Thursday, August 08, 2019

 

News Links, August 9, 2019

## Global Ponzi meltdown/House of Cards/global cooling/deflationary collapse ##
Financial World Gone Nuts: $15 Trillion Negative Yielding Debt
12 countries with negative 10-year yields. A race to hell.


## Fault lines/flashpoints/powder kegs/military/war drums ##
The UAE tangos with Tehran
The United Arab Emirates is reengaging with rival Iran, taking reciprocal measures to deescalate Gulf tensions, and leaving its ally Saudi Arabia in the lurch.
Currently, while industry has developed warheads, glide bodies and other components, there is no industrial base equipped to manufacture hypersonic weapons.

• War on Venezuela
China Comes to the Rescue of Venezuela's Run-Down Oil Refineries
A Chinese contractor has agreed to shore up Venezuela's derelict refining network to ease fuel shortages, potentially complicating the Trump administration's push for regime change in the oil-rich country.


## Global unrest/mob rule/angry people/torches and pitchforks ##
Protests, no-shows, and the Baby Trump balloon greet the president in two grief-stricken cities
"The golden age is behind us," Robert Stier, senior lead of global petrochemicals at the research and pricing firm S&P Global Platts, said in June, according to the Houston Chronicle. "The times of exceptional margins are over."

Note that making payoffs to farmers doesn't necessarily mean there will be any more food produced. -- RF
We'll find out soon enough that we cannot eat electrons. -- RF
Bulgaria fails to halt spread of African swine fever
Bulgaria has failed to contain the spread of African swine fever, Deputy Minister of Agriculture and Food Yanko Ivanov said yesterday, amid concerns that the Black Sea nation could lose its entire 600,000 pig breeding industry.

## Environment/health ##
Ecological land grab: food vs fuel vs forests
The overlapping crises of climate change, mass species extinction, and an unsustainable global food system are on a collision course towards what might best be called an ecological land grab.
Did I mention that there are too many humans? -- RF
Heavy Midwest rains will wash more destructive fertilizer into the water, scientists say.

## Intelligence/security/internet/cyberwar ##
Chelsea Manning Can Remain in Jail for Another Year, Judge Rules
Critics Say Monsanto's Spying and Intimidation Operation Show Why BioTech Giant 'Needs To Be Destroyed Now'
New documents reveal Monsanto's 'fusion center' aimed at targeting and discrediting journalists and critics
A California police robot is flagging "blacklisted" people and cars
An autonomous police robot patrolling the streets of Huntington Park, California is scanning license plates, logging IP addresses, and using facial recognition technology that alerts cops to the presence of "blacklisted" passersby.

• War on Julian Assange
New Fears for Julian Assange
Legendary journalist John Pilger has been to see Assange in Belmarsh Prison in London and his report is not encouraging.

## US ##
Fed Trapped in a Rate-Cutting Box: It's the Debt Stupid
The Fed desperately needs to keep credit expanding or the economy will collapse. However, it's an unsustainable scheme.
Jobs Lost to Bankruptcies at 10-Year High
In the first seven months of 2019, nearly 43,000 workers lost their jobs when the companies they worked for filed for bankruptcy. That's higher than the full-year total for any year since 2009.
"Restoring trade with China is the only sustainable solution."
Underneath the superficial explanation given in the article lies the basic reason: energy. Baby boomers are lucky because they were born at a time when people benefited from the very high EROI of oil. Conventional oil production in the US peaked in 1970, and it's been downhill ever since. (Note: Money-losing shale oil makes no difference.) -- RF




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