Links 11/3/2026 | naked capitalism

By News on SantoshHub Nov 3, 2026 0

Dear patient readers,

Haig’s usual Coffee Break Armed Madhouse will appear Wed. In lieu of a Water Cooler today, Nat will do a live blog this evening. Have plenty of popcorn and your favorite libations ready!

If you are in the US and have not voted yet, be sure to do so! And if you are a poll-worker, please tell us in Nat’s live blog what you saw.

Forgive me also for the lack of a full-bore original post. I’m not alone in finding that the news overnight, even with the Iran war seemingly nearing a state change, did not contain much in the way of grist for new commentary (see Richard Murphy in What did happen yesterday?). So rather than beat almost-dead horses, you get an extra heaping of Links.

* * *

Near-Death Experiences Seem to Follow Strange Rules of Shape And Color, Study Reveals ScienceAlert (Chuck L)

Spotting narcissism: A psychologist’s guide to identifying and healing from narcissism Big Think. I listened to the section starting at 31:41, The 5 types of narcissism. Better than I expected.

COVID-19/Pandemics

Ebola Fatality Rate Tops 50% After Hundreds of Deaths Added to Congo Toll Bloomberg

New York state reports first measles-linked child death in over 30 years amid outbreak Reuters

🇺🇸US Weekly COVID update: Nov 2, 2026

🔸1 in 43 Actively Infectious
🔸1,136,000 Daily Infections
🔸7,780,000 Infections In The Past Week
🔸172,000,000 Infections in 2026
🔸389,000 to 1,560,000 Weekly Long COVID Cases
🔸1,900 to 3,300 Weekly Excess Deaths

https://t.co/iytM9Py8Lz https://t.co/KlmxUJHV2K

— Denis – The COVID info guy – (@BigBadDenis) November 2, 2026

People with long Covid affecting multiple body systems are far less likely to recover, with fewer than one in five showing sustained improvement within three years, a US study found https://t.co/bpGnAKL5o4

— Bloomberg (@business) November 3, 2026

Climate/Environment

Scientists confirm global warming is accelerating faster than ever recorded Science Daily

Decarbonisation: The Fantasy upon which Net Zero is built. Craig Tindale

Indonesia’s toxic haze is giving its neighbours a political headache BBC

Water

Water Rights: The Hidden Asset the Market Still Values at Zero Groundbreaker (Dr. Kevin). In the context of AI (and fracking earlier) yet, but I know of a water rights and related water developments deals in the Southwest that were valued in the billions, and that was in the 1990s.

‘You can see the water going down’: residents on edge as one of England’s worst-hit reservoirs dries up Guardian

Mexico’s Escalating Drinking Water Crisis Is a Warning to the US Newsweek

Arizona’s lifeline to the Colorado River is drying up. Its designers warned us decades ago NPR

Western states eye Missouri River water Cedar Rapids Gazette (Robin K)

China?

China’s manufacturing activity returned to contraction in October as domestic and overseas demand weakened Caixin

Major automakers urge US Congress to pass permanent ban on Chinese vehicles Reuters

The US-China trade war seems to have subsided – but the sense of calm is misleading Guardian

Taiwan says China harassing shipping with east coast patrol Japan Times

Souls on Autopilot: The Drone Show Redefining Chinese Mourning

Ascension 2.0: When Grief Meets the Low-Altitude Economy

The Sky’s the Limit: How China’s Drone Funeral Trend Is Redefining the Afterlife

In a darkened village square, mourners in coarse white burlap tilt their heads skyward. A luminous white crane, wings outstretched, hovers above the crowd. From its speakers, the voice of the deceased—synthesized by AI from old recordings—delivers a final farewell. Then, a glowing Guanyin descends on a lotus, intoning the Great Compassion Mantra as the crane drifts westward into the night.

This is not a scene from a speculative fiction film. It is the latest frontier in China’s low-altitude economy: drone-assisted funerals that promise to literalize the ancient idiom jia he xi qu—riding a crane to the west .

The service, which has circulated widely on Chinese social media in recent weeks, represents an unexpected collision between two forces shaping contemporary China: the relentless commercialization of drone technology and the enduring demand for meaningful ritual in an increasingly secular society.

A Spectacle of Filial Piety

The mechanics are straightforward. Operators modify heavy-lift drones to carry crane-shaped shells or illuminated deity figures—Guanyin, Buddha, even the God of Wealth, depending on the family’s budget and beliefs. At night, the effect is undeniably theatrical: the glowing figures descend from the darkness, audio systems broadcast sutras or the deceased’s own voice, and the whole performance is choreographed to evoke the soul’s ascension .

