Thursday, May 12, 2016


News Links, May 13, 2016

## Global Ponzi meltdown/House of Cards/global cooling/deflationary collapse ##
UN paints bleak picture of stagnating world economy
Another Asset Bubble Cracks: Art Sales Plunge
Pain of Current Container Market Extends Beyond Carriers
Across the world, luxury-home sales get a reality check
The Coming War of Central Banks
Welcome to a currency war in which victory depends on your perspective.
Macy's forecast cut adds to apparel gloom; shares dive
IMF: Global corruption costs trillions in bribes, lost growth
Italy must choose between the euro and its own economic survival
For millennials in Vancouver, the living ain't easy
'Miracle' needed to save the world, because central banks can't, says BTIM's Vimal Gor
Shots Fired: "OPEC Has Practically Stopped Existing" - Rosneft CEO Mocks Defunct Oil Cartel
Russia is moving full steam ahead with its plan to kill the petro-dollar, and is burying OPEC's influence along with it.
Investors Fleeing $9 Trillion of Negative Yields Fuel Bond Binge
In search for growth, Goldman turns to debt
Goldman Sachs Group Inc (GS.N) is hosting its first ever leveraged finance conference next week as the Wall Street bank tries to strengthen its position in debt underwriting and looks for new avenues of growth.
Middle Class Shrinks in 203 of 229 US Metropolitan Areas
Wall Street Dealmaking Goes From Boom to Bust in Few Months
The Biggest Source Of Global Growth In 2016 Is About To Hit A Brick Wall

## Cut, baby, cut! ##
Global Oil And Gas Job Losses: 350,000 And Counting

## War on cash/cashless society ##
ATM use reaching near record lows, data shows (Australia)
Negative rates and a cashless society – good or bad ideas?

## Airline death spiral ##
TSA warned flyers' patience at "breaking point" over long lines
How to shorten airport lines? Get rid of the TSA
Congress approves TSA request for screeners to meet summer crush
Port Authority Warns TSA It Will Be Replaced By Private Security Force Over Long Lines At Airports
US senators to airlines: Drop bag fees to shorten airport lines
What the Heck Makes Flying So Expensive?
Nigeria: Aviation Fuel Scarcity - Passengers Stranded As Airlines Delay, Cancel Flights
Airlines can kick you off a plane with ease
Air Safety After 9/11: Muslims Increasingly Racially Profiled On Planes In 2016
Woman arrested for 'punching pilot' after being ordered off easyJet plane

## Fault lines/flashpoints/powder kegs/military/war drums ##
French Authorities Announce Plans to Set Up Deradicalization Centers
Tired of Greece, migrants try to swim back to Turkey
U.S. plans new wave of immigrant deportation raids
U.S. immigration officials are planning a month-long series of raids in May and June to deport hundreds of Central American mothers and children found to have entered the country illegally, according to sources and an internal document seen by Reuters.

## Global unrest/mob rule/angry people/torches and pitchforks ##
Anti-Maduro protesters clash with police in Venezuela

## Energy/resources ##
The United States' newest nuclear power plant has taken 43 years to build
Nuclear costs roll onwards and upwards
Building new nuclear power stations is becoming hugely more expensive by the day, but decommissioning old ones might prove to be even more costly.
I stick by my prediction that most nuclear power plants will never be decommissioned, just abandoned. -- RF
Many people will think this is cool, but it makes about as much economic sense as negative interest rates. -- RF
Is Glencore Manipulating The Price Of Oil: Swiss Trader Holds Over 30% Of June Brent Supply
Australian Public Broadcaster ABC unable to look at oil statistics
The United Nations estimates that more than one third of food produced worldwide is lost or wasted. For all the food that ends up on our kitchen tables, one good, perfectly edible portion makes it to the trash first.

## Environment/health ##
And they are also highly dependent on fossil fuels. -- RF

## Intelligence/security/internet/cyberwar ##
Hackers Attempt to Hold Capitol Hill Data for Ransom
A Longwinded and Winding Rhodes
Official Washington is abuzz about the boasts of President Obama's foreign policy speechwriter Ben Rhodes regarding his selling the Iran nuclear deal, a new club being wielded by the bomb-bomb-bomb-Iran neocons.
Although an EMP or solar event might take down the grid, these are just possibilities. There is a far greater likelihood that a more mundane — and certain-to-happen — event will crash the system: financial collapse. Everything needs to be financed, and that includes the world's power grids and the internet. BTW, that would also spell the end of all money in electronic form. -- RF
Bad roads, bridges could pare $4T from GDP in a decade
America is falling apart. And the repair bill is getting bigger.
Call me a wild-eyed conspiracy theorist or whatever, but my money is on the engineered virus. -- RF
Don't laugh. Venezuela is not an exception, but a prelude to what's going to happen worldwide. -- RF
"Pension reforms" around the world will consist of reducing and ultimately eliminating pensions. -- RF
Heavy consolidation ahead for Japan autos amid scandals, slowing earnings
Soaring costs could diminish the number of major Japanese car makers to just three or four players by 2021, according to automotive research firm Kelley Blue Book.
Japan risks wasting $56 billion in new coal-fired power stations
Japan risks losing $56 billion (6,223bn yens) over the next 10 years by building coal power plants it won't be able to use, a report released Wednesday warns.

## China ##
Hong Kong Property Market in 'Free Fall': Hayman's Bass
China Inc. Tries to Buy the World, with Impeccable Timing
Not even five-and-a-half months into the year, Chinese mergers & acquisitions in other countries have hit $110.8 billion, nearly four times as much as during the same period last year, and surpassing the total volume of the entire year 2015 ($106.8 billion).
China Coal Province GDP Just Enough to Repay Its Miner Debts
Debt of mining companies in China's leading coal province has ballooned to about the same level as its annual economic output, casting doubt over the ability of the regional authority to backstop their new bonds.

French utility EDF warned on Thursday that the cost of building two nuclear reactors in Britain could reach nearly 21 billion pounds (27 billion euros), about three billion more than it said in October.
Remember, it's not a "recession." It's another leg down in the ongoing collapse. -- RF
Denied Breaks, U.S. Poultry Workers Wear Diapers on the Job
Workers in plants run by the largest U.S. poultry producers are regularly being denied bathroom breaks and as a result some are reduced to wearing diapers while working on the processing line, Oxfam America said in a report Wednesday.
Neither approach has benefited mankind; both have led to untold death and destruction; yet the twin "neos" have built such a powerful propaganda and political apparatus, especially in Official Washington, that they will surely continue to wreak havoc for years to come. They are zombie ideas and they kill.
## The candidates ##
Trumptopia (Jim Kunstler)

And finally...

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