ECONOMY

Links 5/3/2025 | naked capitalism

Stream Online Monty Python and the Holy Grail Free on Its 50th Anniversary Open Culture (Micael T). News you can use!

Tolkien Against the Grain Dissent (Anthony L)

Avoid one-night stands to prevent drug contamination, athletes told The Times (Micael T)

Global health funding faces worst crisis ‘in memory’, WHO chief says Aljazeera

#COVID-19/Pandemics

Discovery Explains Long COVID Breathing Problems UVA Health

Kennedy Orders Search for New Measles Treatments Instead of Urging Vaccination New York Times

Climate/Environment

Bank of England watchdog tells banks and insurers to fix climate risk ‘gaps’ Financial Times

Study Finds Synergistic Convergence of Global Warming, Pesticide Toxicity, and Antibiotic Resistance Beyond Pesticides

Bees, fish and plants show how climate change’s accelerating pace is disrupting nature in 2 key ways The Conversation

Dying satellites can drive climate change and ozone depletion, study finds Guardian

China?

Trump’s Trade War Is Helping Unite Chinese People Around Xi Bloomberg. As we predicted, but this was a very easy call. More important, this will enable the government to depict poor economic performance solely to the tariffs, when there may well be other contributing factors, like continuing unwind of the housing bubble.

Trump Tops Tariffs On China With Sanctions Moon of Alabama

The US has begun sharing rare intelligence on Chinese space weapons with British military chiefs Telegraph

It’s not just Greenland: Inside the fight the U.S. faces to keep a tiny Pacific island out of China’s grasp Independent. Headline gets a “Department of “huh?” notice.

India-Pakistan Row

India-Pakistan tensions show signs of easing Indian Punchline

India Makes Diplomatic Push for Military Action Against Pakistan Foreign Policy

India

India is Paying $288 Million Per Fighter For New Rafales: They Are Already a Generation Behind Military Watch

Africa

Tipping points: South Sudan on the brink of collapse? IISS

European Disunion

How the EU wants to channel its savings into armaments Anti-Spiegel via machine translation (Micael T)

Drought fears for grains growing season mount in Central Europe EurActiv

European Union prepares new sanctions on Russia over Ukraine war France24

Macron attempts to interfere with papal conclave – media RT (Kevin W)

Larvae in wounds – management makes millions of cuts Aftonbladet via machine translation (Micael T)

Old Blighty

The Reform revolution has begun Telegraph

Reform has put the two traditional parties on notice – and we don’t know where this ends. Sky

Terminal Decline Sam Freedman

UK exports in worst slump since Covid: Bank of England tipped to cut rates to 3.25% this year This Is Money

Britain Is Toast, Period Ian Welsh (Micael T)

Israel v. the Resistance

“Deprivation by Design:” Israel Intensifies Mass Killing Campaign in Gaza with Starvation and Daily Strikes Drop Site (Robin K)

Egyptian official: US bet that Israel can force more concessions from Hamas ‘a mistake’ Times of Israel

The Vach brothers: Israel’s first family of genocide The Electronic Intifada (guurst)

Israel Bombs Humanitarian Aid Flotilla on Way to Gaza Antiwar.com. We reported on this incident but it’s important not to miss. Kevin W: “Bunch of fuckwits. Don’t they realize that by doing so, it has given other actors the license to do the same to Israeli ships?”

I was a nuclear weapons inspector – Iran could have a bomb in six months iPaper

More Israeli strikes on Syria reported after Damascus warns of escalation Aljazeera

New Not-So-Cold War

War in Ukraine not ending ‘any time soon’, Vance says BBC

Radio Liberty Let The Cat Out Of The Bag Regarding The EU’s Game Plan For Ukraine Andrew Korybko (Micael T)

EU to tap frozen Russian funds – Reuters RT (Kevin W)

US and Ukraine sign minerals deal that solidifies investment in Kyiv’s defense against Russia Guardian. Indicating that Ukraine allies anticipate the minerals pact will work out in the manner that we warned…that it would re-anchor the US to Ukraine, even if we aren’t in practice able to do all that much.

