Sunday, October 05, 2014


News Links, October 4-6, 2014

## Global Ponzi meltdown/House of Cards ##
Half of Korean Mortgage Loans Not Used For Home Purchases
South Korea's household debt has more than doubled over the last decade to almost $1 trillion. The debt-to-disposable-income ratio in South Korea of over 160% is much higher than that of the U.S., Germany, France and the U.K.
IPO Mania Collapses in Germany
Europe And Japan Update: Time To Be Very Afraid—There's Going To Be Carnage Out There
Default looms for millions of Australians
More than 2 million people, or 13 per cent of the estimated 16 million Australians using credit, are at risk of credit default.
Mario Draghi's QE: too little for markets, too much for Germany
Mario Draghi, the ECB's president, seemed unable to secure backing for his €1 trillion stimulus plan from Germany
Global Inequality Reaches Levels Not Seen in Nearly 200 Years
Canada's trade gap shocker bound to raise red flag for Bank of Canada
Ebola Could Cause 'Economic Collapse' Guinea's President Warns
Iraq's Economy Collapsing Under Pressure of Security Crisis
Analysts Are Slashing Guidance Ahead Of Q3 Earnings Results
Here We Go Again: Greece Will Be In Default Within 15 Months, S&P Warns
Truth Of The Monetized New Millennium: Gold Is The Top Performing Asset Class
Surging dollar may be triple whammy for U.S. earnings

## Airline Death Spiral ##
Skymark able to stay in business as Airbus slashes penalty
Electronic Systems Crash Paralyses Airport operations
A sudden failure of all electronic systems at the international terminal of the Chennai airport, paralysed operations  during peak hour. According to well-placed sources, Customs and Immigration departments were the worst hit by the failure, as individual airlines managed to get their back-up servers online and continued functioning.
Those Terrible Bag Fees Are Keeping The Airline Industry Afloat
Air India Dreamliner woes continue
Russia's major air carrier Aeroflot cancels flights to Canada
Zombie airports: When business fails to take off
As one British airport faces imminent closure, and another is set to lose all scheduled flights this month, a senior aviation figure has said departure tax should be applied only at London airports.Losing altitude
Global airline IPOs still need tailwind to fly
Only three out of 15 global airline stock listings since the start of 2010 are trading above their offer price as of October 3... Returns in the industry worldwide remain 2.2 per cent below the cost of capital, the International Air Transport Association reported in June.
Airports, airlines and Ebola: 5 things to know
U.S. Considering Tougher Ebola Screening at Major Airports
Ebola fear leads to quarantine for 2 United Airlines passengers
Airfares remain stable despite decline in airline competition

## Fault lines/flashpoints/powder kegs/military/war drums ##
ISIS News Update: Islamic State Seizes Town In Iraq Close To Haditha Dam
Canada To Send Fighter Jets, Surveillance Planes To Battle ISIS In Iraq
Analysts Sound Alarm on 'Myth' of Moderate Syrian Rebels
Pakistan Taliban Pledges Support To ISIS Militants
The Siege Of Kobani: Obama's Syrian Fiasco In Motion
Air strikes against Isis are not working, say Syrian Kurds
US eases arms embargo on Vietnam amid China's maritime expansion
Japan military observes island defense exercise in Philippines, aimed at countering China
US will respond to attempts to seize Senkakus
Catalonia's Choice: Chaotic Divorce or Loveless Marriage
Putin signs law ratifying treaty on Eurasian Economic Union
Qatar and Saudi Arabia 'have ignited time bomb by funding global spread of radical Islam', says British general
Mass graves with charred victims found in southern Mexico
US Navy: Self-guided unmanned patrol boats make debut
Self-guided unmanned patrol boats that can leave warships they're protecting and swarm and attack potential threats on the water could join the Navy's fleet within a year.
Reengineering Reality in Mexico
Russian fighter jet passes 'within feet' of Swedish surveillance plane over Baltic Sea
China, Russia flex muscles in increasing number of close calls with U.S. aircraft
A recent spate of dangerous midair encounters between American military aircraft and Chinese and Russian planes in the Pacific is the result of increasingly assertive strategies by both U.S. adversaries to project power far beyond their borders, according to the top U.S. Air Force commander in the region.
All the countries—including Sweden—that now recognize Palestinian statehood

