The unimportant news thread

[drogulus]

I read about that.  Really sad.  Also, apparently it's become a thing in NYC for some men to go around slugging a woman who they don't know out of the blue.  So, now it's been extended to men too???      Sad world.

PD

     Buscemi is a hero in NYC for showing up at his old firehouse on 9/11, suiting up and joining the rescue and recovery operation at the WTC.

[Pohjolas Daughter]

Buscemi is a hero in NYC for showing up at his old firehouse on 9/11, suiting up and joining the rescue and recovery operation at the WTC.

Thank you for sharing that.  I didn't know that about him.  What a classy, brave, compassionate and selfless thing to do...not enough words here.

Just found this article:  https://allthatsinteresting.com/steve-buscemi-firefighter

PD

[Todd]

From CBS: Boeing could be criminally prosecuted after it allegedly breached terms of 2021 agreement, feds say

Things are starting to look up for Boeing.  Oh, wait, no, that's not right.

[Dry Brett Kavanaugh]

US Secretary of State, Antony Blinken, picked up a guitar and performed Neil Young's "Rockin' in the Free World".

https://www.cnn.com/2024/05/15/world/video/secretary-state-blinken-ukraine-sings-guitar-ldn-digvid

[Karl Henning]

Mass. Overdose deaths dropped 11% in 2023, according to the CDC.

[Todd]

RIP you sexist, egotistical, lying, hypocritical bigot:

Dabney Coleman, who starred in '9 to 5' and 'Tootsie', dies at 92

[SimonNZ]

RIP you sexist, egotistical, lying, hypocritical bigot:

Dabney Coleman, who starred in '9 to 5' and 'Tootsie', dies at 92

Its called "acting"

For an actual second there I wondered if you were like Brook Shields character on Friends.

[DavidW]

Its called "acting"

Todd knows... he is quoting the movie.

From imdb:

Franklin Hart, Jr.: I don't know! I'm not such a bad guy!
Judy Bernly: You're a sexist, egotistical, lying, hypocritical bigot.

[Todd]

From Newsweek: China's Moves Away From US Dollar Hit New Milestone

It's a mainstream corporate press story covering a more complex and nuanced story that gets more detailed coverage elsewhere.  Like the IMF: Geopolitics and its Impact on Global Trade and the Dollar

...[g]iven the reshaping of trade relations, has the currency composition of trade finance changed during 2022-23?

The answer is not much for U.S.-leaning countries, but there have been more visible changes for China-leaning countries.

For the China bloc, the USD share of trade finance payments has declined since early 2022. At the same time, the RMB share has more than doubled, from around 4 percent to 8 percent.

This is not a Russia only story. In fact, the share of RMB in trade finance for the China bloc would be only slightly lower if Russia were excluded from it. Most RMB denominated trade finance captured in the SWIFT data reflects transactions between China and China leaning countries.

For China, the share of RMB in all cross-border transactions of Chinese non-bank entities with foreign counterparts was close to zero 15 years ago but has risen to reach around 50 percent in late 2023. In contrast, the USD share has been on a declining trend, falling from around 80 percent in 2010 to 50 percent in 2023 . . .

Looking at global FX reserves, the most notable development during 2022-23 has been an increase of gold purchases by central banks.

Gold is generally viewed as politically neutral safe asset, which can be stored at home and be insulated from sanctions or seizure. It can also be an inflation hedge but cannot be easily used in transactions.

The share of gold in the FX reserves of the China bloc has been rising since 2015—a trend not exclusively driven by China and Russia. Importantly, during the same period, the share of gold in FX reserves of countries in the U.S. bloc has been broadly stable.

This suggests that gold purchases by some central banks may have been driven by concerns about sanctions risk. This is consistent with a recent IMF study[3] confirming that FX reserve managers tend to increase gold holdings to hedge against economic uncertainty and geopolitical including sanctions risk . . .

For example, many countries are following closely the ongoing discussion about potential use of Russian state assets, including reserves of the Bank of Russia, to support Ukraine. While this is for relevant courts and jurisdictions to determine, for the IMF, it is important that any action has sufficient legal underpinnings and does not undermine the functioning of the international monetary system.

The presentation includes multiple references to FDI, which itself is facing headwinds, at least per the OECD: "Global FDI flows dropped by 7% in 2023, to USD 1 364 billion, continuing on a declining trend and remaining below pre-pandemic levels for the second consecutive year."

Given that the US had two undersubscribed Treasury auctions in Q4 last year, something not even reported in the mainstream corporate press at all, and mercantilist policies have ramped up since the IMF presentation earlier this month, it increasingly, on a weekly basis, looks like the 2030s are going to be a rollicking good time.

