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Kunstler: Mistaken Futures

Public Policy

And so the Democratic Party has gone and hoisted the flag of “socialism” on the mizzenmast of its foundering hulk as it sets sail for the edge of the world. Bad call by a ship without a captain, and I’ll tell you why. Socialism was the response to a particular set of circumstances in time that drove the rise of industrial societies. Those circumstances are going, going, gone.

The suspicion of industry’s dreadful effects on the human condition first sparked in the public imagination with William Blake’s poem “Jerusalem” in 1804 and its reference to England’s newly-built “dark satanic mills.” Industry at the grand scale overturned everyday life in the Euro-American “West” by the mid-19th century, and introduced a new kind of squalor for the masses, arguably worse than their former status as peasants.

And thus it was to be, through Karl Marx, Vlad Lenin, and the rest of the gang, ever-strategizing to somehow mitigate all that suffering. Their Big Idea was that if government owned the industry (the means of production), then the riches would be distributed equally among the laboring masses and the squalor eliminated. You can’t blame them for trying, though you can blame them for killing scores of millions of people who somehow got in the way of their plans.

Nobody had ever seen anything like this industry before, or had to figure out some way to deal with it, and it was such an enormous force in everyday life thereafter that it shattered human relationships with nature and the planet nature rode in on. Of course, the history of everything has a beginning, a middle, and an end, and we’re closer to the end of the industrial story than we are to the middle.

Which opens the door to a great quandary. If industrial society is disintegrating (literally), then what takes its place? Many suppose that it is a robotic utopia powered by some as-yet-unharnessed cosmic juice, a nirvana of algorithms, culminating in orgasm-without-end (Ray Kurzweil’s transhumanism). Personally, I would check the “no” box on that outcome as a likely scenario.

The self-proclaimed socialists are actually seeing the world through a rear-view mirror. What they are really talking about is divvying up the previously-accumulated wealth, soon to be bygone. Entropy is having its wicked way with that wealth, first by transmogrifying it into ever more abstract forms, and then by dissipating it as waste all over the planet. In short, the next time socialism is enlisted as a tool for redistributing wealth, we will make the unhappy discovery that most of that wealth is gone.

The process will be uncomfortably sharp and disorientating. The West especially will not know what hit it as it emergently self-reorganizes back into something that resembles the old-time feudalism.  We have a new kind of mass squalor in America: a great many people who have nothing to do, no means of support, and the flimsiest notions of purpose in life. The socialists have no answers for them. They will not be “retrained” in some imagined federal crusade to turn meth freaks into code-writers for Google.

Something the analysts are calling “recession” is ploughing across the landscape like one of those darkly majestic dust-storms of the 1930s, only this time we won’t be able to re-fight anything like World War Two to get all the machines running again in the aftermath. Nor, of course, will the Make America Great Again fantasy work out for those waiting in the squalid ruins of the post-industrial rust-belt or the strip-mall wastelands of the Sunbelt.

Most of the beliefs and attitudes of the present day will be overturned with the demise of the industrial orgy, like the idea that humanity follows an unerring arc of progress, that men and women are interchangeable and can do exactly the same work, that society should not be hierarchical, that technology will rescue us, and that we can organize some political work-arounds to avoid the pain of universal contraction.

There are no coherent ideas in the political arena just now. Our prospects are really too alarming. So, jump on-board the socialism ship and see if it makes you feel better to sail to the end of the earth. But mind the gap at the very edge. It’s a doozie.

