Sunday, June 14, 2015


News Links, June 15, 2015

## Global Ponzi meltdown/House of Cards ##
Worst bond crash in almost 30 years is early warning of turmoil to come
How Australia's Big 4 Banks Can Sink the Entire Economy
Euro zone formally discusses Greek default for first time
Greece and creditors fail in 'last attempt' to reach deal
Grexit Contagion Uncontained - European Peripheral Bond Risk Is Soaring
Macedonia Central Bank Blocks Greek Bank Withdrawals "In Case Of Grexit"
Is Greece Moving Towards Capital Controls?
One Week After "Massive" Outflow, Greek Depositors Yank Another €600 Million From Local Banks
Is Deutsche Bank The Next Lehman?
'Fast Track' Would Hand the Money Monopoly to Private Banks—Permanently
Joseph Stiglitz, Thomas Piketty and Other Renowned Economists Demand an End to Greek Austerity
Well, sorry to say it, but "26 of the world's most distinguished economic minds" have it wrong here. This doesn't mean I think austerity is good for Greeks, or anyone else, but that we don't have a choice. The future is austerity; embrace it now. -- RF
End of the Line! China and Germany Look Ready to Pop
China Leads Record $9 Billion Outflow From Emerging Stock Funds
Finland slashes development aid by 43%
Hyundai Motor Cuts Output in South Korea After Sales Decline
Auto sales plummet in Brazil
Bank of Canada says household debt, housing price crash remain major concern for economy
Canadian Economy More Damaged By Oil Prices Than Expected
It Gets Messy in Canada
Left-wing mayors surge into office in Spanish cities
Gold: The US sets the price but Asia does the buying
European central banks step up gold repatriation
Toronto's Epic Condo Bubble Suddenly Turns into Condo Glut
The War On Cash: Officially Sanctioned Theft
The Fallacies Of GDP: When More Is Not Better
Two of the Most Economically Sensitive Commodities Suggest a Crash is Coming

## Airline Death Spiral ##
Airline Profits Soar as Fuel Prices Drop, but Fliers Face Bumpy Ride
Don't expect your flying experience to be pleasant, or cheap this summer.
Tigerair Flight to Hainan Gives Passengers a Scare After 'Wheel Malfunction'
Malaysia Airlines flight made emergency landing at Melbourne airport after reported engine fire
United Airlines Customers Outraged After Being Put Up in Military Barracks
EPA Cracks Down On Airline Emissions
The U.S. Environmental Protection Agency (EPA) plans to regulate the greenhouse gas emissions of the nation's airplanes, calling them dangerous to Americans, presenting the airline industry with what one representative called an expensive "administrative nightmare."
Super-elite or just elite? Airlines toughen frequent-flier benefits
American and Southwest report disappointing monthly figures; airline stocks sink

## Fault lines/flashpoints/powder kegs/military/war drums ##
South China Sea: artificial-island building accelerates to fill in holes on atolls
China and Philippines diplomatic row ignited after old map found washed up under Newcastle housing estate
Damascus suburb hit by poison gas remains cut off, besieged
Islamic State, Kurds Fight For Tal Abyad, Sparking Mass Syrian Exodus Over Turkey's Akcakale Border Crossing
Are there any 'moderate' rebel groups left in Syria?
U.S. to Equip More Tribal Fighters in Iraq
Houthi forces in Yemen seize provincial capital near Saudi border: residents
Daesh attack Iraq troops near Baiji refinery
India floats first locally made aircraft carrier
U.S. poised to put heavy weaponry in East Europe
U.S. House Admits Nazi Role in Ukraine
The U.S. House of Representatives has admitted an ugly truth that the U.S. mainstream media has tried to hide from the American people – that the post-coup regime in Ukraine has relied heavily on Nazi storm troopers to carry out its bloody war against ethnic Russians.
China plans to build coast guard base near Senkaku Islands: sources
Behind the Scenes / China's nuclear subs aim to probe South China Sea
Manila slams Beijing in new South China Sea documentary
Palau burns Vietnamese boats caught fishing illegally
Italy PM threatens to 'hurt' Europe if other countries refuse to take more migrants
Russia plots military buildup in Central Asia as counterweight to China
North Korea fires three short-range missiles into Sea of Japan

## Global unrest/mob rule/angry people/torches and pitchforks ##
Up to 3,500 march in Umbrella Revolution protest in Hong Kong
Protesters now everywhere in Latin America as boom fades
Thousands rally outside Japanese parliament building against Abe's security bills
Will Israel's "whiff from hell" weapon be used to crush US protests?

