Tuesday, March 24, 2020


News Links, March 25, 2020

## Global Ponzi meltdown/House of Cards/global cooling/deflationary collapse ##
Banks struggle to ride to the rescue in Europe's cash crunch battle
IMF: Pandemic to cause global recession
Bombardier halts most operations in Canada due to coronavirus
1929 Redux
"It's Selling Like Toilet Paper": If You Haven't Bought Physical Gold Yet, It's Probably Too Late
Physical silver supply squeeze about to get worse
Unprecedented Demand For Silver Bullion Will Push Prices Higher
A Greater Depression? (Nouriel Roubini)
With the COVID-19 pandemic still spiraling out of control, the best economic outcome that anyone can hope for is a recession deeper than that following the 2008 financial crisis. But given the flailing policy response so far, the chances of a far worse outcome are increasing by the day.
How much of a "recovery" there will be after the coronavirus is beaten back is anyone's guess, but I strongly advise against getting one's hopes up. Keep in mind that industrial civilization is in the decline phase. After World War 2, devastated economies were able to rebuild with astonishing rapidity because they successfully leveraged the unbelievably high net energy of fossil fuels, especially oil. But now the the surplus energy yielded by the fossil fuel energy-supply system — especially oil — is far lower, and still on the decline. As such, our energy "lever" for economic recovery is much smaller than before. I predict increasingly hard times ahead. -- RF

## Airline death spiral ##
U.S. airlines prepare plans to virtually shut down domestic service amid outbreak
Southwest to cut 1,500 daily flights as passenger levels, bookings hit 'unimaginable lows'

## Fault lines/flashpoints/powder kegs/military/war drums ##
"The Coming War On China"  –  Watch John Pilger's Powerfully Relevant Documentary
US, UAE Ignore Coronavirus Risk, Hold Anti-Iran War Games
Troops invade an imaginary Iranian city in drill
The state of nuclear
Nuclear power, and Canada's uranium industry, are struggling to find their place in a green energy future

## Got food? ##
Plant BioInvasion threatens future crops
Coronavirus: Food rationing must be introduced immediately, experts warn government
'Thirty years ago, the UK's food retailers carried 10-12 days of stock – now they have just 24-36 hours of stock'
And now everything is delivered by trucks. Do you see a problem here? -- RF

## Environment/health ##
Wales is Building a National Forest That Will Span the Length and Breadth of the Country
Greek pharmaceuticals starting antiseptic production using bootleg alcohol
• Coronavirus
Latest on the spread of the coronavirus around the world
All countries likely have more cases than they are saying. It's like unemployment statistics: governments want to keep those official numbers as low as possible to make themselves look good. And there are of course many cases that medical authorities just overlook. -- RF

## Intelligence/security/internet/cyberwar ##
Elite hackers target WHO as coronavirus cyberattacks spike

## Japan ##
Coronavirus: China's 2020 growth forecast slashed in surprise move by prominent bank CICC
China International Capital Corporation has sharply downgraded its 2020 growth forecast for China to 2.6 per cent, from 6.1 per cent in January

## UK ##
Eventually, the coronavirus depression will subside. But what will America look like when it does?
• Coronavirus

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