Thursday, July 10, 2014

 

News Links, July 10-11, 2014

## Global Ponzi meltdown/House of Cards ##
France urges bigger euro role in international trade
The euro zone must work to bolster the role of its common currency in international business transactions, France's finance minister said on Wednesday, comments supported later by the head of French utility GDF Suez.
French and German Companies Lead in Yuan Trade Usage, HSB
Global firms becoming keen on using yuan
More U.S. Companies Are Now Settling Trade With Yuan
Introduction Of Chinese SWIFT System Would Cause Swift Decline of USD As World's Reserve Currency
Heads up: New Laws That Allow The Government to Seize Savings Deposits During a Crisis
Bubbles, Bubbles Everywhere
Crisis Haunting Spain as Loan Costs Threaten Growth
Companies in Spain are having to pay three times more to borrow than their German peers, potentially stifling an economic recovery needed to provide jobs for the one in four people in the country looking for work.
Paris to Tax Empty Offices at 20-40% of Rental Value; Price Crash On the Way
Portugal's Largest Bank Misses Bond Payment; Bonds Collapse
Mounting alarm over Portugal's Espirito Santo bank roils markets
Muni Fund Collapses To Record Lows As Puerto Rico Risk Rises
Germany Blesses "Bail-In" Deposit Confiscation Plan For Failing EU Banks
Japan May core machinery orders dive almost 20%
French industrial output drops unexpectedly in May
Luxury Rolls-Royce car sales soar worldwide
Two Critical Gold Events Around The World
Rise in Indian gold smuggling a sharp contrast to legal imports
Undisputable Bubble Insanity: No Revenue, No Assets Company Up Over $1 Billion (+110%) Today On 57K Shares Traded
OECD shocked by lack of productivity in emerging countries
JP Morgan Director Julian Knott Killed Wife With Shotgun in Murder-Suicide
Genius: IMF pronounces Bulgaria's banks safe just two weeks before bank run
Malaysia's CIMB announces megabank merger

## Airline Death Spiral ##
More flights arriving late; complaints are rising
Europe's Top Airlines Cut Projections
Overcapacity hurting earnings at Air France-KLM
Time to worry about overcapacity in airline industry?

## Iraq ##
Islamists corner commandos defending Iraq's largest refinery
Iraq says oil sector secure
Fifty-three blindfolded bodies found in Iraq as political leaders bicker
Iraq insurgency is causing the country to run out of cemetery space
Pentagon Mulls Drone Strike Assassination of ISIS Leader
Iran seeks out unlikely alliances to resolve Iraq crisis
'Terrorist Groups' Seize Uranium Compounds, Iraq Tells U.N.
However, the U.N. nuclear agency said Thursday it believed the seized materials were "low grade" and did not pose a significant security risk.
Maliki Claims Kurds 'Sheltering ISIS in Arbil'

## Fault lines/flashpoints/powder kegs/military/war drums ##
Twenty-First-Century Energy Wars 
Global Conflicts Are Increasingly Fueled by the Desire for Oil and Natural Gas -- and the Funds They Generate
1,000 Syrian rebels defect to Islamic State in sign it's still strengthening
Saber-Rattling Between Japan, China, and RUSSIA of all things Hits Record
Taiwan diplomat fears China-Japan maritime 'explosion'
Pentagon plans new tactics to deter China in South China Sea
Report: Israel warns 100,000 Gaza residents to move back from border
Hamas boosts rocket range, reaching deeper into Israel
Israel: Hamas firing rocket every 10 minutes
Rockets fired at Israeli nuclear plant as threat of invasion rises
No matter whose side you are on in this conflict, firing at a nuclear plant is insanity. -- RF
US, Israel Pushing to Clear UN Path for Escalation of Gaza Assault
Mexico's cartel-fighting vigilantes get closer to the Texas border
Vietnam earmarks US$540m for new coast guard fleet
Korea accelerates plan to design, build own fighters
10 Countries Spending the Most on the Military

