Thursday, April 30, 2020


News Links, May 1, 2020

## Global Ponzi meltdown/House of Cards/global cooling/deflationary collapse ##
Italian Car Sales Plunged 98% In April
Coronavirus: more than 1 in 5 Singapore firms looking to slash jobs
With European economy in record drop, central bank gives aid
Millions of Americans can't afford food, rent and other basics, report finds
Italy's credit rating downgraded to one notch above junk by Fitch
Shanghai gold boss wants super-sovereign currency for post-crisis times
The president of the Shanghai Gold Exchange (SGE) called for a new super-sovereign currency to offset the global dominance of the U.S. dollar, which he predicted would decline long term, while gold prices rally.
Renewed Calls to Dethrone the Dollar

## Airline death spiral ##
Austria says it might demand Lufthansa stake for Austrian Airlines aid
Airbus in talks with French state over possible aid: CEO
Virgin Australia has 20 potential buyers, deal seen by June: administrators
Democratic lawmakers call for federal action to require masks on planes
Italy's airport lobby says social distancing on planes not sustainable
American, Delta will require passengers to wear face masks, joining other airlines in guarding against coronavirus
Ghostly airports but easy security checks: air travel in the time of the virus
JAL net profit falls nearly 65%

## Fault lines/flashpoints/powder kegs/military/war drums ##
Oil Pirates Have A New Favorite Hotspot
Britain's new carrier Queen Elizabeth sets sail, prepared to train amid pandemic
China's Navy Could Have 76 Submarines by 2030: Report
The Chinese navy's submarine force isn't getting much bigger. But it is getting a whole lot better. That's the conclusion of the U.S. Congressional Research Service's latest report on Chinese military power.

## Global unrest/mob rule/angry people/torches and pitchforks ##
Small protests break out in Lebanese cities in third night of unrest

## Energy/resources ##

## Environment/health ##
Thousands of miles of planned Asian roads threaten the heart of tiger habitat
Fortunately for the tigers, economic collapse will prevent much of this road construction. -- RF
• Coronavirus
Coronavirus patients discharged from hospital could still carry the virus deep in their lungs, undetected by conventional testing methods, a Chinese study has found.
US intel says virus not manmade, still considers Chinese lab
US intelligence agencies are debunking a conspiracy theory, saying they have concluded that the new coronavirus was "not manmade or genetically modified."

## Intelligence/security/internet/cyberwar ##

## Systemic breakdown/collapse/unsustainability ##
The Pandemic Is Deepening America's Many Divides
Limits to Growth: The most accurate model-based prediction of all times
Densely populated cities are at the frontline of the contagious outbreak, with the most vulnerable likely to be hardest hit

China software, retail sectors decimated
Coronavirus lockdown lands double-digit blow to revenue in key consumer markets, but gaming surges as locked down population turns to digital, mobile fun to relieve boredom

No income and number 88,000 in line: This is what it's like to be unemployed in America
Hundreds protest in Michigan seeking end to governor's emergency powers
• Coronavirus
Mayor: LA 1st major US city offering all residents tests
The city of Los Angeles will offer free coronavirus testing to all residents regardless of whether they have symptoms

Wednesday, April 29, 2020


News Links, April 30, 2020

## Global Ponzi meltdown/House of Cards/global cooling/deflationary collapse ##
The Coming Greater Depression of the 2020s (Nouriel Roubini)
Roubini lists "ten ominous and risky trends" leading to a "Greater Depression." While I agree with him on these factors, his list does not include net energy decline, which is the most decisive. The decline in the amount of net energy that economies can harness guarantees that there cannot be a recovery. It's all downhill from here. -- RF
Life Under Draconian Lockdown: I Can Barely See the Light at the End of this Long, Dark Tunnel
The process of reopening Spain has been dubbed, rather ominously, "Operation New Normality."
With Superfluous Demand in Free-Fall, What's the Upside of Re-Opening a Small Business?
Since superfluous demand was the core driver of most consumer spending, and that demand is in free-fall, what's the upside of re-opening?
US-China decoupling to be accelerated by tightening of technology export controls, experts say
Germany Sees Output Shrinking 6.3% as Confidence Collapses
Brazil unemployment insurance claims jump as coronavirus impact hits
Gold Surges To New All Time Record Highs in Euros, Pounds and Most Currencies

