• Daily Digest

    Daily Digest 10/1 — UK Food Banks ‘Prepare for the Worst’; US Stocks Climb as Progress on Merck’s Antiviral Pill Offsets Inflation Data…

    by Whitney

    Friday, October 1, 2021, 10:24 AM

Economy

UK food banks ‘prepare for the worst’ – The Daily Star

Charity food banks in Britain are “preparing for the worst” as the government starts winding up emergency aid measures put in place to cushion the coronavirus pandemic’s impact on millions of workers and low-income households.

An extra weekly payment of 20 pounds ($27) to support the country’s poorest families will be cut next month, and more than a million workers face an uncertain future as Britain becomes the first big economy to halt its Covid-19 jobs support scheme.

China Evergrande says made 10% repayment of wealth management products due Sept 30 – Reuters

China Evergrande’s wealth management unit has made a 10% repayment of wealth management products (WMPs) that are due by Sept 30, the indebted developer said on Thursday.

US stocks climb as progress on Merck’s antiviral pill offsets new inflation data – Business Insider

US stocks turned positive on Friday after Merck announced successful results for its antiviral drug in the treatment of COVID-19.

Will $80 Oil Destroy Demand? – OilPrice.com

Oil prices at $80 a barrel are, in theory, good for the budgets of major oil-exporting countries. But prices at their highest level in three years could soon prove to be too good to be true for producers. Major importers generally draw the line at $80 oil, while the recovering global economy may be unable to sustain soaring energy costs with higher oil prices on top of record prices of natural gas, coal, and electricity in both mature economies in Europe and developing economies in Asia

Environment

These are the cities successfully weaning themselves off of coal – Quartz

Countries around the world will need to phase out coal as a major energy source if the world is to reach its climate targets to avoid dangerous warming. Today, coal power makes up 38% of the electricity grid, and most countries outside of Europe and North America are on track to continue and expand the use of coal.

But cities, which account for two-thirds of the world’s energy use, are taking the lead in ditching coal as an energy source, according to a new report from C40 Cities, an international organization of city leaders enacting climate measures.

Health

WHO ‘fell short’ and needs reform post-pandemic, UK parliamentary committee says – The Telegraph

The push to reform the World Health Organization (WHO) post-Covid-19 gained momentum this week with a UK parliamentary committee throwing its weight behind calls for change.

CTC of Middle Tennessee recruiting for study of Ivermectin, 2 other drugs to fight COVID-19 – WKRN

Clinical Trials Center of Middle Tennessee has joined a new nationwide study that’s testing three drugs, including Ivermectin, that could treat COVID-19 symptoms.  CTC is now recruiting people age 30 or older who have tested positive for COVID-19 and showing symptoms to participate in the trial.

Related content
» More

14 Comments

  • Fri, Oct 01, 2021 - 12:52pm

    #1
    westcoastjan

    westcoastjan

    Status: Platinum Member

    Joined: Jun 04 2012

    Posts: 1066

    5

    Breaking news-Premier of New South Wales resigns

    https://t.me/VancouverIslandFreedomAlliance/8738

    Australia’s Gladys Berejiklian Quits as New South Wales Premier Over an Anti-corruption Probe.

    Gladys Berejiklian, The Premier of The Australian State of New South Wales (NSW), Has Abruptly Resigned After the State’s Corruption Watchdog Said It Was Investigating Whether She Was Involved in Conduct That “Constituted or Involved a Breach of Public Trust”.

    Looking for other sources to verify...

    Edit: adding another source:

    https://www.abc.net.au/news/2021-10-01/icac-investigating-gladys-berejiklian-daryl-maguire/100506956

    Login or Register to post comments

  • Fri, Oct 01, 2021 - 1:42pm

    Dontknownothin

    Dontknownothin

    Status: Gold Member

    Joined: Mar 14 2020

    Posts: 581

    2

    Dontknownothin said:

    That's usually a sign of innocence right?

    Login or Register to post comments

  • Fri, Oct 01, 2021 - 1:42pm

    Gregory

    Gregory

    Status: Bronze Member

    Joined: Nov 02 2020

    Posts: 134

    3

    Gregory said:

    they resign but they don't pay for their crimes, and someone just as bad from the same corrupt WEF party takes her place. N.Y. is a good example.

