GIULIETTO CHIESA

FREE JULIAN ASSANGE

WWIII + S SITE

 

CROATIAN   ENGLISH   GREEK   NEDERLANDS   POLSKI   PORTUGUESE   ROMANIAN  SPANISH  РУССКИЙ

What part will your country play in World War III?

By Larry Romanoff

The true origins of the two World Wars have been deleted from all our history books and replaced with mythology. Neither War was started (or desired) by Germany, but both at the instigation of a group of European Zionist Jews with the stated intent of the total destruction of Germany. The documentation is overwhelming and the evidence undeniable. (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11)

That history is being repeated today in a mass grooming of the Western world’s people (especially Americans) in preparation for World War IIIwhich I believe is now imminent

READ MORE

 
 

Wednesday, February 12, 2020

F. William Engdahl -- Will China Virus Trigger New Great Depression?


11.02.2020 Author: F. William Engdahl
Will China Virus Trigger New Great Depression?
Column: Economics
Region: Eastern Asia
Country: China
9766
Historically the greatest economic depressions have started with unexpected events on the periphery of major financial markets. That was the case in May 1931 with the surprise collapse of the Austrian Creditanstalt Bank in Vienna which brought the entire fragile banking system of postwar Germany down with it, triggering the Great Depression in the United States as major US banks were rocked to their foundations. Will it be again an unanticipated event outside the financial markets, namely the China 2029 Novel Coronavirus and its effects on world trade and especially on US-China trade that triggers a new economic depression?
Until around January 20 when the news broke about the coronavirus exploding in China’s Wuhan and surrounding cities, global financial markets and especially in the US were optimistic that the combined actions of the Federal Reserve to pump in more liquidity and of the Trump Administration to do all possible in an election year would keep the economy positive. Stocks continued their artificial climb as Fed liquidity fueled the fires of the most overvalued stock market in US history for January.
However since then, as official China infection numbers soar daily and the deaths attributed to the corona virus climb, it is beginning to sink in that the world’s major manufacturing center and source of a huge part of the global industrial supply chains, China, could face catastrophic economic consequences from the health emergency and resulting cordon sanitaire closings of cities involving at this point more than 77 million citizens and the manufacturing that is linked to it. That in turn could drag the entire world, most especially the USA, into a severe economic downturn at a time it is ill-prepared.
US Economy Already Fragile
What is usually downplayed in major media is the fact that the world’s largest economy, the United States, was already showing alarming signs of economic decline before the China virus shock.
One of the most alarming declines in the past months before January was the sector that many believed was the lead of an American energy renaissance, namely the once-booming shale oil and gas sector. Over the past decade, to the surprise of much of the world, the USA emerged as the world’s largest producer of oil, passing both Russia and Saudi Arabia. At the beginning of January US oil production stood at 13 million barrels a day. The vast share of that rise was due to unconventional shale oil wells, most in Texas.