Kunstler



84 Comments on "Kunstler: Mistaken Futures"

  1. Davy on Wed, 13th Feb 2019 5:45 am 

    “Soros Confirms He Is Losing In Europe”
    https://tinyurl.com/y44cqgx3

    “People with power only come out of the closet and plead like this when they are losing. Empires don’t negotiate, they dictate. The same goes for billionaire financiers who are the product of the bubbles they helped blow but refuse to accept the responsibility for when they pop. No, that’s the fault of those savage Euroskeptics not being sufficiently committed to the cause. Y’all aren’t woke enough in Soros-land. People like Soros buy influence behind the scenes to get what they want. Soros outing himself from behind the curtain is telling of how anxious he has become. Instead of sounding like a prophet, he comes off as a clueless old leftie with a lot of money in his pocket talking his book. To those truly woke to Soros’ schtick, I say what else is new? He is no different than the tired and moldy Marxists in the Democratic Party here in the U.S. and their useful idiots, arguing that Socialism hasn’t failed, it simply hasn’t been properly implemented yet. So 150 million dead people (not counting the wars) in the 20th century wasn’t refutation enough? You can rebrand it ‘Democratic Socialism’ or ‘Stakeholder Capitalism’ all you want, but in the end it is still just a bunch of dudes and dudettes, sitting around playing god while the rest of us toil waiting for the costs of going along with them rising above the cost of overthrowing you. Welcome to the World Socialism Built. Democratic Socialism has been the dominant political ideology of the age, going back to the Progressive Era. Y’all have been in charge in some form or another for the past 90 years and Soros thinks the reason his social engineering experiment called the EU is failing because of outdated political party systems he sees as vestiges of the fight between labor and capital. I’m not shocked George has gotten this all wrong since he made his money fixing currency markets, having gotten his money neither through labor or the creation of capital goods. Soros mistook getting uber-rich in a corrupt system somehow validated his sense of superiority, versus just being a crook. Hubris is the downfall of all rulers and would-be Emperors. And if he lived in a different time he may have been able to pull this off. But global communications, the natural forces of decentralization and the basic laws of both physics and economics caught up with him before his dreams could come to light. If there was ever a moment that signaled the end of the European Union, it was George Soros admitting, in public, that we should look on all his works and despair.”

  2. Davy on Wed, 13th Feb 2019 6:00 am 

    DOMINOES

    “Chinese investment giant CMIG misses bond payment, sending shockwaves through US$11 trillion market”
    https://tinyurl.com/y5q4l98o

    “An investment giant backed by dozens of the biggest Chinese firms and dubbed the “the aircraft carrier of China’s private companies” by local media has partly suspended trading of its bonds after missing a repayment. The case underlines the mounting pressure in the country’s US$11 trillion bond market, said analysts, as a liquidity crunch forces an increasing number of heavily indebted companies to the brink of default. China Minsheng Investment Group (CMIG) has stopped taking bids for three of its bonds “due to recent price volatilities”, according to a filing issued on Tuesday morning through the Shanghai Stock Exchange. One of the three bonds had plunged by more than 27 per cent on Monday, as investors sold off amid concerns about CMIG’s financial condition.”

  3. Davy on Wed, 13th Feb 2019 6:08 am 

    DOMINOES

    “Europe Looks Like the Real Weak Link in the Global Economy”
    https://tinyurl.com/y6pkmn7q

    “The concern I have right now is in Europe,” said Salman Ahmed, chief investment strategist at Lombard Odier. “It’s clear China is going through a slowdown, but there’s also a strong amount of stimulus in the pipeline. However, in Europe, things are deteriorating quite fast.” The extent and surprising suddenness of the weakness reflects that the slowdown is hitting the core of the region. While the likes of Greece were at the root of past sluggishness, this time Germany’s prospects are crumbling after a protracted slump in manufacturing. Household spending has also ground to a halt in France, which is beset by the Yellow Vest protests. Together those two countries account for about half the euro-area economy. “If France stops consuming and Germany stops producing you have a major problem in the euro zone,” said Ludovic Subran, deputy chief economist at Allianz.”

  4. Antius on Wed, 13th Feb 2019 6:50 am 

    “ALEXANDRIA OCASIO-CORTEZ’S ‘CORRUPTION GAME’ SPEECH IS NOW THE MOST VIEWED TWITTER VIDEO OF ANY POLITICIAN”

    To a lot people, especially young, bored and low-IQ people; identity and passion are more important than substance. This is how dictators come to power in democratic systems.

