Friday, June 13, 2014


News Links, June 12-13, 2014

## Global Ponzi meltdown/House of Cards ##
World Bank: 'Now is the time to prepare for next crisis'
The Washington-based organization, a United Nations agency which provides loans to developing countries, has downgraded its global growth estimates for this year to 2.8 percent, from a January forecast of 3.2 percent.
12 Numbers About The Global Financial Ponzi Scheme That Should Be Burned Into Your Brain
The ECB's Pointless Money Shuffle Is Not Giving "Traction" To The Real Economy
"Dormant" bank accounts: Introducing the newest tactic for governments to raise cash
It's theft, pure and simple. But that's how desperate the situation has become. -- RF
IMF sounds global housing alarm
The world must act to contain the risk of another devastating housing crash, the International Monetary Fund warned on Wednesday, as it published new data showing house prices are well above their historical average in many countries.
The new look Australia Post - with 1000 less [sic] staff
Take Junk Loans, Add Leverage, Slice 'Em Up, Sell, Repeat
Losing One Million Scientists, Germany Turns to Migrants
Libya Cabinet Starts Spending $50B Budget Despite Falling Oil Revenues
Spanish Government Goes Digging For GDP, Asks Brothels: "How Many Services Do Your Hookers Provide?"

## Airline Death Spiral ##
Lufthansa warns on profit, shares plunge
Germany's Lufthansa (LHAG.DE) said it would not reach its profit targets for the next two years as competition suppresses prices on its main European and U.S. routes and as it struggles to make up for the effect of pilot strikes.
United Airlines Changes Its MileagePlus Frequent Flier Program, And Basically You're Hosed
Airlines float premium economy class to attract passengers
#Carryonshame campaign aims to expose overpacked travelers
Sell Air India: It is costing us too much good money to keep it in the skies
Americans Rate Flying on Par With Waiting in Line at the DMV
Airlines Slaughtered on Iraq and Oil

## Fault lines/flashpoints/powder kegs/military/war drums ##
Thai army delegation visits China amid Western reproach of coup
A delegation of Thai military commanders traveled to China on Wednesday for talks on regional security and joint training exercises amid Western unease over the Thai army's seizure of power in a coup last month.
Iraq at risk of civil war as al-Qaeda-led uprising pushes to within striking distance of Baghdad
Islamist fighters capture Saddam Hussein's hometown, move on key oil refinery
Al-Qaeda Jihadis Loot Over $400 Million From Mosul Central Bank
Iraq says to work with Kurdish forces to retake Mosul
With Iraqi politicians divided, recapture of Mosul not likely anytime soon
Iraq Asks U.S. to Help Quell Militant Uprising
US Readies Air Strikes Against al-Qaeda in Iraq
Iran Deploys Troops to Guard Baghdad, Fight al-Qaeda
Reports coming out of security sources in Iran say that two battalions of Quds Force troops from the nation's Revolutionary Guard have deployed into neighboring Iraq to guard Shi'ite holy sites as well as the capital city of Baghdad. Some have also reportedly taken part in fighting in Tikrit.
Further proof that the real winner of the Iraq war was Iran. -- RF
Militias become Iraq's only defense against ISIS advance
Islamist fighters pushed toward Baghdad Thursday with little interference from what remains of Iraq's disintegrating security forces as militias tied to religious or ethnic groups stepped in to try to stop the advance.
Chinese fighter jets fly within 30 meters of Japanese military planes
Cathay cancels Karachi flights as Pakistan reviews security
Drug Gangs Attacking With Tanks Block Mexican Shale Boom
Bulgaria's government to collapse over South Stream
Saudi to develop rural areas in bid to limit city over-crowding
A ministry projection has forecast that 88 percent of the kingdom's population would live in urban areas by 2025, with the overall population expected to rise from 29.8 million people to 39 million by 2020.
India spy agency says Greenpeace endangers economic security
India's domestic spy service has accused Greenpeace and other lobby groups of hurting economic progress by campaigning against power projects, mining and genetically modified food, the most serious charge yet against foreign-funded organisations.
Ukraine says 3 tanks cross from Russia
The Ukrainian interior minister said three tanks crossed into Ukraine along with other armored vehicles from Russia and were attacked by military forces fighting pro-Moscow separatists. He did not directly accuse Moscow of sending the tanks, but said it showed Russia had failed to fulfill promises to tighten border controls.
Australia backs Japan's collective defense shift

