Thursday, July 5, 2012

Breaking News Thurs. July 5, 2012

Hooray for the Champ!

They say Ali has built a legacy as a "fighter for religious and civil rights, a conscientious objector who took his battle to the Supreme Court and won, an ambassador for peace and justice worldwide, and a tireless humanitarian and philanthropist."
The Liberty Medal was first given in 1989. Previous recipients include rock singer and human rights activist Bono, former South African President Nelson Mandela and former President Jimmy Carter. Six winners have subsequently received the Nobel Peace Prize.

Also, the sun is in the news today.

High Solar Activity Produces CMEs, Radio Bursts

Space Weather News for July 5, 2012

HIGH SOLAR ACTIVITY: Sunspot AR1515 has grown into a behemoth more than 10 times wider than Earth. The active region is crackling with M-class solar flares and seems poised to produce even stronger X-flares in the days ahead.  At least one CME is en route to Earth, and ham radio operators are reporting shortwave solar radio bursts roaring from the loudspeakers of their receivers.  Stay tuned to for more information and updates.

This from RJ. Good stuff.
Hot Air Day is upon us. On July 4 hot air will spew forth all over the country as dignitaries deliver homilies to our “freedom and democracy” and praise “our brave troops” who are protecting our freedom by “killing them over there before they come over here.” Not a single one of these speeches will contain one word of truth. No speaker will lament the death of the US Constitution or urge his audience to action to restore the only document that protects their liberty. No speaker will acknowledge that in the 21st century the Bush/Obama Regime, with the complicity of the Department of Justice, federal courts, Congress, presstitute media, law schools, bar associations, and an insouciant public have murdered the Constitution in the name of the “war on terror.”

Be sure to stop by and visit our friends, RJ at the Global Glass Onion and the Ozarker at Conflicted Doomer , and Doug at 3Es News and David at ETF Daily, and support their work.

Peak Oil and Energy News
CommodityOnline: Sanctions hit Iran finds another huge Oil reserves - Sanctions hit Iran announced finding a huge oil discovery that contains approximately 6 billion barrels of recoverable oil reserves.

Time: Why Vladimir Putin Needs Higher Oil Prices - Falling oil prices make just about everyone happy. But Vladimir Putin is not one of them. The economy that the Russian President has built not only runs on oil, but runs on oil priced extremely high. Falling oil prices means rising problems for Russia – both for the strength of its economic performance, and possibly, the strength of Putin himself.

CreditWritedowns: The Race for Energy Resources 
Reuters: France slaps 550 mln euro tax on oil sector
ETFDaily: Inside Natural Gas and Ultra-Popular U.S. Natural Gas Fund’s Wild Q2 (NYSEARCA:UNG)

Global Conflict
NYT: British Police Arrest 6 in Suspected Terror Plot
NewsDay: Iran threatens swift retaliation on US bases

Reuters: Syrian general defects to Turkey, website says 
WSJ: Palestinian Leader Approves Arafat Autopsy

NYT: Downed Turkish Plane and Dead Pilots Found With Aid of Titanic Explorer
Guardian: M6 coach evacuation 'not terror-related'
Police report no suspects in toll road closure in West Midlands after Megabus passenger seen pouring hot water into bag

Reuters: Sanctions cut Iran's July oil exports to nearly half
Haaretz: Tunisia requests Arab League meeting over suspicions Arafat murdered

Guardian: Israeli reporter who exposed military secrets avoids jail 
Counterpunch: No Shelter 
Afghanistan president Hamid Karzai said recently that he had had an argument with Gen. John Allen, the top US commander in Afghanistan, about the issue of American drone attacks in Afghanistan, following yet another deadly airstrike that killed a number of civilians. Karzai asked Allen an eminently reasonable question: “Do you do this in the United States?” The Afghan president added: “There is police action every day in the United States in various localities. They don’t call an airplane to bomb the place.”
Reuters: Iran says can destroy U.S. bases "minutes after attack"
BBC: Kenya cancels Iran oil imports over sanctions threat 

Guardian: Afghanistan: how the US army battled it out with the British
In this extract from his latest book, Little America, Rajiv Chandrasekaran exposes the ways in which the supposed allies were at loggerheads when it came to strategy in Afghanistan
McClatchy: Facing diplomatic isolation, Syria’s Assad says he’s willing to step aside
NYT: Oil Embargo Leads Iran to Disguise Tankers 

CSMonitor: Just a 'sorry'? Pakistanis question NATO supply line deal.
VOA: UN Monitor Chief in Syria Says Violence 'Unprecedented'

TheNation: National Occupy Gathering Kicks Off in Philadelphia
NYPD brands Occupy Wall Street couple as professional agitators and plaster their photos on flyers - Christina Gonzalez and Matthew Swaye say they've been singled out for posting YouTube videos of police conducting stop-and-frisks

Hacker/Wikileaks News
Guardian: Evidence of a US judicial vendetta against WikiLeaks activists mounts
LAT: WikiLeaks has data from 2.4 million Syrian emails
Guardian: WikiLeaks publishes Syria emails - live updates

Domestic Financial News
Marketplace: Scant detail in big banks' 'living wills' - (video & transcript) The so-called "living wills" of the nine largest U.S. banks are now available for viewing. Filed this week, the documents are supposed to prevent another "too big to fail" scenario -- they tell regulators what the banks plan to do in the event they become insolvent. But very few details of the plans were publicly disclosed. So will the wills do their job?