## Cut, baby, cut! ##
Lyft lays off 17 percent of workforce as pandemic reduces demand
Juul plans to cut a third of its workforce, reports
Boeing will cut 10 percent of workforce, says federal support "critical"

## War on cash/cashless society/cryptocurrencies ##
Coronavirus 'will hasten the decline of cash'

## Airline death spiral ##
AirAsia will not take jet deliveries this year, revisiting Airbus order book
Boeing eyes major bond issue to raise funds - sources
Boeing to shrink workforce, raise cash as coronavirus slams jet industry
Airbus first-quarter core profit plunges 49% as coronavirus crisis starts to bite
Berlin airport given OK to open this fall after 8-year delay

## Fault lines/flashpoints/powder kegs/military/war drums ##
Israel Expected to Seek Double US Aid, Early Delivery of Funds
US to recognise Israel's sovereignty over West Bank: State Department
Russia slams US arguments for low-yield nukes
Global Coronavirus Ceasefire Is Gaining Ground
Why the US withdrew its bombers from Guam

## Global unrest/mob rule/angry people/torches and pitchforks ##
Amazon, Walmart, FedEx, Instacart, Target, And Whole Foods Frontline Workers Plan Walkout Strike
Riots in crisis-hit Lebanon reflect growing poverty, despair

## Energy/resources ##
The Death Of U.S. Oil
It's game-over for most of the U.S. oil industry.
I urge you to read this whole article to see how dire the situation is. -- RF
How Bad Are Big Oil's Earnings?
Crashing Fuel Demand Leads To Large Loss For This Big U.S. Refiner
U.S. refiner Valero Energy Corporation reported on Wednesday a net loss of $1.9 billion for Q1, compared to a profit for the same period last year, after it took a $2-billion hit in the value of its inventory.
Oxford Endowment Ditches Fossil Fuels in 'Historic' Decision
There's nothing wrong with dumping fossil fuels, but the expectation that renewables will take up the slack is sorely misplaced. -- RF
How sand transformed civilization
Another Big Shale Driller Stops Operations In The Bakken
After Continental Resources suspended drilling in North Dakota and started shutting in operating wells, now another company has followed: Oasis Petroleum.
Chesapeake Energy preparing bankruptcy filing

## Got food? ##
Markets for corn evaporate during coronavirus pandemic
Farmers fear USDA's $19B in coronavirus aid won't 'scratch the surface'
Thousands of British workers will need to gather the harvest

## Environment/health ##
Hospitals turning to UV light to disinfect medical gear
Record Ozone Hole Over the Arctic Has Closed
Pandemics will be worse and more frequent unless we stop exploiting Earth and animals, top scientists warn
They warn: "Rampant deforestation, uncontrolled expansion of agriculture, intensive farming, mining and infrastructure development, as well as the exploitation of wild species, have created a 'perfect storm' for the spillover of diseases from wildlife to people."
Timeline of pandemics and other viruses that humans caught by interacting with animals
Decreasing land available for biodiversity offsetting, conservationists warn
• Coronavirus
Coronavirus update: German infection rate ticks higher after reopening moves, offers lesson to U.S. governors
A serious new coronavirus-related condition may be emerging in children
German doctors are nakedly protesting PPE shortages to show how vulnerable they are without protection
WHO is investigating whether coronavirus causes rare inflammatory disease in some kids
Some Covid-19 Links (MoA)
Some patients who survive COVID-19 may suffer lasting lung damage
US, Japan virus graphs show time lost, complacency

