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Though our media are understandably reluctant to report it, Global sentiment is shifting almost daily. So-called ‘facts on the ground’ can only be ignored for so long, and American facts look worse each week while Chinese facts look better. Everyone can see that. Everyone can see everything now, thanks to TikTok and cheap Chinese phones.
Demands that our media do report it, as a matter of national urgency, are finally being heard. Yale’s Jeffry Sachs’ “We’re in Trouble” speech broke the ice. Then came Former Treasury Secretary Larry Summers’ zinger, “There’s a growing acceptance of fragmentation, and — maybe even more troubling — I think there’s a growing sense that ours may not be the best fragment to be associated with”.
This week, the ECB’s Christine Lagarde and FT’s Edward Luce spelled it out, “Geopolitical tensions between the US and China could raise inflation 5% and threaten the dominance of the dollar and euro,” Christine Lagarde told the US CFR yesterday. Added Edward Luce in today’s Financial Times, “Today’s US cannot make trade deals, cannot negotiate global digital rules, cannot abide by WTO rulings and cannot support Bretton Woods reforms. [So] how can China be squeezed into a US-led order in which America itself has stopped believing?”
Like many sects, societies, nations and even empires, America is being destroyed by its self-evidently false ideology, neoliberalism. In defense of the neoliberal narrative it is destroying the very values it so publicly espoused.
China has no intention of interfering with its enemy when he is making a mistake of that magnitude. |
“America is being destroyed by its self-evidently false ideology, neoliberalism.” Exactly. It’s taken a couple of generations, but the inherent flaws of neo-liberalism (or simply liberalism in its near-pure form) have slowly infected most layers of society. From public and private education systems, to the way universities are run, to the ideology being… Read more »
I should add that the liberalism the West has pursued has become a perverted form, (non-textbook) with socialism for the rich and capitalism for the rest, but the parasitic aspects remain and are even enhanced. But even if a text-book form of liberalism existed, the result would be the same… Read more »
Right on Steve – one of the foundations of neoliberalism is indeed reverse socialism – the most obscene manifestation of socialism that has ever existed. The archetypical example is the US financial model where their central bank is owned and manipulated by thieving financial kleptocrats. The good news though is… Read more »
Col, thanks for the extra details that are way above my paygrade.
Isn’t it great to see that with every economic stunt they pull, they shoot themselves in the foot !
dec 31 2023? pardon me, i’m confused?
Apologies Emerstonreturn and well spotted! – my mistake – that should have been Dec 31 2022.
The edit function has expired so I can’t correct it.
The carnage and subprimes continue to grow and the news in the car sales industry is a particularly sobering manifestation of the credit crunch and rapidly hiked interest rates. And all the while we are told massive lies by the 99% that interest rate hikes are the best cure for… Read more »
FIRST REPUBLIC BANK – the unbelievable arrogance and spin. If you take out the $30 billion in uninsured deposits sluiced into their balance sheet by the Wall Street megabanks, FRB lost a mind-numbing 58% of its deposits in just one quarter. I wonder how much longer the soaring eagle logo… Read more »
The Short Form Video News is very utilitarian. Keep it as a feature.
Quick, pleasant and informative on multiple topics.