Friday, June 30, 2017


News Links, July 1, 2017

## Global Ponzi meltdown/House of Cards/global cooling/deflationary collapse ##
Pensions Timebomb In America – "National Crisis" Cometh
Understanding the Cryptocurrency Boom (and its Volatility)
Speculative booms are often poor guides to future valuations and the maturation trajectory of a new sector.

## War on cash/cashless society ##
The 45-Millisecond Ether Flash Crash Prompts Safeguard Effort

## Airline death spiral ##
Grow Heathrow runway protest community given 14 days to leave site

## Energy/resources ##
Only $60 Oil Can Save The Aramco IPO

## Environment/health ##
Ew! -- RF
Black carbon persists across the planet, accelerating glacial melt
If global warming encourages an uptick in the size and frequency of wildfires in the coming decades, as expected, the rise in black carbon deposits will likely accelerate glacial melt.

## Intelligence/security/internet/cyberwar ##
The Age of No Privacy: the Surveillance State Shifts into High Gear

## Systemic breakdown/collapse/unsustainability ##
Joseph Tainter: The Collapse Of Complex Societies (interview)

## Japan ##
Ex-TEPCO leaders plead not guilty in Fukushima nuclear trial

Thursday, June 29, 2017


News Links, June 30, 2017

## Global Ponzi meltdown/House of Cards/global cooling/deflationary collapse ##
Multimillionaires added most to their wealth in one country last year
Global borrowing hits record $217T, as central banks prepare to tighten credit
World markets were jarred this week by a chorus of central bankers warning about overpriced assets, excessive borrowing and the need to raise rates
"Tightening" Slugfest Erupts behind the Fed
July rate hike "in the bag" for Canada. Bank of England, ECB scramble.
Global shipping is still feeling the effects of a cyber attack that hit A.P. Moller-Maersk two days ago, showing the scale of the damage a computer virus can unleash on the technology dependent and inter-connected industry.
Hong Kong Versus Singapore: Which City Is Best for Expats?
They'll both be death traps when the final economic crisis hits. -- RF

"Getting the right equipment is one thing -- whether it's canines or X-ray machines. Training people to support those is another," said Michael O'Neill, chief executive officer of MSA Security, which provides security, training and other services. "Then it's going to come down to costs. None of this stuff is cheap. And who is going to be responsible for that?"

## Fault lines/flashpoints/powder kegs/military/war drums ##
Tillerson urges negotiation to end Gulf crisis but Saudis say no
Trump is quickly learning how to toe the deep state's line. -- RF
Iraq declares end of caliphate after capture of Mosul mosque
Venezuela says Supreme Court attacked from helicopter
Filipinos May Face Jail for Not Singing National Anthem Enthusiastically
"The singing shall be mandatory and done with fervor."

## Energy/resources ##
OPEC, have no fear: The U.S. oil-shale output crash is here
$30 Oil Could Spark Contagion In Energy Markets
Air pollution casts shadow over solar energy production
Global solar energy production is taking a major hit due to air pollution and dust. The first study of its kind shows airborne particles and their accumulation on solar cells is cutting energy output by more than 25 percent in certain parts of the world. The regions hardest hit are also those investing the most in solar energy installations -- China, India and the Arabian Peninsula.
Can one junk energy source replace another junk energy source? -- RF
Trump's ignorance about energy is appalling, but he's in good company. -- RF
You don't say! -- RF

Lifespan lengthened in the 20th century no doubt because of the availability of cheap, plentiful energy made advances in health care possible. The recent fall in life expectancy likely reflects net energy decline. -- RF
"To this day Iran's clerical leaders portray the U.S. as a hostile foreign power bent on subverting and overthrowing its government," says the article, which sounds as though the clerical leaders are mistaken, but in fact the US is still openly intent on regime change in Iran. -- RF
Mossad launches fund to invest in firms developing spy tech
US House panel adopts language to end 2001 war authorization
Online hate speech may soon incur a hefty bill in Germany
[Mattis] offered no evidence other than the fact that an attack had not taken place.
NYT Finally Retracts Russia-gate Canard
A founding Russia-gate myth is that all 17 U.S. intelligence agencies agreed that Russia hacked into and distributed Democratic emails, a falsehood that The New York Times has belatedly retracted.
Rebellion At The NYTimes: Newsroom To Walk Out After "Decrying Direction Of Paper"

## Systemic breakdown/collapse/unsustainability ##
What Problems Are We Solving by Increasing Complexity?
The incremental increase in systemic complexity is rarely if ever recognized as a problem that additional complexity can't solve.
Frustration grows among Hong Kong's 'betrayed generation'
Sky-high living costs and dwindling freedoms fuel youth hostility toward Beijing

## US ##
This is what Warren Buffett thinks is the real problem with U.S. economy
Billionaire says mega-rich have been disproportionately rewarded
Welcome To The Third World, Part 24: Illinois About To Default?
What happens to the financial markets when people finally realize that Illinois is far from the only impending bankruptcy?

