Postmodern Entropy: China

It is, in large measure, an old dynamic playing out in new form as
an economically declining Russia, a rising China and an uncertain
United States resume their one-upmanship.

Moscow is fielding big missiles topped by miniaturized warheads, and experts fear that it may violate the global test ban as it develops new weapons. According to Russian news reports, the Russian Navy is developing an undersea drone meant to loft a cloud of radioactive contamination from an underwater explosion that would make target cities uninhabitable.

The Chinese military, under the tighter control of President Xi
Jinping, is flight-testing a novel warhead called a “hypersonic glide
vehicle.” It flies into space on a traditional long-range missile but then
maneuvers through the atmosphere, twisting and careening at more
than a mile a second. That can render missile defenses all but useless.

US accused Russia of “aggressive” and “unsafe” manoeuvres after two Su-24 strike aircraft flew within 30ft of an American destroyer in the Baltic. Across Europe, Russian fighters and bombers have been intercepted while probing the air defences of Nato countries.

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Doomsday clock for global market crash strikes one minute to midnight as central banks lose control

When the banking crisis crippled global markets seven years ago, central bankers stepped in as lenders of last resort. Profligate private-sector loans were moved on to the public-sector balance sheet and vast money-printing gave the global economy room to heal.

Time is now rapidly running out. From China to Brazil, the central banks have lost control and at the same time the global economy is grinding to a halt. It is only a matter of time before stock markets collapse under the weight of their lofty expectations and record valuations.

The FTSE 100 has now erased its gains for the year, but there are signs things could get a whole lot worse.

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8-23

1:02 EST

Nuclear War Looms?

China currency devaluation; Equity markets free to collapse

Doomsday clock for global market crash strikes one minute to midnight as central banks lose control