    I read some extracts from the AOC Green New Deal yesterday. If something sounds like it was written by a bimbo with the educational achievement of a cocktail waitress, it’s probably because it was. The document reads like a wish list for a lefty green fantasy world, rather than a practical plan. It lacks any practical understanding of the real world energy economy. Socialism is full of that sort of shit. It is all about the perfection of a vision. The real enactment of the fantasy in the complex real world is just details that these people don’t want to think about and is typically swept to the side-lines.

  5. I AM THE MOB on Wed, 13th Feb 2019 7:29 am 

    Davy

    Calm down Grandpa..Don’t want to make a mess in your diaper..

    LOL

  6. Dredd on Wed, 13th Feb 2019 7:38 am 

    Why stick with the current status quo feudalism (American Feudalism – 10)?

    Got plutocrats?

  7. Davy on Wed, 13th Feb 2019 7:44 am 

    “Calm down Grandpa..Don’t want to make a mess in your diaper..”

    Are you one of those young guys still peeing in his bed? LOL

  8. Mitch on Wed, 13th Feb 2019 8:43 am 

    Your three above Zero Hedge links are all off topic Davy.

    The above article was about socialism in America. It is not about George Soros, Europe, or China.

  9. Davy on Wed, 13th Feb 2019 10:34 am 

    “Things Are Deteriorating Quite Fast”: Europe Emerges As World’s “Weakest Link”
    http://tinyurl.com/y4un7mte

    “Last week, when looking at the latest regional Industrial Production figures out of European nations, we made a simple observation: while GDP has yet to confirm, Europe is now in a recession. And according to Bloomberg, just a few days later, Europe has indeed emerged as the world’s weakest link, and perhaps more so than the outcome of the US-China trade war, “it is Europe that increasingly looks like the biggest threat to global growth.” As evidence, Bloomberg cites the same data that we highlighted last week, namely that industrial production across the 19-nation euro area is “falling at the fastest pace since the financial crisis, and deteriorating demand is evident as the region finds itself squeezed between international and domestic drags.” According to Wednesday data, industrial output for the Euro area slumped 0.9% in December from November, double the forecast, while the annual decline was the steepest since 2009.”

    “Making matters worse, Europe is sliding into contraction at the worst possible time: just as the ECB has ended its QE, although the silver lining is that any speculation for a rate hike by Mario Draghi have been permanently crushed, and like in the US, the only question now is when will QE return. As a result, the Bloomberg euro index is near its lowest since mid-2017 and European stocks have never been cheaper relative to bonds in terms of yield gap. And investors are not happy. “The concern I have right now is in Europe,” said Salman Ahmed, chief investment strategist at Lombard Odier. “It’s clear China is going through a slowdown, but there’s also a strong amount of stimulus in the pipeline. However, in Europe, things are deteriorating quite fast.”

  10. Cloggie on Wed, 13th Feb 2019 10:58 am 

    Dear Britain, in your own best interest, sign the Barnier-Raab deal:

    https://www.dailymail.co.uk/news/article-6700273/Ford-warns-no-deal-Brexit-catastrophic.html

    “Ford warns no-deal Brexit would be ‘catastrophic’ amid claims the car giant is preparing to shift production out of the UK”

    Signing means that your biggest export and import trade flows keep flowing unhindered, it is the best chance to keep Scotland and Northern-Ireland in your union and you still have some geopolitical freedom, for instance to administer Anglo-Canada, “after the brake”.

    Sure, a no-deal Brexit will hurt Britain and Europe in equal measure, it is just that two equal quantum’s of hurt are going to be smeared out on two population blocks of considerable different sizes.

    And for the initiated in the JQ, a no-deal Brexit means that the British population stubbornly will go into the “Dunkerque mode” and as such will become an easy prey for ZOG, currently slightly tempered by the Trump presidency, but he won’t live for ever either, and if the left returns with a vengeance after Trump AND European-America will not revolt (not entirely unthinkable), you are stuck in a world as predicted by Orwell, an Orwellian world to be precise…

    https://documents1940.wordpress.com/2017/09/26/which-future-world/
    (2nd map)

    …and you’ll be missing out on the populist revolt, now underway in continental Europe and kiss British Britain goodbye for good.