## Intelligence/security/internet/cyberwar ##
Alphabet warns of difficult quarter as consumers Google pandemic, not shopping
Chelsea Manning hospitalized after attempted suicide

## Japan ##
Coronavirus infections spread rapidly among Japan's police
Tokyo governor calls for state of emergency to be extended nationwide
Japan governors seek nationwide extension of state of emergency
Japanese gov't to release coronavirus contact-tracing app in May
Firms Cutting Jobs amid Virus Crisis on Rise in Japan
Tokyo confirms 112 new cases of COVID-19 on Tuesday
COVID-19 spread in Japan since March closer to European strain

## China ##
Chinese Cities Advise Against Holiday Travel Amid COVID-19
Coronavirus: China's hi-tech hub Shenzhen suffered record economic contraction in first quarter of 2020
China Bets $600 Billion on Infrastructure to Revive Growth
China drops a Covid-19 gauntlet on Australia
Beijing threatens punitive trade measures to quiet Canberra's rising call for an independent probe into Covid-19's origin
As virus retreats, HK protesters return

## UK ##
Thinktank predicts £800bn hit to economy in UK over next 10 years
UK death toll 27,241, Labour leader Starmer says
English hospital COVID-19 death toll rises 445 to 19,746
Britain's coronavirus testing capacity over 73,000 a day - Raab
Britain has Europe's second highest COVID-19 death toll, new figures show

## US ##
Only about half of Americans are confident they can pay full rent in May: Survey
What Manufacturing Executives Said About Their Business in this Economy
"Builders are wanting extensions on their accounts. Builders are asking for better margins. Buyers are down by 50% to 60%. Employees are scared and do not want to work. Everything we do is taking twice as long."
The new taxes coming to finance all that stimulus spending
Over 50% of department stores in malls predicted to close by 2021, real estate services firm says
Judge allows Nestle to pump more water from Michigan well
Jobless claims may reach 30 million in six weeks as COVID-19 layoffs continue to soar
VW, Toyota delay U.S. production restart, citing supplier concerns
Hertz in talks with creditors to avoid debt default, faces May 4 deadline
Can Macy's Survive this Crisis Without Filing for Bankruptcy?
Dividend Massacre in This Crisis is Already Breaking Records, But it Just Started
Fed's fast and furious reaction to pandemic could grow balance sheet to $10 trillion by early next year
Pentagon's 'Willingness to Kiss the President's Ass' Worries Top Lawmaker
"Holy God. We're About To Lose Everything" - Pandemic Crushes Overleveraged Airbnb Superhosts
• Coronavirus
Fully Open Up Society Now? Really?
U.S. coronavirus death toll exceeds Americans killed in Vietnam War as cases top 1 million
'They're playing Russian roulette': As states reopen amid coronavirus, experts warn of risks
Costs would prevent 1 in 7 in U.S. from seeking COVID-19 treatment
Coronavirus testing chief says 'no way on Earth' US can test 5 million a day, despite what Trump says
Trump, Fauci tout 'good news' from remdesivir drug trial in treating COVID-19
Coronavirus updates: Over 60,000 dead in US
The United States has become the worst-affected country, with more than 1 million diagnosed cases and at least 60,207 deaths.
Most Americans cannot or will not use COVID-19 contact tracing apps: poll

Tuesday, April 28, 2020


News Links, April 29, 2020

## Global Ponzi meltdown/House of Cards/global cooling/deflationary collapse ##
Mideast economies take massive hit with oil price crash
HSBC's first-quarter profits drop by nearly half as coronavirus hits
Australia is heading into its deepest downturn in almost 100 years

