Thursday, June 25, 2020


News Links, June 26, 2020

## Global Ponzi meltdown/House of Cards/global cooling/deflationary collapse ##
The Depression Dominoes Are Toppling
Once you allow your economy to become dependent on extremes of debt, leverage, inequality, legalized looting, monopoly, pay-to-play politics and speculative asset bubbles, a depression is inevitable.
Barcelona's Epic Tourism Boom Is Over, Now the Crisis Begins: My Walk to the Beach
'The money's gone': Wirecard collapses owing $4 billion
Saudi Arabia's Oil Price War Cost The Kingdom $12 Billion In One Month
Impossible to Sugarcoat the Disastrous Unemployment Claims (US)
Gold poised to challenge $1 800 as virus resurgence fans demand
MMT: Not Modern, Not Monetary, Not a Theory

## Cut, baby, cut! ##
Weak demand prompts Macy's to cut 3,900 jobs in push to save cash
Qantas To Cut At Least 6,000 Jobs, Embarks On Three-Year Cost Savings Plan

## Airline death spiral ##
IATA predicts airlines will lose $84 billion in 2020, but agency offers a roadmap for recovery
In April, air travel declined 98% from last year as countries closed their borders in efforts to stem the coronavirus pandemic.
Qantas Cuts 6,000 Jobs And Grounds International Fleet For At Least 12 Months
Coronavirus Hearing: Airlines must take extreme precautions to keep passengers safe
Airlines threaten to ban travelers who refuse to wear face masks

## Fault lines/flashpoints/powder kegs/military/war drums ##
LDP lays groundwork to consider equipping Japan with attack capabilities
Iran, Venezuela Won't Back Down From Resisting US Sanctions
No final decision at White House talks on Israeli annexation moves, U.S. officials say

## Energy/resources ##
Global oil discovered was 7.7 times less than consumption in 2019
It's important to realize how extremely serious this situation is. -- RF
Occidental signals writedown of up to $9 billion on bleak oil price outlook
Russia Develops Drone-Disabling Systems To Protect Oil Facilities

## Got food? ##
Argentina, Brazil monitor massive locust swarm; crop damage seen limited

## Environment/health ##
New Study Finds China and EU Soy Imports Are Increasing Brazil's Deforestation
Researchers reveal changes in water of Canadian arctic
Activists Allege Cover-Up as Toxic Siberian Fuel Spill Reaches Arctic Ocean (Russia)
Is Gaia a Superorganism? No, she is something completely different
• Coronavirus
Coronavirus may have infected 10 times more Americans than reported, CDC says
European Union likely to keep ban on Americans because of coronavirus fears as it reopens its borders
New forecast: 180,000 U.S. deaths of COVID-19 by October. But mask order can save 33,000
Coronavirus: face masks save lives, Japanese study says
Coronavirus: will vaccine deals lead to poorer countries missing out?
World leaders have called for vaccines to be a public good, but many countries are striking exclusive agreements with pharmaceutical firms
"A Mask Is Not A Political Statement. It's An IQ Test."
Record spikes in U.S. coronavirus cases push up hospitalization rates in 16 states

## Intelligence/security/internet/cyberwar ##
Assange Hit With New Superseding Indictment Broadening Computer Intrusion Charges
Is AIPAC Finished?
No conference, guidance, deference, or Foreign Affairs Committee chair
As Russia's Constitution Reform Vote Kicks Off, Election Watchdog Decries 'Manipulative' Process

## Systemic breakdown/collapse/unsustainability ##
COVID-19 and the economy: Where do we go from here?

## Japan ##
Japan may consider first-strike alternative to Aegis Ashore by October
Half of telecommuters in Japan work longer hours than before pandemic: Rengo
Tokyo reports 48 coronavirus cases, topping 40 for second day
Travel Agency H.I.S. to Close One-Third of Outlets in Japan

## China ##
Iraq Considers A String Of Massive Oil Deals With China
Shadow banking back in vogue in China as assets grow for the first time since 2017
China Taps World Bank Official for U.S.-Facing Finance Post: Sources

## UK ##
The UK and Boris Johnson on the Skids
Fears mountains in Scotland and Wales will be overrun as lockdowns eased
And wildlife, which was granted a stay of execution, will be under deadly human pressure again. -- RF
Out-of-work households £1,600 worse off during Covid-19 due to austerity
Royal Mail to cut 2,000 management roles

## US ##
U.S. May Exports Sink to 11-Year Low as Imports Drop
Another 1.5 million US workers file for unemployment insurance
State, local governments need billions more in aid to avert 4 million layoffs, Moody's finds
Business Uncertainty About Sales Goes Haywire
New Mexico restaurant vandalized with racist slurs and white supremacist messages
Harley-Davidson to cut about 140 jobs in United States
U.S. Senate backs bill to punish China over Hong Kong
Is it OK for other countries to punish the US over its treatment of Black Americans? -- RF
Trump cranks up attacks on the Black Lives Matter movement for racial justice
Three North Carolina police officers fired for racist comments calling for 'slaughtering' Black people
Trump eschews face covering, ignoring Rubio urging that everyone 'wear a damn mask'
Court Will Not Block Mary Trump's Tell-All Book on the President

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