Toronto: 150 crocodiles and alligators rescued from man’s home International Business Times. They were all in good shape.
Humanity exceeds nature’s budget for 2015 PhysOrg (Chuck L)
By 2100, Earth Will Have an Entirely Different Ocean Motherboard. Translation: the jackpot is coming sooner than you think.
Amazon slowly eaten away by gold rush’s illegal mines PhysOrg (Chuck L) :-(
MIT Has Plans for a Real ARC Fusion Reactor IEEE Spectrum. Chuck L: “Fusion power. Again. On this issue I’m an adopted son of Missouri.”
Clinical trials begin for Russia’s first medical exoskeleton Robohub. Chuck L: “Watch the video.”
China Currency Whackage
Reading the renminbi runes John Authers, Financial Times
China denies currency war as global steel industry cries foul Ambrose Evans-Pritchard, Telegraph
Volatility Saps Momentum for China’s Market Reform Wall Street Journal
What caused the Tianjin blasts? China authorities hunt for clues. Christian Science Monitor
BHP iron ore shipments affected by China blast Sydney Morning Herald
Back to Fundamentals in Emerging Markets Dani Rodrik, Project Syndicate (David L). This part has implications for Greece, which is much more like a developing economy than an advanced economy:
For developing economies, the three key growth fundamentals are acquisition of skills and education by the workforce; improvement of institutions and governance; and structural transformation from low-productivity to high-productivity activities (as typified by industrialization…
Unlike East Asian economies, today’s emerging markets cannot rely on export surpluses in manufactures as their engine of structural transformation and growth. So they are forced to rely more on the longer-term fundamentals of education and institutions. These do generate growth – and indeed are ultimately indispensable to it. But they generate 2-3% annual growth at best, not East Asia’s 7-8% rates.
TTIP: The View from the Other CEPR CEPR. From the press release:
A new issue brief from the Center for Economic and Policy Research (CEPR) examines widely cited studies on the potential gains from the Trans-Atlantic Trade and Investment Partnership (TTIP) and finds that they would deliver just 40 cents per person per day in the U.S., and 0.2 euros per person per day in the EU. Supporters of the deal between the U.S. and EU have touted the supposed gains, but the CEPR brief notes that these gains would easily be dwarfed by losses the great majority of workers would experience due to increased inequality, and also that the original studies did not examine the costs from protections for pharmaceuticals and other non-tariff barriers (NTB).
IMF: Lagarde eyes new act in Greek drama Financial Times
Dubai is the most decadent place on earth Business Insider
The messy US ‘strategy’ in Syria RT (resilc)
Big Brother is Watching You Watch
Imperial Collapse Watch
Jeb Bush’s Appalling Idea of a “Good Deal” American Conservative. Resilc: “He makes Rick Perry seem like an MIT grad.”
Election 2016: Jeb Bush Leveraged Political Connections For Clients And Allies After Leaving Florida Governorship, Emails Show International Business Times. Important.
An alpha-male fantasy that trumps reality Financial Times
Black Injustice Tipping Point
Mentally-Ill Black Women Suffer Horrific Abuses In LA Jails ShadowProof. Resilc: “Where are the Black Congressionals on this outrage? Too busy cashing in with the white guys in Congress?
SEC Admits It’s Not Monitoring Stock Buybacks to Prevent Market Manipulation Dave Dayen, Intercept (Glenn F)
Bernanke, Paulson and Geithner Join Yale Effort to Update Crisis-Response Playbook Wall Street Journal (Chuck L). Bernanke advises Citadel and Geithner is the head of Warburg Pincus. This stinks, even before we get to the “Why should we listen to their advice” problem…
Food Banks Struggle to Meet Surprising Demand Associated Press (resilc) That word “surprising” is increasingly serving as a marker to Bad Thing Happening for which TPTB disavow all responsibility.
The Outrageous Ascent of CEO Pay Bill Moyers
The Economic Inequality in Academia Counterpunch
The Fight Over Transparency: Round Two PLOS (Chuck L). Has implications well beyond the corruption of health care research.
Antidote du jour. Since we’ve been neglecting octopus and they are now in the news, we are making up for lost opportunities. @_bmturner_ via Richard Smith: