Bank of International Settlements warns of global economic crash, "with a vengeance"

The Bank of International Settlements -- the "central bank for central bankers" -- has released its latest annual report, warning that the looming debt crises in China, Hong Kong and Thailand could precipitate an abrupt collapse, or, as BIS monetary and economic department head Claudio Borio put it, "That end may come to resemble more closely a financial boom gone wrong, just as the latest recession showed, with a vengeance." Read the rest

Truck-driving is a modern form of indentured slavery

USA Today undertook a year-long investigation into southern California truckers, so-called "independent contractors" who form a critical link from America's busiest port to the rest of the country, and found that drivers are sunk into deep pits of debt due to predatory contracts they signed under duress, debts that are used to force them to work unsafe hours, falsify their work records, and sometimes bring home literal pennies a week after working 80+ hours (some drivers even finish the week in deeper debt, owing money to the companies they "contract" for).

Read the rest

China's billionaires are disappearing into police custody and/or early graves

Dozens of the richest executives in China have disappeared under mysterious circumstances and are assumed to be in police detention as the country pursues an aggressive anti-corruption agenda. Read the rest

A Hong Kong parking space just sold for USD664K

The 188 square foot parking space went for HKD5.18m (USD664,300) -- HKD27,500/sqft. Read the rest

London fire: just last year, Tory landlord-MPs rejected Labour's tenant safety law

The death-toll on London's Grenfell Tower fire continues to mount, it's worth remembering that there are no "natural disasters," only human disasters, created by people who weigh different interests in the balance and create policies based on the way the scales come up. Read the rest

Shareholder revolt at Mylan over Epipen-gouging CEO's $98M bonus

The board of directors at Mylan have rewarded former CEO Robert Coury with a $98m bonus as he steps into the executive chairman's role, having overseen a price-gouging scandal over the Epipens used by people prone to life-threatening allergic reactions. Read the rest

Bad news: tech is making us more unequal. Good news: tech can make us more equal.

My latest Guardian column is Technology is making the world more unequal. Only technology can fix this; in it, I argue that surveillance and control technology allow ruling elites to hold onto power despite the destabilizing effects of their bad decisions -- but that technology also allows people to form dissident groups and protect them from intrusive states. Read the rest

What does Jeremy Corbyn stand for?

The 2017 UK Labour Manifesto has been hugely popular since it was leaked early last month, and young Britons registered to vote in droves after it got out. But what does it actually say? Read the rest

A dystopian reboot of some sponsored Internet of Shit content

Dan Hon (previously) took note of a sponsored tweet in The Atlantic's Twitter feed: "SPONSORED: The future city: What changes when everything is connected? #MSFTCloud #ad" and decided to have a go at answering the question. The results were fantastic. Read the rest

Would-be Montana GOP Congressjerk with ties to sanctioned Russian companies beats up reporter at press-conference

Greg Gianforte is a short-tempered, hyper-conservative Montana political hopeful who is standing for the GOP in a special election for a Congressional seat; he is also invested in Russian firms that are under US sanction. Read the rest

Theresa May wants the UK to die within its means

Theresa May won't use the term "austerity" to describe her government's policies, preferring the misleading phrase, "living within our means" -- a term used to describe cuts to survival basics for millions of Britons, from housing to health to food to social care. Read the rest

Guillotine watch: LAX's new one-percenter luxury terminal -- UPDATED with veiled legal threats!, AND MORE LEGAL THREATS!

Update again: We've had yet another legal threat regarding this. The lawyers for the terminal want us to include the notice below or face litigatation. I think it was all implied by my update yesterday, but I have no objection to adding this text too (they sent it to us as a bitmap, so I can't paste the text, but I'm including a screenshot of the relevant section of the letter). They require that this notice be posted without "more content that is sarcastic and malicious.":

Update: the proprietors of this dubious enterprise want everyone to know that the REDACTED that shows the REDACTED captioned with REDACTED is not on general display. It is REDACTED.

Trieste Pinzini, writing on behalf of ID PR, sent me a note advising me that "This matter has now fallen into legal matter," which is technically a sentence, though I'm not sure what, exactly, it means.

Ms Pinzini wrote to me initially at an email address I don't use for Boing Boing correspondence and don't pay close attention to. Now I've got her second email, which notes, (hilariously) that "The erroneous story you ran produced 100+ disparaging comments, specifically about the non-existent video supposedly shown to customers of The Private Suite."

Yeah. Because the thing that really stood out about this thing was REDACTED.

Pay $7,500/year and $2,700/flight and you can use can use the new "private terminal" at LAX where you are waited on hand-and-foot, including a personal sit-down with the TSA guard who "searches" you before you're put in a BMW and driven across the tarmac to your flight -- best of all, REDACTED. Read the rest

"Golden Geese": the American 1%ers who arrange a second citizenship to escape taxation

David Lesperance is a Canadian-born lawyer who specializes in helping the super-rich secretly buy foreign citizenship so they can escape taxation at home. Read the rest

United's passenger-beatings are a feature of its business, not a bug

In a world where the airlines record-smashing profits comes from a small number of increasingly luxurious first-class seats, the entire focus of the industry is on figuring out how to convince just a few marginal customers to spend more for one of those profit-centers instead of deadheading in coach. Read the rest

Wealth inequality is correlated with CO2 emissions

A new paper from a trio of Boston College researchers shows that the states with the highest degree of income inequality are also the worst offenders for carbon emissions; as the share of wealth and income claimed by the richest 10% increases, the amount of carbon-intensive consumption they engage in grows, as does their political clout, allowing them to buy laws and policies that let them pollute more. Read the rest

Connecticut's undertaxed super-rich hedgies get "tax bills" from anti-cuts protesters

Connecticut, home to the richest hedge-fund managers in America, is going broke, cutting services and gutting pension plans to try and fill its $1.8B budget hole -- a hole it plans on filling by taking away $1.5B from the state's workers. Read the rest

Pope to greedheads: better to be an atheist than the kind of Catholic who screws the poor

During an "improvised sermon" in his residence during morning mass, Pope Francis excoriated Catholics who lead a "hypocritical double life," going to mass and joining religious organizations while living from the exploitation of others -- the Pope said these people should say to themselves, "my life is not Christian, I don't pay my employees proper salaries, I exploit people, I do dirty business, I launder money, (I lead) a double life'." Read the rest

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