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HomeGlobal EconomyLinks 7/1/2025 | naked capitalism

Links 7/1/2025 | naked capitalism

‘I was shocked’: Melbourne man’s ‘unbelievable’ find after buying house SBS (Paul R)

How Japan escaped Obesity while America got Fat YouTube (Micael T)

Stem cells from extracted wisdom teeth are like “medical gold,” able to treat multiple diseases Earth.com (Paul R)

UK Scientists Plan to Construct Synthetic Human Genetic Material From Scratch Guardian

#COVID-19/Pandemics

Climate/Environment

Earth is Trapping Much More Heat Than Climate Models Forecast The Conversation

Arctic Sea Ice reaches a Historic Low for late June, with Winter Impacts expected if the Weather Pattern persists Severe Weather

Mediterranean Sea poised to break all-time heat records Fox Weather

Atlantic cold spot shows AMOC has ‘been slowing for a century Oceanographic Magazine

The bold plan to save a vital ocean current with giant parachutes New Scientist

Tajikistan and Central Asia Face Escalating Water Crisis Times of Central Asia

Google’s emissions up 51% as AI electricity demand derails efforts to go green Guardian

China?

Exclusive: Trump Orders Military to “Deter” China Ken Klippenstein

Video teases new Chinese blackout bomb that can knock out enemy power stations South China Morning Post

India-Pakistan

India rejects ‘illegal’ Indus arbitration, suspends treaty over terror links New Indian Express

Suicide attack kills 16 soldiers in northwest Pakistan Daily Sabah

The Koreas

Red flag on nuclear wastewater Korea Times. North accused of dumping.

Thailand

Could Cambodia hit the Thai capital with its made-in-China weapons? South China Morning Post.

Thai court suspends PM Paetongtarn from duty pending case seeking her dismissal Channel News Asia

South of the Border

Argentina must turn over 51% stake in YPF, US judge rules Buenos Aires Times (Kevin W)

Colombia’s former foreign minister sought US support for coup plot: audio and witnesses Colombia News. This news, first reported by El País, comes just two and a half weeks after Nick warned of a possible soft coup being planned in Colombia: Is A Soft Coup Brewing in Colombia, the US’ Long-Time “Israel of Latin America”

Africa

DR Congo-Rwanda peace deal met with scepticism in rebel-held city BBC

Togo groups say recent protests left 7 dead France24

Starving Sudanese people eating weeds to survive amid brutal war Independent

European Disunion

Europe needs a Metternich Unherd

Old Blighty

Britain is racing towards a fresh cost-of-living crisis Spectator

Britain in 2025: sick man of Europe battling untreated illness crisis Guardian (Kevin W). Important and troubling.

Chris Marsden: New head of Britain’s MI6 is granddaughter of Ukrainian Nazi mass murderer Olivier Boyd-Barrett

Israel v. Iran

Iran’s nuclear enrichment ‘will never stop’, nation’s UN ambassador says Guardian

Iran demands security guarantee before resuming nuclear talks with US Anadolu Agency. IMHO, Iran has independently decided to take the same path as Russia in negotiations with the US: play it straight and let it become evident that the other side is the impossible one. They already knew there was no overlap in bargaining positions before the scheduled meeting that wound up being cancelled due to the June 13 attacks.

* * *

Israel Called Its Initial Attack on Iran ‘Red Wedding,’ Referring to a Fictional Massacre that Relied on Deception Antiwar.com (Kevin W). OMG….the House of Frey, which perpetrated the Red Wedding slaughter, was later wiped out by Arya Stark. Do they realize what they are invoking?

Since it was the Israelis themselves that made this comparison, please bear with me in running this sequence, which appeared initially in two different Game of Throne episodes. For those who don’t know the series, it was the Freys who slaughtered the scion of House Stark as well as other Starks in the Red Wedding. Arya Stark was busy at the time, training to be an assassin, and you can see her skills here:

NYT – Guessing About Iran With ‘Experts’ Who Lack Knowledge Of It Moon of Alabama (Kevin W)

Palantir’s Shadow War On Iran Kit Klarenberg

Israel v. the Rest of the Resistance

Divided over Gaza: the Israeli soldiers who fight on and those who refuse The Times

Lebanon pressured to approve Hezbollah disarmament in cabinet, sources in Beirut claim The National

New Not-So-Cold War

Russian Forces Close in on Capital of Ukraine’s Sumy Region: Elite Units Redeployed to Stem Advances Military Watch

The Outcome Of Armenia’s Latest Round Of Unrest Will Be Pivotal For The Region’s Future Andrew Korybko

RUSSIA SAVES FACE — THE BOTOX REVOLUTION John Helmer. IM Doc says Botox produces very good results…until it doesn’t. But patients keep using it, and if they don’t stop, it leads to very bad outcomes.

