Huge thanks to Gerry for being this month’s sponsor. He has asked me to post the following: Still alive in ’25 – we’re all in this together! Find supportive community and resources at postdoom.com (founded by Michael Dowd; RIP).
“Price of new Trump crypto meme coin soars ahead of inauguration. Asset triples in price from $20 per token to more than $70, with at least $24bn in trading as of Sunday morning…
“The speculative nature of crypto assets has incited concerns over a potential bubble, where political endorsements and support far inflate asset prices beyond fundamental values and do not reflect the risks associated with investments.”
https://www.theguardian.com/us-news/2025/jan/19/trump-crypto-meme-coin
“Melania Trump launches her own cryptocurrency…
“”The Official Melania Meme is live! You can buy $MELANIA now,” she posted on the social platform X, external on Sunday… Trump had previously called crypto a “scam” but during the 2024 election campaign became the first presidential candidate to accept digital assets as donations.”
https://www.bbc.co.uk/news/articles/c98y47vrv2jo
“‘Trump’s promise to strike down the Basel Accords has the banking industry elated’…
“Conceived after the 2008 banking crisis by the major central banks, they are designed to require banks, especially the biggest, to build up a sufficient capital cushion against the loans they grant, so as to be able to react in the event of a severe blow.”
“The $58 trillion shadow hanging over Trump’s return…
“The debt ceiling is an absurdity, given that it relates to borrowings for spending already approved by Congress, but has become a fulcrum for the leverage for spending cuts fiscal conservatives try to exploit every time US debt levels approach it.”
“Trump versus the bond market: president-elect’s campaign rhetoric puts investors on edge…
“Trump’s tax plans have investors worried about the US’s already ballooning federal budget deficit. Fuelled by Joe Biden’s Inflation Reduction Act (IRA) investment spree, the federal deficit reached $1.8tn (£1.5tn) in 2024, while the US’s overall debt pile – at more than $35tn – is worth 123% of GDP.”
“Trump Triggers a Crisis in Denmark—And Europe [over Greenland]…
“What did Donald Trump say over the phone to Mette Frederiksen, the Danish prime minister, on Wednesday? I don’t know which precise words he used, but I witnessed their impact… In private discussions, the adjective that was most frequently used to describe the Trump phone call was rough. The verb most frequently used was threaten.”
“Why Europe will struggle to buy more US gas.
“Donald Trump has threatened the EU with a trade war unless it buys more US oil and gas. But despite Brussels signalling openness to the idea, it has no power to buy… The underlying issue is the bloc’s inability to wean itself off cheaper Russian fossil fuels.“
https://www.ft.com/content/e33d9eec-b34c-4afc-8948-dda91ccbb70d
“A day in the life of blackout Britain: how net zero electricity rationing would play out…
“… few days ago, the UK came closer to losing power than it has done for years. The first warning came on Tuesday when the National Energy System Operator (Neso) issued an alert predicting a major shortfall in power for next day.”
“Wages stagnant since 2008 as economy faces downturn [UK].
“Workers across Britain have suffered from stagnant or falling wages since 2008, according to research, amid fears that the weak economy poses a further threat to living standards… It comes amid growing fears of a recession this year…”
https://www.telegraph.co.uk/business/2025/01/20/wages-stagnant-2008-economy-faces-downturn/
“Germany is main EU target of Trump tariffs, warns economy minister…
“Speaking at a Greens election campaign rally in Munich, Habeck said that the EU country “with the biggest trade surplus [with the U.S.] is Germany — and that is a thorn in Donald Trump’s side.””
“German city plans to make refugees work or lose their benefits…
“Essen’s plan is part of a national debate over whether the country can afford generous benefits in the midst of an economic slump. A city spokeswoman said: “Work and employment must be put back at the heart of things.””
“Austria is breaching the far right firewall, again…
“…the party [has] hardened rather than moderated its positions, embracing such illiberal notions as the “remigration” of immigrants and Austrians of foreign ancestry and employing rhetoric used by the Nazis.”
https://www.ft.com/content/ddac909f-6ced-44ef-a082-a494142f445b
“Far-right Romanian party leads protests against cancelled presidential election…
“”We continue to protest because the usurper president and the traitorous government refuse to listen to the people! They have not given us any answers, they have not taken any measures!” AUR leader George Simion wrote on Facebook on Saturday.”
“Russia is rearming faster than first thought for a potential attack on NATO, Germany’s military pointman on Ukraine has warned.
“On the eve of Donald Trump’s inauguration as US president, Maj Gen Christian Freuding said that Russia had already replaced missiles and tanks lost in its invasion of Ukraine.”