## Global unrest/mob rule/angry people/torches and pitchforks ##
Antigentrification protesters target the C-suite
GM Korea Workers Approve Strike as Wage Talks Stall
British public sector workers strike over 'poverty pay
'Escalating Resistance' in Detroit as Residents Block Water Shut-Offs

## Energy/resources ##
Global Oil Exploration Nears $1 Trillion - Where Are The Finds?
"Over the last 10 years the rate of return from exploration has diminished with time," said Andrew Lodge, exploration director at London-listed explorer Premier Oil. "In the heyday of 2001-2002 the average rate of return for the industry was 20 percent ... that dropped last year to around 10 percent," he said... "Today we consume 33 billion barrels of oil per year and are discovering 10-20 billion barrels at most. It appears that the biggest single oil discovery in 2013 was less than 1 billion barrels in size," asset management firm Investec said in a report.
The Fracking Treadmill: Another Deformation Of Cheap Money
The U.S. shale industry may be a lot less healthy than many people think. A new analysis from Bloomberg News found a startlingly high level of debt in the shale industry, with companies' borrowing more and more money as revenues disappoint.
Iran reviews gas relationship with Russia
Iran's deputy minister for gas affairs said Wednesday he was expecting Russia to start investing in the Iranian natural gas industry.
Price of electricity could double over next 20 years, says National Grid (UK)
UK North Sea Oil, Gas Companies' Profitability Near 5-Year Low
North Sea oil and gas companies made the lowest profits in nearly five years during the first three months of this year, British data showed on Wednesday.
Venezuela left in the dark, again
Just a week after a nation-wide blackout left several states without electricity for hours, Venezuela's capital of Caracas and at least two other states were left in the dark again.
Mystery over massive power cut in Christchurch
Energy Shortage Plagues Caribbean's Manufacturing Sector
Sinopec may back away from Northern Lights oil sands lease: source
The Canadian arm of China Petrochemical Corp. may shelve work on its Northern Lights oil sands lease or sell the property entirely, as Chinese companies begin to rethink future investment prospects in the world's No. 3 crude reserve... Sinopec "is having trouble with Northern Lights like everybody else. You can't throw money into a black hole forever."
S.Korea restarts nuclear reactor shut in June
Diesel Shortages Point To Continued Strong Consumption Pattern (KSA)
Severe diesel shortages in Saudi Arabia despite the start-up of the new Jubail refinery in 2013 highlight the precarious nature of the country's fuels supply. While new capacity will come online in the coming years, reducing the need for imports, the strong upward fuel consumption trajectory will result in a trend whereby the country's crude will be increasingly diverted from exports to domestic consumption. This will limit Saudi Arabia's capability to act as a global swing producer.
Russia to Invest $60-70 Bln in Gas Pipeline to China - Kremlin
Renewable Energy Provided One-Third Of Germany's Power In The First Half Of 2014
São Paulo's Reservoirs Are Running Out Of Water
A prolonged drought in Brazil is emptying some of the reservoirs that churn hydropower generators and send electricity into major cities, prompting some industries and consumers to reduce power consumption.
Dire water shortage (Pakistan)

## Infrastructure scavenging ##
Thieves steal 5km of railway track (South Africa)
Thieves hauling away central A/C units

## Got food? ##
India's onion crisis: shortages after the best-ever harvest
Why Are Chicken Prices Soaring? Blame Fat Roosters
The world's largest chicken breeder has discovered that a key breed of rooster has a genetic issue that is reducing its fertility, adding to problems constraining U.S. poultry production and raising prices at a time when beef and pork prices are already at record highs.
From McDonald's To Organic Valley, You're Probably Eating Wood Pulp
Agriculture industry seeks to create right to farm
Some powerful agriculture interests want to declare farming a right at the state level as part of a wider campaign to fortify the ag industry against crusades by animal-welfare activists and opponents of genetically modified crops.
Food Prices Inch Up As California Drought Enters Third Year