Syraqistan

Trump signs an executive order ending US sanctions on Syria Arab News

Syria’s wheat war: drought fuels food crisis for 16 million Al-Monitor

Imperial Collapse Watch

Trump 2.0

The Senate megabill is on a collision course with House fiscal hawks Politico

Who wins, who loses if Trump’s ‘One Big Beautiful Bill’ passes? Aljazeera (resilc)

Harvard Violated Students’ Civil Rights, Trump Administration Finds Wall Street Journal

Trump attacks Fed again in open letter calling for lower rates Axios. Kevin W: “Check out image.”

Trump says Musk would ‘head back to South Africa’ without US subsidies for EVs Anadolu Agency

Tariffs

Trump’s tariff war and aid cuts threaten poorest nations’ recovery Financial Times. As we’ve reminded readers, Jomo warned of crisis risk in developing economies for more than a year before the Trump tariffs.

European ports ‘overflowing’ as Trump tariffs cause congestion Financial Times

The Supremes

A New Kind of Judicial Supremacy Steve Vladek

GOP Clown Car

Kristi Noem Secretly Took a Cut of Political Donations ProPublica

Democrat Death Wish

The Elephant in the Room Policy Tensor. albrt:

This is a fascinatingly direct and cogent analysis, except that in Part III the word “Democrats” needs to be replaced with “whatever organization succeeds the Democrats” because the WHOLE point of the current Democratic party is to disintermediate from the working class to enable more siphoning of big donor money to pay for little Madison’s violin lessons.

Three Messages Democrats Should Bring to Rural America Jess Piper (Chuck L)

Our No Longer Free Press

The Art Of The Gaslight Mark Wauck

Mr. Market is Moody

Economic fragmentation raises risk of global financial panic, BIS warns The Times. If you read this recap carefully (and I have been remiss due to competing duties and have not yet read the underlying BIS report) the big systemic risk issue is not government debt levels per se but the astonishingly stoopid hedgie basis trade (tantamount to picking up pennies before a steamroller) going pear shaped as it did when Trump announced his Liberation Day tariffs. Recall that tons of quant-y global macro funds died during the crisis, a testament to Taleb’s big point that tails are fat and even tweaked models can’t adequately allow for that (there are so few data points in the tail that it’s not possible to estimate tail risk with any precision; if you get it right, it was dumb luck). However, as more and more investors get nervous about government debt (whether on an informed or naive basis, or as with Liberation Day, in reaction to new events), it can (likely will) again force rapid unwinds of the basis trade, which can in turn trigger more disruption.

This may seem as if the BIS is driving with a rear view mirror. However, the BIS was way way ahead of other central banks and nearly all economists in warning of the destabilizing potential of housing bubbles in quite a few major economies starting ~2003. In addition, recall there were four acute phases of the global financial crisis, starting in June 2007. The same underlying dynamic got worse and worse as authorities kept applying mere band-aids. And there is also tons of official resistance to hearing BIS warnings.

AI

Make Fun Of Them Ed Zitron. Epic. Delicious. A must read.

Has an AI Backlash Begun? Wired. One can only hope.

Ex-Meta engineers have built an AI tool to plan every detail of your trip TechCrunch. Kevin W: “Hallucinated flights and flight connections anyone?”

CEOs Are Quietly Telling Us the Truth: AI Is Replacing You Gizmodo (Dr. Kevin)

The Bezzle

That Dropped Call With Customer Service? It Was on Purpose Atlantic

Driver fury as Hertz’s new Orwellian scanners trigger instant $400 fines for barely visible scuffs Daily Mail (resilc)

Guillotine Watch

Lauren Sánchez Bezos Commits to the Corset New York Times. Billionaires (and Lauren Sanchez Bezos now is one unless Jeff imposed a super stingy prenup on her) falling in line with Trump’s love of the 18th century. Admittedly, some actresses and performers like Cher have been rumored to have ribs removed to make their waists smaller. But Cher in particular had some costumes that looked like corsets.

PG&E is hiring an executive bodyguard. Combat shooting experience required CalMatters. Paul R: “Makes sense. They are an electrical and gas utility. They don’t do water and they don’t want any damn plumbers coming after them.”

Class Warfare

https://news.antiwar.com/2025/06/30/israel-called-its-initial-attack-on-iran-red-wedding-referring-to-a-fictional-massacre-that-relied-on-deception/

Costco Membership. Paul R: “Costco enshittifies. You now need the more expensive membership to get in at 9am. Plebs have to wait 1/2 hour or 1 hour depending”. Moi: I recall that they let old people in early during Covid.

Antidote du jour (via):

Links 7/1/2025 | naked capitalism

And a bonus (Chuck L). Oopsie!

A second bonus:

And a third (Chuck L):

See yesterday’s Links and Antidote du Jour here.

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