The US shale energy industry has pinned its hopes on the recent US-China trade deal in which China agreed to buy an extra US$18.5 billion of energy products in 2020. This is double the US$9.1 billion of U.S. imports in 2017, plus an extra US$33.9 billion in 2021. These quotas would represent a doubling this year of China’s previous record monthly imports from the U.S. of crude oil, liquefied natural gas (LNG), and coal, and a tripling of it next year.
This was all before the eruption of the coronavirus and the ensuing travel bans to China by major airlines as well as the closing of large numbers of factories in China. Now oil prices are falling sharply on expectation that the world’s largest oil importer, China, will import significantly less oil in the coming months as the economy is hit by fallout from the virus epidemic. As of end January Chinese oil demand has dropped by about 3 million barrels a day, or 20% of total consumption and the price for the US West Texas Intermediate oil is below $50. This is the greatest oil demand shock since the 2008 financial crisis.
In January, US West Texas Intermediary oil prices fell 15%, the worst January fall since 1991. As daily reports of rising casualties from the China virus appear that gets even worse. Prices continued to fall despite the January cutoff of 1 million barrels of oil daily from Libya’s civil war. As damage from the China epidemic continues to grow, global oil demand will continue to fall. That spells catastrophe for the fragile US shale oil industry, despite an emergency OPEC decision to cut production.
Already in December 2019 before news of the China virus, the number of US shale oil company bankruptcy filings was rising significantly as prices continued to hover below profitability. According to the industry monitor, Baker Hughes, the number of active oil and gas drilling rigs in the US has fallen by 265 from this time a year ago, down to 790 rigs. Many US oil and gas companies are desperately holding on in anticipation of a new export boom to China. While even that was optimistic, the latest developments could turn nightmarish for the US shale producers who face rising costs and declining well productivity.
USA Transportation in Crisis
Unlike the stock market which can rise as companies use Fed liquidity to simply buy back their own shares rather than invest in new plant and equipment, the real economy depends on the movement of freight goods across the economy. In the USA truck transport is major. Here indicators have not been positive well before the China virus events. This past December one of America’s largest trucker groups, Celadon of Indiana, filed for bankruptcy protection, the largest trucking bankruptcy in US history with over 3,000 drivers. In the first three quarters of 2019, nearly 800 truck carriers failed, more than double the failures in 2018, according to Broughton Capital, a transportation industry data firm.
And the decline in US shipments of goods was not only in trucking. It was across the board. According to the trade group, Cass Index for Freight Shipments, in January, year-on-year, total volume of goods shipped by rail, barge, air and land in the US dropped by 7.9%. That was the 13th monthly year-year decline and the sharpest fall since the financial crisis in November 2009. It doesn’t include bulk commodities like grain but includes such things as autos, auto parts. Rail freight was down 9.2%. One major reason for the declines is the weakness in US manufacturing. Jobs are not moving back to the US from China despite recent claims, at least not in any significant numbers. Instead the ISM Purchasing Managers Index for December dropped 0.9 percentage points from November to 47.2%. It was the fifth month in a row of contraction, and the fastest contraction since June 2009. Employment, new orders, new export orders, production, backlog of orders, and inventories were all contracting.
On top of this is the weak state of US farmers following severe weather damage in 2019 and cut off of exports to China as a result of the trade war. The much-touted Phase 1 US-China trade deal in December calls for China to import some $50 billion of US farm products which, if true, would give a major boost to US farmers. In 2017 the US exported $19 billion in agriculture products including soybeans and corn to China. Now, as the coronavirus spreads across China, the likelihood of realizing the farm export boost fades by the day. Already Beijing has hinted it will ask a reconsideration of the new trade agreement because of the virus impacts. In 2019 US farm bankruptcies were 24% higher than 2018 amid one of the worst crises since the 1980’s. Loss of the large China export market in 2020 will be a devastating blow to thousands of farmers barely able to survive.
All this in and of itself does not create an economic catastrophe. However the unexpected shock of the greatest crisis in recent history disrupting the supply chains from the center of world manufacture, China, will have untold consequences on US corporations like Boeing, GM, Apple and countless others if the crisis continues to grow, which, unfortunately, it shows every sign of doing.
For millions of ordinary Americans the rising stock market from the past ten years of ultra-low interest rates has been the main source for their retirement savings. Now with stock markets worldwide in steep selling over fear of the impact of the coronavirus on the world economy, the selloff could turn very quickly into panic liquidation wiping out savings of millions of Americans. With only 41% of American families with even $1000 in savings against an emergency, the impact could be severe.
The difference with the economics of this crisis, unlike those even twenty years ago, is the dramatic impact of globalization of the world economy, with China receiving the lion’s share of manufacturing out-sourcing from the West, especially the US. The major South Korean carmakers Hyundai and Kia just announced suspension of production in Korea because their vital China component supply chain remains shut because of the coronavirus. German industry has become strongly reliant on China exports from auto parts to machine tools, all now in limbo. France, Italy and other EU economies stand also to be hard hit.
Stephen Innes at AxiCorp warns that “any economic shock to China’s colossal industrial and consumption engines will spread rapidly to other countries through the increased trade and financial linkages associated with globalization.” And few countries are more vulnerable to such shocks than the United States. Even with the 2003 SARS crisis in China and Hong Kong the degree of globalization to China was orders of magnitude smaller.
With the total debt of the world economy at a record high, and that of the US as well, the unexpected China health catastrophe could have an economic impact few could have imagined just weeks ago. We have no accurate report of how much Chinese manufacturing is closed to date or for how long and the global supply chain disruption is just beginning. This has the potential to shake the world yet financial markets blissfully ignore all.
F. William Engdahl is strategic risk consultant and lecturer, he holds a degree in politics from Princeton University and is a best-selling author on oil and geopolitics, exclusively for the online magazine “New Eastern Outlook.”


No comments:

Post a Comment

Note: Only a member of this blog may post a comment.

