Friday, July 25, 2014

 

News Links, July 25-26, 2014

## Global Ponzi meltdown/House of Cards ##
Spanish Graduates Stuck Without Stable Jobs to Pay Rent
Carlos Slim says three-day work week should be standard. Could it work?
Work until you're 75, 11 hours a day. Sounds great! -- RF
Shorting Junk Loans Just Got Easier as New Derivatives Unveiled
Banks are again resorting to derivatives to make it easier to place bullish and bearish bets amid a credit boom, allowing traders to amplify their profits or losses on debt rated below investment grade.
Go for it! -- RF
85 wealthiest are richer than poorest 3.5 billion
France Unemployment New High, Output Down 15th Month; Prices Drop 27th Month; Activity Up in Peripheral Europe; Outlook for Germany
Eurozone economy dead in the water, with crisis expected to carry on 'a long time'
Customers panic as FBME Cyprus under central bank resolution
The privately-held bank issued a statement saying it would cooperate with the Cypriot regulator, but said that it is "shocked by the content of the US Department of the Treasury notice relating to the bank, dated 15 July, that sets out unexplained allegations of weak AML controls."
The bank added in the statement that it had no prior notification of this announcement nor did have the opportunity to comment on or refute the various allegations set out in it.
Leaked Trade Deal Chapter Reveals Corporate-Friendly Subversion of Public Health, Food Safety
Ex-Goldman Trader's Bitcoin Exchange to Fill Mt. Gox Void
No Inflation Friday: Dollarized Panama Issues Price Controls For Basic Goods
Historic Junction for Industrial-Scale Sail Transport

## Airline Death Spiral ##
European carriers suspend more Tel Aviv flights
German airlines cancel more Tel Aviv flights
Air Canada lands safely in Tel Aviv after go-around for rockets
Bombardier to cut 1,800 jobs, aerospace head retires
JetBlue is stealing legroom from coach to give to its new business class

## Fault lines/flashpoints/powder kegs/military/war drums ##
The Coming Storm In The Middle East
Holy Land Deserted of Tourists as Fighting Empties Hotels 
Israeli border towns empty, adjust to new threats
As Rockets Fly, Israeli Programmers Code in Bomb Shelters
Israeli Cabinet Unanimously Rejects Gaza Ceasefire
Israel, Hamas to observe 12-hour unilateral cease-fire in Gaza
Iraq: 60 dead in attack on prisoner convoy
Russia delivering weapons to Iraq: report
EU edges to economic sanctions on Russia but narrows scope
Islamic State presses Syria offensive, targets two key government garrisons
Islamic State uses high grade captured weapons to fight Assad troops in Syria
Ukraine Coalition Government Collapses as 2 Parties Quit 
The Piece Fits; Debunking Revisited
US Invents Reports of Russia Attacking Ukraine Bases
The NSA's New Partner in Spying: Saudi Arabia's Brutal State Police
Central American Presidents Say U.S. Shares Responsibility For Migration Crisis
Liberal party looks to legalize medical marijuana in Colombia
Naval ships from U.S., India and Japan to start war games
France Sends Soldiers To Guard Air Algerie Wreckage In Mali
US Doubles Down on Foreign Military Sales

## Energy/resources ##
'New Gold Rush' for Riches Takes Aim at Deep Ocean
The costs will not be only environmental. As with oil, deep-sea extraction will prove to be expensive. -- RF 
Mineral depletion: the trouble with gold
Power projects worth Rs 36,000 crore stranded on coal shortage
NAS Fukushima report: Accidents will happen
Iraqi Oil In Context: 60% Of OPEC Growth Expectations
For Californians, higher costs dampen support for clean energy
California's future energy pipe dream
Wind turbine payback period claimed to be within 8 months
In addition to the problem observed here, there is the matter of energy fungibility. A wind turbine is a monumental pile of metal that requires a lot of coal and oil to build and install. Even if a wind turbine produces a huge amount of surplus energy, that is electricity, and the turbine can't reproduce itself. That's why renewables are "fossil fuel extenders." Twenty years from now, when the current crop of turbines is grinding to a halt, will coal and oil still be affordable and available enough to build and install a new crop? -- RF
German Utilities Bail Out Electric Grid at Wind's Mercy
Germany's push toward renewable energy is causing so many drops and surges from wind and solar power that the government is paying more utilities than ever to help stabilize the country's electricity grid.
Statoil to cut more than 1,000 jobs
Company's output down 9 percent year-on-year.
Company In Which Joe Biden's Son Is Director Prepares To Drill Shale Gas In East Ukraine
Australia: record coal exports "eating up port capacity"

## Got food? ##
U.S. Midwestern farmers fighting explosion of 'superweeds'
Ultimately the farming population will have to be substantially increased. In other words, we need boots on the ground and hands to yank the weeds. That's the way it's always been done, and that's the way it always will be done. The use of machinery and chemicals is but a short aberration when seen from the past and future of farming. -- RF
U.S. Pork Producers Keep Using Drug Banned or Restricted in 160 Countries
Rat poison found in imported frozen fish
A seafood importer in western Japan is recalling frozen fish from Vietnam after finding that packages of the product contained rat poison.
Tyson Foods to shut 3 factories, cut 950 jobs
Russia: McDonald's food has 'too many calories'
California Water Prices Soar for Farmers as Drought Grows
Farmers in California's Central Valley, the world's most productive agricultural region, are paying as much as 10 times more for water than they did before the state's record drought cut supply.

