Tuesday, April 07, 2015


News Links, April 8, 2015

## Global Ponzi meltdown/House of Cards ##
Greek Government To Repay $494M IMF Debt, Says Will Meet 'All Obligations' To Its Creditors
Germany dismisses Greek demand for billions in WW2 reparations
Obama's Coup In Kiev—–An Economic Disaster For The Ukrainian People
"Bad Bank" Mania Spreads in Europe
One thing that the world is not in short supply of these days is bad banks. They are everywhere, it seems. But there are bad banks, and there are Bad Banks. This article is about the latter, the officially dubbed "Bad Banks" launched by governments and central banks to conceal the rising tide of triple-F toxic junk (derivatives, securitized debt, non-performing loans…) that threatens to engulf the world's financial system.
15 Years Of Stimulus—–Nothing To Show
IMF fears "secular stagnation" for global economy
The International Monetary Fund is coming round to the idea that the world is in the grip of an economic "secular stagnation", meaning the living standards of future generations will be lower than previously expected and national debt burdens will be harder to reduce.
Bank of Canada business outlook shows sting of low oil prices felt beyond energy sector
Calgary Housing & Office Markets Crushed, Alberta Sinks, Vacancies Spread Across Canada, but Vancouver…
Ontario's decades of debt will resonate with taxpayers for years to come
Russia may offer gas price discount, loans to Greece - Kommersant
Iran, UAE join Asian Infrastructure Investment bank as founding members
Wall Street Sells Junk Bonds, CLOs at Record Pace, But Investors Hit by "Dismal" Returns
At Behest of IMF, Jamaicans Face Harshest Austerity Policies in World: Report
Ruble Whipsaws Top Forecasters as Worst Currency Becomes Best
Why U.S. Economic 'Statistics' Get More and More Absurd
Stupidity of Negative Interest Rates Expands to Spain; Deflation Shock Thesis
Aging Asia scrambling for nursing workforce

## Airline Death Spiral ##
Fast-growing Asian aviation confronts safety challenges
Two Air India pilots reportedly suspended over cockpit argument
Airline Stocks And The Diminishing Benefits Of Cheap Oil
New airlines this year? Not likely
American Airlines scrubs West Palm Beach-to-Los Angeles flight

## Fault lines/flashpoints/powder kegs/military/war drums ##
Czech president bans U.S. ambassador from Prague Castle
President Milos Zeman has "closed the door" of Prague Castle to the U.S. ambassador following comments perceived as critical of the Czech's decision to attend a World War Two commemoration in Moscow, according to local media reports on Sunday.
Pakistan To Buy 8 Submarines From China
New US Navy Fleet Goal: 308 Ships
Saudi Special Forces 'Involved in Yemen Ops'
Dozens killed in fighting near Yemen's Aden port
Joint exercises put U.S. Navy at Russia's doorstep
Obama Says Nuclear Deal Not Predicated On Iran Recognizing Israel: Report
White House defends Iran deal as Israel, Saudi Arabia soften their positions
Why America Needs Iran
President Obama is tiptoeing around the sensitivities of Israel and Saudi Arabia as he depicts the Iran-nuclear deal as a one-off affair. But broader cooperation with Iran may be vital to salvage U.S. interests in the Mideast
All Praise To The Iranian Nuclear Framework—–It Finally Exposes The War Party's Big Lie
In Egypt, ex-military men fire up Islamist insurgency
Italy Rescues 1,500 Migrants at Sea in Less Than 24 Hours
Arab nations' donations to Clinton Foundation: Curing world's ills or currying favor?
Russian Industrial Giant Rostec Makes Forays Into Africa Amid Increasing U.S. And European Sanctions
Netanyahu Slips and Reveals the Real Reason He Opposes the Iran Deal
China, Vietnam to cooperate on new trade corridor

## Global unrest/mob rule/angry people/torches and pitchforks ##
Strikes proliferate in China as working class awakens
Radio France Strike: Work Stoppage Now Longest Ever At State-Owned French Broadcaster
Chinese riot police crush grasslands protest over chemical pollution
Garcia supporters join election-eve protest against police brutality

## Energy/resources ##
Why The Oil Price Collapse Is U.S. Shale's Fault
The present oil price collapse is because of over-production of expensive tight oil. The collapse occurred because of the inability of the world market to support the cost of the new expensive oil supply from shale, oil sands and deep water. Demand was progressively destroyed during the longest period of sustained high oil prices in history from 2010 through 2014.
Widespread Power Outage Hits Washington, DC, Area
Washington Power Outage Hits White House
The White House briefly had to rely on a backup generator
No indication malicious activity behind Washington outage -official
South Africa hit by blackouts due to power shortage
Russia, Vietnam sign energy agreements
Oil prices fall; Iran, China to discuss supplies
Rigzone Survey Indicates Continued Scale Back in Hiring
Current market conditions have caused global oil and gas professionals to remain cautious in the negotiating process, according to Rigzone's latest Global Hiring Survey.
Refracs raise questions about further US oil production: At the Wellhead
California: A Microcosm For Impending Global Water Crisis
US safety board: Oil train tank cars need urgent upgrades

## Got food? ##
Why the California drought matters to you
Feds likely to shut down sardine fishing on West Coast
West Coast fisheries managers will likely shut down sardine fishing this year as numbers decline, echoing a previous collapse that decimated a thriving industry and increasing worries that other species might be withheld from the commercial market.
For many phones their life ends in landfill sites, and it is currently estimated that an astonishing 150,000,000 are trashed each year globally.
U.S. secretly tracked billions of calls for decades
The U.S. government started keeping secret records of Americans' international telephone calls nearly a decade before the Sept. 11 terrorist attacks, harvesting billions of calls in a program that provided a blueprint for the far broader National Security Agency surveillance that followed.
Judith Miller's Blame-Shifting Memoir
U.S. intelligence veterans recall the real story of how New York Times reporter Judith Miller disgraced herself and her profession by helping to mislead Americans into the disastrous war in Iraq. They challenge the slick, self-aggrandizing rewrite of history in her new memoir.
'Abenomics' fails to get households spending
Japan's wary manufacturers resist Abe's urge to splurge
South Korea, China castigate Japan's textbook screening
Nuclear damage treaty to cost nuclear industry over ¥100 million a year
An international treaty on collective compensation for damage from nuclear accidents will compel Japan's power industry to pay up between ¥120 million and ¥130 million a year, informed sources said.

## China ##
China to step up urbanisation along Yangtze River
Energy drinks like 'legal highs'
Drinks such as Red Bull make children hyperactive in class, teachers warn as they call for more restrictions on the drinks
One in 3 trainee GP posts are empty, amid warnings of crisis shortage
Warnings of looming crisis as new figures show widespread vacancies for trainee GPs, with two in three posts empty in large swathes of the country

## US ##
Guaranteed Financial Security Is a Fantasy
Guarantees based on extracting higher taxes, borrowing trillions of dollars and creating trillions more out of thin air only guarantee eventual systemic implosion.
Schools becoming the 'last frontier' for hungry kids
The classroom has become a dining room as more children attending public schools live in poverty. More than half of students in public schools — 51% — were in low-income families in 2013, according to a study by the Southern Education Foundation.
Except for rich, Americans' incomes fell last year
The McJobs bust and a trifecta of trouble
San Francisco median price nears $1 million while homeownership rate falters.
The not in the labor force rebound added 277,000 Americans in March alone.

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