Friday, December 26, 2014


News Links, December 27, 2014

## Global Ponzi meltdown/House of Cards ##
Saudi projects huge deficit as oil price drop bites
Saudi Arabia announced a 2015 budget with a huge deficit Thursday as the world's largest crude exporter begins to feel the impact of its own decision not to shore up oil prices.
Japan Inflation Slows And Output Slips, Keep BOJ Under Pressure
Japan 2-year JGBs sold at negative yield for first time
Japan falls to 19th in 2013 per-capita GDP rankings
Japan no longer nation of savers, for first time ever
Not in banks, anyway. Recall that Japanese homes and businesses have an estimated ¥82 trillion in banknotes stashed away in "bureau-drawer deposits." There is also a lot of gold out there. -- RF
Russia forecasts economic slump as bailed-out bank gets more funds
Panama Canal consortium claims further $740 mln in cost overruns
China to Start Payments With Russia in National Currencies on December 29
China Extends Forwards, Swaps Trading to Three More Currencies
Russian banks admitted to regulator's alternative to SWIFT for internal banking operations
France has never had this many unemployed people before

## Airline Death Spiral ##
China Mulls Blacklist for Unruly Air Passengers
Man kicked off American Airlines plane after rage over 'Merry Christmas' greeting
Frequent Criers
Airline Industry Bemoans Current State of Air Traffic Control in U.S.
Funding for the FAA expires in September, and Congress' recent FAA reauthorization bills haven't done much to ensure programs like NextGen, a satellite-based system geared to reduce fuel consumption, improve safety, and curb air-traffic congestion, will take off any time soon. The foundation of the FAA's current radar, or ground-based, system dates back to the 1950s.
Airline Employee Caught Smuggling Guns On Flights As Carryons

## Fault lines/flashpoints/powder kegs/military/war drums ##
60 Prominent Germans Appeal Against Another War In Europe: "It Is Not About Putin. What Is At Stake Is Europe"
Roller Coaster Year in Territorial Disputes in East, South China Seas
Pakistan military wins free rein against terrorists
Israel Approves 243 New Settler Homes In East Jerusalem
Israel, Hamas clash on Gaza border
Rocket hits tank at Libya's biggest oil port
A rocket hit a storage tank at the eastern Libyan oil of port Es Sider as armed factions allied to competing governments fought for control of the country's biggest export terminal, officials said on Thursday.
Not a thing! As I've said before, unless we eliminate the causes of war, which are essentially "hard-wired" into the current system, the killing will continue. -- RF

## Global unrest/mob rule/angry people/torches and pitchforks ##
Labor Disputes a Growing Threat to Social Stability in China, State-Backed Think Tank Says
As China's leaders grapple with a slowing economy, they must also contend with a looming threat to social stability—the country's increasingly disgruntled workforce.

## Energy/resources ##
Libya's daily oil output halved since terminal closures
Nuclear renaissance: With US Nuclear in Decline, Scientists and Analysts Urge Support for Next-Generation Technologies
The global nuclear industry is in steady decline. Since hitting a peak in 1996 at nearly 18 percent of global energy production, the industry's share has dropped down to less than 11 percent.
Oil companies seen cutting spending 25 pct in 2015 due to falling crude
Pakistan, Iran reach agreement on gas deal

## Environment/health ##
Critical Glaciers Melting Under 'Continuous Warming': Study
Following comprehensive survey, Chinese researchers warn drinking sources may dry up in much of Asia

## Intelligence/propaganda/security/internet/cyberwar ##
LEAKED: Secret Negotiations to Let Big Brother Go Global
U.S. Spy Agency Reports Improper Surveillance of Americans
The National Security Agency today released reports on intelligence collection that may have violated the law or U.S. policy over more than a decade, including unauthorized surveillance of Americans' overseas communications.

## Japan ##
It is estimated that there is enough methane hydrate beneath coastal waters to meet the nation's natural gas needs for 100 years.
A hundred years! Now where have I heard that before? Oh yeah, that's what they were saying about shale gas in the US. Who believes that now? Truth is, this isn't even a resource, and it will never be exploited profitably. -- RF
Firms bank on hydrogen energy boom
Manufacturers are taking advantage of the growing domestic movement to use hydrogen as a clean energy source for automobiles and power generation systems.
Hydrogen is not an energy source! -- RF
127 more 'secret' interviews on Fukushima crisis disclosed
The central government on Dec. 25 released dozens more closed-door accounts by people closely connected to the Fukushima nuclear disaster in response to a public outcry about secrecy.
China Said to Plan Waiving Reserve Requirement for Some Deposits
China plans to temporarily waive a requirement for banks to set aside reserves for some deposits, people with knowledge of the matter said, highlighting efforts to boost lending amid a slowdown of the world's second-largest economy.
China Names New Navy Head as Territorial Disputes Fuel Tensions

## US ##
In Alabama, A Public Hospital Serves the Poor — with Lawsuits
Public hospitals can be among the most aggressive in collecting debts from poor patients, not only garnishing their wages, but cleaning out their bank accounts.
The continuing trend of one-third of Americans supporting the other two-thirds.
Cellphones cut off, Ohio suburb weighs bankruptcy

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