## Environment/health ##
Beijing shuts big coal-fired power plant to ease smog
Sweden's nuclear plants forced to cut output due to warm weather
Ironically, everyone expected to have more electricity to power their air conditioners in hot weather. -- RF
CDC Head: Age of Antibiotic Resistance Is Nigh
Deadly 'superbug' is spreading in US hospitals
Cases of the contagious and deadly "superbug" known as CRE increased five-fold in community hospitals from 2008 to 2012 in the Southeastern U.S., according to a new study.
Western US water crisis worse than thought
Study: Earth in the midst of sixth mass extinction
Nigeria confirms Liberian man died of Ebola in Lagos
Neonic insecticides widespread in Iowa waters -study
Groundwater levels drop in Southwestern U.S. in ongoing drought
Creepy crawlies decline as human population soars
The number of slugs, spiders, butterflies, worms and other invertabrates has fallen by 45 per cent in 35 years in a decline whcih could have huge implications for humans
Colombia launches emergency plan to combat El Nino drought
Colombia has launched an emergency plan to combat the impact of the El Nino weather phenomenon, which has led to drought in several regions of the Andean nation, causing the death of livestock and damage to crops.
Kudzu That Ate U.S. South Heads North as Climate Changes
WWF: Arctic Oil Well Blowout Could Spread More Than 1,000 Km

## Intelligence/propaganda/security/internet/cyberwar ##
European Central Bank in database security breach
Nigerian 419 Email Scammers Shift to Malware and Hacking
The "Insider Threat Program" and the Government's War on Whistleblowers
'To Protect the Press,' Spain Tries to Muffle the Internet
Australian IT industry faces impending skills shortage
Britain faces increasing digital skills shortage, says taskforce report
Typewriter manufacturers see boom in sales (Germany)
Canvas Fingerprinting Is More Invasive Than Cookies. But Should You Worry About It?
Everyone seems to have forgotten the time the U.S. shot down a passenger jet, killing 290, and then tried to cover it up
This is how you invent a person online
Missouri to Vote on Adding Phone, Email Privacy to State Constitution
Germany begins spying on Britain and America for the first time since 1945

## Systemic breakdown/collapse/unsustainability ##
The Rot Within, Part III: Our Political Order Is Defined by Favoritism and Extortion
Auditors Say NASA Doesn't Have the Money for Big Rockets
Long-time readers will recall that I've predicted declining fortunes for space programs. -- RF
Greek quadriplegic woman on life support 'dies due to unpaid power bills'
Social Security's $300M IT project doesn't work
Glitch crashes global US passport, visa operations
Hip And Knife-Proof? The Latest Threads At Colombia Fashion Show
Fashionable and practical - two words that could describe a line of men's clothes recently shown at Medellín, Colombia's Colombiamoda 2014 international fashion show. A line of anti-ballistic clothing — hoodies, t-shirts and polo shirts —also offers varying levels of above-the-waist protection from knife and blade cuts, bullets and abrasion, like falling from a motorcycle.
Are We Addicted to Failure?
Like all addicts, Central Planners are confident they can manage the monkey on their back. But this is a self-serving illusion.
Mazda recalls U.S. cars with faulty Takata air bags

## Japan ##
The Flame-Out Of Abenomics, in One Crucial Chart
Pity The Japanese: They've Been Turned Into Keynesian Lab Rats
Attempt by China to buy Japanese islands scuppered: Sankei Shimbun
Japan's Export-Champ Days Are Left Behind, Chart Shows
Japanese Inflation Holds Near 23 Year Highs As Food, Energy, & TV Costs Soar
Japan's secrecy law seen as draconian
Fukushima monkeys show possible effects of radiation, study suggests
McDonald's Japan stops sourcing all chicken from China
Japan walking 'tightrope' on public debt as yields set to rise: Amari
Japanese government to make fuel-cell cars the official vehicle for all ministries
Japan eyes opening 3 casinos by 2020
Abe arrives in Mexico on first leg of Latin America, Caribbean visit

## China ##
China to roll out seven pilot markets for trading water rights
China to create intellectual property courts
I can hear a lot of applause here. Hooray, the Chinese are getting serious about protecting intellectual property rights, etc. Maybe so. But this is exactly what brings the whole system down. Because problems are continually arising, governments perforce keep creating new offices and departments and ministries and institutions to deal with them. But even if a solution of sorts results, any newly created entity requires energy (i.e., a budget), and thereby becomes yet another burden that must be maintained. Governments in this way become increasingly bloated and complex, and that bloat and complexity act as a major force that induces dysfunction and, ultimately, systemic collapse. Have a nice day! -- RF
Whose Oil Will Quench China's Thirst?
Keynesian Ditch Diggers At Work: China's Construction Orgy Has Planted Malinvestments Everywhere
Overgrown Beijing slaps new limits on industry in bid to cut smog

## UK ##
More universities to charge maximum tuition fees of £9,000
NHS patients at risk of getting mad cow disease during surgery
Hundreds die each year in NHS due to faulty machines: report
Scotland Yard refuses to name 17 groups it spied on
Ryanair-style nurseries are charging extra for food and nappies, report warns
Nurseries are becoming like "budget airlines" forcing parents to pay for "optional" extras such as food and activities for their children, a survey of hundreds of childcare providers has found.
Poor doors: the segregation of London's inner-city flat dwellers
Multimillion pound housing developments in London are segregating less well-off tenants from wealthy homebuyers by forcing them to use separate entrances.

## US ##
US Manufacturing PMI Drops, Biggest Miss On Record
Obama Declares Emergency As Huge Fires Burn In Washington State
Canadians decry shutoffs, plan water convoy to Detroit
What Drives Miami's Condo Bubble 2? Foreign Buyers
What Will Fed Do When The Overheated Sectors Carrying US Economy Start Cooling?
Car thieves with good taste are targeting luxury vehicles
Federal officials say hundreds of thousands of high-end vehicles are smuggled overseas everywhere by car theft rings.
Illinois workforce shrinks by largest margin in state history
Barbaric: Arizona inmate takes nearly two hours to die in botched execution
New Home Sales Collapse 20% From May To Dec 2012 Levels; Biggest Miss In A Year
Groundwater levels drop in Southwestern U.S. in ongoing drought
Detroit Isn't Fixed: The City's Pensioners Just Pulled Another Heist
When does college become too expensive? Tuition growth continues to outpace income growth and the student debt bubble continues to expand with the vast majority of debt going to the young.
Record Student-Loan Debt Prompts Treasury Push to Stem Defaults
The U.S. Treasury, which finances more than 90 percent of new student loans, is exploring ways to make repayment more affordable as defaults by almost 7 million Americans and other strapped borrowers restrain economic growth.
Resolution Against New Iraq War Passes House in Landslide
ObamaFraud: GAO Study Finds Almost All Fake Applicants are Approved for Subsidized ObamaCare
As Political Disenchantment Soars, Lines At The Polls Grow Shorter
Obama Shenanigans on 'Factoryless' Exports, Taxes, Employment, Jobs
Wal-Mart's New U.S. Chief Faces Empty Shelves, Grumpy Shoppers
Shares Of A Major US Trucker Are Crashing After Management Says It Can't Find Drivers For Its Trucks

And finally...
Female postal worker allegedly 'goes postal' at NYC hair salon because of slow service


 

News Links, July 24, 2014

## Global Ponzi meltdown/House of Cards ##
IMF cuts U.S. 2014 growth forecast to 1.7 percent
China's Debt Ratios Set To Soar Past US Levels—-Up 100 Percentage Points In 5 Years
The dollar's 70-year dominance is coming to an end
Puerto Rico debt crisis headed for U.S.-style bankruptcy resolution
Half of Europe's Jobs Threatened by Machines in Echo of U.S. Risk
Fifty-four percent of jobs in the 28-member European Union are at risk of advances in computerization, according to a study by economist Jeremy Bowles published by Bruegel, a Brussels-based research organization.
Greek sovereign debt at 174.1 percent of GDP in first quarter
Global stock markets at risk from Black Swan spike in oil price
Chart Of The Day: For Caterpillar The "Great Recovery" Is Just As Bad As The Great Financial Crisis
5 cities that millionaires call home
The Boomerang Effect: Sanctions on Russia Hit German Economy Hard

## Airline Death Spiral ##
Boeing to pack fliers tight on high-density 737 model
Qantas can't just do a Virgin
Mounting losses fail to deter aviation entrepreneurs
FAA extends Tel Aviv flight ban another 24 hours
US airlines are still flying over these war zones
China's Horrible Flight Delays Are About to Get Worse

## Fault lines/flashpoints/powder kegs/military/war drums ##
Ukraine fighter jets shot down close to crash site
The Ruskies Did It, But Washington Confesses: "We Don't Know A Name…Rank….Nationality….No Perry Mason Moment"
Ukraine Caught in Third Major Lie? Magic Number 312
US Story on MH17 Unravels Over Lack of Real Evidence
Africa Transforms, But Confused US Policies Push it Toward China
Al Qaida-affiliated Syrian insurgents seize towns from U.S.-backed rebels
Fighters from the Nusra Front, al Qaida's official affiliate in Syria, on Tuesday seized three strategic towns on the border with Turkey in a major blow to U.S.-backed moderate rebels.
Murder on the Pipelines: Drug Cartels Turn Texas Oil Routes Into Killing Zones
Global terrorism deaths soar
Israel's Iron Dome Defense in Line for Tripled U.S. Aid
Israeli Attacks on Gaza Continue: 693 Palestinians, 34 Israelis Dead
Boeing SEC Filings Confirm Possible Iran Sales

## Global unrest/mob rule/angry people/torches and pitchforks ##
Mumbai Muslims Protest Gaza by Boycotting Pepsi, Nescafe
Rich-poor divide threatens Asia's political stability

## Energy/resources ##
Things Continue To Get Worse
The main surprise, at the moment, is how rapidly the situation is deteriorating in so many of the countries that supply oil and gas to the world. Sadly the headlines will only cover one or two of these at a time. As a result the overall trends are missed as headlines instead focus on the very small changes driven more by sentiment and political perspective than by the realities of the medium, and even short-term oil and gas supply situation.

Revealed: the dirty secret of the UK's poultry industry
Two-thirds of fresh retail chicken in UK contaminated with campylobacter

## Environment/health ##
Bats get 'the bends' from wind turbines
Conservationists once thought that bats flew into blades accidentally, but wildlife experts now believe they get 'the bends' from the pressure change

## Intelligence/propaganda/security/internet/cyberwar ##
Meet Theranos, Inc. – The Blood Testing Company with Henry Kissinger and a Cadre of Military and Political "Elite" on its Board

## Systemic breakdown/collapse/unsustainability ##
The Rot Within, Part II: Inflation Is Not "Growth"
Warning of 'dangerous' public backlash against solar in Japan
Rises in consumer electricity prices, caused in part by a backlog of unbuilt PV projects, could put Japan's solar industry in serious danger of losing support, a Tokyo-based analyst has warned.

Multi-story buildings will all become unusable without affordable electricity. -- RF
And finally...
Fugitive tries to make escape by running into police academy


Tuesday, July 22, 2014

 

News Links, July 22-23, 2014

## Global Ponzi meltdown/House of Cards ##
Use of renminbi, Chinese currency, growing globally
Turkish PM Cuts Ties With US, Mulls De-Dollarization With Russia
Swiss, Chinese Central Banks Enter Currency Swap Agreement
The Swiss National Bank and the People's Bank of China reached a currency swap agreement on Monday, allowing the two central banks to buy and sell their currencies up to a limit of 150 billion renminbi, or 21 billion Swiss francs ($23.4 billion).
BRICS shake up global economic architecture
New World Disorder: Emerging Division Between East And West Threatens To Plunge The Globe Into Chaos
China's debt soars to 250% of GDP
Chinese Government Frets Out Loud About Property Bubble Taking Down the Economy
In third straight month of decline, industrial turnover falls 4.9 pct in May (Greece)
After $35 Billion In US/Europe/IMF Aid, Kiev Needs Even More To Keep Afloat And Its War On The East Funded
Bank Of England Leads Push For Deposit Confiscation - Japan, China, Russia Against Bail-Ins
The Baltic Dry Index Collapses To 18-Month Lows; Worst July Since 1986
European Banks Begin to Sweat As ECB Promises Scalps
Have Institutional Investors Gone Completely Nuts?
Allergan to cut 1,500 employees in restructuring
Scramble For Yield Goes Ballistic—-Even Mexican Junk Bonds Up 2X Over Last Year

## Airline Death Spiral ##
Airlines scrap Israel flights over missile fear
In a sign of increased caution about flying near combat zones, U.S. and European airlines halted flights to Israel Tuesday after a rocket landed near Tel Aviv's Ben Gurion Airport.
As the world becomes increasingly unstable, the skies will become increasingly unfriendly to commercial aircraft. -- RF

