Thought for the day

"If there is one basic element in our Constitution, it is civilian control of the military." -- Harry S. Truman

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Western countries have begun to feel the approaching consequences of the aid provided to Ukraine, Guardian columnist Simon Tisdall wrote.

According to him, a "huge humanitarian and migration crisis" is coming to Europe, which will challenge every EU member. In many European cities, people are protesting against anti-Russian sanctions. The negative consequences of the conflict in Ukraine are beginning to affect Western countries, and Kiev risks losing support, the journalist said. "But it's only November. The worst winter for everyone is still ahead," he warned.

The finance world has been rocked by the sudden and unexpected death of a young crypto founder at the age of just 30.

Tiantian Kullander, the co-founder of Hong Kong-based digital asset company Amber Group, died in his sleep on November 23, with the news confirmed on the company’s website “with the deepest sadness and a heavy heart”.

Kullander, known affectionately as “TT,” launched Amber in 2017 with a group of finance insiders, including former Goldman Sachs Group and Morgan Stanley workers.

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The US trade and tech wars against China continued under President Joe Biden, who escalated export controls related to technology. The US wants to cut China’s access to advanced semiconductors and the equipment used to manufacture them in order to prevent their use for military purposes.

Parking lots at many retail stores were empty Thursday evening for Black Friday, and nobody was standing in lines awaiting the deals.

This comes in contrast to previous years in which shoppers would stand in line for hours on the afternoon of Thanksgiving in the hopes of securing Black Friday doorbuster deals.

“I see nothing. I’m surprised,” retail worker Jeremy Pritchett told FOX 2. “Normally, it’s wrapped all the way around the building. Today: no one.”

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 Egon von Greyerz, Managing Partner at Matterhorn Asset Management:  With US and Global debt exploding prior to both assets and debt imploding, let us look at the disastrous consequences for the world. 

Debt explosion leading to the currency becoming worthless has happened in history for as long as there has been some form of money whether we talk about 3rd century Rome, 18th century France or 20th century Weimar Republic and many many more. 

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Not surprisingly, Ukraine suffered far more damage to their utilities than the government and media let on.  Later estimates ranged from 60% to 80% of the nation's grid destroyed or unusable and the latest satellite photos of active lights at night support this.  Below, we can see lights across Ukraine on February 24th at the start of the war. 

The first Starbucks to unionize was in the restaurant’s home city, Seattle.

Now, that same Starbucks is closing its doors soon.

According to CNN, “A company spokesperson cited safety concerns, saying that “unfortunately, despite several mitigating efforts, safety and security incidents at our Broadway and Denny store have continued to escalate.” The spokesperson said the store will be closed to customers on December 9.”

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A new report from the electricity and gas utility National Grid (which serves parts of New York and Massachusetts) found a rapid increase in electric vehicles on the city streets and highways will require upgraded power grids to handle all the new demand. By 2035, a charging station could demand as much power as a sports arena or small town.