Tuesday, June 10, 2014


News Links, June 10-11, 2014

## Global Ponzi meltdown/House of Cards ##
Russian companies prepare to pay for trade in renminbi
Standard Chartered doing its part to globalize yuan: chairman
UK Bank RBS Has '£100 Billion Black Hole' & In 'Danger Of Failing' - Bail-Ins Cometh
Pensioners lose savings in government cash grab (Australia)
The federal government has bagged an unprecedented $360 million from household bank accounts since a controversial change to unclaimed money laws, figures from the Australian Securities and Investments Commission show. Pensioners and others saving for a rainy day have reported trying to access their savings only to discover their money had been seized by the government because it had been dormant for three years or more.
The Government Debt Ponzi: Why Bond Markets Are Delusional In Japan, Spain And The US
Spanish 10-Year Bond Yield Lowest Since at Least 1789; Reflections on Absurd Risk Assumptions
Millionaire population soars to 16 million households
These are the best and worst countries for young people to find jobs
Australian GDP per capita growth slowed while oil prices went up (part 2)
170 jobs slashed from BHP Billiton's Mt Whaleback iron ore mine
Afghans worry as U.S. spending boom comes to an end
Dow, S&P 500 extend string of record closes
Asia stocks hit three-year high
5 Ways Global Sporting Events Like Brazil's World Cup Wreck Lives and Exploit the Poor
Inside the $80,000 private-jet safari
Safaris have come a long way since the days of canvas tents, water flasks and bumpy jeep rides. For the super rich, safaris now include private-jet hops, chef-cooked meals, two-bedroom tents with shows and toilets, balloon rides and endless champagne.
Central Banks' Balance Sheets, Interest Rates And The Oil Price

## Airline Death Spiral ##
Alitalia airline may shed 2200 jobs
AEA: Proposed 'massive' hike in German airspace user fees is 'unacceptable'
Federally subsidized air service strains meaning of 'essential'
Jet Blue's Southwest Airlines Collision Is Just The Latest Near-Miss in Air Travel in 2014

## Fault lines/flashpoints/powder kegs/military/war drums ##
Taliban claim deadly Pakistan airport attack
Pakistan's Karachi Airport Under Second Attack
Pakistan forces repel attack near Karachi airport
China says Vietnamese vessels rammed its ships more than 1,000 times
China confirms attendance at U.S.-hosted naval exercises in June
Israel Minister Says Annexing West Bank `Only Sane Plan' 
Israeli Economy Minister Naftali Bennett defended his proposal to annex West Bank territory as "the only sane plan," even as it threatened to tear apart the government.
Militants overrun most of major Iraqi city
Al Qaeda Militants Capture US-Made Black Hawk Helicopters In Iraq
Maliki seeks state of emergency after ISIS seizes 2nd-largest Iraqi city
Witnesses' accounts from Iraq said insurgents belonging to the Islamic State of Iraq and Syria had taken control of military bases, government offices and television stations and had released thousands of prisoners from local jails.
US Turns Blind Eye to Lugansk Massacre
Russia would react to NATO build-up near borders: minister
Russia Is Doing It – Russia Is Actually Abandoning The Dollar
Iran questions nuclear deal deadline as talks 'hit wall'
Rebel General: US Arms to Syria Creating Warlords
China Using Dubai-Style Fake Islands to Reshape South China Sea

## Global unrest/mob rule/angry people/torches and pitchforks ##
Labor Pains: A Rising Threat to Stability in China
Three dead, two wounded in shooting attack on Las Vegas police
Waste and corruption fuel World Cup anger on Brazil's streets
In Brazil, group scores victory in land protest before World Cup
Yemenis block main road over fuel shortage
Thai hunger-striker files charges against junta leader
Boris Johnson to buy three water cannon for Metropolitan police
London mayor justifies the speed of the £218,000 purchase by saying the machines are needed in case of disorder this summer
Uber Protests Poised to Block Roads From London to Madrid