    But perhaps the Good Lawd in the skies above has meant it this way, namely that all great religions, namely Christianity, Judaism, Confucianism and Islam, should have their foothold, somewhere in the wide world, competing with each other, again as predicted by Orwell, always at war with each other, but only at the border, since an all-out war between A and B would only benefit C and D.

    A no-deal Brexit means an accelerated end of the West, pushing continental Europe into the arms of Eurasia and Russia in particular, but it also diminishes the chance of continental Europeans liberating the Anglos from their multicultural (((tormentors))), a scenario of which a European-American revolt is an essential precondition (no such revolt is to be expected from the British, other than Scots in the form of a unilateral declared independence).

    Anyways, we in continental Europe are outta here, it was nice to have known you all, but we have bigger fish to fry than being the servant of Uncle Schmull. Or as they say in Islamistan: “Death to the West!”

  11. Cloggie on Wed, 13th Feb 2019 11:15 am 

    “after the brake”.

    Pun intended because of Ford.

    Seriously: “after the break”

  12. Antius on Wed, 13th Feb 2019 11:25 am 

    “Dear Britain, in your own best interest, sign the Barnier-Raab deal”

    Why? We would be locking ourselves into a subservient arrangement with an entity that may not exist in five years’ time. It would not be good for Britain’s long-term economic prospects (which do not look good in any event) to get tied into being an EU client state and losing all ability to set our own trade arrangements with the outside world.

    No doubt there will be economic losses associated with the transition to freedom; so be it. A slave escaping from jail may go hungry for a while without prison food; but his long-term prospects are dramatically improved by escaping.

    As for a populist rebellion; signing that ridiculous document would have no bearing on its likelihood within the UK. We would still be under the boot of the same despotic regime, whether we remain or not. With the coming economic apocalypse caused by debt defaults, the unwinding of ZIRP and quantitative easing; every country in the western world is facing a dramatic reordering of its internal political order. It may take longer in Britain.

  13. Cloggie on Wed, 13th Feb 2019 11:27 am 

    From Davy’s Zerohedge link, the part he “forgot” to quote:

    Meanwhile, like Deutsche Bank, Goldman recently downgraded its near-term euro-area expectations, although it remains optimistic on the longer-term outlook, and sees an improvement later this year, thanks to a boost from lower oil prices and fiscal policy. ABN Amro economist Aline Schuling shares the view: “The domestic economy is quite resilient. You could very well have a negative first quarter and a weakish second, but after that it should pick up again. I don’t expect a deep or prolonged recession.”

  14. Antius on Wed, 13th Feb 2019 11:50 am 

    Cloggie, these sorts of forecasts are speculations; educated guesses at best. None of them saw the 2008 crisis coming, in spite of the obvious tell-tale signs of growing bad debt levels, rising oil prices and rising US interest rates. It didn’t take a lot of intelligence to see what was coming, yet these people failed to pick up on it.

    It is safe to rely on these people to tell you what is happening now. But ask them to tell you the future? You might as well find an old gypsy woman with a crystal ball. That’s about as reliable as long term financial forecasts from institutions like Goldman really are. These people would have no incentive to share the truth even if they could see it.

  15. Cloggie on Wed, 13th Feb 2019 11:51 am 

    We would be locking ourselves into a subservient arrangement with an entity that may not exist in five years’ time.

    The alternative is an even more subservient arrangement with the US, that also may not not exist in 5 years time:

    https://documents1940.wordpress.com/2018/06/11/cw2-brewing/

    Britain is too small to stand on its own feet, unless you opt for an isolated and poor Albania status under the loving care of Jeremy Hoxha.

    It would not be good for Britain’s long-term economic prospects (which do not look good in any event) to get tied into being an EU client state and losing all ability to set our own trade arrangements with the outside world.

    Hookay, so you are going to break economic ties with your most important trading partner by far, in order to replace those with imaginary ties (Congo? Argentina?) that have yet to materialize. And you are not only going to lose trade relations, you are also going to lose all major companies like Ford, Shell, Unilever, the lot.

