Tuesday, July 15, 2014


News Links, July 15-16, 2014

## Global Ponzi meltdown/House of Cards ##
Why We're Doomed: Interest and Debt
Even if the economy were growing at a faster pace, it wouldn't come close to offsetting the interest payments on our ever-expanding debt.
U.S., Europe, and Japan headed for major economic crisis: Mauldin
Portugal Contagion Spreads: Espirito Santo To Default On Portugal Telecom Loan, Business Lending Drops Most On Record
The Head Of 'The Central Bank Of The World' Warns That Another Great Financial Crisis May Be Coming
IMF's Planned Global Currency Reset
The coming fiat currency war
Draghi Seen Delivering $1 Trillion to Banks in ECB Offer
Is Canada Next? (In One Very Ugly Chart)
Triple Whammy for German Economy
EU Bail-Ins Coming As Germany OKs Depositor Bail-In
Emerging nations plan their own World Bank, IMF
Fed up with U.S. dominance of the global financial system, five emerging market powers this week will launch their own versions of the World Bank and the International Monetary Fund.
Sanction Spiral Hits London, Plays Out Putin's Master Plan
The Implosion Is Near: Signs Of The Bubble's Last Days
Nomura Threatens Espirito Santo Cross Defaults, Said To Demand Immediate Repayment Of €100MM Loan
Microsoft expected to announce job cuts this week: Bloomberg
The restructuring may end up being the biggest in Microsoft history, topping the 5,800 jobs cut in 2009, the report said.
Cut, baby, cut! -- RF
Restaurant CEOs Make More Money in Half a Day Than Their Employees Make in a Year
Europe Needs $795 Billion Problem Property Loan Solution
Singapore's GDP Decline Shows Manufacturing Constraint: Economy
Roll Out the Rolls, Bring on the Bentley: Wealth Loves Luxury Cars
Incisive Reflections On The World's "Nested Bubbles" By John Rubino And Chris Martenson

## Airline Death Spiral ##
Get to Know Your Seatmates, Intimately, as Boeing Squeezes 'em In
The world's most uncomfortable plane seat?
Airbus design does away with cushions, tray tables and legroom in favour of seats that resemble bicycle saddles
Turbulence Ahead: The Coming Pilot Shortage and How It Came to Be
Steep training costs and underwhelming wages might be pushing the industry toward even more flight cancellations.
Air France-KLM slashes earnings forecast for 2014
Air France-KLM on July 08 slashed its earnings forecast for 2014, hit by over-capacity in traditionally lucrative long-haul routes and persistently weak cargo demand
Passengers may face further delays at baggage reclaim, union warns (UK)
Think flying is bad now? Wait till you see this

## Iraq ##
Iraqi army remains on defensive as extent of June debacle becomes clearer
Five weeks after Islamist fighters stormed across northern and western Iraq in a surprise offensive that nearly reached the outskirts of the Iraqi capital, virtually every captured location remains firmly in rebel hands, while the central government's meager efforts at a counteroffensive have met with failure on virtually every front.
Bodies found north of Baghdad as Sunni insurgents turn on each other

## Fault lines/flashpoints/powder kegs/military/war drums ##
Despite offensive, Gaza rockets still hit Israel
Hamas fires rocket barrage as it rejects cease-fire; Israel vows new airstrikes
UN: 80 per cent of Palestinians killed in Israeli offensive are civilians
IDF's Gaza assault is to control Palestinian gas, avert Israeli energy crisis
Ukraine and Russia edge closer to war amid accusations of cross-border attacks
Origins Of The Ukrainian Crisis: Washington's Double-Cross And Expansion Of NATO
NORAD: Fighter jets scrambled after Russian bombers spotted off California
U.N. pulls staff out of Libya as clashes kill 13, close airports
Meet EXACTO – DARPA's Guided .50 Caliber Bullet
China tells U.S. to stay out of South China Seas dispute
China's Xi begins 2nd trip to Latin America, in sign of expanding role
Islamic State consolidates control of eastern Syria with fall of Deir el Zour
Extremists of the Islamic State on Monday seized nearly all of Deir el Zour, the last town not under their control in eastern Syria, after executing the emir of a rival jihadi group, the Nusra Front, anti-government activists reported.
89 killed in worst Afghanistan bombing since 2001
Behind 'Smokescreen' of Charity, Global Financial Elite Pillage African Nations $60bn Each Year
Australian army sees Asia's megacities as future battle zones
Six countries that make up half the world's population

