“Biden promises new air defenses for Ukraine in forceful NATO speech.
“Joe Biden has announced that NATO countries will provide Ukraine with five new strategic air defense systems as leaders began a summit in Washington where the alliance was expected to declare Ukraine’s path toward NATO to be “irreversible”.”
https://www.theguardian.com/world/article/2024/jul/09/nato-biden-ukraine-air-defenses
“NATO looks at how to make itself ‘war-ready’.
““The biggest cost and the greatest risk will be if Russia wins in Ukraine,” Stoltenberg said… “We cannot let that happen.” The push comes after high-ranking Western military officials – including Germany, Poland and Sweden, stressed that NATO members need to be ready for war within the next decade.”
“Intelligence on Russian sabotage threat prompted increase in security at US military bases in Europe.
“The intelligence the US received suggested that Russia had included US bases and military personnel as options to attack via proxies, the sources said — similar to plots that have been carried out or disrupted across Europe in recent months.”
“Russia’s China envoy slams ‘irresponsible’ West for ‘blackmailing’, touts BRICS bloc.
“Russia’s ambassador to China accused the West of “constant blackmailing and pressure” during a peace forum in Beijing on Sunday, and attempted to position the Brics bloc of major emerging economies as an inclusive force that seeks to shape the future world order.”
“Australia and its allies, including the US and Japan, on Tuesday accused the Chinese spy agency of large-scale cyber espionage, targeting government and business networks…
“In March this year, the US and UK also accused China for state-sponsored cyberattacks which Beijing rejected and said it was itself the victim of such actions.”
“Beijing steps up probe into EU brandy imports as trade tensions deepen after tariffs on Chinese EVs.
“The Chinese commerce ministry will hold a hearing on July 18 to discuss the probe into claims that European producers are selling brandy in China at artificially low prices, according to a statement from the ministry Friday.”
https://edition.cnn.com/2024/07/08/business/china-eu-brandy-import-probe-intl-hnk/index.html
“Saudi Arabia threatened to sell off European debt if G-7 seized Russian assets…
“The veiled threat was passed along from Saudi Arabia’s finance ministry earlier this year to some G-7 counterparts, as the group weighed seizing Russian assets designed to support Ukraine. Saudi Arabia specifically signalled out the euro debt issued by France…”
“The UK and France now have to deal with very uncertain futures…
“The [UK] economy has grown only 1.8 per cent since the 2016 Brexit vote. For context, the US economy has expanded nearly 9 per cent over that period. Living standards have declined and public infrastructure and services have deteriorated badly…”
“Rachel Reeves warns UK public finances in worst state since second world war…
“In her first major speech in the role, the UK chancellor prepared the ground for tough choices on the public finances this year as she vowed to prioritise growth and unblock housing developments and onshore wind farms.”
https://www.ft.com/content/ab7a74a0-3353-4254-b112-b8fd19bf5bd2
“The prime minister and chancellor have been briefed by Whitehall officials that the poor state of Thames Water presents a “critical risk” to the country, the Guardian understands.
“Fears about the company go beyond its precarious financial position and include the management of sites that provide drinking water and sewage treatment for millions of customers…”
“Rwanda says UK migrant deal did not stipulate return of funds…
“British Prime Minister Keir Starmer had announced on Saturday that the plan …was “dead and buried”.London has already paid Kigali £240 million (US$306 million) since former prime minister Boris Johnson first announced the plan in April 2022.”
“France is one accident from calamity…
“The scenario I worry about the most is a sovereign debt crisis between now and 2027. It would be a eurozone crisis on steroids. France falls into the category of countries that are too big to fail, and too big to save.”
“The State-Backed Debt Pile Causing Restructuring Pain in Italy…
“With interest rates likely to remain elevated, more companies that took out state-backed loans are likely to need help with repayments. Some firms… have been delaying the problem by repeatedly asking creditors for covenant waivers and resets on their loans.”
“Top ECB official sounds alarm on rising risks from shadow banking…
“A senior European Central Bank official has said the “remarkable” growth of private funds and other sources of finance outside the regulated banks is the biggest threat to the stability of the Eurozone’s financial system.”
https://www.ft.com/content/3adfcfe4-b4fd-4247-bb8c-1af675369a98
“€130 Billion Nuclear Dream in Europe Meets Financial Reality…
“European nuclear projects are also notorious for construction delays and ballooning costs. In Slovakia, for example, a new unit at the Mochovce site was delayed by a decade and cost twice as much as the projected €2 billion.”
“Parade of Serbian army troops in Bosnia sparks outrage among Muslims.
“Serbian army troops held parades in Bosnia & Herzegovina’s towns of Bratuncac and Prijedor as part of a commemoration of the martyrdom of Serbs in the Podrinje area, sparking fresh unrest in the highly unstable Balkan country.”
