Thursday, September 03, 2015


News Links, September 4, 2015

## Global Ponzi meltdown/House of Cards ##
Chart Of The Day: World Exports Turn Negative
Tens of thousands of companies fear closure in coming months (Greece)
'Gravity' Is Returning to the Markets — The Rising Cost of Capital
Is the Stock Market Now "Too Big to Fail"?
China's Economic Slowdown, Tumbling Commodity Prices Threaten Global Economy, IMF Warns
Quantitative Tightening Accelerates——EM Central Banks To Dump $1.5 Trillion Of FX Reserves By 2016-End
Australia Facing Recession? Sydney Growth Falls In Second Quarter, Fears Of Further Slowdown
Canada in Recession with Two Consecutive Quarters of Negative Growth
Half-empty office buildings on the rise in Calgary, Edmonton amid oil price plunge
House sales plunge in Calgary as energy sector job losses mount
SILVER MARKET OUTBREAK: Surging Physical Demand & Falling Inventories
Gold Coin Sales Surge 306% YoY In August, Silver Sales More Than Doubled – U.S. Mint
Meanwhile, In Sweden, Banks Are Refusing To Open Savings Accounts
Russia Is Going To Pass A Law Formally Dumping The U.S. Dollar
Will the Fed Have to Save Emerging Markets with QE4?
Liquidity Stress Spikes to Worst Level since Financial Crisis
Why They're Trying To Outlaw Cash
Canary On The Amazon——Brazil's Plunging Economy Reflects The Intensifying Global Deflation
FX Traders Fear "Worst Case Scenario" For Brazil As FinMin Cancels Travel Plans, Rousseff Meets With Lula
Global economic losses from drought to top $8B: Report
"No Safe Assets Anymore" So "Focus On Precious Metals" – Faber
UniCredit Said to Weigh Job Cuts in Sign of Weak Profit Outlook
UniCredit SpA is considering cutting another 10,000 jobs, bringing the total to more than 15,500 over four years, said people with knowledge of the discussions, a sign Italy's biggest lender sees few options to increase profit.
As Asia depreciates, Japan megabanks fear for their loans
Japanese banks, which focused on expanding in emerging Asian nations as yields fell to record lows at home, are now exposed to some of the world's worst-performing currencies.

## Airline death spiral ##
Air rage: Southwest Airlines diverts flight after 6 passengers loudly rebuke attendants
Thomas Cook flight to Turkey diverts over "disruptive female passenger"
China's flights hit by new disturbance: fighting pilots
Flight from Vegas to Germany diverted over unruly passenger
CanJet Airlines ceases flight operations effective immediately
Why Are The Airlines Splurging and Spending Money On Premium Services?
Safety questions hound Allegiant Air
JetLite to merge with parent carrier Jet Airways
How much do taxpayers support airlines?
Russia's two biggest airlines to combine; Aeroflot to buy Transaero
Frontier Airlines offers $1 flights to try and fill seats
Lufthansa CEO defends cost cuts as pilots threaten more strikes
Sri Lanka ex-president's vanity airport is used to store rice
MPs seek answers on fresh SAA losses
Labor Day flying: behind the scenes at a very busy airport

## Fault lines/flashpoints/powder kegs/military/war drums ##
US launches secret drone war against Islamic State in Syria
Families of US military, diplomats near Incirlik given offer to depart Turkey
Hundreds of military and diplomatic family members near Incirlik air base in southern Turkey are being told they can leave the country, U.S. officials said Thursday, citing increased worries about violence in the region.
Boeing Plane Orders Boom -- With Help From the U.S. Navy!
Civilian 737s ordered for military conversion account for nearly 20% of new plane orders.

