UK - Birmingham City Council this week became the latest authority to declare itself effectively bankrupt - following on from five others in just five years. In a statement, the town hall confirmed it had issued the declaration that it cannot balance its books. The scandal echoed similar budget fiascos which have seen authorities in Northampton, Croydon, Thurrock, Woking and Slough declare bankruptcy since 2018. Before that the last one to run out of money was Hackney in 2000.
GERMANY - The 2024 German federal budget, which Finance Minister Christian Lindner (Free Democratic Party — FDP) introduced in parliament on Tuesday, is a war budget in two respects: It plans record spending for waging war and for rearmament, and it declares war on the working class by slashing social spending. If the government coalition has its way, Germany will spend €85.5 billion for military purposes next year, the highest sum since the end of the Second World War. That is more than the military expenditure of any other European country, including Russia. Germany is thus to be built up as the leading military power in Europe.
GERMANY - In mid-August, the Israeli Defence Ministry announced it had received permission from the US to sell the Arrow 3 missile defence system to Germany. The procurement of the system by the German Defence Ministry still has to be confirmed by the parliaments of both countries, but this is considered a formality, according to observers. The German parliament’s budget and defence committees already approved the purchase in June. The move has far-reaching military and geo-strategic implications. According to the German air force, Arrow 3 could be operational as early as 2025. Surrounding the new acquisition is discussion of preparations for nuclear war. The system consists of mobile missile units with a range of up to 2,400 kilometres and three radar systems. Deployed in Germany, Arrow 3 would cover all of Europe, including Moscow and Crimea, as well as half of Turkey and parts of Algeria and Libya. The projectile reaches more than ten times the speed of sound, can engage missiles at altitudes of up to 100 kilometres and can also be used against satellites.
USA - I just got published in Nature because I stuck to a narrative I knew the editors would like. That’s not the way science should work. If you’ve been reading any news about wildfires this summer — from Canada to Europe to Maui — you will surely get the impression that they are mostly the result of climate change.
SAUDI ARABIA - Saudi Arabia has launched an international body that will fund and promote water sustainability projects in developing nations. Riyadh warned that world water consumption is set to double in the coming decades. Crown Prince Mohammed bin Salman announced the initiative on Monday, with the Saudi Press Agency (SPA) noting that the new Riyadh-based Global Water Organization plans to “exchange expertise, advance technology, foster innovation, and share research and development experiences” in the fields of water and sanitation. According to findings by the United Nations published in March, around 2 billion people currently lack access to safe drinking water – or 26% of the world’s population – while between 2 to 3 billion face water scarcity for at least one month out of the year. Another 3.6 billion do not enjoy proper sanitation services, the UN said, warning the problems will only worsen in the future with “the growing incidence of extreme and prolonged droughts.”
GERMANY - As evening fell on a recent Monday in this eastern German city of Gothic spires and Renaissance museums, hundreds of protesters began to gather, just as they have nearly every Monday for at least two years. They carried banners calling for Germany to leave the European Union and cheered speakers who demanded that the nearby border with Poland be shut. They are angry about migrants settling in their communities and inflation squeezing their pensions. They oppose arming Ukraine and say Russian President Vladimir Putin has been unfairly maligned.
USA - The signals coming from House Speaker Kevin McCarthy are that his Republican majority will soon launch a formal impeachment investigation. The final decision hasn’t been announced — and an investigation is still a far cry from a full House vote. But setting up an impeachment committee is an essential first step. Most of his caucus wants to take it. Most, but not all. The reservations of some Republicans and the calculations behind them are why McCarthy has moved slowly. The speaker’s problem is more than rounding up votes. The other problem is the investigation carries real risks…
USA - Saudi Arabia's extension of oil production cuts until the end of 2023 or longer helps ensure energy prices will become an election 2024 battleground. Why it matters: US gasoline prices, which have been on the rise, are closely tethered to global oil prices. Meanwhile, the presidential campaign season is heating up — and voters already give the White House low marks on the economy. If sustained, "crude price strength could weigh on President Joe Biden's re-election bid," ClearView Energy Partners said in a note.