## War on cash/cashless society/cryptocurrencies ##
War on Cash Kicking Into Overdrive

## Airline death spiral ##
JetBlue, Delta seek U.S. OK to suspend flights to 25 U.S. airports
Boeing forecast: Air travel may not bounce back for years; aircraft demand falling
Boeing 737 MAX expected to remain grounded until at least August: sources
JetBlue will require passengers to wear masks, other airlines will provide them for travelers amid coronavirus
Embraer takes Boeing to arbitration over failed deal as Brazil eyes China tie-up
British Airways considers slashing about 800 pilot jobs: Sky News reporter
Germany agrees on Lufthansa rescue package worth 9 billion euros: Business Insider
Lufthansa may seek creditor protection alongside Berlin rescue talks
Airline SAS cuts up to 5,000 jobs due to pandemic
Norwegian Air says most of fleet will stay grounded until 2021
Southwest cuts Boeing jet deliveries after first quarterly loss in nine years
ANA net profit plunges 75%

## Fault lines/flashpoints/powder kegs/military/war drums ##
The Army's artillery branch, neglected over 20 years of hunting guerrillas, is being revived as the long-range striking arm for multi-domain warfare against Russia and China.
Turkey's Economic Troubles Give Putin Another Chance To Squeeze Erdogan

## Energy/resources ##
Oklahoma Calls On Trump To Declare COVID-19 An "Act Of God" To Help Oil Industry
The LNG Market Is "Imploding"
BP's profit tumbles, debt climbs as coronavirus crisis hammers oil demand

## Got food? ##
Tyson chairman warns of 'meat shortages' as industry faces scrutiny for worker safety during coronavirus
Piglets aborted, chickens gassed as pandemic slams meat sector
Surprising Shortage Of Carbon Dioxide Threatens Food And Beverage Industries
Meat shortages: US food supply chains are at a breaking point
US farmers may have to kill millions of animals and create mass burial graves across the heartland because of COVID-19.
Groceries could see meat shortages by end of week
Trump plans to order meatpacking plants to remain open using the Defense Production Act

## Environment/health ##
Jellyfish spotted in Venice canal as coronavirus clear-up continues
Coronavirus lockdown: Animals including flamingos, wild boar and a sea lion venturing to deserted cities
There's a message for humanity here. -- RF
A watery onslaught from sea, sky and land in the world's fastest-sinking city
Jakarta is subsiding at record rates, thanks to decades of unfettered and illegal draining of the city's aquifers for water that have left 40% its land below sea level. Solutions abound, but the scattershot response may not be enough to keep the city above water.
There's a message here, too. -- RF
• Coronavirus
CDC lists 6 new symptoms associated with COVID-19
Global coronavirus cases pass three million as lockdowns begin to ease
Swedish official Anders Tegnell says 'herd immunity' in Sweden might be a few weeks away
MIT: What If COVID-19 Immunity Doesn't Last Long?
Coronavirus outbreak in France did not come directly from China, gene-tracing scientists say
The coronavirus outbreak in France was not caused by cases imported from China, but from a locally circulating strain of unknown origin, according to a new study by French scientists at the Institut Pasteur in Paris.
Putin extends Russia's lockdown for two weeks, prepares to ease in mid-May

## Intelligence/security/internet/cyberwar ##
South Korea maintains Kim Jong Un health rumors are untrue
South Korea says North Korean leader Kim Jong Un may be trying to avoid coronavirus
The US Government's Secret History of Grisly Experiments
Yet we can't afford to overlook the fact that governments the world over, including the U.S. government, have unleashed untold horrors upon the world in the name of global conquest, the acquisition of greater wealth, scientific experimentation, and technological advances, all packaged in the guise of the greater good.
Assange Extradition: Hearing Put Off Until July or November Because of Virus
Dossier Author Christopher Steele Had Previously Undisclosed Meetings With Lawyers For DNC, Clinton Campaign
French contact-tracing app not ready yet, raises liberty issues: PM
Huawei, InterDigital enter licensing pact, end patent litigation; InterDigital surges

## Propaganda/censorship/fake news/alternative facts ##
How a misleading report on Iran from a hawkish 'think tank' made its way to Trump administration talking points
Trump and Biden Trade Hit Pieces: Distinctions without a Difference
The US imperial ship of state is set on a collision course with China and both Democrats and Republicans are on board.