Pricing starts at roughly 5,000 yuan for a single-drone performance, rising to about 10,000 yuan for a dual-drone sequence featuring both the crane and a deity . For families in rural areas where traditional funeral expenses—paper offerings, bands, banquet tables—can easily spiral into the tens of thousands, the drone show offers something novel: a fixed-price spectacle that generates the kind of visual wonder that neighbors will talk about for years.

“It materializes ‘riding the crane to the west’ into something you can actually see,” one online commentator noted, defending the innovation. “Isn’t that more meaningful than burning paper that disappears in smoke?”

The Divided Reception

Not everyone is convinced. The same videos that sparked admiration for entrepreneurial ingenuity also drew sharp criticism. “A funeral is supposed to be solemn and sad,” one detractor wrote. “Suddenly there’s a flying crane and a glowing goddess—it looks like a comedy sketch. How is this respectful?”

The mockery has been equally inventive. “Grandpa would sit up in his coffin and shoot the drone down,” one viral comment joked, capturing the discomfort many feel at the collision of sacred ritual and consumer spectacle .

The criticism cuts deeper than aesthetic preference. China’s funeral industry has been under sustained regulatory pressure to promote “civilized frugality” and curb extravagant spending. A 10,000-yuan drone show, however visually striking, sits uneasily with a policy environment that has repeatedly emphasized the public-welfare nature of burial services . There is also the unglamorous matter of safety: flying illuminated drones at night over crowds gathered in narrow village lanes, with power lines and trees nearby, is a liability nightmare that no amount of spiritual symbolism can wish away .

The Business of Belief

Yet the demand is real, and it speaks to something deeper than novelty-seeking. China’s funeral services market was valued at approximately 410 billion yuan in 2025, with an aging population driving steady growth . But the industry is also undergoing a quiet transformation. Younger generations, increasingly detached from elaborate traditional rituals but still seeking emotional closure, are driving demand for personalized, experience-driven farewells. Digital memorial halls, AI-generated “digital humans” for eulogies, and service robots for ash transport are already entering the mainstream .

The drone funeral is an extension of this logic: if you can customize a memorial video, why not customize the ascent of the soul itself?

For the drone operators, the calculus is simple. The low-altitude economy has been designated a pillar industry in China’s 15th Five-Year Plan, with cargo delivery, medical rescue, and agricultural surveying already commercialized . Funeral services represent a high-margin niche in a sector where emotional stakes justify premium pricing. The same technology that delivers takeout to a cargo ship on the Yangtze can, with a costume change, deliver a soul to paradise.

What the Ancestors Would Say

Whether this fusion endures depends on a question that no regulator or entrepreneur can fully answer: can technology designed for utility and surveillance be successfully sanctified?

Chinese mourning traditions have always been adaptable. Paper money replaced real currency; cremation replaced burial under state mandate; streaming funeral services became commonplace during the pandemic. Each transition provoked anxiety, and each was eventually absorbed into the fabric of customary practice. The drone crane may follow the same path—or it may remain a viral curiosity, remembered as the moment China’s low-altitude economy briefly flirted with the afterlife and decided the living were a safer market.

For now, the operators are betting that grief, like everything else in contemporary China, is ready for an upgrade. The crane will fly. The Guanyin will glow. And somewhere, a family will look up and wonder whether the soul above them is really on its way west—or just circling the village square, waiting for the battery to run out.

https://t.co/c8M62Xx9MU

— Ignis Rex (@Ignis_Rex) November 2, 2026

Japan

As Chinese tourists stay away, airlines cut back 700,000 seats on Japan routes VNExpress

South Asia

Five people were killed in two separate incidents in India’s northeastern state of Manipur, police said on Sunday, as fresh ethnic violence erupted in the conflict-hit region Reuters

Old Steel Rebars Are Transformed into Barrels in Pakistan’s Tribal Regions YouTube (resilc)

Bangladesh workers clash with police in protests over low pay Aljazeera

The Lucky Country

Sharper, longer slowdown’ predicted for economy as fifth interest rate hike looms Guardian

Africa

Climate-vulnerable Africa faces significant gaps in early warning systems, leaving millions at risk from extreme weather PhysOrg

Sudan’s power grid nears collapse as drone strikes blamed on RSF target electric stations Los Angeles Times

Algeria is sending troops to Niger for the first time in decades – what’s at stake The Conversation

The Sahel, a new front in the rivalry between Algeria and Morocco Middle East Eye

South of the Border

The Turkish Soap Opera of Venezuela Business Dealings Venezuelanalysis (Robin K)

Venezuelan army strike on Colombian rebel camp leaves 19 dead TRT World

Colombia at Risk of Default Without a Fix, Restrepo Tells Semana Bloomberg

European Disunion

The Crisis In Poland Craig Murray

COUP D’ETAT IN POLAND?! ARE THEY PREPARING FOR THE PACIFICATION?! WHAT YOU DON’T KNOW… Ania K, YouTube. Good one-stop shopping on the background as well as key footage from the Constitutional Court row.

