Many thanks to my October donor, Cassandra, who suggests this month listening daily to Adagio for Strings (one of the west’s most famous concert pieces) while you read the C & E posts: https://www.youtube.com/watch?v=izQsgE0L450 (If you use the Brave browser it can play in the background even when not on that page, plus no ads!).
“The rise and fall of globalisation: why the world’s next financial meltdown could be much worse with the US on the sidelines…
“Trump – despite all his grandstanding on the world stage – has confirmed what has long been clear to close observers of US politics and business: that the American century of global dominance, with the dollar as unrivalled no.1 currency, is drawing rapidly to a close.”
“Proliferation of private credit raises fears of looming financial crisis…
“We are starting to see the same kind of slicing and dicing of literally everything [as 2008]. Think car loans, think leases on AI data centers, think of bills that are owed from plastic surgery patients – literally everything – and turning it into allegedly relatively safe slices of financial securities.”
“How Bad Could the Private-Credit Crisis Get? Just Look at 1929….
“A few months ago, private credit was a novel new lending source that promised to juice profits and 401(k) accounts. Today, private credit is an insidious new form of financial engineering that threatens to crash the economy.”
https://www.barrons.com/articles/private-credit-crisis-crash-1929-c3547b25
“BlackRock loses $500m on shadow banking blow-up…
“The loss will fuel concerns about the opaque shadow banking industry, which has drawn billions of pounds of investment from major City institutions but is now teetering on the brink of crisis.”
“Federal Reserve plans to shrink board of top banking supervisor…
“The changes come as the Trump administration pushes the Fed and other US financial regulators to ease rules affecting American lenders… The regulatory changes the Fed is considering could enable banks to lower their capital ratios…”
https://www.ft.com/content/279a535b-aa3d-4974-8466-f6b7402fdd12
“Beware the dangers of greed…
“The brain’s relationship with money is strange. Psychologists know that the fear of losing a sum of money is more intense than the pleasure of gaining the same amount. What is less often remarked is that it feels better to anticipate a financial gain than to actually achieve it.”
https://www.telegraph.co.uk/business/2025/10/31/beware-the-dangers-of-greed/
“BREAKING: OpenAI is laying the groundwork for an IPO valued at up to $1 TRILLION. This would be the 2nd biggest IPO in history, only behind Saudi Aramco. [Kobeissi Letter on X]
“Crazy stat of the day: Nvidia’s market cap is now greater than the GDP of every country in the world except US and China. Totally normal.” [Angkur Nagpal]
https://x.com/ankurnagpal/status/1983554669155946652
“Meta to issue bonds worth up to $30 billion.
“Social media giant Meta Platforms (META.O), opens new tab will raise money through bond offerings worth up to $30 billion, it said in a filing on Thursday, as Big Tech rushes to fund the costly expansion of artificial intelligence infrastructure.”
https://www.reuters.com/technology/meta-issue-bonds-worth-up-30-billion-2025-10-30/
“A closer look at the record-smashing ‘Hyperion’ corporate bond sale…
“Earlier this month a company you’ve never heard of issued the largest US corporate bond in history, raising $27.3bn in one gulp. The deal wasn’t just notable for its size and complexity, but for what for it says about the AI boom, the credit cycle and the evolution of public and private debt markets.”
https://www.ft.com/content/d0344253-b0a2-4c6d-8b97-520243678afd
“Oracle Bond Risk Jumps on Concerns Over AI Spending Spree.
“Credit traders are buying protection against Oracle Corp. defaulting on its debt, a trend that Morgan Stanley sees continuing in the near term as the tech giant pours billions into artificial intelligence.”
“Americans are drowning in auto loan debt…
“Auto lending is in turmoil, with delinquencies and defaults rising across income levels and credit tiers. Some 2.2 million cars have been repossessed so far this year — the highest number since the Great Recession.”
https://www.cnbc.com/select/now-could-be-the-best-time-to-refinance-auto-loan/
“Chipotle stock craters as company says young people without jobs can’t afford their food anymore…
“”A particularly challenged cohort is the 25- to 35-year-old age group,” Boatwright said. “This group is facing several headwinds, including unemployment, increased due loan repayment and slower real wage growth.””
