Wednesday, January 14, 2015


News Links, January 15, 2015

## Global Ponzi meltdown/House of Cards ##
World Bank cuts 2015 forecast for global economy
The World Bank, citing stagnation in Europe and Japan and a slowdown in China, downgraded its forecast for the global economy this year. It also reported that world economic growth came in below expectations in 2014.
Corporate Ponzi Game In China?
Venezuela Announces Financing From Qatari Banks As Oil Prices Continue To Fall
EU signals flexibility on budgets, aiding France, Italy
Japan Joins Germany With Five-Year Government Yield Evaporating
First Of Many: Standard Chartered Hit By Billions In Losses From Commodity Crash
Boom Goes The Dynamite: The Crashing Price Of Oil Is Going To Rip The Global Economy To Shreds
Oil fall could lead to capex collapse: DoubleLine's Gundlach
DoubleLine Capital's Jeffrey Gundlach said on Tuesday there is a possibility of a "true collapse" in U.S. capital expenditures and hiring if the price of oil stays at its current level.
"Dr. Copper" is sick: Copper collapses on global growth concerns
Miners crash, Glencore at low as copper tumbles
Russia to cut all budgets 10 percent, except defense
Bitcoin keeps falling, and worries keep rising
Russia Just Pulled Itself Out Of The Petrodollar
Plunging Oil Prices, Rising Debt Leaves Asia Staring at Deflation: Morgan Stanley
Canadians keep loading up on debt despite worries from oil price drop

## Airline Death Spiral ##
Desperate measures: SpiceJet may axe 1,000 jobs to cut losses; life support continues
Air France-KLM says too early to detail cost cut plans
Babies' Free Plane Rides on Laps May End Soon in Brazil
Despite 'Gas Tax Cut', Airlines See Tumbling Traffic, Outsource US Jobs
Even The Airlines Are Ignoring The "Oil Is Good" Narrative
Airlines prepare to hedge more jet fuel to lock in huge savings

## Fault lines/flashpoints/powder kegs/military/war drums ##
Navy shipbuilding plans likely to run aground, report says (US)
The Navy's shipbuilding plans — absent a huge transfusion of money — are about to run aground, with serious consequences for the industry and U.S. foreign policy.
Russia to step up combat capabilities in Crimea
Russia's top general said on Tuesday he would beef up combat capabilities this year in Crimea, the Arctic and the country's westernmost Kaliningrad region that borders two NATO states.
The violence reflects a growing desperation among soldiers, including border guards, since Kim Jong Un took over as supreme leader in Pyongyang three years ago. As well as seeking food, they are entering China to steal money.
Ship hijackings up year on year in 2014; total piracy attacks down: IMB

## Global unrest/mob rule/angry people/torches and pitchforks ##
Parliament protest in streetlight campaign (UK)
PROTESTERS fighting to overturn the streetlights switch-off across Essex are to march on the House of Commons in an effort to make their voices heard.
Canadian Natural Resources Ltd. cuts capital spending plan by nearly 30% because of oil plunge
Falling oil prices have led Canadian Natural Resources Ltd. to cut deeper into its 2015 spending plans than expected as the oil and gas major announced Monday a big revision to its capital budget.
Fracking is a capital intensive treadmill for companies that spend a lot more on drilling and completing wells than they get in cash from their production. Barclays estimated that larger drillers outspent their cash flows by 112% and smaller to midsize companies by a breathtaking 157%. The hole had to be filled with new money, or else the music would stop.
Statoil hands back three Greenland exploration licences
Norway's Statoil has handed back three out of its four Greenland offshore oil and gas exploration licences, it said on Wednesday, in another sign of cost cutting by energy firms following a plunge in oil prices.
Saudi Arabia requires $93/bbl Brent to balance their budget. At today's oil price, the Kingdom is going to watch their savings account drop by an estimated $50 Billion this year. We all know Saudi Arabia can afford it, however all but four OPEC members (Kuwait, Qatar, Saudi Arabia and UAE) will see their entire Sovereign Wealth Fund wiped out this year if oil prices stay this low. Algeria, Nigeria and Libya are already broke and Iran and Venezuela are getting close. I doubt there are a lot of bankers lining up to lend this group any money.
Qatar, Shell Scrap $6.5 Billion Project Amid Oil-Price Collapse
Qatar Petroleum and Royal Dutch Shell Plc (RDSA) called off plans to build a $6.5 billion petrochemical plant in the emirate, saying the project is no longer commercially feasible amid the upheaval in global energy markets.
Chile copper mine water use seen rising rapidly in next decade
Water consumption in Chile's vast copper mining industry is set to rise 66 percent by 2025, with companies increasingly turning to seawater to meet mine demand, a study by state copper commission Cochilco showed on Tuesday.
German Environment Ministry seeks unconditional GMO ban
Germany's Environment Ministry is hoping for a complete ban on green genetic engineering,  but a Green party assessment warns that upcoming free trade agreements like TTIP and CETA could still bring genetically modified plants to the European market.
Seoul's food prices among highest in the world

## Lifestyle Solutions ##
89 Tips That Will Help You Prepare For The Coming Economic Depression

## Environment/health ##
Mass die-offs among fish, birds and invertebrates on the rise
Global warming, diminished water supplies, and increased exposure to toxic contaminants are a few of the reasons.
The goats fighting America's plant invasion

## Intelligence/propaganda/security/internet/cyberwar ##
WikiLeaks: not perfect, but more important than ever for free speech
Paris Attack = Next Excuse to Ban Encryption Altogether
Will climate change burn up the internet?
Last Monday, thousands of Perth, Australia, residents discovered that the Internet had melted. Australia's second-largest DSL Internet service provider, iiNet, had crumbled under soaring temperatures of up to 112 degrees — Perth's third hottest January day on record.

## Systemic breakdown/collapse/unsustainability ##
Aid agencies fear Libya public services collapse, hospitals suffer
Falling oil revenues and intensifying fighting across Libya mean the humanitarian situation is worsening and basic public services may collapse, aid agencies said.
Read this in conjunction with the previous item on Mayan civilization. -- RF

## Japan ##
Japan Boosts Defense Spending to Counter China Island Claims
Japan will increase defense spending for a third straight year as Prime Minister Shinzo Abe seeks to counter China's claims to remote islands in the East China Sea.
Keep watching for the default. -- RF
Waste of money and resources. -- RF
Japan's collapse began years ago. -- RF
Rising prices stifle spending by ¥1 tril.
Rising prices from April to September last year following the April 1 consumption tax hike pushed down consumer spending by about ¥1 trillion by reducing real income, a report by the Cabinet Office showed.
No matter how high electricity rates are raised, there will never be enough money to cover costs. -- RF
The shakeout from the 2008 crash has largely ended. Watch for the next wave. -- RF
All this talk about mining the moon and asteroids is laughably absurd. Ain't gonna happen. -- RF

Sainsbury's: 500 head office staff to lose jobs amid drive to save £500m
Jobs in London, Coventry and Manchester set to go as new boss Mike Coupe tries to reduce supermarket's running costs
More than half unemployed young people anxious about life – report
Nearly six out of 10 unemployed young people polled said anxiety had stopped them from sleeping well, over half said feeling anxious stopped them from asking for help while 41% said it stopped them from leaving the house, according to a survey of 2,265 16 to 25-year-olds published in a new report.

Military Tightens Security at Base in Delaware After Drivers Raise Suspicion
The military has tightened security at New Castle Air National Guard Base in Delaware after unknown suspects apparently tried to probe the base for security weaknesses, counterterrorism and military officials told NBC News.

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