Sunday, February 07, 2016


News Links, February 8, 2016

## Global Ponzi meltdown/House of Cards/global cooling/deflationary collapse ##
The Chart of Doom: When Private Credit Stops Expanding...
Once private credit rolls over in China and the U.S., the global recession will start its rapid slide down the Seneca Cliff.
Four Things that Keep Spain's Senior Bankers Awake at Night
Citi: World economy seems trapped in 'death spiral'
Oil market spiral threatens to prick global debt bubble, warns BIS
An 'illusion of sustainability' has blinded borrowers and debtors, lulling them into a false of security. The BIS says liquidity is now drying up
Baltic index records new low for ninth straight session
Energy loans likely to cause further losses for big US banks
Hedge funds post worst start to year since 2008
Inflation-wracked Venezuela orders bank notes by the planeload
Debt risks mount as Canada's base metal miners sink deep in the hole
Saudi real estate projects delayed, scaled back amid cheap oil
US tech companies have stashed over $420 billion overseas
LinkedIn sheds $11 billion in value on stock's worst day since debut
Six Members Resign From London Metal Exchange
Canada sells 43.3% of its official gold reserves
These Vancouver Homes Sold For Millions In 2011 And Have Been Vacant And Rotting Since: Here's Why
The predators behind the TPP (Karel Van Wolferen)
German Judges Pooh-Pooh Obama's Sacred US-EU Trade Pact
We may have reached 'peak stuff', but the rich still have it all
Ukraine's Economic Minister Resigns, Citing High-Level Corruption
Bank Of America Admits The U.S. May Already Be In A Recession
Remember, each "recession" — in any country — is not a business downturn in the usual sense, but another leg down in the ongoing economic collapse happening around the world. This will continue until the world settles at a lower economic level corresponding to the lower level of net energy available. Until then, it's going to be a wild ride. -- RF

## Cut, baby, cut! ##
BlackBerry Confirms Layoffs In Canada, Florida, Impact Felt On BlackBerry 10
Siemens to slash jobs at energy-related unit: Handelsblatt
Prolonged oil slump sparks second wave of cuts to 2016 budgets

## War on cash/cashless society ##
And Now "Some Important News About JPMorgan's New Cash Policies"
Sweden Sees Shift Away From Cash

## Airline death spiral ##
Zika: planes returning from infected areas to be sprayed with insecticide
Is the United States Airline Industry Headed Toward a Recession?
How airlines are cutting fares to offset the weak economy and boost demand
Gun seizures at Tampa International Airport on the rise
There's a new service offering unlimited flights on airlines like American, Delta, and JetBlue

## Fault lines/flashpoints/powder kegs/military/war drums ##
Will a Turkey Related Event Spark a Much Wider Regional War?
$66M set aside by U.S. for military facilities in Philippines
NATO Hosting Anti-ISIS Coalition Meeting
North Korea Launches Rocket Capable Of Delivering Nuclear Warhead Ahead Of Earliest US Prediction
Losing Afghanistan: Taliban close to re-capturing key city

Heavy clashes in southeast Libya, 30 killed
Tunisia Finishes Construction Of Barrier Along Libyan Border Aimed At Keeping Militants Out
German Armed Forces To Integrate Sea Battalion Into Dutch Navy
An Exasperated John Kerry Throws In Towel On Syria: "What Do You Want Me To Do, Go To War With The Russians?!"
Iran wants euro payment for new, outstanding oil sales
Iran wants to recover tens of billions of dollars it is owed by India and other buyers of its oil in euros and is billing new crude sales in euros, too, looking to reduce its dependence on the U.S. dollar following last month's sanctions relief.

