Tuesday, January 06, 2015


News Links, January 6, 2015

## Global Ponzi meltdown/House of Cards ##
ECB President Mario Draghi's latest statement is full of Keynesian fallacies
BITCOIN CRASHING: Breaks Under $300
A leveraged system – US debt jumps $100 billion on last day of year. Total US debt markets at $58 trillion.
Germany: Euro zone can handle it if Greece leaves: Report
WSJ: Dollar's Jump Creates Debt Woes for Emerging Markets
Venezuela's Maduro Jets To China, OPEC Countries For Help With Cash-Strapped Economy
Europe's bond yields fall to lowest since the Black Death
Why Singapore Has Become a Top Destination for Offshore Gold Storage
But keep in mind that Singapore has extremely low self-sufficiency. Everything might look fine now, but that low self-sufficiency will become a decisive factor in Singapore's ultimate fate. Will you be able to get at your gold when everything starts to fall apart? -- RF
Gold Was Up 73% in 2014 for Russians!
German Gold Repatriation Most Probably Continuing
Major News Stories from German Economic News
• German Minister: We do not want to see Russia crushed.
• Russia proposes to EU: Say no to TTIP, yes to EEU.
• Soros: EU must take on new debt for a war against Russia.
AIG manufacturing PMI tanks in December (Australia)
11 Predictions Of Economic Disaster In 2015 From Top Experts All Over The Globe
In 2015, it Boils Down to this: Argentina Will Not Pay Because President Christina Doesn't Want to
Dow Closes Down More Than 300 Points as Oil Plunges
Mind The Commodity Plunge: Crude Oil At $50—-Coal, Iron Ore, Steel Right Behind
Ten warning signs of a market crash in 2015
German bank exposure to Greece around 24 billion euros: banks
Prepare for Property Prices to Fall in U.S. and Globally

## Airline Death Spiral ##
Angry, hungry passengers stuck on Etihad jet for 28 hours
Indonesia cracks down on aviation sector after AirAsia crash

## Fault lines/flashpoints/powder kegs/military/war drums ##
Russia's "Startling" Proposal To Europe: Dump The US, Join The Eurasian Economic Union
Israel freezes funds to Palestinians over ICC approach
Unidentified Libyan Plane Bombs Derna Oil Port, Killing Two Amid Government Crackdown On Rival Militias
Would-Be ISIS Fighters Arrested at Iraq Border: Iran Police
ISIS Photos From 'Day Of Retribution' Show Mass Execution Of Shiite Law Enforcement In Iraq
Mexico scandals expose government without answers
India-Pakistan Relations: Tensions Rise After Almost A Week Of Cross-Border Attacks

## Global unrest/mob rule/angry people/torches and pitchforks ##
Protests continue in Bahrain over extended detention of opposition leader
Fired Wet Seal employees publicly slam retailer from remaining storefronts
German anti-Muslim protesters rally despite Merkel plea
Lamps go out all over Germany in backlash against anti-immigrant protests
#BlackBrunchNYC protests disrupt 'white' N.Y. breakfast spots

## Energy/resources ##
Must read: The Real Cause Of Low Oil Prices: Interview With Arthur Berman
Layoffs loom in Alberta's oil patch
Philippines facing severe power shortage
An electricity shortfall looms as a serious problem for the Philippines, where growth in generating capacity is not keeping pace with demand. Rolling blackouts may be implemented on the largest island of Luzon this year.
Keep Your Eyes On The Prize: It's always and ever about energy
Silver Is One Of the Most Important Industrial Metals – Here's Why (infographic)
Nuclear power is the greenest option, say top scientists
Top scientists ought to have their heads examined. -- RF
Nuclear renaissance: New York Reactor's Survival Tests Pricey Nuclear
Exelon Corp. (EXC), the biggest U.S. owner of nuclear reactors, needs to almost double power prices to keep a New York plant running in a move that promises to show just how far regulators will go to keep uneconomic plants operating.
In blackout-hit South Africa, could hydrogen be the answer?
Hydrogen is not an energy source. It is just a means of storing energy in a different form, as a battery does, so it won't save industrial society any more than dry cells would. -- RF
Oil drops below $50, beats other commodities for loss
US Rig Count Continues To Plunge To 10-Month Lows
Ukraine Will Have Russian Gas, For Now
Saudi slashes monthly oil prices to Europe; trims U.S., ups Asia
Lights off to save money in UK, lights off to save electricity in South Africa

## Infrastructure scavenging ##
Metal thieves leave over 1,300 Stockton homes without power

## Got food? ##
Experts warn global action is needed on water usage in food production
Each person consumes between 2,000-5,000 litres of water embedded in their food, every day – or between 730,000-1,825,000 million litres annually.
Indian food demand to boom
Plastic found inside McDonald's chicken nuggets

