Thursday, June 25, 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

Wednesday, June 24, 2020



## Global Ponzi meltdown/House of Cards/global cooling/deflationary collapse ##
IMF slashes its forecasts for the global economy and warns of soaring debt levels
World Bank Chief Economist Says Emerging-Market Troubles Top Those of Rich Nations
Canada Loses Its AAA Rating
The decline of the U.S. dollar could happen at 'warp speed' in the era of coronavirus, warns prominent economist

## War on cash/cashless society/cryptocurrencies ##
New Zealand makes its biggest ever asset seizure over alleged vast bitcoin crime ring

## Airline death spiral ##
Lufthansa draws up 'Plan B' to avoid insolvency - source

## Fault lines/flashpoints/powder kegs/military/war drums ##
Trump aides begin discussions on Israel's West Bank annexation plan: sources
Israel's Netanyahu struggles to sell annexation plans
India tells Pakistan to cut embassy staff by half, says will do same
US, Russia End Nuclear Talks, Agree to Second Round
The F-35 Lightning II can't fly in lightning once again
1,000 more U.S. troops to Poland as Trump and Duda discuss NATO's eastern flank
US Military Shuffle from Germany to Poland is Imminent
US military spending to skyrocket over China Sea 'footprint'
Pompeo's UN Move Against Iran Will Fail. Why Is He Still Pressing It?

## Migrants/refugees ##
Rohingya refugees tell Malaysia how dozens perished during four-month voyage

## Global unrest/mob rule/angry people/torches and pitchforks ##
400 National Guard soldiers activated to guard DC monuments amid protests
Trump demands end to flag burning as protests flare again near White House

## Energy/resources ##
U.S. Shale Has Lost $300 Billion In 15 Years
In the 15 years since the first U.S. shale boom, the industry as a whole has failed to return a profit.
With contracts canceled and debts mounting, offshore oil drillers face another shakeout

## Environment/health ##
Johnson & Johnson told to pay $2.1 billion over cancer-causing talc powder
US energy laggards still not Paris compliant: analysis
Bayer settles Roundup lawsuits for $10 billion
37% of U.S. adults have dangerous metabolic syndrome, analysis finds
Siberian heat wave is a 'warning cry' from the Arctic, climate scientists say
? Coronavirus
WHO warns coronavirus still hasn't 'reached its peak' in Americas as global cases near milestone
California reports more than 7,000 coronavirus cases, biggest daily jump so far
Florida reports another record spike in coronavirus cases, up 5.3% in a day

## Intelligence/security/internet/cyberwar ##
Trump, Bolton, and Pompeo: Loathsome Peas in a Pod
Biden And His Ventriloquists Keep Out-Hawking Trump
In a series of truly chilling and ominous tweets, Joe Biden shows us he would dispense with Trump's even minimal non-interventionism and return the U.S. to full-bore aggression.
Twitter terminates DDoSecrets, falsely claims it may infect visitors

## Japan ##
LDP lays groundwork to consider equipping Japan with attack capabilities
The ruling Liberal Democratic Party began preparations Tuesday to establish a team to consider the possibility of the nation possessing the capability to attack enemy bases.
Office cluster pushes Tokyo coronavirus cases to one-and-half-month high: NHK
China's COVID-19 Vaccine Makers Are Going Abroad for Human Trials
With dwindling coronavirus cases at home, Chinese biomedical companies are cooperating with Brazil and the UAE for phase three clinical trials.

Tuesday, June 23, 2020


News Links, June 24, 2020

## Global Ponzi meltdown/House of Cards/global cooling/deflationary collapse ##
Massive Credit Losses to Hit European Banks in Q2 and into 2021, Particularly When Debt Moratoriums Are Lifted
Canada's Oil And Gas Industry Is Critical To Its Economic Survival
EU countries may bar U.S. travelers because of coronavirus failures: NY Times
European Union countries eager to revive their economies are prepared to bar entry to Americans because the United States has failed to control the coronavirus pandemic, the New York Times reported from Brussels on Tuesday, citing draft lists of acceptable travelers.
Meet BlackRock, the New Great Vampire Squid
Gold pricing soars above recent resistance as second wave of pandemic hits

