Saturday, January 10, 2015


News Links, January 11, 2015

## Global Ponzi meltdown/House of Cards ##
Another Run on Greek Banks Begins; Get Out While You Still Can; Buy Gold
Russia Cut to One Step Above Junk by Fitch on Oil, Sanctions
Russian Debt Safer Than U.S.? So Says China Rating House Dagong
Europe's Largest Bank Stock Suspended, Admits Need For $8.9 Billion Capital Raise
ECB Weighs Bond Purchases Up to 500 Billion Euros to Juice Economy
Canada's economy loses 4,300 jobs, missing expectations
Canadian housing market overvalued 63 per cent: Deutsche Bank
Oil slump slams Mexico with cuts causing 10,000 job losses
Venezuela Joins Argentina & Russia, Bends Over For China
Meet Janika Merilo: Ukraine's New Minister For Attracting Investment
Amid Time of Soaring Inequality, Rich Say: The Poor Have It Easy
Nordic countries lead shift into cashless society
Huge Capital Raising Effort at Spanish Bank Passing Latest Stress Test; New Game in Town; Smell Test Failure
Oil exporters could go risk-off as prices fall, populations age
Falling crude oil prices and aging populations could cause oil-producing nations to become risk-averse and sell off their stockholdings to make up revenue shortfalls.

## Airline Death Spiral ##
Security threat at Melbourne Airport leaves passengers stuck onboard plane
Cyprus Airways shuts down after order to repay state aid leaves it bankrupt
A year of bitter and sweet truths for many East Africa airlines
After string of jet crashes, a struggle to retrain pilots
As investigators hunt for what caused an AirAsia jet to crash in an equatorial storm on Dec 28, the aviation industry is still struggling to apply the lessons of accidents in similar weather over the past decade.
New airport openings and upgrades for 2015
Can more glitz paper over the industry's collapse? -- RF

## Fault lines/flashpoints/powder kegs/military/war drums ##
Saudi blogger to be publicly flogged on charges he insulted Islam
Tripoli Cafe Bombing: Nine Dead, 35 Wounded In Suicide Bombing Linked To Historic Alawite-Sunni Conflict
Big Oil Going On The Offensive (Michael Klare)
Defense Industry Running out of Time; Mergers Loom
Prepare for rising migration driven by climate change, governments told
Nigeria: 2,000 feared killed in Boko Haram's 'deadliest massacre'
Venezuelans throng grocery stores under military protection
Boko Haram is now a mini-Islamic State, with its own territory
Thank You Western Taxpayer: Russia To Accelerate $3bn Of Ukraine Debt
Oil Price Blowback: Is Putin Creating A New World Order?
Japan eyes legal revision to respond to attacks on allies that threaten nation's survival
Egypt to Wipe Out Entire City of Rafah for Border 'Buffer' Zone

## Global unrest/mob rule/angry people/torches and pitchforks ##
Police increasing presence at multiple Indianapolis malls
Germany's Anti-Muslim Response: 35,000 Protest Against Racism, Amid Anti-Immigration Rallies
Paris shootings: The backlash begins against French Muslims
Bill Bratton Confirms NYPD Slowdown; Zero Tickets Given On New Year's Eve
West Coast Port Strike Continues Into 2015

## Energy/resources ##
North Dakota Admits Half Its Shale Regions Below Breakeven
Entire oil complex slips into contango for first time since 2009
This Giant Oil Company Is Headed for Disaster
Of all the companies hurting from lower oil prices, few are in more danger than Brazilian oil giant Petrobras.
NSW faces 21 days in winter without guaranteed gas, AGL warns (Australia)
NSW faces three weeks' worth of gas shortages in winter next year and the state government might have to invoke emergency powers to ration gas supplies, a leading energy company has warned.
Union negotiations and computer glitches over the past month have held up shipments of yogurt, lunch meat, butter and fresh bone-in meat, according to the agency. In Europe, a breakdown in the DeCA distribution system prevented about 40 percent of frozen foods from being distributed.
Brazil water supply, crops still at risk a year after epic drought
How To Build an Earth-Sheltered Greenhouse

## Environment/health ##
'Nastier' flu strain spreads, death toll rises (US)

## Intelligence/propaganda/security/internet/cyberwar ##
Charlie Hebdo and the Profiteers of Tragedy
The ideologues of state terrorism are already sharpening their swords, which resemble pens, eager to slash their way into the kind of "moral clarity" their kind cannot find in peacetime.
CIA's Hidden Hand in 'Democracy' Groups
Documents from the Reagan presidential library reveal that two major institutions promoting "democracy" and "freedom" — Freedom House and National Endowment for Democracy — worked hand-in-glove, behind-the-scenes, with a CIA propaganda expert in the 1980s.

## Systemic breakdown/collapse/unsustainability ##
Inner City Turmoil And Other Crises: Ron Paul's Predictions For 2015
Crossroads on Global Infrastructure
Massive Global Infrastructure Projects Could Prevent Achievement of a Sustainable Economy While Undermining Life Support Systems of the Earth
That's not all. Many of these megaprojects (such as Japan's maglev, California's high-speed train, and Nicaragua's transoceanic canal) are too ambitious and will not be finished, leaving a legacy of wasted money and resources, environmental destruction, and disappointment. The age of megaprojects is finished. -- RF
Harrington now runs a campaign called Kick it Over, which aims to combat what it describes as "the fantasy world of neoclassical economics — a faith-based religion of perfect markets, enlightened consumers and infinite growth that shapes the fates of billions."

## Japan ##
The extra expenditure comes on top of the initial outlay of 95.9 trillion yen, bringing the total amount of this fiscal year's general-account budget spending to 99 trillion yen, highlighting Japan's struggle to fix dire public finances.
Japan reorients space effort to bolster security, drive exports
Japan is shifting its space program toward potential military uses in a new policy hailed on Friday as a "historic turning point" by Prime Minister Shinzo Abe, who wants to strengthen defense and boost exports.
As I've noted on a number of occasions, space programs are gradually becoming more military-oriented. -- RF
Japan eyes new law to aid non-U.S. forces in international conflicts
The government plans to enact a law authorizing the Self-Defense Forces to support allied foreign militaries other than U.S. forces in the event of international conflicts, an outline of security-related legislation showed Saturday.

## China ##
Shanghai Blocks Access to Bund Stampede Site
Authorities in Shanghai have sealed off the site of a deadly New Year's Eve stampede, cutting off access to an area that had in recent days become a gathering place for locals to air broader grievances.
Is China the next deflation threat?
The non-working American recovery added 451,000 to the not in the labor force category in December alone.

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