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China Warns Of "Price To Pay" In South China Sea

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By Tyler Durden

After all of the posturing that the US and China have been doing in recent months as it relates to the South China Sea, the time is drawing near for The Hague to issue a decision on one of the main sources of the tension, namely a maritime complaint that the Philippines filed against China back in 2013.

As a quick reminder, many countries have claims that overlap each other in the South China Sea, and China in particular has decided that its claim trumps any others. In June, US Defense Secretary Ash Carter went to Singapore and made it known that the US was going to “remain the most powerful military and main underwriter of security in the region for decades to come, and there should be no doubts about that“, adding that China was in danger of “erecting a Great Wall of self-isolation” if it continued its actions. Subsequently China threatened to leave the UN Convention on the Law of the Sea if The Hague didn't side with China in its ruling, saying that type of ruling would be the worst outcome of the dispute.

Against that backdrop, The Hague is set to release its ruling on July 12, and Beijing is preparing fully for the decision, as it announced that it will be conducting military drills between July 5 – July 11 in the disputed waters. “The drills are a very symbolic expression of China's resolve. It is definitely also responding to the recent American warships patrolling in the South China Sea.” Zhu Feng, dean of the Institute of International Affairs at Nanjing University said.

Not only is Beijing conducting military drills, but The People's Daily, a flagship newspaper of China's ruling Communist Party on Wednesday warned Washington that there would be a “price” to pay if it crosses China's “bottom line” by meddling in disputes over the South China Sea. As Military.com reports, the paper said that the US should recognize that there is a bottom line with every issue, and the US would bear all responsibility for any further escalation of the already high tensions between the two countries.

From Military.com

The People's Daily editorial comes as Beijing ramps up efforts to assert its stance ahead of a ruling by an international tribunal in a case filed by the Philippines challenging China's claims to most of the South China Sea. China is boycotting the case before The Hague-based court and says it will not accept the verdict.

The paper said that bilateral ties and regional stability were at stake and that the U.S. should recognize that “there is a bottom line with every issue, and a price will be paid if that line is crossed.”

If the United States, regardless of the cost, chooses the path of 'brinkmanship' that pressures and intimidates others, there will be only one result, that is, that the U.S. bears all the responsibility for possibly further heightening tensions in the South China Sea,” the editorial said.

China …read more

Source: China Warns Of "Price To Pay" In South China Sea

    

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Meanwhile In Greece, Homeless Family Of 5 Lives In Carton Boxes

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By Tyler Durden

Just when you think, you’ve seen and heard everything possible and impossible in Greece with regard austerity and the crisis… there comes this incredible human story: a family of five living in carton boxes in the city of Patras in western Greece.

As KeepTalkingGreece.com details, the family ended up on the streets after a labor accident of the father. The family has no income. For the last 8 months, the two adults and the three children live in a provisional “shelter” made of carton boxes they have places in a corner of an abandoned and half-constructed building.

The parents need to feed two toddlers aged 1.5 and 3.5 years old and an older child from the father’s previous marriage.

The family receives no disability pension or any allowance from the state that can help them make a living.

“They tell their children that living in boxes is a game,” local media TheBest.gr reports.

The father is unable to work. The family’s relatives cannot help them as they are also in dire economic situation.

They get meals from the local church, a neighbor to the building gives them from time to time the opportunity to take a bath.

Basic sanitary conditions are non-existent, the smell where these people live is beyond any description.

The father has been unemployed for the last 3.5 years. His leg was badly cut during works with a chainsaw.

Speaking to thebest.gr, the father said, he wished to have space in a plot to put a tent for his family and two hens in order to have something to feed his children.

And a job. “Anything that will help me be back on track.”

…read more

Source: Meanwhile In Greece, Homeless Family Of 5 Lives In Carton Boxes

    

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“Italian Government Collapse More Than Just A Possibility”

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By Tyler Durden

Submitted by Mish Shedlock of MishTalk

Four new polls show comedian Beppe Grillo’s Five Star Movement (M5S) ahead of prime minister Matteo Renzi’s Democratic Party (PD) were an election held today.

