January 21, 2016

Feeling Hot Hot Hot

THE WORLD IN A NUTSHELL

JANUARY 21, 2016 / SUBSCRIBE

PNUT GALLERY

Ever fancied walking around Buckingham Palace (like Yul Brenner in Cool Runnings)? Google Expeditions now gives you the chance to do it virtually.

IN A NUTSHELL: MUST READ
Do Yourself A Favor And Don’t Check Your Portfolio Today… … Because chances are it’s not doing so well (unless if you are like us and are already at $0). Global markets got clobbered yesterday with the S&P down 1.2% despite a late rally in the day (it was 3.9% down at some point) and oil dipping below $27 a barrel (from a high of $100 not too long ago). What’s causing this? The most prominent theories are:

China: A slowing Chinese economy (and massive state intervention) risks dragging down the world financial systems and economy. As cash continues flying out of the country investors are worried that the situation there could get worse.
Oil: Related to China, the price of oil continues to slide (China is a big buyer of oil). Down more than 70% in 18 months, the risk of bankruptcies and low earnings in the energy sector is rising, causing those stock prices to fall.
Central Banks: Some investors are worried that markets have become unhinged after years of huge intervention by central banks (think quantitative easing, when central banks act like massive hedge funds). This means that a lot of the old investment models are now caput.

The real culprit? Probably all three. Fear not, you can always buy a HermÃ¨s Birkin bag, which appreciated 500% in the last 35 years.

GOOD READ: Our Summary Of China’s Economic ‘Slowdown’

NUTS AND BOLTS: SHOULD READ

Phew, What A ScorcherScientists declared 2015 the hottest year since records began. They attributed the heat to El Nino (a warm ocean current which screws up global weather patterns) and to that fact that humans are idiots and keep emitting greenhouse gases . None of this will change Senator Jim Inhofe’s mind, a man who believes that a snowball is evidence that global warming is a myth.

CLIMATE READ: 2015 Global Weather Patterns In Detail Iraqi Monastery Destroyed By ISISSatellite images showed Iraq’s oldest monastery (1,400 years old) destroyed by ISIS. The monastery, along with Mosul’s Christian population, has survived multiple empires and the post-US invasion chaos. However, ISIS has been intent on erasing any vestige of a Christian (or Yazidi) presence, subjecting the population to mass killings, forced conversion and enslavement.

GOOD READ: ‘Is This The End Of Christianity In The Middle East’ via New York Times Austria Says ‘Nein’ To More Refugees

Austria became the latest European country to tighten its refugee policy, cutting the number of asylum claims it will accept and tightening border controls. 90,000 people (~1% of the population) applied for asylum last year. Germany called the decision “unhelpful.” Meanwhile Senate Republicans in the US tried, and failed, to block the resettlement of 10,000 Syrian refugees into the US.

GOOD READ: Has Europe Reached The Breaking Point?

#pnut4prez: Bernie Vs. ‘Establishment’Planned Parenthood (PP) got pissed off at Bernie Sanders yesterday when he branded them as “the establishment” for endorsing Hillary Clinton. The group, which has spent most of last year fending off the establishment to maintain funding, called his claim “a little ridiculous.” With fewer debates (some scheduled over long weekends) and a spate of endorsements for Hillary, it isn’t surprising that Bernie doesn’t feel the love from the Democratic Party (although, to be fair, he only joined the party in 2015). Keeping Our Eye On..

We Found A Planet!: Astronomers (and ironically the guy who got Pluto demoted from planetary status) announced that they had found evidence of an icy planet awkwardly hanging out at the edge of the Solar System. It’s been boringly named “Planet Nine.”
Pakistan: 19 people were killed when the Pakistani Taliban hit a university in North Eastern Pakistan. One heroic teacher died while shooting back at the militants to give his students time to flee.
Davos: Pope Francis asked world leaders and industry titans to think about how they might be inadvertently creating poverty and inequality during a speech he gave at the World Economic Forum in Davos (a place where important people go to feel important).

LOOSE NUTS: FOR YOUR ENJOYMENT

Who Is A Keyboard Warrior And What Is A Lumbersexual? Australia is known for its colorful parliamentary language but in the annual Australian word of the year competition the country really excelled itself. Two words “lumbersexual” (a metrosexual person who looks like a lumberjack) and “keyboard warrior” (someone who’s more terrifying online than in real life (we all know one)) almost came out on top. The winning word was “captain’s call” (when you make a decision without consulting anyone) aka Tony Abbott’s style of government. Strewth!