Another Month, Another Global Heat Record Broken
Earth is on pace to tie or even break the mark for the hottest year on record, federal meteorologists say. That's because global heat records have kept falling in 2014, with September the latest example.
The National Oceanic and Atmospheric Administration announced Monday that last month the globe averaged 60.3 degrees Fahrenheit (15.72 degrees Celsius). That was the hottest September in 135 years of record keeping.
It was the fourth monthly record set this year, along with May, June and August. ... Read more
Tornadoes Increasingly Coming In Swarms In United States, Study Says
Tornadoes in the United States are increasingly coming in swarms rather than as isolated twisters, according to a study by U.S. government meteorologists published on Thursday that illustrates another trend toward extreme weather emerging in recent years.
Looking at tornado activity over the past six decades, the study in the journal Science found the total number of tornadoes annually remaining rather steady, averaging 495. Since the 1970s, there have been fewer days with tornadoes but plenty more days with many of them, sometimes dozens or more.
On the list of the 10 single days with the most tornadoes since 1954, eight have occurred since 1999, including five since 2011. That year alone had days with 115, 73, 53 and 52 twisters. ... Read more
California Drought Worsened By Climate Change, Scientists Say
California's catastrophic drought has most likely been made worse by man-made climate change, according to a report released Monday by Stanford University, but scientists are still hesitant to fully blame the lack of rain on climate change.
The research, published in the Bulletin of the American Meteorological Society as part of a collection of reports on extreme weather events in 2013, is one of the most comprehensive studies linking climate change and California's ongoing drought, which has caused billions of dollars in economic damage. ... Read more
"Anti-Petrodollar" CEO Of French Energy Giant Total Dies In Freak Plane Crash In Moscow
Three months ago, the CEO of Total, Christophe de Margerie, dared utter the phrase heard around the petrodollar world, "There is no reason to pay for oil in dollars," as we noted here. Today, RT reports the dreadful news that he was killed in a business jet crash at Vnukovo Airport in Moscow after the aircraft hit a snow-plough on take-off. The airport issued a statement confirming "a criminal investigation has been opened into the violation of safety regulations," adding that along with 3 crewmembers on the plane, the snow-plough driver was also killed. ... Read more
Europe Demands Banks Hand Over Their Lunch Money Following Swiss Franc Libor Rigging
Having confirmed that RBS, UBS, JPMorgan,,and Credit Suisse operated a cartell to manipulate bid-ask spreads of Swiss Franc libor, the European Commission has unleashed unmerciless vengeance on these law-breaking institutions:
JPMorgan fined EUR 72.2 Million, UBS fined EUR 12.7 Million, Credit Suisse fined EUR 9.17 Million, & RBS Nothing (for whistle-blowing).
The commission found that these four entities 'influenced' interest rate derivatives prices between March 2008 and July 2009 - probably the most volatile and price-sensitive period of American financial history.. and they get fined "an hour's pay?" Nothing ever changes... Read moreClick to zoom - for bigger image
DemocracyNow - http://www.democracynow.org/Democracy Now! U.S. and World News Headlines for Tuesday, October 21 [13:26] *DN | After Ignoring ISIS Assault on Kobani, U.S. Launches Major Strikes & Arms Turkey's Kurdish Foes (10/21/14) [15:06]
*DN | Former U.N. Special Rapporteur Richard Falk on the Legitimacy of Hope in the Palestinian Struggle (10/21/14) [16:19]
John OliverHBO | Last Week Tonight with John Oliver: Translators (10/19/14) [16:06]
HBO | Last Week Tonight with John Oliver: Supreme Court (10/19/14) [5:39]
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TRNN | Kurt Lambeck, Professor of Geophysics: Study Finds Sea Levels Rising at an Unprecedented Rate (10/20/14) [10:44]
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*TYT | White Privilege Even Applies To Riots - The Proof Is In The Pumpkins (10/20/14) [9:45]
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TYT | Chuck Todd Asks A Question Even A Journalist Would Ask (10/20/14) [3:12]
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TYT | Study Proves 70% Of Art Sold Are Fakes (10/19/14) [6:50]
Living The Grecovery Dream: Two Jobless Parents, Two Kids, One Cat All Living In A Car
This is an article of a Greek Family that is living in their car. But, it reminds us that it could be anyone of us if we suddenly have an life changing crisis. We all need help sometime in our life!
