Sunday, August 10, 2014


News Links, August 9-11, 2014

## Global Ponzi meltdown/House of Cards ##
African Bank Fights Collapse in Espirito Santo-Like Drama
Vietnam Seeks Rule Changes to Accelerate Bad Debt Sales
Putin's Trade Blow Throws Finland's Exporters Into Shock
Putin Makes Baltics Pay as Food Trucks Halted at Border
Russia, China agree on national currency swaps
Eurozone Sees a Stream of Poor Economic Reports
Germany close to recession as ECB admits recovery is weak
Singapore to Start Physically Deliverable Gold Contract
Scarce Cemetery Space Creates Prices to Die For: Cities
Fortunately, we have Mr. Renzi! ... capable young leader who is fixing the Italian economy....
Older Greek men feel pain of job losses
Robots Will Create 'Permanently Unemployable Underclass'
Will driverless cars lead us down a jobless road?
Canadian food exports feel brunt of new wave of Russian sanctions
Sanctions the Kremlin announced on Thursday could cost Canadian exporters about $600-million a year, with pork and shrimp exports bearing the brunt.
Russia Looking To China For Military, Aerospace Components
How Government Masks the Plight of Spain's Lost Generation
Ebola starting to take an economic toll in region
Money Creation: The Fed - Crash Course Chapter 8
In the case of the dollar (which operates similarly to the other major world currencies), we've learned that -- since all are "loaned into existence" -- all dollars are backed by an equivalent amount of debt. Debt upon which interest must be paid. As all outstanding debt must compound over time at the rate of its interest (at least), we come to this important conclusion: Our money system is designed to grow exponentially. And it requires ever more debt in order to do so.
Rate cut likely in South Korea as economy slows

## Airline Death Spiral ##
Airline War Risk Insurance Premiums To Sky Rocket
Government to buy out Malaysia Airlines, rebuild company
FAA Bans All US Flights Over "Potentially Hazardous" Iraq Airpsace
Etihad, Gulf Air re-route Iraq flights
Etihad not looking at Philippine Airlines
Portugal pilot strike causes travel chaos
U.S. airfare prices climb 2.7% through June
Wailing babies spawn a new revenue stream for airlines
Another Problem for the Boeing 787 Dreamliner
787 Dreamliner Engine Fails Over the Atlantic
United Is America's Worst Airline

## Fault lines/flashpoints/powder kegs/military/war drums ##
Obama Wines and Dines Some of the World's Most Brutal Dictators at the First Ever U.S.-Africa Summit
Israel, Palestinians Accept Midnight Truce in Gaza
Military Coup In Iraq: Prime Minister Maliki Refuses To Step Down; Security Forces On Alert, Encircle Presidential Palace
Why can't Islamic State be stopped? Analysts say it's better armed, better organized
Britain considers air strikes to avert genocide in Iraq
Iraq crisis: 150,000 Yezidi Kurds refugees surrounded by Islamic extremists
U.S. Relocates Some Staff From Embassy, Consulate in Iraq
U.S. Military Conducts More Airstrikes Against ISIS
Obama Vows 'Long-Term' War in Iraq
Fighters abandoning al-Qaeda affiliates to join Islamic State, U.S. officials say
Was Putin Targeted for Mid-Air Assassination?
U.S. intelligence analysts are weighing the possibility that the shoot-down of Malaysia Airlines Flight 17 was a botched attempt by extremists in the Ukrainian government to assassinate Russian President Vladimir Putin whose aircraft was returning from South America the same day, according to a source briefed on the U.S. investigation.
The Old Continent's Road to Ruin (Through Moscow)
Who Needs Russia? Ukraine Will Destroy Itself With New Gas Tax
Which Country Is Hit Hardest By Russian Food Sanctions?
On The Vast Strategic Emptiness Called The Ukraine: Washington's Pointless War Over Fruits, Veggies, Pork And Bank Loans
Ukrainian forces encircle rebel-held city, talk of truce collapses
NYT Outs Washington's Ukrainian Vassals: Neo-Nazi Shock Troops Leading Assault On Russian-Speaking Donbas
North Korea's military is falling apart — is Kim Jong Un's regime next?
Hagel: US, India must improve defense cooperation
U.S. call for South China Sea 'freeze' gets cool response from China
A U.S. proposal for a freeze on provocative acts in the South China Sea got a cool response from China and some Southeast Asian nations on Saturday, an apparent setback to Washington's efforts to rein in China's assertive actions.
U.S. "Humanitarian" Bombing of Iraq: A Redundant Presidential Ritual