## Global unrest/mob rule/angry people/torches and pitchforks ##
Russia, Belarus, Serbia conduct military drill to fight protesters
Governments around the world are preparing for mass unrest. -- RF
"There was a definite trend with several utilities talking about weak wind resources," said Shahriar Pourreza, a New York-based analyst for Guggenheim Partners LLC. "This isn't something that has been major in the past so definitely a phenomena worth following to see if it's sustainable or an anomaly."
Could Too Many Wind Turbines Offer Diminishing Returns?
A new study conducted by an international research group has raised the question of what happens when too many wind turbines begin affecting the low atmosphere.
Indeed. Industrial civilization can't do without it. -- RF
Store all you want, but without oil (see above) and other fossil fuels, it's back to the 19th century. -- RF
The utilities won't have the money, anyway. -- RF
Nuclear renaissance: South Carolina commission okays cost overruns for nuclear plants
Construction costs for two new nuclear reactors in South Carolina will go up almost $700 million in 2007 dollars and completion of the plants will be delayed three years, according to a settlement agreement approved on Wednesday by the South Carolina Public Service Commission.
Financial Sector To Cut Credit Supply Lines For Oil And Gas Industry
More U.S. oil and gas companies could come under financial distress in the coming months as crucial hedging protection begins to expire.
Smart move by Indonesia. High-speed rail is energy-consumptive and unsustainable. -- RF
Oman reschedules gas exports over power snags
Oman is rescheduling some of its liquefied natural gas (LNG) exports as rising domestic demand for power generation causes gas shortages that are hurting its industry, company officials said.

## Got food? ##

## Propaganda ##
US/NATO Embrace Psy-ops and Info-War
The U.S. government and NATO have entered the Brave New World of "strategic communications," merging psy-ops, propaganda and P.R. in order to manage the perceptions of Americans and the world's public.

## Systemic breakdown/collapse/unsustainability ##
The Dying Institutions Of Western Civilization
The robots will do fine... until there is a power failure. -- RF

A disaster in the making. Just imagine the leaks, hacks, and abuses. Ultimately, however, all electronic data-mining and war-on-cash schemes are doomed to failure once the blackouts begin. -- RF
The IEA chief ought to have his head examined. -- RF
Waste of money. -- RF

Tuesday, September 01, 2015


News Links, September 2, 2015

## Global Ponzi meltdown/House of Cards ##
Global factory growth at two-year low - PMI
Greece Loses 17,000 Jobs in July, Most Since 2001
China Slowdown's Next Victim——Asian Supply Chain
Asian Markets Tumble As China's Manufacturing Output Falls To Lowest Level In Three Years
China manufacturing contracts, Korea exports slump as Asia's woes deepen
Europe shares set to follow Asian losses as China PMIs stoke growth fears
It Gets Even Uglier In Canada
Canada Economy Shrinks for 2nd Straight Quarter on Oil Shock
Is China Dumping German Paper Now? Bund Prices Are Collapsing
Chile's Industrial Output Declines and Jobless Rate Rises
Macau Economy Slumps 26.4% as Anti-Graft Crackdown Deters Gamblers
Australia's Central Bank Leaves Interest Rates Unchanged At 2%
Angola Economic Woes: Chinese Slowdown, Global Crude Glut Hit Angola's Oil-Dependent Economy
Southeast Asia's Biggest Companies Risk $392 Billion Debt Burden
South Korea's Exports Fall Most Since 2009 as China Slows
Collapse of Abenomics Threatens Global Stability
Brazil's Epic Era of Splurging Is Over
Here's How High Oil Prices Must Climb To Stop Saudi Arabia's Budget Bleed
Dow plunges 470 points as oil sinks 8% in grim September debut

## Airline death spiral ##
Hong Kong's unpopularity shows in airline balance sheets

## Fault lines/flashpoints/powder kegs/military/war drums ##
Malaysian Prime Minister Najib Razak Rejects Calls For Resignation, Says Protests Reflect Lack Of Maturity
Petraeus: Use Al Qaeda Fighters to Beat ISIS
What could possibly go wrong? -- RF
Schumer's Troubling Mideast Record
In trying to torpedo the Iran nuclear deal, Sen. Charles Schumer is continuing his longstanding role as a front man for U.S. neocons and Israeli hardliners who favor a Mideast strategy of violent "regime change" over negotiated solutions.
Sweden Joining NATO? Centre Party Now In Favor Of Becoming Part Of International Alliance
Yemen's Hidden War: How the Saudi-Led Coalition Is Killing Civilians

## Migrants/refugees ##
Austria inspects trucks for migrants, creates 15-mile backup
Hungary shuts down rail traffic for westward-bound migrants
Hungary suspended all traffic from its main rail terminal Tuesday and cleared the station of hundreds of migrants trying to board trains for Austria and Germany - the hoped-for end destinations in their flight from Mideast turmoil.