## UAVs ##

## Global unrest/mob rule/angry people/torches and pitchforks ##
French retired general among anti-immigration protesters
Thousands of anti-migration protesters took part in rallies in Britain, Ireland and other European countries over the weekend, including a retired general and head of the French Foreign Legion who was arrested during a demonstration in Calais.
Moldova Economic Crisis: How Banking Scandal, Political Corruption Led To Protests In Europe's Poorest Country

## Energy/resources ##
Drilling has ground to a halt in two gas basins in Oklahoma, along with the Fayetteville reservoir in Arkansas and the Niobrara formation in Colorado and Wyoming, data from Baker Hughes Inc. show.
Wood Mac: Producers Continue to Run Loss-making Oilfields
Oil producers around the world are continuing to operate many lossmaking oilfields, according to new research by Wood Mackenzie. Less than 0.1 percent of global production has been halted to date even though 3.5 percent of global supply is currently cash negative, a survey by the research consultancy has found.
Six OPEC Members, Plus Russia, Now Open to Emergency Meeting
After rapid growth, U.S. energy MLPs running out of road
Investment vehicles that funneled more than $100 billion into U.S. pipelines, storage and other facilities during the shale boom now face an existential crisis after oil tumbled so low that it upended assumptions about risks and returns they offer.
While the project is aimed at reducing carbon emissions, environmental activists are concerned that it will require water from the nearby Mansour Eddahbi dam for cooling, at a time of ongoing drought.
Swedish regulator orders tighter security at nuclear plants
Sweden's nuclear regulator has ordered tighter security measures including armed guards and perimeter dog patrols at its nuclear power plants because of the global security situation.
As serious as this is, intruders and would-be terrorists are small potatoes compared with the certain catastrophe facing all the world's nuclear power facilities: not enough money for decommissioning and waste disposal. If you are religious, get down on your knees and pray. -- RF
The replacement of broad leaf species like oak with conifers has increased warming say researchers

## Intelligence/security/internet/cyberwar ##
Snowden's Chronicler Reveals Her Own Life Under Surveillance
The Pentagon's secret pre-crime program to know your thoughts, predict your future
US military contractors are mining social media to influence your 'cognitive behavior' when you get angry at the state
The same way you can't buy or sell a plane ticket in the airport parking lot, it is going to become increasingly difficult to buy event tickets anonymously. When attendees are no longer anonymous, names could quickly be referenced against security lists, as they are when consumers buy plane tickets and travel through airports.

## Propaganda ##
Putin Calls Out Obama on Big Lie
A Look at Ukraine's Dark Side
Americans have been carefully shielded from the ugly underbelly of Ukraine's Maidan uprising in 2014 that overthrew the elected president and installed a U.S.-backed, fiercely anti-Russian regime which has unleashed armed neo-Nazis. But a French documentary has dared to expose this grim reality.

## Systemic breakdown/collapse/unsustainability ##
Simply put, American roads and bridges are a disaster—and getting worse. In its most recent infrastructure "report card," the American Society of Civil Engineers gave US highways a D+, a sorry state of affairs that it estimates costs the nation $101 billion each year in lost time and fuel. Bridges got a C+. Roads in some urban areas are so terrible, driving on them costs car owners more than $1,000 a year in extra maintenance and fuel.
22 Signs That The Global Economic Turmoil We Have Seen So Far In 2016 Is Just The Beginning
The budget is coming up a bit short. Brother, can you spare a dime? -- RF

## China ##
Chinese New Year sees no-monkeying-around stance on steel overcapacity
As China takes off for the new Year of the Monkey, the mood for many in its steel industry will decidedly be sombre, judging from the recent slew of warnings several steelmakers have issued, predicting massive losses for 2015.
UK wants authority to serve warrants in U.S.
British and U.S. officials have been negotiating a plan that could allow British authorities to directly serve wiretap orders on U.S. communications companies in criminal and national security inquiries, U.S. officials confirmed Thursday.

## The candidates ##
How Fox News Undercut Trump
The Republican Establishment, led by powerful media boss Fox News' Roger Ailes, undercut Donald Trump's anti-Establishment campaign with some last-minute maneuvers in Iowa, including baiting Trump to boycott a Fox debate.
Eight years after they approved funding for it, construction is years behind schedule and legal, financial and logistical delays plague the $68 billion project.

And finally...

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