## Global unrest/mob rule/angry people/torches and pitchforks ##
Haiti police break up violent anti-government protest
Uber protests bring major European cities to a halt
Yemenis protest over power cuts, fuel shortages
Students Face Down Tear Gas and Water Cannons in Chile Protests
Angry protests in India's capital over power blackouts
Brazilians, angry at cost, in a sour mood as World Cup opens
Rio de Janeiro Airport Workers Stage Strike as World Cup Starts

## Energy/resources ##
Yemen in total blackout after power lines sabotaged
India's summer power outages are getting so bad, states want you to DIY
Power rationing in South from June 13 (Thailand)
Reduced power in South concerns officials (Thailand)
As Indonesia Seeks Quick Fix to Power Woes, Gas Export Curbs Loom
Mosul Falls to Insurgents, Threatening Iraqi Oil Sector
OPEC's second largest oil producer is in severe disarray just as the world has come to rely upon Iraq for greater energy supplies.
Iran claims 4mbpd oil output possible if sanctions lifted
OPEC can't act alone, minister says
Maintaining stable global oil market conditions isn't something the Organization of Petroleum Exporting Countries can do alone, a top delegate said Wednesday.
Here's This Year's Biggest Loss of Oil Supply (Libya)
Angola's oil output drops to 1.6 million b/d: minister
Angola's oil production has fallen to 1.6 million b/d, oil minister Jose Maria Botelho de Vasconcelos said Wednesday, making it increasingly unlikely that Africa's second-biggest producer will reach its output target of 2 million b/d next year.
World's Large Cities Move Water Equivalent to Ten Colorado Rivers to Meet their Annual Water Needs
Many large cities tap supplies not only in their own watersheds, but also in others far afield.
Canada builds LNG army for West Coast, may come up short
The Canadian province of British Columbia is on the brink of a liquefied natural gas boom, but a shortfall of thousands of workers is imperiling billions in investment dollars.
Gazprom to halt gas to Ukraine if no payment by Monday
Iraq violence slingshots Brent, WTI to highest levels of 2014
Norway's Oil Investments To Fall In 2015, Weigh On Economy
Geology and Markets, not EPA, Waging War on Coal

## Got food? ##
On Warming Planet, US Corn Industry 'Unsustainable'
America's behemoth corn industry—worth an estimated $67 billion—is racing towards an unsustainable future as the planet warms, severe weather intensifies, and irrigation water dries up, according to a new report by the investment research organization Ceres.
National Drought In 2012 Causes Local High Food Costs In 2014, Experts Say (US)
Pacific nations look to increase tuna fishing fees
Pacific island nations announced plans Thursday to dramatically increase the fees they charge tuna fishing boats for the right to enter their waters, saying it will boost revenue and help conservation efforts.

## Environment/health ##
Infectious diseases: Airlines put on alert (KSA)
Lawless weeds causing a calamity in Colorado
Rancher Gary Gibson of rural Crowley County said the overgrowth was so deep this fall that he and other county officials had to close 45 miles of weed-choked rural roads.
Scientist Makes Mutant, Infectious Flu Virus in Lab
Fertilizer produces high levels of greenhouse gases

