Posts
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Global Ponzi meltdown/House of Cards ##
In
a mad scramble, dealers are stuffing people with bad credit into
cars they can’t afford, and finance companies are eager
to lend to them. Loan-to-value ratios now average over 100%
across the industry.
All
these acquisitions share one thing in common: the promise
of “efficiencies and synergies.” Hence, layoffs. With
each announcement of axing thousands of people –
thousands are definitely better than hundreds – the stock
price goes up.
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Airline Death Spiral ##
Washington
bans American carriers from flying less than 30,000 feet above Iraq,
while European Aviation Safety Agency urges European airlines
to follow suit
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Fault lines/flashpoints/powder kegs/military/war drums ##
Islamic
State Sunni insurgents have captured the northern Iraqi town of
Zumar and a nearby oil field after a battle with Kurdish
forces who had control of the area, witnesses said on Sunday.
The
Philippines plans to put its territorial conflict with China on
the agenda at an upcoming meeting of Southeast Asian
nations, aiming to gain international support for measures to put the
brakes on Beijing's ambitions.
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Global unrest/mob rule/angry people/torches and pitchforks ##
##
Energy/resources ##
Conventional
electricity generation is the largest source of water use in
most countries. Water is used to cool power plants to keep
them functional. Most power utilities don’t even record the
amount of water they use.
For
the first time ever, the average price for a kilowatthour (KWH) of
electricity in the United States has broken through the 14-cent
mark, climbing to a record 14.3 cents in June, according to data
released last week by the Bureau of Labor Statistics.
Blackout:
Prolonged power outages continue (Pakistan)
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Infrastructure scavenging ##
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Got food? ##
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Environment/health ##
Superbugs known
as CRE — called "nightmare bacteria" by federal health
officials because they are deadly and virtually untreatable
— are skyrocketing in the Southeastern USA, new research
shows. Experts fear a growing national problem, and some
say the spread of such superbugs may portend a "post-antibiotic
era."
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Intelligence/propaganda/security/internet/cyberwar ##
Hundreds
of thousands of viewers in the eastern Chinese city of Wenzhou
have their Friday night viewing disrupted with images of
tortured prisoners after hackers take over cable television
channel
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Systemic breakdown/collapse/unsustainability ##
Ignition
switch problems that have plagued General Motors and Chrysler have
now turned up in the motorcycle business. Harley-Davidson is
recalling more than 4,500 FXDL Dyna Low Rider bikes worldwide
because engine vibration can turn the switches from "on"
to "accessory."
##
Japan ##
I
told you so I told you so I told you so. Already cracks are appearing
in the facade, and work hasn't even started yet. Of
course
there will never be enough money. What's more, the government won't
be co-financing this boondoggle because it's flat broke and its
fiscal situation will only continue to worsen with time. Long-time
readers know I have stated repeatedly and unequivocally that although
construction might start, the project will be abandoned due to the
inevitable ballooning costs and deteriorating economy. -- RF
The
Yomiuri ShimbunThe cost of maintaining or replacing aging water
supply equipment will reach about ¥1 trillion annually by
the 2020-2025 period, resulting in hikes in water charges,
according to a government white paper.
The
government will review fixed property tax breaks for housing
land to reduce abandoned houses that are rapidly increasing
in number across the country due to the shrinking population,
informed sources said.
Osaka
police have admitted they did not report more than 81,000 offenses
over a period of several years in a desperate bid to clean
up the region’s woeful reputation for street crime.
##
China ##
China
Construction Bank, China's (and the world's) 2nd largest of the
Big Four, and intimately connected to the CCFD ponzis, has
suspended all ATM, online, and mobile banking operations -
without warning - due to a "system issue."
A
number of small developers - the kind that by sheer weight of
numbers dominate China's vast property sector - are set to
report big drops in earnings or even losses as the industry
grapples with tight credit, sluggish sales and excess
supply.
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UK ##
Whistleblowers
who risk their careers to uncover wrongdoing within public
services are being victimised by managers who nearly always
escape sanction, a public accounts committee report will say
on Friday.
The
report from Civitas found that large-scale immigration will have
a negative effect on standards of living as any economic
benefits will be outweighed by pressures
Convoys
carrying nuclear bombs and hazardous radioactive materials by road
through Scotland and across the UK have suffered 70 safety
lapses in five-and-half-years, according to the Ministry of
Defence.
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US ##
It's
the best democracy money can buy! -- RF
And
finally...
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