The next election will be no later than May 23, 2018. Renzi promised to step down if he fails a constitutional reform referendum later this year.

The reform referendum will likely be held no later than this October.

Beppe Grillo – Comedian Founder of Five Star Movement

Renzi Rocked Yet Again

Please consider Renzi Rocked as Five Star Surges in Polls.

The populist Five Star Movement has emerged as Italy’s leading political party, overtaking Matteo Renzi’s ruling Democratic party (PD) in four separate opinion polls that have exposed the growing vulnerability of the country’s centre-left prime minister.

The primacy of the Five Star Movement, which is led by the sardonic comedian Beppe Grillo and has called for a referendum on ditching the euro, reflects a shift in public opinion against Mr Renzi that will heighten fears of a return to political instability and uncertainty in the single currency’s third largest economy.

“A government collapse is more than just a possibility, it is a scenario that we are looking at very closely,” said Federico Santi, an analyst at the Eurasia Group consultancy. “The trend has been clearly bad for the ruling party and favourable to the Five Star Movement, driven by issues — like migration, the banking troubles and corruption scandals — that are not going to go away. It’s hard to see what it could take for Renzi and the PD to make a comeback at this point.”

According to polls released on Wednesday by Ipsos, the Five Star Movement is supported by 30.6 per cent of Italians, compared with 29.8 per cent for the PD. Similar polls in January had Mr Renzi’s party leading the Five Star Movement by nearly six percentage points. In the 2014 European elections, shortly after Mr Renzi took office, the PD defeated the Five Star Movement by nearly 20 percentage points.

Three other surveys taken after the Brexit vote also showed the Five Star Movement ahead, with the next national elections due in early 2018.

One by Demos released on July 1 showed the party ahead by a margin of 32.3 per cent to 30.2 per cent over Mr Renzi’s PD. Others by Euromedia and EMG showed the Five Star Movement with narrower leads of 0.5 and 0.4 percentage points. Another poll showed the Democratic party hanging on to a narrow lead.

The polls look even darker for Mr Renzi if the likelihood of a run-off between the two largest parties — which is called for under Italy’s new electoral law if no party exceeds 40 per cent — is taken into account. In those scenarios, the Five Star Movement would defeat the PD by as much as ten percentage points, as right-wing voters would coalesce around the protest party.

Beneath the surface, there is increasing talk of what might happen should his efforts …read more

Source: “Italian Government Collapse More Than Just A Possibility”

    

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SeRVeRGaTE FoR FRiNGe LoWBRoWS…

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By williambanzai7

PATRIOT 2.0

He released TOP SECRET INFORMATION to expose how the gubmint is illegally spying on all of us…

.

She released TOP SECRET INFORMATION because she is an extremely careless and lazy assed pig…

.
LEAVING ON A JET PLANE

He did it to her in a private jet.

She does not understnad the meaning of : “A lawyer shall avoid the mere appearance of impropriety.”

.
James B. Comey

He is a clown.

.
BANANA REPUBLIK

He ate the HillBilly Investigation.

.
YOUNG DONALD TRUMP

He is going to have a field day in the debates.

…read more

Source: SeRVeRGaTE FoR FRiNGe LoWBRoWS…

    

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US Marines To Accept Chubbier Women

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By Tyler Durden

In an effort to maintain the new status quo of cutting standards everywhere in the name of equality and “progress”, the Marine Corps announced major changes over the Fourth of July holiday weekend regarding how much it will allow service members to weigh, and the biggest shift comes for women: going forward “larger” ladies will be allowed to defend the country while also standards used within the physical fitness test will also be relaxed.

In a document released by USMC Fitness division, the new height and weight standard took effect on July 1, 2016 and is relaxing regulations to increase the pool of potential parties. Think of it as a covenant lite loan in a way… only “heavy.” Why would the US do this? One could be excused for understandably saying that the US is becoming more progressive and is accommodating those who have the heart to serve but not necessary the physical capability.

