Thursday, May 21, 2015


News Links, May 22, 2015

## Global Ponzi meltdown/House of Cards ##
'If you ain't cheatin, you ain't trying': four global banks plead guilty to felony charges of fixing the price of dollar and euros
The Gloves Come Off: Moody's Warns Of Greek "Deposit Freeze" As Schauble "Won't Rule Out Default"
Greek economy is bleeding 600 jobs a day, €22m in GDP
China Bails Out Brazil In $50 Billion Regional Power Grab
Slum squeeze: overseas students taking turns to sleep in overcrowded Melbourne high rises
For Caterpillar, This Is What The "Second Great Depression" Looks Like
Mideast youth unemployment rises amid post-Arab Spring chaos
Growing Global Inequality Gap 'Has Reached a Tipping Point'

## Airline Death Spiral ##
The Absolute Worst Practice of Airlines Today
Baggage handlers stealing from checked bags
Cathay Pacific flight attendants hold Hong Kong airport sit-in to protest airline's treatment
12 Things You Need to Know About Frequent Flier Programs
Airline Ticket Fees Could Be Going Up, Again
Airline Rally Unwinding as American Spurs Price War Selloff
Man strips naked at airport, upset about overbooked flight

## Fault lines/flashpoints/powder kegs/military/war drums ##
Obama's Strategic Shift
President Obama has belatedly detected the looming catastrophe in Syria and Iraq as Sunni terrorists gain ground. He also grasps the need for Russian and Iranian help. But his administration remains infested with neocons and liberal war hawks who could sabotage the needed deals.
Iraq: 25,000 Shiite Militiamen Gather to Retake Ramadi
Senators call for new military surge in Iraq
Republican senators John McCain and Lindsey Graham on Wednesday called for a new military surge in Iraq to counter the fall of Ramadi and to reset what they said is a failing U.S. war strategy.
How a 19th Century Shipwreck Could Give Canada Control of the Arctic
France Boosts Arms Spending, Eyes C-130 Buy
Israel's Plan to Kill Lebanese Civilians
Asia migrants: Malaysia orders search and rescue for boats
U.S. sanctions Iraqi airline as Iranian front in scheme to buy planes
Finland tells 900,000 reservists their roles 'in the event of war'
Amid rising tension with Russia, Finland takes the rare step of sending letters to every military reservist

## Global unrest/mob rule/angry people/torches and pitchforks ##
Protests Force Mining Billionaire German Larrea To Halt $1.4 Billion Copper Project In Peru
McDonald's Workers Protest Outside Shareholders' Meeting

## Energy/resources ##
Slow Oil Price Recovery Heightens Upstream Default Risk
The default rate among the exploration and production (E&P) sector's weaker companies is expected to more than double during the next 12 months, according to a new report from Moody's.
Clock Running Out For Struggling Oil Companies
What does nuclear power cost? Old plants dispel easy answers
Shell's boss claims the world will face a massive energy crisis if fossil fuel production scaled back
Saudi, partners turn down Chinese requests for extra oil
North Sea oil and gas firms told to collaborate to ensure the area has a future
THERMAL COAL-South African cargoes hold premium as power shortage bites
South African physical coal cargoes maintained a premium over Australian and European prices as rolling power black-outs due to a severe shortage in electricity generation threatened coal mining and ship loading capacity.
Externalities: The IMF Tells a Half-Truth
India to eclipse China as top coal importer in 2015
Yingli's Possible Bankruptcy: Not An Isolated Case, Says Wolfe Research
Gusts of opposition hit Kenyan wind farm project
Petrobras Turns to China for $10 Billion to Avert Crunch

## Got food? ##
Congress Moves to Eliminate Labels Showing Consumers Where Meat Comes from Following WTO Ruling
El Niño 2015 Could Make Food More Expensive, Especially Coffee, Chocolate And Rice, Experts 

## Environment/health ##
California Governor Declares State Of Emergency As Santa Barbara Oil Spill Worsens Dramatically
California Oil Spill: Biologists Eyeing Extent of Damage to Waters, Wildlife
Deepwater Horizon oil spill killed large numbers of dolphins, study suggests
Warm seas keep planet on course for a hot 2015 as El Nino builds
'The Bees Can't Wait': White House Plan to Save Pollinators Falls Short, Say Experts

## Intelligence/security/internet/cyberwar ##
South Korean Parents Will Be Required to Have Government-Approved Spyware on Teens' Smartphones
As the national-security-state virus spreads around the globe, South Korea will gradually become more and more like North Korea. And of course many other countries will, too. -- RF
Google a step closer to developing machines with human-like intelligence
Algorithms developed by Google designed to encode thoughts, could lead to computers with 'common sense' within a decade, says leading AI scientist
This is How the Clowns at the DEA Screen for Drug Dealers on Amtrak
It's never been so difficult to look unsuspicious. -- RF
Saudi Arabia is Making a Play to Head the U.N. Human Rights Council
Dating website hack leaks data of 4M users
'Weaponizing Vulnerabilities': New Snowden Doc Reveals Spy Agencies Targeted Smartphones
The NSA Plan to Find Bin Laden by Hiding Tracking Devices in Medical Supplies

