Sunday, June 09, 2019

 

News Links, June 10, 2019

## Global Ponzi meltdown/House of Cards/global cooling/deflationary collapse ##
The risks are rising that the dollar could lose its special global standing
EU states adopt 'panda bonds' in Chinese outreach
EU members Hungary, Poland, Portugal and soon Austria are strengthening ties with China by issuing attractive "panda bonds" that help Beijing raise its profile on international financial markets.
"If you thought you saw QE before, this is going to be QE squared," Posen said.

## Cut, baby, cut! ##
IBM is laying off more than 1,000 employees
Job Cuts Soar 46% in May
Job cuts announced by U.S.-based companies jumped an unhealthy 46% between April and May to 58,577. It is another sign the job market is softening, and with that comes the threat of a sharp economic slowdown.

## War on cash/cashless society/cryptocurrencies ##
One In 10 Brits Now Live A Cashless Life

## Airline death spiral ##
British Airways passenger forced to travel on seat covered in dried vomit

## Fault lines/flashpoints/powder kegs/military/war drums ##
U.S. will not accept more Turkish F-35 pilots over Russia defenses - sources
US-Turkey Relations At Precipice; Turks Start S-400 Training
The Pentagon appears to be ready to take further action in the long-running saga over Turkey and the F-35.
US gives Turkey to July 31 to backtrack on Russian missile deal
Congress Angered by 'Escalated' Ballistic Missile Program Amid Concern of a Saudi Nuke
Rather than preventing ballistic missile proliferation in the region, the U.S. seems more intent on seeing Saudi Arabia strengthen its military muscle against Iran.
Ukraine's new president commits to EU, NATO membership
Ukrainian President Volodymyr Zelenskiy intends to keep Ukraine "on the path of European and Euro-Atlantic integration." He also said he is ready to negotiate with Russia to end the war in Eastern Ukraine.
Trump Deal Allows US Bomb Parts to Be Made in Saudi Arabia
Raytheon says nothing unusual about US technology transfer
Parting the Red Sea: Why the Chinese and U.S. armies are fortifying this tiny African country
In Djibouti, two superpowers have built heavily guarded bases only a few kilometres apart, watching the crossroads between Asia, Africa and the Middle East in an increasingly tense standoff for global supremacy. What could possibly go wrong?
China targeting Pacific isles for strategic bases
Beijing's bid to project power in South Pacific is aimed at Vanuatu, the Solomons, Papua New Guinea

• War on Iran
But the UAE cites no evidence linking Iran to the incident. Under the circumstances, Iran stands to lose a lot more than it would gain by perpetrating such an act. The US claims that Iran's aim is to raise oil prices, but the Iranians surely know that such minor damage would have no effect on oil prices, but if blamed on them would bring international opprobrium. On the other hand, the US and Israel stand to gain hugely by pinning the blame on Iran. -- RF

• War on Venezuela

## Global unrest/mob rule/angry people/torches and pitchforks ##
Thousands protest price hikes, corruption in Liberia

## Energy/resources ##
A "Gusher Of Red Ink" For U.S. Shale
Oil Industry Banks On Shaky Plastic Bet
Even as oil demand is beginning to weaken this year due to a brewing economic slowdown, the oil industry faces a longer-term threat to oil demand as bans on plastic begin to multiply.
Genetically Engineered Wheat Found in Unplanted Washington Field

## Solutions ##
What Would It Take to Spark a Rural/Small-Town Revival?
Recent research supports the idea that this under-the-radar migration is already under way.

## Environment/health ##
Turns out there's more plastic pollution in the deep ocean than the Great Pacific Garbage Patch
Junk food may be fuelling rise in food allergies, say experts

## Intelligence/security/internet/cyberwar ##
The Trust Project: Big Media and Silicon Valley's Weaponized Algorithms Silence Dissent
Given the Trust Project's rich-get-richer impact on the online news landscape, it is not surprising to find that it is funded by a confluence of tech oligarchs and powerful forces with a clear stake in controlling the flow of news.
Internet Free Speech All but Dead
Unelected, unnamed censors are operating across the Internet to suppress "unapproved" content.
Sky News and the Western Press Have Once Again Failed Syria
By whitewashing the role of the Idlib mercenaries and extremist groups, the Western press acts as de facto protection racketeers for the very forces exploiting civilians as human shields in Idlib and preventing their exodus via the Russian/Syrian-established humanitarian corridors.

## Systemic breakdown/collapse/unsustainability ##
Green New Deal - Part II
Population problem? Oh, boy. As I keep saying, "Too many humans." -- RF
And yet the authorities continue to insist that the economy is in good shape and that everything is going to be just fine.
Now Google, which banned Huawei from updates of its ubiquitous Android operating system, is warning that the restriction could become a national security issue, according to the Financial Times (paywall). That's because Huawei, the world's No. 2 handset maker, will likely move quickly to develop its own parallel version of Android, which could have more software bugs and be more susceptible to hacking.
Why should Google worry about bugs and hacking of a Huawei OS? That would just make Google look better and Huawei look worse, which would move customers from the Huawei column to the Google column. A simpler and more likely explanation is that Google stands to lose tons of money if Huawei dumps Android. Occam's razor, baby. -- RF
The letter, which the Journal obtained, says the provisions in the act would result in a "dramatic reduction" of the number companies able to supply the government. 
China calls in foreign tech firms after Huawei sales ban: sources
Walgreens cuts long-time health benefit for retired employees in 'unusual' move
Walgreens said in a September letter reviewed by CNBC that it would no longer subsidize medical benefits for its former employees who hadn't turned 64 by March 31, citing "rising and unpredictable healthcare costs."




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