What I find amazing about this pro Tusk counter propaganda is that it unironically channels exactly the same talking points the communists used to justify martial law in 1981. As a former solidarity man he must be aware of this. It’s utterly bizarre. https://t.co/jX6AemGC3j

— Izabella Kaminska (@izakaminska) November 2, 2026

Watch the German Ministry of the Interior spokesperson’s expression as she is questioned about footage of German police convoys operating in Poland.

Her discomfort is painfully obvious.
She clearly doesn’t like to answer the question.

What is she hiding?
Is she lying to the public?
🤔

— Richard (@ricwe123) November 2, 2026

The Polish General Staff Seemed To Imply That Anti-Coup Protests Are Organized By Russia Andrew Korybko

JUST IN: 🇩🇪🇮🇱 Germany’s President Frank-Walter Steinmeier with a kippah on his head:

“Whoever chants “Death to the Jews” on the streets or demands the annihilation of the Jewish state must find no understanding or applause in any political party.

Wherever coalitions are negotiated and governments are formed, this must be a condition.

Antisemitism must not be allowed to influence government policy anywhere in Germany.”

— Megatron (@Megatron_ron) November 2, 2026

What happened to the books from the GDR? Nachdenkseiten via machine translation

Old Blighty

UK: Labour to stop cooperating with Greens in 11 councils over ‘Zionism is racism’ vote Middle East Eye

Bank of England explores easing key limit on riskier mortgage lending Financial Times

Landline phones will switch off across Britland in 100 days, no extensions – Openreach The Register (Chuck L)

Israel v. The Neighborhood

How Trump Is Helping Netanyahu Steal Israel’s Election Haaretz

Israel Condemns Turkey-Libya Maritime Deal and Backs Greek Sovereignty Greek Reporter

Iran War

From NO1’s daily e-mail:

US jets hit Iran’s Qeshm Island about an hour after Trump said “no” to strikes after the midterms, and Iranian state media is now airing advice on how to survive a nuclear blast. Russia’s long-signalled missile wave hit six Ukrainian power plants overnight, while Oracle broke its own five-day-old cap on capital raising and the Nasdaq 100 slid into correction. Oil fell about 7% on a Doha “breakthrough” that Tehran then denied, and Americans vote today.

Iran and the United States remain far from reaching an agreement to end the war, a senior Iranian official told Reuters on Tuesday, saying Tehran would not accept Washington’s “excessive demands.”

— Iran International English (@IranIntl_En) November 3, 2026

Iran delivers ‘firm, rational’ response to US, says ‘ball in America’s court to prevent war’ Anadolu Agency

Yet again, the U.S. has attacked Iran’s sovereign territory in the middle of negotiations.

There’s nothing ‘defensive’ about these attacks. The entire war is an aggression launched in flagrant violation of the UN Charter.

These attacks will not stop until the U.S. economy lies in smoking ruins. Any negotiations conducted until then simply prolong the war.

— Dimitri Lascaris (@dimitrilascaris) November 3, 2026

Middle East oil markets are indicating near-term supply is outpacing demand for the first time since July — when global prices plummeted after a temporary ceasefire between the US and Iran allowed tankers to exit the Persian Gulf through the Strait of Hormuz.

The nearest timespread for the regional Dubai benchmark, which helps set pricing for nearly all the crude exported from the region, was in a bearish contango structure at the start of the week. The November contract was last at a discount of about $2 a barrel to December, according to traders and brokers #oott https://t.co/gUExtpb9A5

— Giovanni Staunovo🛢 (@staunovo) November 3, 2026

These reports of limited US attacks look mysteriously similar to preparation fires to try and take out Iranian radars ahead of a larger strike that would follow.

This has a bad feel, like we’re in the final stages before we launch a spectacularly foolish strike against Iran, which will spawn a devastating reaction.