## Energy/resources ##
Skills shortages in a booming market: The big oil and gas challenge
The strains on labor capacity in oil and gas construction markets worldwide are becoming increasingly well known. These strains continue to affect forecasted project costs, and several large capital projects have already been delayed or canceled.
OPEC Meets As World Oil Demand Rises, Production Sputters
Libyan oil output plummeting
Bulgaria says has not abandoned South Stream pipeline project
Shell: Only A Fraction Of Big Gas Export Projects Will Be Built
Britain Paying Businesses to 'Switch Off the Lights' to Avoid Winter Blackouts
Delhi heatwave prompts emergency measures to conserve power
Delhi's government is cutting power to shopping malls, switching off street lights and turning off air conditioning in government offices, after the highest temperatures in 62 years forced the city to take emergency measures to conserve power.
Kurdish Oil Looks For Buyers As Baghdad Warns Them Away
S. Korea shuts down nuclear reactor over problem with control rod
Egypt's energy crisis
Two Months Since Gas Cut, Kyrgyz Losing Patience with Gazprom
Petrol Shortage Hits IOC Pumps (India)
Fuel shortage, especially of petrol, was experienced in the Indian Oil Corporation (IOC) pumps in the state on Monday. Majority of the 1,300 IOC pumps in the state are said to be running short of stock.
Canada lowers oil expectations
The Canadian Association of Petroleum Producers said 2014 estimates for oil production to 2030 are down more than 7 percent from the previous year.
Cars Shed Pounds In Race To Meet Fuel-Efficiency Goals
The Money Problem With Germany's Renewable Energy Law in 3 Charts

## Infrastructure scavenging ##
Cable thieves cause water crisis (South Africa)
Durban is facing a water crisis because a major pipeline collapsed into the uMngeni River on Monday after cable thieves stole its supports.
Cable thieves set to put Joburg in the dark (South Africa)

## Got food? ##
Vermont's new GMO law may upend food industry nationwide
Organic agriculture attracts a new generation of farmers
California Farmers Ask: Hey Buddy, Can You Spare Some Water?
Breakfast is getting more expensive
India: Onion shortage possible soon
Supermarket price wars hurting growers (Australia)
Cheese world fears crackdown on wood boards
Research has shown that wooden cutting boards are cleaner than their plastic counterparts. -- RF
Walmart, Tesco and Costco questioned over slavery in Thailand's seafood export sector
War on Cornfield Pest Sparks Clash Over Insecticide
Pesticide use is surging among U.S. corn farmers who are worried that some insects have become resistant to genetically modified versions of the crop. That's an unexpected reversal. One of the promises of engineered corn when it was introduced 17 years ago was that its ability to kill pests would reduce the need for soil insecticides.
Meet the Tenacious Gardeners Putting Down Roots in "America's Most Desperate Town"
They're not always optimistic about the future of Camden, N.J. But they're committed to it anyway, and they've created one of the nation's fastest growing networks of urban farms.

## Lifestyle Solutions ##
Is A Tiny House Right for You?
Learn more about this growing U.S. movement to achieve financial freedom and create a smaller ecological footprint.

## Environment/health ##
Ew: Watch what happens when you boil Coke down to just its sugar
Two oil spills reported in North Dakota
Exporting U.S. natural gas isn't as "clean" as you think
Raging storm in western Germany disrupts transport, kills one

## Intelligence/propaganda/security/internet/cyberwar ##
NSA: Our systems are so complex we can't stop them from deleting data wanted for lawsuit
The NSA Claims it is "Too Big to Comply" with a Court Order
Forecast: Rise in oil and gas security sector revenues
Cyber crime costs global economy $445 billion a year: report
The U.S. Treasury Department Is Sharing Bank Data With Intelligence Agencies, But With Limits
Thai army ordered Facebook blackout, says telecoms company
Private U.S. report accuses another Chinese military unit of hacking
That Computer Actually Got an F on the Turing Test
Software Slurps Your Facebook Posts to Assess Your Personality
The Coming Digital Anarchy
Sounds great... except that it assumes everyone will have computers or access to them, that the internet will exist (no one will steal cables or sabotage the system), and that there will always be electricity to run everything. In light of growing systemic failure everywhere, I'm not betting on this. It makes more sense to prepare for life in a neo-feudalistic world ruled by super-rich aristocrats and brutal warlords. -- RF
Is Anonymous Dead, or Just Preparing to Rise Again?
Even Toilets Aren't Safe as Hackers Target Home Devices
Fox Is Most Trusted TV News
In a new survey of more than 1,500 U.S. adults, Fox News was the most trusted television news source "to provide accurate information about politics and current events."
Gov't panel approves personal data sales on condition of anonymity (Japan)

## Systemic breakdown/collapse/unsustainability ##
Must read: IEA Investment Report – What is Right; What is Wrong
America's Urban Desolation Row: Now Comes Buffalo
Saline Shortage Plagues Hospitals (US)
Hospitals across the country are struggling to deal with a shortage of one of their essential medical supplies. Manufacturers are rationing saline — a product used all over the hospital to clean wounds, mix medications or treat dehydration. Now drug companies say they won't be able to catch up with demand until next year.
The inevitable demise of the fossil fuel empire

