Whenever i create a new world in minecraft it just gives me the dirt screen, then crashes giving me the crash report -

---- Minecraft Crash Report ----
// Why is it breaking

Time: 25/07/14 01:11
Description: Starting integrated server

java.lang.ExceptionInInitializerError
at net.minecraft.server.MinecraftServer.<init>(SourceFile:120)
at bsx.<init>(SourceFile:38)
at bao.a(SourceFile:1610)
at bdb.a(SourceFile:202)
at bdw.a(SourceFile:172)
at bdb.a(SourceFile:301)
at bdw.k(SourceFile:232)
at bdw.p(SourceFile:211)
at bao.p(SourceFile:1328)
at bao.ak(SourceFile:774)
at bao.f(SourceFile:728)
at net.minecraft.client.main.Main.main(SourceFile:148)
Caused by: java.lang.IllegalStateException: failed to create a child event loop
at io.netty.util.concurrent.MultithreadEventExecutorGroup.<init>(MultithreadEventExecutorGroup.java:61)
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 nc.<clinit>(SourceFile:31)
... 12 more
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:57)
... 16 more
Caused by: java.io.IOException: Unable to establish loopback connection
at sun.nio.ch.PipeImpl$Initializer.run(Unknown Source)
at sun.nio.ch.PipeImpl$Initializer.run(Unknown Source)
at java.security.AccessController.doPrivileged(Native Method)
at sun.nio.ch.PipeImpl.<init>(Unknown Source)
at sun.nio.ch.SelectorProviderImpl.openPipe(Unknown Source)
at java.nio.channels.Pipe.open(Unknown Source)
at sun.nio.ch.WindowsSelectorImpl.<init>(Unknown Source)
at sun.nio.ch.WindowsSelectorProvider.openSelector(Unknown Source)
at io.netty.channel.nio.NioEventLoop.openSelector(NioEventLoop.java:126)
... 19 more
Caused by: java.net.ConnectException: Connection timed out: connect
at sun.nio.ch.Net.connect0(Native Method)
at sun.nio.ch.Net.connect(Unknown Source)
at sun.nio.ch.Net.connect(Unknown Source)
at sun.nio.ch.SocketChannelImpl.connect(Unknown Source)
at java.nio.channels.SocketChannel.open(Unknown Source)
at sun.nio.ch.PipeImpl$Initializer$LoopbackConnector.run(Unknown Source)
... 28 more

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

– Head –
Stacktrace:
at net.minecraft.server.MinecraftServer.<init>(SourceFile:120)
at bsx.<init>(SourceFile:38)

– Starting integrated server –
Details:
Level ID: New World----
Level Name: New World
Stacktrace:
at bao.a(SourceFile:1610)
at bdb.a(SourceFile:202)
at bdw.a(SourceFile:172)
at bdb.a(SourceFile:301)
at bdw.k(SourceFile:232)
at bdw.p(SourceFile:211)

– Affected screen –
Details:
Screen name: bee
Stacktrace:
at bao.p(SourceFile:1328)
at bao.ak(SourceFile:774)
at bao.f(SourceFile:728)
at net.minecraft.client.main.Main.main(SourceFile:148)

– System Details –
Details:
Minecraft Version: 1.7.10
Operating System: Windows 8.1 (amd64) version 6.3
Java Version: 1.8.0_11, Oracle Corporation
Java VM Version: Java HotSpot(TM) 64-Bit Server VM (mixed mode), Oracle Corporation
Memory: 95632280 bytes (91 MB) / 131072000 bytes (125 MB) up to 954728448 bytes (910 MB)
JVM Flags: 2 total; -XX:HeapDumpPath=MojangTricksIntelDriversForPerformance_javaw.exe_minecraft.exe.heapdump -Xmx1G
AABB Pool Size: 0 (0 bytes; 0 MB) allocated, 0 (0 bytes; 0 MB) used
IntCache: cache: 0, tcache: 0, allocated: 0, tallocated: 0
Launched Version: 1.7.10
LWJGL: 2.9.1
OpenGL: AMD Radeon HD 7700 Series GL version 4.3.12618 Compatibility Profile Context 13.251.0.0, ATI Technologies Inc.
GL Caps: Using GL 1.3 multitexturing.
Using framebuffer objects because OpenGL 3.0 is supported and separate blending is supported.
Anisotropic filtering is supported and maximum anisotropy is 16.
Shaders are available because OpenGL 2.1 is supported.

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)
Vec3 Pool Size: 0 (0 bytes; 0 MB) allocated, 0 (0 bytes; 0 MB) used
Anisotropic Filtering: Off (1)