## Global unrest/mob rule/angry people/torches and pitchforks ##
'People's March' Against Fracking Demands Halt to Export Push
Anti-fracking protesters arrested in U.S. capital
Arizona protesters hope to stop immigrant transfer
Kuwait threatens dissidents with loss of citizenship
Broadcast interrupted as protester with handcuffs tries to arrest Dick Cheney

## Energy/resources ##
Oil Abundance? Not So Fast - Drilling holes in the energy boom story
Putin vows to help develop offshore Cuba
Yemeni oil pipeline attacked
Iran-Russia Oil Barter Talks Will Continue -- Deputy Minister
International and Commercial Affairs Deputy Minister Ali Majedi said Iran and Russia will continue talks on oil barter regardless of the outcome of the nuclear talks between Iran and P5+1 group.
Iran says it will work closely with Gazprom
Shale gas boom fizzling out?
The shale gas boom in the U.S. seems not to be the huge bonanza as it was touted after all. Rising labor costs and depressed gas prices have scuttled a number of shale gas plant projects. Gas fields are failing to generate expected profits, while global energy giants are posting heavy losses on their related businesses.
This from Japan's Nikkei, which is apparently just finding out what we knew all along. -- RF
The Diminishing Returns of Fuel Efficiency
As vehicles become more fuel efficient, the savings one obtains by further improving the mileage decline substantially.
Arctic Natural Gas: Location, Location, Location (Stinks, Stinks, Stinks)
Miners Face Pain as China's Coal Appetite Falls

## Got food? ##
Heartland Water Crisis: Why the Planet Depends on These Kansas Farmers
Raising Backyard Chickens for Dummies
Big Corporations Have An OVERWHELMING Amount Of Power Over Our Food Supply
North Korea pushes farmers for more
Mexican Farmers Oppose Expansion of Transgenic Crops
Hershey increases prices as costs rise
Global dairy prices plunge

## Environment/health ##
USGS: 7 small earthquakes shake central Oklahoma
Got a rash? iPad, other devices might be the cause
Four rhinos killed in Kenya's worst poaching attack in years
Rhino poaching continues at record pace in South Africa
Ebola Spreads to Sierra Leone Capital of Freetown as Deaths Rise
As Ebola stalks West Africa, medics fight mistrust, hostility
This Is Your Stressed-Out Brain On Scarcity
Second investigation of CDC anthrax lapse finds more problems

## Intelligence/propaganda/security/internet/cyberwar ##
Seven Reasons Why the Internet of Things is Doomed
"Smart" technology could make utilities more vulnerable to hackers
Corporate Titans Speak Out for 'Open Internet' & 'Net Neutrality'
Edward Snowden Denounces UK Surveillance Bill
New Snowden Docs: British Spies Seed the Internet with False Information
Meet CISA – Dianne Feinstein's Latest Attack on Privacy, Civil Liberties and the Internet
Secret Service warns on hotel biz center computers
The U.S. Secret Service on Monday confirmed it has warned the hotel industry about malware installed on computers in business centers that allow crooks to monitor every keystroke typed on a device, yielding a motherlode of personal data, such as passwords, user names and credit card information.
Electronic health records ripe for theft
Facebook to track users' TV habits
Must Watch Video – Congressman Thomas Massie Calls for Release of Secret 9/11 Documents Upon Reading Them
Obama administration says the world's servers are ours

## Systemic breakdown/collapse/unsustainability ##
US jails struggle with role as makeshift asylums
Money for Highways
Drivers all over are finding that when they hit the road, the road hits back. Highways built or rebuilt after World War II are scarred with cracks and potholes. Bridges have collapsed. Everyone agrees that crumbling highways should be fixed. No one wants to pay the bill.