“Sweden deploys troops near Russia’s border for a NATO mission…
“The military was transferred to Latvia by sea in secrecy. They will be stationed there for 6 months to guard the border with the Russian Federation. Globally, the goal is to “deter Russia from challenging NATO’s territorial integrity.””
https://news.az/news/sweden-deploys-troops-near-russia-s-border-for-a-nato-mission
“NATO and the European Union are beefing up their resources in Kosovo amid rising tension in the Balkan nation ahead of February 9 parliamentary elections.
“The Western military alliance said it has sent 200 additional Italian soldiers to bolster the NATO-led KFOR peacekeeping mission, which has been in the country since 1999…”
https://www.rferl.org/a/nato-eu-kosovo-serbia-election-kfor/33280519.html
“Professors, lawyers join students in anti-Vučić protests across Serbia…
“Striking students have reported pressure from Serbian state security and Vučić, who has accused the students of receiving money from the West for their protests. Pro-government media have bluntly published personal data of some of the protesters…”
“North Korea condemns Japan’s opening of NATO mission as escalating regional military tension…
“The KCNA also accused Japan of “a war criminal state” and “an anti-peace force,” accusing it of threatening the Asia-Pacific region and the rest of the world through its “admission to aggressive military blocs, undisguised arms build-up and ceaseless war drills.””
https://www.koreatimes.co.kr/www/nation/2025/01/103_390715.html
“Yoon supporters’ courthouse riot deepens South Korean political crisis…
“SEOUL — Impeached South Korean President Yoon Suk Yeol again refused to appear for questioning on Monday, his lawyers said, following an outburst of violence the previous day as his supporters broke windows while storming a court building.”
“Economic alarm bells ring as Hong Kong bankruptcies skyrocket…
“Hong Kong’s streets tell their own story of economic despair: shuttered shops, empty retail spaces, and “for rent” signs have become ubiquitous features of the urban landscape.”
https://www.dimsumdaily.hk/economic-alarm-bells-ring-as-hong-kong-bankruptcies-skyrocket/
“Myanmar airstrike on detention camp kills dozens, armed opposition group says…
“The AA posted on its Telegram channel that a military jet had bombed a detention area in Mrauk-U Township at about 4.45 pm (10:15 GMT) on Saturday, where family members of junta soldiers were being held by the AA.”
“Pakistan launches security operation after surge in violence and sectarian strife…
“Barrister Saif Ali, a spokesman for the provincial government, said the operation became “inevitable” following the surge in violence. He also said authorities are moving some residents to temporary governmental shelter camps…”
“Iran Reveals Deep Gulf Missile Base as Regional Tensions Mount…
“Iran’s state television broadcasted a commission led by Revolutionary Guards chief General Hossein Salami inspecting a new underground naval missile base at an undisclosed location in the Gulf region.”
“Iran-Russia monetary agreement implemented, bank networks connected…
“According to IRIB, Mohammadreza Farzin stated that the monetary agreement between Iran and Russia has been operationalized, with the currencies of both nations being settled based on a mutually agreed commercial exchange rate.”
“Military escalation | 17 civilians killed and injured in Turkish airstrikes on Teshreen dam [Syria]…
“Turkish forces have escalated their airstrikes on the strategic Teshreen dam in an attempt to control it , raising concerns about the potential damage to the dam, which is a vital lifeline providing water and electricity to large areas.”
https://www.syriahr.com/en/353952/
“Palestinians trek across rubble to return to their homes as Gaza ceasefire takes hold…
“The return of the families comes amid looming uncertainty regarding whether the ceasefire deal will bring more than a temporary halt to the fighting, who will govern the enclave and how it will be rebuilt.”
“Yemeni rial hit by Houthi crisis despite Saudi bailout…
“The cheapening of the local currency has led to a sharp increase in the prices of the country’s main export commodities, more than half of the population living on the poverty line and a third in extreme poverty, and high levels of unemployment…”
https://www.yemenonline.info/Economy/8593
“The Houthi group in Yemen announced early Sunday that the US conducted four airstrikes on the Yemeni capital Sanaa.
“The group’s media outlet Al-Masirah said: “Four US airstrikes targeted the Al-Azraqeen area, north of the Yemeni capital, Sanaa.””
https://www.aa.com.tr/en/americas/houthis-claim-4-us-airstrikes-target-yemeni-capital-sanaa/3455185
“Power outages hit army-controlled Sudan after drone attacks.
“Most army-controlled areas in Sudan have been plunged into blackouts following drone attacks on power generation facilities by the paramilitary Rapid Support Forces, government officials and residents told Reuters.”
