Charles Hugh Smith on Preventing the Final Fall of Our Democratic Republic.
(The concentration of power into fewer and fewer centers creates enforced "solutions" that serve that power more and more completely, and which are more and more wasteful, painful and destructive than tailored local solutions devised by communities and talented individuals. We're pretty far along.
I have not been ignoring Brexit, but it is chaos, so I suspect that serves somebody, maybe the "City of London" bankers, who will have a "save" when everybody gets desperate around April Fool's Day, when nothing gets across the borders either way. The French yellow vests have figured out that the bankers are their overlords, and whatever the bankers want is what they should fight. Installing a Rothschild investment banker helped them see that. The best I can tell, the bankers really don't want a no-deal-Brexit. The subjugated-but-connected UK that Theresa May has negotiated is fine for them. Maybe they can do even "better". John Ward, The Slog has the inside scoop of this stew.
I think Theresa May wants out before the final collapse of this project. She won't delay a vote, which is certain to lose, on her Brexit deal.
This opinion is that the Bank of England has been itching to raise interest rates, so low for so long, that they would happily do so when the lack of supply of imported goods made them rare and expensive. This would add insult and injury to injury. How could there not be revolt?!The beauty of Brexit, from the BOE’s perspective, is that the economic ramifications from it lock in precisely with the conditions required by the bank to go forward with raising interest rates.
The French Parliament, clearly smelling which way this wind is blowing, will have a no-confidence vote for the-chosen-one on Monday. Busy weekend...Macron had faced similar votes in July after video surfaced of his personal bodyguard beating a May Day protester while wearing police gear. The president ultimately dogged the repercussions as the votes were defeated, solidifying his majority.
Speaking at a conference in Paris on Thursday, Le Maire said he had met with the CEOs of French companies, who agreed to give their workers a one-off tax free bonus.
Le Maire said the bonus would be a "pay-back" for their efforts for the economy. Le Maire also said "anything to increase the paycheck" of workers has his support, (though he claimed measures to "artificially" increase the minimum wage would lead to job losses). "We’re going through a crisis that shows that the dikes have been breached, France no longer is spared from the populist wave," he said, which is why France needs "stability" in fiscal policies.
We now wait to see if the French people's deep-seated rage toward their supremely unpopular president can be soothed with a wad of cash. Meanwhile, leaders of the Yellow Vest movement are demanding to meet with Macron on Friday afternoon ahead of further protests this Saturday. "Macron must listen to his people," one said.
US China Trade Warriors lock and load for hot war. Bill Blain:A few weeks ago one of my very smart CIO contacts warned me the real story of the year isn’t just the implications for supply chains from a Trade Spat, but a more fundamental “Tech Cold War” between China and the US for dominance. It’s a battle that will shortly reach epic proportions, force huge change in the global tech supply chain, and has massive implications for current incumbents.
Over this last few days, its all going off. The US, Australia, NZ and the UK have banned Huawei from new 5G systems over embedded spy tech and “security” issues. Now we learn that even as Xi and Trump were meeting, the CFO of Huawei was arrested in Canada for violating US sanctions on Iran! She is also the daughter of Hauwei’s founder.
I suspect the news will trigger a massive downtrade in stocks today. Brace, Brace, Brace!
The core objective of Trump’s trade war threats are to contain China’s becoming a technological equal and competitor after all its learnt from access and replication of US tech. If we see a full Tech War with lines drawn, then its potentially clobbers everything from Apple down. It means a choice between US Tech or China Tech.
“Made in China 2025” is the Chinese target of becoming the leader in tech, and avoiding just being a US manufacturing centre. Its happening – Hauwei’s lead in 5G is just one example.
Both Cat McGuire (who often sends stories) and Chris Hedges have reviews on the squelched-but-got-out-somehow investigative reporting documentary, "The Lobby". Al Jazeera originally made the film, using a Jewish deep-undercover reporter, who was readily accepted by the members of The Tribe, and told pretty much everything they were doing to manipulate American politicians, voters, churches, and get the Hasbara public relations work of Israel done at any cost, and right away. This is the straight scoop. From the moths of horses. These reviews are different and complimentary and detailed.
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