“The US job market is in a recession:
“The long-term unemployment rate (jobless for 27+ weeks) hit 25.7% of all unemployed people, the highest in 4 YEARS. When this metric first breached 25% during the FINANCIAL CRISIS, the US was already more than a year into recession.”
[Global Markets Investor]
https://x.com/GlobalMktObserv/status/1983579585431085451
“Largest [freight] capacity purge in history coming.
“The freight industry is experiencing what experts describe as one of the most interesting times ever in freight—though unfortunately, not in a positive way for most participants. Motor carriers and freight brokers across the spectrum are feeling significant pain from weak freight volumes…”
https://www.freightwaves.com/news/largest-capacity-purge-in-history-coming
“Pentagon orders states’ national guards to form ‘quick reaction forces’ for ‘crowd control’.
“A top US military official has ordered the national guards of all 50 US states, the District of Columbia and US territories to form “quick reaction forces” trained in “riot control”, including use of batons, body shields, Tasers and pepper spray, according to an internal Pentagon directive reviewed by the Guardian.”
https://www.theguardian.com/us-news/2025/oct/29/pentagon-memo-quick-reaction-forces
“US will limit number of refugees to 7,500 and give priority to white South Africans…
“The low number represents a dramatic drop after the US previously allowed in hundreds of thousands of people fleeing war and persecution from around the world. The administration published the news on Thursday in a notice on the Federal Registry.”
https://www.theguardian.com/us-news/2025/oct/30/trump-refugee-restrictions-white-south-africans
“Australia’s housing market is turning sub-prime…
“At the same time as the federal government has ignored regulator warnings about high LVR mortgages, thrown caution to the wind, and attempted to socialise the housing bubble, Australian lenders are busy dropping standards.”
https://www.macrobusiness.com.au/2025/10/australias-housing-market-is-turning-sub-prime/
“Rachel Reeves wants Brits investing — just as the City fears an AI bubble…
“Lead policymakers and City of London analysts are increasingly warning of an artificial intelligence-fueled correction in equities just as the U.K.’s top finance minister prepares a major new policy to push Britain’s savers into the stock market.”
“ECB keeps interest rates on hold despite eurozone inflation fears…
“The eurozone economy expanded by 0.2% in the third quarter from the previous three months, according to preliminary data from the European Commission published on Thursday… The ECB rate decision follows a divergence across the eurozone in prices growth.
https://www.theguardian.com/business/2025/oct/30/ecb-interest-rates-eurozone-inflation
“Thousands march in Serbia to mark deadly train station collapse a year ago…
“The roof failure on November 1 last year killed 16 people, including four children, and led to ongoing calls to remove the right-wing populist President Aleksandar Vucic. Protesters have blamed deep-seated government corruption and demanded snap elections, which Vucic has ignored.”
“US begins troop drawdown in Romania…
“This marks the first official acknowledgment from a NATO ally that Washington is scaling back forces on the continent. The move follows a shift in Washington’s strategic priorities announced in February by Donald Trump’s administration, which has been reviewing deployments in Europe amid calls to redirect resources toward the Indo-Pacific.”
https://www.politico.eu/article/u-s-begins-troop-drawdown-in-europe-romania-confirms/
“Trump tells Pentagon to immediately resume testing US nuclear weapons…
“Trump made the surprise announcement on Truth Social while aboard his Marine One helicopter, flying to meet Chinese President Xi Jinping for a trade-negotiating session in Busan, South Korea. He said he was instructing the Pentagon to test the U.S. nuclear arsenal on an “equal basis” with other nuclear powers.”
