Germany’s Surrender To The Greens Forced A Second Surrender To Russia

https://www.nationandstate.com/2021/12/25/germanys-surrender-to-the-greens-forced-a-second-surrender-to-russia/?amp

Authored by Mike Shedlock via MishTalk.com, Germany is in a world of hurt over natural gas, the price of electricity, and its energy policy in general. Let’s look at how we got here… EU 0 – Putin 1 The following from Eurointelligence on December 17, emphasis…

NEW YORK TIMES: BIDEN’S INFLATION FURTHER CRUSHES THE WORKING CLASS AND THE POOR FOR THANKSGIVING | Balladeer’s Blog

https://glitternight.com/2021/10/27/new-york-times-bidens-inflation-further-crushes-the-working-class-and-the-poor-for-thanksgiving/

Even the Democrat media outlet the New York Times is forced to admit that Joe Biden’s inflation has made this coming Thanksgiving the most expensive ever. The Times admitted that every item for a Thanksgiving meal costs more than ever before as Biden’s inflation and supply chain crisis further crushes the working class and the poor. The Democrats stopped being the party of FDR and JFK long ago. Join so many of us and #walkaway from them to become Independent Voters.

A great piece tracks NINE MONTHS OF BIDEN DISASTERS AND FAILURES.

By the way, even Democrat-dominated Austin, TX has put a measure on the ballot to restore lost funding to its police because of the wild increase in crime after the city foolishly followed the irrational Democrat demand to DEFUND THE POLICE last year.

Austin joins other cities in recognizing the destructiveness of that particular bit of Democrat lunacy.

America Hit By Recession! | Call Me Stormy

https://callmestormy.net/2021/10/22/america-hit-by-recession/?amp=1
In a SHOCKING new report, a Dartmouth professor says America is in a GREAT RECESSION. Professor David Blanchflower warns that the US will enter a recession by the end of 2021. Learn about the coming recession and what it means for you! In other news, Jen Psaki, the spokeswoman for the deadbeat Biden administration, gets SLAMMED by critics after downplaying the supply chain crisis...

‘China’s financial system could collapse’: What the Reserve Bank’s Evergrande bombshell means for Australia – ABC News

https://www.abc.net.au/news/2021-10-08/chinese-property-evergrande-collapse-damage-in-australia/100521564

… “If they act too quickly in addressing these

vulnerabilities, confidence in the implicit guarantees that underpin much of China’s financial system could collapse, which would lead to

financial distress,” the RBA says.

“In contrast, if they act too slowly, the probability of more severe financial stress in the future will increase.

“Continued bailouts also risk further entrenching perceptions of implicit guarantees.”…

The Market Crash Nobody Thinks Is Possible Is Coming, by Charles Hugh Smith | STRAIGHT LINE LOGIC

https://straightlinelogic.com/2021/09/29/the-market-crash-nobody-thinks-is-possible-is-coming-by-charles-hugh-smith/

Charles Hugh Smith foresees a thunderous crash and believes the stock market has already topped out. SLL isn’t arguing with him. From Smith at oftwominds.com:

The banquet of consequences is being served, and risk-off crashes are, like revenge, best served cold.

The ideal setup for a crash is a consensus that a crash is impossible–in other words, just like the present: sure, there are carefully measured murmurings about a “correction” but nobody with anything to lose in the way of public credibility is calling for an honest-to-goodness crash, a real crash, not a wimpy, limp-wristed dip that will immediately be bought.

What I’m calling for is a rip your face off, weeping bitter tears over the grave of the speculative wealth that you thought was forever crash.All those buying the dipbecause the Fed will never let the market go down will be crushed like scurrying cockroaches and all those trying to rotate into the next hot sector or asset class will also be crushed like scurrying cockroaches because when the Everything Bubble pops, well, everything pops. There is no shelter in a risk-off cascade.

The crash is coming as a result of multiple mutually reinforcing dynamics, the first being that no “serious person” believes a crash is possible, much less imminent. In no particular order, here are a raft of other causally consequential triggers of a cascading market crash:

1. As I noted in my call for the top, Is Anyone Willing to Call the Top of the Everything Bubble?(September 6, 2021), there is no history to support the widespread confidence that the extremes of over-valuation, leverage, euphoria and speculation last forever, or even much longer than the lifespan of a cockroach. We’re well past that benchmark into unprecedented insanity. So what happens next: squish.

Just for the record, the Dow topped out on August 13, the S&P 500 topped out on September 2 and the Nasdaq topped out the day after my call, September 7. (Close enough for gummit work…)

Continue reading→

The U.S. Government Vows to “Fix” the Food System, by Bill Bonner | STRAIGHT LINE LOGIC

https://straightlinelogic.com/2021/09/27/the-u-s-government-vows-to-fix-the-food-system-by-bill-bonner/

Like they’ve fixed the educational and medical systems, and turned everything else they’ve touched into crap. From Bill Bonner at rogueeconomics.com:

BALTIMORE, MARYLAND – Things go wrong.

