Tuesday, September 23, 2014


News Links, September 23-24, 2014

## Global Ponzi meltdown/House of Cards ##
Miracle Not Enough to Save Italy; Disruptive Eurozone Breakup Awaits
The solution to Italy's woes is quite simple – leave the euro
Euro zone business activity hits 9-month low
They Do Ring A Bell At The Top: Alibaba Proves Wall Street Is Off Its Rocker
What it shows is that Wall Street is well and truly off it rocker. The Chinese swindlers behind BABA didn't even have to tap their home market. These preposterously over-valued shares were sold overwhelmingly to Wall Street—-to the gamblers, speculators and robo-traders that have occupied what was once a reasonably honest capital market.
Ukraine Introduces Capital Controls
The iron ore industry is headed for a brutal shakeout as prices collapse
Canada is creating about half the number of jobs it should be, says Bank of Canada's senior deputy
Fitch Warns: When the Dollar's 'Pre-Eminent Reserve Currency Status' Erodes…
The Counter-Intuitive Rise of the U.S. Dollar
As things get dicier globally, assets in periphery nations typically get dumped as mobile capital flees risk and migrates to lower risk core nations and currencies.
Deyaar unveils $952m 'Midtown' mega project in Dubai
The 5.5 million sq feet masterplan comprises two hotels on the northern and southern tips, along with 13 separate residential buildings on the east side of the development, and 12 buildings clustered into four groups.
Dubai World debt restructuring deal expected soon
Nothing to see here, folks. Move right along. -- RF
German employers struggle to find apprentices
Billionaires are hoarding piles of cash
Billionaires are holding mountains of cash, offering the latest sign that the ultra-wealthy are nervous about putting more money into today's markets.
Spain Mandates Public Companies "Stop the Bleeding" No More Layoffs
Time running out for a TPP deal
The Coming Housing Bust Down Under—-More Potential Wreckage From China's Ponzi
Why Big Business Has Gone Cold on Big Appliances
People worldwide think CEOs should make a tiny fraction of what they do

## Airline Death Spiral ##
Airlines pocket $899.5M in checked-bag fees
Loss-making Air India goes in for an image makeover after entry in Star Alliance
The Air France Strike Costs $25 Million Every Day
Airlines, not travelers, dodge TSA security fees
Aviation services company to cut more than 300 jobs in Houston
Asia-Pacific's demand for pilots more than North America and Europe combined

## Fault lines/flashpoints/powder kegs/military/war drums ##
China and Iran to conduct joint naval exercises in the Persian Gulf
China-Indonesia Territorial Dispute: Chinese South China Sea Occupation Is A "Real Threat"
Turkey Closes Syrian Border Crossing As Hundreds Of Thousands Of Kurds Flee ISIS
Turkey faces refugee crisis as 135,000 Kurds flee Isil
Minds focused by IS, Saudis and Iranians think about making up
David Cameron to meet Iran leader over Isis campaign
U.S. and Arab allies launch airstrikes against ISIL in Syria
U.S. hit 8 bases tied to al Qaida affiliate in Syria, 14 belonging to Islamic State
ISIS Is Run By Former Iraqi Generals … Many Are Members Of Saddam Hussein's Secular Baath Party Who Converted To Radical Islam In American Prisons
Battle for Perpetual War is Won; US Admits Attacks on ISIS Could Last Years; Expect an Accident
Six Weeks in, US Airstrikes Haven't Budged ISIS in Iraq
Russia Holds Massive Military Drill: 155,000 Troops, 4,000 Tanks, 632 Aircraft, 84 Ships
Asia's seas offer rich pickings for marauding pirates who steal oil and supplies worth billions of dollars every year
Triumph of anti-American rebels in Yemen raises questions about Obama success claims
No, Vladimir Putin Wasn't Stalin-In-Judo Robes: Washington's Foreign Policy Fiascoes Multiply
Israel Shoots Down Syrian MiG Fighter Jet Over Golan Heights
Poland, Pakistan, Lebanon seek U.S. military hardware

## Global unrest/mob rule/angry people/torches and pitchforks ##
Hong Kong students boycott class to demand greater democracy
Multiple Blasts In China's Xinjiang Region Kill At Least 2 People, Injure Several
Climate March NYC: 'Flood Wall Street' Protest Takes Aim At Corporate New York
'Remember Fukushima': Thousands Rally Against Nuclear Restart in Japan
Six arrested over pro-Palestian protest at Glasgow-based weapons firm
Calling for End to 'Colonial' Rule, Thousands of Hong Kong Students Boycott Classes

## Energy/resources ##
Asian firms to replace Western energy majors if they leave Russia -minister
Donskoi told Reuters that Asian companies had signalled their interest as the United States targeted cooperation with Russia in exploring or producing oil from the Arctic offshore, deep water or shale projects.
Looks like another case of backfiring sanctions. -- RF
Dropping Prices and Supply Glut Sends Oil Into Floating Storage At Sea
It's wrong to interpret this as a surplus of oil. What's actually happening is that oil is less affordable to much of the world's population, leading to demand destruction. -- RF
Total Hunts for Russian Gas Project Financing After Sanctions
Europe wants Russia, Ukraine to sign interim gas deal in Berlin
Total to sell more assets, cuts oil output target
Total (TOTF.PA) will step up asset sales and overhaul exploration after cutting its oil output targets and the French oil company also said it was seeking European funds to deliver a Russian gas project on time despite international sanctions.
S.Africa signs 9.6 GW nuclear power deal with Russia
Iraq relying on oil wealth from Basra
Slovakia sees Russian gas volumes drop
Fighting close to Libyan oilfield and refinery as rival "oil minister" appears
Why fossil fuels may never go away
U.S. energy infrastructure revamp may unlock $6 trillion market: Kerry
He makes it sound so easy. One wonders where the $6 trillion will come from, while noting that it is already impossible to maintain existing physical infrastructure and institutions. -- RF
Water: A Defining Issue for Post-2015

## Got food? ##
Food waste weighing down U.S. food system
Food security is in jeopardy
Are grain farmers losing to oil for rail service?

