Wednesday, December 24, 2014


News Links, December 25, 2014

## Global Ponzi meltdown/House of Cards ##
The Fracturing Bubble Down South: Brazil Is Another Victim Of Global Money Printing
Coke to cut up to 2,000 jobs in coming weeks: WSJ
Low Oil Prices Pushing Venezuela Towards Default
PUMP! More records for U.S. stocks as Dow tops 18,000 for first time
Global Monetary Power Shifts from Dollar, China Stakes Claim, Rescues Currencies of Argentina and Russia
South Korean elites: Scions of corporate empires face cold reality of today's economy
Russia Under Attack: Letter from CEO of Genoil to CEO of JPMorgan Chase on US Foreign Policy Blowback
Belarus Imposes Moratorium on Rising Consumer Prices; Get Out While You Can
French jobless total at new record high
Pepe Escobar: Blowback after blowback for the "Empire of Chaos" (interview)
It's Official: The Worldwide Bail-ins Are Coming
A Major Silver Shortage Must and Will Occur

## Airline Death Spiral ##
'Intruders' At Pakistan's Islamabad Airport Force Emergency Shut Down For Security Threat: Reports
Guns 'routinely' smuggled as hand luggage aboard US airliners
Frontier Airlines ending service at Spokane International Airport

## Fault lines/flashpoints/powder kegs/military/war drums ##
Russia condemns Ukrainian law that paves way to Nato
Moscow promises to retaliate after Ukrainian MPs approve bill to abandon non-aligned status
Russia Signals More Military To Belarus as Ukraine Briefly Cuts Power To Crimea
Up to 300 extra soldiers deployed in France after attacks
French prime ministers says up to 300 soldiers would be deployed around the country over Christmas to ensure security
Global Arms Treaty Enters Into Force On Wednesday

## Global unrest/mob rule/angry people/torches and pitchforks ##
Record numbers rally against 'Islamisation' in Germany
New York City Mayor Bill DeBlasio Calls For Suspension Of Protests After Killing Of Two NYPD Cops
Brooklyn Police Shooting: Protests Against Police Amid Dim Lights In Honor Of Slain NYPD Officers
Following 'Black Lives Matter' Mall of America Protest, City Launches 'Attack' on Alleged Leaders
One Killed And 20 Captured As Religious Extremists Try And Enter Southern China

## Energy/resources ##
Will the Fed Intervene in the Oil Market?
The problem with financializing a critical sector of the economy is the financialization process transforms it into a systemic risk. The trajectory of every financialized sector is the same: debt and leverage are piled ever higher on a base of collateral that eventually collapses as heightened risk becomes the Monster Id of a crowded trade.
Crisis Summit To Save North Sea Oil Industry
Aberdeen's City Council is calling for a summit of government, business and labor leaders to search for ways to ease the severe challenges that low prices are posing to Britain's North Sea oil industry.
If Shell Backs Out, Arctic Oil Off the Table for Years
OPEC May Cull Weaker Members
Billionaire Shale Pioneer Cuts Spending 41% on Oil Crash
Billionaire Harold Hamm, whose early adoption of shale drilling in North Dakota helped usher in a U.S. energy renaissance, plans to cut spending by 41 percent at his company after the plunge in oil prices.
Latest Numbers Reveal The Bakken Is Close To Peaking
It is has now been confirmed. The first measured 24 hour production from Bakken wells is a very good predictor of the future production of that well. And it has also been confirmed that new wells with higher well numbers are producing a lot less.
The Dangerous Economics of Shale Oil
Norway's Statoil dumps U.S. shale acreage
Global Consumption of 'World's Dirtiest Energy' Continues to Rise
I Call BS on Projections of a Decade of $20/Barrel Oil
So do I. Already oil production is beginning to collapse. That's going to continue for a decade? -- RF
Paper: Maersk CEO Says Low Oil Price May Lead to Closures
A. P. Moller-Maersk's Maersk Oil unit would have to close some sites and cut operating costs if the oil price remains at its current level, the group's CEO said in an interview in Danish daily Politiken on Tuesday.
As you can see, they are not waiting for $20/bbl oil. -- RF
Israel's Gas Dream: The End Is Nigh
Libya not producing enough oil for own needs, NOC says
Ukraine warns of more power cuts if mild weather fades
Ukraine temporarily cuts off power supplies to Crimea
Ukraine temporarily cut off power supplies to Crimea on Wednesday after the Russian-controlled peninsula failed to curb consumption as required due to a power crisis, the Ukrainian energy ministry said.
Fracking Fracas: The Trouble with Optimistic Shale Gas Projections by the U.S. Department of Energy

## Lifestyle Solutions ##
Christmas Stress? Why Anxiety-Fueled Indulgences Don't Bring Joy

## Environment/health ##
Staring at a phone or tablet before bed may be hurting sleep, study finds
MERS research improperly conducted at Iowa college
A University of Iowa scientist has been sanctioned for launching work on the deadly MERS virus without school approval and outside of the proper laboratory setting.
Ebola plays Scrooge on Sierra Leone's Christmas
CDC Reports Possible Ebola Exposure at Containment Lab
Patients with 'flesh-eating bacteria' hit record (Japan)