## Global unrest/mob rule/angry people/torches and pitchforks ##
Pro-Beijing groups are systematically attacking protests in Hong Kong
Hong Kong protests: Police arrest 'triad gang' members
Student group pulls out of talks to end Hong Kong protests as pro-government violence mounts
Police shooting protest halts St. Louis symphony
800 Towns in Catalonia Pledge Support for Independence Referendum

## Energy/resources ##
U.S. power grid survived polar vortex, but only just
DOE eyes limiting aircon temp in malls to save energy (Philippines)
S.Africa's energy regulator grants 12.7 pct power price hike
Siemens may close some energy plants amid low margins
Statoil plans to slash more jobs
Norway's state oil company Statoil, faced with falling oil prices and rising costs, reportedly plans to cut another 500 jobs on its offshore platforms. More land-based employees may lose their jobs as well, as the country's oil and offshore industry stops gushing.

## Infrastructure scavenging ##
Gautrain services resume after cable theft (South Africa)

## Got food? ##
Wichita's food charities find explosion of need
Beef recall prompted by pieces of metal in meat
3 More NW Illinois Counties Show Insect Resistance to Monsanto's GMO Bt Corn
Monsanto launches Mexico center for developing improved corn seeds

## Lifestyle Solutions ##
What Are We So Afraid Of?
We've put all our hopes, dreams and chips on Plan A, as if security flows from institutional promises rather than from being adaptable, resilient and able to create value in a variety of circumstances.

## Environment/health ##
U.S. defends Ebola response, about 50 under observation
Ebola Outbreak: Hazmat-Style Suits Face Distribution Crunch In Africa
More U.S. troops being sent to battle Ebola
American TV cameraman in Liberia tests positive for Ebola
'Counting the Minutes': NBC News Freelancer With Ebola Headed to U.S.
Ebola crisis: Virus could reach the UK and France by the end of the month, scientists claim
Outbreak of Ebola-Like Marburg Fever Kills Man in Uganda
Miami Beach, October 9: Apocalypse Foretold
The projected sea-level rise of the next quarter-century or so because of climate change will occur, albeit briefly, in Miami next Thursday. On that day, the alignment of the sun, earth and moon will produce a King Tide — the highest high tide of the year, a full foot above normal, or about half the sea level rise Miami is expected to experience by 2060.
Coral reefs are a $30 billion asset we can't afford to lose
Pakistan polio outbreak hits record high
The accidental release of 45 litres of concentrated live polio virus solution into the environment - Belgium

## Intelligence/propaganda/security/internet/cyberwar ##
The NSA and Me (James Bamford)
Turkish President Proclaims "I Am Increasingly Against the Internet Every Day"
Hackers who hit JPMorgan attacked some nine other firms: report
Police Departments Retaliate Against Organized "Cop Watch" Groups Across the US
Major 9/11 Truth Activist Found Dead from Apparent Suicide
NYT's Belated Admission on Contra-Cocaine
Since the Contra-cocaine scandal surfaced in 1985, major U.S. news outlets have disparaged it, most notably when the big newspapers destroyed Gary Webb for reviving it in 1996. But a New York Times review of a movie on Webb finally admits the reality.

## Systemic breakdown/collapse/unsustainability ##
Latest GM recalls cover 57,000-plus vehicles
A bridge too far gone: Massachusetts still faces infrastructure headaches
Poll: Americans worry — can government protect us?
Americans lack confidence in the government's ability to protect their personal safety and economic security, a sign that their widespread unease about the state of the nation extends far beyond politics, according to the latest Associated Press-GfK poll.
The Sand Thieves: World's Beaches Become Victims of Construction Boom
Sand is becoming so scarce that stealing it has become an attractive business model. With residential towers rising ever higher and development continuing apace in Asia and Africa, demand for the finite resource is insatiable.