“Kremlin: We will test nuclear weapons if Trump does…
“Just hours after Russia revealed it tested a nuclear-capable underwater drone on Thursday, Mr Trump ordered the Pentagon to immediately begin testing America’s own nuclear arsenal… Global ban on trials has largely been upheld since 1996.”
https://www.telegraph.co.uk/us/news/2025/10/30/un-kremlin-alarm-test-nuclear-weapons/
“Trump-Xi summit might have ended with fragile tariffs truce but major questions remain.
“The outcome of the meeting is seen as a temporary truce as both sides offer short-term relief while leaving core disputes over trade, industrial policy, and global dominance unresolved.”
“Hegseth Voices Serious Concern Over China’s Naval Activity Near Taiwan…
“The US defense secretary has been lobbying American allies and security partners in the Indo-Pacific for months to boost their defense spending and push back against China’s assertiveness in the region, while warning that greater urgency is needed to prepare for a potential invasion of Taiwan by Beijing.”
“China NBS Manufacturing PMI falls to 49 in October, contraction deepens.
“China’s official manufacturing PMI fell from 49.8 to 49.0 in October, missing expectations of 49.7 and marking the lowest reading in six months. The sector has now been in contraction since April.”
“China housing slump deepens as oversupply drags prices.
“The continued slide in housing prices indicates that underlying market dynamics remain weak, with no end in sight. Of the largest cities in China, only Shanghai and Hangzhou recorded price growth on new housing units above one percent in the year to July, and just five of 70 cities saw any increase at all. Worse still, the second-hand housing market recorded price declines in every major city…”
https://www.asiapropertyawards.com/en/china-housing-slump-deepens-as-oversupply-drags-prices/
“How North Korea will fight back against the South’s nuclear submarine plans…
“U.S. President Donald Trump’s decision to greenlight a South Korean nuclear-powered submarine has paved the way for Seoul to finally develop a prestige asset it has long sought, but also laid the foundation for a new naval arms race with North Korea.”
“Iran rebuilding its ballistic missile program.
“Iran is rebuilding its ballistic missile program despite recently imposed United Nations (UN) sanctions, CNN reported on October 29. Citing European intelligence sources, Iran imported shipments of chemicals used to produce medium-range ballistic missiles in recent weeks.”
“Lebanese president orders army to confront Israeli incursions after deadly raid.
“Israeli troops have killed a Lebanese municipal worker while carrying out a raid in the south of the country… The killing led to widespread anger in Lebanon over repeated violations of Lebanese sovereignty. In the hours after the raid, Israel carried out airstrikes in Labouneh, in south-west Lebanon, and Israeli drones could be heard flying low over Beirut.”
“Israel has erected nearly 1,000 barriers in the West Bank during the war in Gaza, group says…
“While Israel’s military has long imposed movement and access constraints after capturing the West Bank in the 1967 Mideast war, the number of new barriers is unprecedented, residents say.”
https://www.independent.co.uk/news/west-bank-israel-palestinians-hamas-gaza-b2855026.html
“Tanzania shaken by unprecedented protests at ‘sham election’…
“Crowds in several big cities, including Dar es Salaam, the commercial capital, and Arusha, a tourist gateway, chanted for the army to take over the country, in what some describe as the biggest challenge to the ruling party since independence in 1961.”
https://www.ft.com/content/82986876-72e3-42d2-84ab-472a2e55310d
“Hundreds reportedly killed at Sudanese hospital as evidence of RSF atrocities mounts…
“The WHO secretary general, Tedros Adhanom Ghebreyesus, said he was “appalled and deeply shocked” at reports that more than 460 people had been killed at the Saudi maternity hospital, without assigning blame, in a post on X.”
“Sudan’s military expels top UN food aid officials as conflict escalates.
“The WFP said directors of its Sudan operation were declared “personae non grata” and told to go within 72 hours, without explanation. The decision comes days after the paramilitary Rapid Support Forces (RSF), captured the key city of el-Fasher in Darfur from the military after an 18-month siege, which included a food blockade.”
https://www.bbc.co.uk/news/articles/c5yp2v4n1d5o
“U.S. Eyes Striking Venezuelan Military Targets Used for Drug Trafficking.
