Posts
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Global Ponzi meltdown/House of Cards ##
Cementos
Portland Valderrivas SA (CPL), whose Madrid plant once rumbled
under the weight of cement being transported to build Spain’s
biggest projects, doesn’t have the cash for a 50 million-euro
($68 million) loan payment due June 30.
Debt
in some of Puerto Rico's biggest public corporations slumped in
heavy trade on Friday after a new law allowing them to
restructure their debt sparked ratings downgrades and fears of
imminent default.
Andrey
Luganskiy, Russia's trade representative in Tehran, said the
exports would allow Iran to acquire Russian currency, which
it can then use to buy goods that it is unable to import from
the West.
Switzerland
touted its qualifications to be a hub of renminbi trading on
Friday, as its central bank chief and finance minister
hosted People's Bank of China (PBOC) Governor Zhou Xiaochuan at
a private event for Swiss and Chinese bankers.
The
crisis of capitalism isn't just about the gap between rich and
poor. It's about the gap between what’s demanded by our planet
and what’s demanded by our economy.
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Airline Death Spiral ##
The
board of Thai Airways International Pcl has appointed Air Chief
Marshal Siwakiat Jayema as acting president from July 1 as
the country's military rulers reshuffle and restructure the
loss-making carrier hit by months of political unrest.
A
transport ministry panel on Friday started discussing whether
to raise the upper age limit for pilots, currently at 64,
to deal with pilot shortages on the back of increasing air
transport demand, especially in Asia.
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Iraq ##
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Fault lines/flashpoints/powder kegs/military/war drums ##
The
Syrian rebels that the U.S. now wants to support are in poor shape,
on the retreat from the radical al-Qaida breakaway group that
has swept over large parts of Iraq and Syria, with some
rebels giving up the fight. It is not clear whether the new
U.S. promise to arm them will make a difference.
The
Russian Air Force is upgrading its long-range aircraft, making
the decades-old planes more lethal amid increasing
encounters near US airspace, a top US general responsible
for defending the American and Canadian airspace said.
Indications
Its Kiev Regime Is Crumbling. Blowback to America Could Be
Substantial.
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Global unrest/mob rule/angry people/torches and pitchforks ##
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Energy/resources ##
The
news media continue to chant that “peak oil is dead” and see
the U.S. shale oil miracle as a sustainable turn of events, not
a term-limited booster. But listen to a few analysts who
worry about what the slowdown in investments by oil super-majors
portends, and question why many shale oil and gas companies
can’t turn a profit during this incredible drilling and
production boom. Watch what’s happening to oil
production outside of North America. Note the struggles to boost
production from Brazil’s presalts. Reflect on
internal struggles in Syria, the Sudans, Venezuela and Nigeria
and how those drag down oil production and quality of
life. Follow violent events in the Middle East.
Power
utilities are increasingly worried that their aging thermal
power plants will start developing problems in the
summer, when electricity demand is at its peak, as they
attempt to offset the loss of nuclear power caused by the
Fukushima disaster.
Total
capital expenditures (CAPEX) for the top 50 oil and gas companies
declined 7 percent to $173.5 billion in 2013 from $186.0 billion
in 2012, as companies shifted spending towards development and away
from unproved property acquisition and exploration activity.
In
5 years, when the Bakken and Permian plays are quickly eroding
on their way to being spent, we’ll wonder why we chose to
send overseas a domestic resource that could have lasted a
generation or more powering US businesses and again become a
dependent consumer of overseas oil supplies.
Annual
bill for consumers to subsidise renewable technologies has soared
to more than £2.5bn as more plants are built and the cost for
each unit of electricity rises
But
due to factors such as cost and fossil fuel dependence, they will
never keep industrial civilization running at this scale. -- RF
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Got food? ##
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Lifestyle Solutions ##
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Environment/health ##
Scientists
have voiced concerns over the seeming irresistible rise of
super rats, which are becoming increasingly resistant to
most poisons
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Intelligence/propaganda/security/internet/cyberwar ##
Germany announced
Thursday it is canceling its contract with
Verizon Communications over concerns about the role of U.S.
telecom corporations in National Security Agency spying.
These days,
being “on the clock” means more than just punching a time
card. New apps and gadgets are making it possible for
companies to track everything from the location to the
conversations of their employees.
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Systemic breakdown/collapse/unsustainability ##
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Japan ##
Consumer
prices climbed in May at their fastest pace in 32 years, swelled
by the hike in the consumption tax and higher utility charges
that are squeezing Japanese budgets as wage gains remain limited.
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China ##
China
will boost gun training for police in Beijing, a senior security
official said, as it braces for what it calls an upsurge in
militant violence around the country.
The
Asian Infrastructure Investment Bank (AIIB) will extend China’s
financial reach and compete not only with the World Bank, but
also with the Asian Development Bank, which is heavily dominated
by Japan.
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UK ##
British
Geological Survey report to map out potential fracking targets
in Scotland's central belt but industry predicts resource will
not be a game-changer
Councils
facing a funding gap of £5.8bn to March 2016, which could put
services like libraries and leisure centres under threat
##
US ##
During
the first quarter, 3.7 million credit cards were issued to
subprime borrowers, up a head-scratching 39% from a year earlier,
and the most since 2008. A third of all cards issued were subprime,
also the most since 2008, according to Equifax.
Over
the past few decades, a growing trend has become the folding of
rural school districts due to shrinking state funding and desire
for efficiency.
Operators of
Special Weapons and Tactics (SWAT) teams comprised of
tax payer-funded police and sheriffs in Massachusetts claim they
are immune to public records requests about deadly force,
incident reports, and more because they are private
"corporations."
According
to a Gallup poll released Friday, 22 percent of those
polled favor increased immigration, while 33 percent would like
to see it remain at the present level and a plurality, 41
percent and nearly double the amount of those who favor
increased immigration, believe it should be decreased.
And
finally...
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