Join us for Global Crisis Watch 229, on Friday, 26th May 2023
News that is capturing the headlines this week includes:
US Government Debt Fault Crisis
The United States is teetering on the brink of a debt crisis. On January 19th, 2023, the country hit its debt ceiling, sparking a heated political debate within Congress about federal government spending and the national debt. Treasury Secretary Janet Yellen has issued a dire warning: unless Congress raises the debt ceiling by June 1, the government will be unable to meet its obligations. A US default would send shockwaves through the financial market, potentially triggering a recession and causing millions of job losses. The stakes are high and time is running out. Will Congress reach a compromise in time to avert disaster?
Ukraine Incursion Into Russian Territory
In a dramatic turn of events, Ukrainian troops have staged a daring cross-border incursion into Russia. Russia’s military and security forces are now locked in combat with Ukrainian units that have infiltrated the southern Belgorod region. This is the largest incursion into Russian territory since the war began. Ukrainian military intelligence has identified the fighters as two volunteer groups of Russian citizens. The situation is tense and rapidly developing.
Tropical Storms Break All Records
2023 has already seen multiple records broken as tropical storms in the Indian and Pacific Oceans are longer lasting, more intense and more damaging than anything seen before. Whether it is absolute temperatures, sea temperatures, wind speeds or duration, our understanding of what constitutes a ‘normal’ weather pattern is being shattered. These are once again signs that our planetary systems our increasingly out of balance – and with the inbuilt feedback loops created by polar ice melts and increasing sea temperatures, it is likely that they will become even more intense in coming years.
“Deep-Sea Mining For Rare Metals Will Destroy Ecosystems”, Say Scientists
Deep beneath the ocean’s surface lies a treasure trove of rare minerals, coveted by mining companies for their use in alternative energy technologies. But at what cost? A new report by international wildlife charity Fauna & Flora reveals that deep-seabed mining could cause “extensive and irreversible” damage to our planet. Oceanographers, biologists and other researchers warn that sweeping the ocean floor for cobalt, manganese and nickel would cause widespread pollution, decimate global fish stocks and obliterate delicate marine ecosystems. The stakes are high and the consequences dire. Will we (once again!) choose short-term gain over long-term sustainability?
Plus all the stories that are catching our attention wherever we live in the world. Feel free to join us, and add your voice to the conversation.