“A Chinese man accused of buying spray paint which was used to write the word “toilet” on a controversial Japanese shrine has been arrested, local media reports.
“The incident at the Yasukuni shrine – which honours the country’s war dead, including some convicted of war crimes – sparked outrage in Japan.”
https://www.bbc.co.uk/news/articles/cv2g5nz00vko
“China’s dormant job market inflames anxieties, simmering social tensions to surface…
“The reaction of Chinese social media users to a recent series of violent attacks reflects widespread dissatisfaction over the country’s economic downturn and worsening employment prospects.”
“A scandal over the handling of cooking oil has renewed concerns over food safety in China and cast a harsh spotlight on a major state-owned company.
“An undercover report by the state-backed Beijing News alleged that it is an “open secret” that “to save costs,” tankers used to transport fuel and chemicals are also used to move cooking oil and syrup without any cleaning.”
“India races to build hydro-power plants in region claimed by China…
“The Indian government is pushing projects in the eastern region following reports that Beijing could construct dams on a section of the Brahmaputra river, known as the Yarlung Tsangbo in China, that flows from Tibet through Arunachal Pradesh.”
“India’s climate crisis: New coal mining spreads as heat waves drain hydro dams…
“According to data from federal grid regulator Grid-India, analyzed by Reuters, hydro’s share of India’s total power output fell to a record low of 8.3% during the fiscal year ended March 31…”
“India Poised to Secure Long-Term Uranium Supply From Russia.
“Russia and India are likely to agree on a long-term uranium supply pact for a nuclear power plant coming online in the southern state of Tamil Nadu, said senior officials with knowledge of the matter.”
“New Caledonia on the brink of civil war…
“On 7 July 2024, the French National Assembly elections witnessed a historic victory for Emmanuel Tjibaou, a pro-independence leader… Analysts warn that global tensions and political instability may impact France’s long-term military strategy in the Indo-Pacific, with concerns that French Pacific territories may pursue independence.”
https://eastasiaforum.org/2024/07/09/new-caledonia-on-the-brink-of-civil-war/
“Milei’s absence from Mercosur presidential summit sows doubt about bloc’s future…
“South American free trade bloc Mercosur held its presidential summit on Monday in Paraguay without Argentina’s President Javier Milei, who was in Brazil for a conference of Latin American conservatives. The snub was slammed as “complete foolishness” by Brazil’s leader Luis Inacio Lula da Silva and underlines the political frictions within the bloc.”
“Pristine forests and grinding poverty: why shouldn’t Brazil’s Amapá state embrace oil wealth?
“The state’s dilemma sums up a core problem faced by the president, Luiz Inácio Lula da Silva: how to reconcile environmental commitments with the need for development.”
“In Venezuela, hunger stalks presidential election.
“Venezuela votes for its next president on July 28 – and the dire straits in which many live will be top of people’s minds. Despite a recent economic recovery that has been much touted by the Maduro government, many families are going hungry and depending on aid to feed themselves.”
https://www.reuters.com/world/americas/venezuela-hunger-stalks-presidential-election-2024-07-09/
“Africa, Middle East emerging as battleground for US-China ‘enterprise tech trade war’ — experts.
“While the growing geopolitical tensions between the US and China have not yet erupted into an actual physical conflict, analysts have warned that there are “signposts of a struggle” in the region as the two superpowers fight for dominance…”
“US troops leave Niger base at Niamey…
“US troops have completed a withdrawal from their base in Niger’s capital of Niamey and will fully depart from Agadez in the north before a September 15 deadline set by the country’s military rulers, both countries said Sunday.”
https://www.france24.com/en/video/20240709-us-troops-leave-niger-base-at-niamey
“New Sahel block leaves West Africa more divided than ever.
The creation of a Sahel confederation on Saturday plunged West Africa into an unprecedented crisis that could threaten the free movement of people and goods in the region… On Sunday, ECOWAS warned against the “diplomatic and political isolation” of AES countries and the loss of millions of euros in investment.”
“Thousands of Rwandan Troops Fight in Congo, UN Report Shows…
“Thousands of Rwandan troops are backing a rebellion in eastern Democratic Republic of Congo that has displaced millions of people and brought the two countries to the brink of war, a United Nations report showed.”
“Sudanese refugees hiding in Ethiopian forest to escape bandits and militias…
“Refugees who spoke to Al Jazeera say at least 7,000 people left the camps and some 3,000 are still in the forest where they live alongside “wild animals” like hyenas, scorpions and snakes.”
“Yemen’s Houthi group on Tuesday said they have attacked three ships in the Arabian Sea and Gulf of Aden.
