Sunday, August 30, 2015

 

News Links, August 31, 2015

## Global Ponzi meltdown/House of Cards ##
Money Pours Out of Emerging Markets at Rate Unseen Since Lehman
Moody's cuts 2016 global growth forecasts
Brazil's Recession Marks The Beginning Of A Long, Painful Contraction: Argentina, Venezuela, Rest Of Latin America Could Be Affected
China Slowdown Fuels Uncertainties For Chile's Copper Industry, Violent Labor Strife
Carmakers scramble to adapt to slowing Chinese demand
Uh-oh, Canada. China Pales as a Risk to U.S. Growth
Demand Surge and Shortages of Bullion as Stocks Fall Sharply
The Great Unwind, China Begins Dumping Treasuries
Fed Up Investors Yank Cash From Almost Everything Just Like 2008
Why Are the Four Richest Men in Mexico Getting Crushed?
Trouble South Of The Border: Mexico's vulnerabilities pose a huge risk to the U.S.
3 reasons markets lost faith in China's economy, at a glance
Why The Great Petrodollar Unwind Could Be $2.5 Trillion Larger Than Anyone Thinks
Since 2014 Foreign Central Banks Have Withdrawn 246 Tons Of Gold From The NY Fed

## Airline death spiral ##
Newly unearthed Etihad documents prove extensive, ongoing subsidization scheme, says Partnership for Open & Fair Skies
SkyGreece temporarily ceases all operations as hundreds remain stranded
Airline fears of pilot shortage spark Congress fight over required training
FAA Years Behind in Building Database of Pilots' Records
Pakistan's 36 airports on high alert over retaliation by militant groups
Myanmar airport project delayed four years on lack of funds
United Airlines to revamp scheduling to fight flight delays

## Fault lines/flashpoints/powder kegs/military/war drums ##
Now NATO's Prepping for Hybrid War


## Global unrest/mob rule/angry people/torches and pitchforks ##
Arsonists in Germany hurl Molotov cocktails into asylum-seekers' apartment

## Energy/resources ##
UK's Carillion says cheap oil could hamper Gulf expansion plans
RWE shareholder expects dividend cut by as much as 50 pct - WAZ
The German city of Essen, one of RWE's municipal shareholders, expects the utility to slash its dividend by as much as half in the face of the worst crisis in its 117-year history.
More Oilfield Services M&A Likely On The Way
Whether finally seduced by the relief a merger can usher in or surrendering to the security of making a joint venture permanent, the more distressed companies in the oil patch are de-stressing themselves by succumbing to the safety that mergers and acquisitions (M&A) offer.

## Infrastructure scavenging ##
Opium production in Mexico increased by 50 per cent in 2014, as farmers tried to meet the growing levels of heroin use across the border in the US.
Medical tourism flourishing in Asia

## Intelligence/security/internet/cyberwar ##
When Dan Rather confronted politicians, it was journalism. When Jorge Ramos does, it's "crossing the line"
West Point Professor Says U.S. Military Should Target Legal Critics of War on Terror
An assistant professor of law at the U.S. Military Academy at West Point has argued that legal scholars critical of the war on terrorism should be attacked as "treasonous" enemy combatants.
Snowden may get freedom prize at Norway-Russia border
The Norwegian academy which gave Edward Snowden a free speech prize is planning to hold a "symbolic ceremony" for the whistleblower at the country's far-northern border with Russia.

## Propaganda ##
How Close Was Israel to Bombing Iran?

## Systemic breakdown/collapse/unsustainability ##
City analysts: Olympic Village may 'significantly exceed' cost estimate (Los Angeles)
Like the recent fiasco with the cancelled stadium in Tokyo, this shows that planners and politicians still don't see that net energy decline is making projects cost far more than anticipated. -- RF
Of course that can be said for developed countries, too. Everyone should take a look in the mirror. -- RF
"Our entire infrastructure would collapse."
Manipulation = Fragility
In markets distorted by permanent manipulation the most powerful incentive is to borrow as much money as you can and leverage it as much as you can to maximize your gains in risk-on asset bubbles.
The recent closing of the MacArthur Lock has heightened concerns about a piece of the nation's manufacturing supply chain that, if shut down for any length of time, could have catastrophic effects on the U.S. economy with ripples that could devastate the global supply chain for those manufacturers who rely on timely shipments of steel.

## Japan ##
Abandoned homes dot suburbs of Tokyo
China Entering Ugly Recession, Not Just a "Hard Landing?"
A "hard landing" would be tough for China. But it would still mean economic growth, if very slow growth by Chinese standards. At worst, it would mean stagnation. But now, evidence is piling up that the economy is actually shrinking.

## UK ##
Theresa May says only migrants with jobs should be let in to UK
Home secretary calls for rethink of principle of free movement in EU, blaming borderless system for exacerbating Europe's migration crisis


## The Candidates ##
Trump Pledges To Abolish Gangs, Will Make People 'Happy' With Independent Bid Decision
Republican presidential hopeful Donald Trump Saturday pledged to give greater power to police officers to "get rid" of gangs.
This is sorry, but in truth there isn't a single candidate who knows anything about energy. -- RF
He'd have to contract the job out to the Chinese. They're good at building long walls. Oh, and did I mention the "Canadian threat"? -- RF

And finally...
Joe Biden's Son Blames "Russian Agents" For Ashley Madison Profile




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