Now for some pure fun.
James Corden heads to Liverpool for a special day with Paul McCartney spent exploring the city of Paul’s youth, visiting his childhood home where he wrote music with John Lennon, performing songs in a local pub and of course driving around singing a few of Paul’s biggest hits.Here is a direct video link.
Justin Trudeau and Canada’s political elite is fighting for the Tar Sands and oil industry’s interests, even if it means Canada misses all of its climate targets. Kevin Taft, ex-Liberal Party politician and author of ‘Oil’s Deep State’. Here is a direct video link.
For some more discussion on why the Trudeau government may have agreed to buy out Kinder Morgan and take over building a pipeline in contradiction of all its previous climate commitments, see Did Canada buy an oil pipeline in fear of being sued by China?:
Trudeau is desperate to keep China happy. In 2016, his government began negotiating a free trade agreement with China. At the time, the Globe and Mail reported, “a senior Chinese official said this will require Canadian concessions on investment restrictions and a commitment to build an energy pipeline to the coast”.
Less than a year later, Trudeau approved the expansion of the Trans Mountain pipeline. Talks for the free trade agreement are ongoing.
Now he has bought that pipeline, and will have to live with the political fallout, which will likely include protesters, court cases and other acts of civil disobedience. In what might be a strategy to avoid lawsuits from Chinese companies that may result in massive secret payouts, Trudeau’s government may find itself arresting Canadians.
Different side of the world, but very familiar themes here: real estate developers borrowed heavily in greenbacks and now face leaping service costs and defaults as the Yuan weakens against the US dollar. Chinese households have doubled their mortgage debt in just the last 4 years (to $3.5 trillion outstanding at Q1 end). Who would’ve thunk this would end badly, right? See It’s all going wrong for China developers as bonds sink:
The Chinese property industry’s bad year keeps getting worse, sending bonds of some developers to record lows and triggering fresh concerns about a major pillar of the world’s second-largest economy.
Tighter financing constraints, a state campaign to rein in real estate prices and a tumbling yuan are battering the sector just as it faces an unprecedented wall of maturing offshore debt…
Developers’ dollar-denominated bonds are also getting more expensive because of a falling yuan. Evergrande and Country Garden are the most exposed by value, with at least 44 percent of their debt issued in the dollar, according to data compiled by Bloomberg. More than 90 percent of Kaisa Group Holdings’ bonds are denominated in the greenback.
Here is a direct video link.
