Thursday 12 June 2014

Headlines

## Global Ponzi meltdown/House of Cards ##
The federal government has bagged an unprecedented $360 million from household bank accounts since a controversial change to unclaimed money laws, figures from the Australian Securities and Investments Commission show. Pensioners and others saving for a rainy day have reported trying to access their savings only to discover their money had been seized by the government because it had been dormant for three years or more.
Safaris have come a long way since the days of canvas tents, water flasks and bumpy jeep rides. For the super rich, safaris now include private-jet hops, chef-cooked meals, two-bedroom tents with shows and toilets, balloon rides and endless champagne.

## Airline Death Spiral ##

## Fault lines/flashpoints/powder kegs/military/war drums ##
Israeli Economy Minister Naftali Bennett defended his proposal to annex West Bank territory as “the only sane plan,” even as it threatened to tear apart the government.
Witnesses’ accounts from Iraq said insurgents belonging to the Islamic State of Iraq and Syria had taken control of military bases, government offices and television stations and had released thousands of prisoners from local jails.

## Global unrest/mob rule/angry people/torches and pitchforks ##
London mayor justifies the speed of the £218,000 purchase by saying the machines are needed in case of disorder this summer

## Energy/resources ##
The strains on labor capacity in oil and gas construction markets worldwide are becoming increasingly well known. These strains continue to affect forecasted project costs, and several large capital projects have already been delayed or canceled.
Delhi's government is cutting power to shopping malls, switching off street lights and turning off air conditioning in government offices, after the highest temperatures in 62 years forced the city to take emergency measures to conserve power.
Fuel shortage, especially of petrol, was experienced in the Indian Oil Corporation (IOC) pumps in the state on Monday. Majority of the 1,300 IOC pumps in the state are said to be running short of stock.
The Canadian Association of Petroleum Producers said 2014 estimates for oil production to 2030 are down more than 7 percent from the previous year.

## Infrastructure scavenging ##
Durban is facing a water crisis because a major pipeline collapsed into the uMngeni River on Monday after cable thieves stole its supports.

## Got food? ##
Research has shown that wooden cutting boards are cleaner than their plastic counterparts. -- RF
Pesticide use is surging among U.S. corn farmers who are worried that some insects have become resistant to genetically modified versions of the crop. That’s an unexpected reversal. One of the promises of engineered corn when it was introduced 17 years ago was that its ability to kill pests would reduce the need for soil insecticides.
They're not always optimistic about the future of Camden, N.J. But they're committed to it anyway, and they've created one of the nation's fastest growing networks of urban farms.

## Lifestyle Solutions ##
Learn more about this growing U.S. movement to achieve financial freedom and create a smaller ecological footprint.

## Environment/health ##

## Intelligence/propaganda/security/internet/cyberwar ##
Sounds great... except that it assumes everyone will have computers or access to them, that the internet will exist (no one will steal cables or sabotage the system), and that there will always be electricity to run everything. In light of growing systemic failure everywhere, I'm not betting on this. It makes more sense to prepare for life in a neo-feudalistic world ruled by super-rich aristocrats and brutal warlords. -- RF
In a new survey of more than 1,500 U.S. adults, Fox News was the most trusted television news source “to provide accurate information about politics and current events.”

## Systemic breakdown/collapse/unsustainability ##
Hospitals across the country are struggling to deal with a shortage of one of their essential medical supplies. Manufacturers are rationing saline — a product used all over the hospital to clean wounds, mix medications or treat dehydration. Now drug companies say they won’t be able to catch up with demand until next year.

## Japan ##
Financially speaking, Japan is fast becoming a Keynesian dystopia. Its entire economy is now hostage to a fiscal time bomb. Namely, government debt which already exceeds 240% of GDP and which is growing rapidly because even the recent traumatic increase in the sales tax from 5% to 8% does not come close to filling the fiscal gap.
This is incredibly short-sighted, but you can expect governments to make wrong-headed choices like this. -- RF
In view of Japan's severe overpopulation, the government should levy fines for third and subsequent children. -- RF

## China ##
Amid ongoing central government curbs, China’s property market is cooling off dramatically despite the onset of the sector’s traditionally “hot season,” as both land sales and transaction values plunged in May across 300 major Chinese cities.

## UK ##
National Grid to begin recruiting businesses who will be paid to switch off if needed to protect consumer supplies as a "last resort"

## US ##
Four in 10 millennials are overwhelmed by debt, with almost half spending at least 50 percent of their monthly paycheck paying off debt, a new study by Wells Fargo found. More than half—56 percent—reported living paycheck to paycheck.
For two consecutive quarters, state income tax revenues have disappointed. And in the first quarter of 2014, state income tax revenue actually declined.
“At least they’re doing something – they are more productive than the politicians,” Paul said. “They’re not going to hurt anybody. They are just going to eat all the grass and the weeds and the garbage.” 
It's just the setup for the next crash. -- RF

And finally...

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