Thursday, May 31, 2018


News Links, June 1, 2018

Global trade war, Eurozone sinking, journalist murder hoax... Oh, my!

## Global Ponzi meltdown/House of Cards/global cooling/deflationary collapse ##
Liquidity Crisis Coming: Here, There, Everywhere
Why the Eurozone and the Euro Are Both Doomed
Papering over the structural imbalances in the Eurozone with endless bailouts will not resolve the fundamental asymmetries.

INDOPACOM, it is: US Pacific Command gets renamed
Defense Secretary Jim Mattis announced Wednesday that U.S. Pacific Command would now be called U.S. Indo-Pacific Command, in the latest move to counter Chinese economic and military pressure in the region.

## Global unrest/mob rule/angry people/torches and pitchforks ##
Greek workers strike against belt-tightening, bailout reforms

## Energy/resources ##
Sounds great... until you take away the fossil fuels that underpin everything. -- RF
The "50 tons" in the first sentence is obviously an editing error for "50 million tons." -- RF

## Japan ##
Famous for its resistance to immigration, Japan opens its doors
Number of foreign workers doubles in five years as nation faces labor crisis
When the bottom falls out, all those foreign workers will suddenly be unwanted and sent home. -- RF
Another Nuclear Bailout?
Last week, New Jersey joined the list of states seemingly eager to bail out politically well-connected nuclear power plant operators.

And finally...

Tuesday, May 29, 2018


News Links, May 30, 2018

## Global Ponzi meltdown/House of Cards/global cooling/deflationary collapse ##
A Spiking Dollar = Emerging Market Chaos
Indonesia's currency is spiraling. It'll have to make sacrifices to save it
This is the New Italy
Years of neoliberal economic policies imposed by Brussels and by Italian politicians alike have devastated numerous industrial towns and the very fabric of Italian society.
Keep in mind, however, that the nostalgia for the dying industrial system is misplaced. -- RF

## War on cash/cashless society ##
What Happened to Bitcoin (BTC) These Past Few Days?

## Airline death spiral ##
Shrieking Woman Escorted off Flight After Hitting Passengers With Bible
Looks like the inception of something like China's social credit rating system. -- RF

## Fault lines/flashpoints/powder kegs/military/war drums ##
China sends warning to two U.S. Navy ships in South China Sea
Report: Israel, Iran in 'Indirect Negotiations' Over Syria Fighting
Two nations trying to come to an agreement about upcoming SW offensive
Rights group: Israeli banks help with settlement building
Israeli banks are helping build West Bank settlements in violation of international law by providing financial services to home buyers and local councils, Human Rights Watch said in a new report published Tuesday.
China-Australia friction intensifies deep in the South Pacific
Tug of war over submarine internet cables carries high security stakes
Tensions rise on Catalan streets as divisions over secession deepen

## Migrants/refugees ##
Spain rescues hundreds of migrants from Mediterranean
UN refugee agency calls for urgent measures amid spike in arrivals with hundreds dying en route
U.S. official says agency did not lose immigrant children

## Global unrest/mob rule/angry people/torches and pitchforks ##
Guinea's president reshuffles government as he faces strikes, civil unrest

## Got food? ##
Check Your Stockpile: 228,614 pounds of SPAM Recalled
This is just the most recent in a long line of recalls. Last month, hundreds of thousands of eggs were called back for potential salmonella and a 35,464 pounds of ground beef was suspected to be contaminated with bits of plastic. More than 150 people have become ill from consuming romaine lettuce tainted with E. coli.

You are supposed to get the impression that such things don't happen in the US. -- RF

## Systemic breakdown/collapse/unsustainability ##
Obama warns: if America stays so divided, our democracy and economy won't survive
The US won't survive in its present form, but for an entirely different reason. Of course this goes for other countries as well. -- RF
How Systems Collapse
This is how systems collapse: faith in the visible surface of abundance reigns supreme, and the fragility of the buffers goes unnoticed.
People easily fall prey to the thinking that capitalist free-market economies won't collapse, but I assure you that they will. All economies are subject to the same forces. -- RF
Major Chinese river starts to run dry after months without rain
Boats are no longer able to cruise along the Songhua in Harbin city after water levels fall to their lowest level in years
People get income for doing stuff, and they get income for owning stuff. Increasingly the latter. And the ownership share of income goes to a small slice of households that own almost all the stuff.

Sunday, May 27, 2018


News Links, May 28, 2018

## Global Ponzi meltdown/House of Cards/global cooling/deflationary collapse ##
Global Financial Breakdown Continues: Economic Growth Chokes On Massive Debt Increases
The "Axis of Gold" Will Drive Gold Higher by the End of 2018
A major blind spot in U.S. strategic economic doctrine is the increasing use of physical gold by China, Russia, Iran, Turkey and others both to avoid the impact of U.S. sanctions and create an offensive counterweight to U.S. dominance of dollar payment systems.

## War on cash/cashless society ##
Customers angry after National Australia Bank hit by technology outage
National Australia Bank on Saturday suffered what it described as a "nationwide outage" to some of its technology systems, leaving customers unable to access banking services or withdraw money.
The implications of such outages for the cashless society are clear. -- RF
Busking joins cashless society as musicians start using card readers (UK)
Bitcoin backlash as 'miners' suck up electricity, stress power grids in Central Washington

## Fault lines/flashpoints/powder kegs/military/war drums ##
Here's The Viral Interview Of Exiled Saudi Prince Calling For Regime Change In Riyadh
'Ehud Barak Gave the Order to Kill'
Former Israeli Prime Minister Ehud Barak received an earful from protestors when he was in San Francisco recently to hawk his new book.