“The Trump administration has identified targets in Venezuela that include military facilities used to smuggle drugs, according to U.S. officials familiar with the matter. If President Trump decides to move forward with airstrikes, they said, the targets would send a clear message to Venezuelan leader Nicolás Maduro that it is time to step down.”
“More than 130 killed: How did a Brazil raid on a Rio favela turn so deadly?
“…Tuesday’s assault involved 2,500 police and soldiers. Many were waiting in wooded areas – where most of the killings occurred – close to the targeted sites. Red Command fired back at the government forces, sparking scenes of chaos across the two neighbourhoods.”
“Report: Long-term oil supply dwindling, new discoveries needed…
“The report said: “We see the same sentiment echoed by Vicki Hollub, CEO of Oxy: ‘When you have the best discovery that has been made in the past couple of decades [Guyana] producing only enough to cover one-third of the demand in one year, that’s a big issue.’”
“Why ‘green’ finance isn’t always as sustainable as it seems.
“…there’s no consensus regarding what makes a bond green. There is also little clarity around what current environmental, social, governance (ESG) frameworks – which encourage businesses and authorities to disclose and monitor their environmental and social performance – are truly achieving.”
https://theconversation.com/why-green-finance-isnt-always-as-sustainable-as-it-seems-265240
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You can read the previous “Economic” thread here. I’ll be back tomorrow with a “Climate” thread.
The western governments, led by the United States, have been showing their true criminal colors for years now because those in control know that they will never be held accountable because humanity does not have the time left to orgnize effective resistence to be able to hold them accountable.
Thanks for a great month of sharing some world class doomer classical music. Here’s another super doomy piece, this one by Chopin that he wanted to be played at his funeral. It’s only a few minutes long. As one commenter said, “Everyone loves Chopin. They just don’t know it yet.”
The rock n roll version by Jimmy Page (of Led Zeppelin)
https://youtu.be/QATICdf7b-0
The classical version as written, performed by Eric Lu:
https://youtu.be/90wBhBZjAUQ
Cassandra, that was indeed a contrast to listen to and may I add this today I just discovered and really thought it fit the feeling of the times .
Saddest Song Ever, Barber’s Adagio, Theme from Platoon, Andrzej Kucybała conductor
https://www.youtube.com/watch?v=pOsWUA7cK50
@scott-qk8sm
2 years ago
A song for the immense suffering humanity casts on humanity
But I do enjoy an orchestra of violins, very soothing yet somber and sad.
Thanks, VPK! That’s the same piece I posted at the top, but performed by these beautiful young Polish musicians. (I am half Polish, so extra pleased). And 13 million views!
The channel did a good job with the title including “saddest song ever” and “theme from platoon”. The comments from vets (who resonated with the Platoon mention), are heartbreaking. War sucks, humans are insane…and yet a few create beautiful works of art like this. Thank goodness.
Beautiful music. Thanks for sponsoring this, Cassandra.
A veritable treasure trove and smorgasbord of musical delights this month.
On a different note, I used to think that ‘Chopin’ was pronounced choppin.’ Like, choppin’ wood.
Stranger at party: So what kinda things do you do in your free time, ShJjamesz? Zz?
James z: I like listening to choppin’ (Chopin).
Stranger: … [blinks semi-serendipitously. Left cheek twitches. With minimal-maximal gaudacity]
record scratch
Haha oh well. Eventually we learn the correct pronunciation of performers from other cultures. Who hasn’t ever mispronounced something?
The cracks in our global technological-industrial civilization are getting deeper and wider by the minute.
Watch where you step.
Spot on. As today’s thread demonstrates exceedingly well. Humans just cannot get along. Sad that such a pathetic species as we are is destroying everything.