We may never recover financially or militarily from the chaos we unleash if we renew large scale fighting…

— Daniel Davis Deep Dive (@DanielLDavis1) November 3, 2026

New Not-So-Cold War

Germany’s Attempted Takeover Of Poland By Proxy Is To Prepare Europe For War With Russia Andrew Korybko

European force to hold first Ukraine support exercise in Poland France24

‼️🇺🇦⚡️ Ukraine forced to reduce nuclear power plant output due to damage to the energy system

▪️Following Russian strikes on substations belonging to Ukrenergo and DTEK, Ukraine’s nuclear power plants have been forced to limit electricity generation, local media report.
▪️Due to damage to grid infrastructure, the energy system is unable to transmit the full volume of generated electricity to consumers.
▪️At the same time, it is noted that state-owned energy facilities still lack adequate protection.

— Military Summary (@MilitarySummary) November 2, 2026

🇺🇦 Picture the scene on the outskirts of Kiev tonight, where the commander of Ukraine’s National Guard, Oleksandr Pivnenko, stood outside a private house in Petropavlivska Borshchahivka facing a furious crowd of his own citizens and admitted that the men being dragged out of its basement were servicemen “caught after going AWOL and returned to their units”, only hours after the police had sworn that reports of people being illegally held and tortured there “do not correspond to reality”.

When a medic was finally allowed through the door, he counted roughly 25 to 30 men crammed underground and came back out saying the people down there “don’t know who they are or what status they’re in”, and four of them were carried to the ambulance crew, one in serious condition (but of course asking whether they were tortured is Russian disinfo right?), according to TSN and BBC Ukrainian. So in the space of a single evening the official story travelled from “nothing to see here” to “they were deserters anyway”, which is how the Empire of Lies has always worked: deny first, then reclassify, and pray the cameras leave before the questions arrive. The amount of double standards and contempt the Western Mockingbird media has for Ukranians is sickening. At least pretend to do your damn jobs!

Nobody has proven torture YET but the visuals are damning and the Kiev cartel has less than zero credibility. What is no longer in dispute is damning enough on its own: a private house, a hidden basement, men rounded up for walking away from a war they never voted for, and a puppet state perhaps on orders from Western Europe whose first reflex was to pretend none of them existed.

The timing is almost theatrical, because this very weekend the Council of Europe solemnly marked Russia’s exit from the anti-torture convention on 1 November and, in the same breath, praised Kiev for letting inspectors visit “any place of deprivation of liberty within its territory at any moment”, so the inspectors now have an address waiting for them on the edge of the capital, should anyone in Western Europe care to book the appointment.

If this basement had been found in Belgorod it would already be on every front page from Lisbon to Helsinki, with a von der Liar statement before dinner and a fresh sanctions package by Wednesday, yet just outside Kiev’s ring road it becomes a “controversy”, the people asking questions become “local residents”, and everyone is gently reminded to “use only official sources”. Nor does asking any of this make anyone a Kremlin bot, since these are Ukrainian men, filmed by Ukrainian citizens, in a Ukrainian suburb, demanding of a Ukrainian general “who gave you the right?”

This is what fighting to the last Ukrainian looks like once the volunteers have run out and the kidnappers masquerading as recruiters have run out of patience, not on a front line drawn on a NATO briefing map but in a basement on the edge of Kiev, while the same Brussels priesthood that lectures the world about “European values” averts its eyes and signs the next cheque.

So will the inspectors be knocking on that door this week, or do the European “values” stop at the border of whichever regime Brussels happens to be funding?

— THE ISLANDER (@IslanderWORLD) November 2, 2026

U.S. Pushes to Restore Russian Gas Sales to Europe Via Ukraine Wall Street Journal

Russia’s External Energy Strategy amid the Ukraine Crisis: Adjustments and Constraints by GU Wei ChinAffairs+

The Oleshky Myth Scott Ritter

Syraqistan

Pakistan warns Afghanistan of ‘unbearable punishment’ as clashes persist along border Asia News

A source in Syria’s intelligence revealed to SANA on Sunday that a terrorist plot targeting the Homs refinery in central Syria has been thwarted Asahrq-Al-Awsat

Big Brother is Watching You Watch

Innocent People Are Being Accused of Shoplifting by Faulty AI-Facial Recognition Systems at an Alarming Rate Futurism

Europe hit by another wave of grocery store freezer hacks Business Insider

Study Claims Vizio Simply Ignores ‘Smart’ TV Spying Opt Out Requests TechDirt

Imperial Collapse Watch

The Backlash to Corruption Is Going Global Atlantic (resilc)

Trump 2.0

US judge tosses case against ex-FBI officials accused of lying about Hunter Biden probes Reuters

Trump, migrants, and Latin American cartels: What role does regional instability play in the US midterm elections? Sonar21

Trump quietly plotting his own escape to friendly dictatorships: legal expert Raw Story. resilc: “OD on MSNBC Rachel Maddow.”

