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China starts building long-distance nuclear heating pipeline https://www.world-nuclear-news.org/Articles/China-starts-building-long-distance-nuclear-heatin Back in 2004, Michael Parenti said that the policies of the unipolarist neoconservative ideology that rules US politics would push for a strategic confrontation with Beijing. Today we're seeing the culmination of these policies come to fruition. US regulators close New York’s Signature Bank, citing systemic risk An important aspect of economic crashes is that things never recover back to the previous level, and the whole system becomes increasingly more unstable over time. One key reason is that crashes result in wealth concentration. People become insolvent and default on their debts, then the oligarchs swoop in and buy up the assets on the cheap. A necessary result of capital concentration is that majority of the people end up living on increasingly thinner margins. They own less and owe more debt.  @yogthos I think that most world has never seen a real economic crisis, what we have seen is mostly a purposeful devaluation of critical assets so the kleptocracy can take them. In times of crisis their core assets take up value, and they amass whatever they can. The rest of the time the central banks protect them from any kind of deflation, which would probably be one of a few ways they would take a hit. @yogthos which is why ultimately disaster capitalists don’t mind crashes : they see opportunity for self enrichment. In a 2018 Purdue survey, Chinese students in the US developed better opinions of China and slightly worse toward the US. Seeing what US is really like quickly makes people realize that China is indeed on the right track. Precise fermentation allows production of real dairy, without the need for cows Joe Biden provides an incoherent response when asked about Iran and Saudi Arabia reestablishing diplomatic relations. White House press secretary, Karine Jean-Pierre then proceeds to add to the mess. This is the state of US politics. @yogthos "i didn't hear the question posed to him and i didn't hear him answer it." oh ok then. The four biggest U.S. banks lost $52 billion of market value Thursday, part of a broad rout across financial stocks. US child labour violations rise as businesses defy laws to fill roles Instead of paying adults more, some US states might let companies hire kids as young as 14 to fill the labor shortage @yogthos holy shit this is wild. 14 year olds in meat packing plants is some turn of the century robber baron shit, just mask off with this. One way to measure the magnitude of a bank's failure is by the amount of assets the bank held. By that measure, SVB's collapse is the second largest bank failure of all time, and the largest since 2008. https://yarn.pranshum.com/banks I knew things were bad in Europe, but visualizing it really puts things in perspective https://tradingeconomics.com/germany/food-inflation The agreement negotiated in Beijing to restore relations between Saudi Arabia and Iran leaves Washington left on the sidelines. https://www.nytimes.com/2023/03/11/us/politics/saudi-arabia-iran-china-biden.html EU paper predicts sombre future for the German economy: The EU’s largest economy is steering towards a bleak future, with businesses more pessimistic than during the height of the pandemic, a leaked EU paper reads.
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  This so-called bipartisan system prevailing in America and Britain has been one of the most powerful means of preventing the rise of an independent working-class, i.e., genuinely socialist, party. - Lenin https://www.marxists.org/archive/lenin/works/1912/nov/09.htm  @yogthos I don't often agree with Vladimir Ilyich, but he was right on the money there! China is now as big as the US and the EU combined in terms of manufacturing value added (a measure of the net-output of all manufacturing activity in a country). |