## Fault lines/flashpoints/powder kegs/military/war drums ##
Russia Says Has Photos Of Ukraine Deploying BUK Missiles In East, Radar Proof Of Warplanes In MH17 Vicinity
Secy Kerry's Belligerent Bombast: Rush to Judgment Just Like False Syria Gas Attack Charges
Ron Paul On 10 Things The Media Won't Report On The MH17 Tragedy
Email from Ukraine Portfolio Manager; Obama Idiocies and Ironies
Bodies, black boxes handed over from Ukraine crash site
UN Security Council Demands Investigation Into Downed Malaysia Airlines Flight
Sorting Through All the Possibilities; Ukraine Accuses Russia of Deliberately Downing MH17; Brawl in Ukraine Parliament; Rush to Judgment
US State Department "Confident" MH17 "Mistakenly" Downed By Separatists, Finds No Direct Link To Russia
Russian View: Why Putin Is Not Impressed
The effects of the first round of US sanctions enacted in the aftermath of Crimean referendum have been somewhat, let's say, surprising for Western mainstream media. Besides the obvious fact that the sanctions haven't had a visible impact on Russian foreign policy, they marked the local bottom of the Russian stock market, which has since outperformed the US stock market.
Israel using flechette shells in Gaza
Israel's Iron Dome Isn't Working: A Weapons Expert's Warning
Israel strikes hospital, houses; Gaza death toll passes 570
Gaza War Toll Continues to Soar: 608 Palestinians, 27 Israelis Killed
Islamic State crushes and coerces on march towards Baghdad
Islamic State thwarts Syrian government forces on two fronts
With ISIS Now Controlling 35% Of Syria And Most Of Its Oil Fields, Iraq Issues An Ultimatum To The US
Sanctions relief for Iran extended

## Global unrest/mob rule/angry people/torches and pitchforks ##
'Silence is Consent': Thousands Worldwide March For Gaza
Pro-Palestinian protests turn violent in Paris

## Energy/resources ##
Shale's "Ground Zero" Moves To Ban Drilling
Nuclear waste - the unanswered questions that won't go away
Analyst: Oil, Gas CAPEX Spending to End 2014 a Bit Flat
Easier said than done: Keeping Oil Production From Falling
Amplats to sell strike-hit South African mines
Here's Yet Another Problem in Platinum Supply
Qatar's LNG Dominance Threatened by Shell's Reported Withdrawal
Royal Dutch Shell's widely reported decision to end its role in a gas project in Qatar threatens the Gulf state's dominance in the production of liquid natural gas (LNG).
Region hit by massive blackout (Australia)
China's President Xi Jinping signs Venezuela oil deal
Global seaborne coal market oversupply to be 10MT this year - Report
Reuters reported that the global market for seaborne thermal coal will be oversupplied by around 10 million tonnes this year, keeping prices below profitable levels for most coal producers well into 2015 or longer and forcing more mines to close.

## Got food? ##
Beef pollutes more than pork, poultry, study says
Raising beef for the American dinner table does far more damage to the environment than producing pork, poultry, eggs or dairy, a new study says.
Growing the Open Food Revolution
China food scandal spreads, drags in Starbucks, Burger King and McNuggets in Japan
High food prices killing Ghanaians
Removal of Egyptian energy subsidies impact on food prices

## Environment/health ##
Hot Streak: World Breaks Monthly Heat Record Again in June
80 percent of California is now in extreme drought
Soaring Meat Consumption Bigger Problem Than Thought: Study
New research suggests giving up red meat in particular would be more impactful environmental choice than giving up your car
Great Barrier Reef 'in worst state since records began'

## Intelligence/propaganda/security/internet/cyberwar ##
Government agents 'directly involved' in most high-profile US terror plots
Verizon Launches Rewards Program With Tracking
New Tracking Tool Is Like a Cookie That Can't be Blocked
1 Million Net Neutrality Comments Filed, But Will They Matter?
Hackers Extorting With Stolen Photos Increasingly Common
NSA shares raw intelligence including Americans' data with Israel
Why Should Anyone Believe Kerry Now: His Syria Gas Attack Lie Was Brazen
State Dept. Annoyed at Press Questioning MH17 Narrative

## Systemic breakdown/collapse/unsustainability ##
The Rot Within, Part I: Our Ponzi Economy
Surfing the Italian tsunami
Italy is being hit by an economic tsunami caused by the high costs of mineral commodities which is destroying its industrial system and plunging the country in a deeper and deeper crisis. Unfortunately, the Italian government seems to be still locked in the obsolete paradigm of "restarting growth" no matter at what costs and that is worsening the problem instead of solving it.
I'm sure this formula sounds familiar even to those of us who don't live in Italy. -- RF
Self-Driving Cars Will Mean More Traffic
Growth vs. Prosperity: Crash Course Chapter 5
Shortages of Prescription Drugs Reported Nationwide

## Japan ##
The real story behind Japan's drone boom
June home appliance shipments drop 6.8%
Japan's economic growth forecast for FY 2014 cut to 1.2%

## China ##
Chinese officials to get re-education in Marxism
China's housing market implosion is picking up speed
Chinese Bitcoiner Makes Physical Bitcoins In Pure Gold
China's meaningless GDP figures: Bloated Chinese economy needs austerity diet
Ethiopia Becomes China's China in Search for Cheap Labor
China's enormous bad debts may mean good times for bankruptcy experts
Asia's richest man is building Hong Kong apartments barely bigger than a prison cell

## UK ##
UK autumn gas prices to rise due to maintenance, Ukraine risk
Student loan system is almost financially unworkable, say MPs
Government fuel poverty strategy 'meaningless' and 'inadequate', campaigners warn
Trouble in store: the grave future of British public and private debt

## US ##
The Ambitious Plan to Break California into 6 States – A Model for the Future?
The Full-Time Scandal Of Part-Time America
Huge Labor Force Dropout Not Due To Retirements: 47% Full-Time Employment Ratio Of Working Age (16-54 Yrs.) Lowest Since 1985
Inflation where it matters: Close to 50 percent of Americans indicate spending more on groceries and fuel this summer. Nearly one third indicate more spending on rent and mortgage payments.
U.S. consumer inflation rises on high gasoline prices
AK-47 Sales Soar After US Sanctions Kalashnikov Imports
Child poverty rates on the increase
Rich-poor divide: City OKs UWS development with 'poor door' for residents
A trend to working fewer hours and low wage labor: Is America looking at becoming a low wage nation in a race to the bottom? 1 out of 4 people working are in jobs paying $10 an hour or less.
Perry sending National Guard troops to border
Migration spotlights Mexican 'coyote' smugglers
New college grads hit by slow wage growth: Fed study
Can you really afford a new child?
What a Storm Surge of Hot Money Does To San Francisco
Detroit retirees back pension cuts by a landslide
Deal In Detroit Could Signal Cuts To Pensions Elsewhere
Coming to a shore town near you? Inside New Jersey's pension crisis
Appeals Judge Says Guillotine 'Probably Best' for Executions
"But executions are, in fact, nothing like that. They are brutal, savage events, and nothing the state tries to do can mask that reality. Nor should it. If we as a society want to carry out executions, we should be willing to face the fact that the state is committing a horrendous brutality on our behalf."