## Japan ##
Bank of Japan adopts unlimited JGB purchases to buoy economy in pandemic
Japan would 'scrap' Games if not held next year: Tokyo 2020's Mori
Nissan slashes full-year results forecast, sees operating loss
300,000 masks sent to pregnant women may be faulty: reports
All pachinko parlors in Tokyo now shut to contain virus
Coronavirus infections in Japan surpass 13,500
Can anything halt Japan's population decline?
The statement about the Japanese (or people in any other country) going extinct is absolute garbage. Fertility rates around the world are dropping, and they will continue to drop until populations stabilize at a level commensurate with energy availability and cost. Of course curves are influenced by various other factors such as economic distortions (plenty of those), war, stupidity, environmental stresses, disease, and what have you. Once a country's or region's population drops to the level that is easily supported by energy availability and cost, people will start procreating again. -- RF
Faster coronavirus test submitted for approval in Japan
Japan is working on a hypersonic anti-ship missile that may be a threat to Chinese navy activities
As Japan fights coronavirus with shutdowns, rats emerge onto deserted streets

## China ##
China could have choked off the Mekong and aggravated a drought, threatening the lifeline of millions in Asia
Coronavirus: Hong Kong to ease restrictions for certain China travellers amid dip in reported cases

## UK ##
Airbus to furlough 3,000 staff in Wales after warning it is 'bleeding cash'
British Airways warns as many as 12,000 jobs to go
Millions of Virgin Media customers hit by internet cutting out
Harry Dunn: Lawyers for alleged killer Anne Sacoolas seek 'resolution' over teenager's death
Scotland's Sturgeon recommends wearing face masks in enclosed public spaces
UK on track for one of Europe's worst virus death tolls

## US ##
The US is not even 'remotely' ready to re-open for business, says outbreak preparedness expert
Hillary Clinton endorses Joe Biden for president
The US will need to spend trillions more as economy takes until 2022 to fully recover: CNBC survey
"Money Is Running Out" – Vegas Struggles To Survive Shutdown
Millions of Americans locked out of unemployment system, survey finds
The $3.8 trillion municipal bond market, rocked by the coronavirus, looks to Washington for help
Extremely Difficult Setup for Trump to Win in November
COVID-19 Disrupts 30% of Americans' Jobs or Finances
Fed expands muni-debt program to cover smaller cities, counties
Freight Trucking Demand Plunges To All Time Lows; Rates Crash And Industry Grapples With Lockdown
Nearly 7% of U.S. mortgage borrowers receiving payment relief, industry survey shows
Mortgage bailout balloons by half a million more loans in one week
Trump and Biden Trade Hit Pieces: Distinctions without a Difference
The US imperial ship of state is set on a collision course with China and both Democrats and Republicans are on board.
• Coronavirus
U.S. coronavirus cases surpass 1 million; N.Y. figures decline
Vice President Mike Pence tours Mayo Clinic without coronavirus mask even though he was told to wear one
Dr. Anthony Fauci warns US could 'be in for a bad fall' if coronavirus treatments don't work
Coronavirus updates: Deaths 'likely to continue to rise' in coming weeks, CDC says
Health advisers to U.S. auto union say masks not enough to shield workers from coronavirus
Dear President Trump, You Need a Lesson in Per Capita

Monday, April 27, 2020


News Links, April 28, 2020

## Global Ponzi meltdown/House of Cards/global cooling/deflationary collapse ##
Japan, Singapore could be the worst-hit Asian economies in the coronavirus pandemic, says Moody's Analytics
Deutsche Bank warns coronavirus could impact its capital target as profit falls from a year ago
InterContinental Hotels: Occupancy at open hotels in low-to-mid 20% range
Wolf Richter Rails Against Mexican Companies that Borrow in Dollars and then Get Bailed Out When it Blows Up, Which is Now

