Friday, 8 March 2019

Headlines - 02/08/2019

## Global Ponzi meltdown/House of Cards/global cooling/deflationary collapse ##
The US Consumer Just Hit A Brick Wall: Here's Why In 15 Charts
US consumer still the world’s biggest macro risk
Retail sales are increasingly dependent on rising credit card balance, and interest rates on that debt have risen to unprecedented levels
ECB Warns Slowdown Isn't Temporary: Draghi Announces Bold Stimulus Plan
Mario Draghi surprised even the doves with his bold new stimulus plan. It won't help one iota.
Iran's part in US sanctions bypass scheme ready 'this month'
Iran hopes to have its part of a new payments vehicle -- devised to bypass US sanctions -- ready within a fortnight, Deputy Foreign Minister Abbas Araghchi said on Wednesday.
Despite the narrative that the U.S. was in a “soft patch” that has now passed, it is quite clear that the rest of the world is not only sinking, but also sinking fast. There is no such thing, in this interdependent world, as economic decoupling or being immune from troubles abroad.
It becomes clear that it’s the richest 1% who have gained the most - by far. The incomes of the world’s poor have barely budged by comparison.

German bearings maker Schaeffler said it would cut 900 jobs, shut plants and reduce its product range after its 2018 earnings slumped due to weak demand in Europe and China and it warned of a challenging few years ahead for the autos sector.

## Airline death spiral ##
Airline bosses, asked to trade places, reveal tensions of the industry
And one thing they were able to agree on Wednesday was that more weaker airlines would fail in the coming year.
OMG it's another "issue"! I stick with my prediction that "issues" will bring down civilization! -- RF

## Fault lines/flashpoints/powder kegs/military/war drums ##
U.S. will look at ramping up sanctions if North Korea does not denuclearize: Bolton
Erdogan determined to go ahead with Russian missile deal
Turkish President Recep Tayyip Erdogan said Wednesday it was "out of the question" to reconsider a controversial deal to buy a top-line Russian anti-missile system and he might even look at other purchases.
I’d side with rich China over fickle US: Malaysia’s Mahathir
Malaysia will make its own way in dealing with China’s rise and not take cues from Western scaremongering over Huawei and the Belt and Road, says PM
Izvestia: This is what awaits foreign military vessels on Northern Sea Route
Sailing on the route will have to be announced at least 45 days in advance and ships not complying with the rules will be forcibly stopped.

## War on Venezuela ##
With the menu of options shrinking quickly, a Venezuela starvation campaign seems to be on deck. -- RF
"Russia's propaganda playbook" has no place in this event. The Russian comedians merely got Abrams to make a candid admission about the US playbook. -- RF

## Energy/resources ##
Bezos, Bloomberg And Gates Back Revolutionary Exploration Tech
Rich people and Big Capital are needed to find, extract, and consume resources at an even faster rate. -- RF
Sanction the heck out of a major source of your heavy crude, thereby shooting yourself in the foot, then compensate for the shortage by importing oil from a country that supports the country you sanctioned. With confused thinking and planning like this, it's no wonder America's leaders are running their own nation into the ground. -- RF
The first half of this essay makes observations on the limitations of renewables. It's true that renewables are overbilled, and proponents need to stop claiming that the world can switch to renewables and maintain our current lifestyle. But in the second half the author tells us why we need nuclear power. My purpose here is not to get into all the pros and cons, but rather to point out one dangerous flaw in the argument that nuclear is more desirable that fossil fuels and renewables because it causes the fewest deaths. What I'd like to know is, why is it acceptable for anyone to die for a certain technology? This is the so-called "risk assessment" mindset. It's like saying that nuclear technology (or some other technology, or perhaps a certain product, is calculated as being equal to X human lives. And in some cases it's judged as being worth the deaths. This is an ideology that leads us down a dark and dangerous alley. -- RF

Too many other species are occupying "our" land. -- RF
New Warnings on Plastic’s Health Risks as Fracking Industry Promotes New 'Plastics Belt' Build-Out

## Intelligence/security/internet/cyberwar ##
It Was Kim That Walked Away
There are two sides to the story about why the second North Korea peace summit fell apart last week.
Such jobs require sophisticated knowledge and expertise, so training and educating these experts takes a lot of energy. Don't expect all such positions to be filled, ever. -- RF
Is this a good idea? The government would control the networks and have access to all data. This sounds like the accusations against China and Huawei. -- RF
Beijing may not need Huawei ‘back doors’
Expert says US National Security Agency never found Huawei back doors for Chinese intelligence
Top US general in Europe wants to keep China out of 5G networks
With Europe in the early stages of developing their 5G networks, the Pentagon’s top general in the region issued a stark warning March 5: Allies need to keep China out or risk losing the ability to integrate with America’s military.
U.S. officials made list of reporters, lawyers, activists to question at border
Several people on the list told NBC News they were questioned at the border as part of what U.S. border agents called a "national security investigation."

## Propaganda/censorship/fake news/alternative facts ##
This Time the Big Obstacle for Bernie Isn’t DNC Rigging
In the 2020 race it’s the reflexive corporate media spin against the candidate.

One country, two sessions, multiple tweaks
China’s National People’s Congress illustrates undiluted realpolitik
Vodafone says complete UK ban on Huawei would cost it millions of pounds
Vodafone said any move by Britain to bar equipment made by China’s Huawei from all parts of new 5G networks would cost it hundreds of millions of pounds and “very significantly” slow down the deployment of the new technology.

## US ##

And finally...
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