Tuesday, June 17, 2014


News Links, June 17-18, 2014

## Global Ponzi meltdown/House of Cards ##
IMF Cuts U.S. Growth Outlook, Sees More Scope for Zero Rates
Medtronic Is Biggest Yet to Renounce U.S. Tax Citizenship
U.S. banks seen falling short of new debt funding rule
"Cluster Of Central Banks" Have Secretly Invested $29 Trillion In The Market
Haier to axe 10,000 jobs this year
Major Chinese consumer electronics maker Haier Group plans to cut 10,000 jobs, or about 14% of its 70,000-strong workforce, by the end of this year, it was learned on Monday.
Cut, baby, cut! -- RF
The coming 'tsunami of debt' and financial crisis in America
China and Russia turning backs on U.S. dollar
G-77 calls for new economic order
We're definitely going to get a "new world economic order." It's just not the one everybody is hoping for. -- RF
Argentina: Won't submit to 'extortion' on debt
Argentina's president is refusing to go along with a U.S. judge's ruling requiring a $1.5 billion repayment of defaulted bonds, even though the U.S. Supreme Court rejected her government's appeals and left the order in place.
Argentina on the precipice? Maybe, says S&P

## Airline Death Spiral ##
Bombardier lays off staff as new Learjet flight testing delayed

## Fault lines/flashpoints/powder kegs/military/war drums ##
America's Allies Are Funding ISIS
The Islamic State of Iraq and Syria (ISIS), now threatening Baghdad, was funded for years by wealthy donors in Kuwait, Qatar, and Saudi Arabia, three U.S. allies that have dual agendas in the war on terror.
ISIS takes last government-controlled city in northern Iraq
Fierce clashes erupt near Baghdad
Islamic militants Tuesday attacked areas in central Baqouba, a city just 30 miles northeast of Iraq's capital Baghdad, but were pushed back by security forces and tribal fighters.
Kerry: Obama Weighing Drone Strikes in Iraq
US Amphibious Warship With 550 Marines Enters Persian Gulf
Obama Considers Special "Boots On The Ground" Forces In Iraq As Explosions Rock Baghdad Airport
Obama is sending 275 U.S. forces to Iraq for embassy security
Iraq crisis: Red-haired devil of Saddam's Iraq back in the fray
Iraq blowback: Isis rise manufactured by insatiable oil addiction
'Is ISIL really 'Sunni'? Not at all'
Pentagon Denies Plan to Coordinate Iraq Strikes With Iran
Despite the Obama Administration considering direct security talks with Iran on the worsening situation in Iraq, the Pentagon insists that there will be no coordinated military action with Iran.
Kenya is a war zone, warns al-Shabaab after Somali Islamists massacre 48
Pakistan army in for long haul in offensive against Taliban
Decay of Libyan state clears desert trail for Africans to Europe
New Frontier: Swarming Nanosatellites
'Pakistan, India, China expanding nuclear arsenals'
Report says China held 250 warheads, India between 90 and 110, Pakistan between 100 and 120 and Israel 80 at the beginning of 2014

## Energy/resources ##
Russia cuts gas to Ukraine, flows to EU threatened
Russia Announces "Pay-First" Gas for Ukraine; Revised Estimates on How Long Ukraine's Gas Stockpile Will Last
Ukraine Pipeline Explodes
Authorities investigating whether terrorism was behind Ukraine gas line attack
Crude oil heading to $150: Fund manager
World's untested assumption on 6 mb/d Iraqi oil by 2020
Kurds Grab Fourth-Largest Iraq Oilfield Amid ISIL Advance
We will never run out of oil (which is entirely beside the point)
What we'll run out of is affordable oil. -- RF
We Are So Not Prepared for Another Oil Shock
Saudi Arabia Under Pressure To Plan For Iraq Oil Disruption
Oil Majors Cut Staff In Iraq On Fears Violence Will Spread
Northern Gateway pipeline decision awaited anxiously by world desperate for secure oil
Iraq's southern crude oil exports: how safe is safe?
BP to sign $20 bln LNG supply deal with China's CNOOC
BP will sign a deal worth around $20 billion on Tuesday to supply China National Offshore Oil Corporation (CNOOC) with liquefied natural gas (LNG), Chief Executive Bob Dudley said at a conference in Moscow.
Ford Shows Why Hybrids Aren't Nearly as Efficient as We Think

