Thursday, October 26, 2017


News Links, October 27, 2017

## Global Ponzi meltdown/House of Cards/global cooling/deflationary collapse ##
China's Silk Road Cuts Through Some of the World's Most Corrupt Countries
60% of Belt and Road nations have junk status or not rated
The EU Just Did the Big Banks a Massive Favor
The European Union's executive arm, the European Commission, made a lot of bank executives very happy this Tuesday by abandoning its multi-year pledge to break-up too-big-to-fail lenders.
Worldwide Debt More Than Triple Economic Output as Central Bank Shift Looms
Worldwide debt has risen to a record $226 trillion (£170.4 trillion) - more than three times global annual economic output - and firms in more countries are struggling to service loans, a study shows, just as key central banks prepare to end super-cheap credit policies.

## Cut, baby, cut! ##
Sainsbury's ups supermarket stakes with 2,000 job cut strategy
As part of a £500 million cost-cutting plan, supermarket giant Sainsbury's has announced that it will give 2,000 staff their marching orders.
Wells Fargo Layoffs in 2017: 762 Job Cuts So Far, Wells Fargo Call Center Hit the Hardest
Why Nokia Is Cutting Jobs in France
AAPA: Extra security costs are high
New extra security rules that the US and some other countries are imposing on all inbound foreign flights are causing significant hassle for passengers, airlines and airports and are costly to implement.
U.S. Deepwater Offshore Oil Industry Trainwreck Approaching
The U.S. Deepwater Offshore Oil Industry is a trainwreck in the making.  The low oil price continues to sack an industry which was booming just a few short years ago.  The days of spending billions of dollars to find and produce some of the most technically challenging deep-water oil deposits may be coming to an end sooner then the market realizes.
Massive Graphite Shortage Looms over Electric Car Future
Spot prices for graphite electrodes have spiked over 300 percent since January, hitting up to a whopping $35,000 per tonne as graphite supplies dry up for a metal that is of crucial importance to the lithium batteries that form the backbone of the electric car boom.
100% renewables: 'wishful thinking' or an imperative goal?
The myth of a nuclear-free Austria
Fuel Crisis Exposes Kazakhstan's Energy Contradictions
For the past month, lack of gasoline, price increases, and public discontent highlighted Kazakhstan's infrastructural and institutional impasse.
The oil majors are reaping the benefits of deep cost cuts, but they're still not doing quite enough. The target: being able to fully fund dividends and investments at $40, or even $30 a barrel, according to BP Plc Chief Executive Officer Bob Dudley.
So, still more cost cutting is needed. But as we've seen, spending on exploration and development has already fallen far below the reserve replacement rate. The promise of further spending cuts doesn't sound very encouraging. -- RF
ConocoPhillips' Profit Beats Estimates, But Budget Cut 10%
ConocoPhillips, the largest U.S. independent oil producer, reported a better-than-expected quarterly profit on Thursday, helped by rising crude prices, although it slashed its capital budget by 10 percent to further cut costs.
BNEF shines light on China's solar curtailment problem
Approximately 56.2 TWh of solar and wind generation was curtailed in China last year, underscoring how excessive investment and an oversupply of electricity pose an ongoing threat to renewables development, according to newly released research.
As Lithium Booms, Some Analysts Sound Note Of Caution

## Got food? ##
Agriculture sector expects job-loss bloodbath, with 50,000 possibly out of work (South Africa)
The Western Cape's drought is not only expected to see enormous job losses — with an expected R40m loss in wages — but a rise in prices for some fruit and veg too

## Intelligence/security/internet/cyberwar ##
What Did Hillary Clinton Know?
With the disclosure that Hillary Clinton's campaign helped pay for the original Russia-gate allegations against Donald Trump, a new question arises: what did Clinton know and when did she know it?
NYT Laments 'Forever Wars' Its Editorials Helped Create
Corporate media have a long history of lamenting wars they themselves helped sell the American public, but it's rare so many wars and so much hypocrisy are distilled into one editorial.
NYT's Assault on Press Freedom
The New York Times, which once postured as the champion of a free press, now is seeking crackdowns on news that the public gets from the Internet under the guise of combatting "Russian propaganda."
Getting the Left to Embrace US 'Exceptionalism'
Neocons have deftly used the Left's hatred of President Trump and the demonizing of Russia to lure liberals and progressives into an interventionist mindset to defend "American exceptionalism."
Pentagon will be hard-pressed to keep fighter flying, GAO says
This is a textbook example of declining marginal return and the cost of complexity, which are factors which bring down societies and civilizations. Each incremental technological advance requires greater inputs, thus the colossal expense. And the final product is so complex that it's a challenge just to make it work. -- RF
Japan's Shoko Chukin owns up to rampant doctoring of loan documents
Chief of state-backed lender to step down, staff faces punishment
Abe to tell CEOs of his 'wish' to see 3% wage increase
Fifth year in a row that prime minister has asked business leaders for salary help
Bill to restrain warrantless searches of Americans introduced to Senate, House
Bipartisan groups in the Senate and House of Representatives introduced legislation Tuesday that seeks to restrain government agencies' surveillance powers on American citizens.
Rising Rents Are Pushing More Tenants Past the Breaking Point
Rents have increased rapidly across U.S. housing markets as the share of renting households has risen faster than the number of new units. Now, in a survey published Thursday by an apartment-listing service, nearly one in five respondents reports struggling to make the monthly payments.

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