Tuesday, September 05, 2017

 

News Links, September 6, 2017

"The single biggest risk to the global economy now is that the tail wags the dog," Sharma said in an interview Tuesday. "The size of the financial economy -- stocks and bonds globally -- is more than three times the underlying economy. It's quite possible that something happens there, which has a knock-on effect to the economy, rather than the  other way around."
BRICS countries considering own cryptocurrency as settlement mechanism
China Begins To Reset The World's Reserve Currency System
It's a strategic move swapping oil for gold, rather than for U.S. Treasuries, which can be printed out of thin air.
Gold, silver trade higher on rising geo-political unrest
The Broken-Window Fallacy Is Still Alive and Well
As in the wake of every disaster, pundits and politically biased economists — including Larry Summers who declared Japan's 2011 Tsunami would boost economic growth —  will wax elegantly on how Harvey will end up being a boon for "the economy." CNBC, for example, reports that Hurricane Harvey may ultimately "raise wages."  It will spawn government spending and insurance payouts to flood victims, we're told.
If Summers is right, why didn't Japan's earthquake-tsunami disaster boost the Japanese economy to new heights? Instead, Japan has increasing poverty, spreading pessimism, stagnant wages, and rising consumer prices, not to mention the snail's-pace speed of rebuilding in the devastated regions. -- RF
ECB Tightens Noose Around Bank Accounts
Locking up the money of unsuspecting depositors to prop up collapsing banks.

## Airline death spiral ##
EU approves insolvent Air Berlin's 150 million euro lifeline

## Fault lines/flashpoints/powder kegs/military/war drums ##
How 'Regime Change' Wars Led to Korea Crisis
It is a popular meme in the U.S. media to say that North Korean leader Kim Jong Un is "crazy" as he undertakes to develop a nuclear bomb and a missile capacity to deliver it, but he is actually working from a cold logic dictated by the U.S. government's aggressive wars and lack of integrity.
How the nuclear-armed nations brought the North Korea crisis on themselves
Failure to honour terms of the 1970 nuclear non-proliferation treaty has helped create ground for Kim Jong-un's recklessness
South Korea DM Suggests Hosting US Tactical Nukes
Majority-Muslim Tajikistan passes law to discourage wearing of hijabs
Putin warned that "it would be strongly undesirable if someone wins a monopolist position".

## Global unrest/mob rule/angry people/torches and pitchforks ##
Anti-Uber protests disrupt major Chilean airport; one dead

## Energy/resources ##
EPA eyes limits for agricultural chemical linked to crop damage
The U.S. environmental agency is considering banning sprayings of the agricultural herbicide dicamba after a set deadline next year, according to state officials advising the agency on its response to crop damage linked to the weed killer.
North Korea's nuclear test site at risk of imploding, Chinese scientist says
If mountain under which last five bombs were 'almost certainly' detonated crumbles, radiation would leak across region, expert warns
Electric cars and renewables not enough to meet Paris climate goal: consultant
Chronic wasting disease: Hunters, government, industry at odds over deer urine
More than 160,000 Atlantic salmon escape Washington fish farm
A Canadian-owned fish farm in Washington state capsized last month, resulting in more than 160,000 invasive Atlantic salmon invading the waters of Puget Sound, which could cause problems for the native Pacific salmon population there.
Why would they allow Atlantic salmon to be farmed on the Pacific coast? Obviously, some of them are going to escape their enclosure, sooner or later. -- RF
Many agricultural staples have enormous environmental consequences. Corn's side-effects—fertilizer use and emissions, transportation pollution, water uptake, land change—are particularly noteworthy given the enormous scale of U.S. production.

## Intelligence/security/internet/cyberwar ##
Here are the emojis that could be coming to your keyboard in 2018
Google DeepMind AI destroys human expert in lip reading competition
[The report] went on to say that the research could help "discern important discriminative cues that are beneficial for teaching lip reading to the hearing impaired."
That's wonderful. Unfortunately, applications of the technology are not going to stop there. -- RF
Intensifying Russia Probes: Why? It's a Proven Fact that Russia Did Not Hack DNC Computers

## Propaganda/censorship/fake news/alternative facts ##
Angry Hillary Blames Everything From Bernie Sanders To "There's Something About Mary" For 2016 Loss

## Systemic breakdown/collapse/unsustainability ##
The Seneca Effect: Why Growth is Slow but Collapse is Rapid
Presents wisdom from an ancient Roman Philosopher that you can use today. Explains why technological progress may not prevent societal collapse. Provides a true systems perspective on the widespread phenomenon of collapse. Highlights principles to help us manage, rather than be managed by, the greatest challenges of our times.

## Japan ##
Japan Hawks Look for Preemptive Attack Capability
Too many humans. -- RF
But as with nuclear decommissioning, there won't be nearly as much money budgeted as everyone thinks. Our future world will be littered with nuclear power plants and oil wells that no one has the money to decommission. -- RF
We're addicted to debt and headed for a crash. It could be worse than 2007
Ten years ago the culprit was sub-prime mortgages. Personal credit is out of control in Britain now. We seem to have learned absolutely nothing
Leaked paper details British plans to limit EU migrants




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