## Lifestyle Solutions ##
Tiny Houses Big With U.S. Consumers Who Pursue Freedom: Economy

## Environment/health ##
Report: Macondo oil 'caused fish illness'
Oil that matches the 2010 Deepwater Horizon spill in the Gulf of Mexico has been found in the bodies of sickened fish, according to a team of Florida scientists who studied the oil's chemical composition according to a Reuters report.
Hospitals at increasing risk of overheating due to climate change (UK)
Government advisers warn that 90 per cent of hospital wards are of type prone to overheating and that risk will worsen as global warming makes heatwaves more common
Controversial pesticides killing wild birds as well as bees
US Department of Interior says cell tower RF emissions affecting birds
Smartphone dependency fuels other addictions, say rehab clinics
As Americans become increasingly dependent on smartphones, recovery centers specializing in addictions and emotional problems say mobile devices are making some bad habits even worse.
UAE Ministry of Health confirms two new cases of Mers
Seoul's eccentric mayor is building hotels for insects. Yes, bugs
Last-Resort Antibiotics In Jeopardy As Use Rises Globally
Capturing CO2 emissions remains frustratingly expensive

## Intelligence/propaganda/security/internet/cyberwar ##
Hillary Clinton Flaunts Her Surveillance State Baggage
US military studied how to influence Twitter users in Darpa-funded research
Meet the Muslim-American Leaders the FBI and NSA Have Been Spying On
Government Scientists Want to Fix Your Memory
No word on whether they intend to implant memories a la Arnold Schwarzenegger in "Total Recall."
Anger mounts as Germany unearths second U.S. spy suspect
Swiss ex-banker charged with giving data to WikiLeaks
Fugitive Snowden asks to extend stay in Russia: lawyer
AS&E Introduces the MINI Z: World's First Handheld Z Backscatter Imaging System
The new plague: Computer viruses that extort you
Thailand's New Military Government Is Secretly Vacuuming Up Facebook Data
Report: Chinese hacked federal employee files
Chinese hackers broke into the computer networks of the U.S. Office of Personnel Management earlier this year with the intention of accessing the files of tens of thousands of federal employees who had applied for top-secret security clearances.
Germany demands top U.S. spy leave country over NSA spying allegations
A New Device Lets You Track Your Preschooler ... And Listen In
Google Glass can now be controlled by your mind
High-Level NSA Official: the NSA Has Become "J. Edgar Hoover On Super Steroids"
Hacking Grows at Messaging App Line (Japan)
Hackers know who is shipping what, and to where
Seven shipping and logistics companies across continents have discovered malware in their scanners that siphoned their financial, customer and other data to a Chinese botnet.

## Systemic breakdown/collapse/unsustainability ##
Italy: adapting to collapse
Shock Report: 70 Million People Would Be Starving in the Streets Without Government Welfare Programs (US)
Amid all the talk of recovery by politicians, economic officials and big business leaders, the fundamental numbers behind all the propaganda tell a starkly different story.
Harley-Davidson recalling 66,421 motorcycles
Scientists turn to public to help pay for research
Americans are living the dream, but not loving it
Kidney Transplant Champ Goes Nuts Begging for Pills
Skills Shortage Means Many Jobs Go Unfilled
Many roads, bridges in rural America in disrepair
72-year-old woman attacked by pack of dogs
Those who live in the neighborhood said it is not unusual to see packs of large dogs roaming around and behaving aggressively.