## Got food? ##
Rising Food, Fuel Prices Hit Modi Government Before Budget

## Environment/health ##
Gulf Ecosystem Still Feeling Effects of Deepwater Horizon Spill
Four years after the Deepwater Horizon oil spill, marine researchers are finding that the waters and shores of the Gulf of Mexico have not recovered as well as many may have thought. Oil in the form of "sand patties" continues to wash up along the coast, and an abundant breed of one fish exposed to the oil is showing signs of swimming impairment.
In NC hamlet, residents worry over coal ash ponds
$1,000-a-pill Sovaldi jolts US health care system
American 'Healthcare' Exceptionalism: Highest Costs, Worst Care

## Intelligence/propaganda/security/internet/cyberwar ##
Software That Sees Employees, Not Outsiders, As The Real Threat
A growing number of companies are under pressure to protect sensitive data — and not just from hackers lurking outside the digital walls. They're also looking to protect it from insiders — employees who may want to swipe information such as customer bank account numbers or electronic medical records.
Data breach hits AT&T customers
AT&T confirmed attackers have compromised the security of a number of its Mobility wireless unit members. Outside attackers, allegedly employees of one of AT&T's service providers, stole personal information including Social Security numbers and call records.
Hackers steal Domino's Pizza customer data, threaten to publish info if ransom not paid
Even Ordering a Cheap Pizza Isn't Hacker-Proof Anymore
An Android Hack Intentionally Creates False Data on Your Cell Phone to Fool Authorities

## Systemic breakdown/collapse/unsustainability ##
GM recalls 3.4M more cars for ignition problems
Growing Worker Shortage Looms Over Logging Industry's Future
Fourth Turning Accelerating
Unfit for flight: Hidden defects linked to scores of small-aircraft crashes
Greek employees: salary delays up to 12 months & "coupons" instead of "money"
Celebrating Mass Murder Suicide

## Japan ##
Fukushima's Children are Dying
"Liquidity Is Becoming A Serious Issue" As Japan's Bond Market Death Goes Global
TEPCO finds water in tunnels not yet frozen
Subsidies eyed for bridge, tunnel repairs
88% of power supply thermal in fiscal 2013
Government program to hire elderly hires total of one person in FY2013
Abe unveils policy steps aimed at bolstering Japanese stock prices
Japan Weighs Cutting Tax Break for Housewives
Japan Looks to Trim Pension Payouts, Whether Prices Rise or Fall
Japan's government is considering changing the law so public pension payments fall every year relative to consumer prices, regardless of whether prices go up or down — possibly the boldest measure yet to get mounting pension spending under control.
The BoJ's Balance Sheet Is About to Go Parabolic

## China ##
China Inc borrows $14 trillion, overtakes U.S. as top corporate borrower: S&P
The Chinese corporate bond market has overtaken the United States as the world's biggest and is set to soak up a third of global company debt needs over the next five years, according to rating agency Standard & Poor's, underscoring the growing risk China's debt market is imposing on the global financial system.
China executes 13 for 'ruthless' terror attacks
FUBAR: Chinese food imports now require more land mass than the entire State of California
Haier to lay off 10,000 this year
China resumes global mineral hunt

## UK ##
Engine fault grounds entire F-35 fleet in latest blow to Britain's stealth fighters
Drunks should be treated in 'booze buses' to ease A&E overcrowding, nurses say
Insecure Britain: poll shines light on nation's economic anxiety
William Hague: hundreds of Brits could be fighting with Isis
Mass Spying on Users of Social Media Totally Legal, says UK Government
London's Whopping 18.7% Home Price Surge Means UK's Housing Bubble Slams China's

## US ##
We're Last! Again! U.S. Health Care Ranks Poorly
IMF cuts U.S. growth outlook, says full employment years off
The Most Destructive Presidencies in U.S. History: George W. Bush and Barack H. Obama
Wealthy Clintons Use Trusts to Limit Estate Tax They Back
Flash Mob Robbers Hit Chicago Clothing Store
Housing Hit the Wall of Wall Street in May
Court Overturns Sharing Of FISA Surveillance With Defense Lawyers
In The Making Of Megafarms, A Few Winners And Many Losers
The Nuclear Waste of Debt Issuance – Wave Division Plans $150 Million in PIK Bonds to Pay Owners a Dividend
Inflation rises unexpectedly, food and energy prices are up
Immigrant children continue to surge into South Texas
Military Blimps Will Float In Aberdeen, Tracking Potential Threats
Detroit Street-Light Project Lets Life Go On After Dark
A Detroit agency replaces 100 broken street lights each day using borrowed money in a plan to brighten neighborhoods where darkness breeds crime and fear.
Another Exponential Chart: Americans Who Renounce Their Citizenship

And finally...
Hilarious video shows how dogs react to human barking
CNN newscaster can't stop laughing at crazy Japanese mascot

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