RitHoltz: The Big Losers in the Libor Rate Manipulation - We know that the big banks conspired to manipulate Libor rates, with the approval of government authorities. We know that the Libor manipulation effected the world’s largest market – interest rate derivatives. But who are the biggest victims?

Time: U.S. Jobless Aid Applications Fall to 6-Week Low
TechReview: Automate or Perish

Bloomberg: Wall Street Bank Investors In Dark On Libor Liability -- Barclays investors, blindsided by the bank’s $451.4 million regulatory fine for trying to rig benchmark rates, saw the stock drop 16 percent a day later. Other bank shareholders may be just as surprised.

VanityFair: Microsoft’s Downfall: Inside the Executive E-mails and Cannibalistic Culture That Felled a Tech Giant
FT: Enough is enough of the age of consumption   

Reuters: Hopeful signs emerge for struggling jobs market
WashingtonPost: US to pursue trade complaint against China over autos

ProPublica: Big Foreclosure Compensation, But Only for the Right - Can you put a price on the damage caused by a wrongful foreclosure? Banking regulators have. And it’s $125,000. Or $60,000. Or $15,000. Or… it’s unclear.

Zerohedge: ADP Says Better Than Expected 176K Private Jobs Added, Of Which Only 4,000 Manufactuing Jobs
CNNMoney: Opinion: End Wall Street's welfare hypocrisy
FiscalTimes: Housing Crisis Could End Suburbia As We Know It
If there’s a defining image of the housing crunch, it might be the demolition of four brand-new luxury homes in Victorville, Calif. The developer built them in September 2007 as part of a planned 16-unit project, but abandoned the effort after home prices in the area fell more than 50 percent in 18 months.

BusinessInsider: Ben Bernanke Is Bankrupting The Social Security Trust Fund
BottomLine: Auto industry the silver lining in gloomy economy
MyBudget360: The great deleveraging – US households see access to debt diminish. Housing affordability and reversion to the home price to family income ratio.

Global Financial News
BusinessInsider: The Euro Is Plunging After Huge ECB Decision

Reuters: European Central Bank cuts rates to new low to aid flagging economy
MSNBC: Europe's tallest tower: 'Iceberg' or titanic $2.35B folly?

FT: Wealthy hit hardest as France raises taxes - France’s socialist government announced a big one-off increase in wealth taxes on Wednesday, by far the biggest single element in a €7.2bn package of new levies aimed at meeting this year’s budget deficit target that also included surcharges on banks and energy companies.

NakedCapitalism: Europe’s Crisis is Re-Emerging
YanisVaroufakis: The Latin Troika’s Coup: what is left of the joy it generated a week later 

EpicureanDealmaker: Ready, Fire, Aim - The news out of Old Blighty this morning that Bob Diamond, CEO of Barclays, has resigned under pressure seems to indicate the ongoing LIBOR fixing scandal is finally gaining enough momentum to fly off the rails. The current rumblings are that Mervyn King, Governor of the Bank of England, wiggled his stately eyebrows disapprovingly and conveyed, with the minimum regulatory fuss, that, yes, indeed, he would be exceedingly obliged if the presumptuous Mr. Diamond were encouraged to remove himself forthwith to a less embarrassing locale. Like, say, Inner Mongolia.

Reuters: ECB cuts rates to new low, no move on bolder measures
Macrobuisness: The LIBOR scandal will expose more naked bankers

WSJ: The Shard of London
Cryptogon: The Bank of England Told Us To Do It, Claims Barclays 
CNNMoney: China moves to jumpstart economy 

Dealbook: Barclays’ Ex-Chief Spreads the Blame in Rate-Rigging ScandalSoberLook: It may take more than stimulus to arrest Brazil's slowdown

Spiegel: 'No Measurable Effect': ECB Interest Rate Cut Inspires Little Hope

CommodityOnline: Investors prefer equities to Gold on poor monsoon 
Reuters: Gold falls after ECB cut, dollar rise
Telegraph: China 'stockpiling rare earths for strategic reserves'
China has started stockpiling rare earths for strategic reserves, a state-backed newspaper said, in a move which may raise more worries over Beijing's control of the coveted resources.
FinancialSense: John Embry on Gold, Silver, Currencies and Commodities

M 2.7, 9km SSW of Jobos, Puerto Rico
M 3.2, 81km N of Brenas, Puerto Rico

Communities in Fayette County, WV, have asked for help during the state of emergency declared during the extended power outage from last week’s storms. Fayette is still 90% without electricity, food, and water. The national guard has been dispatched, but has not reached many of these communities from what we are hearing.