    A slave escaping from jail may go hungry for a while without prison food; but his long-term prospects are dramatically improved by escaping.

    A “slave” sounds pretty dramatic. Rules are made by the governments of the member states, including the British government. I still think that a British white nationalist like you (not to be confused with a pan-European white nationalist like me), would be slightly better protected by the emerging right-wing mood in Europe and European governments forced to act on the rising influence of the populists, than if you are left alone at the mercy of the British government and society, where populism (as in closet white nationalism) is simply absent, in contrast to continental Europe.

    But it is your choice. As I have said numerous times before, I absolutely love Brexit, deal or no-deal, like Trump it is a God-send, because it enables us to leave the West and team up with the Russians and protect our racial integrity, where uncle Schmull is hell-bent on ramming Anglo-whitey into minority status:

    https://documents1940.wordpress.com/2017/09/27/paul-krugman-white-americans-are-losing-their-country/

    Whatever. Your owners have already given up on continental Europe…

    https://documents1940.wordpress.com/2019/01/07/the-good-news-zog-is-dying/

    … but sure as hell not on Anglos, like you.

    You are walking straight into Oceania. Good luck with that.

    Ah well, island mentality, 500 years of balance of power, etc., etc. I understand.

    /bigshrugg

  16. Cloggie on Wed, 13th Feb 2019 11:56 am 

    Cloggie, these sorts of forecasts are speculations; educated guesses at best. None of them saw the 2008 crisis coming, in spite of the obvious tell-tale signs of growing bad debt levels, rising oil prices and rising US interest rates. It didn’t take a lot of intelligence to see what was coming, yet these people failed to pick up on it.

    Indeed. One of the “attractions” of peak oil was that it implied a major crisis, that would have broken the status quo. Peak oil didn’t happen and will not happen (peak oil supply that is) but other factors have emerged: the political crisis in the US, rising China and a Russia that withstands the pressure from the West. And then there are the European populists.

    We no longer need peak oil to survive as white civilization. The NWO is definitely over.

    I have never been so upbeat since my “minimum” in 2000.

  17. Cloggie on Wed, 13th Feb 2019 2:08 pm 

    http://www.spiegel.de/wirtschaft/soziales/brexit-nur-vier-eu-abkommen-fuer-grossbritannien-kopiert-a-1253095.html

    UK trade minister going nowhere with setting up trade deals. Brexit means the loss of existing deals with 100 countries. So far 4 new deals have been achieved:

    Switzerland
    Chile
    ESA (African club)
    Far Oer

    Not only Ford, Nissan too hints at a withdrawal:

    https://eu.detroitnews.com/story/business/autos/foreign/2019/02/11/nissan-brexit-eu/39037593/

  18. autistmouse on Wed, 13th Feb 2019 5:20 pm 

    This was a close as Kunstler has come in a long time to making sense. Too bad many of the commenters missed the point. There is no future socialist, status quo, or otherwise in these super human scale systems. The future is small. With each group being very distinctive from their neighbors. Anyone barking about Soros or the Kochs may be right about the powers that be in the moment but in even the moderate term they just don’t matter.

  19. makati1 on Wed, 13th Feb 2019 6:02 pm 

    “Rats, Public Defecation And Open Drug Use: Our Major Western Cities Are Becoming Uninhabitable Hellholes”

    “The Denver City Council has voted unanimously to decriminalize a number of offenses, including defecating in public. Also, urinating in public. Camping on public or private land without permission. Panhandling. And lying across public rights-of-way, such as sidewalks.”

    “People from all over the world are drawn to Los Angeles because of what they have seen on television, but it is truly a filthy, filthy place. The number of homeless has been rising about 20 percent a year, public drug use is seemingly everywhere, and there are mountains of trash all over the place. Needless to say, rats thrive in such an environment,…”

    “Each day in San Francisco, an average of 85 cars are broken into. Inside Edition” ran a test to see how long stereo equipment would last in a parked car. Their test car was quickly broken into. Then the camera crew discovered that their own car had been busted into as well.” LOL

    http://endoftheamericandream.com/archives/rats-public-defecation-and-open-drug-use-our-major-western-cities-are-becoming-uninhabitable-hellholes

    Slip slidin’ faster and faster…to 3rd world America.