Ex-West Point Cadet Sued For Forcing Abortion On Girlfriend at Academy New York Times. resilc: “CIA will recruit him.”

Midterms

Early vote data shows Latinos, young people, Democrats surging in turnout G. Elliott Morris

Federal criminal charges for noncitizen voting Barry Ritholtz (resilc)

Is Darline Graham the canary in coal mine for midterm war backlash? Responsible Statecraft (resilc)

A Defeat for the ‘Blob’ Daniel Larison

Conservative pollster Rich Baris called this an AIPAC domestic abuse incident:

here’s the entirety of the seeming mental breakdown Haley Stevens just had on CNN. One of the most bizarre and incoherent political interviews I can recall. Note how she’s completely unable to explain why she changed her mind from supporting Abdul El-Sayed last night to endorsing Mike Rogers today.

— Aaron Rupar (@atrupar) November 2, 2026

Dingell says Stevens defending Rogers endorsement was ‘painful’ The Hill

Elections and the Base Rate Fallacy Steve Vladeck

Our No Longer Free Press

THE IRON LAW OF PROPAGANDA BENDS PODCASTS, PAINS PODCASTERS John Helmer. I am loath to link to this, since the article is almost entirely ad hominem, but some readers were likely to come upon it on their own and put it in Comments. Res ipsa loquitur, and not the way Helmer may think.

Economy

Nearly 1 billion oil barrels drained from global inventories since Hormuz disruption, ADNOC CEO says Reuters

Oil Prices No Longer Follow Headline OilPrice. BWAHAHA

IEA Issues Warning on Gas Market Tightness Extending Into 2027 Bloomberg

How Climate Change Is Raising Borrowing Costs in Europe Tovima

Global Smartphone Shipments Fall 20% in 3Q26 to Lowest Third-Quarter Level Since 2013 Fast Mode

From securitisation to spreads, AI bust could look a lot like the GFC Australian Financial Review

AI boom comes with a debt bomb: Magnificent Seven borrowing surges 45% to $578 billion FirstPost

These firms you’ve never heard of are feeding fears the AI bubble could burst BBC

🦔Meta wants to raise at least $20 billion in new bonds, in dollars and euros, with some running as long as 38 years. That comes a week after it announced plans to sell up to about $97.5 billion in new stock. Meta burned $2.12 billion in cash last quarter, and S&P moved its outlook to negative on Friday. Alphabet and Oracle went to the markets for money today too.

My Take
Selling bonds that run for decades to help pay for chips that wear out in five or six years is a strange match, and Meta will still owe on that debt long after today’s GPUs end up in a landfill. All that new stock dilutes everyone who already owns Meta, which includes most people with an index fund. Alphabet and Oracle doing the same thing on the same day makes me think Big Tech can’t fund this buildout from its own cash anymore.

Hedgie🤗

— Hedgie (@HedgieMarkets) November 2, 2026

The Nordic token tax Klang Research (Micael T)

OpenAI Might Rebrand Its Data Centers As ‘AI Compute Campuses’ TechCrunch.

Class Warfare

Flouting Consumer Law, Insurers Refuse to Pay Medical Bills for Emergency Care New York Times (resilc)

The Obamas never learned their lesson Unherd

One reason the CA billionaire tax is failing is because almost all the money goes to Medicaid. Most Californians are not on Medicaid. Taxing the uber rich to help the poor isn’t as persuasive as helping everyone else in the middle class. Might have polled different if it were tied to a middle class tax cut or other broad benefit for everyone.

— Lee Fang (@lhfang) November 2, 2026

Antidote du jour. Tracie H is back!

And a bonus:

A baby elephant named Ellie was discovered alone in the wild in South Africa, having been rejected by his herd due to a severe umbilical abscess and hernia.

Ellie remained lethargic and deeply depressed, showing no will to live. Recognizing that elephants are intensely social creatures, the team introduced him to Duma, a retired service and sniffer dog residing at the sanctuary.

The effect was instantaneous. As soon as they met at the sand pile, Ellie’s demeanor shifted from despair to curiosity. The two became inseparable, with Duma’s playful energy teaching Ellie how to be a joyful calf again. She finally had a chance to heal and enjoy life.

[📹 Karen Trendler]
[📍 Thula Thula Rhino Orphanage]

— Massimo (@Rainmaker1973) November 2, 2026

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A second: