Is the economic slowly circling the drain? From Brandon Smith at alt-market.com:
If we are to measure the concept of “economic recovery” in real terms, then we would have to look at the fundamentals (not stock markets) and whether or not they’re improving. Unfortunately, not all economic data is presented to the public honestly. Very often it is mired and obscured in a fog of disinformation and false standards.
I would point out, though, that there is relatively accurate information out there in certain areas of the global economy, and it tells us our economic structure is destabilizing. Beyond that, even the rigged numbers are moving into negative territory. But what does all this mean for the holiday retail season, one of the mainstream’s favorite gauges of US financial health? And, if 2019’s holiday profits sink, what does this tell us is going to happen in 2020?
First, let’s start with what we know…
Since we live in a “globalized” economy where everything is supposedly “interdependent”, it helps to examine international export numbers. The US doesn’t manufacture and export much of anything anymore beyond agricultural products, but global markets do expect us to consume the goods of other nations. A decline in exports indicates a failing global economy, but in particular a failing US consumer economy.
Germany has used the EU For its own ends. From Tom Luongo at tomluongo.me.com:
The crisis in Europe will come from Germany. Germany has entered a period of political crisis that, as yet, has not exploded.
But the pyre is built, the torches lit and all that remains is dragging Chancellor Angela Merkel up and setting the whole thing on fire.
For those that want to understand the fundamental impulses which have led the European Union to where it is today and Germany’s central role one really needs to read Bernard Connolly’s “The Rotten Heart of Europe.”
It’s a book that damns pretty much everyone in their monomaniacal drive for the European Project but, Germany, in particular, to me, comes across the worst.
EU devotees are doubling up on a bad bet. From Martin Jay at strategic-culture.org:
France’s Macron has burst into tears again and has used the British press to hold court and whimper about how he and his EU vision aren’t working out.
Oh to be Emmanuel Macron. The French president appears to be on the edge of some kind of meltdown, following his fatuous comment about NATO being “brain dead”. And glancing at the slow growth in the EU – which is hitting Germany for the first time, as well as of course France – you can see how Macron is starting to panic.
He recently warned in an interview with the Economist that America was turning its back on Europe and that he had no confidence in NATO anymore. Was this a dig at Trump or more specifically a vitriolic outburst at Trump’s policy towards Iran, which in a matter of weeks will turn to the EU for cash hand outs and support, as it pulls out all together from the infamous JCPOA, otherwise known as the Iran Deal?
It looks like Brexit isn’t going to happen. Britain will not escape the clutches of the EU. From Kit Knightly at off-guardian.org:
Europe is crumbling, & Britain’s elite desperately want to be part of the wreckage
REUTERS/Peter Nicholls TPX IMAGES OF THE DAY – RC165ADC9380
Brexit isn’t going to happen. Left or Right – Lexit or Rexit – it’s over. It’s time to make peace with that idea.
Penned in by the absurd Benn Act, No Deal is off the table, which means Britain will be forced to either remain or accept a deal that’s Remain by another name.
The Letwin Ammendment and Johnson’s unsigned extension request are just morbid theatre. Unneccasary nails in a well-sealed coffin.
It’s all very Weekend at Bernies’ – A lame cast of characters, puppeteering Brexit’s corpse to keep up a tired joke that was never funny to begin with.
Parliament has become an absurd pantomime, where a clown Prime Minister – his majority willfully destroyed – sets up straw men that the “opposition” bayonet with increasingly maniacal glee. No thought is given to policy or consequences, only increasing the tally of Boris Johnson’s parliamentary defeats.
Taking a page from Donald Trump’s book, Boris Johnson and his political consigliori Dominic Cummings have branded their opposition’s Brexit strategy “surrender.” It is brilliant labeling. From Mish Shedlock at moneymaven.io:
Boris Johnson labels the acts of Parliament to stop No Deal a “Surrender Act”.
This is correct, of course.
If you take away the EU’s incentives to negotiate, they are less likely to do so.
It’s not a complete white flag as Johnson has other, albeit undisclosed options, in which he proclaims two seemingly contradictory ideas.
- He will abide by the Benn legislation seeking an extension
- He will not ask for an extension
The British people are getting the EU jammed down their throats and hang their vote to leave it. From Tom Luongo at strategic-culture.org:
Brexit and UK Prime Minister Boris Johnson suffered yet another setback after the Supreme Court ruled his proroguing of Parliament illegal. I’m no British legal scholar, and I certainly don’t want to be, but from what I understand the arguments used seem incredibly dangerous.
In effect, the plaintiffs argued that if the Prime Minister can suspend Parliament for any length of time, say three days, it would be legally no different then him suspending Parliament for a year or, even, indefinitely.
That’s a dangerous line of argument given the more than 300+ year history of this process, with the Prime Minister proroguing Parliament under far more dubious conditions in the past. This does limit the role of the Government to conduct business and set the agenda, especially if and when the day comes that Parliament is not staffed by people who are loyal to their constituents and not the political elite.