Thursday, June 29, 2017


News Links, June 30, 2017

## Global Ponzi meltdown/House of Cards/global cooling/deflationary collapse ##
Multimillionaires added most to their wealth in one country last year
Global borrowing hits record $217T, as central banks prepare to tighten credit
World markets were jarred this week by a chorus of central bankers warning about overpriced assets, excessive borrowing and the need to raise rates
"Tightening" Slugfest Erupts behind the Fed
July rate hike "in the bag" for Canada. Bank of England, ECB scramble.
Global shipping is still feeling the effects of a cyber attack that hit A.P. Moller-Maersk two days ago, showing the scale of the damage a computer virus can unleash on the technology dependent and inter-connected industry.
Hong Kong Versus Singapore: Which City Is Best for Expats?
They'll both be death traps when the final economic crisis hits. -- RF

"Getting the right equipment is one thing -- whether it's canines or X-ray machines. Training people to support those is another," said Michael O'Neill, chief executive officer of MSA Security, which provides security, training and other services. "Then it's going to come down to costs. None of this stuff is cheap. And who is going to be responsible for that?"

## Fault lines/flashpoints/powder kegs/military/war drums ##
Tillerson urges negotiation to end Gulf crisis but Saudis say no
Trump is quickly learning how to toe the deep state's line. -- RF
Iraq declares end of caliphate after capture of Mosul mosque
Venezuela says Supreme Court attacked from helicopter
Filipinos May Face Jail for Not Singing National Anthem Enthusiastically
"The singing shall be mandatory and done with fervor."

## Energy/resources ##
OPEC, have no fear: The U.S. oil-shale output crash is here
$30 Oil Could Spark Contagion In Energy Markets
Air pollution casts shadow over solar energy production
Global solar energy production is taking a major hit due to air pollution and dust. The first study of its kind shows airborne particles and their accumulation on solar cells is cutting energy output by more than 25 percent in certain parts of the world. The regions hardest hit are also those investing the most in solar energy installations -- China, India and the Arabian Peninsula.
Can one junk energy source replace another junk energy source? -- RF
Trump's ignorance about energy is appalling, but he's in good company. -- RF
You don't say! -- RF

Lifespan lengthened in the 20th century no doubt because of the availability of cheap, plentiful energy made advances in health care possible. The recent fall in life expectancy likely reflects net energy decline. -- RF
"To this day Iran's clerical leaders portray the U.S. as a hostile foreign power bent on subverting and overthrowing its government," says the article, which sounds as though the clerical leaders are mistaken, but in fact the US is still openly intent on regime change in Iran. -- RF
Mossad launches fund to invest in firms developing spy tech
US House panel adopts language to end 2001 war authorization
Online hate speech may soon incur a hefty bill in Germany
[Mattis] offered no evidence other than the fact that an attack had not taken place.
NYT Finally Retracts Russia-gate Canard
A founding Russia-gate myth is that all 17 U.S. intelligence agencies agreed that Russia hacked into and distributed Democratic emails, a falsehood that The New York Times has belatedly retracted.
Rebellion At The NYTimes: Newsroom To Walk Out After "Decrying Direction Of Paper"

## Systemic breakdown/collapse/unsustainability ##
What Problems Are We Solving by Increasing Complexity?
The incremental increase in systemic complexity is rarely if ever recognized as a problem that additional complexity can't solve.
Frustration grows among Hong Kong's 'betrayed generation'
Sky-high living costs and dwindling freedoms fuel youth hostility toward Beijing

## US ##
This is what Warren Buffett thinks is the real problem with U.S. economy
Billionaire says mega-rich have been disproportionately rewarded
Welcome To The Third World, Part 24: Illinois About To Default?
What happens to the financial markets when people finally realize that Illinois is far from the only impending bankruptcy?

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