Wednesday, December 10, 2014


News Links, December 11, 2014

## Global Ponzi meltdown/House of Cards ##
Greece Lurches Back Into Crisis Mode
Gold Surges As Greece Crashes - Eurozone Debt Crisis Part II Cometh
High-Yield Credit Crash Accelerates
Think Central Banks Are Done? Stimulus to Accelerate in 2015
Sanctioned Russian banks begin testing national payment system next week
The move comes as a part of Russia's ambitious initiative to move away from the Western dominance of its financial markets. Last month the Russian Central Bank said it would have its own international inter-bank payment system, an alternative to the global SWIFT network up and running by May 2015.
Global stocks decline; Shanghai falls by up to 6%
European Banks At Risk Of Bail-Ins In 2015 - Moody's and S&P Warn
Auditor-General sounds alarm over Ontario's growing debt
Central Banks Create Deflation, Not Inflation
NIRP In One Picture: €400 Billion In European Government Debt Currently Has Negative Yields
Anyone That Believes That Collapsing Oil Prices Are Good For The Economy Is Crazy
France looks to work 'le weekend'
Spain Seeks €60 Billion of Juncker's Alleged €315 Billion Development Fund; Vaporware Funding
Ukraine Bonds Crash To Record Low After Economy Minister Asks For More IMF Bailouts
Shares in Dubai Parks and Resorts open well below IPO price
Shares in Dubai Parks and Resorts (DPR), which is building a $2.9 billion amusement park complex in the emirate, opened sharply below their initial public offer price as they listed on Wednesday. The drop was a fresh sign of a collapse of sentiment among retail investors in Dubai, who have dumped stocks as oil prices have hit five-year lows in recent weeks.

## Airline Death Spiral ##
Hawaiian Airlines to add slim line seats on short-haul planes
Coming in 2015: Delta Airlines to split its aircraft into five different fare classes
Airbus hints it may ditch A380 after finding no takers for superjumbo this year
Airbus Group NV raised the prospect of discontinuing its A380 superjumbo as soon as 2018, the first admission that it may have misjudged the market for the double-decker after failing to find a single airline buyer this year.
Skymark plans to request support from ANA

## Fault lines/flashpoints/powder kegs/military/war drums ##
NATO Intercepts Russian Bombers Over Baltic Sea
US Tanks Are Rolling Across Latvia
Rebels in northern Syria say U.S. has stopped paying them
Iran versus the Islamic State
CIA Torture Reports: Frozen to Death; Rectal Rehydration, Broken Limbs; 54 Countries Assist US; Dick Cheney War Criminal
New nuclear weapons needed, many experts say, pointing to aged US arsenal
India's weapons plans raise specter of nuclear arms race in Asia
Gorbachev calls for U.S.-Russia summit to defrost ties
The Great South China Sea Hydrocarbon Grab
China arming stealthy subs with long-range nuclear missiles

## Global unrest/mob rule/angry people/torches and pitchforks ##
Hong Kong Protest Update: Police Target Last Pro-Democracy Site To Clear Supporters
Thousands of demonstrators surround Irish Dáil in protest over water charges
Tens of thousands of demonstrators opposed to the introduction of water charges in Ireland surrounded the country's parliament bringing Dublin to a near standstill.
U.S. chokehold protesters 'die-in', issue demands in NY
Hundreds protest as Japan's state secrets law kicks in

## Energy/resources ##
World Proved Oil Reserves Data A Work Of Fiction
BP Weighs Future of Aging Norwegian Fields Amid Oil Crash
As oil prices keep falling, BP Plc (BP/) is among Norwegian oil producers having to take a hard look at whether to kill off aging offshore fields earlier than planned because squeezing out the last barrels might not be worth it.
Oil's slide means these companies need to slash budgets
On Wednesday, Goodrich Petroleum Corp. GDP, -8.80%   announced a starkly reduced plan for capital expenditure for 2015 which put the amount between $150 million to $200 million. Compare that to Goodrich's budget last year, which was $375 billion. Goodrich said that the 2015 number could be raised if oil prices improve. But it also said it will explore the sale of its shale assets.
Crude Rises Amid Speculation Over U.S. Shale-Oil Supply Growth
Could the US bail out its own oil sector?
An economist who correctly predicted the fall in oil price this year has told CNBC that the U.S. government could look to bail out its energy sector in 2015 as the commodity's low price starts hitting the country's economy.
Leveraged-loan yields go exponential. Offshore drillers worst off.
The OPEC Conundrum: Expect Production Cuts Before June 2015
Fracking Discounts Seen Cutting Profits by $3 Billion
Oilfield contractors hired to drill wells and fracture rock to raise crude and natural gas to the surface will have to lower prices by as much as 20 percent to help keep their cash-strapped customers working.
Why US Shale May Fizzle Rather Than Boom
This Chart Shows Which Countries Get Mauled the Worst by the Oil Bust
Not Just Oil: Guess What Happened The Last Time Commodity Prices Crashed Like This?…
Divestment Campaign Aims to Bleed Dry the Fossil Fuel Industry
Petrobras funding options run slim as scandal deepens
BP to spend $1 billion on thousands of job cuts
BP (BP.L) will cut thousands of jobs cut across its global oil and gas business by the end of next year in a $1 billion restructuring programme announced on Wednesday following steep falls in oil prices.
Power cuts alarm South Africa's mining sector
Belgium asks for solidarity to prevent electricity blackouts
E.ON's Brazil utility Eneva files for bankruptcy protection
Russia, India to Discuss Annual Oil Deliveries Up to 5 Mln Tons: Reports
Jeff Rubin: Falling Oil Prices "Harbinger of What's to Come"