## Global unrest/mob rule/angry people/torches and pitchforks ##
In U.S., 65% Dissatisfied With How Gov't System Works
Sixty-five percent of Americans are dissatisfied with the nation's system of government and how well it works, the highest percentage in Gallup's trend since 2001. Dissatisfaction is up five points since last year, and has edged above the previous high from 2012 (64%).
Tens of thousands rally for Gaza in London
Liberians Protest, Demand Government Pick Up Ebola Bodies
Fatal Police Shooting of Michael Brown Sparks Protests in Missouri
Arabs Riot to Mark 40 Days Since Murder of Abu Khdeir
Zimbabwe: Protesters Beaten, Arrested
Tel Aviv anti-war rally held despite police order
Oil, gold prices supported by widespread unrest

## Energy/resources ##
Enron-ization of Water: Wall Street's Pending Resource Grab
Oil majors pull staff from northern Iraq
Ukraine Threatens to Block Gas to Europe; Bluff or Stupidity?
Exxon Drilling Russian Arctic Shows Sanction Lack Bite
China Outpaces U.S. in African Energy Investment
Russia starts drilling its northernmost oil well
Russia has begun drilling on its northernmost oil well, in the Kara Sea off the northern coast of Siberia. The well is part of a joint project between the Russian state-owned oil company Rosneft and ExxonMobil to develop the region's oil reserves, which are estimated at up to 100 billion barrels.
The U.S. Airstrikes in Northern Iraq Are All About Oil
What has the US done in Iraq that ultimately isn't about oil? -- RF
China State Grid quietly builds Mediterranean power network
Nuclear renaissance: Is nuclear power a vanishing resource?
Australia's biggest coalmine gets green light

## Got food? ##
Britain's food self-sufficiency is in long-term decline, warn farmers
Food Prices Soar in Taiwan
Russia's embargo is about to flood Europe with cheap fruit and vegetables
Sweet victory for Mexico beekeepers as Monsanto loses GM permit
Codfish numbers at key fishery hits all-time low
The level of codfish spawning in one of the most critical fisheries in the Northeast U.S. is at an all-time low, putting more pressure on a fishery already dealing with declining catch and dramatic quota cuts.
Canary In The Golden Arches: McDonald's U.S. Sales Continue To Falter
Europe Dreads America's Chlorinated Chickens

## Lifestyle Solutions ##
What's the 'Tiny House' Movement All About? (video)
The Joys of Being Productive

## Environment/health ##
Ebola Declared International Public Health Emergency
Nigeria declares state of emergency in response to Ebola outbreak
Ontario Hospital Treating Nigerian Passenger With Ebola-Like Symptoms
Ebola crisis: Guinea closes borders with Sierra Leone and Liberia
Ebola Crisis 'Going to Take Months': Former CDC Director
Glyphosate and honeybees
High Demand For Frac Sand Drives Controversial Mine Expansions
'Houses are bouncing;' quakes trigger controls on Oklahoma oil industry
The pristine village is a wildlife wasteland

## Intelligence/propaganda/security/internet/cyberwar ##
All Four Internet Service Giants Allegedly Violated Last Remaining Net Neutrality Rule
Leaked Files: German Spy Company Helped Bahrain Hack Arab Spring Protesters
Security experts call for government action against cyber threats
'Smart credit card' terminals can be hacked too