## Environment/health ##
World Bank Says Ebola's Spread May Have Catastrophic Cost
Ebola could strike 20,000 in six weeks, 'rumble on for years': study
US warns that Ebola could infect 1.4 million
Massive Aid Needed for Ebola Outbreak as Outlook Worsens
ABC's Investigative Team Uncovers Plastic Microbeads in Toothpaste Getting Stuck in Patients' Gums
China Surpasses EU in Per-Capita Pollution for First Time 
Brazil says no to global forest plan
UN: H5N6 Avian Flu Strain 'Particularly Worrisome' As It Sweeps Southeast Asia
Fatal lightning strikes reap heavy toll in developing world

## Intelligence/propaganda/security/internet/cyberwar ##
Australia Set To Overhaul Anti-Terror Laws In Response To ISIS Threat
Afghan President Hamid Karzai Slams U.S. Foreign Policy in Farewell Speech
Anonymous Hacker Group Launches Cyber War Against Islamic State Militants: Reports

## Systemic breakdown/collapse/unsustainability ##
Must read: Low Oil Prices: Sign of a Debt Bubble Collapse, Leading to the End of Oil Supply?
I agree that technological innovation is one of the keys to economic growth. I would just like to add that the leap in high tech and innovation we have experienced has been made possible by the fossil fuel bonanza, primarily oil. In that consideration, the crash of the debt bubble and the much lower availability of fossil fuel energy will change this positive feedback loop into a negative feedback loop, thereby more quickly exacerbating socioeconomic problems and accelerating collapse. Have a nice day! -- RF
Affluence eludes poor crowding into Asian cities
Moving rural people to the cities was supposed to make them better off. Unfortunately, this merely assures that cities will end up with more slums and unrest. -- RF
The world's most murderous cities
A Short History Of The American Empire And Why It Is Failing, Part I
On the Breakdown of Nations
Chrysler recalls 230,760 SUVs globally for fuel pump issue
GDP = Waste
Any system that has no way to measure, much less prioritize, opportunity costs and maximization of utility is not just flawed--it is terribly misguided and structurally destructive.

## Japan ##
Report: Japan Wants Its Own Early-Warning Planes
Japan's electric utilities face cost hit on falling yen
Japanese electricity utilities, already reeling from high fossil fuel bills to replace idled nuclear units after the Fukushima disaster, are being hit further by the falling yen, which is increasing costs that can't be recouped, executives said.
OECD says Japan should raise sales tax again next year
Prime Minister Abe's Keynesian Delusions
Majority of municipalities planning residential decontamination haven't finished work
Fukushima cleanup going painfully slow
TEPCO having trouble with 'ice wall' at Fukushima plant
Demonstrators rally against restarting nuclear plants
August supermarket sales down
Due to bad weather! -- RF

## China ##
China's Economy Slams On The Brakes: 30% Of Coal Miners Unable To Pay Employees On Time
New research suggests China's CO2 output is almost twice U.S.'s
Chinese Court Jails Uighur Scholar For Life For Separatism
DuckDuckGo Search Engine Blocked By Government Authorities
As pessimism grows in Hong Kong, so do fears of potential exodus

## UK ##
Buying gold has never been this easy
The British Royal Mint on Monday launched an online bullion trading service in a bid to attract investors to the precious metal.
Tesco in crisis: City fears £250m profit debacle could be just the start
London transport chief warns city could face riots as transport crisis looms

## US ##
Scam Alert: Hospitals All Over America Are Wildly Inflating Medical Bills
Welcome to the Oligarchy – United States Leads the Developed World in Share of Low Wage Jobs
Burning money: Cost of fighting wildfires robs funds to prevent them
Investors leaving housing high and dry
Is RadioShack in critical condition?
Number Of Homeless School Children On Rise, But Stats May Underestimate True Picture
High Cost of Bad Journalism on Ukraine
By driving a wedge between President Obama and President Putin over Ukraine, America's neocons and the mainstream media can hope for more "shock and awe" in the Mideast, but the U.S. taxpayers are footing the bill, including $1 trillion more on nuclear weapons.
This Is About As Good As Things Are Going To Get For The Middle Class – And It's Not That Good
Kansas Governor to Sign 'Zombie Preparedness Month' Proclamation
How about an ebola apocalypse? -- RF
What Are Corporate Insiders Seeing that Makes them Dump their Shares Like This?
Why we won't have enough money to fight ISIS
Weak Incomes Trump Cheap Debt: Y/Y Existing Homes Sales Down For 10th Straight Month
Police Departments Investigated for Civil Rights Abuses Still Get Free Military Weapons

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