[Todd]

From NBC: International Criminal Court prosecutor applies for arrest warrants for Netanyahu and Hamas leader Sinwar

Gosh, there's a warrant for Pootie Poot outstanding.  Now there's gonna be one for Bibi. 

I wonder if there will ever be one for Clinton for Yugoslavia, Sudan, Afghanistan, and Iraq (sanctions leading to mass starvation per UNICEF and the Geneva International Centre for Justice).

Or Dubya for Iraq, Afghanistan, global torture program, global drone war, Gitmo. 

Or Obama for Libya, Syria, Iraq, Afghanistan, global drone war, Gitmo.

Or Trump for Syria (and for Raqqa, specifically), Afghanistan, the assassination of General Soleimani, global drone war, Gitmo

Or Biden for the global drone war including the now (in)famous partial liquefaction of seven children at a wedding, Gitmo, and of course, for aiding and abetting Bibi. 

jk - the USA is above international law, quite literally.

It will be entertaining to watch some people who claim to support international law rationalize why it does not apply to Bibi.  Forget Netflix, international law is a joke.

[steve ridgway]

jk - the USA is above international law, quite literally.

Well the USA is such a large and varied country that being unable to leave it for fear of being arrested is not such an inconvenience. Unless of course you have a keen interest in history .

[Karl Henning]

Old Greenland Shark.

[steve ridgway]

Old Greenland Shark.

The long lifespan of these animals is attributed to their extremely slow metabolism and the cold waters they inhabit. They move through the Arctic and North Atlantic waters at a very slow pace, earning them the nickname "sleeper sharks."

Best not do too much exercise then .

[AnotherSpin]

The long lifespan of these animals is attributed to their extremely slow metabolism and the cold waters they inhabit. They move through the Arctic and North Atlantic waters at a very slow pace, earning them the nickname "sleeper sharks."

Best not do too much exercise then .

The sofa is the best exercise device, no matter what they say.

[Dry Brett Kavanaugh]

Gen Z really are the hardest to work with— even managers of their own generation say they're difficult.


https://fortune.com/2024/05/28/gen-z-most-difficult-work-research-managers-hirable-baby-boomers/

[Todd]

From IIF Global Debt Monitor: Navigating the New Normal

Global debt increased by $1.3 trillion in the first quarter of 2024, reaching a new record high of over $315 trillion - 333% of GDP. This increase marks the second consecutive quarterly rise and was primarily driven by emerging markets, where debt surged to an unprecedented high of over $105 trillion—$55 trillion more than a decade ago...

Although the relatively sanguine near-term global economic outlook is a positive factor for debt dynamics, stubborn inflation, particularly in the U.S., continues to pose a significant risk, putting upward pressure on global funding costs. While the health of household balance sheets should provide a cushion against "higher for longer rates" in the near term (Chart 2), government budget deficits are still higher than pre-pandemic levels and are projected to contribute around $5.3 trillion to global debt accumulation this year.

[Spotted Horses]

Apparently Sam Ash, the musical instrument retailer, so going out of bankrupt. I saw an ad on Facebook. They claim to offer Gibson Guitars on sale for ~$100, down from an original price of $800. The thing is, these guitars, if they are really Gibsons, should cost ~$8,000, not $800. Scam? Does Gibson have a line of trash guitars for $800?

Pretty obvious it is a fraud.

[Dry Brett Kavanaugh]

Robert De Niro denied leadership award after speaking out against Trump: National Association of Broadcasters rescinds honor after actor's comments outside ex-president's criminal trial in New York.

https://www.theguardian.com/film/article/2024/may/31/robert-de-niro-denied-award-trump

[Todd]

UN chief says world is on 'highway to climate hell' as planet endures 12 straight months of unprecedented heat

Gee-whiz, climate change catastrophists are no longer content to wait for a full calendar year to elapse before uttering prognostications of doom.  Perhaps monthly or weekly pronouncements can be made.

The article indicates that by 2028, the world will break the 1.5 degree average temperature increase included in the non-binding Paris Agreement.  I wonder if there's an under/over on hitting this threshold on any betting sites.  Surely, we can surpass the target in 2027.

[Todd]

China eyes closer ties with Turkey to take on global 'power politics'

Central to the meeting between Türkiye and China is the former joining BRICS.  If this occurs, it means Türkiye will trade less with EU countries, more with BRICS countries, and the strategic relationship with NATO will be strained and begin to erode.  If ruptured, that means Türkiye could leave NATO, meaning NATO would lose control over one of the most strategically important waterways in the world.  Alternatively, this just could be a case of Türkiye upping pressure on the EU for movement on that front, which could mean that this story, rather than marking a fundamental geostrategic shift, could simply represent a negotiating tactic and therefore be unimportant.