So proclaims the provocative headline of commentary from the official Xinhua news agency that spread widely on major Chinese news sites on Thursday (in Chinese) and has since become the subject of much teeth-gnashing on Chinese social media sites.Sponsored Ads
The essay, which warns that China faces poverty and misery because of the destabilizing activity of its growing population of microbloggers, hits at the heart of the ideological divide in China and suggests conservatives are growing increasingly anxious about the direction Chinese president Xi Jinping might take as he looks to reform the Communist Party.
Chinese government-backed hackers have cost the United States nearly $2 trillion in “lost and stolen property” that was seized through illicit Internet attacks, Rep. Mike Rogers (R., Mich.), chairman of the House Permanent Select Committee on Intelligence, said Monday.
The theft of proprietary information and technology by the Chinese constitutes “the largest transfer of wealth illegally in the world’s history,” according to Rogers, who warned that the United States is not prepared to combat these cyber threats.
Chinese military units identify vulnerable U.S. companies and then instruct a team of hackers to steal industrial secrets and other information, according to Rogers, who spoke at an event sponsored by the International Institute for Strategic Studies (IISS).
Based on how collapses work, a collapse in one area probably indicates big problems in unrelated areas as well. If someone is stealing you blind – the collapse, then do you think your physical security might be at risk too?
Europe’s debt-crisis strategy is near collapse. The long-awaited recovery has failed to take wing. Debt ratios across southern Europe are rising at an accelerating pace. Political consent for extreme austerity is breaking down in almost every EMU crisis state. And now the US Federal Reserve has inflicted a full-blown credit shock for good measure.
2– Another bad omen: collapsing silver prices
Unfortunately, it’s not as if, lately, equity markets have been the only place to lose money. Indeed, as every gold bug has rediscovered in recent months, precious metals have again proven that they are anything but a safe-haven. Still, drops of 30% or more in silver prices do not happen that often: looking back at the past 100 years, such drops have only occurred 11 times. And interestingly, each one of these massive declines marked a significant change in the world financial system.
To cut a long story short, the investment rules after large declines in precious metals were almost always totally different from the rules which prevailed before the fall. More worryingly, each such decline was accompanied by a massive recession/depression somewhere in the world and almost every time by a recession in the US (grey shaded areas), the only exception being 1983-1984 when the Latin American depression did not trigger a US recession but instead a collapse in oil prices.
Rout Puts Gold on Pace for Largest Quarterly Loss in Decades [June 26, 2013]
Gold futures prices are on track for their largest quarterly loss since at least 1974, down 23 percent in the past three months. Similarly, silver has plunged 34 percent in the same period—its largest loss in at least 50 years.
The Egyptian army has only one card left to play. Western journalists and other true believers in the promise of the Arab Spring may be shocked by the suggestion that Egypt may be headed to war with Israel in the not-too-distant future. But as the country implodes, war has become the easy way out. It doesn’t matter that the Egyptian army doesn’t want another catastrophic contest with Israel—neither did Anwar Sadat 40 years ago when he saved Egypt by going to war with Israel, which in turn helped him acquire the superpower patronage of the United States.
So, what’s left? A short war today—precipitated by a border incident in Sinai, or a missile gone awry in the Gaza Strip, and concluded before the military runs out of the ammunition that Washington will surely not resupply—will reunify the country and earn Egypt money from an international community eager to broker peace. Taking up arms against Israel will also return Egypt to its former place of prominence in an Arab world that is adrift in a sea of blood. But even more important is the fact that there is no other plausible way out: Sacrificing thousands of her sons on the altar of war is the only way to save Mother Egypt from herself.
The potential uprising in Egypt follows civil wars that have raged in Syria, Sudan, Iraq and Libya. Analysts are concerned that a civil war in Egypt could fuel more civil conflicts in these countries, bringing about considerable chaos throughout the entire region.
“Civil wars in Tunisia, Algeria, Lebanon and Jordan might not be far behind,” said Middle East expert Professor Emeritus Monte Palmer of Florida State University and a former director of the Center for Arab and Middle Eastern Studies at the American University in Beirut.
With great instability continuing to plague the Middle East, let us refer to our sandpile model of societies to see where this is headed. In our sandpile model, over time fingers of instability lace throughout the pile. A small collapse in one area is transmitted around and the effect is amplified. This causes both unstable and stable areas to collapse. Depending on the already established fingers of instability, one can see great areas of stability brought down too. If the fingers of instability are extensive enough, then the entire pile can be brought down by a small collapse.
After a relatively long period of stability in the Middle East, we are now getting a glimpse of substantial instability laced throughout the region. In the middle of this lies an island of stability – Israel. Israel is in pretty serious trouble with everything seeming to fall apart all around it. It doesn’t matter that it is an island of stability. If these instabilities surrounding Israel don’t stop soon, then there is a high probability of Israel getting sucked in. Arab leaders know that the one sure way to refocus everybody’s attention is to attack Israel.
On Sunday, Egypt’s President Mohamed Morsi will complete his first year in office. Instead of being an occasion to celebrate – he is the first elected president – many fear the anniversary will mark the beginning of the collapse of Egypt’s political system.
The opposition has called for mass protests against Morsi and the Muslim Brotherhood to take place on the day. Although dissent and protest is a political right in a democracy, these protests could result in a coup against the democratic process, and could plunge Egypt into a cycle of violence and chaos.
He also spoke of the civil unrest in Turkey — the four weeks of protests that started over a rally against a park development and escalated into violent clashes with police about the government — and said the United States was largely to blame. Turkish Prime Minister Recep Tayyip Erdogan should never have worked so closely with Washington, D.C., and other Western allies, he said.
Goldman contends that Egypt’s unfixable economy will inexorably turn it into a failed state. Notwithstanding the existence of an educated, urbanized, and sophisticated class, Egypt remains an essentially pre-modern society with a 45% literacy rate and a dysfunctional higher education system unable to produce a competent labor pool to meet the demands of a globalized economy.
Over the past decade, Cairo’s annual imports soared from $10 billion to $60 billion, mainly due to rising food prices. (Although over 70 percent of Egyptians are involved in farming, the country imports half of its food consumption). While these economic woes began on Mubarak’s watch, the collapse of tourism and other economic problems under the Muslim Brotherhood regime has accelerated Egypt’s economic decline.
U.S. F-16 combat aircraft and Patriot missile defense batteries sent to Jordan on a military exercise may remain in the country longer amid growing U.S. concerns that the pro-Western country could collapse.
Secretary of State John Kerry said yesterday that neighboring Syria is at risk of “complete and total implosion,” and three U.S. officials said that Jordan’s pro-Western monarchy, already suffering economic and political strains, may buckle under the added pressure of more than 1.3 million Syrian refugees. The three officials asked not to be identified to discuss internal and international deliberations.