## Systemic breakdown/collapse/unsustainability ##
America's factories are crumbling — is the economy next?
The average age of industrial equipment is the highest since the Great Depression
GM issues 6 more recalls covering 312,000 vehicles
Ford recalls about 3,000 cargo vans, luxury SUVs
Volkswagen Issues Two Recalls for More Than 200,000 Vehicles
If A Water Main Isn't Broke, Don't Fix It (For 300 Years?)
The U.S. has 1.2 million miles of water supply mains, but many of the pipes are so old that water utilities lose 1 out of every 7 gallons of drinking water before it arrives to a customer.
Italy Moves Into Recession & the End of Democracy
Bridges key piece to toting big soybean harvest
"I don't quite understand where the American public thinks we're going to be in 20 years if we don't invest in infrastructure."
Southeast could become an overdeveloped 'megalopolis' in the next half century
Giant urban sprawl could pave over thousands of acres of forest and agriculture, connecting Raleigh to Atlanta by 2060, if growth continues at its current pace, according to a newly released research paper from the U.S. Geological Survey.
Fortunately, it ain't gonna happen. Unfortunately, much damage has already been done. -- RF
Ebola and the weak link of public health
It has long been my contention that one of the chief symptoms of the age of constraints we have now entered would be the decline of public health systems globally. This comes at a time when our vulnerability to a worldwide epidemic is increasing because of widespread international travel, the proliferation of densely populated megacities and the general trend toward urban living. Of course, urban environments are ideal for spreading disease because of the proximity of the residents.
Expensive energy leads to the breakdown of healthcare systems. Pharmaceutical shortages, which we have seen for a long time already, are another manifestation. -- RF

## Japan ##
Japan gov't debt at record 1,039 trillion yen at end of June
More Bad News For Fukushima And Tepco
Lowest number of elementary and junior high school students ever as birthrate continue to decline
Economists predict sharp GDP fall for Japan

## China ##
Chilling policy announced for China's instant messaging services
China's Housing Bubble Going Supercritical: Unsold Home Inventory At 23 Months, Up 25% Over Prior Year
China's grand plan for the South China Sea
Chinese regulators investigating Wal-Mart store: Xinhua
Gold lingerie a thing in China (gallery)
China using its control on yuan transactions for diplomatic gains

## UK ##
UK trade deficit widens as exports fall again
August 7 - the day the food runs out (without imports)
Patients left stranded in ambulances for 8 hours
The number of sick patients forced to queue in ambulances outside Accident & Emergency units has almost doubled in three years, new figures show, with some waiting more than eight hours for treatment. Last night senior doctors said they were growing increasingly fearful of an NHS winter crisis, with mid-summer figures showing waiting lists for operations at a six-year high.
Royal Mail scraps late collection at thousands of post boxes
Gangs raking in thousands from the rising tide of wildlife crime
Cutting benefits outside London could save millions, think tank says

## US ##
Auto Loans: Once a Boon for America, Now Malignant
Unwealthy in America: New study finds that Top 1 percent hold 37 percent of nation's wealth.
Schools use new software to monitor students' social media posts
Even Blackrock Admits It: The "Deleveraging" Story Is A Lie
Stocks may be more overpriced now than before the tech bubble burst
Fed Study Finds 2 million in "Forced Retirement", 52% Cannot Afford an Unexpected $400 Expense
Corporate 1% in U.S. Gets Wealthier While Cash Piles Up
Get used to toilet-to-tap water, Californians told
Drought lessons: Water wasters attend Water School
Strictest Curfew in U.S. Takes Effect in Baltimore
Masters of debt easing access to debt again: FICO score adjustments will allow people to take on more leverage at market peaks.
Bill Gates takes vacation on $330M yacht
Bill Gates, family, rent yacht for $5 million a week for Sardinia vacation.
"Dead Broke" – Meet the Clintons' $100,000 3-Week Hampton Rental
Back-to-School Costs Soar, Burdening the Poor
Student Debt Woes in America Have Surpassed Startling Levels

And finally...
CNN's curious geography

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