Tuesday, June 03, 2014


New Links, June 3-4, 2014

## Global Ponzi meltdown/House of Cards ##
Ecuador to Transfer More Than Half its Gold Reserves to Goldman Sachs in Exchange for "Liquidity"
BMW plans to cut 100 million euros of German labor costs per year: paper
Two-Thirds Of Global PMIs Decline In May
Thai army rulers prepare emergency economic measures
Pay rises for senior bankers hit 10%
Barclays cuts several hundred investment bank jobs: sources
Olympics money pit scares off cities
Bitcoin is back: Price quietly jumps 80%
Russia, China to create joint rating agency
Gold Price Manipulation Was "Routine", FT Reports
Smoke and Mirrors Hide the Collapse in Corporate Profits
Bond Yields Lowest Since Napoleon Are No Comfort to Europe Amid Deflation Fight

## Airline Death Spiral ##
Japan Air Sees Tokyo Capacity Glut as It Reviews Regional Fleet
Airlines' Earnings Surge Masks Narrow Margins, IATA Says
Airline industry earnings that are forecast to reach a record this year on surging U.S. gains mask margins too thin to provide any real resilience to economic setbacks, the International Air Transport Association said.
Airlines make only $6 per passenger
Is Air Travel Becoming 'for Rich People' Only?
We're flying into an aviation skills crisis, with safety under the radar
IATA: Airline profits in 2014 to be hit by China
Airline bookings to Thailand nosedive
Malaysia Airlines seeks more cost-cutting to survive crisis
Elastic Wings Promise Greater Aircraft Fuel Efficiency
Alitalia job cuts seen at 2,400-2,500: labor minister

## Fault lines/flashpoints/powder kegs/military/war drums ##
50 Years Of Plunder By The Egyptian Military Oligarchs Continues—-So Does Billions In US Aid Which Keeps Them In Power
Kuwait emir al-Sabah visits Tehran to improve relations
Obama unveils $1B security plan aimed at Russia
West ponders how to stop - or fight - a new Great War
U.S. troop leader in South Korea wants deployment of new missile defense against North
The F-35 Fighter Plane Is Even More of a Mess Than You Thought
Report: Chinese Cruise Missiles Could Pose Biggest Threat to US Carriers
Two Ukraine Helicopters Shot Down: Watch As Gunship Engages Eastern Militia In Intense Fighting
Europe faces 'colossal humanitarian catastrophe' of refugees dying at sea
Spain: King abdicates for his more popular son
The Saudi Dynasty Succession Crisis to Come

## Global unrest/mob rule/angry people/torches and pitchforks ##
Bring Your Own Guillotine: Anti-Monarchy Protests Break Out Across Spain
First tar sands shipment to Europe sparks protests
Anti-tar sands demonstrations have begun outside a Spanish refinery that will receive the first major European shipment of Canada's tar sands next week, and activists are refusing to rule out direct action to stop it.

## Energy/resources ##
IEA: $48 trillion needed to satisfy global energy demand
Ain't gonna happen. The rising cost of primary energy will severely limit investment in energy systems. Here's where the power crunch starts. -- RF
Europe's Power Supply at Risk From Investment Dearth, IEA Says
Electricity in peak hours to get costlier
Energy crisis warning for WA
Shale bust: QE At Work: Pouring Cheap Debt Into The Shale Ponzi
The Questionable Staying Power Of The U.S. Shale Boom
Why are solar panel prices starting to rise?
The price rise is good news for manufacturers and their investors who have suffered massive losses after a slew of bankruptcies. However, industry supporters including developers and environment groups will not want sustained higher prices, as they try to maintain growth in demand for solar power which is still more expensive than fossil fuels.
France's nuclear energy costs to soar
The cost of nuclear energy in France is to increase sharply and continue to increase over the next few years, France's official auditor says, predicting that investment to prolong the lives of ageing power stations will push up electricity bills.
The New "Water Barons": Wall Street Mega-Banks are Buying up the World's Water
S.Korean tax on coal imports for power to start from July
India's Modi faces battle with states to fix power crisis
Glencore to cut 124 jobs at Namibia zinc and lead mine
Global mining and commodity trading company Glencore (GLEN.L) said it was cutting 124 jobs, or about 20 percent of the staff, at its Rosh Pinah zinc and lead mine in Namibia to control costs.
Here's An Unexpected Jump in Base Metals Prices
Russia, Ukraine examine gas plan to avoid winter supply crisis
Oil Tanker Hauling Disputed Kurd Crude U-Turns in Atlantic Ocean
Iranian oil exports on course to blow past limits
Iranian oil exports are on course to run well above the levels the Obama administration said they would when the U.S. agreed to allow some crude shipments in exchange for limits on Iran's domestic nuclear program.

## Infrastructure scavenging ##
Metal thieves pillage French wind turbines
A sophisticated network of metal thieves has targeted some 20 French wind turbines in a new looting trend, scaling the near 40-metre-high structures and stealing up to one tonne of metal from a single engine, Le Figaro reported Wednesday.
In addition to the high cost of primary energy, scavenging will be another major factor that brings down power grids and dismantles power-production hardware, including renewables. Prepare now for a future without electricity. -- RF
159 cable thefts every day (South Africa)
Thieves try to sell 550 flagpoles used for Memorial Day