## Japan ##
Japan Inc.'s Orders for Equipment and Machinery Totally Collapse
Renesas to seek applicants for early retirement in development sector
Japanese firms near crisis point as labor shortage deepens
SDF jets scrambled record 340 times in April-June period
Yahoo cyberattacks reveal gaping holes in Japan Inc.'s hacking shield
Cyberattacks on Japanese gov't sites surge
Testimony by Fukushima plant manager Yoshida
TEPCO: 90 out of 1,550 freezing ducts built so far
Stigmatized nuclear workers quit Japan utility

## China ##
Chinese Purchases of U.S. Real Estate Jump 72% as The Bank of China Facilitates Money Laundering
Credit Guarantees, Fraud, Corruption Fuel China's Credit Bubble; Bankruptcies Rock Loan Guarantors; Beginning of the End?
News Navigator: Why are they building 'ghost towns' in China?
China's Booming Real Estate Market Finally Begins To Slide
China to become 2nd largest equity market by 2030
China's central bank looking into Bank of China money laundering allegations: Xinhua

## UK ##
Mobiles could be banned on all flights from Britain
All travellers flying to or from Britain are warned they may have to leave behind mobile phones if they cannot switch them on
Two million households 'do not realise they are living on flood plains'
Tens of thousands of houses are still being built on floodplains, increasing reliance on flood defences which are not being properly maintained due to Government budget cuts, Committee on Climate Change warns
'Staggering' rise in prescribing of antidepressants
Soaring numbers taking statins, new figures show
Files on UK role in CIA rendition accidentally destroyed, says minister
The dog ate my homework. -- RF
Emergency laws to monitor phones and internet 'to stop terrorists'
Emergency laws will be brought in next week to force phone and internet companies to hold records of customers' calls, texts and visits to websites.
Fall in wages could be 20% more than estimated, thinktank claims
Average wages in Britain have fallen further than official figures show after a huge shift into low-paid self-employment since the financial crash, according to a report by a leading thinktank.
Unions: 'Workers Can't Feed Their Families'
Public sector workers in mass strike
Future generations will work longer to pay off Britain's debt

## US ##
Neofeudalism's Tax Donkeys (Yes, You) and the Battle for Control of Resources
Those who own the resources and influence the political control of those resources are the New Nobility in a pernicious Neofeudalism enforced by the very government that claims to serve the debt-serfs and tax donkeys.
Escalating Domestic Warfare
Between the War on Drugs and the War on Terror, the United States has witnessed a transformation of its law enforcement, from lightly armed neighborhood policemen to militarized units deploying weapons of warfare, including armored personnel carriers.
Introducing Ghost Skyscrapers – NYC Real Estate Goes Full Retard
Why Housing Will Crash Again--But For Different Reasons Than Last Time
"Unsustainable Real Estate Bubble Is Inflating," Mortgage Bankers tell FICO
Water levels at Nevada's Lake Mead drop to new low
Senior Bankers Warn: 'It's Crazy, It's a Boom, It's a Gold Rush'
Report: Chelsea Clinton earns up to $75K per speech
Border surge overwhelming, officials tell Congress
Dept. of Justice: Corporations Are People... Gitmo Prisoners Are Not
Tax Dollars At Work: Washington Splurges On Social Media—-Including $630K For "Likes" By State Dept.
$22 Billion in California Homes Sold to Chinese All-Cash Buyers; "Beginning of Tidal Wave" says NAR Chief Economist
Did China Just Crush The US Housing Market?
Many over 50 are still saddled with student loans
American teens can't read a pay slip
Fewer than 30% of U.S. teens understand their paycheck, according to the financial literacy portion of a test administered by the Organization for Economic Co-operation and Development.
U.S. productivity growth last year was worst since recession, new data show
Yes, Millennials Actually Are Living in Their Parents' Basements
Container Store Sees a 'Retail Funk' Gripping America
IPO Hype-Miracle Gets Crushed by Reality
How bad is NJ's infrastructure? Shameful is one word for it
Fed's Fischer sees little benefit in breaking up too-big banks
Skills gap: Employers say they can't fill jobs—and here's why
Working for tips: It's even worse than the minimum wage

And finally...
All cars to be fitted with Catholic converters: this year's top exam howlers
Woman accidentally sends nude to her father, tweets about it




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