We see a different reason for the US to be relaxing admission tests, which is this chart highlighting weak capacity from the Heritage US Military Strength Index:

What's changing? According to the Washington Post, the Marine Corps will now allow chubbier women to, so to say, slip through the cracks.

“Female Marines will be allowed to weigh five to seven pounds more than before for each inch of their height, according to new guidelines published by the service. A 5-foot-6 woman, for example, was previously allowed to weigh up to 155 pounds, but can now be 161. A 5-foot-9 woman was allowed to be up to 169 pounds, but can now be 176.”

The Corps is also relaxing the rules on pull-ups. The new rule will eliminate fixed-arm hanging as an alternative choice to pull-ups for women. In place of fixed-arm hanging women, and men, will have the option to choose push-ups instead. The incentive remains skewed toward the more demanding pull-up, as Military.com explains:

“'Push-ups become an option on the PFT, but Marines are incentivized toward pull-ups, as these are a better test of functional, dynamic upper body strength and correlate stronger to physically demanding tasks,' Marine Corps Commandant Gen. Robert Neller said in an administrative message to the Corps released Friday. 'Push-ups are also a valid exercise and good test; however maximum points can only be earned by executing pull-ups.'”

Explaining the new physical fitness test requirements, Military.com went on to say:

“The hybrid pull-up option is the Marines' solution to a four-year conundrum of how to promote pull-ups for all Marines without making it impossible for women to succeed.”

As we march further into a state of “gender equality” there is nothing wrong with admitting rules need to be eased but when it comes to defending a nation, is the best answer really to just relax the standards? When we observe banking institutions do that with their prequalification requirements, the results are virtually always disastrous and in the last prominent case, led to a bailout of the entire financial system.

Who will …read more

Source: US Marines To Accept Chubbier Women

    

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"They Mutilated, Cut Up Corpses" – Former Member Shares Experience With ISIS

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By Tyler Durden

Nobody is under any illusions that ISIS is a nice bunch of people, after all we recently reported that ISIS froze its own members to death for trying to defect, and even killed its own members to sell organs in order to raise cash – those acts are just small examples of the violence the group undertakes.

However, we learn firsthand just how horrifically brutal the terror organization can be, courtesy of RT.

RT sat down to an interview with a man calling himself Zurab, who once protected one of the Islamic State's most wanted leaders but later escaped the organization.

Zurab was convinced to join the group after watching propaganda videos.

“We watched promo videos of women, children and elderly people crying out, 'where are you, Muslims? Why are you hiding? When Muslim blood is being spilled, you decide you want to be a pacifist?' I had feelings of guilt, compassion and responsibility. We went there not because we knew the facts but because of our emotions.”

The path to ISIS led through Turkey…

We bought a ticket to Istanbul, where we were met by a man from Dagestan. He put us on a bus to the Syrian border, at night we crossed over.”

“They met us and took us to a 'Sharia house' where we waited to be transported to the training camp. It was in the village of Atme.”

After just a month, Zurab was fully immersed in just how brutal ISIS is.

“After a month, we understood the reality of what was happening. It was worse than the tyranny of the government forces.”

They were extremely brutal, killing women and the elderly who did not obey them. They abused and mutilated their dead bodies. They cut up the corpses, tied them to the back of the cars and dragged them along.

Christians were targeted particularly for additional cruelty.

They would not even talk to Christians, Christians would be killed on the spot. They would find them and publicly execute them, I witnessed many executions.

After all of that, Zurab had enough and began to plan how to escape the group.

We decided to win their trust, that was the only way to escape. We became bodyguards.”

I was a bodyguard for Abu Omar al-Shishani

I escaped by saying I had to see my mother. I lied to her the whole time, saying I was in Turkey, and so I said I wanted to put her mind at ease.

“I took some money from them, I said I could bring stuff back with me. Omar gave me money, too, and asked me to get him some things.

