Thursday, April 24, 2014


News Links, April 24-25, 2014

## Global Ponzi meltdown/House of Cards ##
French April Industry Growth Cools as New Business Stagnates
Newcrest Mining cuts 208 jobs amid cost-cutting
Newcrest Mining Ltd. said it cut hundreds of jobs in Papua New Guinea in a push toward austerity. The decision comes after the company launched a raft of cost-cutting projects across its operations last quarter.
Barclays May Cut 7,500 at Investment Bank, Bernstein Says
Cut, baby, cut! -- RF
Biggest Credit Bubble in History Runs Out Of Time
U.S.-Japan squabble over beef threatens Trans-Pacific Partnership
That Atrocious Deflation Monster
Reserve Bank raises Official Cash Rate (NZ)
The Reserve Bank has raised its benchmark interest rate to 3 percent in a widely expected move that is likely to push up mortgage rates.
The CAT In The Mine Shaft: With Sales Plunging, Stock At 2-Year High
The monumental mining boom of recent years, which was stimulated by a decade of massive money printing by all of the world's central banks, is now over. Indeed, the big miners who form CAT's global customer base are in deep retrenchment, canceling mega projects right and left, thereby wiping out orders for big yellow machines almost entirely. Accordingly, CAT hit its "peak bubble" earnings many quarters ago.
Tricks and treats: Why Caterpillar Just Blew Away Earnings Expectations
The New Aristocracy: Four Seasons launches first hotel luxury jet for $130,000 world tours
The customized interior will feature leather flatbed seats, plush carpeting and contemporary lavatories. It will offer global in-flight Wi-Fi and be staffed with chefs and an onboard concierge to plan spa treatments and tee times for its 52 passengers while en route.
Been There, Done That: Largest Junk Bond Deal Ever Signals Another Bubble Top
National Bank of Greece Capital Raise Maybe Not Enough — S&P

## Airline Death Spiral ##
Budget carrier Peach to cancel 448 flights due to lack of pilots

## Fault lines/flashpoints/powder kegs/military/war drums ##
Pirates hijack Japanese oil tanker along Malacca Strait
Armed pirates boarded and stole the fuel cargo of the Japanese tanker Naninwa Maru 1 on Wednesday in the Malacca Strait off the coast of West Malaysia. The cargo ship was bound for Myanmar with its cargo of around 5 million liters of diesel and the pirates were able to hijack and steal over half of the fuel, transferring them to two boats waiting at the scene of the crime. Three of the Japanese cargo ship's crew members were also taken by the pirates, this according to Malaysian maritime police.
Obama: Senkaku Islands 'within scope' of US-Japan security treaty
Rep. Ron Paul's Fabulous 2008 Speech On Disbanding NATO
Ukraine crisis: John Kerry threatens Russia with more sanctions
Threat Of Tough Western Sanctions On Russia Unnerves U.S., EU Energy Firms
Ukraine Orders New Military Operation in the East
Ukraine forces kill up to five rebels, Russia starts drill near border
CIA Is Quietly Ramping Up Aid To Syrian Rebels, Sources Say
U.S. Clears Egypt For Some Military Assistance
RAF fighter jets scrambled to investigate Russian planes
Fighter jets were scrambled after two Russian military aircraft were spotted approaching UK airspace, the Ministry of Defence (MoD) has said.
Russia, China block Central African Republic blacklist at U.N.
Jihadists Now Control Secretive U.S. Base in Libya
In Support of Dictatorship, US to Send Egypt Military Helicopters
Canada under increasing pressure to come up with co-ordinated NATO response to Russia in Arctic
Afghan hospital guard kills 3 American doctors
Tiny Pacific nation sues 9 nuclear-armed powers
The tiny Pacific nation of the Marshall Islands is taking on the United States and the world's eight other nuclear-armed nations with an unprecedented lawsuit demanding that they meet their obligations toward disarmament and accusing them of "flagrant violations" of international law.
Blowback At Work: How Obama's Drone War Makes More Terrorists
China says it will maintain patrols near Japan's new island base
Code of Conduct on Unplanned Encounters at Sea approved by Pacific navy chiefs

## Global unrest/mob rule/angry people/torches and pitchforks ##
In pictures: Violent scenes as riot police clash with protestors in Rio de Janeiro
Native Americans Hit D.C. to Protest Keystone Pipeline
'Obama Not Welcome': Filipinos Protest Presidential Visit

## Energy/resources ##
Eight Energy Myths Explained
A good read. One persistent myth is that we can seamlessly transition to renewables and dump fossil fuels. It's not just a myth, it's an outrageous fantasy. -- RF
Is the U.S. Shale Boom Going Bust?
Taipower warns of power shortages (Taiwan)
Energy minister: Drought may result in summer electricity shortages (Turkey)
Billions needed to upgrade Egypt's power grid as summer crunch looms
Egypt needs to find at least $5 billion to invest in its dilapidated power grid, a government official told Reuters, highlighting a major challenge for the next president as the country faces the risk of worsening blackouts this summer.
Kiev needs at least $3 billion for gas overhaul
More than $3 billion is needed to overhaul the Soviet-era natural gas transit network in Ukraine, Ukrainian Energy Minister Yuri Prodan said Wednesday.
Russia, India Planning $30 Billion Oil Pipeline Through Xinjiang
Russia is changing its energy export policy vector as strong demand for hydrocarbons in both in China and in India continues to grow. The recent unease in both the U.S. and Europe over Russian President Vladimir Putin's March 17 annexation of Crimea has only added to Moscow's efforts to diversify its markets beyond Europe.
Officials Warn of Explosive Crude Rumbling Across Nation's Rails
Ukraine crisis seen speeding Gazprom deal with China
Gas prices soar to spring record, up 14 cents from last year (Canada)
Ukraine gets $11 billion gas bill from Russia
Fire continues at Wyoming natgas facility, disrupts supply -Williams
Haynesville shale gas production slumps
Canada to phase out rail tankers after 2013 Quebec blast
Major oil and gas firm to list fracking chemicals
Kashagan Field Plans Pipeline Replacement
Iran Likely to Start Gas Exports to Iraq in Next 4 Months
Total sees Russia as biggest source of its oil output by 2020
German Power Premium Shrinking on Solar Surge: Chart of the Day
Weatherford cuts over 3300 jobs
10 warnings: Big Oil stocks crash 50% by 2020

