Sunday, July 16, 2017


News Links, July 17, 2017

## Global Ponzi meltdown/House of Cards/global cooling/deflationary collapse ##
Jobs and Inflation: Gradually and Then Suddenly
The Fed and the ECB believe they can tighten and taper without killing the market so long as they jawbone this constantly.
First of all, there won't be any growth. Second, mid-size cities will turn into disaster areas just as bad as megacities, only on a smaller scale. At this time, when energy is grossly underpriced, deliveries are still being made and cities look like "markets." -- RF
ADB: climate change will reverse Asian growth
The Asian Development Bank has warned that unabated climate change would have devastating consequences for economies in Asia and the Pacific.
This will of course be one factor turning big cities — which according to the article above this one are supposedly going to be the engines of growth — into hell-holes. -- RF
They look like bulldozer-ready piles of junk to me, but you be the judge. -- RF

## Energy/resources ##
Junk oil: Trump admin approves oil company's Arctic drilling plan
Arctic drilling, like oil sand and shale oil, is touted as a matter of "making more oil available with new technologies," but these are in fact all acts of desperation. With conventional oil having peaked and with a serious deficit of new discoveries, the oil industry is going after these high-cost substitutes (i.e., junk oil) at the same time as declining consumer affordability keeps oil prices low. It's a deadly combination that's slowly killing the oil industry and taking industrial society with it. -- RF
Junk oil: The Mighty U.S. Shale Oil Industry To Lose Another $20 Billion In 2017
Well, it looks like the U.S. shale oil industry is going to chalk up another lousy year of financial losses in 2017.  This shouldn't be a surprise as the U.S. shale oil industry hasn't made any real money since 2008.
Oil majors' debt levels have ballooned with aggregate debt reaching nearly $300 billion in 2014, up from just under $200 billion in 2009 according to S&P's estimates.
Wind power curtailment is regularly necessary for relieving the pressure on the grids.

## Got food? ##
Drought in High Plains the worst some farmers have ever seen
Drought in North Dakota is laying waste to fields of normally bountiful food and hay crops and searing pastures that typically would be home to multitudes of grazing cattle.
Chemicals found in mac and cheese powder might pose serious health threat, study says

Brazil's Environment Min proposes shrinking Amazon reserve
Brazil's Environment Ministry is proposing to open up 860,000 acres of a protected reserve in the Amazon to logging, mining and agricultural use.
Too many humans. -- RF

## Intelligence/security/internet/cyberwar ##
Australia to compel technology firms to provide access to encrypted missives
Australia on Friday proposed new laws to compel companies such as U.S. social media giant Facebook (FB.O) and device manufacturer Apple (AAPL.O) to provide security agencies access to encrypted messages.
Calls for law change after Indians left in dark over data leaks
Fears Indian telecom upstart Reliance Jio suffered a major data breach, compromising the personal data of over 100 million customers, have prompted calls for India to adopt more robust laws to protect consumers.
Co-Founder Of Trump-Russia Dossier Firm Cancels Testimony While Lynch Claims Ignorance
The ongoing efforts to bring down Donald Trump are unraveling at an accelerating pace.
US and UK acting above the law to support the Saudi war in Yemen
A former State Department war crimes expert warns that arms sales to Saudi Arabia is 'prohibited' under US law - but the lethal exports still go ahead
Everybody Is Forgetting That Clinton Allies Did The Same Thing As Don Jr.
Trump Jr., Kushner and Manafort's lone meeting with the Russian lawyer pales when compared to the coordination between Clinton allies and Ukrainian government officials who hoped to see Clinton win the 2016 election.
Tesla CEO Elon Musk warned a bipartisan gathering of U.S. governors on Saturday that government regulation of artificial intelligence is needed because it's a "fundamental risk to the existence of human civilization."
Presumably robots and other embodiments of AI will run on electricity. Hence, these too will stop when energy systems fail, as when the financial system collapses. -- RF
DHS, CBP Admit They Have No Legal Authority To Access Americans' Social Media Accounts

## Propaganda/censorship/fake news/alternative facts ##
How Russia-gate Met the Magnitsky Myth
A documentary debunking the Magnitsky myth, which was an opening salvo in the New Cold War, was largely blocked from viewing in the West but has now become a factor in Russia-gate.

## Systemic breakdown/collapse/unsustainability ##
We Do These Things Because They're Easy: Our All-Consuming Dependence on Debt
A world in which "we do these things because they're easy" has one end-state: collapse.
Scrambles against China planes drop
The Air Self-Defense Force scrambled fighter jets a total of 101 times against Chinese aircraft in April-June, down by 98 from a year before, the Defense Ministry said Friday.
Electric cars will fuel huge demand for power, says National Grid
Increase in peak electricity demand could be more than capacity of planned Hinkley Point C nuclear power station by 2030
Fracking firms struggling to raise money from UK banks amid environment protests
Is California Bailing Out Tesla through the Backdoor?
The California state Assembly passed a $3-billion subsidy program for electric vehicles, dwarfing the existing program. The bill is now in the state Senate. If passed, it will head to Governor Jerry Brown, who has not yet indicated if he'd sign what is ostensibly an effort to put EV sales into high gear, but below the surface appears to be a Tesla bailout.
States in crisis: Embroiled in the worst budget battles since the Great Recession
Faced with tight revenues, tax-weary voters and uncertainty about the impact of federal tax and budget policies, lawmakers and governors are wrestling over what has become one of the toughest rounds of annual state budget battles since the Great Recession.
Neocons Enlist in Anti-Trump #Resistance
The neocons, who have influenced U.S. foreign policy since the 1980s, inflicting grave damage on U.S. interests and the world, are reinventing themselves as soldiers in the anti-Trump #Resistance.

And finally...

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