Manifestações

2007 Speech

UKRAINE ON FIRE

Discurso do Presidente da Rússia, Vladimir Putin, na manhã do dia 24 de Fevereiro de 2022

Discurso do Presidente da Rússia, Vladimir Putin, Tradução em português




Presidente da Rússia, Vladimir Putin: Cidadãos da Rússia, Amigos,

Considero ser necessário falar hoje, de novo, sobre os trágicos acontecimentos em Donbass e sobre os aspectos mais importantes de garantir a segurança da Rússia.

Começarei com o que disse no meu discurso de 21 de Fevereiro de 2022. Falei sobre as nossas maiores responsabilidades e preocupações e sobre as ameaças fundamentais que os irresponsáveis políticos ocidentais criaram à Rússia de forma continuada, com rudeza e sem cerimónias, de ano para ano. Refiro-me à expansão da NATO para Leste, que está a aproximar cada vez mais as suas infraestruturas militares da fronteira russa.

É um facto que, durante os últimos 30 anos, temos tentado pacientemente chegar a um acordo com os principais países NATO, relativamente aos princípios de uma segurança igual e indivisível, na Europa. Em resposta às nossas propostas, enfrentámos invariavelmente, ou engano cínico e mentiras, ou tentativas de pressão e de chantagem, enquanto a aliança do Atlântico Norte continuou a expandir-se, apesar dos nossos protestos e preocupações. A sua máquina militar está em movimento e, como disse, aproxima-se da nossa fronteira.

Porque é que isto está a acontecer? De onde veio esta forma insolente de falar que atinge o máximo do seu excepcionalismo, infalibilidade e permissividade? Qual é a explicação para esta atitude de desprezo e desdém pelos nossos interesses e exigências absolutamente legítimas?

Read more

ARRIVING IN CHINA

Ver a imagem de origem

APPEAL


APPEAL TO THE LEADERS OF THE NINE NUCLEAR WEAPONS' STATES

(China, France, India, Israel, North Korea, Pakistan, Russia, the United Kingdom and the United States)

中文 DEUTSCH ENGLISH FRANÇAIS ITALIAN PORTUGUESE RUSSIAN SPANISH ROMÂNA

manlio + maria

MOON OF SHANGHAI site

LR on CORONAVIRUS

LARRY ROMANOFF on CORONAVIRUS

Read more at Moon of Shanghai

World Intellectual Property Day (or Happy Birthday WIPO) - Spruson ...


Moon of Shanghai

L Romanoff

Larry Romanoff,

contributing author

to Cynthia McKinney's new COVID-19 anthology

'When China Sneezes'

When China Sneezes: From the Coronavirus Lockdown to the Global Politico-Economic Crisis

manlio

James Bacque

BYOBLU

irmãos de armas


Subtitled in PT, RO, SP

Click upon CC and choose your language.


manlio

VP




Before the Presidential Address to the Federal Assembly.



The President of Russia delivered
the Address to the Federal Assembly. The ceremony took
place at the Manezh Central Exhibition Hall.


January
15, 2020


vp

President of Russia Vladimir Putin:

Address to the Nation

Address to the Nation.

READ HERE


brics


Imagem

PT -- VLADIMIR PUTIN na Sessão plenária do Fórum Económico Oriental

Excertos da transcrição da sessão plenária do Fórum Económico Oriental

THE PUTIN INTERVIEWS


The Putin Interviews
by Oliver Stone (
FULL VIDEOS) EN/RU/SP/FR/IT/CH


http://tributetoapresident.blogspot.com/2018/07/the-putin-interviews-by-oliver-stone.html




TRIBUTE TO A PRESIDENT


NA PRMEIRA PESSOA

Um auto retrato surpreendentemente sincero do Presidente da Rússia, Vladimir Putin

CONTEÚDO

Prefácio

Personagens Principais em 'Na Primeira Pessoa'

Parte Um: O Filho

Parte Dois: O Estudante

Parte Três: O Estudante Universitário

Parte Quatro: O Jovem especialista

Parte Cinco: O Espia

Parte Seis: O Democrata

Parte Sete: O Burocrata

Parte Oito: O Homem de Família

Parte Nove: O Político

Apêndice: A Rússia na Viragem do Milénio


contaminação nos Açores



Subtitled in EN/PT

Click upon the small wheel at the right side of the video and choose your language.


convegno firenze 2019