Daily links: Economic stresses mount

Debbie Downer

We apologize for this depressing post

The rate of seniors filing for bankruptcy has tripled since 1991. The elderly have little financial cushion in the event of catastrophic health problems, and of course medical costs are rising. And more people are entering retirement age with debt.

More people are living in their cars as homelessness rises in America. “The problem is ‘exploding’ in cities with expensive housing markets, including Los Angeles, Portland and San Francisco, according to Governing magazine.”

Outstanding education debt in the US now exceeds $1.5 trillion (roughly the GDP of Australia), after tripling over the last decade, and more than one million student loan borrowers go into default each year.

The average American works longer hours than a medieval peasant: “Juliet Shore, economist, told the site that during periods of high wages, such as 14th-century England, peasants worked no more than 150 days a year.”

Daily links: Fentanyl and state failure

China is the main source of the insanely potent synthetic opioid fentanyl in the US, which killed more than 27,000 people in the 12 months through November 2017. “The biggest difficulty China faces in opioid control is that such drugs are in enormous demand in the US,” an official of China’s equivalent of the DEA is quoted as saying. The Opium Wars in reverse?

The trade deficit has sliced $457.2 billion off the US economy’s cumulative inflation-adjusted growth, or 14.33%, from the start of the recovery in mid-2009 through the first quarter of 2018, according to last week’s revised GDP figures. But we are told that trade deficits don’t matter.

Britain is probably not going to run out of food in the event of a “no deal” Brexit. Nevertheless, it’s interesting to note that the British government cannot guarantee food security for its people, and seemingly expects the food industry to take all the responsibility for stockpiling goods. Meanwhile, the food industry has absolutely no plans to do this.

A simulation models the release and spread of a moderately lethal and moderately contagious virus. It kills off 150 million people over the course of 20 months, including 15 to 20 million people in the US.

Over 100,000 Russians marched last month in the city of Yekaterinburg to mark the centennial of the slaughter of the Romanov imperial family by rabid Communists.

Duterte publicly destroys more than A$8 million worth of contraband luxury cars in the Philippines:

Daily links: Geopolitics and Tom Cruise

US teams up with Japan and Australia to invest in Asian infrastructure projects. China’s Belt and Road Initiative has competition.

US Secretary of State Mike Pompeo announces $113 million in new technology, energy and infrastructure projects in emerging Asia as part of Trump’s “Indo-Pacific” strategy.

Generals from the rival Koreas meet at the border to ease military tensions.

But there’s still a long and difficult road ahead with North Korea. “Washington and Pyongyang, however, are not the only players. Racing against a clock of its own, Seoul will aim to drive Trump and Kim toward an early trilateral summit to declare an end to the Korean War as a first step toward peace, fueled by President Moon Jae-in’s determination to go down in history as the peacemaker.”

Professor Stephen Cohen points out that in early 1986, President Ronald Reagan met alone with Soviet leader Mikhail Gorbachev for about two and a half hours, during which they discussed abolishing nuclear weapons, paving the way for the Intermediate-Range Nuclear Forces Treaty which was signed a year later.

Behind-the-scenes on Tom Cruise’s HALO jump from a C-17 military aircraft at 25,000 feet for the latest Mission: Impossible movie. HALO means high altitude, low open (i.e. the parachute is deployed at below 2,000 feet).

Reminds me of this incredible scene from Moonraker.

Tom Cruise is “our last remaining movie star.”

Daily links: Movies, Mars, and ancient nematodes

Steel Rain movie

Steel Rain

A large underground lake of liquid water is discovered on Mars.

Two Russian nematodes are brought back to life after being frozen for nearly 42,000 years, making them the oldest living animals currently on earth.

European astronomers track a star travelling through the gravitational field of Sagittarius A*, the supermassive black hole at the center of the Milky Way galaxy, and it exhibits gravitational redshift, confirming Einstein’s predictions.

Massive, brutal vivisection of Star Wars: The Last Jedi, via a series of YouTube videos deconstructing the film’s appalling writing. It’s a dirty job, but someone has to do it. The franchise will never recover from this.

Review of the South Korean spy thriller Steel Rain. I watched this on a flight from Seoul to New York. It’s good.

David Goldman challenges American complacency about China’s rise.

Russia liquidates more than 84% of its US Treasury holdings in the two months through May 31, leaving experts puzzled.

Daily links: Musk, Mission Impossible, US military

An amusing takedown of Elon Musk. For some reason, Musk is a deeply polarizing figure, viewed as either a visionary genius or a total charlatan. His increasingly bizarre and out-of-control behavior of late certainly raises doubts about his qualities as a business leader. The outlook for Tesla does not look good either.

New Yorker review of Mission: Impossible — Fallout. Very entertaining movie, although the crazily violent fight scenes and endless car/bike chases through Paris get numbing after a while.

All your base are belong to us: More than 300,000 American military personnel are deployed or forward stationed in 177 countries.

More US embassy weirdness: Bomb detonated near the embassy in Beijing.

Some salient questions about the US-EU announcement on trade relations.

North Korea returns remains of (allegedly) US soldiers in goodwill gesture.

What happens when a total stranger decides to destroy your life by posting false information about you on a sleazy grudge-settling website?

Daily links: Putin, Ortega, and Kubrick

Axios describes the Russian president as “an enemy of the United States,” which is interesting because I wasn’t aware that Congress had declared war on the Russian Federation… and I doubt Axios would use such inflammatory and hysterical language to describe the president of China which, you may recall, has been accused of all sorts of damaging cyber espionage against the US, including stealing private information on tens of millions of government employees and other Americans.

Don’t mess with Florida: Trump reportedly read Putin the riot act over a campaign video illustrating nuclear missiles raining down on the state.

Russia to consider lifting a four-year-old ban on US adoptions. A good sign?

A lost, nearly complete Stanley Kubrick screenplay has been found, and it sounds sorta creepy.

An estimated 350 people have been killed in protests against Nicaraguan president Daniel Ortega since April. It’s curious how little media attention the events in America’s backyard tend to receive.

At least 42 people, all believed to be Chinese tourists, died when their ferry in Thailand capsized. The Thai defense minister alleged that the ferry was illegally operated by a Chinese firm, concluding that “The Chinese did it to the Chinese,” then later walked back his comments.