When Zurab returned home he turned himself in to authorities, was tried, and found guilty of being part of an illegal armed group. According to RT, Zurab claimed that he didn't kill civilians, and it was upheld in court. Ultimately, Zurab was given a five year suspended sentence.

Full Interview below:

Uber And European Robots Are Coming For Your Jobs

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By Tyler Durden

That minimum wage you thought was below your value line may start to look pretty good as Americans slowly learn their real value as a plug-and-play employee is approaching $0. On a long enough time line, someone ends up building a robot. As we’ve reported extensively here at Zero Hedge (Walmart, Google, FoxxConn, KFC, Starbucks), robotics have been the clear go-to decision when one wishes to abolish those pesky employees always looking for timeoff and the proverbial “fair treatment”. But now we bring you the newest member of the robotics club, none other than your every other weekend series X-whatever funding round superstar Uber!

Uber now has a robotic security guard patrolling the lot used to park cars awaiting inspection in the Mission Bay area of San Francisco. Knightscope designed and manufactured the device, which is known as K5.

As Fusion reports, the robot can see 360 degrees, possesses a thermal sensor within its camera, and able to decipher the character of the surrounding environment (weather, distance, sounds, facial recognition). Lest your imagination run wild about how this robot would defend any private or public property, rest assured Uber’s robotic security guard is a glorified mall cop.

Meaning the robot will merely set off an alarm and record everything it can if there is some form of a threat or breach.

As Fusion explained, the robot is keen on what is happening around it:

“The bot was spotted by a friend of Fusion, Alan Sanchez, who stopped to take a photo of the bot and found that when he did, the robot stopped moving around to focus its stare on him”

And the encounters are, at least in this instance, humorous.

“The robots were patrolling at 2 a.m. Some clown came onto the property and was engaging our machine in a way that suggested he was going to attempt damage,” said Stephens. “He was kicking and punching at the machine. It set off all the alarms and sent an alert to the security guard’s mobile device. When that happened, this guy turned white and took off like a little girl. We turned the evidence over to police, who said it made him a suspect in some vehicle break-ins that occurred around the same time in the direction he ran.”

First they came for the parking lots. Now the robots are coming for European delivery jobs. According to Bloomberg, food delivery service Just Eat Plc will be using robots to deliver food. Just Eat will enter an exclusive group using robotic delivery alongside Hermes logistics, Metro AG, and Pronto Technologies.

Beyond Just Eat there is a firm named Starship which will be bringing robotic food delivery into the realm of possibility. Per Bloomberg:

“The little robots, which are designed to operate on sidewalks rather than roads, make deliveries within a two-to three-mile radius. They can carry loads weighing as much as 20 pounds, at speeds of up to four miles per hour. Starship will operate the …read more

Source: Uber And European Robots Are Coming For Your Jobs

    

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"Crazy" – The Complete Story Of Debt, In A 40 Minute Video

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By Tyler Durden

Real Vision TV’s Grant Williams offers a true look into what is known as an absurd debt level and unimaginable central bank manipulation. Less than a week ago we highlighted Grant’s comments on commodities. Although the information contained in the video below is nothing new to Zero Hedge, we do enjoy the way the information is presented. Set aside some time to listen as Grant tells a story about debt and the current investment landscape.

Grant sees people “with more power than you can possibly imagine” as the ones responsible for experimental economics that led the world down a path of self destruction.

I don’t think there is any argument about whether or not the central bankers of the world should have done something in 2008. The question is ‘should they still be doing it 8 years later‘?”

We recommend viewing the entire clip

********

…read more

Source: "Crazy" – The Complete Story Of Debt, In A 40 Minute Video

    

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"Whatever It Takes" Remains The New Normal

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By Tyler Durden

The gating of billions of dollars in commercial real estate funds by six U.K. institutional money managers has quite properly roiled markets. But, as Bloomberg's Richard Breslow notes, it's not because of the absolute size of the funds or because it will take some time for investors to get their cash out; rather, because it has exposed the manifold flaws continuing to drive investment psychology and practice.