    Login or Register to post comments

  • Fri, Oct 01, 2021 - 1:48pm

    Susan7

    Susan7

    Status: Silver Member

    Joined: Feb 15 2020

    Posts: 210

    4

    Susan7 said:

    Good riddance to a tyrant. Only 3657 more to go.

    Login or Register to post comments

  • Fri, Oct 01, 2021 - 5:30pm

    #5
    westcoastjan

    westcoastjan

    Status: Platinum Member

    Joined: Jun 04 2012

    Posts: 1066

    3

    Banking outages happening around the world

    https://www.zerohedge.com/markets/banks-around-world-are-suffering-big-outages-leaving-millions-customers-lurch-worst

    ...... “A Growing Trend”

    In the UK the Financial Conduct Authority has been “deeply concerned” about the increasing number of technology outages for a number of years. At the FCA’s annual public meeting in 2019, the regulator’s executive director of supervision, Megan Butler, said the number of incidents of “operation resilience breaks” reported in terms of IT failings had increased 300% year-on-year. And this, she said, would probably be “a growing trend,” though it is partly due to the rise in reporting of events.  .....

     

    Login or Register to post comments

  • Sat, Oct 02, 2021 - 1:47pm

    #6

    thc0655

    Status: Platinum Member

    Joined: Apr 27 2010

    Posts: 2724

    6

    Jim Rickards on the dangerous Evergrande crisis in China

    https://dailyreckoning.com/the-next-lehman-moment/

    The happy talk out of Wall Street would have you believe that the Evergrande financial collapse in China is under control and that responsible parties have taken steps to avoid a “Lehman moment” in Chinese capital markets.

    Almost everything about that narrative is factually wrong. It’s Wall Street happy talk at its finest, assuring investors that things are under control while the smart money runs for the hills. Something closer to the truth was reported the same day in The Wall Street Journal. Here’s their summary:

    Chinese authorities are asking local governments to prepare for the potential downfall of China Evergrande Group, according to officials familiar with the discussions, signaling a reluctance to bail out the debt-saddled property developer while bracing for any economic and social fallout from the company’s travails…

    Local governments have been ordered to assemble groups of accountants and legal experts to examine the finances around Evergrande’s operations in their respective regions, talk to local state-owned and private property developers to prepare to take over local real estate projects and set up law enforcement teams to monitor public anger… a euphemism for protests, according to the people.

    China’s Bogus Plan

    This actual crisis management plan is the worst possible playbook. Why?

    Any response to a financial crisis has to be centralized so that decisions about how to deploy limited resources can be made rapidly. Some lenders must be saved, some should be allowed to fail. Equity holders should be wiped out. Foreign investors in dollar-denominated debt of Evergrande will be left to fend for themselves and possibly seek relief in their home countries.

    The point is these types of decisions cannot be made by “local governments” as proposed by the Chinese. The government plan is not a serious effort to truncate a financial crisis. It seems designed more to suppress social unrest and perhaps arrest “troublemakers.”

    Western analysts don’t understand this dynamic because they view events through the lens of Wall Street and Washington norms.…

    Login or Register to post comments

  • Sat, Oct 02, 2021 - 2:02pm

    SagerXX

    Status: Gold Member

    Joined: Feb 11 2009

    Posts: 684

    14

    Just because Evergrande is a slow roller...

    ...does't mean it isn't going to flatten a whole lot of things.

    And FWIW, I believe the Chinese are willing to take a hit to their markets because they see us as being in a much more fragile/precarious situation just now.  So they'll take a gut punch in order to see us take a number of shots upside the head.  Maybe a knockout punch, hard to say.

    I'm getting money outside the banking system and buying assets like mad (dietary supplements and medicines, garden tools, stocking up on gas and propane, batteries for power tools [to be charged by my solar array]) and so on.  Managed to convince my sweetheart's mother to buy a Nissan Leaf (which can be used like a big battery [they have a big solar array, too], not to mention a gas-free automotive option).

    And of course, preparing emotionally and psychologically.  It's going to be like somebody dear to us died.  The Just In Time/Endless Credit/Convenience, economy.  RIP.

    One is never ready, but there are degrees of "oh SH!T I am NOT READY"...  If it all goes boom before banks open on Monday, I'll be mightily inconvenienced, but not desperate.  I'm already making mental lists of who gets to join our on-site campout-and-garden team.  That's how I'll be able to help the people around me.

    May Fortune smile!

