Thursday, December 11, 2014


News Links, December 12, 2014

## Global Ponzi meltdown/House of Cards ##
Eurozone Comes Back to Reality With a Crash
Charts Show 28 Seriously Troubled Mega-Banks: 24 of them in Europe
Yuan Has Real Shot at IMF Blessing on Reserve Status
Venezuela has a 93% chance of defaulting on its debt
Norway Central Bank, Slammed By Oil Plunge, Warns Of "Severe Downturn", Unexpectedly Cuts Rates
Central Banks' 2% Plan to Impoverish You
Anyone with basic Excel skills can calculate the cumulative impoverishment caused by central banks' "modest" 2% annual inflation.
Investors are in denial about the energy bust
Why The Market Is 'Hideously Expensive': There's Way Too Much Debt In The World, But The Money Printers Want Even More
$550 Billion Energy Junk Bond Bubble Busts; "Whac-A-Mole" Distortions in Multiple Markets
Indian households spend 8% of its daily consumption on gold jewellery and coins
Chinese and Indian gold demand boost fundamentals further
Inflation rate -0.2 percent (Sweden)

## Fault lines/flashpoints/powder kegs/military/war drums ##
Iraq's Western Sunni Tribes Are Organizing Into Militias To Fight ISIS
Germany plans to send troops to Iraq to train Kurdish fighters
Iraq's Sadr readies militia to fight for Samarra
Vietnamese crewman shot dead in pirate attack off Singapore

## Energy/resources ##
SBM to Shed 1,200 Positions in Restructuring Move
Dutch oilfield services firm SBM Offshore announced Thursday that it will cut 1,200 positions out of the 10,500 people it employs worldwide by the end of 2015 as it seeks to reduce costs in a tough market environment.
It turns out that making electricity from the ocean is tougher and more expensive than people thought. Offshore generators—which include submersible turbines powered by tides and buoy-like devices that bob on the surface to capture the kinetic energy of waves—have to withstand "an incredibly harsh environment" of salt water, storms, and powerful currents... Specially designed ships are needed to install and maintain the equipment. All this drives up costs to as much as four times the cost of generating electricity from coal.
Hundreds of brick kilns stop operation for want of coal (Bangladesh)

## Infrastructure scavenging ##

## Environment/health ##
Awash in Plastic: Oceans May Hold 250,000 Tons of Trash

## Intelligence/propaganda/security/internet/cyberwar ##
Spanish news to vanish from Google News globally
In a decision that will reverberate around the globe, Google announced Thursday it will close Google News in Spain and block reports from Spanish publishers from more than 70 Google News international editions due to a new Spanish law requiring aggregators to pay to link content.
Police can search cellphones without warrant during arrest: court (Canada)
America's Illusion of Free Will
The mainstream U.S. news media's narrow parameters, especially on foreign policy issues, give the American people little opportunity to engage in meaningful debate or to influence outcomes. Typically, public perceptions are managed and consensus is manufactured.

## Systemic breakdown/collapse/unsustainability ##
Increased controls, competition spell trouble for Japan producers
Anti-dumping measures, bolstered quality controls and the advances of Chinese manufacturers are creating a tough climate for Japanese steelmakers.
Nissin Frozen Foods Co. said Wednesday it will recall about 750,000 packs of frozen pasta products after some were found to contain parts of insects believed to be cockroaches.
Pinning hopes on such junk energy shows how desperate the situation is. -- RF

## UK ##
Food prices 12% higher on average in real terms than in 2007
Government report shows food prices rising, while consumers trade down to cheaper brands to save money
Britons are living beyond their means, says OBR

## US ##
Minnesota is one polar vortex away from energy crisis
With a warm-up predicted for coming days, bitter cold may be a memory, but experts say propane and wood for heating and coal for generating electricity could be in short supply if this winter begins to look like last winter.

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