Flaws reminiscent of some of the most obtuse assumptions that led to the financial crisis and have been the cornerstone of extraordinary monetary policies since then.

These funds exist because of the desperate search for any sort of yield. Can’t make any money from sovereign bonds? Just substitute into your portfolio a slice of a retail warehouse in Northampton.

A naive sense of liquidity in long-term investments with no ready market was built on the belief that prices could only go up. That you’d always be selling on the offer. After all, these funds are backed by household names, no need to read the fine print in the redemptions section.

It’s said identifying bubbles before they burst is nearly impossible. People know what a bubble is. They’ve just come to depend on central banks providing a put if any nasty surprises happen. Or warn them personally to get out before everyone else if the band is going to take a break.

The reason it’s so hard to ring-fence this sort of episode is that when investors can’t get liquidity where they thought, they have no choice but to find a piggy bank somewhere else. A property fund slows payments, ergo some currency fund ends up having to scale back its positions, even if they’re on a great run.

When I watch BOE Governor Carney, I see a man who knows he has to nip this in the bud. In doing so, he needs to encourage more of the same investment behavior that created these risks. Round and round we go.

“Whatever it takes” remains the new normal.

…read more

Source: "Whatever It Takes" Remains The New Normal

    

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Our Future Is (Literally) Crumbling Before Our Eyes

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By Tyler Durden

Submitted by Chris Martenson via PeakProsperity.com,

The sorts of predicaments the world faces — ranging from over $200 trillion in debt, to our unsustainable addiction to fossil fuels, to our over-stressed ecosystems all require that we get deadly serious about confronting them ASAP, and make difficult decisions and trade-offs.

However, our global leaders always seem to opt to kick the can down the road if at all possible. Short-term thinking and near-term priorities dependably get precedence over doing the right thing for the future. Tomorrow’s generations are thrown under the bus by selfishly motivated actors today.

As I’ve put forth over and over again: we’re simply not going to make it unless we get much more serious about our efforts than we have been to date. Yes, it’s a wonderful thing that Elon Musk is building sexy electric cars; but even a single minute spent with a pencil, paper and the aggregate energy statistics on transportation will reveal that there’s an enormous gap between where we currently are and where we need to be.

Most will never spend that minute; which is why I continue to do what I do.

For example, many people wave their arms lazily at the statistics for wind-generated electricity and never bother to ask if its current growth rates can be sustained. Or wonder just how tremendously massive the scale of the effort will need to be to meet any realistic sustainability goals.

In a prior companion piece to this article, I quoted a study which determined that to simply meet the wind power goal put forth in the recent Paris accord, the world would have to massively upshift from installing 37 wind towers per day currently to more than 1,300 per day by 2028.

Can we do that? Maybe. But not without a maniacal commitment to making it happen. And that’s the thing: the world is instead hoping that somehow ‘the market’ will deliver sufficient wind power in time. Given the state of the global financial system — with its more than $200 trillion(!) in debt — is that really something we want to leave to hope?

But leaving the economic and political issues of that challenge aside, I’d like us to focus on the more practical issues of the energy investment required to build out a new energy infrastructure, not to mention the longevity and durability of the components we'd be installing.

I’ve always found this time-lapse video of a single wind tower installation mesmerizing. The skill on display is amazing:

Here’s a brief summary for those of you too busy to watch this construction process right now: Diesel, diesel, diesel, reinforced concrete, diesel, petroleum, diesel. That is, installing a wind tower like this requires a huge amount of fossil fuels to accomplish.

To focus in further, watch from the 45-second mark to one minute. What you’ll see there is 96,000 pounds of reinforcing steel, and 53 cement trucks used to pour the windmill's base.

Which brings us to an overlooked and very important part of the story: …read more

Source: Our Future Is (Literally) Crumbling Before Our Eyes

    

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