“South Sudan imposes curfew following violent riots.
“South Sudan on Friday imposed a curfew across the country in the wake of targeted revenge attacks on Sudanese nationals triggered by graphic footage on social media of South Sudanese nationals being killed in Sudan.”
https://english.news.cn/20250118/2d64c0b2437445658989a732aee7b755/c.html
“Mozambique Weighs Restructuring Public Debt After Vote Unrest.
“Mozambique is considering restructuring its public debt after the government lost about 42 billion meticais ($658 million) of revenues in post-election unrest, the southeast African nation’s new finance minister said.”
“BRICS continues to grow. On 17 January, it officially admitted Nigeria as a new partner country.
“Nigeria has the world’s sixth-largest population, with the biggest population on the African continent. Together, the extended BRICS+ group represents 54.6% of the world population.”
https://geopoliticaleconomy.com/2025/01/19/brics-expands-population-nigeria-africa/
“A fuel tanker exploded after flipping over in central Nigeria on Saturday, killing 70 people who had scrambled to take the fuel…
“In 2023, President Bola Tinubu abolished a fuel subsidy… The price of gasoline has increased fivefold in 18 months, leading many to risk their lives to recover fuel during tanker truck accidents.”
“Western Sahara Peace Process Paralyzed by Morocco and Some UN Security Council Members’ Stances…
“The representative of the Polisario Front at the United Nations and coordinator with the MINURSO mission, Sidi Mohamed Omar, affirmed that the peace process in Western Sahara is completely paralyzed…”
“Former Colombian president calls for a military invasion of Venezuela…
““What we want, what we advocate, is an international military intervention to end the dictatorship,” said the former Colombian president before a cheering crowd. In his speech, he took the opportunity to express his support for González Urrutia and María Corina Machado…”
“Over 80 killed in Colombian conflict as guerrilla groups clash…
“Clashes between the National Liberation Army (ELN) guerrillas and a dissident faction of the former FARC in the Colombian region of Catatumbo have left more than 80 dead, 20 wounded, and thousands displaced, according to Norte de Santander Governor William Villamizar.”
“We Are on the Precipice of a Grievance-Based Society…
“Economic fears have metastasized into grievance—this is the core finding of the 2025 Edelman Trust Barometer. We observe a profound shift in popular sentiment, a move beyond political polarization to aggressive advocacy for self-interest.“
https://time.com/7208097/the-precipice-of-a-grievance-based-society/
“Champagne demand slumped last year as consumers across the world felt there was little to celebrate.
“The grim verdict came from Maxime Toubart, president of the Syndicat Général des Vignerons, the growers’ trade union in the French region. He said: ‘Champagne is a barometer of the state of mind of consumers.’“
“The Environmental Impact of Fast Fashion, Explained…
“The industry dries up water sources and pollutes rivers and streams, while 85% of all textiles go to dumps each year. Even washing clothes releases 500,000 tons of microfibres into the ocean each year, the equivalent of 50 billion plastic bottles.”
https://earth.org/fast-fashions-detrimental-effect-on-the-environment/
I rely on donations and tips from my readers to to keep the site running. Every little bit helps. Can you chip in even a dollar? Buy me a coffee or become a Patreon supporter. A huge thank you to those who do subscribe or donate.
You can read the previous “Economic” thread here. I’ll be back tomorrow with a “Climate” thread.
What a truly impressive and scary thread today! As we say a fond (LOL) goodbye to censorship-loving, corrupt, warmongerer Genocide Joe, things will undoubtedly get more “interesting” with Trump. 😬Prepare for impact, everyone!
P.S. Panopticon is that photo actually Palestinians returning to their homes in Gaza? 😱
Cassandra, it is, I’m afraid. The image came from this Al Jazeera article:
https://www.aljazeera.com/gallery/2025/1/19/photos-forcibly-displaced-palestinians-return-to-their-homes-in-gaza
The Time article about a grievance based society was a riot. For those curious about how we got to this, see the movie or book – The Coddling of the American Mind.
And as for the future, the most cringeworthy fact in the article was when they stated that 50% of people approved of spreading misinformation in order to further their own cause. Wow! Just wow! It is truly hopeless folks, hold on for a wild ride.
“The Coddling of the American Mind: How Good Intentions and Bad Ideas Are Setting Up a Generation for Failure is a 2018 book by Greg Lukianoff and Jonathan Haidt.