And finally...
Creationist Ken Ham calls to end space program because aliens are going to hell anyway


Sunday, July 20, 2014

 

News Links, July 19-21, 2014

## Global Ponzi meltdown/House of Cards ##
Three Charts Of The Week: Money Printing Is Not Bringing Prosperity To Main Street
Greece Seen Needing Third Bailout as Bonds Insufficient
Why Sanctions Won't Upend Russia's Debt Repayments
Holding Company Of Portugal's 2nd Largest Bank Just Filed For Bankruptcy Protection
Bolivia lowers legal working age to 10 to boost economy
BRICS Plan To Become "Political Alliance" To Reform The International Financial System
Incubating a non-dollar architecture
Argentina "Determined to Default" Second Time
UBS Warns Everything Is Overpriced, Prepares For Sell-Off
How The Tax Code And Cheap Debt Fuel The Massive Stock Buyback Ponzi—-$7 Trillion Since 2001

## Airline Death Spiral ##
Trinidad airline suffers $16m loss in 2013
Air India pares loss but no privatisation on horizon
SIA aims to cut pilot training time from 3 years to 2
Flight delays and aborts may lead to license loss (Vietnam)
Airlines symbolize nations' hopes or reflect shame
Why your next plane flight could be over a war zone
While travelers may be surprised that a commercial airline was flying over Eastern Ukraine at a time of a military conflict, commercial airlines often fly over hostile territory—unbeknown to those onboard. In fact, experts say no-fly zones for commercial aircraft can change daily or even hourly.
Unfriendly Skies: America's airlines are the world's most profitable and least comfortable
There's been a deliberate effort in recent years, especially by American carriers, to make life on an airplane as miserable as possible. The strategy of cultivating loyalty by offering free upgrades has been replaced by one that charges customers for the privilege of comfort.

## Fault lines/flashpoints/powder kegs/military/war drums ##
Malaysian Airline Horror Spurs New Rush to Judgment
Video of MH17 Hit by Missile; Update From Jacob Dreizin; Black Box Thoughts
US Beats War Drums Over Downed MH17 Plane, But Evidence Sketchy
Foreigners join far-right militias in Ukraine's fight against rebels
The Final Moments Of Flight MH-17: The Russian Side Of The Story
Here's how whoever shot down MH17 could have mistaken the passenger flight for a fighter jet
Ukraine separatists may have mistaken Malaysian airliner for military aircraft; 298 aboard die
Ukraine's Security Service Has Confiscated Air Traffic Control Recordings With Malaysian Jet
French President Announces New Operation in Africa
France's president announced the redeployment of 3,000 French troops in five of its former colonies across northwest Africa as part of an operation to help fight terrorism in the region.
Iraq crisis: How Saudi Arabia helped Isis take over the north of the country
Iranian commanders on front line of Iraq's fight
Islamic State killed 270 in Syrian gas field battle -monitor
Islamic State seizes major Syrian oil fields, aids Assad regime
Wave of bombings in Baghdad kills 27 people: police, medics
14 Reasons Obama Is Lying When He Claims The World Is 'More Stable' And 'Less Violent' Than Ever
Spending worldwide on UAVs to double, study says
Manila urges unity for South East Asian nations in China sea dispute
From Gaza To The Ukraine: The Human Price Of Neocon Havoc
Iran, six powers agree to 4-month extension of nuclear talks
Egyptian troops killed with rocket-propelled grenades at checkpoint
Gunmen firing rocket-propelled grenades have attacked an Egyptian border checkpoint killing 15 soldiers, officials and state media have said.
Russia bars entry to 12 Guantanamo and Abu Ghraib-linked Americans
China sends spy ship off Hawaii during U.S.-led drills
Heavy clashes erupt over Tripoli airport, at least four dead
Iran eliminates sensitive stockpile under interim nuclear deal: IAEA
Israel expands into Gaza, killing at least 50

## Global unrest/mob rule/angry people/torches and pitchforks ##
Besieged by Pro-Democracy Activists, Hong Kong's Government Builds a Fence
Is there a Revolution Brewing over Taxes? OECD Says Yes!
Detroit Water Shutoffs Prompt Mass Protest, More Calls For Moratorium
Clashes as pro-Palestine protesters march in Paris despite ban

## Energy/resources ##
North Sea Oil, Gas Firms Hold Off on Investment
Oil and gas firms may be adopting a "wait and see" approach before making further investment decisions in the North Sea, according to business consultant Deloitte. In May, the consultancy predicted that drilling and deals in the North Sea would remain at a "steady low" for at least a year but its latest findings suggest a collapse in activity on the UK Continental Shelf (UKCS).
Why Oil and Gas in the South China Sea Won't Be Developed
Japan, Brazil to collaborate in tapping hard-to-reach offshore oil
Just look at these massive projected costs, which you know are going to balloon as the work proceeds. It doesn't matter how much oil there is, or how much is recovered. What matters is that it will be expensive, and expensive oil is not what the world needs. How much are you willing/able to pay? -- RF
Asia-Pacific taking on most OPEC crude
U.S. 'comfortable' with Iran's oil exports
US Approves Plan To Open Atlantic To Oil Reserve Surveys
In North Dakota's oil bonanza, natural gas goes up in flames
Fires are major cause of wind farm failure, according to new research
Obama Moves Closer to Seismic Testing for Oil in Atlantic
Rotating blackouts now 5 hours (Philippines)
Power Grid: American System Fails More Than Any Other In The World
SNL points to drastic fall in new gold discoveries
Research points to a dramatic fall in new gold discoveries which are falling well behind global production levels. This will have a significant impact on gold supply ahead.
India coal demand set to rise to 787 million tonnes - Mr Goyal
Mr Piyush Goyal, Coal and Power Minister, said that India's coal demand is expected to rise 6% to 787 million tonnes this financial year, which could lift imports close to 200 million as local supply falters.
Militants blow up gas pipeline in Egypt's Sinai
Iraqi government considering halting oil supplies to Jordan

