Sunday, January 26, 2014


News Links, January 25-27, 2014

## Global Ponzi meltdown/House of Cards ##
European banks have 84 billion euro capital shortfall, OECD estimates: report
Contagion Spreads in Emerging Markets as Crises Grow
Emerging Market Contagion Spreads; Argentina, Venezuela, Turkey Roundup; 50% Tax on Internet Purchases
Dow drops 318 points on fears of slower growth
'Global gridlock': Study says congestion to jam car sales
20 Early Warning Signs That We Are Approaching A Global Economic Meltdown
Seven Shocking Statistics On Spain's Surging Joblessness
Europe's Modest Proposal To End Unemployment: Slavery
Bank-Run Fears Continue; HSBC Restricts Large Cash Withdrawals
Furious Backlash Forces HSBC To Scrap Large Cash Withdrawal Limit
Rabobank Groep May Cut Up to 2,000 Jobs at Dutch Operations
The obscene lifestyles of the new global super-rich
James Turk: We're Living Within A Money Bubble of Epic Proportion
Argentina backtracks on details of dollar control
Argentina's economy minister is backtracking on details of the government's recent announcements over the easing of currency controls.
Venezuela Enacts "Law of Fair Prices" Banning Profits Over 30%, with 10-Year Imprisonment for Hoarding
Dr. Doom is learning Mandarin
"You have to learn Mandarin," he said. "Mandarin is going to become a key language. That's the future."

## Gold ##
Gold Mint Runs Overtime in Race to Meet World Coin Demand
Market Report: Germany's gold is the story de jour
As Gold Flows From West To East Singapore Emerges As Global Storage Hub
The FT Goes There: "Demand Physical Gold" As One Day Paper Price Manipulation Will End "Catastrophically"

## Airline Death Spiral ##
Hot dog! Aircraft finance on cloud nine as new money pours in
Crisis, what crisis? The good times are rolling in the aircraft finance industry as yield-hungry investors gamble on growing demand for air travel, banishing recent jitters over funding.
Cities investing billions in airport expansions, upgrades
Japan calls off all tours to Thailand
The decision to impose an emergency decree to manage the spreading and intensifying anti-government protests in Bangkok has led to cancellations of all Japanese tours to Thailand, according to Anake Srishevachart, president of the Thai-Japan Tourist Association.
Ryanair plane to Paris looted by angry passengers
US Airways to close Moon flight operations center, affecting 600 jobs
Built less than six years ago, a state-of-the-art flight operations control center in Moon will be closing and the work transferred to Texas, a casualty in the American Airlines-US Airways merger.
Bad news on US Airways a recurring theme
Tiger Airways sells unprofitable Philippine unit to Cebu Air
The aviation market in the Philippines is overcrowded and largely unprofitable, except for market-leader Cebu.
UAE-Philippines flights "will have to be cut back"
Airlines are losing money on the UAE-Philippines route and will soon be forced to cut flights, a leading international aviation analyst organisation has warned.

## Fault lines/flashpoints/powder kegs/military/war drums ##
Bombings rock Egyptian capital, killing 6 people
Egypt calls early presidential election as violence spreads
China sends surveillance jets to East China Sea defense zone
Iraq asks U.S. for Hellfire missiles
UN says 140,000 fled violence in Iraq's Anbar
Airlines halt ticket sales in Venezuela
Freedom House finds decline in political freedom in 2013
Political rights and civil liberties declined around the world in 2013 for the eighth consecutive year, the annual report released by Freedom House said.
Top US commander to ask Obama to keep 10,000 troops in Afghanistan
Specter of Default Stalks Argentina
Israelis Rally Against US Plan For Strategic Jordan Valley
Japan, India agree to conduct naval drill with U.S.

## Global unrest/mob rule/angry people/torches and pitchforks ##
In Ukraine, protests resemble Medieval battle
Ukraine Protests Spread to Other Major Cities
War gear: Weaponry & armor of rioters in Kiev (PHOTOS)
World Cup protests spark violence in Brazil
Thai Demonstrators Block Polling Stations as Early Voting Starts
Violence in Cambodia as protesters demand release of labor activists
Anti-Hollande protesters clash with police
Can water cannons cope with flash mob riots?
Xinjiang Police Kill 6 Rioters, 6 Die in Blast, Tianshan Says

## Energy/resources ##
From "Glut" To Panic: Natural Gas Soars
The other side of the peak: Italy's collapse of oil and gas consumption
Sometimes, peak oil looks like an intellectual game that people keep playing by arguing whether it has arrived or not. But the point with oil is not how much of it is produced, somewhere, but how much you can afford to use.
Here is part of the vicious circle that is precipitating the downhill rush of industrial civilization. -- RF
Report Says Clean Coal Tech Not Present-Day Reality
Rising Costs Hit Balance Sheets of Major Oil Companies
ISO New England Burns Jet Fuel To Keep The Lights On During January Cold Snap
Petrobras to quit huge Brazil oil field -source
Frequent blackouts cost malls up to RM1 million (Malaysia)
Going nuclear—and small—with new type of reactor
Why Shale Oil Boosters Are Charlatans In Disguise
A meditation on how expensive energy (i.e., net energy decline) strangles economies. -- RF
OGP buys another week for restructure
Bondholders of bankrupt Brazil independent Oleo e Gas Participacoes (OGP) have agreed to a one-week extension to its deadline to submit a restructuring plan for the company.

## Got food? ##
Bringing home the bacon may get more expensive: First case of deadly pig virus confirmed in Canada
Railways Favouring Oil, Leaving Canada's Record Grain Crop Stuck on the Prairie
Farmers Abandoning GMO Seeds and the Reason Will Surprise You
Polar Vortex and Food Stamp Cuts Create Perfect Storm of Hunger
Extreme weather wreaks havoc on global food crops

## Lifestyle Solutions ##
The sharing economy: a short introduction to its political evolution

## Environment/health ##
Radioactive Waste Dumped by Oil Companies Is Seeping out of the Ground in North Dakota
After oil companies and state executives in North Dakota hid the news from the public that nearly 300 oil spills occured between 2011 and 2013, radioactive toxic sludge is brimming back up to the surface, bubbling forth from the ground and mixing with fresh water across the state. 
U.S. Vets Exposed to Contaminated Cadaver Parts From Labs
4 Ways Hospitals Can Harm You
Demand for more farmland worldwide poses a threat to the global environment, says UN
The Era Of Genetically-Altered Humans Could Begin This Year
Transcanada Gas Pipeline Explodes, Lights Up Sky
A ban on autos? Major cities consider going carless
Mouthwashes increase heart attack risk, scientists claim

## Intelligence/propaganda/security/internet/cyberwar ##
CNN Says Its Main Facebook, Twitter Accounts Were Compromised
It's 'easy' for Snowden to mask his location during online chats
Told Ya So: NSA's Collection Of Metadata Is Screamingly Illegal
And it's not illegal just because it violates the Constitution – although it does (the Fourth Amendment, specifically). The illegality of the NSA's telephone metadata program is much clearer and even more disturbing than that.  The program is illegal because no law authorizes bulk collection of phone record data. To the contrary, several laws forbid it.
Google's Gmail crashes after major outage
FBI warns retailers to expect more credit card breaches
Developer finds Chrome eavesdropping bug
Any computer running the Chrome browser can be subverted to eavesdrop on conversations happening around it, claims a developer.
Hacked CNN Reports "China Dumps All US Bonds"
France Military To Up Defenses Against Cyberwar
Coke: Stolen laptops had info of 74,000 people
US retailer Michaels warns of possible payment card breach
NSA also serves economic interests: Snowden interview

## Systemic breakdown/collapse/unsustainability ##
Italy's slow collapse: how declining energy consumption affects GdP
Old Idea to Fix Inner Cities Gets New Name: 'Promise Zones'
U.S. No Longer Makes Death Chamber Drugs, And E.U. Won't Supply Them: Time To Revive The Guillotine, Say Pundits
The author's point is not that the US should make death chamber drugs (he opposes the death penalty), but that US technological capability is collapsing. -- RF

## Japan ##
Energy Economist: The burden that Japan is facing in its higher energy costs
Energy costs in Japan are reaching a critical point. The economy is growing too slowly to offset the burden of increased commodity energy imports. Renewables will add further costs.
Japan government forecasts show Abe missing budget-balance promise
Japanese government calculations indicate that Prime Minister Shinzo Abe cannot meet his budget-balancing promise in coming years on the current course, suggesting he may come under greater pressure from fiscal hawks for future tax increases.
US to deploy Global Hawks to Misawa, Japan
Researchers test sail for energy-efficient cargo ship

## China ##
Self-sufficiency in China's grain production promised
Is The China Bank Run Beginning? Farmers Co-Op Unable To Pay Depositors
Shadow banking crisis looms as China Credit Trust faces default
China overtakes Japan for highest rate of death from overwork
Air pollutants soar in 74 cities
Beijing Government End-June Debt Rises 9% From End-2012

## UK ##
UK Employment: No Sign of Economic Recovery, just Desperation
Peers call for proper scrutiny of American military bases in UK used for drone strikes and mass spying
Boomerang generation: The financial implications of young and old returning home
Nigel Farage: 'Skint' Britain cannot afford HS2
Bosses focus on rising level of people dying from cold in Keighley district
Children as young as 10 with mental health problems held in police cells
The number of detentions in cells of under 18s under the Mental Health Act was 385 in 2011, 317 in 2012 and 305 in the first 11 months of 2013, the BBC said a Freedom of Information request had revealed.

## US ##
More McDonald's customers say: "I ain't lovin' it."
Natural gas soars as cold grips homes, drillers
U.S. propane shortage hits millions during brutal freeze
Gov. Walker declares State of Emergency due to cold, propane shortage (Wisconsin)
Jamie Dimon Gets $20 Million For His Worst Year As CEO, Why The Big Raise?
Bank of America's trading practices have been probed, filing shows
Pentagon to launch blimps to guard against cruise missiles
'Polar vortex' costs billions. Open next fuel bill with care.
States where all-cash buying has gone wild for the new feudal lords
All-cash offers crushing first-time homebuyers
Insatiable demand from hedge funds, private equity investors and foreign buyers, all armed with ready cash, are elbowing first-time buyers out of the housing market.
Wal-Mart's Sam's Club to cut 2,300 workers
Retail Sales Cannibalization
The Recent "New High" In Stocks Is As Bogus As The Unemployment Rate
Billionaire Compares Outrage Over Rich In S.F. To Kristallnacht
The new face of food stamps: working-age Americans
Minimum wage bills pushed in at least 30 states
Price for first-class stamp rises to 49 cents
Man dies during 8-hour wait in NYC ER waiting room

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