## Environment/health ##
First Ebola Patient Diagnosed in U.K. in Critical Condition
Officials: U.S. medical worker exposed to Ebola overseas
South Korean flown to Germany for Ebola treatment
Scientific team sounds the alarm on sugar as a source of disease
Ship collision causes 33,000 barrel oil spill off Singapore
Whole Grains Help You Live Longer, Study Finds
Common cold really is triggered by chilly weather, Yale scientists find
Under-the-Radar Environmental Stories for 2015: The Furtive Five
Kids Who Sleep Near Their Smartphones Get Less Shuteye, Study Says

## Intelligence/propaganda/security/internet/cyberwar ##
Torrent website The Pirate Bay features mysterious countdown to revival
Overseas hacking tools find market in Japan
US can be next Saudi Arabia for oil, says ex-US Treasury Secretary Summers
Read this in conjunction with the interview with Arthur Berman in the energy section, above. -- RF
Fear of Government Spying 'Chilling' Writers' Speech Worldwide
10% Of Morgan Stanley High Net Worth Clients Just Had Their Data Stolen

## Systemic breakdown/collapse/unsustainability ##
Mexican Prisons Are Worsening And Inmate Control Is Growing: Study
Conditions have worsened in Mexico's dangerous and overcrowded prisons, with many of them falling increasingly under control of inmates, Mexico's National Human Rights Commission (CNDH) said on Friday.
The Cold Wet Mackerel of Reality (The Archdruid Report)
2015: A World Ruled by Hubris, Willful Blindness and Desperation
Forecast 2015 — Life in the Breakdown Lane
Sicily bridge collapses 10 days after opening

## Japan ##
Japan's cash helicopter may be first to take off
'Abenomics' property boost shrinks back to Tokyo
An economic rebound and loose money policy under Prime Minister Shinzo Abe briefly halted a long slide in Japan's commercial property market, but the benefits of "Abenomics" appear increasingly limited to Tokyo, leaving a moribund hinterland.
More Japanese urbanites moving to countryside: study
Utilities move to decommission five aging nuclear reactors
Watch for cost estimates to skyrocket. -- RF
Utilities balk at safer storage of spent nuclear fuel to avoid 'wasted investment'
Japan's hydrogen fuel cell stations begin to open, but are they worth the switch?
Fukushima rice passes radiation tests for first time since disaster
Japan plans new communities to lure seniors out of shorthanded cities
The major reason is this: Many rural economies have so few working people that they are dependent on pensioners to prop them up. Since the elderly keep dying off, new pensioners have to be brought in. -- RF
Permanent radioactive waste disposal facing significant hurdles
Olympic village to be 1st 'hydrogen town'
Hydrogen, which does not emit greenhouse gases when used to generate power, is considered a major next-generation energy source in the government's Basic Energy Plan.
Hydrogen is not an energy source! But of course if one repeats a lie often enough, it becomes the truth. Repeat after me: "Hydrogen is an energy source. Hydrogen is an energy source. Hydrogen is an energy source." Got it? -- RF
Panasonic bringing most production back to Japan

## China ##
China's Cities Face Judgment Day on Debts as Costs Soar
What Macau Just Said About China's Economy
China frees prices of commodities, services in fresh reforms

## UK ##
New consumer debt reaches seven-year high in UK
Consumer helplines have sounded a warning after Britons ran up their highest level of new debt in November for nearly seven years, with the month's borrowing on credit cards, loans and overdrafts hitting more than £1.25bn.
Number of pensioners using meals for wheels halves under Coalition
Labour Party uncovers dramatic cutbacks in number of pensioners receiving council-funded meals as average cost spikes
Anti-terror plan to spy on toddlers 'is heavy-handed'
Nursery staff and childminders are given 'duty' to report toddlers they suspect of being at risk of becoming terrorists under new Home Office measures
British banks to outline plans to protect ordinary customers
Britain's biggest lenders have only a day before the deadline passes for submission of their plans to protect ordinary customers from the banks' risky activities, starting a four-year industry overhaul that will cost billions of pounds.

## US ##
The 2014 Corporate Rap Sheet
The bull market in corporate crime surged in 2014 as large corporations continued to pay hefty fines and settlements that seem to do little to deter misbehavior in the suites. Payouts in excess of $1 billion have become commonplace and some even reach into eleven figures.
The Political Imperative to Be Reckless
The overarching "strategic" ideology in Official Washington is "tough-guy-ism," with politicians fearful of being called "weak," a public-relations threat that drives even cautious leaders into reckless military actions, as occurred with President Obama in the war on the Islamic State.

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