## Intelligence/propaganda/security/internet/cyberwar ##
Microsoft fights off U.S. efforts to access data stored abroad
The Obama Administration is Trying to Cover up the VA Scandal by Issuing Subpoenas to Whistle-Blower Sites
Computers will be like humans by 2029: Google's Ray Kurzweil
Journalists: the unwitting pawns of government cyber warfare
Your Outlet Knows: How Smart Meters Can Reveal Behavior at Home, What We Watch on TV
US pushing local cops to stay mum on surveillance
The Obama administration has been quietly advising local police not to disclose details about surveillance technology they are using to sweep up basic cellphone data from entire neighborhoods, The Associated Press has learned.
Thailand's Junta Flexes Its Muscles Online
Thailand's military took over the country in a coup d'état last month. As part of its seizure of the apparatus of government, it has also taken steps to extend its control over the country's Internet users. The army immediately "asked for the cooperation" of Thai ISPs to block over 200 new web sites, including independent sites such as Prachatai, and, briefly, Facebook... The Thai police have reiterated that even "liking" an online message critical of the junta is a crime.
Facebook Announces Plans To Sell More User Data To Advertisers
The Government Can No Longer Track Your Cell Phone Without a Warrant

## Systemic breakdown/collapse/unsustainability ##
Toyota recalls another 650,000 vehicles for airbag flaws
Mitsubishi Motors recalls 920,000 vehicles over light switch glitch
Babies Pay for Detroit's 60-Year Slide With Mortality Above Mexico's
Pentagon preparing for mass civil breakdown

## Japan ##
Debt Rattle Jun 11 2014: Japan Enters Financial Nowhere
Japan Inc.'s Worst Quarterly Outlook Since The 2011 Earthquake
Radiation levels remain high in unlivable areas
Foreign interns pay the price for Japan's labor shortage
1,200 burglaries at Fukushima evacuated areas

## China ##
Shrouding China's gold trade, more imports go under radar
Banks have started trial gold imports directly into the Shanghai free trade zone ahead of the launch of a gold exchange there, threatening to further obscure the level of buying by the world's top consumer.
Mindblowing Fact Of The Day: China Has Over 52 Million Vacant Homes
China has world's second largest gold resource
China pledges spending, lower taxes for growth

## UK ##
Bank of England gets new powers to curb mortgages to prevent asset bubble

## US ##
19 Reasons Why You Can Laugh When Anyone Tells You That The Economy Is In Good Shape
America's middle class: Poorer than you think
"Americans tend to think of their middle class as being the richest in the world, but it turns out, in terms of wealth, they rank fairly low among major industrialized countries," said Edward Wolff, a New York University economics professor who studies net worth.
Senators weigh tax 'holiday' to help fund highway repairs
Public Pension Plans: Boom and Bubble Forever Or Bust
Now the Center for Retirement Research at Boston College released a study, based on 150 public pension funds, that sheds light on just how essential a permanently booming economy and everlasting bubbles in the stock and bond markets are to the survival of these funds – and how they're already integrated into the calculus.
RadioShack Is Collapsing
More than half of college graduates rely on family for financial support
U.S. Struggles to Draw Young, Savvy Staff
One Overlooked Reason Why the Middle Class Is in Decline
The middle class happily accepts high risk in return for temporary gains in the asset bubble of the day, guaranteeing a steady progression of losses.
Many seek new homes near cities but are priced out
Average Cost of New Home is 6 Times Median Income (Historically 3); Sales of Priciest 1% of Homes Soar (Bottom 99% Down)
US records $130B budget deficit in May
THREE Charts That Prove We're in a Depression and That the Federal Reserve and Washington Are Wasting Money
Bank of America Shocker: New Commercial Loan Plunge Is Largest Since Lehman
26 cents short, middle schooler watches cafeteria worker throw his lunch in the garbage
California Tax Revenues Come Up Short in May
In 33 U.S. Cities, Feeding the Homeless Has Been Criminalized
Gun violence spurs grim industry—bulletproof items for kids
Bill and Hillary Clinton top list of richest ex-first families
The Winter Was So Cold No One Got Sick! Lower Health Spending To Push Q1 GDP To -2%
Las Vegas's Desperate Attempt To Save Its Drinking Water May Be A Harbinger Of Our Drought-Filled Future
Fed Prepares to Maintain Record Balance Sheet for Years

And finally...
7 unbelievable jobs that actually exist in Japan
Grumpy Cat will star in a Lifetime Christmas movie
Obsessed fan buys 1000 packets of crisps in bid to meet his pop idol – but is arrested for littering

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