Tuesday, August 30, 2022
Cost..
All are done to keep the Democratic Party in power. Wasteful spending, blocking energy security, avoiding dealing with the "transitory" inflation, National Security claims, Defending Democracy claims, fighting Dictators, Creating tension with China, extend the war in Ukraine, Sanctions that impacted countries, causing recessions, impacting the little people in US and around the globe, is a small price to hold on to the power. Just a thought.
Whopper..
The U.S. economy is going to fall into a recession next year, according to Steve Hanke, a professor of applied economics at Johns Hopkins University, and that's not necessarily because of higher interest rates.
"We will have a recession because we've had five months of zero M2 growth, money supply growth, and the Fed isn't even looking at it," he told CNBC's "Street Signs Asia" on Monday.
In recent months, money supply has stagnated and that's likely to lead to an economic slowdown, Hanke warned. "We're going to have one whopper of a recession in 2023."
Meanwhile, inflation is going to remain high because of "unprecedented growth" in money supply in the United States, Hanke said.
Historically, there has never been "sustained inflation" that isn't the result of excess growth in money supply, and pointed out that money supply in the U.S. saw "unprecedented growth" when Covid began two years ago, he said.
That is why we are having inflation now, and that's why, by the way, we will continue to have inflation through 2023 going into probably 2024," he added.
Monday, August 29, 2022
Tension..
Two United States Navy warships have entered the Taiwan Strait in what is the first US naval transit in the waterway since US-China tensions spiked this month over a visit to the island by House Speaker Nancy Pelosi.
The guided-missile cruisers USS Antietam and USS Chancellorsville were on Sunday making the voyage "through waters where high seas freedoms of navigation and overflight apply in accordance with international law," the US 7th Fleet in Japan said in a statement.
It said the transit was "ongoing" and that there had been "no interference from foreign military forces so far."
So this White House and the Democratic party are looking to start a conflict somewhere with the Chinese/Taiwan story as the domestic agenda deteriorates.
US jumped to talk about helping the Ukraine, doing the same with Taiwan.
Just a thought.
Cap..
The United States had discussions with Indian officials on a proposal to cap prices of Russian oil, US Deputy Treasury Secretary Wally Adeyemo said, as it seeks global support for a proposal to cut Russian revenue.
India and China have stepped up oil purchases from Russia after the Ukraine invasion at a discount to the market price, at a time Western sanctions have pushed global inflation to the highest levels in years and hurt revenues of European and American companies linked to Russia’s oil trade.
The Group of Seven aims to have a price-capping mechanism on Russian oil exports in place by Dec 5, when European Union sanctions banning seaborne imports of Russian crude come into force.
The rest of the world disagree with these G7 in all aspect of the sanctions. The sanctions hurt most countries including the G7. The world is paying a heavy price for fuel, food, fertilizers etc. Just a thought.
Shelter..
Instead, officials are continuing to co-mingle migrants with New Yorkers in the city’s existing shelter system which now includes 15 “emergency” hotel facilities to also help handle a summer population surge, according to the DSS.
So the City that bragged of being the Refuge city all this time when the migrants were a thousand miles away now treating the Migrants like the homeless population, while the homeless are fleeing from the shelters. Go figure. Just a thought.