## Global unrest/mob rule/angry people/torches and pitchforks ##
Tens of Thousands Protest in Lebanon as 'You Stink' Campaign Issues Ultimatum

Electricity generated by US wind farms fell 6 per cent in the first half of the year even as the nation expanded wind generation capacity by 9 per cent, Energy Information Administration records show.
Aker Solutions to Slash up to 500 More Jobs
Aker Solutions will be further reducing its Norwegian subsea workforce due to a "continued market slowdown".
Oilfield services firm Aker Solutions announced Tuesday that it will be further reducing its Norwegian subsea workforce due to a "continued market slowdown."
Cut, baby, cut! -- RF

## Intelligence/security/internet/cyberwar ##

## Propaganda ##
Ukraine Rightists Kill Police; Putin Blamed
As rightists riot in Ukraine – killing three policemen in a protest against making any concessions to ethnic Russians in the east – The New York Times had to move nimbly to again foist all the blame on Russia's President Putin, but the Times was up to the propaganda task.
Why Johnny can't understand climate: functional illiteracy and the rise of "unpropaganda"

## Systemic breakdown/collapse/unsustainability ##
5 Trends That Are Shredding the Global Economy
Friday night lights, provided by petrochemicals
Many athletes, from Pop Warner to the NFL, participate in American football each fall. Petrochemicals play a vital role in the game, from the plastics in the equipment used to play the sport to the artificial turf to the souvenirs and cups used for beverage consumption every game.
When new sewer lines were laid here in my neighborhood, I noted that the pipes were all PVC. That gives you an idea of the (short) lifetime of this sewer system, and is also an indication that planners (mistakenly) believe they will be able to replace the pipes 20 or 30 years down the line. -- RF
The Great Unraveling
The ideological and physical hold of American imperial power, buttressed by the utopian ideology of neoliberalism and global capitalism, is unraveling.
Or war or economic collapse. Pick your poison. -- RF

## China ##

## UK ##
Local authorities 'cannot cope with further cuts'
Councils in England and Wales cannot cope with further funding cuts because government policies have already left with them with a black hole of almost £10bn, the Local Government Association is claiming.
Britain Announces Investment in Scottish Naval Base
Police force could lose 22,000 jobs under new spending cuts
Major reduction in funding could see number of police officers in England and Wales fall to 40-year low

## US ##

And finally...
Intelligent robot tells interviewer, 'I'll keep you safe in my people zoo'
Job offer rescinded after applicant sends nude selfie

Sunday, August 30, 2015


News Links, August 31, 2015

## Global Ponzi meltdown/House of Cards ##
Money Pours Out of Emerging Markets at Rate Unseen Since Lehman
Moody's cuts 2016 global growth forecasts
Brazil's Recession Marks The Beginning Of A Long, Painful Contraction: Argentina, Venezuela, Rest Of Latin America Could Be Affected
China Slowdown Fuels Uncertainties For Chile's Copper Industry, Violent Labor Strife
Carmakers scramble to adapt to slowing Chinese demand
Uh-oh, Canada. China Pales as a Risk to U.S. Growth
Demand Surge and Shortages of Bullion as Stocks Fall Sharply
The Great Unwind, China Begins Dumping Treasuries
Fed Up Investors Yank Cash From Almost Everything Just Like 2008
Why Are the Four Richest Men in Mexico Getting Crushed?
Trouble South Of The Border: Mexico's vulnerabilities pose a huge risk to the U.S.
3 reasons markets lost faith in China's economy, at a glance
Why The Great Petrodollar Unwind Could Be $2.5 Trillion Larger Than Anyone Thinks
Since 2014 Foreign Central Banks Have Withdrawn 246 Tons Of Gold From The NY Fed

