Friday 19 September 2014

Headlines

## Global Ponzi meltdown/House of Cards ##
Nearly a third of some 350,000 workers in Malaysia's electronics industry - a crucial link in the international consumer supply chain - suffer from conditions of modern-day slavery such as debt bondage, according to a study funded by the U.S. Department of Labor.
In the past five years, the firm that took the largest U.S. bank bailout of the financial crisis increased the total amount of derivatives on its books by 69 percent, surpassing most U.S. peers and closing the gap with the market leader, JPMorgan Chase & Co. (JPM) At the end of June, Citigroup had $62 trillion of open contracts, up from $37 trillion in June 2009, company filings show. JPMorgan trimmed its holdings 14 percent to $68 trillion.
High-cost Australian miners are battling for survival as plunging iron ore prices push many to breaking point, with analysts seeing no significant short-term recovery as Chinese demand for steel wanes in line with sliding property prices.

## Airline Death Spiral ##

## Fault lines/flashpoints/powder kegs/military/war drums ##
The Obama administration, working through the Russian government, has secured an agreement from the Syrian regime of Bashar al-Assad to permit U.S. airstrikes against Islamic State targets in parts of Syria, according to a source briefed on the secret arrangements.
Economies will inevitably shrink as energy and other resources become more expensive, and in an energy-constrained world, small political/economic units make much more sense. Also watch for more secessionist talk in the US. -- RF

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

## Energy/resources ##
3Legs Resources, a company exploring the shale natural gas potential in Poland, said Wednesday it was giving up because of a lack of commercial prospects.
Belgium could keep two of the country's oldest nuclear reactors running for up to 10 years longer than planned if other plants remain offline because of safety shutdowns, two sources close to government coalition talks said.
A lack of water threatens Iraq's plans to raise its oil output, boost its stumbling economy and become a leading producer in the region after Saudi Arabia.
Members of the European Parliament passed a resolution Thursday calling for the cancellation of contracts for Russia's planned South Stream gas pipeline.
Just imagine the astronomical costs involved. It's going to be some very pricey oil. -- RF

## Got food? ##
The price of a burger or steak is the highest it has ever been and prices could continue to skyrocket.

## Environment/health ##
Public health experts have set up port controls to detect mosquitoes entering the country from France that it is feared could be carrying deadly dengue fever

## Intelligence/propaganda/security/internet/cyberwar ##
Hackers associated with the Chinese government have repeatedly breached the computer systems of U.S. companies, including airlines and technology firms, that are involved in the movement of U.S. troops and military equipment, a U.S. Senate panel has found.
Maybe, unless the blackouts come first. -- RF
In its latest software update, the company is prevented from accessing any information about users that may be requested by authorities. A feature that won't change even if a search warrant is issued.
After registering slightly higher trust last year, Americans' confidence in the media's ability to report "the news fully, accurately, and fairly" has returned to its previous all-time low of 40%. Americans' trust in mass media has generally been edging downward from higher levels in the late 1990s and the early 2000s.
DO NOT run, perspire, or wave your arms! -- RF

## Systemic breakdown/collapse/unsustainability ##

## Japan ##
A new airport started operating on Etorofu Island — one of four Russian-held, Japanese-claimed islands off Hokkaido — as a special plane carrying Russian officials arrived Wednesday, Russian residents said.

## China ##
It won't help. HK will collapse, anyway. -- RF

## UK ##
According to the Health and Safety Executive, 64 explosions have been reported so far in 2014 compared to 51 for the whole of last year. There were 32 cases in 2012, thus indicating a steady rise over the past few years.

## US ##

And finally...
"Things were said that can never be taken back," says one witness; the paper reports that family members were yelling of their hatred for each other.

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