ECONOMY

Links 1/7/2025 | naked capitalism


What Would Becky Buy? Los Angeles Review of Books. Anthony L: “I think I lost my faith when they started bringing acoustic guitars into the Mass.”

Operation Nietzsche Commonweal Magazine (Anthony L)

Superfast diamond-laced computer chips now much closer to reality thanks to ‘quantum breakthrough’ LiveScience

Newsom takes aim at dyes and ultraprocessed foods, long criticized by RFK Jr. Washington Examiner

Experts issue warning over oat milk – dairy alternative linked to health harm while semi-skimmed cow’s milk boasts surprising benefit Daily Mail

#COVID-19/Pandemics

‘Very different to COVID-19’: What to know about the HMPV outbreak in China SBS Australia (Kevin W)

Climate/Environment

Biden Bans New Oil and Gas Drilling Along Most U.S. Coasts New York Times (Kevin W)

China?

China to Curb Exports of Lithium Battery Tech Oilprice

Chinese ship ‘severs undersea cables around Taiwan’ Telegraph

A bond bubble is developing in Chinese financial markets and regulators are scrambling to contain it and defuse the underlying causes interest.co.nz

Koreas

Deadline for arrest of suspended South Korean president enters final day France24

North Korea fires ballistic missile as Blinken visits Seoul Independent

Africa

Too many ways to die: inside Sudan’s forgotten war The Times

O Canada

Trudeau’s exit starts clock on leadership race Globe and Mail

Woke Elvis Resigns Matt Taibbi (Robin K)

Another One Down: Anti-Globalist Maelstrom Sweeps Away Trudeau as Larger Storm Looms Simplicius. Right at the top, this piece propagates a widespread misperception about the effect of Trudeau’s resignation. It will set off a new leadership contest in the Liberal Party. It will NOT lead to new elections. Trudeau resigned to forestall that. So all this discussion of Conservative leader Pierre Poilievre as Prime Minster is wildly premature. See again this tweet that Conor posted yesterday:

Trump reacts to Trudeau resignation: ‘Many people in Canada LOVE being the 51st State’ Fox (Kevin W)

European Disunion

How Trump will expose Europe’s weakness Wolfgang Munchau, Unherd

Elon Musk’s European political meddling is ‘worrying,’ says Norway’s PM Politico

Emmanuel Macron joins growing criticism of Elon Musk in Europe Guardian. Never fight with a pig…not that I think much of Macron, but he should know that paying attention to Musk increases Musk’s stature.

Europe’s Summer Will Bring Worries About Next Winter’s Gas Bloomberg

Farmers’ convoys head for Paris to restart protest movement Reuters

Wake up Mats Persson – the companies are going bankrupt Aftonbladet via machine translation. Micael T: “‘Almost every fourth young person is therefore without a job in Sweden. And the only thing we have seen from Labor Market Minister Mats Persson (L) is that he appeared in Aktuellt at the end of November and said that the unemployed are lazy.’ Neoliberalism Rule #2 – go die!”

Denmark Decides to Change National Emblem Ahead of Trump Jr.’s Visit to Greenland TopWar (Micael T). I cannot verify, but if true, this shows the degree to which Trump is living rent free in some people’s brains.

Old Blighty

Starmer attacks spread of ‘lies’ on grooming gangs as he hits back at Musk BBC. Lead story in UK edition. Nowhere on the landing page, even when you scroll down, on the bbc.com edition.

Elon Musk turns on Nigel Farage and calls for new leader of Reform Guardian. I expect Musk’s interventions to backfire somewhat to bigly. Voters do not like rich foreigners telling them who to support.

This is going to be the worst year for restaurants ever Telegraph

Israel v. The Resistance

Is Gaza REALLY Gone? Norman Finkelstein Answers. India & Global Left, YouTube. Finkelstein for some time has been saying that the Palestinians in Gaza had lost, when that was a decidedly minority view among opponents of Israel’s genocide

Protests break out across Israel as thousands of Israelis demand Donald Trump steps in to ‘end this f***ing war now’, with fiery clash erupting between demonstrators and police Daily Mail

Economic Protests in Several Iranian Cities: “Enough Warmongering, Our Tables Are Empty” Iran Focus

New Not-So-Cold War

What Does Russia mean by, “Demilitarize and Denazify?” Larry Johnson

Thousands without heating in Moldova’s breakaway Transnistria region, after Russian gas supplies cut CNN. Note the lack of agency. It was Ukraine that turned off the gas.

Turkiye

Turkey’s carrier battlegroup takes shape Asia Times (Kevin W)

Syraqistan

Syria monitor: 101 killed in battles between pro-Turkey, Kurdish forces France24

Big Brother is Watching You Watch

Apple auto-opts everyone into having their photos analyzed by AI for landmarks The Register (Paul R). Confirming my reflex to never never never never never never log in to Apple ID (as in synch to their cloud) or update any OS until absolutely necessary. I cannot stand this business model that equipment I buy outright is treated as jointly owned by the vendor.

Used Meta AI to edit a selfie, now instagram is using my face on ads targeted at me reddit (Paul R)

Imperial Collapse Watch

Global Economy Braces for 1930s-Style Unilateralism Bloomberg

US staggers into 2025 buffeted by week of attacks and looming political violence Guardian

Please click through to read the full tweet (hat tip Chuck L). This could as easily be a Class Warfare item, but it illustrates how systems and processes are breaking down and how people are getting chewed up as a result:

U.S. Postal Service worker fatally stabbed inside New York City deli, reportedly over food dispute NBC. More loss of impulse control. We see this at the top of the food chain with the new normal of talk/news show hosts talking over or even yelling down guests

Trump 2.0

Yanis Varoufakis: What to watch for in 2025 – Trump, the US dollar, and China YouTube

A battle is brewing over tariffs among Trump’s team CNN (Kevin W)

Trump backs massive single bill for taxes, border and energy Politico

“BadAss Grandmas” Pushed for an Ethics Commission. Then the North Dakota Legislature Limited Its Power. ProPublica (Robin K)

Immigration

Our No Longer Free Press

Paper Cuts Washington Post. More layoffs.

Collapsing Empire: RIP CIA Front’s ‘Overt Operations’ Kit Klarenberg:

In recent months, a remarkable development in the Empire’s decline has gone almost entirely unnoticed. The National Endowment for Democracy’s grant database has been removed from the web. Until recently, a searchable interface allowed visitors to view detailed records of Washington-funded NGOs, civil society groups, and media projects in particular countries – covering most of the world – the sums involved, and entities responsible for delivering these initiatives. This resource has now inexplicably vanished, and with it, enormous amounts of incontrovertible, self-incriminating evidence of destructive US skullduggery abroad.

The Bezzle

Where the next financial crisis could emerge Financial Times. The unknown here is how much is held by investors who are payment systems players (banks, securities firm) v. big investors like pension funds and sovereign wealth funds. If virtually all the latter, the result of large losses or failure of these funds to pay out would be zombification due to loss of fund wealth and thus income/assets of end beneficiaries. If there is non-trivial payment systems/dealer exposure (say via some of these deep pockets providing financial guarantees that proved to be no good due to losses on private debt funds), then we could see a good old fashioned crisis.

More on the above topic: Easy money from risky loans. What could go wrong? Seattle Times

Tesla is now fighting for its future Telegraph

Class Warfare

Americans are taught FDR was the hero of the Great Depression. For one historian, that’s erasure Guardian (Kevin W)

Antidote du jour (Tracie H):

And a bonus (guurst):

See yesterday’s Links and Antidote du Jour here.

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