## Japan ##
Japanese Bond Futures Volume Collapses To Zero Even As Service Sector Implodes
Tepco Hires U.S. Company to Filter Water Stored at Fukushima
Pig Virus Raises Heat on Japan's Farmers
How Japan Blew Its Savings Surplus: What A Keynesian Dystopia Looks Like
Financially speaking, Japan is fast becoming a Keynesian dystopia. Its entire economy is now hostage to a fiscal time bomb. Namely, government debt which already exceeds 240% of GDP and which is growing rapidly because even the recent traumatic increase in the sales tax from 5% to 8% does not come close to filling the fiscal gap.
Why Japan Is Cracking Down On Its Tiny Kei Cars
This is incredibly short-sighted, but you can expect governments to make wrong-headed choices like this. -- RF
Families may get benefits for having three or more children
In view of Japan's severe overpopulation, the government should levy fines for third and subsequent children. -- RF
Japan Olympics organizers review Tokyo 2020 plans
All Japanese Financial Roads Lead To The Printing Press: How The Government Pension Fund Plans A Masssive Bond Dump Into A Dead JGB Market
1,132 hospitalized for heatstroke

## China ##
Deadly attack raises concern about growth of 'evil cults' in China
Cities in China blindly building industrial parks
China's real-estate market sees land sales plunge
Amid ongoing central government curbs, China's property market is cooling off dramatically despite the onset of the sector's traditionally "hot season," as both land sales and transaction values plunged in May across 300 major Chinese cities.
Shanghai Island Shows Property Boom Promise as Debt Balloons
China's "Evaporated" Collateral Scandal Spreads To Second Port
China's inflation picks up on rise in food costs

## UK ##
Britain readies 'last resort' measures to keep the lights on
National Grid to begin recruiting businesses who will be paid to switch off if needed to protect consumer supplies as a "last resort"
'Race to the bottom' hits food sales figures amid supermarket price wars
The 'anti-homeless spikes' are just one part of a bleak tale for rough sleepers
Police to buy mainland Britain's first water cannon

## US ##
What's the Source of Soaring Corporate Profits? Stagnant Wages
Chart: What's the real unemployment rate?
Fed Warns The Plunge In "Routine" Jobs Won't Slow Down Anytime Soon
Millennials Have Got One Thing Right: Only 8% Expect Full Social Security Benefits & 51% Expect None
Retirement Savings Fears Grip Americans: "I Don't Have Enough"
The middle class is even worse off than the numbers show
4 in 10 millennials overwhelmed by debt: Study
Four in 10 millennials are overwhelmed by debt, with almost half spending at least 50 percent of their monthly paycheck paying off debt, a new study by Wells Fargo found. More than half—56 percent—reported living paycheck to paycheck.
The Militarization of Police Continues…Machine Guns, Grenade Launchers, Silencers and More
100,000 veterans face long waits to see VA doctors
Personal Income Tax Revenues Show Significant Softening in Q4 2013, Decline in Q1 2014
For two consecutive quarters, state income tax revenues have disappointed. And in the first quarter of 2014, state income tax revenue actually declined.
Obama Unveils Student Loan Debt Bubble Bailout
Military Bases Brace for Slow-Motion War With Climate Change
McDonalds Has Longest Stretch Without Rising US Sales In History
15 Quotes From Our Founding Fathers About Economics, Capitalism And Banking
Too Many, Too Fast: Border Children Swamping Agents
Central America turmoil, not U.S. policies, may be behind surge of child migrants
WORKFORCE: Shortage of workers ahead, study says
Most home builders see shortage of lots to build
Critical Del. I-495 bridge to stay closed through summer
RadioShack burns through cash in failed attempt to stem losses
FAA OKs commercial drone flights over land
Hot oil prices could burn consumers: Energy expert
Ron Paul Backs Urban Goating, Discovers Urban Farming
"At least they're doing something – they are more productive than the politicians," Paul said. "They're not going to hurt anybody. They are just going to eat all the grass and the weeds and the garbage." 
Las Vegas, Back From the Bust, Revives Dead Projects
It's just the setup for the next crash. -- RF
Two Thirds Of Gen X Households Have Less Wealth Than Their Parents Did At The Same Age
Railroads Wrangle With States to Keep Oil Shipments Secret

And finally...
Human face shaped by millions of years of fighting, study finds
Whoops! Spanish zoo vet tranquilizes keeper in gorilla escape drill

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