Tuesday, January 06, 2015


News Links, January 7, 2015

## Global Ponzi meltdown/House of Cards ##
David Stockman: The BRIC Success Story Is a Fable By Goldman Sachs and the Fed
China Fast-Tracks $1 Trillion in Projects to Spur Growth
Oil Falls Below 50 As Global Financial Markets Begin To Unravel
Sayonara Global Economy
Euro-Area Economy Menaced by Threat of Relapse
Germany Wins Race to Negative Yields on 5-Year Bonds; Japan Leads Germany in 10-Year Yield Race
Survey said fewer Canadians expect to achieve current financial goals
Falling Oil Forces US Steel Facility Closures

## Airline Death Spiral ##
Airlines are running more full than at any time since they ferried troops during World War II
These days, flying can literally be painful. Airline seats are smaller and closer together than ever before, and more passengers are crammed onto every plane.
The Pain of Flying Is Good Business for Airlines
Airlines make a lot of money by creating miserable flying accommodations and then charging customers "convenience fees" to avoid them. In fact, it's the industry's fastest growing source of income.

## Fault lines/flashpoints/powder kegs/military/war drums ##
Third Saudi guard dies after shootout on Iraqi border
Militants killed two Saudi border guards and their commanding officer on the frontier with Iraq early on Monday, the interior ministry said, in a suicide and gun attack one analyst called ISIL's first assault on the kingdom.
Libyan Official Government, International Community Attempt To Isolate Libya Amid Growing Terrorism Threat
Almost four years after the revolution that ousted dictator Muammar Gadhafi, Libya has descended into such chaos that the last international airline flying into the country has pulled out, and the nation that started the bombing campaign against Gadhafi in 2011 is thinking of going back in.
Istanbul Terror Attack: Female Suicide Bomber Detonates Bomb In Police Station
Australians reject siding with Japan against China in island dispute: survey
Falling Oil Prices Are Hurting Iraq's Fight Against ISIS, Threatening Stability

## Global unrest/mob rule/angry people/torches and pitchforks ##
With Call to 'End the Drone Wars,' Activists Cut Their Way into UK Air Force Base
Enforcing the 'Will of the People,' Dozens of Pipeline Protesters Halt Operations in Pennsylvania

## Energy/resources ##
Oilfield Writedowns Loom as Plummeting Prices Gut Drilling Values
With crude prices down more than 50 percent from their 2014 peak, fields as far-flung as Kazakhstan and Australia are no longer worth pumping, said a team of Citigroup Inc. (C) analysts led by Alastair Syme. Companies on the hook for risky, high-cost projects that don't make sense in a $48-a-barrel market include international titans such as Royal Dutch Shell Plc (RDSA) and small wildcatters like Sanchez Energy Corp. (SN)
The coming showdown between Canadian and Saudi oil producers on the U.S. Gulf Coast
A fight between Canadian and Saudi Arabian oil producers is expected to play out on the U.S. Gulf Coast during the course of this year, as the two countries battle for market share in the world's largest refining district. The fight could help keep oil prices depressed for another six months.
Share Prices For Oil Companies Tumble Along With Oil Prices
Turkish vessel to continue work off Cyprus, deepening standoff
North American rig activity slowing
Canada Heavy Oil Drops Below $35 As Rig Count Hits Record Low For January

## Lifestyle Solutions ##
New Uses For Used Tea Bags

## Environment/health ##
Hundreds of birds mysteriously starve to death along the Pacific Coast (N. America)

## Systemic breakdown/collapse/unsustainability ##
The price of life in Singapore, city of rules: 'It's a Faustian deal'

It doesn't matter. The whole effort won't amount to a hill of beans. -- RF
Downsize, downsize, downsize. -- RF

## UK ##
Aldi confirms up to 100% horsemeat in beef products

## US ##
No Escape Velocity In "Dismal" Holiday Sales
2015: Now That the Fed Drove Everyone Into Ruinously Risky Bets....
The central bank/state plan for 2015 is a continuation of the same plan that's been in play since 2009: drive everyone with any cash or capital into ruinously risky bets. The problem for the central bankers/states driving everyone into risk assets is the yields on these bets are entering the exhaustion zone of marginal returns.
Record number of young living at home and rents increase while income falls.

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