Imagine the following scenario.
Texas votes to secede from the United States, sparking bitter tension between Austin and Washington. A neo-Nazi party wins seats in the California legislature.
Cook County, home to Chicago, threatens to break away from Illinois to form its own state. Worried about losing such an economically vibrant region, government officials try to prevent the election from taking place.
The federal government vows to suspend North Carolina’s voting rights in Congress simply because it didn’t approve of its behavior. It considers doing likewise for Arizona.
In such a scenario, you might conclude that something is terribly wrong with the United States.
The thing is, this is pretty much what is happening in Europe.
China continues to pursue its ambitious plan to make its currency—the yuan—more international.
The world’s top crude oil importer and key oil demand growth driver is now determined to get as many oil exporters as possible on board with accepting yuan payments for their oil.
China is now trying to persuade OPEC’s kingpin and biggest exporter, Saudi Arabia, to start accepting yuan for its crude oil. If the Chinese succeed, other oil exporters could follow suit and abandon the U.S. dollar as the world’s reserve currency. Pulling oil trade out of U.S. dollars would lead to decreased demand for U.S. securities across the board, Carl Weinberg, chief economist and managing director at High Frequency Economics, tells CNBC. Weinberg believes that the Chinese will “compel” the Saudis to accept to trade oil in yuan.
China has stepped up efforts to work with American businesses in a bid to acquire advanced technology, part of a drive to become a leading technology-innovation power.
“China is pushing to further deepen technology collaboration with U.S. business and academic institutions as part of a national effort to transform its economy, including by putting China at the leading edge of global technological innovation,” said a U.S. intelligence official who provided a recent assessment of China.
“At the same time, Beijing is trying to downplay concerns that this state-led technology acquisition drive creates an unlevel playing field, forces technology transfers to China, limits foreign companies’ access to the Chinese market and is a threat to U.S. and other companies economic strengths,” the official added. Continue reading
QUESTION: Marty; There is talk that Britain will join NAFTA rather than the EU. Does that make sense? What do you think? Continue reading
In 1994, I was working for HBO at a low-level programming job.
My central task was to get HBO streaming interactively on cable lines.
I said to my boss, “The technology to do this is already done. It’s called the web. Why do I have to invent an entirely new way to stream content?”
He said, “James. Calm down. The cable guys know what they are doing. This internet thing is popular with academics but is just a fad.”
And that was that… Continue reading
In his farewell interview for the Financial Times, Federal Minister of Finance Wolfgang Schäuble warned of a new global financial crisis predicated upon the Quantity of Money theory that the central banks had pumped trillions of dollars into the financial system that is creating a risk of “new bubbles”. Indeed, many just do not comprehend what is going on and are blaming the new highs in share markets on concerns about the increased risks from the accumulation of more and more liquidity and the growth of public and private debt. Continue reading
Thanks to years of easy money policies, veteran market forecaster Peter Schiff thinks the Federal Reserve will be out of options to rescue the economy and stock market during the next downturn.
That’s the assessment from Peter Schiff, CEO of Euro Pacific Capital.
With one foot out of the door of Germany’s finance ministry, the former head of the German economy, Wolfgang Schäuble, 75, delivered a fire and brimstone warning over the weekend, telling the FT in an interview that there was a danger of “new bubbles” forming due to the trillions of dollars that central banks have pumped into markets. Schäuble also warned of risks to stability in the eurozone, particularly those posed by bank balance sheets burdened by the post-crisis legacy of non-performing loans, something we warned about since 2012, and an issue which remains largely unresolved.
Taking a broad swipe at the current financial regime – which he helped design – Schauble warned that the world was in danger of “encouraging new bubbles to form”. Continue reading
A stunning fulfillment of a specific Bible prophecy
We are witnessing a shift in the world order that happens only once in a generation. The global system of alliances is being shaken. Such turmoil usually indicates a massive shift in global power. These shifts often trigger major wars.
For most of the 19th century, Britain’s top enemy was Russia. Britain’s whole system of alliances was built to isolate and oppose Russian power. But at the turn of the century, other powers were rising, most notably Germany. This development triggered a complete shake-up. Russia veered from enemy to ally in 1907. World War i followed on the heels of this upheaval.
That shift in alliances did not cause World War i. But it was a symptom of some of the other long-term causes. Continue reading
Saudi Arabia signed on Thursday preliminary agreements to buy S-400 air defence systems and receive “cutting edge technologies” from Russia during King Salman’s landmark visit to Moscow, the Saudi military industries firm said.
The agreement was announced as King Salman, who is on the first official trip to Russia by a Saudi monarch, and Russian President Vladimir Putin held talks at the Kremlin. Continue reading
The geopolitical reality in the Middle East is changing dramatically.
The impact of the Arab Spring, the retraction of the U.S. military, and diminishing economic influence on the Arab world—as displayed during the Obama Administration—are facts.
The emergence of a Russian-Iranian-Turkish triangle is the new reality. The Western hegemony in the MENA region has ended, and not in a shy way, but with a long list of military conflicts and destabilization.
The first visit of a Saudi king to Russia shows the growing power of Russia in the Middle East. It also shows that not only Arab countries such as Saudi Arabia and the UAE, but also Egypt and Libya, are more likely to consider Moscow as a strategic ally.
Russia is poised to break out of its oil-related slump and become one of the best performing emerging markets economies in the years ahead. This sleeping giant is breaking its dependence on oil prices and embraces diversified growth.
When you hear the name “Russia” you probably run for cover. Russia has been the subject of nearly continuous media coverage bordering on frenzy since the election of Donald Trump last November. Continue reading