Tuesday, September 27, 2016


News Links, September 28, 2016

## Global Ponzi meltdown/House of Cards/global cooling/deflationary collapse ##
Deutsche Bank in Free Fall. Shares, CoCo Bonds Plunge. Merkel Gives Cold Shoulder on Bailout. Bank Denies Everything
U.S. Bond Market's Biggest Buyers Are Selling Like Never Before
Draghi Increases Risk of Global Trade Collapse With Brexit Tough Talk
WTO Slashes Global Trade Forecast by 39% Since April: "Wake-Up Call" Says WTO Director
Perry Capital Closing Flagship Fund After Almost Three Decades
Will Deutsche Bank's Collapse Be Worse Than Lehman Brothers?
Deutsche Bank Contagion: Nord LB, Lufthansa, Korean Air Pull Bond Deals
Saudi Arabia cuts public sector bonuses, ministers' salaries
Malaysian Banks Brace For Profit Hits As O&G Firms Restructure Debt
Small Banks Must Go: Megabank-Meister Draghi
Global debt climbs towards fresh high as companies and countries keep on borrowing
Why Fiat Money Manipulation Can Never Produce Prosperity
I agree. Still, people tend to miss or misinterpret important economic elements. For example, he says, "The final decades of the worldwide gold standard, the 1950s and 1960s, were the most prosperous decades of the past hundred years." While the gold standard might have contributed to this prosperity, the author seems unaware that those two decades featured unprecedented access to energy that was unbelievably cheap and high in quality, i.e., very high net energy. Without a doubt, this was the primary driving force at the time. It was in the early 1970s that oil prices started rising and the net energy of the US oil industry started falling. -- RF
France unlikely to achieve 2017 deficit target: fiscal watchdog

## Cut, baby, cut! ##
Germany "Other" Bank: Commerzbank To Fire 9,000, 18% Of Its Entire Workforce
Bank of America to cut Asia investment banking jobs: Sources

## War on cash/cashless society ##
How the death of cash could help prevent the next banking crisis
World's Best Performing Currency: Bitcoin Inflation Rate Drops To 4%

## Airline death spiral ##
Could airports ban travellers' families and friends for security?
PAL Plane Safely Lands in Manila After Smoke Seen in Cabin
The looming crisis in airport capacity
Airline Secrets No One Wants You To Know About
Airlines Embrace Pollution Plan That Could Cost Them $24 Billion
Airlines Are Cozying Up to Biofuels, but Don't Expect Ethanol to Propel Flights Anytime Soon
Considering the sheer scale of industrial civilization, running the industrial machine on biofuels is a joke. Ethanol in particular is a loser. It has only about two-thirds the energy of gasoline per unit volume, and its production from corn delivers net energy that is barely positive. The more ethanol added to the energy mix, the farther it drives net energy down and the more it aggravates an already bad situation. It's like drinking seawater to slake your thirst. -- RF

## Fault lines/flashpoints/powder kegs/military/war drums ##
Squeezing North Korea: old friends take steps to isolate regime
New Cold War Spins Out of Control
U.S. enthusiasts for the New Cold War with Russia appear to be ignoring less-belligerent orders from President Obama and pushing for a dangerous escalation of tensions.

## Migrants/refugees ##

## Global unrest/mob rule/angry people/torches and pitchforks ##
Hanging on to the land and getting any produced food to China are going to be much more difficult. When food shortages start, locals will strip the fields bare. And such land purchases constitute a tacit admission by the Chinese government that it won't be able to feed all its people. -- RF
Obesity Threat: Poor-Quality Diet Puts 3 Billion People At Risk, Global Panel Report Says
Definitely not. The author is correct in pointing out the increased challenges to outdoor agriculture due to climate change, but vertical farming depends on continuation of the industrial system, which is impossible. The greater people's dependence on vertical farming, the greater the shock when the lights go out. -- RF
Millions of Trees are Dying Across the US
Throughout the U.S., trees are dying at an astonishing rate. The reasons for the die-off vary from location to location — drought, disease, insects and wildfires – but the root cause in many of these cases is the same: climate change.

## Intelligence/security/internet/cyberwar ##
Facebook, It's Time to Open Up

## Propaganda/censorship ##
America's Deceptive Model for Aggression
Since NATO's 1999 war on Serbia, U.S. officials have followed a script demonizing targeted foreign leaders, calling ultimatums "diplomacy," lying about "war as a last resort" and selling aggression as humanitarianism.
How the FDA Manipulates the Media
The U.S. Food and Drug Administration has been arm-twisting journalists into relinquishing their reportorial independence, our investigation reveals. Other institutions are following suit
American Pravda: The Destruction of TWA Flight 800
The conclusion says what I've been saying for a long time: The US has an excellent propaganda system. -- RF
Waste of money. The project will be abandoned midway. -- RF
Dams surrounding the stricken Fukushima No. 1 Nuclear Power Plant operated by Tokyo Electric Power Co. (TEPCO) have become de facto storage facilities for high concentrations of radioactive cesium as the element continues to accumulate.

"Exploration has fallen to record lows and little new investment has been approved in 2016 and 2017 looks no better," said Michie in a statement marking the release of Oil & Gas UK's Economic Report 2016.

## US ##
Concerning #1, we often hear how the national debt has skyrocketed "under Barack Obama." While I'm not making any excuses for him, it's important to understand that soaring national debt was an inevitability that would have happened under any president. As the world's largest economy, a huge amount of debt had to be added to make up for the loss of energy leverage and keep the economy from collapsing. -- RF
Police Killings Won't Stop
The corporate state, which has destroyed traditional forms of social control such as stable employment and cohesive communities, has no intention of curbing police violence. Militarized police who can kill with impunity are all that lies between the corporate state and revolt.
And remember, this is primarily an energy problem, not a money problem. That's why the money-based prescriptions for solving the problem are not working. -- RF
Domestic and international experts rate the US elections as the worst among all Western democracies. According to Electoral Integrity Project, Denmark, Finland, Norway and Sweden are at the top of the ranking, while the US scores 62.

## The candidates ##
Hillary vs Donald: So Who Won? (A review of the polls)
Clinton Toned Down Her Hawkishness
Hillary Clinton's strongest point in Monday's debate may have been what she didn't say, as she avoided a return to her hawkish rhetoric that has alienated many anti-war Democrats.
Clinton's Faulty New Scheme to 'Fight' ISIS
Even as Hillary Clinton pushes a new scheme for defeating ISIS, the reality is that contradictory U.S. policies in the Mideast that she helped formulate are fueling the growth of jihadi extremism.
The New Cold Warriors Sic the FBI on Donald Trump
While we have gotten used to the neo-McCarthyite tactics employed by the Clinton campaign linking Donald Trump to the  Kremlin, the whole disgraceful operation has reached a new low with the introduction of US law enforcement agencies into the mix.

And finally...
Police respond to emergency call about man biting woman, find 'zombies'

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