  20. Cloggie on Thu, 14th Feb 2019 2:13 am 

    https://www.dailymail.co.uk/news/article-6702327/McDonnell-labels-Churchill-villain.html

    “McDonnell labels Churchill a ‘villain’: Shadow Chancellor provokes furious backlash as he ‘blackens the name’ of wartime PM for ordering in troops to quell miner riots in 1910”

    British icon under attack. I do not often agree with lefties, except for environment and a decent social minimum, but here I do. Which is not that strange if the argument is with the Tories.

    If you distance yourself enough from history, it is difficult to argue that Churchill was not the “greatest Briton who ever lived” (for starters he was half-American), but the greatest disaster ever to befell the British isles. He was in the pay of international kosherdom and was the key element in bringing the US (and Soviet) empires about, at the cost of Europe and most of all of the British empire itself. It is difficult to come up with an historic example of a greater traitor than WC.

    In 1939, Britain was the #1 country in the world (thanks to coal and stream engine). When he accomplished what folks like Waley Cohen (chairman of Shell) paid him to do, namely maneuver Britain into war with Germany, a war of choice, as a crucial step to ensure kosher rule, not only over the US and USSR, but over Europe as well, Britain ended up as a miserable US colony, until today. As a consequence it has a third world capital. And a no-deal Brexit will mean that the island will get in a tail spin and end up in a role and relationship to the US, comparable to what Cuba was to the USSR: an impoverished satellite.

    Well, at least the overlord speaks English.

  21. Cloggie on Thu, 14th Feb 2019 2:24 am 

    https://www.dailymail.co.uk/news/article-6703563/May-faces-Brexit-showdown.html

    “Remainers and Brexiteers plot to break May’s heart in crunch Valentine’s Day votes as she faces bid to force referendum and revolt over ruling out no deal”

    British political deadlock continuous with no end in sight, except of course the default no-deal abyss of March 29.

    Meanwhile Nordstream-2 is getting completed, despite protests of the US ambassador to Germany and the German government is thinking softly aloud about German nuclear armament. Hint: they will get the nukes for free from Russia, if Russia is accepted as a full member of Gorbachev’s European House.

    https://en.wikipedia.org/wiki/Common_European_Home

    https://documents1940.wordpress.com/2017/12/03/paris-berlin-moscow/

    And as bonus the Russians will free the Germans of the holohoax as well. They have the documents in their archive to prove it.

    How did Lord Heseltine put it again?

    https://www.telegraph.co.uk/news/2017/03/24/lord-heseltine-suggests-brexit-allowing-germany-win-world-war/

    Heseltine is too smart for Britain, where the BoJo’s rule.

  22. Davy on Thu, 14th Feb 2019 3:56 am 

    “Where A No-Deal Brexit Would Hit Hardest”
    https://tinyurl.com/y3rl247y
    https://tinyurl.com/y2m8twfl

    “It found that Germany could lose the most jobs with around 103,000 threatened if the UK crashes out of the EU with no deal. Even though Europe’s economic powerhouse could be impacted most in terms of the sheer number of jobs, the situation is different when it comes to the share of total employment threatened. In this case, only 0.24 percent of Germany’s workforce would be under threat compared to 1.03 percent of all jobs in Ireland. That’s despite “only” 19,800 Irish jobs potentially being impacted.”