Squeezed between steering wheel, handbrake, door and dashboard, Katerina reads in her history book, takes notes for school. Next to her, on the driver's seat, cat Eddy stares right in the camera lens. It may look like a cute snapshot on a sunny day, if it wasn't for a sad detail: a withering spring stuck in a roll of toilet paper. A distinctive memory of a former normal life that turned into a grim reality for a family of four. ... Read more
The Conference Board forecasts that China's annual growth will slow to an average of 5.5% between 2015 and 2019, compared with last year's 7.7%. It will downshift further to an average of 3.9% between 2020 and 2025, according to the report.
Why Chinese Growth Forecasts Just Crashed To A Paltry 3.9% - And Are Going Even Lower - In One Chart
Up until a few years ago, conventional wisdom was that China would grow at nearly double digits as long as the eye could see. Then, however, something happened, and China's 9% growth became 8%, then 7% and even lower, as suddenly the Politburo made it quite clear China would not chase growth at any cost, especially when the cost is trillions in bad debt and other NPLs, as we have explained time and again. The collapse in Chinese growth expectations is shown best on the following formerly hockeysticking chart of IMF's revised Chinese growth projections which has completely collapsed in the past few years. ...
E-WasteBAN | Exporting Harm: The High-Tech Trashing of Asia (2013) [23:03]
Dateline | E-Waste Hell (09/25/11) [17:44]
DemocracyNow - http://www.democracynow.org/Democracy Now! U.S. and World News Headlines for Monday, October 20 [13:04] DN | "Women Are Being Driven Offline": Feminist Anita Sarkeesian Terrorized for Critique of Video Games (10/20/14) [20:01]
Bill MoyersBill Moyers | Pulitzer Prize-winning author Marilynne Robinson talks to Bill about what the title character of her new book Lila, says about the state of democracy in America. (10/17/14) [25:16]
Senator Elizabeth WarrenSen. Elizabeth Warren: Banking Hearing on Income Inequality (09/17/14) [10:09]
Sen. Elizabeth Warren: Sen. Warren asks Fed Chair Yellen about efforts to end TBTF (To Big To Fail) (07/15/14) [7:30]
California DroughtStunning Scenes From California's Central Valley Drought, New Yorker
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TYT | Honest Politician Reveals The Worst Part Of The Job - 'We Hate It' (10/19/14) [4:06]
TYT | On Obama: Elizabeth Warren vs Howard Fineman (10/19/14) [10:23]
Chris HayesU.S. Army Col. Lawrence Wilkerson: FOX News and GOP Exploiting American's Fears (10/18/14) [7:27]
United States owes a lot of money, with its debt equal to the size of the economy as of 2012. See the Statue of Liberty & WTC being dwarfed by the debt.
Five Banks Account For 96% Of The $250 Trillion In Outstanding US Derivative Exposure; Is Morgan Stanley Sitting On An FX Derivative Time Bomb?
Zero Hedge | Author | 09/24/11
The latest quarterly report from the Office Of the Currency Comptroller is out and as usual it presents in a crisp, clear and very much glaring format the fact that the top 4 banks in the US now account for a massively disproportionate amount of the derivative risk in the financial system. Specifically, of the $250 trillion in gross notional amount of derivative contracts outstanding (consisting of Interest Rate, FX, Equity Contracts, Commodity and CDS) among the Top 25 commercial banks (a number that swells to $333 trillion when looking at the Top 25 Bank Holding Companies), a mere 5 banks (and really 4) account for 95.9% of all derivative exposure (HSBC replaced Wells as the Top 5th bank, which at $3.9 trillion in derivative exposure is a distant place from #4 Goldman with $47.7 trillion). The top 4 banks: JPM with $78.1 trillion in exposure, Citi with $56 trillion, Bank of America with $53 trillion and Goldman with $48 trillion, account for 94.4% of total exposure. As historically has been the case, the bulk of consolidated exposure is in Interest Rate swaps ($204.6 trillion), followed by FX ($26.5TR), CDS ($15.2 trillion), and Equity and Commodity with $1.6 and $1.4 trillion, respectively. Read more