Crash report

---- Minecraft Crash Report ----
// I'm sorry, Dave.

Time: 18/08/15 16:12
Description: Updating screen events

java.lang.IllegalStateException: failed to create a child event loop
	at io.netty.util.concurrent.MultithreadEventExecutorGroup.<init>(MultithreadEventExecutorGroup.java:68)
	at io.netty.channel.MultithreadEventLoopGroup.<init>(MultithreadEventLoopGroup.java:49)
	at io.netty.channel.nio.NioEventLoopGroup.<init>(NioEventLoopGroup.java:61)
	at io.netty.channel.nio.NioEventLoopGroup.<init>(NioEventLoopGroup.java:52)
	at ll$1.a(SourceFile:44)
	at ll$1.b(SourceFile:41)
	at no.c(SourceFile:10)
	at ll.a(SourceFile:121)
	at ave.a(SourceFile:1942)
	at axv.i(SourceFile:172)
	at axv$a.a(SourceFile:224)
	at awi.p(SourceFile:315)
	at axv.k(SourceFile:82)
	at axu.p(SourceFile:390)
	at ave.s(SourceFile:1498)
	at ave.av(SourceFile:889)
	at ave.a(SourceFile:325)
	at net.minecraft.client.main.Main.main(SourceFile:124)
Caused by: io.netty.channel.ChannelException: failed to open a new selector
	at io.netty.channel.nio.NioEventLoop.openSelector(NioEventLoop.java:128)
	at io.netty.channel.nio.NioEventLoop.<init>(NioEventLoop.java:120)
	at io.netty.channel.nio.NioEventLoopGroup.newChild(NioEventLoopGroup.java:87)
	at io.netty.util.concurrent.MultithreadEventExecutorGroup.<init>(MultithreadEventExecutorGroup.java:64)
	... 17 more
Caused by: java.io.IOException: Unable to establish loopback connection
	at sun.nio.ch.PipeImpl$Initializer.run(PipeImpl.java:101)
	at sun.nio.ch.PipeImpl$Initializer.run(PipeImpl.java:68)
	at java.security.AccessController.doPrivileged(Native Method)
	at sun.nio.ch.PipeImpl.<init>(PipeImpl.java:170)
	at sun.nio.ch.SelectorProviderImpl.openPipe(SelectorProviderImpl.java:50)
	at java.nio.channels.Pipe.open(Pipe.java:155)
	at sun.nio.ch.WindowsSelectorImpl.<init>(WindowsSelectorImpl.java:127)
	at sun.nio.ch.WindowsSelectorProvider.openSelector(WindowsSelectorProvider.java:44)
	at io.netty.channel.nio.NioEventLoop.openSelector(NioEventLoop.java:126)
	... 20 more
Caused by: java.net.ConnectException: Connection timed out: connect
	at sun.nio.ch.Net.connect0(Native Method)
	at sun.nio.ch.Net.connect(Net.java:457)
	at sun.nio.ch.Net.connect(Net.java:449)
	at sun.nio.ch.SocketChannelImpl.connect(SocketChannelImpl.java:647)
	at java.nio.channels.SocketChannel.open(SocketChannel.java:189)
	at sun.nio.ch.PipeImpl$Initializer$LoopbackConnector.run(PipeImpl.java:130)
	at sun.nio.ch.PipeImpl$Initializer.run(PipeImpl.java:83)
	... 28 more


A detailed walkthrough of the error, its code path and all known details is as follows:
---------------------------------------------------------------------------------------

-- Head --
Stacktrace:
	at io.netty.util.concurrent.MultithreadEventExecutorGroup.<init>(MultithreadEventExecutorGroup.java:68)
	at io.netty.channel.MultithreadEventLoopGroup.<init>(MultithreadEventLoopGroup.java:49)
	at io.netty.channel.nio.NioEventLoopGroup.<init>(NioEventLoopGroup.java:61)
	at io.netty.channel.nio.NioEventLoopGroup.<init>(NioEventLoopGroup.java:52)
	at ll$1.a(SourceFile:44)
	at ll$1.b(SourceFile:41)
	at no.c(SourceFile:10)
	at ll.a(SourceFile:121)
	at ave.a(SourceFile:1942)
	at axv.i(SourceFile:172)
	at axv$a.a(SourceFile:224)
	at awi.p(SourceFile:315)
	at axv.k(SourceFile:82)
	at axu.p(SourceFile:390)

-- Affected screen --
Details:
	Screen name: aya
Stacktrace:
	at ave.s(SourceFile:1498)
	at ave.av(SourceFile:889)
	at ave.a(SourceFile:325)
	at net.minecraft.client.main.Main.main(SourceFile:124)

-- System Details --
Details:
	Minecraft Version: 1.8.8
	Operating System: Windows 7 (amd64) version 6.1
	Java Version: 1.8.0_25, Oracle Corporation
	Java VM Version: Java HotSpot(TM) 64-Bit Server VM (mixed mode), Oracle Corporation
	Memory: 160938624 bytes (153 MB) / 331571200 bytes (316 MB) up to 1060372480 bytes (1011 MB)
	JVM Flags: 6 total; -XX:HeapDumpPath=MojangTricksIntelDriversForPerformance_javaw.exe_minecraft.exe.heapdump -Xmx1G -XX:+UseConcMarkSweepGC -XX:+CMSIncrementalMode -XX:-UseAdaptiveSizePolicy -Xmn128M
	IntCache: cache: 0, tcache: 0, allocated: 13, tallocated: 95
	Launched Version: 1.8.8
	LWJGL: 2.9.4
	OpenGL: ATI Mobility Radeon HD 5470             GL version 3.2.9262 Compatibility Profile Context, ATI Technologies Inc.
	GL Caps: Using GL 1.3 multitexturing.
Using GL 1.3 texture combiners.
Using framebuffer objects because OpenGL 3.0 is supported and separate blending is supported.
Shaders are available because OpenGL 2.1 is supported.
VBOs are available because OpenGL 1.5 is supported.

	Using VBOs: No
	Is Modded: Probably not. Jar signature remains and client brand is untouched.
	Type: Client (map_client.txt)
	Resource Packs:
	Current Language: English (US)
	Profiler Position: N/A (disabled)
	CPU: 4x Intel(R) Core(TM) i3 CPU M 350 @ 2.27GHz