Tuesday, July 11, 2017


News Links, July 12, 2017

## Global Ponzi meltdown/House of Cards/global cooling/deflationary collapse ##
Silicon Valley's "Death by Overfunding": Next Unicorn Collapses
Stock Market Tsunami Siren Goes Off
It will seem like a good idea until the digital economy implodes. Then, of course, short-sighted leaders will insist that no one could have foreseen the implosion. -- RF

## Fault lines/flashpoints/powder kegs/military/war drums ##
Qatar Spat Worsens As Saudi-Led Arab States Vow New Measures
Syrian Observatory says it has 'confirmed information' that Islamic State chief is dead
US Looks to Dramatically Escalate Involvement in Libya
US officials familiar with the situation say that the Trump Administration is likely to announce a dramatic "ramping up" of US involvement in Libya, appointing a new US ambassador, and setting up a permanent US military presence in the nation.
Moscow steps up war of words in diplomatic row with U.S.
Moscow on Tuesday toughened its rhetoric in its row with Washington, saying it was considering ways to retaliate for the seizure of some of its diplomatic premises in the United States and expulsions of diplomats.
The F-35 Costs Even More When You Fly It
The estimate for keeping the fighter jet airborne is $1.1 trillion, and climbing.

## Global unrest/mob rule/angry people/torches and pitchforks ##
Hundreds of thousands rally as Turkish opposition leader ends 25-day 'March for Justice'

## Energy/resources ##
Wind and solar need natural gas to balance intermittent, variable, and seasonal power
Aramco CEO sees oil supply shortage as investments and discoveries drop
The world might be heading for an oil supply shortage following a steep drop in investments and a lack of fresh conventional discoveries, Saudi Aramco's chief executive said on Monday.
The implications are economy-shattering. Powerdown and the 100% use of renewables mean the end of economic growth, and indeed a long slide back to an 18th-century lifestyle unless some new form of highly dense and inexpensive energy (think 1950s oil) is found. -- RF
Suit yourself, but if I must choose between bat guano and bitcoin, I'll take the former. No matter what happens, it's highly likely that your bat guano will be there for you. But once outages — power grids, the internet, servers, etc. — become frequent, cryptocurrencies disappear into thin air. Although such outages could occur for a variety of reasons, the greatest probability at this time is financial collapse. -- RF

## Intelligence/security/internet/cyberwar ##
Ten Problems with Anti-Russian Obsession
Macron Cracks Down on French Liberty
The youthful new French President Macron is getting rave press reviews, with little attention to his clampdown on public liberty under the guise of fighting terrorism.
The Biometric Frontier
"Show Me Your Papers" Becomes "Open Your Eyes" as Border Sheriffs Expand Iris Surveillance
Forgetting the 'Dirty Dossier' on Trump
The new Russia-gate furor is over Donald Trump Jr. meeting a Russian who claimed to have dirt on Hillary Clinton, but the Clinton team's Russian cash-for-trash search against Trump Sr. is all but forgotten.
'But sir, it's an American ship.' 'Never mind, hit her!' When Israel attacked USS Liberty (Haaretz)
'The Americans have findings that show our pilots were aware the ship was American,' a newly published document by the State Archives says

## Propaganda/censorship/fake news/alternative facts ##
Hiding US Lies About Libyan Invasion
In 2016, when a British parliamentary report demolished the excuse for the U.S. and its allies invading Libya in 2011, it should have been big news, but the U.S. mainstream media looked the other way.

## Systemic breakdown/collapse/unsustainability ##
The Inevitability Of DeGrowth
Debt-dependent consumption in a world in which wages stagnate for the bottom 90% and energy costs increase as demand outstrips supply is a system with only one possible end-point: collapse.
BOJ widens negative rates net
The Yomiuri Shimbun The Bank of Japan has begun applying negative interest rates on money that overseas central banks and international organizations deposit in the BOJ, it has been learned.
I believe that a currency crisis isn't just possible--it's inevitable. And it probably happens at about the time that the BOJ owns all or nearly all of the JGB market, and has to resort to canceling the debt.

## China ##
Some 10,000 Chinese companies now operating in Africa, report says
China government auditor flags dodgy books at key state firms
Around 90% of leading Chinese state enterprises recently scrutinized by the nation's auditor show evidence of improper accounting, according to a new and highly unusual report likely aimed at keeping the government's anti-graft drive fresh in officials' minds.
China's Ebay Offers Customers Cheap Groceries And Defaulted Loans On Bankrupt Companies

## UK ##
Hinkley Point C is £1.5bn over budget and a year behind schedule, EDF admits

## US ##
"The department store doomsday clock, which has been ticking away for quite a few years, just started moving a little faster."
It's a heart-breaking story. Pity the ultra-rich. -- RF

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