## Energy/resources ##
North Sea oil company Trap Oil could run out of cash in July
Alberta's oil industry has shed 25,000 jobs already this year
Mapping Global Oil Consumption
Energy investments in Norway to flatten out
Putin, Erdogan meet, discuss gas pipeline
South Korea Expected To Shut Down Oldest Nuclear Reactor Amid Safety Concerns
Government to tax consumers who store their own renewable energy (Spain)
Saudi Arabia urged to devise long-term plan for oil price protection
No, BP, the U. S. did NOT surpass Saudi Arabia in oil production
More Than 2,000 Potential Job Losses in Norway by 2016
Statoil and Aker Solutions could potentially lay off 2,200 employees by the end of 2016 due to cost cutting operations.
Around 2,200 oil and gas sector jobs could be lost in Norway by 2016 at Statoil and Aker Solutions. Statoil could potentially make 2,000 job cuts by the end of 2016, Norwegian daily newspaper Dagens Naeringsliv (DN) reported Friday.

## Got food? ##
Egg prices soar as bird flu fears come home to roost

## Environment/health ##
WWF: Irresponsible food consumption fuels global climate change
Temperature in Alaska hits record high
Plants may run out of time to grow under ongoing climate change
U.N.: Pope's encyclical may have 'major impact' on climate talks
Seoul a ghost town as South Korea grapples with Mers fear
S. Korea, WHO downplay pandemic potential of MERS after 14th fatality, 12 new infections
South Korea's MERS outbreak "large and complex:" WHO
Hospital at center of South Korea's MERS suspends services; seven new cases
Polar Bears Are Now Eating Dolphins
Pope Francis' climate encyclical: Are we close to a "tipping point" in the climate change debate?
Three times more whooping cough cases recorded in 2015 (Australia)
Red Cross Holds a Press Conference In Haiti. It Doesn't Go Well.
Half the world's population could be obese by 2030, warns a McKinsey Global Institute report
Ain't gonna happen. -- RF
2nd earthquake this year near Alberta town, previous one linked to fracking

## Intelligence/security/internet/cyberwar ##
Why The OPM Breach Is Such a Security and Privacy Debacle
US Government Admits 2nd "Chinese" Cyberhack Exposed Military Intel
Officials say deeply personal information in hackers' hands
NORAD's hidden bunker keeps the (data) snoops out
Iranian Authorities Will Be Banned From Using Smartphones To Protect Classified Info From Cyberattacks
Data Theft Today Poses Indefinite Threat of "Future Harm"
Hiding Facts to Thwart Democracy
Over-classification of U.S. government information is a grave threat to the Republic, giving politicians and bureaucrats the power to hide facts that aren't really sensitive but are vital to a meaningful public debate, such as the IG report on President Bush's surveillance program.
Computer in Merkel's office hit by cyberattack: report
White House Orders Agencies To Beef Up Cyber Defenses 'Immediately'

## Propaganda ##
The Sunday Times' Snowden Story is Journalism at its Worst — and Filled with Falsehoods
A good read. -- RF

## Systemic breakdown/collapse/unsustainability ##
Across the Nation, States Charge Inmates for Prison Costs
Thanks to the war on drugs, increasingly harsh laws and lengthening sentences, the number of people behind bars in the United States has risen by roughly 700 percent since 1970. To make up for the rising costs of having over 2 million people in jail or prison, states have created "pay-to-stay" programs in which inmates can be charged for room, board and medical costs. Pay to stay programs have been around for decades, but they've been getting more popular as prison costs have steadily increased.

Japan to speed up return of Fukushima area evacuees
Japan plans to revoke evacuation orders for most people forced from their homes by the Fukushima nuclear disaster within two years as part of a plan to cut compensation payouts and speed up reconstruction, the government said on Friday.
PLA has right to ram Japanese warships in South China Sea: admiral
Admitting that Japan has the capability to project its naval force to the South China Sea, Admiral Li Jie of China's People's Liberation Army said Chinese warships also have the right to ram Japanese ships in the disputed region, according to the nationalistic Chinese tabloid Global Times.
Half of China's New Car Dealers Lost Money in 2014, Survey Says
An industry expert said China's annual automobile production capacity may reach 40 million vehicles this year. Even if 7% growth in sales is achieved, this will mean 10 million unsold vehicles.
Globalized yuan due to swap pacts
THE value of currency swap deals that China has reached with other countries has surpassed 3 trillion yuan (US$483 billion), highlighting the yuan's globalization.
'He's earned a lot of money while he has been here, but has done nothing'
Palestinians looking on from the West Bank and Gaza accuse Tony Blair of being "useless" as Middle East envoy

Jeb Bush's Tangled Past
As Jeb Bush prepares to announce his presidential candidacy, he's mostly viewed as the smarter and less dangerous Bush brother, but he has his own tangled history of dubious business deals and unsavory associates.
The cause of the water main break, which was installed in 1885, was not immediately known.
Duh! -- RF

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