## Infrastructure scavenging ##
How criminals are wrecking South Africa's telecoms networks
Criminals in South Africa are causing millions of rands of damage to telecommunications networks through copper theft, stealing batteries from cellular towers, and even stealing fibre to make certain products.
South Africa: Metal thieves 'steal 10km of railway'
Metal, catalytic converter thefts double from 2009
Thieves targeting air conditioners for copper

## Got food? ##
'Peak soil' threatens future global food security
Bye, Bye OJ? A tiny bug is destroying the world's citrus crop and science is still years from a cure
Quinoa isn't the only ancient crop falling prey to Western gluten-free appetites
Late monsoon starts Indian farmer's "journey to hell"

## Lifestyle Solutions ##
Excellent: Degrowth Solutions: Half-Farmer, Half-X
Take it from me: being half farmer and half something else is a great lifestyle. You'll be healthier, happier, more self-sufficient, and learn to live on much less money. And food security is no joke. -- RF

## Environment/health ##
Four Cases of Life-Threatening Plague Found in Colorado
Sewage-treatment plants described as giant 'mixing vessels' after scientists discover drug-resistant bacteria in British river
Superbugs resistant to some of the most powerful antibiotics in the medical arsenal have been found for the first time in a British river – with scientists pinpointing a local sewage-treatment plant as the most likely source.
Lightning a threat to ND saltwater disposal sites
Three massive fires since the beginning of June have highlighted the threat lightning poses in the North Dakota oil patch, and in each case it was tanks that store the toxic saltwater associated with drilling - not the oil wells or drilling rigs - that were to blame.
California Halts Injection of Fracking Waste, Warning it May Be Contaminating Aquifers
Record-Breaking Wildfires Bear Down on Washington Communities
Ebola May Have Been Smoldering for Years, Study Says
As Polar Icebox Shrinks, Infectious Pathogens Move North

## Intelligence/propaganda/security/internet/cyberwar ##
Big Brother's Little Brother in Mexico
NBC News Pulls Veteran Reporter from Gaza After Witnessing Israeli Attack on Children
Air Force research: How to use social media to control people like drones
Thai junta's gag on media raises alarm, criticism over freedom of speech
Critics and journalists raised concerns Saturday about the Thai military government's latest move to tighten its grip on the media by banning them from criticizing the junta's operations and threatening to immediately suspend the broadcast or publication of content that defies the order.
Biggest Dutch Daily Calls For NATO Intervention To Protect MH17; Feinstein Tells Putin To "Man Up And Confess"
Dark Mail: A Convicted Hacker and an Internet Icon Join Forces to Thwart NSA Spying
Ars editor learns feds have his old IP addresses, full credit card numbers

## Systemic breakdown/collapse/unsustainability ##
The Coming Crash Is Simply the Normalization of a Mispriced Market
Criminalization of homelessness on the rise in U.S. cities
Inspection of low-temperature home delivery trucks reveals shortcomings
The US isn't the only country with emerging cold-chain problems. -- RF

## Japan ##
Gov't OKs plan to to build maglev line, despite environmental concerns
A waste of money, energy, and resources for a project that will never be finished. -- RF
Retail egg prices up 10-20% from last yr
Japan to miss 2020 budget surplus goal regardless of sales tax hikes
Japan is unlikely to meet its international commitment to achieve a government budget surplus by fiscal 2020, even if it proceeds with another consumption tax increase, sources said Saturday.
What to Expect at Japan's Amphibious War Training Camp
As a territorial dispute with China over remote islands heats up, Japan's Ground Self-Defense Force is accelerating efforts to build an amphibious fighting force modeled after the U.S. Marine Corps.
Japan eyes buying Ospreys as US looks to expand fleet to mainland
Abe says gov't will offer Y2 mil subsidy for fuel-cell cars
Waste of money. -- RF
Water leaks continue to plague No. 5 reactor at Fukushima plant
Make babies! Politician proposes giving newlyweds pierced condoms

## China ##
Chinese Construction Company Threatens To Default, Debt Dominoes Are Lined Up
China vs. Japan Debt Capacity; Impact of Debt on Chinese Growth; Chinese Recovery On Paper
Chinese Commodity Contagion Leads To First Letter Of Credit Settlement Failure
Beijing assembles people's army to crush China terrorists with an iron fist

## UK ##
Intelligence services 'creating vast databases' of intercepted emails

## US ##
Atlantic City Adrift as Casino Closings Sap Jobs Market
US Lags Behind on Energy Efficiency, Study Shows
Courtesy of the American Council for an Energy-Efficient Economy.The U.S. ranks near the bottom of the second annual International Energy Efficiency Scorecard, released Thursday by the American Council for an Energy Efficient Economy.
The 40-hour workweek is done, thanks to technology
The average cubicle farm, it seems, is where the 40-hour workweek went to die. According to a new survey, a staggering number of American professionals have workweeks that exceed 40 hours.
U.S. still net oil importer, API says
We're in the third biggest stock bubble in U.S. history
New York Launches BitLicense Proposal – How Bad is it?
Ominous Portents in Consumer Sentiment
US terrorist database growing at rapid rate
The U.S. government is rapidly expanding the number of names it accepts for inclusion on its terrorist watch list, with more than 1.5 million added in the last five years, according to numbers divulged by the government in a civil lawsuit.
California City Will Fine Couple $500 For Not Watering Brown Lawn, State Will Fine'em $500 If They Do
What Disposable Income Looks Like: With And Without Government Handouts
The Insiders' Case for a Stock Market Mini-Crash
In violent weekend, at least 40 people shot in Chicago
Atlantic City doomed by glut of casinos in region
Subprime woes are back: This time in used cars
Big jump in number of millennials living with parents reported

And finally...
Waitress at restaurant in China scarfs down cockroach in front of diners after complaint
Snail slime, sheep grease and other incredibly weird ingredients in your beauty products


Thursday, July 17, 2014

 