## Propaganda ##
The CIA and the Myths of the Bin Laden Raid
False Comparison of N. Korea to Iran
MH-17: Australian news show bristled at being caught broadcasting misleading images

## Systemic breakdown/collapse/unsustainability ##
Senate Democrats demand more money for Amtrak repair backlog
Senate Democrats on Thursday demanded that Republicans provide more money for Amtrak so the railroad can tackle a $21 billion maintenance and repair backlog, including replacing tunnels more than a century old.
Our Social Depression
GM says you don't own your car, you just license it
Takata air bag recall could take years to complete, amid drastic shortage of replacement parts
The Era of Impact (The Archdruid Report) 

## Japan ##
Japan debt plan needs BOJ to keep rates low for years -sources
Japan unveils $110 billion plan to fund Asia infrastructure, eye on AIIB
City that makes Sharp TVs to subsidize purchases by residents
For decades, the city of Yaita in Tochigi Prefecture has served as a production hub for Sharp Corp. Now it's pitching in to boost the struggling company's fortunes by helping residents buy its higher-end products.
Lower House OKs bills on accessing customer, banking data
The Lower House approved legislation Thursday that would, if enacted, enable the government to access citizens' bank deposit records and loosen the rules around how companies use personal customer information.
Japan's First International Drone Exhibition
Chinese bombers fly between southern Japan islands
Reforms and acquisitions: Record 61 Japanese companies post 100 billion yen or more net profit
Key to dismantling reactors: Waste disposal
The money will run out before the dismantling and waste disposal are completed for even one reactor. -- RF

## China ##
China's Richest Man Sees Half His Net Worth Wiped Out In Seconds After Bubble Stock Instacrash
Crash Contagion: Second Chinese Billionaire Wiped Out In Seconds After Stock Instacrash
Over 1,000 university websites have security loopholes
China Manufacturing PMI Contracts Third Month, Output Index at 13 Month Low
Is China Under The Skyscraper Curse?

## UK ##
Income poverty affects third of UK population
Fresh spending squeeze has already begun, says George Osborne
Chancellor tells government departments to make immediate start on finding £13bn of further cuts – with goal of announcing savings by July
Stop scaremongering and prepare for further cuts, Theresa May tells police
May's plan to censor TV programmes condemned by Tory cabinet colleague

## US ##
GOP Lawmakers Rip Obama For Not Being Faithful Enough to Saudi Arabia
The unemployed are dropping out like flies
At a time when 8.5 million Americans still don't have jobs, some 40 percent have given up even looking.
When Will Our Justice Department Jail the Criminal Bankers?
People of little means in our country are routinely being incarcerated for minor crimes. Meanwhile, big-time criminals engaging in major financial crimes that effectively involve the theft of billions of dollars from the public aren't being prosecuted. Today we learned of yet another huge settlement by five of the largest banks operating in our country. The list includes JP Morgan, Citigroup, Barclays, the Royal Bank of Scotland, and UBS.
If Your Parents Are Still Paying Your Bills, You're Not Alone
Hedge Fund Vultures to the Rescue in Puerto Rico
Existing Home Sales Lower Than Any Economist's Estimate; Rising Supply a Good Thing?
Number of NYC Apartments for Rent Above $50k/Month Triples Since '08; 82% of U.S. Construction = Luxury Units
America's rent crisis shows no sign of letting up
China has overtaken Mexico as the source of the largest number of immigrants to the U.S. – the Far East is the new Southwest.
Lawmakers Slam Proposal To Use Medicare Money To Help Americans Who Lose Jobs Due To Free Trade Agreements
Six Baltimore police officers indicted in death of Freddie Gray
Monthly Cash Crunch Time In The Hand-To-Mouth Economy
Chart Of The Day: The Relentless 65-Year Decline In The Labor Force Participation Of Men
Aircraft carrier $370 million over cost cap by Pentagon estimate
Senior DHS Official Charged With Assaulting Juvenile Remains in Key Position
Commuting In America's 30 Biggest Cities: US Workers Still Dependent On Cars To Get To Work

## The Clintons ##
Hillary Clinton Aides Blocked the Release of Public Records
How UCLA Tried to Negotiate a Lower Speaking Fee, but Hillary Clinton Refused and Demanded $300,000
Clinton's Benghazi emails show correspondence with adviser
Clinton campaign to hold first major event June 13
Poof! CNN's Jake Tapper disappears from Clinton Foundation website: Column

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