    VIVA -- Sager

    Login or Register to post comments

  • Sun, Oct 03, 2021 - 12:26pm

    #8
    westcoastjan

    westcoastjan

    Status: Platinum Member

    Joined: Jun 04 2012

    Posts: 1066

    6

    Fear from a different angle

    Neil Oliver in a worth watching, thought provoking 7-minute take on where the fear actually resides.





    Login or Register to post comments

  • Sun, Oct 03, 2021 - 1:25pm

    #9

    thc0655

    Status: Platinum Member

    Joined: Apr 27 2010

    Posts: 2724

    9

    100% vaxxination rate and vaxx passports don’t stop Covid outbreak on cruise ship

    https://nypost.com/2021/10/02/five-passengers-on-first-post-covid-cruise-from-nyc-test-positive/?utm_source=NYPTwitter&utm_medium=SocialFlow&utm_campaign=SocialFlow

    At least five passengers on the first cruise out of New York City since the COVID-19 pandemic began have tested positive for the virus.

    The passengers were aboard the Crystal Symphony, en route to Bermuda, when their PCR tests came back positive, according to Crystal Cruises.

    The COVID-positive were transferred to quarantine hotels on Bermuda. The passengers and ship were then subjected to quarantine and retesting on the ship.

    The 781-foot vessel can carry 848 passengers, according to the company, which wouldn’t say how many were aboard.

    All guests were required to be vaccinated to board the cruise.…

    Login or Register to post comments

  • Sun, Oct 03, 2021 - 2:04pm

    Shirley Jacobson

    Shirley Jacobson

    Status: Bronze Member

    Joined: Feb 13 2010

    Posts: 35

    0

    Shirley Jacobson said:

    But were they sick with COVID symptoms? Tests caren't accurate.

    Login or Register to post comments

  • Sun, Oct 03, 2021 - 2:08pm

    Bradford

    Bradford

    Status: Bronze Member

    Joined: Mar 23 2009

    Posts: 89

    6

    The fear has been carefully cultivated by design!

    "Why Do So Many Still Buy into the Narrative?"  This is a truly brilliant interview that explains in depth the Psyop of mass-hypnosis that the Deep State/Global Cultist Elites have leveled against the rest of us, their enemy.

    https://www.youtube.com/watch?v=uLDpZ8daIVM

    Interestingly, it explains why you still see people wearing a mask while driving alone in their car..."the more absurd that the behavior is, then the better it will perform as a ritual...the more absurd they are, the more clearly they communicate to the group of one's solidarity."

    Here is an excellent summation that one person posted in the comments below the video:

    Summary - for *Mass Formation* to occur, 3 things must 1st be present: 1) Lack of social bonding ( isolation ) 2) Lack of meaning making ( alienation ) 3) Free floating anxiety that something is wrong but not knowing what or how to solve it ( anxiety )

    When these are present, a SOLUTION narrative can be presented: 1) Bring people "together" through shared absurd rituals that show people they belong to a group (mask wearing, 2 meter distancing, self-quarantine) 2) Give people a sense of purpose ("I am doing my part, I'm flattening the curve, I'm saving grandma, etc.") 3) Partially keep the anxiety in check by giving people an "enemy" and a "reason" against which they are fighting (but NOT actually solving the problem). .... while at the same time re-enforcing the requirements for mass-formations (isolation, alienation, anxiety): The MORE absurd the shared rituals are, the BETTER they work against those who are isolated, alienated, afraid and anxious.

    My SOLUTIONS : 1) Anxiety : stop following NEWS and Social Media (stop the source of future/fear related anxiety) 2) Isolation : start physically meeting people in normal setting, doing daily fun stuff , NOT talking about COVID related stuff (also, be physical, outside, not just inside looking at screens) 3) Alienation: start doing (together with other people) hobbies, work or helping others that gives YOU meaning and purpose (a good feeling, a feeling you belong , feeling you have a purpose)

    Login or Register to post comments

  • Sun, Oct 03, 2021 - 2:12pm

    #12
    CrLaan

    CrLaan

    Status: Bronze Member

    Joined: Sep 05 2010

    Posts: 108

    0

    CrLaan said:

    The virus has been isolated or is it just a syndrom?