The Wall Street Journalpublished this alert last night:

Democratic leaders are trying to shepherd two complicated legislative packages: a roughly $1 trillion bipartisan infrastructure bill and a sprawling healthcare, education and climate package whose proposed $3.5 trillion price tag and contents are still under intense debate within the party.

At the same time, the government’s funding is set to expire at 12:01 a.m. on Friday, Oct. 1, which would partially shut down the government if Congress doesn’t act. Lawmakers also are feuding over who is responsible for raising the debt limit and avoiding a potentially catastrophic default. Absent swift action, Treasury Secretary Janet Yellen notified Congress this month that the Treasury may be unable to keep paying all of the government’s bills on time during October.

Reuters calls it a “moment of truth” for Congress.

Politicians grandstand. They argue and point the finger at each other.

But if the spending is interrupted, it won’t be interrupted for long. The real truth is that Democrats and Republicans agree on the important issue – that the rip-off of the American public must go on.

Borrow… spend… print… and borrow more.

Eventually, the end of the world as we have known itcomes. And then, things get serious. Painful. Chaotic. And disastrous.

Empty Stomachs

And today, we look at one of the most nightmarish features of the End of the World As We Have Known It: hunger.

It is hard to imagine widespread hunger in the U.S. The country is so rich, so big, so productive… food is so plentiful… and its people are so fat. What could possibly go so wrong as to cause people to go hungry?

Evergrande: Shares in cash-strapped China property giant plunge – BBC News

Comment by tonytran2015: Any overpriced enterprise in heavy debt may go bankrupt suddenly leaving its investors, creditors and employees with heavy losses.

https://www.bbc.com/news/business-58540939

… The firm said it is struggling to sell assets fast enough to service its massive $305bn (£220bn) of debts…

World could face disastrous financial crisis in 2023 on same scale as devastating 2008-2009 economic crash – Russian central bank — RT Russia & Former Soviet Union

https://www.rt.com/russia/533877-central-bank-financial-crisis-2023/

The world might face a financial disaster comparable with the
2008–2009 crisis because of problems accumulated over the last 18
months, which are a byproduct of measures implemented by governments to
battle the spread of Covid-19.
That’s according to the
Central Bank of Russia, which published a Monetary Policy Guidelines
draft report on Wednesday. According to the institution, the world
economy could enter a crisis scenario due to both the increase of global
debt held by countries and the increasing number of companies with weak
financial soundness.

According to the draft, the bank has
developed four separate scenarios for the near future, up to 2024.
According to its so-called ‘baseline’ scenario, a recession is avoided
as countries achieve their vaccine targets and advanced economies shift
toward monetary policy normalization.



Also on rt.com
IMF transfer pushes Russia’s international reserves to historic high

However, the other three possible scenarios paint a decidedly
grimmer picture. In the first instance, the pandemic worsens
significantly causing an economic crash worldwide. In the second, the
pandemic improves, but problems accumulated over the pandemic
deteriorate the economic situation considerably causing a rise in
inflation. In the third, monetary policy normalization by advanced
economies is accompanied by unsteady dynamics in financial markets,
causing a lack of confidence in investors. This is the worst of the
three negative scenarios, the bank says.

Russia’s economy is
suffering from stubbornly high inflation, which currently sits at 6.5%,
and has been blamed for eating significantly into living standards in
the country ahead of upcoming parliamentary elections.

In July,
Central Bank of Russia Governor Elvira Nabiullina revealed that the
institution would be hiking its rate to match its key interest rate to
the 6.5% annual inflation rate in a bid to encourage saving and
discourage borrowing. The bank wishes to get this figure down to the
publicly announced target of 4%.



Also on rt.com
IMF’s $650 billion in pandemic relief will mostly go to rich countries

Could Inflation Sink Biden Plan? – The Lone Cactus

https://thelonecactus317896151.wordpress.com/2021/05/16/could-inflation-sink-biden-plan/

Joe Biden is rooting for the economy to come roaring back after COVID. In fact, he’s banking on it. His plans to spend upwards of $4 trillion on infrastructure, COVID relief, Immigration reform, and other topics has got economists’ heads spinning. Not even Bobo Obama could top the spending spree Biden has planned.

But it all could go away at the snap of the fingers.

Joe Biden is facing one of his biggest fears. He knows that if inflation takes off, there is no way he can battle rising, runaway prices, with more spending. That just can’t be done, and the Republicans in Congress would be quick to tackle him and throw him for a loss if he tries it…