“The targeted ships were “Maersk Sentosa, Marthopolis, and MSC Patnaree,” said Yahya Sarea, the Houthi spokesperson, in a televised statement aired by the Houthi-run al-Masirah TV.”
“Renewed Israeli offensive sees Gaza City health care crumble…
“The resumed military offensive, which forced tens of thousands to flee, has sown chaos among sick and injured Palestinians, as the city’s remaining medical facilities have been caught up in Israeli-ordered evacuation zones while others struggle to get fuel and medical supplies.”
https://www.washingtonpost.com/world/2024/07/09/israel-gaza-hamas-hospitals/
“Inside Israel’s underground blood vault and hospital, as the country prepares for new war with Hezbollah.
“Israel is preparing for war with Hezbollah by storing blood underground amid repeated attacks from across the border with Lebanon. A subterranean car park in Haifa, just 28 miles from the border, has been converted into a five-acre hospital…”
“World’s largest oil company bets on the enduring power of petrol…
“Saudi Aramco says combustion engines will be around for ‘very, very long time’ after Horse Powertrain investment… with growth in electric vehicle sales slowing and trade protectionism rising, the future of ICEs is looking less bleak.”
https://www.ft.com/content/a3019ce4-be91-4dc8-83c5-489f18bf56cf
“America’s reckless borrowing is a danger to its economy—and the world’s…
“How has it come to this? The costs of wars, a global financial crisis and pandemic, unfunded tax cuts and stimulus programmes have all piled up… America’s fiscal mess is home-made. But make no mistake: it is the whole world’s problem.”
You can read the previous “Economic” thread here. I’ll be back tomorrow with a ”Climate” thread.
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Debt, and more debt, war and more war, oil and more oil and coal, refugees and more refugees.
That wraps it up for me today..BAU stumbles along.
Of course BAU, but that photo, or is it an AI deepfake: Modi is in love with Vlad, deeply in love, but Vlad is not giving much overt affection back!
We are existing in an Orwellian controlled society. It is obvious when they present 2 fingers and insist we see four,; well, we know the outcome if the truth is upheld.
Room 101 is from George Orwell’s “1984.” It is a prison chamber used by the Ministry of Love as a last resort to break down those with whom they are “working.” Within Room 101, a prisoner’s worst fears are manifested. For the protagonist of the story, his fear is being trapped and unable to get away from rats.Mar 3, 2023
They need only to show Biden and Trump debating “issues” to me.
Vince, George Orwell wrote ‘1984’ on the neighbouring island of Jura in his final years:
“The conventional wisdom is that Orwell’s years on Jura killed him and almost robbed the world of “Nineteen Eighty-Four.” None of his biographers or friends seem to consider that Jura, despite or because of its harshness, might have extended his life and given him the psychic space to imagine a place utterly unlike it.”
https://aweewalk.com/?tag=orwell-on-jura
Thank you, Justin, Years ago read most of Orwells writings and a few biographies written on him,
Remarkable man and to think of the struggles he endured, Found all enriching and his essay
“Shooting an Elephant “ about his peer pressure moment in Burma was revealing, Also, Down and Out in London and Paris has me wondering this awaits us in the near future. I can go on about more, but sounds you have read most too
“Modi is in love with Vlad, deeply in love, but Vlad is not giving much overt affection back!”
It would be in equal parts hilarious and heart-warming to see such an utterly improbable romance blossom. Would love to see the hive mind trying to adjust to that new reality, as I trawled the morning news. 😂
I wonder who thought ever more people competing for ever diminishing returns on ever depleting resources would ever be a good idea? EVER?!?
A big thank you to Pan for providing todays gobsmacking revelation! Yes, you guessed it, that headline that went “pristine forests and grinding poverty”. Then it hit me. A giant light bulb literally went of in my head. Do you see?
That is the very essence of the total mind-fuck that has destroyed our world.
Think about it. Why do people automatically equate pristine forests with so-called “grinding poverty”? It’s an incredibly pervasive mind-fuck. I can’t count how many times I’ve heard hairless, chattering monkeys parroting the words “less than one dollar a day”
Yes! The almighty dollar! Paragon of wealth and progress! Fuck the pristine forests!
No, fuck you.
A lovely little planet covered in pristine forests is the greatest treasure imaginable for trillions of miles in any direction.
Jerry, I had the same thought about BEAUTIFUL AMAZING pristine forests.
“Why do people automatically equate pristine forests with so-called “grinding poverty”?”
Nate Hagens delves into some of the reasons for this in his ‘Economics for the Future; Beyond the Superorganism’ paper. Status anxiety is one aspect:
“Humans are a social species. Each of us is in competition for status and resources. As biological organisms we care about relative status. Historically, status was linked to providing resources for the clan, leadership, respect, storytelling, ethics, sharing, and community.
