I don't watch or listen to things usually but you really have to listen to this astonishingly good analysis to understand the economic consequences of what the man calls ‘the war on two fronts, against Russia and climate change’.
Not to mention China and Covid-19.
Louis Gave explains that politicians thought something needed to be done about Russia, imposing sanctions was something and therefore that was what needed to be done.
The result: European Union countries tore up contracts to buy energy from Russia cheaply in euros and instead bought energy at a much higher spot rate set by Russia in dollars.
He sees two solutions. Start burning coal or agree a peace whereby Russia keeps eastern Ukraine.
I think both of these are very good ideas, the second for the sake not only of Europe as a whole but most of all of Ukraine, which will otherwise be destroyed.
He sees two solutions. Start burning coal or agree a peace whereby Russia keeps eastern Ukraine.
I think both of these are very good ideas, the second for the sake not only of Europe as a whole but most of all of Ukraine, which will otherwise be destroyed.
"History is indeed little more than the register of the crimes, follies, and misfortunes of mankind." Edward Gibbon
We are entering into a debt crisis with the EU financial system in the crosshairs
ReplyDelete“This is why they are pushing for war.... They think they can create a new monetary system, and to do so, they need war.
They think they can keep it just conventional. Then the United Nations can emerge as the white knight and the peacemaker.
Therefore, we get another Bretton Woods. You can redesign all the currencies, and when you do that, you wipe out all the debt. That is what is on the agenda....
There is no way they can get out of this other than default. If they default, they are worried about millions of people storming the parliaments of Europe...
This is really a tremendous financial crisis that we are facing. They have been borrowing year after year since WWII with zero intention of paying anything back.”
Martin Armstrong
https://rumble.com/v1cvw9r-2023-will-be-year-from-hell-martin-armstrong.html
Capt. Mainwaring - "I think you're getting into the realms of fantasy here Jones".
DeleteThere is ample reason to worry that major economies like the United States are heading for a recession, accompanied by cascading financial turmoil. Some of the worst elements of both the 1970s and the 2008 crash are now in play, with equity markets likely to move deeper into bear territory.
DeleteA Stagflationary Debt Crisis Looms
Jun 29, 2022
NOURIEL ROUBINI
“If there is one fact we really can prove, from the history that we really do know, it is that despotism can be a development, often a late development and very often indeed the end of societies that have been highly democratic. A despotism may almost be defined as a tired democracy. As fatigue falls on a community, the citizens are less inclined for that eternal vigilance which has truly been called the price of liberty; and they prefer to arm only one single sentinel to watch the city while they sleep.”
ReplyDeleteG K Chesterton, The Everlasting Man, 1925
Some people lament that there is no despot available but despotism by committee - that could be where we are headed.
DeleteAn incredible 46 million people moved to a new ZIP code over the year to February 2022, the highest annual total since Equifax, a credit agency, began tracking moves in 2010.
ReplyDeleteRepublican-leaning red states gained the most residents — led by Florida, Texas, and North Carolina — while the blue states of California, New York, and Illinois were the biggest migratory losers.
The most popular pandemic-era moves were from New York to Florida and California to Texas — so much so that U-Haul ran out of moving trucks leaving California last year.
The numbers are in: red states are winning
Spectator USA by Michael Hendrix / July 09, 2022
Benny Hill - Wedding Night
ReplyDeletehttps://www.youtube.com/watch?v=QNvUdIxf-oE
Great post and great comments from Toma. The link didn't work, though.
ReplyDeleteThank you for telling me. Here it is. https://shows.acast.com/lockdowntv-with-freddie-sayers/episodes/how-the-west-brought-economic-disaster-on-itself?
DeleteIt should work now.
Delete'great comments from Toma'
DeleteThanks, Caroline. All in the call of duty.