Tuesday, June 27, 2017


News Links, June 28, 2017

## Global Ponzi meltdown/House of Cards/global cooling/deflationary collapse ##
Great recession fears as bankers warn next global crash could arrive 'with a vengeance'
Remember, each successive "recession" is actually another leg down in the ongoing crash of the global economy. There will be no "recovery." -- RF
Globe editorial: Calgary, do you really want the Olympics? Again?
The International Olympic Committee's quadrennial showcases aren't what they used to be. As costs have exploded and concerns about the games behind the Games have grown, bids to host the Olympics have dried up.
Airbnb Just Made Itself Even More Unpopular in Barcelona
Organized criminals from Russia are subletting apartments to tourists, as locals struggle with soaring rents.

## Airline death spiral ##
Off-duty cop tackles airline passenger opening emergency exit

## Fault lines/flashpoints/powder kegs/military/war drums ##
Yuan the key to expansion of Sino-Russian economic ties
An inadvertent beneficiary of US/EU sanctions against Russia, China stands to gain more by working to deepen commercial ties with its neighbor
Pentagon, State Dept 'Clueless' on Trump's Assad Allegation
Last night, the White House issued a surprise statement accusing the Syrian government of preparing a chemical weapons attack and threatening to make them pay "a heavy price" for doing so. This immediately suggested another US attack on Syria was imminent. No one saw this coming, including the Pentagon and the State Department.
The good senator insists that the US should meddle in Iran's affairs, while at the same time the US accuses Russia of meddling in US affairs. This suggests that it's OK for the US to meddle in the affairs of other countries, but not OK for other countries to meddle in US affairs. No double standard here? -- RF
I Could Kill You with a Consumer Drone
As a former intelligence soldier who now sells drones for a living, I can tell you that this problem is bigger than almost  anyone realizes.
The Mica Children
They work in India's mines to supply the cosmetics and car paint industries. And sometimes they die.
California has too many humans. -- RF
Canada's oil sands, considered to be one of the most expensive projects to develop, especially in the current oil price environment, have seen international oil majors selling their assets to Canadian oil firms in large deals.
Trump's Red Line
President Donald Trump ignored important intelligence reports when he decided to attack Syria after he saw pictures of dying children.
Because the current practice in making accusations of collusion with the Russians or Russian hacking is to provide no evidence, Trump is only following suit by similarly providing no evidence. -- RF
The ingredients are in place for the United States to repeat a scenario that has cost us dearly in the past: the misuse of intelligence to muster public support for an unwise war.

## Propaganda/censorship/fake news/alternative facts ##
Three CNN Employees 'Resign' Over 'Russia Collusion' Fake News Retraction
Like the first chemical weapons attack that Assad didn't do? -- RF

## Systemic breakdown/collapse/unsustainability ##
Rage rises as people grapple with economic inequality
A recent series of incidents is raising a red flag about the rising tide of rage in South Korea, a country where some 51 million live under hyper-competition in all aspects of life, including education and housing.
Anno 2017, our overall 'net energy' is nowhere near where it was for the first 100 years or so after we started using oil. And there's no energy source that comes close to -conventional- oil (and gas) when it comes to what we are left with once our efforts are discounted, in calories or Joules.
How College Can Ruin Your Life
If We Don't Change the Way Money Is Created, Rising Inequality and Social Disorder Are Inevitable
Everyone who wants to reduce wealth and income inequality with more regulations and taxes is missing the key dynamic: central banks' monopoly on creating and issuing money widens wealth inequality, as those with access to newly issued money can always outbid the rest of us to buy the engines of wealth creation.
NYC Subway Train Derails, Scaring Passengers and Injuring 34
A subway train derailed Tuesday as it entered a station, tossing people to the floor, forcing hundreds of shaken-up passengers to evacuate through darkened tunnels and delivering another jolt to a transit system plagued by aging equipment and reliability problems.
Are Illinois & Puerto Rico Our Future?

## Japan ##
Japanese Banks at Risk as Dollar Borrowing Doubles, BIS Says
Russia offers Japan joint-venture proposal for Kurils
Japan power utilities firing up decades-high debt offerings
But any new political entity would have to completely sever ties with the deep-state agenda and its Republicrat agents, otherwise it would be immediately co-opted and compromised, thereby leaving the current China-style one-party system intact. -- RF 
It's not surprising that the image of the US would worsen under Trump, but it is surprising that it didn't worsen more under previous presidents, who were also awful. -- RF

Sunday, June 25, 2017


News Links, June 26, 2017

## Global Ponzi meltdown/House of Cards/global cooling/deflationary collapse ##
Jim Rickards Exclusive: Dollar May Become "Local Currency of the U.S." Only
Why The Next Recession Will Morph into a Decades Long Depressionary Event...Or Worse
However, I disagree that population is the fundamental driving force. Population is a function of available resources and energy (and government policy). Underlying the coming "decades-long depressionary event" is net energy decline, during which humanity will perforce adapt itself to progressively less energy, ultimately returning us to an 18th-century lifestyle. -- RF
9.5 Trillion Reasons Gold and Silver Are Looking More Lustrous Than Ever
Don't look now, but negative-yielding sovereign debt is climbing once again.
Contagion from the 2 Friday-Night Bank Collapses in Italy?
This is how desperate the Italian Banking Crisis has become.
Italy winds up Veneto banks at cost of up to 17 billion euros
Two Italian Banks Fail: Bail-In Rules Changed to Protect ECB and Political Class from Losses?
It's going to end 'extremely badly,' with stocks set to plummet 40% or more, warns Marc 'Dr. Doom' Faber
The Economy Is Suffocating, Major Adjustment Period Coming
Push on with the 'great unwinding', BIS tells central banks
"It'll Be An Avalanche": Hedge Fund CIO Sets The Day When The Next Crash Begins
You Know It's Bad When... Prices For Used Jets Are Cratering