## Got food? ##
Hardship on Mexico's farms, a bounty for U.S. tables
A Times reporter and photographer find that thousands of laborers at Mexico's mega-farms endure harsh conditions and exploitation while supplying produce for American consumers.
Farmers, Consumers Challenge Monsanto-Backed GMO Bill Designed to Keep Public in the 'DARK'
An Insurance Policy for Climate Change? How Seed Banks Are Protecting the Future of Food
While crude oil plummets, the price of olive oil is skyrocketing

## Lifestyle Solutions ##
Knowing what 'just enough' is: Azby Brown on Japan's Edo period - Part One

## Environment/health ##
Even With Emissions Cuts, Climate Change Adaptation Costs Likely to Hit 2-3 Times Current Estimates of $70-100 Billion per Year (UNEP)
Heatwaves likely 'every other year' by 2030s, says Met Office study
Risks of extreme European summer heat waves rise sharply: study
Abandoned U.S. oil wells still spewing methane, study finds
U.S. agency offers legal immunity to Ebola vaccine makers
Malaria progress threatened by Ebola, drug resistance, says WHO
Ebola outbreak: Virus still 'running ahead of us', says WHO
The Environment: Increasing Waste
Full scale of plastic in the world's oceans revealed for first time
Clean-up of Israeli desert oil spill could take years - experts
Island Nations Are Now Screaming It: Climate Change Will Sink Us
Generations of Victims: Bhopal's Unending Catrastrophe

## Intelligence/propaganda/security/internet/cyberwar ##
Horrific details from the torture report
Senate report says CIA torture methods yielded no useful intelligence
Obama's Reaction to the Senate Report: Torture is Good
Revelations from the Torture Report – CIA Lies, Nazi Methods and the $81 Million No-Bid Torture Contract
Robots, Not Humans, Fake 23% of Web Video Ad Views, Study Finds
Computers being remotely operated by hackers account for almost one in four views of digital video ads worldwide, according to a study that estimates such fraud will cost advertisers $6.3 billion dollars next year.
Hacker message demands Sony not show 'The Interview'
Cyber Attack Could Cost Sony Studio as Much as $100 Million: Experts
Microchip implants in humans grow in popularity, some 50 Dutch people are 'chipped'
Hitachi builds finger vein recognition technology
Researchers at Japanese electronics firm Hitachi say they have developed biometric technology that identifies people by scanning the veins in their fingers even if they are walking.

## Systemic breakdown/collapse/unsustainability ##
Nissan recalls 470,000 vehicles over fuel leak problem
Honda air bag recall goes global; 19 million cars now involved
Why Is The US Treasury Quietly Ordering "Surival Kits" For US Bankers?
China and India: Accelerating to the Finish Line

## Japan ##
Japan threatened with credit rating downgrade
RBS Abandons Japanese Bond Trading, Cuts 200 Jobs; Stocks, USDJPY, JGB Yields Are Re-Plunging
"More Scarecrows Than People": A Tragic Preview Of Japan's Terminal Collapse
Japan secrecy law takes effect amid protests
Majority of Japanese companies mine big data
Japan's looming benefit cuts an unspoken, unsettling election theme
Tokyo governor worried by cost of adding new Olympic sports in 2020
Tokyo Gov. Yoichi Masuzoe on Tuesday cautiously welcomed the International Olympic Committee's decision to open up the event to new sports but spoke of anxiety over the costs of providing them in 2020.
Anti-Korean 'hate speech' rallies continue in Kyoto

## China ##
A Brutally Candid Insider's View Of China's Ponzi—–It's Far Worse Than You Think
Macau's Casinos Empty as China Stock Bets Jump: Chart of the Day
'A Universe Beneath Our Feet': Life In Beijing's Underground
China takes nuclear weapons undersea away from prying eyes
Citing CIA torture report, China accuses U.S. of human-rights hypocrisy
Red Light Dawning: Beijing Is Discovering Its Printing Presses Have Generated Massive Waste
Why Beijing's Troubles Could Get a Lot Worse

## UK ##
Birmingham turns page on glittering new library as staff and hours slashed
Britain calls on NATO allies to help in submarine hunt: media
NATO allies sent patrol planes to help Britain scour the waters off its western Scottish coast after a submarine's periscope was spotted, in a search reminiscent of the Cold War, media reported.
Up to 17,000 people without power as 'weather bomb' hits Britain
The Bank of England is preparing the next crash

## US ##
Congressional Leaders Agree To Cut Aid To College Students To Pay Student Loan Contractors
Congress eyes move to cut pension benefits
Welcome to the Recovery – McKinsey Survey Shows 40% of Americans Living Paycheck to Paycheck, Up From 31% in 2012
The American Dream deferred for young Americans
Living in rentals, inflated college tuition, and low wages await millions of young Americans.
Retailer's Subprime Explodes, Shares Crash 40%, Junk Bonds Fall into "Price Discovery"
Struggling Atlantic City, NJ to slash bond deal by 71%
Illinois Passes Law Making it a Felony to Video Police; How to Stop Police Abuse; More on CIA Torture
More than 1 in 10 adults say they'll die in debt
Nearly 1 in 5 Americans Expect to Die in Debt
More than a third of consumers are taking on additional debt in the holiday season.
When nuclear power plants are built, the Nuclear Regulatory Commission (NRC) has the authority to issue initial operating licenses for a period of 40 years. Beyond that, the reactors need license renewals, and the NRC has granted 20-year license renewals to 74 of the 100 operating reactors in the U.S., according to the Energy Information Administration.

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