“But in the modern culture we compete for status with resource intensive goods (cars, homes, vacations, gadgets), using money as an intermediary driver. Although most of the poorest 20% in advanced economies live materially richer lives than the middle class in the 1900′s, one’s income rank, as opposed to the absolute income, is what predicts life satisfaction.”
https://www.sciencedirect.com/science/article/pii/S0921800919310067
That is a must read article by Nate Hagen, thank you
The west in decline is a complete clown show. Everyday more corruption comes out along with non functional military and they wonder why no one wants to serve. Everyday more climate disasters getting worse a breaking record highs and destroying more infrastructure on a daily basis.
Re the West in decline, even though I was aware that the UK was in effect a post-growth nation and could no longer borrow lavishly enough to pretend otherwise, I was still pulled up by that stat in the eighth article down, ie that our economy has only grown a total of 1.8% over the past eight years. 😱
The upheaval of the pandemic has kind of obscured the shocking extent of that stagnation.
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“A Chinese man accused of buying spray paint which was used to write the word “toilet” on a controversial Japanese shrine has been arrested, local media reports.
Is this really worthy of a serious inclusion considering the many much more important matters, economic or otherwise, that are occurring in the world today?
In the context of worsening Sino-Japanese friction, IMO, yes. This is a major outrage for most Japanese.
I wondered if Tim Groves over on Gail Tverberg’s blog would have a view, as he is resident in Japan, and sure enough:
“The …story made me so angry that I couldn’t resist the urge to go down to the kitchen and smash some china. Only plain breakfast china of course. Not the expensive stuff.”
A few thoughts 🤔
1). I don’t see anything “getting better” anywhere.
2) Is it just me or do all the so called leaders sound like a bunch of little boys fighting on the playground?
3). Why do people want to “win” elections? “Winning”, seems to me, to be the booby prize. All you get is a big pile of poo 💩 to sort through.
4) Meanwhile, in my little corner of the world, there are a lot of construction projects going on, people are buying tons of stuff at Costco and overall our weather hasn’t been all that terrible. A bit more rain than usual and some rivers flooding, oh yeah and a dam failure 😳, but not bad considering the rest of the country or planet.
5) We live in interesting times.
Re “a big pile of poo to sort through.” That’s how I have thought of it since like 2008. That’s why only sociopaths win elections. My best guess anyway.
“Why do people want to “win” elections?”
Of course a whole range of motives drive politicians, ranging from greed to personal vanity to a sincere desire to bring about positive change, but my goodness, incoming governments like the UK’s are inheriting such poisoned chalices now that one really does have to wonder.
Nothing like seeing the misery & guessing the future misery that this species has chosen for it’s self. Every time I try to sing Edwin Starr’s War(What is it good for), my wife answers; Profit & stop singing. In every discussion the first response to any point: Have you followed the money?
I’m almost finished with my list of things 8 billion monkey minds are willing to give up to protect the habitat. So far all the answers are blank. I am totally prepared to lose the existence of this species. The dead cannot do any damage to other lifeforms. I have deer, quail, squirrels & turkeys that think this place is their home & I apologize to them every day for what baboon brains are doing to this Garden of Eden.
Regardless of age, being unfiltered is a gift. I’m on the No Call list & when I get a telemarketer, my response is: “Global warming is going to kill everyone on this planet.” Wonder why my conversations are so short? 😉
TR, I myself, like to bring up the same, climate change and or global warming.
It’s a real conservation killer and the folks drift away….won’t be invited to join in much with others…as someone wrote here a day or two ago..hard to relate to others.
It is weird how minds are molded and it is their strong reality to them…
Yep, pity the suffering life forms that are being crushed out because of the human hoards pursuit of riches…more, more, more..is the cry of a mistaken soul
Thanks for post..I enjoyed it
“It’s a real conservation killer and the folks drift away..” They need to move away faster, I’m afraid of catching intentional, ignorant denial. 😉
When I give a little feed to my animal friends, they never create WMD to kill their family members over food or anything because of overpopulation. They never go around ‘paving paradise & putting up a parking lot.’ Mother Nature deals with their population naturally. I don’t believe that she will be very kind to this snail slime species.
I’m at a loss to understand the words, actions & extremism of the global pop. How much, has all the poison we have pumped into the environment affected mental functioning? I’m not very impressed with the offspring of this species. The best argument for abortion: Look into a mirror. 😉
I listen to a lot of music from the 60s, 70s & 80s & some of the the lyrics had meanings that many missed. “Don’t surround yourself with yourself.” “There’s something happening here.” “One chain don’t make no prison.” “Today’s music ain’t got the same soul,”