## Got food? ##
Japan to Import Emergency Butter Shipment
Meat prices must rise before cultured meat is viable, say researchers
'Quiet crisis' is confronting agriculture, as amount of farmland continues to decrease
The amount of U.S. farmland is decreasing at a rapid rate, "with the country losing three acres of farmland every minute," at a time when experts say more land will be needed to grow enough food to feed the world, reports Agri-Pulse, a Washington newsletter. The recently released Census of Agriculture reports that American farmland dropped from 987 million acres in 1982 to 914.5 million acres in 2012, and "The U.S. is losing farmland at a fairly rapid pace to strip malls, parking lots, highways and other forms of development."
1 in 5 restaurant employees work with norovirus symptoms (US)
Why more food industry mergers are likely to come

## Lifestyle Solutions ##
Multiple fast-food locations in a neighborhood may undermine happiness

## Environment/health ##
Nagasaki one day after the atomic bombing seen in newly-discovered pictures
Dangerous Pesticides Are Showing Up More and More in Our Urine and Breast Milk
France experiments with paying people to cycle to work
Carbon Dioxide Concentrations Reach 400 Parts Per Million
Saudi Arabia Reveals Surge In MERS Deaths: One Third Of Infected Patients Die
Pine Beetles Ravaging Forests Strain Budgets in U.S. West

## Intelligence/propaganda/security/internet/cyberwar ##
Big Data knows you're sick, tired and depressed
US charges Russian national for bank cybercrime
Federal agents knock down Zeus Botnet, CryptoLocker
Dangerous botnet 'will bounce back', warns expert
In Defense of Edward Snowden Against John Kerry's Slanderous Attacks
Port Authority to Review Doubled Police Costs Since 9/11
The authority, which also owns the World Trade Center site where the twin towers stood, spends more to police its assets than to maintain them.
White House Launches Propaganda At TROLL Level
Is your computer secretly a bot? More than 1 million users need to scramble to protect their PCs
For Past 20 Years, Israel Spied on U.S. Communications During Syria, Palestinian Peace Talks
This is Huge – Bitcoin Apps May Finally be Coming to Apple
Eric Holder Announces Task Force to Focus on "Domestic Terrorists"
Volume of encrypted email rising amid spying fears
NSA chief says agency not collecting visual images of U.S. people
Iran's oil protected from cyberattacks
Ellsberg: All the crimes Nixon committed against me are now legal
Up to 200,000 PCs infected with online banking virus in Japan

## Systemic breakdown/collapse/unsustainability ##
America's Insatiable Demand For More Expensive Cars, Larger Homes And Bigger Debts
125 years after Johnstown flood, U.S. dams need expensive fix
Baltimore Curfew, One of Strictest in the Country, Draws Concern

## Japan ##
Japan Base Wages Decline 23 Months In A Row
Japan's real wage down 3.1% in April, largest fall since Dec. 2009
Officials push to scrap limits on SDF missions
Japan to put policy emphasis on maintaining 100-million population over 50 years
The Japanese government will focus on maintaining a national population of at least 100 million over the next 50 years as the basis for medium- and long-term economic growth, a draft of its new basic economic and fiscal policies revealed Monday.
This is madness. This population level far exceeds the carrying capacity of Japan's ecosystem, meaning that Japan will either continue depending on other countries' ecosystems for support, or lots of people will starve. Guess which. -- RF
Abe, LDP agree to cut Japan's corporate tax rate from FY 2015
Mercury hits 90-year high in Hokkaido
Over 1,600 rushed to hospital due to heat exhaustion last week
Construction of underground ice wall begins at Fukushima nuke plant under wary eyes
Nuclear safety inspectors first to flee stricken Fukushima plant
Young Japanese least hopeful for the future

## China ##
S China Braces for more Rain
Chinese banks ditch US providers for Alibaba's Aliyun
One-third of Chinese infant formula production permits not renewed: SFDA
Major China Cities See Real Estate Bubble Deflate
Making Solar Panels in China Takes Lots of Dirty Energy

## UK ##
UK average house price hits all-time high, according to Nationwide
NHS patients 'could be forced to pay bed and board'
Student complaints to universities rise to 20,000
Complaints and appeals recieved by universities rise by ten per cent as students paying £9000-a-year are forced to watch lectures online and travel miles between campuses

## US ##
The Velocity Of Money In The U.S. Falls To An All-Time Record Low
QE, Bailouts, And Families Struggling to Buy Food
The Destroyer of Fake "Recoveries": Unintended Consequences
Wary governments shake up municipal bond landscape
Over 40% of Nearly 2 Million Modified Loans Facing Resets are Underwater
Half of Americans can't afford their house
Cash Deals for Homes Reach Record With Boomers Retiring
McMansions Are Back And Are Bigger Than Ever
The US Housing Market's Darkening Data
Construction Spending Growth Misses By Most In 14 Months
Survey Reveals Americans' Financial Future: We're Not Ready
According to a new survey of 326 middle-income Americans and 314 baby boomers by personal finance site MoneyTips.com, scary is the future of the country.
Detroit Cuts Off Water To Thousands Unable To Pay Their Bills
For The First Time Ever, More Than Half The Members Of Congress Are Millionaires
The Big Losers in the California Shale-Oil Fiasco
Rural county protests fracking in Nevada
Next up at the ballot box: Undreaming California
Tuesday, voters in Del Norte and Tehama counties will consider a measure calling for separation from California and the formation of a new state. Supporters are hoping to generate momentum for pulling together portions of northern California and southern Oregon into an entity to be called Jefferson.
Study: Confirmed U.S. child maltreatment is dramatically underestimated
Obama acts on flood of children crossing U.S.-Mexico border; FEMA to coordinate aid
The "Nuclear Solution" to Underfunded Public Pensions
Video of the Day – Teen Makes Nancy Pelosi Squirm with His Question on the NSA

And finally...
Russian dairy crosses out devilish barcodes in battle with Satan

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