisis turns sour as dairy farmers reveal plans to blockade supermarkets

Fukushima comes out to play

"After more than a year away, swimmers in Fukushima prefecture were allowed to return to the sea this week for the first time since disaster struck at the Japanese nuclear plant.

All of Fukushima's 17 beaches were closed last year to protect the public from radiation contamination. A massive earthquake and tsunami in March 2011 wrecked the Fukushima Daiichi nuclear plant, triggering meltdowns that contaminated food and water and forced mass evacuations."

The only place worse than the Gulf Coast to go swimming. No thanks. - Wes

Good Dirt Gone Dry Wilting Corn Crop as Food Costs Rally  

Climate Change teams up with petrochemical saturation of the earth for some serious mayhem. - JO

Missouri Farmer Shows Us The 'Unheard Of' Devastation To His Crop


 

Military/Intelligence

Syrian Rebels Use YouTube, Facebook for Weapons Training

Cheney Joins Lockheed to Fight Defense Cuts

War remains the most profitable business. A warmonger's work is never done. - Wes

A Look Inside The Newly Revamped Guantánamo Bay Detention Facility


 

Civil Unrest/Politics 

US refuses to help Syrian rebels until after election - Telegraph

Does that mean a war is only temporarily on hold?  Or is the article intended to goad Obama into action? - Per Fagereng

Chuck Schumer To CTRL-P "Get To Work Mr. Chairman"... For The Benefit Of My Donors

 

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