Thursday, November 21, 2013


News Links, November 21-22, 2013

## Global Ponzi meltdown/House of Cards ##
EADS to cut up to 20 percent of Airbus Defense & Space jobs: paper
Secret TPP Negotiations Resume in Salt Lake City
Last week's publication of the controversial "Intellectual Property" chapter by Wikileaks confirmed our worst fears: the TPP carries draconian copyright enforcement provisions that threaten users' rights and could stifle innovation well into the 21st Century. Public opposition to the TPP continues to grow as a result of the leaked document; an opaque policymaking process that seems geared towards appeasing Big Content does not provide much in the way of legitimacy.
Timing the Collapse: Ron Paul Says Watch the Petrodollar
China's planned crude oil futures may be priced in yuan - SHFE
The Shanghai Futures Exchange (SHFE) may price its crude oil futures contract in yuan and use medium sour crude as its benchmark, its chairman said on Thursday, adding that the bourse is speeding up preparatory work to secure regulatory approvals.
For The First Time In Four Years Caterpillar Posts Negative Retail Sales Across The Board
Forget the housing market — export slowdown is biggest risk to Canada, economist says
Anxiety Over Asset Bubbles From Homes to Internet Rising in Poll
Asset bubbles are forming in Internet and social media stocks as well as in the housing markets of London and China, according to the latest Bloomberg Global Poll.
Here's Why The Philippines' Economic Miracle Is Really a Bubble In Disguise
Eurozone business index shows slowing growth
Eurozone Flash PMI Shows Slight Growth, France Back in Contraction
The rosy eurozone growth estimates of a few months ago have bitten the dust already with the possible exception of Germany.
Consumer confidence drops in Europe
Europe bank payouts capped as capital bar keeps rising
Deflation Is Crushing QE Right Now
Gold pours into China to meet record demand, bypasses Hong Kong
China Imported An Additional 133 Tonnes Of Gold Directly in 2013
Gold bars worth $1.1m found in plane toilet in India
Tough Year For Many of Indonesia's Richest
Bulgarian informal ''grey'' economy is on the rise
The Czech Republic Joins in the Currency Debasement Race

## Airline Death Spiral ##
Israel's El Al airline sees silver lining in dark clouds of competition
Fuel Efficient Jets Help World's Largest Airline Cut Annual Costs by $2 Billion
Dubai Air Show: Plenty of planes, but is there enough airspace?
"Delays are becoming common place. And delays will only grow as operations grow," warns Hussein Dabbas, regional director of the International Air Transport Association. "If we don't stop the proliferation of delays, the system will slowly disintegrate - bringing down the efficiency of airlines with it."
Gulf carriers eye prize as Australia airlines duke it out
World's longest flight lands for the last time

## Fault lines/flashpoints/powder kegs/military/war drums ##
Iraqi officials: Wave of attacks hits commercial areas in Baghdad, killing at least 24 people
Three Saudi warships arrive in Egypt for joint exercises
Fears about Iran forge 'strange alliance' between Israel and Gulf nations
Meanwhile, nothing is done about the nuclear arsenals and ambitions of other countries in this region. By and large, the topple-Iran effort is still intact. -- RF
Iranian envoy speaks of difficulties at nuclear talks, says 'serious' negotiations stalled
Israel to stop issuing birth certificates to babies born to foreigners
40,000 NATO troops to stage massive European war games
Pirates Looting Cargoes With AK-47s Threaten African Oil: Energy
Kenya: Pirates Attack Ships On the Indian Ocean
SHIPPING experts have warned of an increase in piracy after five unsuccessful attacks in the Indian Ocean were reported this month alone. On Sunday, a Danish-owned oil tanker, Torm Kansas, came under attack while en route to South Africa from India but managed to fend off the suspected Somali pirates off the Somali coast.
Saudi Arabia says 6 shells fall near border post close to Kuwait
Watchdog inviting private companies to destroy some Syrian chemicals
The global chemical weapons watchdog is inviting private companies to bid to get involved in destroying Syria's stockpile of toxic agents and precursor chemicals.
Car bomb in northern Iraq kills 25
Ukraine drops plan to go West, turns East to Moscow
Ukraine abruptly spurned an historic new alliance with its western neighbours on Thursday, suspending an imminent trade pact with the European Union and saying it would revive talks on a deal instead with Russia, its old Soviet master.
U.S. Drone Kills Six in Pakistan as Khan Vows to Thwart NATO
US Envoy: Attacking Iran Still an Option

## Global unrest/mob rule/angry people/torches and pitchforks ##
Hollande's Tax Rebels Underscore Mounting Opposition

## Energy/resources ##
Saudis launch major gas drilling in Red Sea
Saudi Arabia is fast-tracking its first major offshore natural gas fields in the Red Sea, a high-priority project that's seen as the start of a massive new energy program, off the kingdom's west coast. The objective is to produce gas for power-generation to free up for export growing volumes of oil that are being used domestically to cope with a growing domestic demand.
Bankruptcy seen looming for Finnish nickel miner Talvivaara
Long term, however, Transocean cited predictions for 1,250 deepwater wells to be drilled in 2025, compared with about 500 this year. To meet this, there are 110 new rigs under construction, but about 120 were due to be replaced, and Bonno saw potential for 215 additional deepwater rigs to be built.

## Environment/health ##
Nuclear Power's $750 Million Reprieve Doesn't End Dilemma

## Intelligence/propaganda/security/internet/cyberwar ##
Inside America's Plan to Kill Online Privacy Rights Everywhere
The United States and its key intelligence allies are quietly working behind the scenes to kneecap a mounting movement in the United Nations to promote a universal human right to online privacy, according to diplomatic sources and an internal American government document obtained by The Cable.
FireEye Links Chinese Cyberattacks to Single Source
Unfortunately we are just seeing the beginning of such absurdities as political and economic institutions around the world attempt to stifle dissent and squelch unfavorable opinions and information. -- RF
Hard to decide what category to post this in. I went with propaganda. But it's so absurd that it could have been the "And finally..." item just as well. Whatever, it's an excellent indication that neofeudalism and its attendant redistribution of wealth are developing apace: It's safe to assume that upper management aristocrats are getting fat paychecks and bonuses, while the serfs are advised how to do without. You know —eat, drink, and be merry, only without the eating and drinking. Have a nice day! -- RF
Although I do not agree with everything in this article (for example, the author discounts the possibility of another oil crash), it is absolutely spot-on in noting that net energy is declining. I am not a subscriber and cannot read the second part of the article, but the implications of net energy decline and decreasing investment are huge. -- RF
Krugman Goes Splat

## Japan ##
Data appearing Wednesday on the Finance Ministry web site showed the yen depreciation and higher fuel imports more than offset a big jump in exports during October.
Fukushima meltdown is warning to the world, says nuclear plant operator
Naomi Hirose, president of the company that runs Fukushima, said Britian's nuclear industry must be 'prepared for the worst'
Spanish court orders arrest of Jiang Zemin, Li Peng
Beijing has demanded clarification from Madrid after Spain's National Court on Tuesday issued an international arrest warrant for China's former president Jiang Zemin and former premier Li Peng for alleged genocide in Tibet.

## US ##
Neofeudalism: The Red Queen's race and the real winners from Quantitative Easing: Celebrating the five year anniversary of redistributing wealth to the top.
The Federal Reserve is celebrating its 5 year anniversary of Quantitative Easing.  As the stock market reaches record highs, it is useful to examine the real winners from QE.  Luxury good purchases have done extremely well during this period as income inequality in the nation has reached levels last seen during the Gilded Age.  Yet for the average American worker, salaries are stagnant and wage growth is nearly non-existent.

And finally...
Naked Georgia man busted with cocaine wearing only high heels and turban

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