## Cut, baby, cut! ##
RBS to cut 443 jobs in UK, move many of them to India

## War on cash/cashless society ##
Understanding The Cryptocurrency Boom — A ground-level assessment
"It's A Virtual Bloodbath" - Cryptocurrency Carnage Continues

## Airline death spiral ##
Etihad Wants You to Pay For Its Empty Seats
China's Airport Plan — a Pie in the Sky?
Over the next three years, local authorities in China are planning to build more than 900 airports for general aviation — the segment of the industry that includes crop dusting and tourism. The figure is nearly double the central government's goal of "more than 500" over the period.

## Fault lines/flashpoints/powder kegs/military/war drums ##
Qatar says demands made by four Arab states not 'realistic'
Turkey's Erdogan backs Qatar, says calls to shut base 'disrespectful'

## Energy/resources ##
IEA Official: Nuclear Must Remain In The Mix To Meet Global Carbon Goals
Considering the global nuclear catastrophe awaiting us when nuclear power plants and their spent fuel pools lose grid power — which will happen, one way or another — global warming seems the preferable fate. IEA officials are working from the untenable assumption that nuclear power plants will always have offsite power. -- RF

## Got food? ##
Dusty Fields Signal a Peak for the Global Wheat Glut
Dry, hot weather from the U.S. to Europe is taking its toll on crops, and the U.S. government is forecasting global output will fall for the first time in five seasons.
Kansas jury awards $218M to farmers in Syngenta GMO suit

## Environment/health ##
Bees, Butterflies and Wildlife: Research on Electromagnetic Fields and the Environment
Electromagnetic fields from powerlines, cell phones, cell towers and wireless impacts the birds, bees, wildlife and our environment.
It's the injection of fracking wastewater deep underground. -- RF
The author presents the case that the real threat to democracy is not coming from Russia, it is coming from our own political system and the forces which benefit from and which promote war and aggression. Former President Jimmy Carter has said the U.S. is an "oligarchy with unlimited political bribery."
Flimsy Evidence and Fringe Sources Land People on Secretive Banking Watchlist

## Propaganda/censorship/fake news/alternative facts ##
Policing 'Truth' to Restore 'Trust'
The U.S. mainstream media insists it just wants "truth" algorithms to purge "fake news" from the Internet, but the real goal seems to be restoring public "trust" by limiting what the people get to see.

## Japan ##
Japan's government bond market grinding to a halt
Yields on newly issued 10-year Japanese government bonds remained flat for seven straight sessions through Friday as the Bank of Japan continued its efforts to keep long-term interest rates around zero.
A disgusting postscript to the Philando Castile story. -- RF

Saturday, June 24, 2017


News Links, June 24, 2017

## Global Ponzi meltdown/House of Cards/global cooling/deflationary collapse ##
EU Political Class Rides Roughshod over Citizens' Concerns & Frustrations as it Pushes Integration
Fitch: Global Ports Sector Faces Structurally Slower Growth
Traffic growth in the ports sector is likely to remain well below historical levels for the foreseeable future, due to fundamental structural changes in the industry and global trade, Fitch Ratings says.

## Airline death spiral ##
Flying may be slowly killing you
A new study says the contaminated air on planes can result in health problems

## Fault lines/flashpoints/powder kegs/military/war drums ##
Secret Yemen Prisons Of UAE Sexually Assaulted And Tortured Inmates With Fire, Captives Say

## Energy/resources ##
The quest for 100% renewables – can curtailment replace storage?
Can storage requirements be reduced to manageable levels by producing more renewable energy than is needed to fill demand and curtailing the surpluses? The answer is no.
Underperforming Energy Sector May Soon See M&A Wave
China's State Grid Buys Stake in Greek National Power Operator

## Propaganda/censorship/fake news/alternative facts ##
Smoking Gun Proof that Russia Hacked the Entire World
A tongue-in-cheek look at the "evidence." -- RF
The absurd hysteria over Russia continues today from yours and my favorite Russia-hysteria promotion site: the Washington Post.
Turkey to stop teaching evolution in secondary schools as part of new national curriculum
Education official says students too young to understand 'controversial subject'

## Systemic breakdown/collapse/unsustainability ##
The Over-Criminalization of American Life

## China ##
Torn between options, what can China do to rein in North Korea?
Any punitive measures by Beijing against companies allegedly ­supporting North Korea would be carefully calibrated – to push Pyongyang to stop its nuclear tests but avoid being seen as giving in to US pressure, analysts say.

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