## Japan ##
IMF Rethinks Economic Health Benefits of Japanese Pork
Sorry, I can't agree with the IMF, whose officials should live here and watch what's left of the countryside retreat under the relentless onslaught of totally needless construction projects. -- RF
Tourism industry hit hard by Mt. Ontake eruption
Govt. to help smaller firms hit by high prices
Japan's government says it will help smaller businesses struggling with higher costs for fuel and other imported materials amid the yen's depreciation.
Retailer Aeon's 1st-half profit down 41% on consumption tax hike
Japan Coast Guard beefing up fleet for patrol of Senkaku Islands
TEPCO doubles tsunami height in damage estimate for Fukushima plant
Difficulties remain in protecting nuclear plants from volcanic eruptions
Citi Warns "The Land Of The Rising Sun Is Setting"

## China ##
China Responds To Alarming Local Debt Crisis
On Thursday, the Chinese central government announced on its website that the State Council, with the approval of the National People's Congress, will establish quotas for borrowings by local governments. Moreover, Beijing said it was banning fund raisings through special purpose vehicles and other "corporate channels"  and announced it will not fund bail outs.
China Touts Anti-stealth Radar

## UK ##
Savings could see street lights turned off and parks left unlocked at night
Conservatives pledge powers to ignore European court of human rights rulings
Scotland power shortage warning as coal plant faces closure
Worst housing crisis since end of WWII looms
Quality of basic GP healthcare is plummeting, poll of medics finds
More than 2,000 care homes have no manager
Scottish Police Investigate Referendum Fraud After 'Hundreds of Uncounted Yes Votes' Found

## US ##
Nonfarm Payrolls 248K; Unemployment 5.9%; Employed +232K; Labor Force -97K
Were it not for people dropping out of the labor force over the past several years, the unemployment rate would be well over 9%.
September Jobs: Some Numbers Bubblevision Didn't Mention
That's right, the labor force grew by only 7% of the gain in adult population. That explains, of course, why the labor force participation rate of 66.0% back at the time of the crisis has plunged to a 36-year low of 62.7% in September. Or to put it another way, the employment-to-population ratio of 59.0% last month compared to just under 62% six years ago and 64.2% in the year 2000.
Those not in the labor force but looking for a job now rose last month: The funny numbers behind the unemployment rate.
Older workers clog the employment pipeline
Sears: Why the troubled chain's vendors are worried
Sears Holdings Corp.'s deepening financial troubles have forced insurers and banks to raise the cost of guaranteeing payment to vendors, rattling the retailer's supply chain as the company heads into the key holiday season.
How Payday Loans Leave Cash-Strapped Borrowers Unbankable
Poorsplaining: What It's Really Like to Be Poor in America
The Retirement Crisis Is Real
Chicago pension crisis balloons, underscoring calls for reform
Chicago's unfunded pension obligations have ballooned to $37.3 billion — a more than three-fold increase since 2003 — because of inadequate employer contributions, declining investment income and a shrinking base of active employees, a taxpayers' watchdog group has concluded.
During An Ebola Pandemic All Of Your Rights Would Essentially Be Meaningless
Introducing "Car Condos" – Wealthy Baby Boomers Embark on One Last Misallocation of Capital Binge by Purchasing $600,000 Garages
Inflation over 270 years
It is hard to feel the tornado of price erosion when you are standing in the eye of the financial storm.
American Way: between Democrats and Republicans, a libertarian "third force" is emerging
Snow Spotted in Chicago as City Prepares for Record Temps
What natural gas supplies mean for your winter heating bill
The ongoing U.S. energy boom may be driving gasoline prices lower, but homeowners who heat with natural gas may be in for another winter of sticker shock.
If California doesn't get rain this winter ...
Woman Held in Jail for Weeks Over SpaghettiOs
Call of Duty Director Says U.S. Should Station Soldiers in Schools
The Bulletproof Classroom: Armored Whiteboards Defend Against School Shootings
Prepare to start paying for tap water (at restaurants)
3 Dead, 26 Wounded in Weekend Chicago Shootings
Stun Guns Used on Man Who Died in New London Police Custody
Liar Loans Proliferate in Used Car Market

And finally...
Landlords: Tenants often leave sex toys behind

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