## Intelligence/propaganda/security/internet/cyberwar ##
S.Korea official says cannot rule out North's hand in hack of nuclear operator
North Korea Internet hit by 2 more outages
Who hacked Sony becomes Internet's new mystery
Sony Pictures to distribute "The Interview" online
Internet privacy will be mostly gone by 2025, according to experts
Seattle Police Held a Hackathon to Figure Out How to Redact Body Cam Video Streams
Anti-terror police arrest two in Australia
The Military Wants Smarter Insect Spy Drones
Daily BS: Navy SEAL Robert O'Neill, Who Killed Osama Bin Laden, Under Investigation For Possible Information Leak
Citizenfour Producers Sued for 'Aiding' Edward Snowden
Hundreds of Thousands Call on FCC to Halt 'Disastrous Merger'
Terrorist material reappears online 'as quickly as it is banished', warns thinktank
If cyberwar erupts, America's electric grid is a prime target
Cybersecurity experts say that targets in a cyberwar wouldn't be Hollywood studios but instead the nation's critical infrastructure, which is already under attack by hackers trying to infiltrate, study, and potentially cripple US utilities.

## Systemic breakdown/collapse/unsustainability ##
Trolley rage stuns shoppers in 'war zone'
How to manage anger in the age of rage
India Slashes Health Budget, Already One Of The World's Lowest
The government has ordered a cut of nearly 20 percent in its 2014/15 healthcare budget due to fiscal strains, putting at risk key disease control initiatives in a country whose public spending on health is already among the lowest in the world.
Porsche recalls its 918 supercar

## Japan ##
How Japan Bankrupted Itself: Lessons For Europe
Japan $29 billion stimulus seeks quick boost for regional economies: draft
Govt to apply social numbers to bank accounts
The better to keep track of people and their assets and transactions. Watch as still more people shift to safe deposit boxes and stuffing their mattresses (or "bureau-drawer deposits," as they are known in Japan). The Japanese love to have cash on hand, and there is already a staggering amount of cash stashed away in Japanese homes and offices. This will no doubt further push the shift of assets to banknotes and gold. -- RF
Japan to cut taxi fleet to ease congested market
Abe reelected PM, forms 3rd Cabinet
New defense minister favors strong military
Kansai Electric Power Co applies for 10.23% rate hike
In filing its application, KEPCO, Japan's most nuclear-reliant utility that provides power to the country's second biggest metropolitan area, said that its corporate survival was "at risk."
8 automakers' Nov. domestic output drops for 5th straight month
Japan to Build World's Biggest Floating Solar Farm
Four more Fukushima children suspected of having thyroid cancer

## China ##
China quietly joins Asia's currency wars to avert deflation
China is exposed like a sore thumb as countries devalue on all sides, from Russia, to Japan, Indonesia and Malaysia
China needing more energy, data show
China Bubble Fracturing: Y/Y Housing Starts Down 34%, Unsold Inventory At 12-18 Months
Global Cooling Alert: China's Booming Shadow Banking Sector Slows Abruptly
UBS Raises Flag on China's $1 Trillion Overseas Debt Pile

## UK ##
Hundreds of thousands of pensioners having to choose between eating and being taken to the toilet
Hundreds of thousands of pensioners are receiving care at home which is so brief that they have to choose between eating or being taken to the lavatory.
Councils which cause potholes will be named and shamed
Private tenants forced to cut back on food to pay rent – survey
National Housing Federation says 31% of households – and 41% with children – have struggled to pay rent at least once 
UK growth revised down and current account deficit soars – live
Rail passengers face unprecedented closures over next five days for Christmas maintenance blitz
Britain's railways will come to an almost complete stop on Christmas Day while many lines will remain closed for longer as vital engineering work is carried out
More than one million British families now live in fuel poverty

## US ##
The Destruction of the Middle Class is Nearing the Final Stages
Jesse Jackson: Get rid of foreign tech workers
FBI: Anonymous threat says Islamic State plans to blow up Memphis bridge
Delray Beach Shooting: Florida Police Investigating Incident Involving Off-Duty Officer
Inside Q3 GDP: A Keynesian Puzzle Palace Where 'Spending' Soars, Income Stagnates
The Greater Abomination: Washington's Lies About TARP's "Success" Are Worse Than The Original Bailouts, Part I
IRS officials warn: We're nearly crippled
After absorbing a $346 million budget cut, IRS officials are warning taxpayers not to expect their phone calls to get answered or their refunds to be delivered quickly. Employees shouldn't count on overtime pay, or for empty staff slots to be filled. And lawmakers seeking to reduce the deficit should assume the agency will collect far less revenue than it could have.

And finally...

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