## Airline death spiral ##
Spirit AeroSystems asks lenders for relief after deeper Boeing 737 production cut

## Fault lines/flashpoints/powder kegs/military/war drums ##
Indian and Chinese military agree to disengage in disputed Himalayan border
Iranian Tankers & the Age of Interdiction
Two forms of interdiction — the steady expansion of U.S. sanctions and our stunning drift toward  unmasked censorship — have begun to intersect.
US-Russia Arms Control Talks Begin
Arms Control Diplomacy Used To Be Serious - It Has Been Replaced With Stupid Stunts
China flag row mars US-Russia nuclear arms talks in Vienna
The US and Russia need to reduce their nuclear arsenals to a level commensurate with that of China in order to reasonably demand that China participate. Further, why doesn't the US insist that Israel participate? -- RF
Israel leverages dubious 'Nuclear Archives' to re-enlist IAEA in campaign against Iran
The International Atomic Energy Agency has once again lent itself to the political interests of the United States and Israel, provoking a needless conflict with Iran
Egypt Is Facing Two Wars - How Will Sisi Decide?
Democrats say U.S. withdrawal from Open Skies Treaty may be illegal
North Korea suspends military action plans against South Korea: KCNA
U.S. navy ship navigates near Venezuelan coast after Iranian cargo ship arrives

## Energy/resources ##
The Surplus Energy Economy
Energy, not money, makes the world go around. -- RF
U.S. LNG Exports Crash By More Than 50%
Shale Giant On The Brink Of Bankruptcy Receives Federal Lifeline

## Environment/health ##
A town in Siberia just reached a record-high temperature of 100 degrees
U.S. beekeepers saw unsually high summertime colony losses in 2019
U.S. court blocks California cancer label on Bayer's Roundup weed killer
Wildlife scientists examine the great 'human pause'
The Hidden Deaths Of The COVID Pandemic
? Coronavirus
35 COVID-19 cases found in single Air Force unit in Guam
Mexico confirms 4,577 new coronavirus infections and 759 deaths
'In fact, we will be doing more testing': Fauci says he was never asked to slow coronavirus testing
Dr. Anthony Fauci tells Congress parts of U.S. are seeing a 'disturbing surge' of coronavirus infections
COVID-19 spreads quickly in crowded homes, poorer neighborhoods
Brazil judge orders Bolsonaro to wear a mask due to COVID-19
The EU Lifts Its Travel Ban But Not For the US

## Intelligence/security/internet/cyberwar ##
Assange Extradition: '60 Minutes' Gives Assange Fair Shake
The Australian version of the CBS News program '60 Minutes' presented a segment on Julian Assange Sunday night that was missing the usual mainstream media smears and distortions about his case.
One Of The World's Largest Web Tracking Companies Leaks Tons Of Personal Info From An Unsecured Server
Twitter slaps label on another Trump tweet as the platform's scrutiny intensifies

## Propaganda/censorship/fake news/alternative facts ##
Debunking Trump and Corporate Media's WHO/China Coverup Conspiracy Theories
Is Data Our New False Religion?

## Systemic breakdown/collapse/unsustainability ##
False stats cannot hide the collapse

## Japan ##
Environmental shareholder activism comes to Japan as Mizuho faces climate resolution
Japan says U.S. hasn't requested more money to host American troops
45 sickened in toxic blaze at U.S. military base in Okinawa

## China ##
China launches its final satellite to complete its rival to the US-owned GPS system
Beijing reports 13 new COVID-19 cases for June 22 vs nine a day earlier

## UK ##
Britain nearly went bust in March, says Bank of England
UK car industry 'could lose one in six jobs due to Covid-19 crisis'
UK factory output plunges at fastest pace on record, says CBI
UK government's arms export watchdog has been shut down for six months

## US ##
Cities warn of infrastructure spending cuts and more layoffs as coronavirus leaves holes in budgets
More than 700 U.S. cities plan to delay or cancel infrastructure projects because their budgets are drained, according to a National League of Cities survey.
Seattle mayor announces city will reclaim police-free CHOP autonomous zone taken over by demonstrators
Virus is taking big toll on farm county in Washington state
Israel Exports Its Brutal Police Training to the US, and it Shows
13 more J.C. Penney store closings revealed: Department store continues bankruptcy store closures
San Francisco Police Were Ordered To Turn Off Body Cameras in Raid on Journalist's Home