Big Brother is Watching You Watch

Irish Privacy Watchdog Fines TikTok $600 Million For China Data Transfers Associated Press

Imperial Collapse Watch

The helicopter, symbol of American hubris Engelsberg Ideas. On the fall of Saigon.

Dangerous Chimera – Colin Kidd London Review of Books (Anthony L). Important.

How Russia’s navy became bigger than Britain’s Ian Proud

China muscling in on US Egyptian ally Asia Times (Kevin W)

The UN could run out of cash within months Economist

Trump 2.0

US army plans for a potential parade of 6,600 soldiers on Trump’s birthday Guardian (Kevin W)

Trump budget proposes $1 trillion for defense, slashes education, foreign aid, environment, health and public assistance CNN (Kevin W)

On the Day He Was Fired as National Security Advisor, Mike Waltz Used an Israeli App to Archive Signal Messages Drop Site

Trump says short-term recession OK: “This is a transition period” Axios. Lordie. Things are darkest before they go completely black.

Trump’s Policies Are Creating Uncertainty for Fossil Fuel Companies Wired (Robin K)

Vilsack says farms, not farmers, should work harder to grow rural communities Iowa Capital Dispatch

Tariffs

Trump ends duty-free for low-value Chinese imports in trade war escalation Anadolu Agency

Trump hints at tariff reprieve for pharma companies that bring operations back to US Guardian (Kevin W)

Temu To Stop Selling Goods From China Directly To US Customers BBC

DOGE

ELON MUSK ADMITS HE FAILED TO CUT $2 TRILLION IN FEDERAL FAT, BUT SAYS AT LEAST HE ENJOYED HIS TRUMP SLEEPOVERS WITH ICE CREAM Futurism (Micael T)

Immigration

Trump’s immigration ‘shock and awe’ is losing in the court of law Politico

Texas Judge Strikes Down Trump’s Use of Alien Enemies Act to Deport Venezuelans New York Times (Robin K)

Our No Longer Free Press

Mr. Market Is Moody

Fear of gas market price shocks spreading among energy traders Energy Watch

Antitrust

US Asks Judge To Break Up Google’s Ad Tech Business Guardian

AI

AI models routinely lie when honesty conflicts with their goals The Register

First Driverless Semis Have Started Running Regular Longhaul Routes CNN

The Bezzle

Credit Bubble Bulletin : Weekly Commentary: The Typical and Atypical. resilc hoists this section:

May 2 – Bloomberg (Sonali Basak): Private credit fund investors are offloading stakes at significant discounts ahead of more potential pain for the US economy, Oaktree Capital Management Co-Chief Executive Officer Robert O’Leary said. Oaktree sees more chances to buy marked-down assets…, where private asset holders sell stakes in relatively illiquid funds to bring returns to their own investors. That activity has been building in private equity for some time, but credit investors are now putting up bigger trades… Discounts are starting at about 90 cents on the dollar and going as low as the ‘50 cent range,’ he said… Limited partners are taking matters into their own hands given a desire ‘to get out of this before a fall.’ He said the current discounts don’t include a lot of deterioration in credit quality, and as the economic outlook worsens, those discounts will get bigger. ‘To date, we haven’t seen forced selling, there haven’t been really dire liquidity situations that people need to address… I think we’re going to get into more sort of anxious points in time where LPs will want to trade…’ Private credit has grown rapidly in recent years to become a $1.6 trillion industry… High-yield debt markets could see high-single-digit default rates, he said. Other markets are even more vulnerable. ‘If loans are going to see double-digit defaults, I see no reason why ultimately private credit couldn’t end up there,’ he said. ‘It’s poorly underwritten, in the main. I’m not saying everybody is’… Many companies with too much debt are simply limping along… O’Leary said this week that investors have not opened up to idea that we might be facing a recession or are already in one. O’Leary said a downturn could be as serious as the dot-com bubble. ‘That was traumatic, that was pretty V-shaped, so we came out of it pretty quickly… The problem here is you’re starting to put in place barriers that will shape the behavior of our counterparties.’

UK Preparing To Ban Consumers From Buying Crypto With Borrowed Funds Guardian

Mark Zuckerberg just declared war on the entire advertising industry The Verge (Kevin W)

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See yesterday’s Links and Antidote du Jour here.

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