  23. Davy on Thu, 14th Feb 2019 4:05 am 

    “Russia Readies Own Web To Survive Global Internet Shutdown”
    https://tinyurl.com/y6cxalpn
    https://tinyurl.com/y3cbokn4

    “Telecom operators (MegaFon, VimpelCom (Beeline brand), MTS, Rostelecom and others) will have to introduce the “technical means” to re-route all Russian internet traffic to exchange points approved by the Federal Service for Supervision of Communications, Information Technology and Mass Media (Roskomnadzor), Russia’s federal executive body responsible for censorship in media and telecommunications. Roskomnazor will observe all internet traffic and make sure data between Russian users stays within the country’s borders, and is not re-routed abroad. The exercise is expected to occur before April 1, as Russian authorities have not given exact dates. The measures described in the law include Russia constructing its internet system, known as Domain Name System (DNS), so it can operate independently from the rest of the world. Across the world, 12 companies oversee the root servers for DNS and none are located in Russia. However, there are copies of Russia’s core internet address book inside the country suggesting its internet could keep operating if the US cut it off. Ultimately, the Russian government will require all domestic traffic to pass through government-controlled routing points. These hubs will filter traffic so that data sent between Russians internet users work seamlessly, but any data to foreign computers would be rejected. Besides protecting its internet, Russia is simultaneously building a mass censorship system similar to that seen in China.”

  24. Davy on Thu, 14th Feb 2019 4:31 am 

    “Airbus scraps A380 superjumbo jet as sales slump”
    https://tinyurl.com/y63rdph6

    “European aircraft manufacturer Airbus has pulled the plug on its struggling A380 superjumbo, which entered service just 12 years ago. Airbus said last deliveries of the world’s largest passenger aircraft, which cost at least $25bn (£19.4bn) to develop, would be made in 2021. The decision comes after Emirates, the largest A380 customer, cut its order. The A380 faced fierce competition from smaller, more efficient aircraft and has never made a profit.”

  25. Davy on Thu, 14th Feb 2019 4:39 am 

    “How China’s JPMorgan Wannabe Became a $34 Billion Debt Risk”
    https://tinyurl.com/y52gy5dn

    “It was supposed to be China’s answer to JPMorgan Chase & Co. But less than five years after China Minsheng Investment Group Corp. outlined plans to become a financial colossus, the company has instead turned into a symbol of the turmoil sweeping China’s once-vaunted private sector. CMIG shocked investors by missing a bond payment on Jan. 29, before scraping together enough cash to repay the note on Thursday. The company’s liquidity crunch, caused by what analysts describe as a combination of mismanagement and tighter lending conditions in China, underscores a sometimes overlooked risk to the global economy in the era of Trump, Brexit and trade wars. As China reins in the shadow-banking system that fed its private sector with cheap credit for more than half a decade, companies that were meant to be pillars of the nation’s growth miracle are proving surprisingly fragile. “CMIG is not an isolated case,’’ said Fan Wei, vice general manager of the fixed-income department at Shenwan Hongyuan Securities Co. “Many Chinese companies face declining investment returns and refinancing difficulties that have plunged them into debt woes.’’

  26. Davy on Thu, 14th Feb 2019 4:44 am 

    “Global wind annual installations are expected to grow 40% in the next decade – from 53 [gigawatts (GW)] in 2018 to over 75GW by 2027,” said Shashi Barla, Wood Mackenzie Power & Renewables senior analyst. “Pressure to lower the levelized cost of electricity (LCoE) is accelerating technology developments, which is causing a wider proliferation of next-generation 4.X/5.X/6.X [megawatt (MW)] turbines. As a result, we expect a 20% decline in the total number of turbines deployed, from over 20,000 turbines in 2018 to just over 16,000 by 2027.”

    This is not so much groundbreaking news as just the natural observations of the industry as it has been trending over the last couple of years. With technology developments pushing wind turbine power ratings higher, fewer turbines are necessary to accomplish higher overall capacity additions — something which is true for both onshore and offshore. In other words, where once it took 100 2 MW wind turbines to achieve a 200 MW project, it now might only take 33 or 40, depending on the size of onshore turbine.

  27. Cloggie on Thu, 14th Feb 2019 12:46 pm 

    https://www.dailymail.co.uk/news/article-6703563/May-faces-Brexit-showdown.html

    “May slumps to crushing 303 to 258 Brexit defeat at hands of Tory rebels despite begging them not to weaken her hand with Brussels – and doesn’t even turn up to hear grim result of vote”

    More political deadlock and hopelessness from Britain.