Monday, June 22, 2020


News Links, June 23, 2020

## Global Ponzi meltdown/House of Cards/global cooling/deflationary collapse ##
Four charts show how India's coronavirus lockdown affected its economy
'Total disaster': Phantom billions plunge Wirecard into chaos
Wirecard said on Monday that 1.9 billion euros ($2.1 billion) it had booked in its accounts likely never existed, a black hole that threatens to engulf the payments company and tarnish the reputation of Germany's financial watchdog.
Carnival extends operations pause as cruise industry troubles persist
Greece sees 99% drop in travel revenue during April lockdown
It's Asian economies that are poised to ride out COVID-19 collapse
Gold Drives Toward Highest Since 2012 on Virus Resurgence Concern
The U.S. currency's demand as an 'emergency dollar' could be waning, Deutsche Bank says

## Airline death spiral ##
Latin-America's Airlines Are Crashing, But There May Be No Bailouts. Aeromexico Denies Filing for US Bankruptcy
The AMLO government, which has refused to bail out shareholders and bondholders of large companies, could be on to something: A form of capitalism where investors, not taxpayers, carry the risks.
American Airlines seeks $3.5 billion in new financing
Los Angeles International plans passenger temperature screenings

## Fault lines/flashpoints/powder kegs/military/war drums ##
UN Report: Israeli Demolitions in Palestine Soaring in June
China lays claim to Galwan Valley, blames India for border clash
A naval arms race is gaining speed in the Mediterranean Sea
India plans to buy 33 fighter jets from Russia

## Global unrest/mob rule/angry people/torches and pitchforks ##
Dutch police detain 400 after protest over coronavirus restrictions
Hundreds march in peaceful protests from Miami to SoBe against police brutality

## Energy/resources ##
Shale industry will be rocked by $300 billion in losses and a wave of bankruptcies, Deloitte says
The Oil Countries Suffering Most From The Oil Price Crash
? Coronavirus

## US ##
What Happens When a Mall Goes Dark?
The outlook for malls gets darker and darker.

Sunday, June 21, 2020


News Links, June 22, 2020

## Global Ponzi meltdown/House of Cards/global cooling/deflationary collapse ##
No escaping global trade slump

## War on cash/cashless society/cryptocurrencies ##
New York Fed's 'Bitcoin Is Just Another Fiat' Claim Sparks Controversy

## Airline death spiral ##
Returning tourism won't save airlines from coronavirus
The bad news is piling up for aircraft makers and their parts suppliers – and the white knights they were dreaming of may never turn up
Airbus extends furloughs in UK, Spain in latest effort to tackle COVID-19 fallout

## Fault lines/flashpoints/powder kegs/military/war drums ##
Amid stand-off with China, India faces new low in bilateral ties with Nepal
Kathmandu has approved a controversial new map marking as its territory land currently administered by India, with experts saying China's influence in Nepal has boosted its assertiveness.
1962 India-China war redux?
China no longer thinks that it can afford to take lightly the steady Indian buildup of military infrastructure
Union Votes Strike At Bath Iron Works; Destroyer Fleet At Risk
As delays in getting ships delivered on time worsen, Navy acquisition chief James Geurts said, "It is critical for our Navy that we get ships, we get them on the schedule we contract for them, and that we have high confidence in our shipbuilders to deliver."

## Global unrest/mob rule/angry people/torches and pitchforks ##

## Energy/resources ##
Russia ranks first in gas reserves globally
Russia holds 19.1% of total global proven gas reserves, followed by Iran and Qatar, according to BP's latest report
Global oil demand may have peaked in 2019: Moody's
Why Big Oil Won't Be Buying Up Struggling Companies

## Got food? ##
'There Is No Work Here': Migrant Workers, Some Sick, Head North

## Solutions ##
A Perfectly Sustainable World Is Within Our Grasp
But we need to liberate ourselves from the wishful thinking that we can live as extravagantly as we do now. -- RF

## Environment/health ##
When humans pull back, other species can flourish. -- RF
Food deliveries add to Thai plastic headache
Waste almost doubled during lockdown with food containers, cutlery and bags clogging canals, rivers and landfills
Python skin jackets and elephant leather boots: How wealthy Western nations help drive the global wildlife trade
? Coronavirus
Trump suggests US slow virus testing to avoid bad statistics
President Donald Trump is suggesting the U.S. should slow down its coronavirus testing effort because robust testing turns up more cases of infection
'The Pandemic Is Accelerating,' Says WHO Chief, Warning of 'New and Dangerous Phase' of Coronavirus Crisis
That suggests the virus appeared in Italy around the same time it was first reported in China.
The study found that hydroxychloroquine, which President Donald Trump has frequently touted a possible treatment, did not provide any benefit to the patients, even though it did no harm, NIH said in a statement.