    Login or Register to post comments

  • Sun, Oct 03, 2021 - 7:42pm

    Hohhot

    Hohhot

    Status: Silver Member

    Joined: Mar 12 2020

    Posts: 293

    6

    Chinese are different breed of dog

    I cannot predict what wild or illogical moves the CCP will do to save face and try to stabilize their economy.  My guess is to go full war mode and annex Taiwan and its assets.  They've already blown through HKG.

    Why choose this? They originate nothing, so they can't produce or innovate their way to a good economy. No new ideas because when you try something new, there are inevitable failures.  Failures are NOT permitted especially if the CCP is directly involved so no innovations as no incentives.  It's not that there aren't clever people who are capable, it is the cultural bias against any failure.  People will commit suicide due to shame of failed business.

    No medium/small business can get money from the CCP controlled banks. Loan sharks literally line the hallways of banks to pick people off.  Who funds them? CCP members and gangsters. No branch of same name bank interacts with the other.  Each is its own kingdom. You can use a generic ATM, but you cannot do any account changes except at the bank of origin.

    With the one child policy, they are male disproportionate and upside down with the elderly.  They can't think/produce their way out of this mess, they can only acquire from others.  Belt and Road countries are set up to fail and default hard assets to the CCP. Did you know the Italians are the first EU nation to do it? Committing national suicide?

    The Chinese mentality is that whatever the cost, you must win; and we can afford the deaths of a few million.  As the oldest brother, we will prevail.

    The whole GDP financial system has been a house of cards prior to Evergrande. Provincial mayors and leaders are given a quota of GDP to make. When they build roads, or apartment buildings, etc. that counts as GDP.  Here's the catch: Once built, there are no annual property taxes so no direct income once established. That's why they're constantly moving farmers into the cities- more land. One time hit. They recently instituted some tax on property when you resell. The people had a fit.

    Foreign businesses that make money are always taken over by a CCP member and the foreigner's assets seized and he is booted out.  For a great example, read Mr. China

    https://www.amazon.com/Mr-China-Memoir-Tim-Clissold/dp/0060761407

    Don't think there will be any maintenance on the big new buildings...ever. That costs money and they ain't paying. They will tear down and build new before that happens. Beautiful buildings fail and fall to bits within 5 years. What about the average guy? Whole apartment blocks for the poor are bought up by the wealthy to remain empty for years. Then when the rich sell, they expect a profit.

    Additionally they will tear up and repave the same main roads every 1-2 years. Why? When we "do work" money changes hands and everybody gets a cut in a big governmental circle. They also know exactly how much it will cost so we know how to skim. Have seen whole sections of access to brand new highways trenched overnight ( so no one can film them) to render roads unuseable.

    Why not use the money around the sides to help the people? Ha! The side streets can be literally waste high in water and sewage with the annual rains, but there will be no work on the drains. and heaven forbid, no paving or grading to fix it.

    The same applies with the Ghost Cities and unfinished buildings where the developers sold the same apartments to three different people. It's a mess.

    The local farmer is getting forced out of the market place as the new rules are that all land is strictly controlled by the govt.  Wet lands are being fenced off.  You can't raise animals/crops for personal use.  Everything is suddenly a paid fee to raise anything. This also centralizes food controls. China has starved millions before with their policies.

    Look at what's happening in the USA, Canada especially with supply chains and slaughter houses...any different? Our overlords are taking a page from Mao's red book. He promised the sharecropper farmers the land if they supported him. When in office, it became "all is a collective owned by the government."  Kinda like the bait and switch vaccine freedom..."take a shot and get your life back."  We see how well that's going.

    Whatever they do to dig themselves out, it won't be good for anyone. Don't be surprised if there is an outrageous act or inhumane solution. Its how they think.

    Login or Register to post comments

  • Sun, Oct 03, 2021 - 7:54pm

    Anthony Lu

    Anthony Lu

    Status: Member

    Joined: Sep 03 2021

    Posts: 12

    7

    Anthony Lu said:

    To Hohhot:

    Your post topic "Chinese are different breed of dog" is a bit incendiary. I would have taken more pains to distinguish 'Chinese' from 'Chinese Communist Party'. But aside from that, I am in general agreement with you. To quote you: "Whatever they do to dig themselves out, it won't be good for anyone. Don't be surprised if there is an outrageous act or inhumane solution. Its how they think." This sums it up perfectly. There are still too many citizens of Western democracies who are unable to grasp the magnitude of the danger.

    Login or Register to post comments