News Links, July 17-18, 2014

## Global Ponzi meltdown/House of Cards ##
Pain Spreads From China's Excess Production
Canada's Magnificent Housing Bubble at Risk, Fitch Says
China Finds Debt Addiction Hard to Break in Growth Quest
Puerto Rico bonds crash high-yield municipal debt party
It looked like there was no stopping the runaway returns for high-yield U.S. municipal bonds earlier this year. But that has all come to a screeching halt in the past few weeks thanks to a bombshell coming out of the Caribbean.
Bolivia on verge of legalizing work from age 10
Hype Officially Over: Spain Not The "New Germany"
European losses deepen as Ukraine crisis intensifies
Rising rents catapult UAE cities up global cost of living list
Microsoft to cut 18,000 jobs this year as it chops Nokia
Microsoft Layoffs: Insane M&A Frenzy Leads To Next Jobs Crisis
Consultants say Egypt needs $120 bln inflow over 4 years - officials
When The Price Of Money Is Zero—Sharpies Can Get Away With Almost Anything
Wall Street Buys NATO Microwave Towers in Quest for Speed
An 800-foot microwave tower in a Belgian cow pasture transmitted messages for the U.S. armed forces in 1983 when suicide bombers killed hundreds of military personnel at Marine barracks in Beirut, Lebanon. Now it's being used by high-frequency traders.
A fifth of developing world lives on below $1.25 a day
India Imported 713 MT Of Silver In April, 1921 MT YTD
U.S. gold dealer launches first digital currency backed by bullion
U.S. precious metals dealer Anthem Vault Inc said on Wednesday it has launched the first digital currency backed by physical gold, with an aim to increase the use of bullion as an accepted form of electronic money.

## Airline Death Spiral ##
China Southern reports 1H net loss
China Southern Airlines has reported a first-half net loss of CNY900 million to 1.1 billion ($146 million to $178 million) compared with a net loss of CNY302 million in the year-ago period.
Airline revenue: A drop over the ocean
Get More Acquainted With Your Knees as Boeing Reworks 737

## Fault lines/flashpoints/powder kegs/military/war drums ##
Saudis on Alert at Iraq Border for Conflict Spillover
Iraqi army retreats from Tikrit after assault stalls
Hamas drone injects new element into Arab-Israeli conflict
Tens of thousands flee Israeli raids on Gaza
Israel sends troops into Gaza after cease-fire talks fail
Insurgents attack Kabul airport
New Age of Washington Consensus in Latin America
German minister calls for €1 billion to tackle 'worst refugee crisis in 50 years'
US imposes more sanctions against Russia
Ukraine crisis: US breaks step with Europe over Russia sanctions
After weeks of lobbying European allies to inflict economic pain on Russia over its meddling in Ukraine, the Obama administration imposes tough new sanctions to go it alone against Moscow
Malaysian airliner crashes over Ukraine; missile strike suspected
Ukrainian Army Buk Missile Likely Downed Malaysian Plane - Source
A Ukrainian army battalion of Buk air defense systems was deployed near the city of Donetsk a day before the crash of a Malaysian passenger plane on Thursday, making the downing of the aircraft by one of the missiles highly probable, an expert source said.
Japan, Britain to join forces to research missile technology
Vietnam Says China Backing Down In Oil Rig Dispute
Mystery plane raided: Pilot who flew aircraft across Pacific says he left it in Philippines
Ninety killed by Islamist attack on Syrian gas field -monitor
Militant group Islamic State seized a Syrian gas field and killed at least 90 people on Thursday in one of the bloodiest clashes between the al Qaeda offshoot and President Bashar al-Assad's forces, a monitoring group said.
UK summons Spanish envoy over "provocative" Gibraltar naval activity
China deepens ties to Brazil, plans to build railways
China expanded its trade partnership with Brazil on Thursday with $7.5 billion in financing for Brazilian miner Vale, the purchase of 60 passenger jets from planemaker Embraer and renewed commitment to invest in infrastructure.

## Global unrest/mob rule/angry people/torches and pitchforks ##
Citizens protest against water shortage — burn tires, chant anti-government slogans (Pakistan)
Revealed: the hunger strikes of America's most secret foreign prisoners
S. African union NUMSA says to intensify metals, engineering strike
Massive protests erupt in Kashmir after military crash kills 6
As Immigration Crisis Grows, A Protest Movement Gains Steam
Strike Out! Police in China Are Rounding Up and Destroying Matches
Rural Chinese drink poison to protest expropriation of land

## Energy/resources ##
Humidity and power outages hit citizens hard (Pakistan)
China Three Years Late on Installing Offshore Wind Farms
Strong, steady offshore breezes have the potential to become an important source of electricity, but installing jumbo-jet sized gear in the harsh, marine environment is a complicated and expensive endeavor. The slow pace in China is matched by the U.S., which has no offshore wind farms after more than a decade of development efforts. In Europe, the only continent with any significant sea-based wind power, companies have scrapped plans for more than 5,700 megawatts since November.
I told you so. Renewable energy is expensive. The world must learn to operate at a much lower energy level. -- RF
Hungry U.S. Power Plant Turns to Russia for Coal Shipment
Utilities in the U.S. are scrambling for coal, on pace to increase imports 26 percent this year, as railroad bottlenecks slow deliveries and electricity demand climbs with an improving economy.
Access To Energy Explains Unequal Growth Rates of India and China
A graphic representation of how economies respond to the access to energy, or lack thereof. One can also easily see what will happen to the curve as energy becomes more expensive. -- RF
First Solar Drops Plan for World's Biggest Plant in China

## Got food? ##
If This Keeps Up, They Will Have To Start Putting Armed Guards On Food Trucks
Applebee's Pulls Salad After Minnesota E. Coli Cases
California Drought Cuts Water for Farming to Record Lows
No Longer Niche, Local Foods Becoming Big Business
Drought, disease and cold weather are leading to surging food prices in the U.S.
Food Used to Fatten Animals Could Feed 3 Billion: Study

## Lifestyle Solutions ##
Finding Shelter from the Storm Part 2
More good suggestions for surviving collapse, and perhaps even thriving! -- RF