ChicagoTribune: O'Hare ties heat record; Skilling says we could see 3 straight 100s
NewsDay: Many Americans have throwback Fourth without power

CNN: South Korea says it may resume whaling, angering environment groups
Guardian: Scientists say ongoing weather extremes offer proof of climate change - Record-shattering heatwaves, wildfires and freak storms are a sampling of what is to come in 2012 and a window to the future

Wit'sEnd: the Wasteland 
here's the video mentioned in the article, it is a MUST see video IMHO

SkepticalScience: The GLOBAL global warming signal
CNN: Devastating India floods leave 95 dead, millions homeless 
NYT: A Carbon Tax, Sensible for All - ON Sunday, the best climate policy in the world got even better: British Columbia’s carbon tax — a tax on the carbon content of all fossil fuels burned in the province — increased from $25 to $30 per metric ton of carbon dioxide, making it more expensive to pollute.

BBC: Japan nuclear crisis ‘man-made’ -- The crisis at the Fukushima nuclear plant was "a profoundly man-made disaster", a Japanese parliamentary panel has said in a report. The disaster "could and should have been foreseen and prevented" and its effects "mitigated by a more effective human response", it said.

Rawstory: Zookeepers try to curb Indonesian orangutan’s smoking habit
Guardian: China's controversial Three Gorges dam completed - The final turbine of China's massive Three Gorges dam has been connected to the power grid, marking the completion of a controversial hydropower project that cost the country more than £38bn and displaced at least 1.3 million people.

MotherJones: "Jet Li" Loves Coal Ash: A Case of Astroturfing?
Either there are a lot of people of Chinese heritage that love coal ash in Colorado, or something is up with the White House's citizen-led petition page. Add to this the fact that these Chinese Americans have names that would translate as "Small Steamed Bun," "Big Steamed Bun," and "Most Handsome Guy," and things start to look really weird.
DesertNews: Drought starting to get stranglehold on Utah
9News: Colorado corn crop dying in the fields

MSNBC: Fears of new Dust Bowl as heat, drought shrivel corn in Midwest
'Every day that passes, more corn will be abandoned ... But even if it starts raining now, there will not be that bumper crop of corn everyone talked about,' farmer says
UPI: Drought persists across U.S. Corn Belt 

TheScientist: War-born Climate Change - A nuclear war could have profound effects on crops yields around the world, according to a new study.

America in Decline
Newsday: Countryside wooed Congress with discounts, report says - WASHINGTON - The former Countrywide Financial Corp., whose subprime loans helped start the nation's foreclosure crisis, made hundreds of discount loans to buy influence with members of Congress, congressional staff, top government officials and executives of troubled mortgage giant Fannie Mae, according to a House report. South Florida lifeguard fired after saving man - Lopez was told he was fired because he left his zone and saved someone outside the buoys in a part of the beach his company is not paid to protect. Both Lopez and Janko are 21 years old and have been lifeguards for less than a year. They said they knew the rules but could not imagine leaving someone to drown when their job is to save lives. The now unemployed lifeguards said Monday's incident was the first time they were forced to decide between following the rule about the assigned zones or attempting to save a life.
DailyCensored: TPP: A Trade Deal from Hell

USAToday: Working until 70 could ease retirement finances
Salon: Bankers constantly lying, defrauding; most still not in jail
Barclays, JPMorgan and the rest of the megabanks reach new heights in malfeasance, suffer few consequences

Food and Water
Smithsonian: Food, Modified Food - Over 70 percent of the processed food in America already contains ingredients that have been genetically modified. So why is the biotech industry nervous about its future?

CommodityOnline: Global rice production for 2012 13 may touch 467 mn tons: IGC 
NYT: For Midwest Corn Crop, the Pressure Rises, Like the Heat 

TheNation: The Secret History of Rum

CattleNetwork: Drought puts herd rebuilding on hold, auction prices much lower
CattleNetwork: Drought, lack of crop insurance only a beginning - The 2012 drought could be taking a greater toll on Corn Belt agriculture than just withered corn and soybean fields, burned up pasture, and non-productive hay fields. Depending on one’s circumstances, the expected diminished yields will result in a severe financial impact.

SoberLook: Corn prices break above the 2008 highs - The drought across the US continues to cause havoc, driving agricultural commodities prices higher. Corn futures hit a record today, exceeding the 2008 highs.

