Originally published at: https://peakprosperity.com/daily-digest/u-s-faces-financial-crisis-china-unveils-meltdown-proof-reactor/
Economy
Economic and political turbulence continues to dominate the landscape in the United States, with critiques pointing to systemic issues dating back to the 2008 financial crisis. Analysts like James Howard Kunstler argue that the financial system’s collapse was precipitated by measures such as the injection of non-existent money into banks and zero interest rate policies. These actions, he asserts, have led to an unsustainable national debt and a financial breakdown characterized by collapsing markets and derivatives. Kunstler suggests that the Democratic Party may face significant political fallout, with key figures like Kamala Harris and Joe Biden potentially losing their positions. He also hints at the possibility of global conflict, adding to the overall instability.
Energy
In a significant technological development, China has successfully demonstrated the first full-scale nuclear reactor that is entirely meltdown-proof. This High-Temperature Gas-Cooled Reactor Pebble-Bed Module (HTR-PM), tested by researchers from Tsinghua University, uses graphite pebbles containing uranium fuel, which allows heat to dissipate naturally if cooling systems fail. The reactor’s ability to cool itself without intervention was confirmed during tests, marking a milestone in nuclear safety. Although the design increases power generation costs by about 20%, these costs are expected to decrease with mass production. This breakthrough could potentially ease concerns about nuclear power’s role in combating climate change, despite the challenges of retrofitting existing plants and the high costs of building new ones.
Geopolitics
On the international front, tensions between the United States and Iran have escalated with the introduction of S.J.Res.106 in the Senate. This resolution, introduced by Senator Graham, seeks to authorize the use of U.S. Armed Forces against Iran due to its nuclear weapons development, which is perceived as a threat to U.S. national security. The resolution outlines a historical context of Iran’s actions since the 1979 Iranian Revolution, including acts of alleged terrorism, uranium enrichment, and ballistic missile tests. The resolution authorizes the President to use force if it is determined that Iran is in the process of acquiring a nuclear weapon or possesses weapons-grade uranium, a nuclear warhead, or a delivery vehicle capable of carrying a nuclear warhead.
Politics
In other news, former Mayor Lori Lightfoot has commented on an attempted assassination of former President Donald Trump, while social media platform Gab has confirmed that the suspect, Matthew Thomas Cooks, had accounts on their site and was a supporter of Joe Biden. This revelation has added another layer of complexity to the already charged political atmosphere.
Sources
Economic Apocalypse Now: Kunstler Predicts Financial Armageddon
The wait is over. Everything that can break is breaking: stock markets, bond markets, the galaxy of derivatives — bets on this and that, which will never be honored.
Source | Submitted by rhollenb
China Unveils World’s First Meltdown-Proof Nuclear Reactor
“A new Chinese reactor design is the first full-scale demonstration that’s entirely meltdown-proof.”
Source | Submitted by Barbara
World’s First HTR-PM Nuclear Plant Proves Inherent Safety in Loss-of-Cooling Tests
The test results show that the reactors can be naturally cooled down
Source | Submitted by Barbara
Martin Armstrong Discusses Global Conflict with Pietro Messina in Latest Interview
They Need WAR
Source | Submitted by rhollenb
Senate Introduces Resolution to Authorize Military Force Against Iran Over Nuclear Threat
To authorize the use of United States Armed Forces against the Islamic Republic of Iran for threatening the national security of the United States through the development of nuclear weapons.
Source | Submitted by nickythec
Former Mayor Lightfoot Comments on Attempted Trump Assassination Linked to Biden Supporter
To the best of Gab’s knowledge, as of 2021, Crooks was a pro-lockdown, pro-immigration, left-wing Joe Biden supporter.
Source | Submitted by joe tenaglia