SAUDI ARABIA - The reason Saudi wealth funds are on the rampage, buying everything from stakes in Spain’s Telefonica (owners of the O2 network) to world golf through LIV, is because they are gloriously endowed. The Saudis are engaged in an enormous wealth transfer from motorists and other oil consumers in the West to Middle Eastern potentates and Russia. Left to market dynamics the oil price should be on a downward projection.
ISRAEL - Scientists have grown an entity very close to a human embryo — without using sperm, eggs or a womb. The embryo even released enough of the hormone pregnant women produce that turns a pregnancy test positive, resulting in a positive test result in the lab. Researchers at the Weizmann Institute of Science in Israel made the complete models of human embryos from stem cells generated in the lab after building on previous research where they had made mouse embryos.
UK - Everyday devices like smart speakers, doorbell cameras, TVs and even washing machines are spying on families, it has been revealed. Research shows that standard household amenities are capturing and sharing private information with big tech firms such as Google, as well as Amazon, Facebook and TikTok. It is believed the firms and their business partners are using the information to target people with advertising on smartphones and other devices. The findings by Which? found companies appear to gather far more data than is needed for the product to function. Google Nest smart home products, which include security cameras, smart speakers, doorbell cameras, heating control systems, gather a huge amount of location information on people who connect via smartphones using its Android operating system.
JAPAN - The Japan Aerospace Exploration Agency (JAXA) has successfully launched a lunar exploration craft aboard a domestically produced rocket, and aims to make a precision landing on the Moon by next February. An H-IIA rocket took off from Japan’s Tanegashima Space Center on Thursday, releasing the Smart Lander for Investigating Moon (SLIM) for its several-month voyage to the lunar surface, according to JAXA. Though the $100 million mission got off to a rocky start, with three postponements last month due to poor weather, JAXA noted that the rocket “flew as planned” during Thursday’s launch.
SWEDEN - It was all for nothing. Really, for nothing. The miseries we inflicted on ourselves after March 2020 — the school closures, the ruined businesses, the debts, the authoritarianism — were caused by a moment of lightheaded panic. How can I be so sure? Because, three-and-a-half years on, the results are in. And, let me warn you, they make dismal reading for anyone who went along with the lockdowns. You see, there was a counterfactual all along. Sweden did not impose mask mandates or stay-at-home orders. It did not close its borders or its businesses. Other than banning large meetings, it carried on as normal and told people to use their common sense.
USA - Much has been said and is being said regarding the proxy war between the US and Russia. Those of us in the West rely primarily on news reports. Virtually all news that we see in the media was created by one of three agencies – Associated Press, Reuters, and, to a lesser degree, AFP. All three companies are owned by the same parent companies, who, in turn, own most of the Western corporatist structure, and, not surprisingly, the reports that they distribute to the media are boilerplate. As such, the TV news tends to be uniform, and whenever a new catch-phrase pops up, such as “extreme right activists” or “January sixth insurrection,” it tends to appear in all major media on the very same day and is then used ubiquitously. We, therefore, receive only one “truth,” and we’re left to either accept it or comb the internet for alternate possibilities.
USA - Until recently, Bryan Johnson was paying hundreds of thousands of dollars to infuse one litre of his teenage son’s youthful plasma into his own ageing blood stream every month. “I’ve never paid more attention to what he’s eating … because that was going into my body,” the 46-year-old American tech entrepreneur says on new podcast The Immortals. He also pumped his own plasma into his 70-year-old father’s body to help improve his declining physical and cognitive health: “It was one of the most meaningful moments in his entire life. And it was the same for me.”
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The views expressed in this section are not our own, unless specifically stated, but are provided to highlight what may prove to be prophetically relevant material appearing in the media.