## Intelligence/security/internet/cyberwar ##
A field guide to Trump's dangerous rhetoric
Putin On World War II
Due to decades of Hollywood propaganda many people in "western" countries believe that the U.S. did the most to defeat the Nazis during World War II.

## Propaganda/censorship/fake news/alternative facts ##
5 Facts BBC's "The Salisbury Poisonings" Forgot to Mention

## Systemic breakdown/collapse/unsustainability ##
Taxpayers Are Footing The Bill For 100-Year Old Oil Wells
The number of non-operational orphaned wells could skyrocket at a time when the oil industry is in danger of entering structural decline
'A culmination of crises': America is in turmoil, and a mental health crisis looms next

## Japan ##
Mitsubishi UFJ to ban financing for production of nuclear weapons

## US ##
Local politicians in Washington, D.C. claim a $1.5 billion budget deficit due to the coronavirus pandemic. So, they're lobbying Congress for a two-year $3.15 billion bailout.
West Va. city debuts former Marine Corps Mine-Resistant Ambush-Protected vehicle amid policing debate

Friday, June 19, 2020


News Links, June 20, 2020

## Global Ponzi meltdown/House of Cards/global cooling/deflationary collapse ##
ECB's Lagarde urges quick EU recovery plan as economy in 'dramatic fall'
Air freight rates head back to earth as virus-driven boom cools
An air cargo boom driven by demand for protective gear against the coronavirus has peaked and rates, while still 50% above normal levels, are falling in a worrying trend for airlines relying on freight revenue in the absence of passengers.
JAL to raise ?500 bil to secure financial base

## Fault lines/flashpoints/powder kegs/military/war drums ##
4 rockets hit Baghdad's Green Zone in challenge to Iraqi PM
Washington Complains: China is Doing What We Always Do!
Beijing is using threats and aid to pressure other governments to toe the line. Wherever did they get that from?
Crippling new sanctions punish Syrian civilians for US defeat in proxy war
Trump troop cut in Germany fits a pattern of hitting allies
West Bank Annexation Plan Tests Gulf-Israeli Relations
Most Arab states in the Persian Gulf have little choice but to come out solidly against the pending annexations.

## Intelligence/security/internet/cyberwar ##
Deutsche Telekom: We oppose blanket bans on foreign vendors
It would be wrong for Germany to impose blanket bans on foreign vendors of telecoms network equipment, Deutsche Telekom CEO Tim Hoettges said on Friday, in an answer to a question about China's Huawei Technologies.

## Propaganda/censorship/fake news/alternative facts ##
Trump's 'racist baby' tweet gets slapped with 'manipulated media' label from Twitter

## Systemic breakdown/collapse/unsustainability ##
While Washington Dithers, States Put Infrastructure Spending on Ice
China Sees Tanker Traffic Soar As Oil Storage Runs Out

## UK ##
UK debt is bigger than economy for first time since 1963
Government borrowed a record ?55bn in May on back of coronavirus crisis
UK tells telcos to stockpile Huawei gear in face of U.S. sanctions: letter
British security officials have told UK telecom operators to ensure they have adequate stockpiles of Huawei equipment due to fears that new U.S. sanctions will disrupt the Chinese firm's ability to maintain critical supplies, according to a letter seen by Reuters.

## US ##
The narrowing of the defense-industrial base has reached critical levels
Fed Ends QE, Total Assets Drop. Liquidity Injection Ends
The Big Shift: Fed shifts to propping up consumption rather than asset prices.
Trump Says 'Decoupling' From China on the Table
The Police Weren't Created to 'Protect and Serve.' They Were Created to 'Maintain Order.' A Brief Look at the History of Police in America
For the Rich to Keep Getting Richer, We Have to Sacrifice Everything Else
They're hoping the endless circuses and trails of bread crumbs will forever distract us from their plunder and the inequalities built into America's financial system.

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