## Environment/health ##
Brain-Eating Amoeba Lurks in Warm Summer Water
The death of a 9-year-old Kansas girl from a brain-eating amoeba infection is a jolting reminder of a rare danger of swimming in fresh water heated by the summer sun — a risk that experts say could get worse in summers to come.
The Largest Landfill On Earth: Plastic Garbage In The Oceans?
Global carbon market hopes fade as Australia dumps CO2 trading
Oregon declares state of emergency as wildfires spread
Chilling new details on cold-storage smallpox
Study: marijuana compound slows tumor growth
Climate Scientists See 'Very Rapid Declines' in Annual NOAA Report
Latest State of the Climate: Yup, Still Getting Hotter 
This invasive plant is consuming the equivalent of 46,000 soccer fields of US land every year

## Intelligence/propaganda/security/internet/cyberwar ##
German lawmakers consider using typewriters to counter espionage
U.S.'s Lew: cyberattacks aim to disrupt U.S. financial system
Russia to reopen Cold War spy post on Cuba in America's 'backyard'
US Reporter Ronan Farrow Calls On Internet Companies To Censor Speech Of People He Doesn't Like
A Shocking First: Mainstream Media Rushes To Defend Dollar Reserve Status
Globalist Mouthpiece Calls For The Entire Planet To Adopt The 'National Identification System' One European Country Has Established
The Electrical Grid May Well Be The Next War's Battlefield

## Systemic breakdown/collapse/unsustainability ##
BMW to recall 1.6 million cars on concerns over Takata air bags
Fuji Heavy to recall Subaru Legacy cars over computer fault
Detroit's future? More cops, firefighters but fewer people
Patio Furniture Thefts Worry East Dallas Homeowners
The UK Ministry of Defence Says Life in 2045 Will Be Unequal and Violent

## Japan ##
Child poverty hits record high in Japan
In the 2012 survey results released on Tuesday, the ministry estimates that 16.3 percent of Japanese aged 17 or under live in poverty. That's up 0.6 percentage points from the previous survey, and a record high since the survey began in 1985.
Japan nuclear plant gets safety OK, may be first to restart
Japan's Holdings of U.S. Treasuries Rose to Record in May
Deadly pig virus pulls more pork imports to Japan
More pigs from Europe and Mexico could be heading to Japan, the world's largest pork importer, as a hog virus outbreak is driving up domestic prices, according to the country's Agriculture Ministry.
Japan's disappearing e-books causes concern
Many Japanese purchasers of e-books are facing a situation inconceivable to owners of conventional texts: They are no longer able to read the books they purchased.
Study: Cesium from Fukushima debris removal likely spread 50 km
Fukushima towns use cameras to halt surge in thefts at evacuees' homes
Clinics as Social Clubs for Retirees Swell Japanese Debt
Pig thieves running hog-wild in Chiba Pref. amid spiking pork prices
Japan builds amphibious force modeled on U.S. Marines
Japan OKs first arms transfer under new rules

## China ##
China Faces Second Corporate Bond Default Amid World's Biggest Debt
China knows it has a problem, but it just can't kick the investment habit
Chinese Steel Expert: No Way Out for Mills Caught in Capacity Crackdown
Shadow-Banking Curb Fuels Loan-Backed Debt Spree: China Credit
China developers at risk as trust funds dry up
Inequality with Chinese characteristics

## UK ##
Bedroom tax bites as low-income tenants choose between 'heat or eat'
Emergency legislation giving police access to phone records becomes law
How British Spies "Seed the Internet with False Info, Control YouTube Pageviews and Manipulate Online Polls"
As UK cost of living rises, young people hit hard
Executive pay 180 times average – as wealth gap increase

## US ##
Retail Sales Flatlining—-Except Autos Running On Subprime Fuel
Why America's Healthcare (Sickcare) System Is Broken and Unfixable
20 Signs The Epic Drought In The Western United States Is Starting To Become Apocalyptic
Dick Cheney calls Obama 'the worst president of my lifetime'
What a laugh. Barack Obama is no worse than the Bushes, Clinton, Carter, or any of the other emperors in the Republicrat Dynasty. The Republicrat program is dedicated to maintaining and growing the Empire, and Obama is faithfully carrying out his duty in the face of insurmountable odds. All empires eventually decline and fall; it's a law of nature, and it's happening to the US Empire now. It just happens that the situation is deteriorating markedly on Obama's watch, and there's virtually nothing he or anyone else can do about it. Dick Cheney thinks that he or someone of his choosing could do a better job of holding the Empire together with duct tape or stovepipe wire or magical incantations, but he's wrong. It doesn't matter who's in command because it's too late. Collapse is now. -- RF
California approves fines for water-wasters
Drought Shaming: Californians Snitch on Neighbors Who Waste Water
California's Drought Will Cost $2.2 Billion and 17,000 Jobs This Year, but 2015 Could Be Worse
Video of the Day – Elizabeth Warren Torches Janet Yellen on TBTF
Janet Yellen Is A Religious Nutcase
Yellen Yap: Silliness, Outright Lies, and Some Refreshingly Accurate Reporting
Fewer gas leaks found in cities with new pipes
Rep. Upton: Use energy as foreign policy tool
But the "abundance" is a mere mirage. Ignorant, myopic leaders make the situation worse for everyone. -- RF
Wholesale Prices in U.S. Increase More Than Forecast on Fuel
Q1 Productivity Collapsed Most In Over 60 Years; Goldman Fears Consequences
Industrial Production Drops, Misses By Most Since January
SUVs and Crossovers Most Popular Vehicles for U.S. Drivers
Has America's Economy Entered the "Coffin Corner"?
Growth slows in the developed nations due to several factors, as debt levels rise. Have we entered the "coffin corner" where we cannot grow sufficiently fast to service our debt?The US economy has repeatedly failed to resume normal growth after the crash. But potentially worse is the decline in long-term growth estimates.
As Fracking Expands, So Does Opposition – Even In Texas
With A Series Of Small Bans, Cities Turn Homelessness Into A Crime
66 Percent of Americans Now Live in a Constitution-Free Zone
Thanks to the militarization and expansion of the "border" region, 197 million Americans now live within the jurisdiction of US Customs and Border Patrol.
Construction of New U.S. Homes Declines on Plunge in South
Move out? Millennials should live with their parents as long as possible

And finally...
Overkill: Man sets fire to house trying to kill spider


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