## Migrants/refugees ##
The feds lost — yes, lost — 1,475 migrant children

## Global unrest/mob rule/angry people/torches and pitchforks ##
Anger toward Nicaraguan police grows after protester deaths

## Energy/resources ##
Once again, however, the planners have failed to recognize the prohibitive amounts of battery storage that will be required, and their plans are doomed to fail as a result.
For off-grid solar PV installations, the high cost of batteries is the biggest bottleneck.
Extreme Weather Causes Production Outages In Libya
A Libyan oil company has had to significantly reduce oil production at its fields because the hot weather has caused several turbines to stop working.
Chinese, Others Clamor For Crude Exports, But US Straining Capacity
The U.S. oil export infrastructure is straining to keep up as the country's crude oil exports hit new highs and China snaps up more of it than ever before.
It doesn't matter. Singapore's goose is cooked, anyway. -- RF

When people get hungry, the situation gets ugly. -- RF
Norwegian Salmon Prices Are Going Wild
That salmon and cream cheese bagel to get you through the mid-morning slump is fast becoming a luxury.
Rohingya crisis starves Myanmar's farms of workers
Chicken safety fear as chlorine washing fails bacteria tests
British microbiologists find that American technique at heart of Brexit trade row does not kill listeria and salmonella
Antibiotics in Meat Could Be Damaging Our Guts
The F.D.A. banned the use of antibiotics for growth promotion in animals last year. One organic cattle farmer is sure the ban is being flouted.

## Intelligence/security/internet/cyberwar ##
Chelsea Manning says mass surveillance 'getting worse'
Apple sees steep increase in U.S. national security requests
Apple Inc on Friday issued its twice yearly transparency report on government data requests, showing another sharp increase in U.S. national security-related requests.
These are the unanswered questions that still remain after Yulia Skripal's shock reappearance
Sowing confusion is often seen as a typically Russian technique to blindside and divert the enemy. But the Russians have hardly needed to sow any chaos here, because the British have helpfully done it for them

## Propaganda/censorship/fake news/alternative facts ##
Elon Musk to Fight Fake News with New Website Called Pravda
When trucks stop running... Instead of blaming the truckers, the world should thank them for showing the danger of a society dependent on truck transport. -- RF
How many times have I said "too many humans"? -- RF
China's milk consumption will increase threefold by 2050.
No, it won't. -- RF
Rare birds 'at risk of poisoning from eating lead shot'
Warning by expert panel says up to 400,000 wildfowl a year may suffer lead poisoning
Homeland Security authorizes 15,000 visas to help struggling companies
The Department of Homeland Security will provide 15,000 additional H-2B visas to at-risk businesses to bring in low-skilled foreign labor this summer.

Thursday, May 24, 2018


News Links, May 25, 2018

## Global Ponzi meltdown/House of Cards/global cooling/deflationary collapse ##
The Next Recession Will Be Devastatingly Non-Linear
Venezuela is not an outlier; it is the first of many canaries that will be keeling over in the coal mine.
I told you so. -- RF
Don't laugh. -- RF
Russian Central Bank Gold Reserves Rise to 1909.75 Tons in April.
Russian gold reserves are the fifth largest in the world.

## Airline death spiral ##
UK transport minister says cost of Heathrow must be kept down

## Fault lines/flashpoints/powder kegs/military/war drums ##
Tensions soar between India, Pakistan along Kashmir frontier
US 'Plan B' With Iran Sets the Stage for War
Threats, massive list of demands kill chances for diplomacy
House overwhelmingly backs plan to 'rebuild our military'
House lawmakers approved a $717 billion defense authorization bill on Thursday after days of debate but without much partisan division, hinting at a smooth negotiation ahead for the sometimes contentious budget policy measure.

## Global unrest/mob rule/angry people/torches and pitchforks ##
At least nine dead after police fire on protesters at Indian copper smelter
New oil discoveries are shifting from land to sea, and from shallow to deep. And costs go up accordingly. This can't end well. -- RF
Indian thermal power plants reeling from coal shortages
Private and public thermal power plants across India are facing an acute shortage of coal, at a time when rising electricity demand during summer months has sent the spot price of electricity skyrocketing.
A 100% renewable grid isn't just feasible, it's already happening
Not really. Everything is still built on a fossil-fuel foundation. Take that away, and the party ends. -- RF
Looks like humans are the biggest animal pests. -- RF
One way or another, this problem will be quickly solved when the SHTF. -- RF

## Intelligence/security/internet/cyberwar ##
Follow the money! -- RF
FBI Admits It Inflated Number of Supposedly Unhackable Devices
We've learned that the FBI has been misinforming Congress and the public as part of its call for backdoor access to encrypted devices.
This single statement by a DNC official invalidated the circumstantial evidence that had been used to support the DNC's Russian hacking claims, and represents a groundbreaking contradiction that has gone unobserved by establishment press outlets.

## Systemic breakdown/collapse/unsustainability ##
Brazil's economy runs largely on road transport and the four-day-old strike to protest rising diesel prices was beginning to have serious consequences, with highway police reporting blocked roads in nearly all of Brazil's states.
When trucks stop running, modern economies come to a standstill. -- RF

## Japan ##
Air duct corrosion, holes found at 7 nuclear plants in Japan
The megacities themselves are unsustainable. -- RF

## China ##
China's 'Social Credit Score' Blacklists People for Bad Behavior (Who Decides?)
The system is based on character and concocted from big data and artificial intelligence algorithms.

Cash Out Refis 10-Yr High, Private-Label Credit Card Delinquencies at 7-Yr High
If you think the economy is improving, you better check your facts and some disturbing trends.
No easy fix to higher gas prices in United States
Refineries in the country can only take on so much shale oil and, once at capacity, the rest of it heads to the export market.

And finally...

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