Sunday, November 29, 2015


News Links, November 30, 2015

## Global Ponzi meltdown/House of Cards/global cooling/deflationary collapse ##
Debt load has many Canadians 'living on the edge,' with high housing prices largely to blame: report
French Unemployment Rises Most in Three Years to Record Level
Thanksgiving shopping at stores 'was a bust' (US)
'Classic Ponzi scheme': Sydney house prices cost 12 times the annual income
Taiwan Cuts Growth Forecast to Lowest Since 2009 on Export Slump
Europe's Banks Are Still Drowning In Bad Loans
BlackRock Spreads its Tentacles in Brussels
TTIP talks: EU alleged to have given ExxonMobil access to confidential strategies
International Monetary Fund Likely To Put Chinese Yuan In SDR Reserve Currency Basket

## War on cash/cashless society ##
Switzerland To Launch Huge War On Cash Experiment
France Shutting Down Prepaid Debt Cards
Prepaid cards: Help for financially excluded or terrorist tool?
Biometric payment systems put money at your fingertips

## Airline death spiral ##
Airline Stock Roundup: Global Travel Alert Hurts Carriers; Delta, United Continental in Focus

President Obama demands that Turkey close stretch of frontier with Syria
Ankara is accused of tolerance of – if not complicity with – the terrorists, who use border as a crossing point for Isis recruits and oil sales
A Russian warplane recently entered Israeli-controlled airspace from Syria but the intrusion was resolved without incident, Israeli Defense Minister Moshe Yaalon said on Sunday.

Nearly a dozen fishing boats, some with bodies aboard, have been drifting into Japanese waters, raising speculations of migrations from nearby North Korea.
Refugees could be fined or lose residency for failing to uphold Dutch values
Newcomers told to be good neighbours and speak Dutch if they want to stay in Netherlands, as country adopts tougher approach on migration
German Economist Concludes Refugees Will Ultimately Cost Germany €900 Billion
In contrast to the absurd Keynesian position that refugees will pay for themselves via higher growth rates, German economist Bernd Raffelhüschen estimates that over the long haul Refugees Will Cost Germany €900 brillion.
Exactly so. Although refugees should be helped, the idea that the added labor force (and taxpayers) will help economies is a relic of the time when oil extraction costs were cheap. It's the same outmoded thinking that building still more roads will "stimulate" economies. Those days are over. -- RF

## Global unrest/mob rule/angry people/torches and pitchforks ##
Greek pensioners take to streets ahead of expected cuts
Anti-U.S. base protest (Japan)

## Energy/resources ##
Fitch: More capital budget cuts coming in 2016
Another round of budget cuts and more financial trouble are coming for U.S. oil and gas companies next year, debt ratings agency Fitch Ratings said Monday in its 2016 oil and gas outlook.
Power ship steams into Ghana port to help end blackouts
A power-generating ship was officially welcomed at Ghana's main port on Sunday after arriving the previous day in what Power Minister Kwabena Donkor said was a bid to keep the country on track to end chronic blackouts.
The $30 Oil Cliff Threatening Russia's Economy
Highly unlikely. -- RF
Germany's "big four" utilities - E.ON, RWE , EnBW and Vattenfall - have already set aside nearly 40 billion euros ($42 billion) to fund the decommissioning and waste disposal but say they cannot handle the problem on their own.
There is not enough money for this, and there never will be. Keep watching this situation as national economies tank, money disappears, and the legacy of nuclear power turns into an unmitigated global disaster. -- RF

## Got food? ##
South Sudan food team finds risk of 'widespread catastrophe'
Got slavery-free food? -- RF

Potatoes can help cut cancer risk
New study reveals eating potatoes and cabbage can help reduce risk of developing stomach cancer
A former HSBC employee was sentenced Friday to five years in prison for aggravated industrial espionage. Although HSBC claims the whistleblower initially stole the information for his own personal financial gain, his revelations exposed international fraud, tax evasion, and money-laundering scams involving thousands of corrupt businessmen and arms dealers.

## Systemic breakdown/collapse/unsustainability ##
Beijing's super commutes reflect a city bulging at the seams
Certainly, these are laudable goals — sane and humane people would not argue against the attempt to lift millions of humans out of poverty. Unfortunately, there will never be enough cheap energy to accomplish much of this. Meanwhile, thanks to the rising cost of energy extraction, poverty is making a comeback in developed countries like the US, Japan, and the UK. The economic growth needed to float all humans' boats will never come. -- RF
Disaster in the making. -- RF

## China ##
Cargo theft has become a huge problem that the FBI says causes $15 billion to $30 billion in losses each year in the U.S.

## The candidates ##
"Worldwide, the Muslims were absolutely going wild," the real-estate mogul said at a campaign rally in Sarasota, Florida.

And finally...
Wife takes revenge on cheating husband by selling house while he's away on business trip!

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