Tag: Doomsday scenarios

Brexit: Brexit Minister Raab Resigns; May to Face Hostile Parliament. Update: Two More Resignations, Bringing Total So Far to Four

It would be nice to go into some of the details of the Brexit agreement, but one point seems not to have gotten the attention it warrants. PlutoniumKun pointed out yesterday that May was putting a lot of emphasis on the draft status of the deal. Later in the day, […]

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Australia’s New Grain Deliveries Plunge Due to Drought

Normally, I’d relegate news about Australia’s agricultural output to Links, but I thought this sighting was worth elevating to a post in light of Lambert’s discussion of the Jackpot and California’s fires yesterday. As you’ll see, the fall in Australia’s new grain deliveries is dramatic. Even when I lived in […]

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UN to Launch Talks on Treaty to Regulate High Seas

By Jerri-Lynn Scofield, who has worked as a securities lawyer and a derivatives trader. She is currently writing a book about textile artisans. Talks begin in New York tomorrow to negotiate a conservation treaty to regulate the high seas, in the first of four sessions, with a 2020 timetable set […]

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Don Quijones: No Other Banks Are This Exposed to Turkey, Argentina, Brazil…. Emerging Markets Haunt Spanish Banks

By Don Quijones of Spain, the UK,and Mexico, and editor at Wolf Street. Originally published at Wolf Street Almost exactly six years ago, the Spanish government requested a €100 billion bailout from the Troika (ECB, European Commission and IMF) to rescue its bankrupt savings banks, which were then merged with much […]

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White-Collar Criminals Got Off Scot-Free After the 2008 Financial Crisis — and That Helped Fuel President Trump’s Rise

By Marshall Auerback, a market analyst and Research Associate at the Levy Institute. Originally published at the Independent Media Institute n the aftermath of the worst financial crisis since the Great Depression, bank officials at HSBC admitted to the Department of Justice that the bank violated the Bank Secrecy Act, the […]

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ECB Fears Contagion from Turkish Lira Collapse, Bank Stocks Plunge

Yves here. Apparently some Fed insiders have been arguing for more measured rate increases due to the fact that hot money exiting risking emerging economies could put them in a world of hurt, witness that Argentina and Pakistan have gone tin cup in hand to the IMF. But Turkey sits in a critically important location, […]

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Puerto Rico: 1427 Hurricane Maria Deaths

By Jerri-Lynn Scofield, who has worked as a securities lawyer and a derivatives trader. She is currently writing a book about textile artisans. The government of Puerto Rico finally acknowledged in Transformation and Innovation in the Wake of Devastation,a report posted online and filed with Congress Wednesday, that an additional 1427 people died in the four months […]

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73 Years After Atomic Bombing of Japan: Nuclear Threat More Immediate Than Ever

Jerri-Lynn here. In this Real News Network interview, conducted to commemorate the 73rd anniversary of the second atomic bomb drop on Nagasaki, historian Peter Kuznick reflects on how the nuclear threat is more immediate now than at any other time since the 1950s. How did we get here? Kuznick says that people should go back […]

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Bill Black: Mankiw Whiffs on “Learning the Right Lessons from the Financial Crisis”

Yves here. Lambert sent me the ridiculous article that Bill Black debunks, and I may have a go at it myself. The short version is Greg Mankiw based his piece on a book by Lawrence Ball, The Fed and Lehman Brothers, which makes the factually challenged claim that Lehman was suffering a mere liquidity crisis, […]

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Surprise, Surprise: Energy Department LNG Export Study Draft Ignores Climate Change

By Sharon Kelly, an attorney and freelance writer based in Philadelphia. She has reported for The New York Times, The Guardian, The Nation, National Wildlife, Earth Island Journal, and a variety of other publications. Prior to beginning freelance writing, she worked as a law clerk for the ACLU of Delaware. Originally published at DeSmogBlog. The […]

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More Brexit Grim Tidings: WTO Warns Ireland to Prepare for Crash-Out; Deutsche Moves Half of Euro Clearing Ops to Germany; Food Freakout

I had hope to write a bigger picture Brexit piece today, but administrative duties got in the way. However, the latest Brexit stories will hopefully provide readers with more grist for conversation in the meantime. I got 2/3 of the way through this post and found I was outdone by this tweet, which is both […]

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Bill Maher Leads Attack on Larry Wilkerson over Trump Meeting with Putin

Yves here. As Lambert might say, the behavior of the enforcers of Liberal Goodthinking has been wonderfully clarifying. Despite the fact that there is a catalogue-full of reasons to be deeply disturbed about the Trump presidency, prominent media figures are regularly resorting to the screeching, pearl-clutching, straw manning, and other forms of “any stick to […]

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Michel Barnier Nixes Theresa May’s Customs Union Scheme as Bad Brexit Dynamics Worsen

Not surprisingly, the EU’s chief negotiator Michel Barnier has rejected Theresa May’s customs plan. But what was striking was that despite Richard North seeing Barnier as having candy-coated some issues, on the whole Barnier seemed to take a sharper tone with the UK than before. Barnier is enough of a pro that it is unlikely […]

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Tom Engelhardt: Three Failing Experiments – Mine, America’s Humanity’s?

Yves here. It’s a bit puzzling to see Engelhardt depict populism as a right wing-phenomenon; the mainstream press is eager to warn of the dangers of populists like Bernie Sanders and the 5 Star movement. But dealing with body failures and limitations is a pointed reminder of mortality and the question of whether there was […]

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China Pumps $74B Into Banks Amid Credit Crisis

By Alex Kimani, a veteran finance writer, investor, engineer and researcher for Divergente Research LLC and Safehaven.com. Originally published at Safehaven Worried about an economic slowdown amid worsening trade relations with the U.S. and a credit crisis sparked by a massive deleveraging drive, China’s central bank, the People’s Bank of China (PBOC), has unexpectedly made […]

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