Tuesday, 24 March 2020

Global headlines - 24 March, 2020

## Global Ponzi meltdown/House of Cards/global cooling/deflationary collapse ##
Global economy will suffer for 'years to come' says OECD
Helicopter Money: Short-Term Relief Won't Cure our Financial Disease
The collateral supporting the global mountain of debt is crumbling as speculative bubbles deflate.
Australia and India Lead Wednesday's Selling for an Asia in Recession
There are country-specific reasons why Australia, India and Thailand are leading Asia's plunge, but the whole region is in recession, S&P correctly says.

## Airline death spiral ##
Emirates stops nearly all passenger flights, slashes wages

Worse than 9/11: Defense firms with exposure to commercial market losses cut overhead to the bone
Defense companies with substantial exposure to commercial markets are taking dramatic measures to limit overhead and preserve cash, with one chief executive calling the new coronavirus pandemic "worse than anything we've seen."
US raps France for prisoner swap with Iran

This is especially worrisome, as reduced capex means oil companies are not maintaining or building their reserves. New oil discoveries have been dropping for years, and this exacerbates the problem. -- RF
Contrary To Assertions, Saudi Arabia Can't Endure $30.00 Oil For Long

Don't wait until there are shortages to start growing your own. I guarantee you will not become an instant farmer. -- RF
COVID-19 prompted wealthy to flee to Massachusetts island Nantucket, Hamptons
• Coronavirus
Just When You Thought Things Couldn't Get Worse, Neo-Nazis Are Trying to Weaponize Coronavirus
White supremacists are discussing schemes that use infected "saliva" to target law enforcement agents and "nonwhite" people
Spain moves to extend state of emergency as virus deaths soar
The time to adopt China's heavy-handed tactics was weeks ago. At this point, the virus' spread is assured; we can only play to slow its rate now.

## Intelligence/security/internet/cyberwar ##
MEK: Defectors Tell of Torture and Forced Sterilization in Militant Iranian Cult

## Japan ##
Japan's growing dependence on coal
Japan's decision to build 22 new coal-fired power plants makes it an outlier among G7 nations who are moving away from coal. Japan's coal power plants will exacerbate climate change, which is already predicted to severely impact Japan.
UK Prime Minister Boris Johnson orders Britons to stay at home to halt spread of coronavirus
UK scientists to track mutations in coronavirus to map spread
DOJ Wants to Suspend Certain Constitutional Rights During Coronavirus Emergency
The Department of Justice has secretly asked Congress for the ability to detain arrested people "indefinitely" in addition to other powers that one expert called "terrifying"
It didn't take long for the most opportunistic, nefarious and corrupt actors in the U.S. to turn a pandemic crisis into another massive power grab attempt.
• Coronavirus
US needs more protective equipment for health-care workers as coronavirus cases set to rise
Lack of enough personal protective equipment such as respirators, eye protection, gloves, and gowns for medical staff is a source of "major frustration," according to Richard Martinello, associate professor of medicine (infectious diseases) and of pediatrics at the Yale School of Medicine.
U.S. now has 3rd-most coronavirus cases, trails only China and Italy
"I want America to understand this week, it's going to get bad," U.S. Surgeon General Dr. Jerome Adams said Monday.

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