Wednesday, 10 September 2014

Headlines

With returns on government bonds at rock-bottom prices, sovereign wealth funds are muscling into stock markets and other higher-yielding assets like real estate at a rate that private investors warn could destabilize the world economy.
The world is facing a global jobs crisis that is hurting the chances of reigniting economic growth and there is no magic bullet to solve the problem, the World Bank warned on Tuesday.
Australia’s biggest companies are giving up on growth. Investment by businesses in the benchmark stock index will probably slip below rising dividend payouts within two years, according to data compiled by Bloomberg.
The crash of Dubai will be as spectacular as its current glitz. -- RF
"Perhaps businesses do need people who have the same characteristics as psychopaths, such as ruthlessness."

## Airline Death Spiral ##
American airports, both large and small, have suffered major cuts in service ranging from 10 percent to nearly 81 percent as airlines have been forced to cancel flights in part due to the growing pilot shortage.
AirAsia Group CEO Tony Fernandes told The Asahi Shimbun in an interview here Sept. 8 that he is giving the matter serious consideration, given its potential to relieve a pilot shortage that plagues low-cost carriers in Japan and elsewhere in Asia.
It's time to get used to packed-in people movers.
A lot has been written about Qantas’ FY 2014 losses of AU$2.8 bn but no analysis was done by the main stream media how the timeline of  these losses are connected to the peaking of global crude oil production.

## Fault lines/flashpoints/powder kegs/military/war drums ##
With 1.5 million people a week migrating to cities -- mostly in the developing world -- the new battlefields will be slum-ridden yet wired megalopolises such as Lagos and Mumbai, where insurgents and crime bosses can exploit technology to control lawless rings of territory.

## Global unrest/mob rule/angry people/torches and pitchforks ##

## Energy/resources ##
Companies are paying a steep price for the gains. Like Halcon, most are spending money faster than they make it, an average of $1.17 for every dollar earned in the 12 months ended on June 30. Only seven of the U.S.-listed firms in Bloomberg Intelligence’s E&P index made more money in that time than it cost them to keep drilling... These companies are plugging cash shortfalls with junk-rated debt. They owed $190.2 billion at the end of June, up from $140.2 billion at the end of 2011.
Iranian natural gas is reaching an Iraqi power plant though a now-completed cross-border pipeline, an Iraqi official said.
Acute shortage of coal supply from the Singareni Collieries Company Limited forced a second 200 MW unit to stop production on Tuesday.
This year, a bumper corn crop has farmers wondering if they’ll have enough propane to power their grain dryers.

## Got food? ##
Agriculture producer confidence in the U.S. has fallen to its lowest level in four years, according to a survey released Monday.  
Milk futures rose to a record as exports by the U.S. climbed amid shrinking inventories of cheese and butter, signaling higher costs for pizza and pastries.

## Environment/health ##

## Intelligence/propaganda/security/internet/cyberwar ##
The U.S. government is paying private contractors billions of dollars to support secretive military units with drones, surveillance technology, and “psychological operations,” according to new research.
The Western world's central military alliance last week took a hard line against cyberwarfare, saying that a cyberattack against  any one of its members could draw a military response from the whole group. But experts say such a retaliation is easier for the North Atlantic Treaty Organization to talk about than to actually pull off.

## Systemic breakdown/collapse/unsustainability ##

## Japan ##
Two newly-promoted Japanese politicians moved Monday to distance themselves from allegations of extremism after pictures emerged of them posing alongside the leader of a domestic neo-Nazi party.

## China ##

## UK ##

## US ##
Muni bonds fund the nation’s critical infrastructure, and they are subject to the whims of the market: as demand goes down, interest rates must be raised to attract buyers. State and local governments could find themselves in the position of cash-strapped Eurozone states, subject to crippling interest rates.
If you like living beyond your means, you can keep on living beyind your means. US Consumer credit grew by over $26 billion in July - smashing expectations of $17.35bn - and rising by the most since 2011. As usual, the leap was led by non-revolving credit (rising $20.6 billion) as auto and student loans continue to surge.
Forty years ago many Americans celebrated the demise of the imperial presidency with the resignation of Richard Nixon. Today it is clear they celebrated too soon. Nixon’s view of presidential powers, summed up in his infamous statement that, “when the president does it that means it is not illegal,” is embraced by the majority of the political class. In fact, the last two presidents have abused their power in ways that would have made Nixon blush.
The cost of educational books has soared by 150 percent since 2000 while the cost of recreational books has fallen.



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