“It is an expansion of a popular essay the two wrote for The Atlantic in 2015. Lukianoff and Haidt argue that overprotection is harming university students and that the use of trigger warnings and safe spaces does more harm than good.”
https://en.wikipedia.org/wiki/The_Coddling_of_the_American_Mind
It is an intriguing social phenomenon. As a doomer, I am struck by the stark contrast between this cossetted preparation for life and the exceedingly challenging future that awaits.
He has a new one out this year – The Anxious Generation. And while recommending books I’d suggest Inheritance: the evolutionary origins of the modern world by Harvey Whitehouse.
Just to be sure, for the collapse record, do you mean to say “as a doomer,” or as “a boomer”?
Or both?
Haidt and Luianoff’s thesis is absurd.
Doomer, Martin. I’m 70’s vintage, so mid-Gen X. I’m not crazy about the term “doomer”, tbh, because to me it sounds pejorative, implying a pessimism that is extreme and ill-founded – but sometimes it is a helpful shorthand in likeminded circles.
George, Harvey Whitehouse is a new name to me:
“Harvey Whitehouse is an anthropologist whose research focuses on the evolution of social complexity. One of the founders of the cognitive science of religion, Harvey is well known for his theory of “modes of religiosity,” which explains how the frequency and emotional intensity of collective rituals influence the scale and structure of religious organisations.”
https://www.harveywhitehouse.com/
For the “global Communications firm CEO”‘s advert in Time:
“Business has emerged as the default solution on societal issues given that many people believe businesses are more competent (+48 points) and more ethical (+29 points) than their government. But businesses lack the authority to lead alone because views of business ethics plunge as people become more aggrieved. Business has the potential, and much of the publics’ permission, to address societal issues.”
“Business as the default solution” makes sense if you an idiot species about to perish. Business can “address societal issues” in the same way that, as those damned hippies put it, a fish can ride a bicycle.
Go ahead, place your last shred of secular faith remaining in the hopes of business rescuing humanity- they are ones that in your lifetime murdered everything around, but, hey, c’mon, it’s soon to be Super Bowl ad time.
They must mean like Thames Water in the UK doing a bang up job….ummm 🙄
“Thames Water’s owners monetized its valuable infrastructure and steady income stream by creating shell companies that then issued debt to be serviced using money siphoned from the core business… the system allowed companies to make billions of pounds in profits while allowing the nation’s water infrastructure to lapse into disrepair.”
https://www.bloomberg.com/news/articles/2024-12-20/thames-water-in-debt-why-customers-will-pay-the-bill-for-uk-s-water-crisis
Warms the cockles of your heart, doesn’t it? 🙄
Well, Edelman is gonna Edelman, Martin, but I thought some of the findings in the survey were fascinating in the context of a world hitting limits:
“Four preconditions, which have been building for the past decade, have exacerbated these grievances. First is a pervasive lack of belief in a better future.”
That is a belief well-founded for non-elites.
Also, the dates mentioned in the other reports on Edelman’s website caught my eye: “…starting in 2005, we noticed the decline of belief in establishment leaders. Prime ministers, presidents, CEOs, and mainstream media lost their dominant status as opinion formers.”
That is about when conventional crude oil production was peaking.
“Second, the mass-class divide became evident in 2012, with the top quartile of earners trusting institutions much more than the lowest quartile. Now this divide has spread around the world.”
This is when we saw peak coal per capita and a still ongoing flattening of total global energy consumption per capita (with a pandemic dip).
https://www.edelman.com/insights/plummeting-trust-institutions-world-slipping-grievance
Obviously, to suggest a very direct causation would be simplistic but these factors are certainly in the mix.
I don’t understand this whole cryptocurrency contrivance but to be honest I’ve never investigated the details as I’m not interested. It seems on the same plane as trading pokemon cards to me.
Pink Floyd – Money
Edward, I am no expert myself. Always happy to hear some Pink Floyd, though.
Welcome to dumpster fire 2025 let the hunger games resume in full!
🤔I was just thinking about The Hunger Games and how much our current reality could morph into that scenario.
If one owns a smartphone or any other technology that is made in communist China, are they stupid, co- conspirators or communism infused cultists?
Freedom is the right to spend one’s money in a business of their choosing.
Bet this points out hypocrites who aren’t politically happy today but are willfully ignorant of knowing where the profit from their purchasing dollars is going.
https://www.youtube.com/watch?v=3Ggoas9Eji0
Overpopulation’s AGW doesn’t give a damn about anyone’s economic or political situation.
Speaking of Pink Floyd, “Eclipse” should be this species theme song because it is living in a eclipse of the brain .
Or indeed of the heart, TR, if you’ll forgive this rather kitsch slice of 80’s melodrama:
https://www.youtube.com/watch?v=lcOxhH8N3Bo