Monday, March 23, 2020


News Links, March 24, 2020

## Global Ponzi meltdown/House of Cards/global cooling/deflationary collapse ##
Global economy will suffer for 'years to come' says OECD
Central banks deploy record sums to break financial logjam, but may need more
Helicopter Money: Short-Term Relief Won't Cure our Financial Disease
The collateral supporting the global mountain of debt is crumbling as speculative bubbles deflate.
Ford decides to halt production in India, South Africa on coronavirus impact
Rich People Are Raising Cash From Their Art Collections
Demand for gold is soaring as investors seek a safe haven from market chaos
Australia and India Lead Wednesday's Selling for an Asia in Recession
There are country-specific reasons why Australia, India and Thailand are leading Asia's plunge, but the whole region is in recession, S&P correctly says.

## Cut, baby, cut! ##
GE's aviation unit to cut 10% of U.S. workforce: CEO

## Airline death spiral ##
Emirates stops nearly all passenger flights, slashes wages
Domestic travel, airline hubs the latest hit as coronavirus curbs tighten
Airbus adds 15 billion euro credit line, scraps dividend
Airlines ground flights, count mounting costs of the coronavirus shock
Singapore Airlines slashes 96% of capacity, grounds most planes

## Fault lines/flashpoints/powder kegs/military/war drums ##
Maoist rebels gun down 17 Indian police
Coronavirus Means America Is Really Broke. Trump Should Get the Hell Out of Syria.
Worse than 9/11: Defense firms with exposure to commercial market losses cut overhead to the bone
Defense companies with substantial exposure to commercial markets are taking dramatic measures to limit overhead and preserve cash, with one chief executive calling the new coronavirus pandemic "worse than anything we've seen."
US raps France for prisoner swap with Iran
North Korea test fires two missiles
KC-46, P-8 production to stop as Boeing temporarily shuts down facilities

## Migrants/refugees ##
Sprawling Mexican border camp ill-prepared for coronavirus
Coronavirus risks taking heavy toll on migrants in Europe

## Energy/resources ##
World Oil analysis: Research shows current oil price collapse near record proportions
International World Water Day and startling global facts
Oil Majors Slash Spending Amid Price Plunge
This is especially worrisome, as reduced capex means oil companies are not maintaining or building their reserves. New oil discoveries have been dropping for years, and this exacerbates the problem. -- RF
Contrary To Assertions, Saudi Arabia Can't Endure $30.00 Oil For Long
Exxon Slashes Louisiana Refinery Output Amid Crumbling Demand
Canada Braces For Oil Cuts As Storage Nears Limit

## Got food? ##
Gov. Newsom activates National Guard for food distribution
A 'Second Dust Bowl' Could Trigger Worldwide Food Shortages and Price Hikes, Study Suggests
Families turn to growing their own food amid supermarket shortages
Don't wait until there are shortages to start growing your own. I guarantee you will not become an instant farmer. -- RF
Coronavirus food shortages in wealthy summer enclaves
COVID-19 prompted wealthy to flee to Massachusetts island Nantucket, Hamptons

## Environment/health ##
Monarch Butterfly Populations Are Plummeting
• Coronavirus
Just When You Thought Things Couldn't Get Worse, Neo-Nazis Are Trying to Weaponize Coronavirus
White supremacists are discussing schemes that use infected "saliva" to target law enforcement agents and "nonwhite" people
Spain moves to extend state of emergency as virus deaths soar
Italy: The Virus Hits Polluted Areas. Is There a Correlation?
Latest on the spread of the coronavirus around the world
Russia to use mobile phones to track people at risk of coronavirus
Hunt for medical gear to fight virus becomes all-consuming
New York launches new COVID-19 drug trials; more underway in China
China reports no new local COVID-19 cases; WHO warns of global acceleration
Chloroquine Poisoning and Deaths But "Hey It Works"
'Kiwis – go home': New Zealand to go into month-long lockdown to fight coronavirus
Coronavirus - How To Lift Lockdowns And Why We Should All Wear Masks
A Medical Worker Describes Terrifying Lung Failure From COVID-19 — Even in His Young Patients
Coronavirus: World Leaders Now In Panic Mode
The time to adopt China's heavy-handed tactics was weeks ago. At this point, the virus' spread is assured; we can only play to slow its rate now.

## Intelligence/security/internet/cyberwar ##
MEK: Defectors Tell of Torture and Forced Sterilization in Militant Iranian Cult
The U.S. Space Force's New Mission? Protecting 5G

## Japan ##
Heavy rain could cause decontamination waste leak (Fukushima)
Japan's growing dependence on coal
Japan's decision to build 22 new coal-fired power plants makes it an outlier among G7 nations who are moving away from coal. Japan's coal power plants will exacerbate climate change, which is already predicted to severely impact Japan.
Masayoshi Son's empire wobbles as virus hits debt load
SoftBank plans $41 billion of asset sales to expand buyback and cut debt
Team Canada won't send athletes to Tokyo if Olympics are held this summer
IOC member says 2020 Tokyo Olympics will be postponed because of coronavirus pandemic
Japan to ask travelers from U.S. to self-quarantine for 14 days
Norway says should not send athletes to Olympics unless pandemic under control

## China ##
More than 500 Cinemas Reopen in China as New Virus Cases Near Zero
Coronavirus: China braced for second economic shock wave as Covid-19 controls kill demand
Robot designed in China could help save lives on medical frontline
China's Housing Bubble Bursts: Evergrande Cuts Earnings Guidance By 50%

## UK ##
UK Prime Minister Boris Johnson orders Britons to stay at home to halt spread of coronavirus
UK scientists to track mutations in coronavirus to map spread
DOJ Wants to Suspend Certain Constitutional Rights During Coronavirus Emergency
The Department of Justice has secretly asked Congress for the ability to detain arrested people "indefinitely" in addition to other powers that one expert called "terrifying"
Power Grab
It didn't take long for the most opportunistic, nefarious and corrupt actors in the U.S. to turn a pandemic crisis into another massive power grab attempt.
Trillion-dollar US economic rescue package crashes in Senate
JPMorgan Chase and Citibank Have $2.96 Trillion in Exposure to Credit Default Swaps
GE Aviation lays off 2,600 employees as demand for commercial engines wanes in crisis
A 'bailout' for Main Street? Fed says it is on the way
Teens reportedly coughed near grocery store produce for video, Virginia police say
Trump fires off tweets as US tackles coronavirus, including messages supporting rollback of guidelines to mitigate spread
This was the fastest 30% sell-off ever, exceeding the pace of declines during the Great Depression
Fed bombards credit markets with limitless pledge, but investors barely respond
• Coronavirus
US needs more protective equipment for health-care workers as coronavirus cases set to rise
Lack of enough personal protective equipment such as respirators, eye protection, gloves, and gowns for medical staff is a source of "major frustration," according to Richard Martinello, associate professor of medicine (infectious diseases) and of pediatrics at the Yale School of Medicine.
Coronavirus forces states to order nearly one in three Americans to stay home
Amtrak to cancel Acela Express trains in Northeast as coronavirus reduces demand
Covid Tracking Project: How Long to 1 Million US Cases?
Sen. Rand Paul kept working for six days after virus test
U.S. now has 3rd-most coronavirus cases, trails only China and Italy
"I want America to understand this week, it's going to get bad," U.S. Surgeon General Dr. Jerome Adams said Monday.
Widespread coronavirus testing in US is 'weeks, if not months, out,' says CEO of test manufacturer Roche

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