## Japan ##
Japan's nuclear plant to clear safety hurdle, step toward restarts
Debris cleanup at Fukushima reactor may have contaminated rice crops
Fukushima citizen posted "Tsunami seawall in Fukushima prefecture is only sandbags" – Photo
Broadcaster NHK apologizes for asking tough questions not submitted in advance
Heaven forbid that politicians should be given anything but previously-agreed-upon, softball questions! This reminds one of the US presidential "debates." Democracy in action! -- RF
Prefectures battling against shrinking population
Japanese GDP "Guesses" Are Collapsing; Here's The 3rd Arrow That Will 'Save' It
Abe eyes permanent legislation to allow SDF troops to go overseas
Prime Minister Shinzo Abe said he is considering permanent legislation to allow the government to deploy Self-Defense Forces (SDF) troops overseas to participate in U.N. peacekeeping operations and other missions whenever necessary.
KEPCO trying to lure people from homes on hot days with online coupons
Kansai Electric Power Co. has come up with a novel way to reduce day-time electricity consumption in households  during the hottest days of summer. In an effort to reduce demand during peak periods, it will try to encourage residents to leave their homes and go shopping by offering coupons online that provide discounts or additional membership points.

## China ##
Who Will Be Assigned To Eat The Losses 'Hidden' On China's Balance Sheets?
China's Local Governments Pile On Stimulus
Secret Path Revealed for Chinese Billions Overseas
China banks suspend controversial yuan remittance scheme: WSJ
China Bought $22 Billion Worth Of US Homes Over A Recent 12-Month Span
Fast, Cheap and In the Red: Beijing's Subway System Bled $558 Million Last Year

## UK ##
New data bill contains 'sweeping surveillance powers that affect everyone in UK'
Complaints about energy firms reach record high
Patients denied vital operations by NHS bodies, surgeons report
Patients are being denied access to vital surgery by NHS bodies, which are ignoring guidelines and choosing to ration some operations, according to an investigation by the Royal College of Surgeons.
UK inflation in unexpectedly big rise in June
Lost US extraordinary rendition files have 'dried out', Foreign Office says
Days after claiming the Diego Garcia transfer files had been destroyed by water officials backtrack, saying they are readable

## US ##
Economists lower forecasts for US growth
Pentagon gives pink slips to thousands of soldiers, including active-duty officers
Here's the new worry that's consuming Wall Street
Despite a blockbuster June employment report, buffeted by positive auto sales and same-store retail sales numbers, many investors and strategists worry that American consumers just don't have the cash, or the willingness to spend it, that is required for the recovery to continue.
US companies look overseas for tax bill relief
A growing number of U.S. companies are looking to trim their tax bills by combining operations with foreign businesses in a trend that may eventually cost the federal government billions of dollars in revenue.
Yellen says Fed easy money needed even after recovery: report
How the US is creating a low wage workforce: Foreign born workers earn 79.9 percent compared to native born workers.
Trump Plaza to Close, Costing Atlantic City 1,000 Jobs
When You're Poor, Money Is Expensive
For tens of millions of Americans without a bank account, paying a bill isn't just an odyssey. It's a part-time job.
'Six Californias' plan gets enough signatures to make 2016 ballot
Yellen Warns Investors
California water use rises amid crippling drought
TSA Fee Hike Will Be Used to Pay Down Federal Deficit
Starting next week, air travelers will pay more when they fly. But the money won't necessarily go to improve airport security.
Obama: Road bill only a 'short-term fix'
Fed's Misbegotten Effort To Pump-Up Housing Prices Has Backfired: Affordability Now Plummeting
Company limits bathroom breaks to 6 minutes a day

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