Thursday, November 12, 2015


News Links, November 13, 2015

## Global Ponzi meltdown/House of Cards/global cooling/deflationary collapse ##
'It is a bloodbath': Calgary office towers are about to feel the full force of the oil crash
Office-tower owners in Canada's energy hub are about to feel the full force of the oil-price crash. Vacancy is already at a five-year high in Calgary and rents are the lowest since 2006 after thousands of office jobs were cut. Energy company tenants have now begun to ask for rental relief and are offering subleases for as little as half the going rate.
Yuan Ticks IMF Reserve Entry Boxes as Goldman Sees Outright Yes
Eurozone economic lift-off still appears a long way off
Red Ponzi Breaking—-China's October Loan Growth Plunges To One-Half Of Forecast
Chart Of The Day: What The Next Junk Debt Default Cycle Will Look Like
U.S. banks said to hold $10 trillion of 'risky' trades
Coming To A Balance Sheet Near You—-$2 Trillion In Debt Camouflaged As Operating Leases
'Sick man of Europe' Finland agonises over austerity
Incumbents Swept from Office Around the World———New Set Of Looters Installed
Recent news paints global picture of doom and gloom for steel
From Australia to Zambia, slowing China economy causes pain
Gold Bullion Demand Surges 27% In Q3 – New Chinese "Buying Spree"
Gold coin sales haven't been this high since the financial crisis
European Commission President Jean-Claude Juncker Caught in Another Lie, Plans Mutualized Bank Guarantees
Australian Media Throws Up All Over 'Stellar' Jobs Report: "Don't Believe The Jobs Figures!"
World's Largest Hedge Fund Dumped 31% Of Its US Equity Holdings In The Third Quarter
Cheap oil may be good for gas guzzlers but not for the S&P 500

## War on cash/cashless society ##
Banks could use bitcoin technology by next year: study
Apple boss: Next generation of children 'will not know what money is'
Tim Cook, chief executive of Apple, makes bold prediction about the death of cash as he promotes Apple Pay alternative

## Airline death spiral ##
In the last decade, most of the big U.S. airlines have shifted major maintenance work to places like El Salvador, Mexico, and China, where few mechanics are F.A.A. certified and inspections have no teeth.
Why holiday flying just got Grinchier
IATA: Growth in air freight market sluggish in Sept.
The global air freight market grew slightly in September but remained weak overall due to the "anemic growth" in trade, according to the International Air Transport Association (IATA).

ISIS Claims Beirut Bombing; 43 Killed Over 200 Wounded
Chinese navy visits Cuba, amid Havana-Washington thaw
Top Chinese General Visits Djibouti Amid Base Speculation
A top Chinese military officer visited Djibouti at the weekend, official media reported, prompting a state-run newspaper Tuesday to downplay concerns Beijing is planning to establish a base in the strategically vital African entrepot.
US flies military aircraft near disputed islands in signal to China
US official claims Chinese military radioed "get away from our islands" as    B-52 bombers flew over South China Sea

## Energy/resources ##
The oil price collapse seems to have stabilized for now, but unfortunately for investors and oil companies, the mid-forties price per barrel of oil is not high enough to allow energy companies to sustain their E&P budgets while also maintaining capital expenditures and dividends. To that end, many smaller oil firms have already taken draconian measures to cut costs. Now, it looks like it's the oil majors turn.
Oil tankers queueing in U.S. Gulf seen as new symbol of glut
'Not Safe to Consume': Insiders Blow Whistle on Pork Inspection Regime
"Personally, I will not eat any products that bear the name of the company for which this meat is produced," says USDA whistleblower

## Environment/health ##
Photos: Palm oil production has been smoking out Southeast Asia for 20 years
Montreal begins huge, controversial sewage dump into St. Lawrence River
The Canadian city of Montreal began a controversial dump of untreated sewage into the St. Lawrence River early on Wednesday, angering environmentalists with a repair operation that could release as much as 8 billion liters (2.1 billion gallons) of wastewater into a major waterway.

## Systemic breakdown/collapse/unsustainability ##
The key to broadly distributing capital and reversing inequality is to nurture the source of social capital: the community economy.
Infrastructure: Bridging the gap
Why is there still an annual $1tn shortfall in spending for public sector projects?
A couple of things come to mind. First, Koppel is probably a city-dweller, and — although everyone should have some preserved food on hand — freeze-dried or canned food is virtually the only thing that city people will have to fall back on, if it's not stolen from them at gunpoint. Which indicates that the only real food (and fuel) security is country living. A smart government would immediately see this and take steps to restructure society, but don't expect to see much action like that, anywhere. Second, this piece mentions countries which could/might launch cyberattacks or EMP attacks on the US, but what makes anyone think it wouldn't be the other way around? In either case, attacks would elicit counterattacks, and the world would be a much different place inside of a week. What's more, economic collapse and environmental disasters are going to considerably aggravate the situation. Have a nice day! -- RF
"Super-Welfare" Guaranteed Income For All Isn't a Solution--It's Just the New Serfdom
To the degree that serfdom is political powerlessness and near-zero access to the processes of accumulating productive capital, super-welfare guaranteed income for all is simply serfdom institutionalized into a Hell devoid of purpose, pride, meaning, community and positive social roles.
Israeli Executives Warn of Industrial Crisis
Citing a dangerous 40 percent drop in anticipated exports this year, Israeli defense industry leaders are exhorting the government of Prime Minister Benjamin Netanyahu to boost domestic defense spending or suffer the consequences of eroded competitiveness and possible layoffs.
The proposal will be aimed at prompting companies to further boost capital spending and increase wages to help promote a virtuous economic cycle, sources familiar with the matter said.
Japan pushes clean-coal technology; hurdles abound
Food relief groups plan nationwide network to address growing poverty
According to a 2012 survey by the Organization for Economic Cooperation and Development (OECD), 16.1 percent of households in Japan are believed to be living on less than half the national median income. The rate is even higher for single-parent households, most of which are headed by single mothers, where 54.6 percent are living in poverty — the highest in the developed world.

## China ##
Moody's: Falling Chinese steel demand will drive capacity cuts and restructuring
UK Hinkley Point plan puts EDF survival at risk-employee shareholders
EDF's 18 billion pound ($27.4 billion) project to build two nuclear reactors in Hinkley Point, Britain is so expensive and so risky that it puts the survival of the French utility at risk, an association of employee-shareholders said on Thursday.

## US ##
The Stench Of Freddie Mac Is Back——$18 Billion In Crony Capitalist Thievery
No empty nest: Young women live with M & D like it's 1940
Young women are living with their parents or relatives at a rate not seen since 1940 as more millennial women put off marriage, attend college and face high living expenses.

## The candidates ##

And finally...
Garlic gets the girl: Forget aftershave - just eat garlic to attract women, study finds
Scientists finds that sweat of men who had eaten the bulb smelt more attractive to women because it suggests the person is healthy

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