Monday 16 March 2020

Global headlines - 16 March, 2020

## Global Ponzi meltdown/House of Cards/global cooling/deflationary collapse ##
The Coronavirus Is Killing Globalization as We Know It
In Senate Hearing, Economic Experts Warn Climate Crisis Could Spur Financial Crash Like 2008
Apple to close retail stores worldwide, except Greater China, until March 27
Coronavirus: Major cruise lines suspend operations, U.S. ships brought to halt
Mall Giant Intu Warns of Bankruptcy: First, the Meltdown of Brick & Mortar Retail, Now COVID-19
Local governments end up buying dying malls to keep them from becoming dead zones.

## War on cash/cashless society/cryptocurrencies ##
Bitcoin loses half of its value in two-day plunge

## Airline death spiral ##
Authorities to enforce Trump's new coronavirus travel restrictions at US airports

## Fault lines/flashpoints/powder kegs/military/war drums ##
Fincantieri suspends operations amid coronavirus crisis
Clash of the titans: how the coronavirus became the new China-US battleground
Rather than joining forces to subdue the pathogen, Beijing and Washington have used the pandemic to try to score points against each other


• Coronavirus
Scientists are racing to calculate a crucial measure of the coronavirus' spread. It suggests the virus may be far more contagious than the flu.
Germany tries to halt U.S. interest in firm working on coronavirus vaccine
Berlin is trying to stop Washington from persuading a German company seeking a coronavirus vaccine to move its research to the United States, prompting German politicians to insist no country should have a monopoly on any future vaccine.

## Systemic breakdown/collapse/unsustainability ##
15-minute coronavirus test kits to be sold in Japan from next week
Textile and chemical product-maker Kurabo Industries Ltd. said Thursday that from next week it will begin selling test kits developed by a Chinese firm that can detect the new coronavirus that causes COVID-19 in 15 minutes, far quicker than the current method.
'Last resort' COVID-19 treatment in short supply at Japan's hospitals

## US ##
The Fed, The Virus & Inequality
Recent years have taught us that the official responses to crises will ultimately help Wall Street and the markets, while leaving real people behind again.
Municipal Bond Issuers Halt Billions of Sales in Market Rout
The worst municipal-bond market sell-off on record drove state and local governments to cancel or delay $7 billion of debt sales as yields soared and underwriters balked at bidding in auctions.
• Coronavirus
America has no real public health system – coronavirus has a clear run
Trump’s response has been inadequate but the system is rigged anyway. As always, the poor will be hit hardest
Public health experts were astonished at the scenes, noting that the dense crowds presented the perfect opportunity for coronavirus transmission.
In a country where many individuals, companies, institutions, and local governments are making hard decisions for the good of the nation, the most important actor of them all—the Trump administration—has been a shambolic bonanza of incompetence.

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