## Cut, baby, cut! ##
Japan's MUFG bank plans more staff cuts, totalling 8,000 by 2023: Yomiuri

## War on cash/cashless society/cryptocurrencies ##
Bitcoin-Mining Machine Maker Ebang Files for U.S. IPO

## Airline death spiral ##
Airbus warns staff on jobs with its 'survival at stake'
No decision yet on state aid for Germany's Lufthansa: minister
Norwegian Air's debt plan sharply dilutes stake of current owners

## Fault lines/flashpoints/powder kegs/military/war drums ##
Global defense spending sees biggest spike in a decade
Pirates are expanding in West Africa, threatening offshore oil storage
Despite Increased International Pressure, Pirate Attacks Continue in the Gulf of Aden
USS Kidd, the second Navy ship with a coronavirus outbreak at sea, heads home to Everett
Israeli PM Benjamin Netanyahu says he is 'confident' US will support West Bank annexation
Israeli Colonists Cut Dozens of Palestinian-owned Olive Trees near Nablus

## Migrants/refugees ##
Russia's stranded migrants lose jobs, rely on handouts and peers for food
"Exporting the virus": Migrants deported by U.S. make up 20% of Guatemala's coronavirus cases
More than 90 migrants picked up in Channel in eight boats
Rohingya crisis: Hundreds of refugees stranded in boats at sea

## Global unrest/mob rule/angry people/torches and pitchforks ##
Riots, escapes and fear as coronavirus hits juvenile centers

## Energy/resources ##
Far out power #1: human fat, playgrounds, solar wind towers, perpetual motion, thermal depolymerization

## Got food? ##
As Food Banks Struggle to Cope with Demand, Desperate Farmers Dump Unsellable Produce
The coronavirus pandemic is shaking America's food supply and production system. And after only a few weeks, it appears much of it is failing the stress test.
World's Biggest Wheat Supply Dries Up When Some Want It Most

PETA: U.S. Marines drinking cobra blood, eating live wildlife risk disease
A Thailand-based military exercise in which animals, including cobras, are killed and eaten raw puts service men and woman at risk of contracting zoonotic diseases, People for the Ethical Treatment of Animals said Monday.
All that self-righteous criticism of the Chinese, and just look at the revolting and dangerous things Americans do. -- RF
• Coronavirus
Only half of UK's sickest coronavirus patients put on ventilators
Evidence grows that many Covid-19 patients do better with non-invasive help
## Intelligence/security/internet/cyberwar ##
South Korean Presidential Aide Says Kim Jong Un Is 'Alive and Well'
I would be surprised if they weren't. But of court the US is likewise spying on Chinese labs. -- RF

## Systemic breakdown/collapse/unsustainability ##
The Crash Has Only Just Begun
Everything, including a rational, connected-to-reality, effective financial system, is on back-order and unlikely to ship any time soon.
Collapse: the way we imagined it, and the way it was.
Why America is cracking up
New book 'American Secession' suggests the US has hit rock bottom with no path up - and that was before the coronavirus crisis

## Japan ##
Japanese destroyer leaves for Middle East despite virus concerns
UK economy will take three years to recover from coronavirus – EY
Report warns that half of all UK consumer spending in 2020 will be delayed or lost completely
America's Super-Rich See Their Wealth Rise by $282 Billion in Three Weeks of Pandemic
America's billionaires have accrued more wealth in the past three weeks alone than they made in total prior to 1980.
Third Major Transfer From the Middle Class to the Wealthy
For the third time in 20 years, the Fed has targeted the middle class for the benefit of the wealthy.
Importantly, cleaning products meant for surfaces should never be used on produce.
What constitutes "too big to fail" keeps getting smaller and smaller. 
• Coronavirus

And finally...

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