Sunday, February 01, 2015

 

News Links, February 2, 2015

## Global Ponzi meltdown/House of Cards ##
Chart Of The Day: World Trade Growth Slowest In 35 Years
Canada in Recession, US Will Follow in 2015
The tally of closed retail stores in Canada keeps growing
Canadian Bank Stocks Post Worst Start in 25 Years
Canada Mauled by Oil Bust, Job Losses Pile Up – Housing Bubble, Banks at Risk
Australian dollar tumbles as global currency war expands
Hidden crisis of long term joblessness worsens
Australia's welfare rolls continue to swell with the number of people on the main payment for more than a year reaching its highest level on record.
Commodities crash: Bad news for the world economy, but is anyone listening?
Greece Hires US Investment Bank Lazard To Advise On Country's $270B Debt Burden To Europe
Greece Will Not Accept Bailout Extension or Deal With "Rottenly Constructed" Troika; Mish's Game Theory Math
German Finance Minister Says Greece Can Forget About a Debt Reduction
Rise of the robots at AOL lead to job cuts

## Fault lines/flashpoints/powder kegs/military/war drums ##
Islamic State Group Purportedly Beheads Japanese Journalist Kenji Goto: Video

## Global unrest/mob rule/angry people/torches and pitchforks ##
Greek Social Contagion: Tens Of Thousands Rally In Support Of Spain's Anti-Austerity Podemos Party
Israel Announces Plans for Another 450 Settlement Units

## Energy/resources ##
Oil Price Soars, Rig Count Plunges Worst Ever, But Bloodletting Just Beginning
In the US, the cost cutting has reached frenetic levels. One place where it shows up on a weekly basis is the number of rigs actively drilling for oil. And that rig count dropped by 94 to 1,223 in the latest week, as Baker Hughes reported today. A phenomenal plunge, by far the worst ever. In January, the rig count crashed by 276, the most ever for a calendar month. That's 18.4%! the rig count is now down 386 from its peak on October 10, by nearly a quarter!
Plunging oil prices choke off boom in Bakersfield
Shell, ConocoPhillips Announce Heavy Spending Cuts
Bad news from the oil industry is not in short supply lately, and now two major companies, Royal Dutch Shell and ConocoPhillips, have simultaneously announced sharp cuts in spending because of what seems to be a non-stop erosion in crude prices.
BP to follow Shell in cutting spending
Oil company, which has already cut hundreds of jobs in Aberdeen and thousands around the world, is expected to announce spending reductions of over 10%
Keep watching for that inevitable food panic. -- RF
No, thanks. This is too high-tech. -- RF

## Environment/health ##
Study: BP oil spill left millions of gallons buried in Gulf floor
Up to 10 million gallons of crude oil from the BP Deepwater Horizon spill in 2010 remains buried under sediment in the Gulf of Mexico, spelling out long-term dangers for local marine life and raising questions about permanent damage to the waterway, a Florida State University professor said.
The Future of Medicine? Forget Private Doctor Appointments, Group Medical Visits are Coming
Another chapter in the saga of healthcare system collapse. -- RF

## Intelligence/propaganda/security/internet/cyberwar ##
Verizon to let people opt out of 'supercookie' data collection
'Group-Thinking' the World into a New War
The armchair warriors of Official Washington are eager for a new war, this time with Russia over Ukraine, and they are operating from the same sort of mindless "group think" and hostility to dissent that proved so disastrous in Iraq.
'Anonymized' credit card data not so anonymous
Scientists showed they can identify you with more than 90 percent accuracy by looking at just four purchases, three if the price is included—and this is after companies "anonymized" the transaction records, saying they wiped away names and other personal details.

## Systemic breakdown/collapse/unsustainability ##
Growth! -- RF
Car registration costs to rise as refinery capacity disappears: inquiry hears
Car owners could be forced to pay more for vehicle registration as a direct result of Australia's rapidly vanishing capacity to refine crude oil.

## Japan ##
Japanese workers average 16 hours of unpaid overtime a month
About 40 percent of Japanese workers put in unpaid overtime and their uncompensated overtime adds up to 16 hours a month on average, a labor union survey shows.
Japan to debate rescue missions by SDF after Islamic State executions
The beheading of two Japanese citizens by Islamic State militants is fanning calls to allow Japan's long-constrained military to conduct overseas rescue missions as part of Prime Minister Shinzo Abe's push for a more muscular security posture.

## UK ##
The cold weather death toll this winter is expected to top 40,000, the highest number for 15 years.
Thousands gather in London to protest against lack of affordable housing
On Black Tuesday Shiller PE Ratio was at 30. Today it is at 26.2 and volatility is back in a big way.
The walkouts, the first held in support of a nationwide pact since 1980, target plants that together account for more than 10 percent of U.S. refining capacity. The discord comes as plunging crude prices force oil companies to slash spending.




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