The Economy’s House of Cards – Adam McKay’s The Big Short Exposes Wall Street’s Collapse (The 2008 financial crisis unraveled)

Germany's cabinet has approved a voluntary military service plan to recruit up to 40,000 teenagers annually, driven by concerns over Russia's aggression and personnel shortages in the armed forces. Defense Minister Boris Pistorius emphasized the need for a larger military, while the bill, which still requires Bundestag approval, faces opposition from some coalition members who demand a more robust approach, including potential reinstatement of conscription. Want More Context? 🔎

Europe is ramping up its rearmament efforts with the inauguration of Rheinmetall's €500mn ammunition plant in Germany, aimed at producing 350,000 artillery rounds annually by 2027 to support Ukraine and bolster NATO stockpiles. In Russia, Ukrainian drone strikes on oil refineries have surged petrol prices, prompting Moscow to impose restrictions on exports, although the military's fuel supply remains largely unaffected. Want More Context? 🔎

Spending summers at beach clubs is a deep-rooted Italian tradition, but attendance has dropped significantly this year due to economic pressures, with national beach club attendance down 25% in July compared to 2024. The debate over beach concessions continues, as current regulations favor long-standing operators, raising concerns about accessibility and pricing amid rising costs for families. Want More Context? 🔎

The recent US-EU trade agreement has significantly weakened the EU's global standing, exposing its political vulnerabilities and undermining its climate agenda while highlighting a troubling trend of “vassalisation heureuse.” As Trump’s imperial vision takes shape, the EU struggles to assert its sovereignty amid growing dissatisfaction among Europeans, revealing an existential threat that could reshape international order if not effectively resisted. Want More Context? 🔎

Ursula von der Leyen is meeting Donald Trump in Scotland to discuss trade as tariff deadlines approach, drawing insights from her recent summits with Japan and China. The article argues that the EU should not concede to US pressures, highlighting the unpredictable nature of Trump's negotiations and suggesting that both the US and EU have more to lose than appears. Want More Context? 🔎

European Commission President Ursula von der Leyen and European Council President António Costa conveyed to Chinese leader Xi Jinping that EU-China relations are at an "inflection point" due to trade imbalances and China's support for Russia amid the Ukraine war. Both sides emphasized the need for mutual solutions to longstanding issues as the summit marks 50 years of EU-China relations, overshadowed by tensions over trade and geopolitical concerns. Want More Context? 🔎