## Got food? ##
Examining the cost of food
A 'third of UK adults struggle' to afford healthy [sic] food (UK)
Cost Of "Breakfast In America" Soars To Highest In Over 2 Years
Vermont ups the ante on genetically modified foods
With Droughts and Disease Hitting Livestock Around the Globe, Animal Health Care Companies More Important Than Ever

## Environment/health ##
Family Wins Fracking Suit in Legal Blow to Industry
'Straight from the Horse's Mouth': Former Oil Exec Says Fracking Not Safe
DNA Nanobots Can Fool the Immune System by Disguising Themselves as Viruses
Study: Antibiotic-Resistant MRSA 'Superbug' Found In US Homes
Doctor's Perspective: Perils and Pitfalls of Corporatized Medicine
Study Links California Drought to Global Warming
Toxic Herbicides Now Common in Pregnant Women's Breast Milk, Placentas, and Umbilical Cords

## Intelligence/propaganda/security/internet/cyberwar ##
James Clapper Embarks on Propaganda College Speaking Tour After Droves of Students Name Snowden "Personal Hero"
Error... Error: NYT Retracts Ukraine/Russian-Photo Scoop
After starting a propaganda stampede – with a lead story about photos of Russian troops purportedly in Ukraine – the New York Times admits the pictures really don't prove much, and one photo was labeled as snapped in Russia when it was really taken in Ukraine
Brazil Becomes One Of The First To Adopt Internet 'Bill Of Rights'
John Forbes Kerry: Secretary Of Bluster, Bombast And Babble
Meet AISight – The Artificial Intelligence Software Being Installed on CCTV Networks Globally
US proposes pay-for-priority Internet standards
Unless Defeated, New FCC Rules Will Put 'Stake in Internet's Heart'
Russia Orders Bloggers To 'Register'; Outlaws Anonymous Blogging, Continues Clampdown On Social Media
Google Glass wearers stir up trouble at the bar
Bars in San Francisco have started banning people from wearing the devices, after a series of attacks on users.
All At Sea: Global Shipping Fleet Exposed to Hacking Threat

## Systemic breakdown/collapse/unsustainability ##
This Is How Empires Collapse
What Google Autocomplete Tells Us About America
Can America Fix 63,000 Bridges?
The answer is no. -- RF

## Japan ##
Obama lands table at world's most exclusive sushi restaurant in Tokyo
$300 sushi. This is how rich elites rub elbows. -- RF
Lots of pomp but no trade deal in Obama's visit to Japan
Weak yen unable to curb ballooning trade deficit
Fukushima completes culling of radioactive herd in hot zone
Obama says bilateral security treaty applies to Senkaku Islands
Hackers barrage Panasonic website
Train companies seek out top end
Central, local governments have no takers for radioactive waste

## China ##
Tales FromThe Chinese Ponzi: An Orgy Of Borrowing, Building and Speculating Like Never Before
China carbon cash party over as U.N. credit stream dries up
China factory activity shrinks for fourth month
60% Of China's Water "Too Polluted To Drink"
Young Chinese Maoists set up hippy commune
China Court Frees Japanese Ship After Unprecedented Seizure

## UK ##
UK row over Christian values and food poverty
London's Gherkin skyscraper enters receivership

## US ##
Some Recovery! Real Core Durable Goods Trend Still 12% Below Prior Peak
CEO pay is out of line: Jesse Ventura
Fed's Wealth Effect: Richest 200 Moguls Made $13.9 Billion Today
Jeb Bush: Thinking of running in 2016
Allen West: Power plant attack a 'dry run'
Cost of Attending a Wedding Surges 75 Percent
A French economist's grim view of wealth gap
The U.S. economy has begun to decay into the aristocratic Europe of the 19th century. Hard work will matter less, inherited wealth more. The fortunes of the few will unsettle the foundations of democracy.
Neofeudalism and the New Aristocracy are staring us in the face. -- RF
Exactly Like 7 Years Ago? 2014 Is Turning Out To Be Eerily Similar To 2007
Effort afoot to dim lights at night
As much as $2.2 billion per year is wasted just in the United States on unnecessary energy costs.
Why Alaska Increasingly Resembles A Petro-State
The façade of a recovering housing market: New home sales collapse and supply of inventory finally reaches six months.
A Stunning 80% Of All New York, Florida And Nevada Condo Purchases Are "All Cash"

And finally...
3,000 types of bacteria found on U.S. $1 bills
Talk about filthy lucre! -- RF
Risqué names reap rewards for some companies ("Holy Crap" breakfast cereal, and more.)
Game That Brings Out the Worst In Us Is a Huge Hit (video)

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