Science and Technology
MSNBC: British theorist Peter Higgs lives to see his boson
ZDNet: Higgs-like particles exist: the head scratching begins

Guardian: At last, a gravitational physics mission in space? Stuart Clark  
RedditScience: Higgs Boson for normal people 

TheScientist: Using DNA to Detect Dark Matter
Nature: Dark matter’s tendrils revealed - Direct measurement of a dark-matter ‘filament’ confirms its existence in a galaxy supercluster.

TexasTribune: Texas Scientists Regret Loss of Higgs Boson Quest

MSNBC: Observatory at the top of the world provides rare view of outer space
PCMag: Are You Infected With DNSChanger Malware?
PopSci: Discovered: the First Major Botnet Living on Smartphones

Wired: Google to Shut Down iGoogle 
Guardian: Throwing out Acta will not bring a free internet, but cultural disaster | Ewan Morrison 

Medical and Health
TechReview; Spotting Suicidal Tendencies on Social Networks 
MSNBC: Addiction among pregnant women a 'monstrous tidal wave' 

Vitals: Mystery disease kills 61 kids in Cambodia 

NakedCapitalism: Insider Report on Big Pharma’s Corrupt Marketing and Phony Science - Yves Smith - Francois T pointed to a post at the blog Health Care Renewal that summarizes an important insider report at the British Medical Journal on how much so-called medical research is of dubious validity, and performed to give talking points for marketing rather than to improve the lives of patients. 
IBTimes: Scientists Find Way to Reverse Brain Ageing
Vitals: FDA approves first rapid, at-home HIV test

Rodale: The Secret Trick for Radiant Skin

Doomsteading, Gardening, Urban Farming
CanadianDoomer: Buckets It Is, Then? 
ModernSurvivalBlog: TSA Wants To Test Your Drink — At The Gate 

HappyHousewife: DIY Compost Tumbler 
JuneauEmpire: A New Take on Raised Bed Gardening. 
(an older article but a good idea nonetheless!)

Rodale: The Nickel Pincher: Make Your Own Homemade Soda 
Sabredancing: I love demolition… 

JustInCaseBook: Summer Kitchen Innaguration 
WaldenEffect: Camilla Barry: How to make wild grape juice

Other News
USAToday: Police say head belongs to Canada body parts victim
USNews: Big Bay Boom indeed: San Diego fireworks go up all at once 

Independent: Spanish police recover lost Codex Calixtinus manuscript 
A priceless 12th-century manuscript stolen from a church last year was recovered yesterday.

Guardian: Princess Diana documentary Unlawful Killing is shelved
Controversial film about Princess Diana's death, directed by Keith Allen and funded by Mohamed Al Fayed, fails to secure insurance for US distributors.
A controversial documentary questioning the circumstances of Princess Diana's death has been shelved after insurers refused to indemnify the makers against potential libel lawsuits, reports the Sun.

USAToday: Police: Dead New York yacht victims all children
AJC: Zimmerman's bail set at $1M in Trayvon Martin case

io9: Surefire Tips and Tricks to Convince People You Have Psychic Powers [Debunkery] 
Guardian: Car falls through collapsed road in China - video - A car falls through a five-metre-deep and six-metre-wide hole after a main road in China's central Hunan province collapsed. According to local media, one man died and the other three passengers were rescued. The cause of the collapse is still being investigated.

Alternet: Red, White, and Blue No Longer: Religion and A Non-White American Future
Bad religion reinforces racial hierarchies and plantation capitalism. Can good religion help us face a more diverse future?

CSMonitor: Mitt Romney's 2012 running mate could be a woman, says Ann Romney
USAToday: Romney says Roberts 'not accurate' on health care

WashingtonPost: Obama defends economic policies in bus tour of Ohio and Pennsylvania
CBSNews: Assets offshore raise Romney wealth questions
Rawstory: Romney’s offshore wealth deeply hidden: report
TeemingBrain: The story behind the Supreme Court’s health care decision

TinfoilPalace: 'Beatings', sniper nests and a punishment block called ‘The Hole’: Inside Scientology’s strict Sea Org which Suri Cruise faced joining – and which drove her parents apart
TinfoilPalace: The Death of the Pacific Ocean

TheOilAge: Uncertainties mount over China
TheOilAge: Berkeley, Berkeley, Albany buy armored vehicle

HubbertsArms: If One Storm Can Turn D.C. Dark For Several Days, What Would A Massive EMP Burst
HubbertsArms: If you're sweltering in this heat wave . . .

SilCo: The LIBOR banking scandal could grow into a big deal....
SilCo: Bumper corn crop this year? Not so much...

DestinyCalls: Canning Jar Fermenter
DestinyCally: New studies on aspirin and cancer prevention

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