## Airline death spiral ##
Newly unearthed Etihad documents prove extensive, ongoing subsidization scheme, says Partnership for Open & Fair Skies
SkyGreece temporarily ceases all operations as hundreds remain stranded
Airline fears of pilot shortage spark Congress fight over required training
FAA Years Behind in Building Database of Pilots' Records
Pakistan's 36 airports on high alert over retaliation by militant groups
Myanmar airport project delayed four years on lack of funds
United Airlines to revamp scheduling to fight flight delays

## Fault lines/flashpoints/powder kegs/military/war drums ##
Now NATO's Prepping for Hybrid War

## Global unrest/mob rule/angry people/torches and pitchforks ##
Arsonists in Germany hurl Molotov cocktails into asylum-seekers' apartment

## Energy/resources ##
UK's Carillion says cheap oil could hamper Gulf expansion plans
RWE shareholder expects dividend cut by as much as 50 pct - WAZ
The German city of Essen, one of RWE's municipal shareholders, expects the utility to slash its dividend by as much as half in the face of the worst crisis in its 117-year history.
More Oilfield Services M&A Likely On The Way
Whether finally seduced by the relief a merger can usher in or surrendering to the security of making a joint venture permanent, the more distressed companies in the oil patch are de-stressing themselves by succumbing to the safety that mergers and acquisitions (M&A) offer.

## Infrastructure scavenging ##
Opium production in Mexico increased by 50 per cent in 2014, as farmers tried to meet the growing levels of heroin use across the border in the US.
Medical tourism flourishing in Asia

## Intelligence/security/internet/cyberwar ##
When Dan Rather confronted politicians, it was journalism. When Jorge Ramos does, it's "crossing the line"
West Point Professor Says U.S. Military Should Target Legal Critics of War on Terror
An assistant professor of law at the U.S. Military Academy at West Point has argued that legal scholars critical of the war on terrorism should be attacked as "treasonous" enemy combatants.
Snowden may get freedom prize at Norway-Russia border
The Norwegian academy which gave Edward Snowden a free speech prize is planning to hold a "symbolic ceremony" for the whistleblower at the country's far-northern border with Russia.

## Propaganda ##
How Close Was Israel to Bombing Iran?

## Systemic breakdown/collapse/unsustainability ##
City analysts: Olympic Village may 'significantly exceed' cost estimate (Los Angeles)
Like the recent fiasco with the cancelled stadium in Tokyo, this shows that planners and politicians still don't see that net energy decline is making projects cost far more than anticipated. -- RF
Of course that can be said for developed countries, too. Everyone should take a look in the mirror. -- RF
"Our entire infrastructure would collapse."
Manipulation = Fragility
In markets distorted by permanent manipulation the most powerful incentive is to borrow as much money as you can and leverage it as much as you can to maximize your gains in risk-on asset bubbles.
The recent closing of the MacArthur Lock has heightened concerns about a piece of the nation's manufacturing supply chain that, if shut down for any length of time, could have catastrophic effects on the U.S. economy with ripples that could devastate the global supply chain for those manufacturers who rely on timely shipments of steel.

## Japan ##
Abandoned homes dot suburbs of Tokyo
China Entering Ugly Recession, Not Just a "Hard Landing?"
A "hard landing" would be tough for China. But it would still mean economic growth, if very slow growth by Chinese standards. At worst, it would mean stagnation. But now, evidence is piling up that the economy is actually shrinking.

## UK ##
Theresa May says only migrants with jobs should be let in to UK
Home secretary calls for rethink of principle of free movement in EU, blaming borderless system for exacerbating Europe's migration crisis

## The Candidates ##
Trump Pledges To Abolish Gangs, Will Make People 'Happy' With Independent Bid Decision
Republican presidential hopeful Donald Trump Saturday pledged to give greater power to police officers to "get rid" of gangs.
This is sorry, but in truth there isn't a single candidate who knows anything about energy. -- RF
He'd have to contract the job out to the Chinese. They're good at building long walls. Oh, and did I mention the "Canadian threat"? -- RF

And finally...
Joe Biden's Son Blames "Russian Agents" For Ashley Madison Profile

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