I don’t remember if I posted this here before but…
https://www.thedailybeast.com/sam-altman-oks-ai-porn-weeks-after-sharing-cancer-cure-hopes/
Sam Altman is free to pursue his goal of using artificial intelligence to cure cancer after signing off on another apparent priority: allowing OpenAI to create pornography.
I think this is meant to signal to investors – we are willing to do anything, and I mean anything, to ensure you get your money’s worth. Also worth nothing here that OpenAI started out as a non-profit watchdog for the AI industry. So it went from that, to partial non-profit, to porn purveyor cum cancer miracle worker. Plans change, right?
Gotta be able to pivot to be a successful entrepreneur! As long as you are not helping humans or our ecosystem but rather one or more of pride, greed, wrath, envy, lust, gluttony, and sloth!
For starters, I think excess consumption, armaments, and porn fill the bill.
‘“Cum cancer is caused by Tylenol” … RFK Jr.
As President Slump continues his murderous rampage in the Caribbean, nary a single “news” agency has seen fit to point out the Reagan/Bush Contra alliance in which the administration traded arms to Iran to fund the narco-terrorist Contras, all of whom, per the Slump’s logic, should have been massacred by the very DEA they were being abetted by.
So let’s hear from Reagan ; “Nine Scariest words in the English language: ‘I’m from Trump’s administration and I’m here to help’”.
The ai insanity grows larger everyday. I don’t know if i want cry or laugh at the tech gods. As trump destroys the federal government and the empire eats itself like pizza the hut. The party will end and it will not be pretty this time around. Nothing comes without consequences to those at the top cracks are occurring and they think they can fly off to their island bunkers as the world burns. Good luck finding gas or a pilot to take you. They will be stuck like the rest of us and it will not be pretty.
Thank you all, as ever, for your comments.
My apologies for brevity but my youngest lives for Halloween, so I must help him dress up as a Squid Games character and hit the town for shenanigans…
We decided to watch the original version of Alien tonight to put us in the Halloween mood. When I first saw this movie I was around 20 years old and I loved it. I watched it again around the age of 30 andil for years I counted the movie as my favorite in the horror genre and one of my top 10 movies of all time. But after watching it tonight i found it hard to believe that I ever liked the movie in the first place. The seven crew members were so stupid that I could not wait for the monster to kill the crew members to ensure that their genes do not spread further.
A silver lining to having watched the movie for a 3rd time is now I get to put a different movie in to my top 10 list.
That’s pretty funny. Things can change, eh?
I did watch a scary movie recently that I did like. It was not t0p 10 material but certianly one that I could reccommend. And as far as I can remember one of the few films that I have liked that was made since the year 2000. The name of the film was The Heritic. It stars Hgh Grant.
Interesting. What are your top 10?.
Well since you subject me to torture to get the information from me I will slowly give it up.
4.Fiddler on the Roof
3. Death and the Maiden. Sygorney Weaver stared in this flim. She was also the star of Alien.
2.) Little Big Man. A for runner of the Coen brother’s genre of bizzare comedy and profound drama.
1.) The Assault. There are lots of movies with this title.
The one I am refering to is a 1984 or 85 Dutch production that won the Academy Award in the USA in 1985 or 1986 for best foriegn film. It is based on a book by the Author Harry Mulisch.
That first Alien movie has aged a bit. Aliens still holds up remarkably well, IMO. My off-the-cuff top ten:
Big
Ghost
Pretty Woman
Groundhog Day
Bladerunner
Gladiator
Road to Perdition
1917
Children of Men
Shaun of the Dead
The further one goes down on the list the easier it is to replace one film with another.
So, here are six more films from different catagories.
Tootsie for Comedy
Romancing the Stone for Action
Crimson Tide for Military
Sleepless in Seattle for Romance
The Secret of Oz for Documentary
Every movie ever made based upon an Agatha Christie book for Mystery
Now it is time to put up your list
Curt, my mother took me to see Tootsie when I was very young, and I embarrassed her by asking loudly what a lesbian was, as we exited the cinema. 😂
Thats a cute story.