    Meanwhile in Holland…

    https://www.dailymail.co.uk/news/article-6703885/No-news-not-good-news-Donald-Tusk-trolls-PM-Brexit.html

    “Now the Dutch are calling us Muppets! Foreign minister poses with big blue Brexit ‘monster’ – as Donald Tusk jibes that May has no ‘realistic’ ideas for breaking deadlock”

    Actually we didn’t, we would never do that as we are the most Anglophile country in entire Eurasia. We called Brexit a muppet, a subtle difference.

    Nevertheless, we are still more Capitalist than Anglophile, so we are eager to lay our hands on every British company we can lay our hands on, or rather volunteers to come our way.

    https://tinyurl.com/y4ckw2p2

    “De een zijn dood is de ander zijn brood”

    (One’s death is the other one his bread)
    In Dutch it rimes.

    Dutch FM Stef Blok doing the Brexit stunt:

    https://www.youtube.com/watch?v=EWKJS53xu1Y

    This is the same foreign minister Stef Blok, who was caught saying during a private speech that the multicultural society was a total failure and that he knew no example of a multicultural society that ended peacefully.

    He got some leftist and imperial media flack but tellingly for the political climate in Europe, he survived politically after some halfhearted mutterings about that “he was taken out of context” (he wasn’t).

    The pictures:

    https://www.youtube.com/watch?v=i6QYzUxE1cs

  28. Cloggie on Thu, 14th Feb 2019 1:01 pm 

    Interview with Dutch-born US ambassador to the Netherlands:

    https://www.youtube.com/watch?v=wg-6Rhbkc9Y

    Euro-army is “a joke” and buying Russian gas is wrong.

  29. Antius on Thu, 14th Feb 2019 2:41 pm 

    The Euro army is likely to be used to bully dissident countries like Hungary. At present, all Brussels can really do to Hungary for failing to bow down before Islamic migrants is remove its voting rights. In the future, failing to be a good little goy could see the EU army arrive at your border.

  30. Cloggie on Thu, 14th Feb 2019 3:00 pm 

    US state of emergency:

    https://edition.cnn.com/2019/02/14/politics/donald-trump-wall-funding-bill/index.html

    “McConnell says Trump will sign funding bill, declare a national emergency”

  31. Cloggie on Thu, 14th Feb 2019 3:20 pm 

    Finally a politician who does what he promised.

    https://www.rt.com/news/451486-putin-us-withdrawal-syria/

  32. Cloggie on Thu, 14th Feb 2019 3:40 pm 

    Just on the German news… which partner do the Germans trust most?

    https://www.tagesschau.de/inland/deutschlandtrend-1515~magnifier_pos-4.html

    Frankreich…………..89%
    Gross-Britannien….54%
    Russland…………….35%
    Amerika………………24%

    Compare that with April 2016:

    https://goo.gl/images/6Lz4mv

    France constant high, Russia up, UK/US down, US even massively down.

  33. Cloggie on Fri, 15th Feb 2019 12:24 pm 

    The Euro army is likely to be used to bully dissident countries like Hungary. At present, all Brussels can really do to Hungary for failing to bow down before Islamic migrants is remove its voting rights. In the future, failing to be a good little goy could see the EU army arrive at your border.

    I don’t think so. Things are changing rapidly in Europe, moving to the right. The block of Eastern European nations would never cooperate with such an action. We need a Euro-army to finally get out of the shadow of the US and take our fate in our own hand. And at least as important: to have a tool to intervene in North-America if things go terrible wrong there (or terrible right, it’s a matter of perspective).

  34. Davy on Fri, 15th Feb 2019 1:14 pm 

    The Euro army will likely never amount to much more than a concoction of French and German units. These units will never mesh as a unified army. Combining units from both nations are a good idea for specialized tasks like missile defense and forces which are too expensive to duplicate like Special Forces with rapid deployment capabilities.

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