Global Economy

China expected to surpass the U.S. as the #1 global economy by 2028:

https://www.theguardian.com/world/2020/dec/26/china-to-overtake-us-as-worlds-biggest-economy-by-2028-report-predicts

Russia meets with China, Russia calls on China to reduce the use of the U.S. dollar for payment from the west:

https://www.usnews.com/news/world/articles/2021-03-22/russias-top-diplomat-starts-china-visit-with-call-to-reduce-us-dollar-use

Some observations (quotes are from the article linked, above):

The fact that they plan to trade, based on each other's currencies says that each thinks the other's economy is stable enough to do so.

"We need to reduce sanctions risks by bolstering our technological independence, by switching to payments in our ... currencies and global currencies that serve as an alternative to the dollar," Lavrov said, according to a transcript of his interview released on Monday.

"We need to move away from using international payment systems controlled by the West."

Change "dollar" and "West" to "Left" and it is what a lot of Christians and Conservatives are saying, due to the de facto restart of Operation Chokepoint, which aims to sanction Conservatives and Christians.

The actual actions being taken by Russia and China are not as damaging as what the actions indicate about the underlying loyalties. In the past, we didn't think they would do this, because Russian money was unstable and Chinese money was artificially "manipulated." Now, they trust each other's economics more than they trust us. It is that trust that will do damage to us.

Ahead of his visit, a Chinese state newspaper, The Global Times, suggested Lavrov's trip was a sign of how close China-Russia coordination would offset the impact of what it called "U.S. troublemaking."

"The timing of Lavrov's visit is noteworthy as it means Russia is the first country China shares information and opinions with on key issues after the China-US face-to-face communication," it said.

This, again, goes to the fact that they now trust each other, more than they trust us.

Russia is working on a gas pipeline into Germany, that, once completed, will create a complete dependence of Europe on Russian oil and gas. In other words, Europe will be completely at their mercy. Russia will prosper from that deal, and increase trade with China.

As this happens, the world will begin to trust the Russia-China alliance more than they trust us, and it is that shift in power and trust that will damage us economically.

Container ship stuck in the Suez Canal, what does that mean for global trade? I know the market isn't liking it right now and oil is up around 2.5% so far.

They have no idea how long the canal will be jammed up:

https://finance.yahoo.com/news/suez-canal-blockage-could-mean-for-global-trade-112412918.html

rick1 wrote:Container ship stuck in the Suez Canal, what does that mean for global trade? I know the market isn't liking it right now and oil is up around 2.5% so far.
...

Bad for them, good for us. We won't be sending our money to the Middle East, to pay for oil that can't be delivered. Bad for China, Europe won't be sending their money to China for goods that can't be delivered.

Look up the thucydides trap.

https://en.wikipedia.org/wiki/Thucydides_Trap

And if you believe in strauss/howe generational theory we're about to have an ugly 4th turning.

Drinkthekoolaid wrote:Look up the thucydides trap.

https://en.wikipedia.org/wiki/Thucydides_Trap

And if you believe in strauss/howe generational theory we're about to have an ugly 4th turning.

Nice article Drink, I just might be a believer, only because China (last year) said on national TV, that they would take over the U.S. without firing a bullet.

The sad part is, they are slowly doing it.

It's been awhile since anyone posted anything about the global economy, while, it don't look good. Is what is happening overseas going to spread here in the U.S., various countries (citizens) aren't letting the government go unnoticed. France, Italy, Germany, and others:

https://duckduckgo.com/?q=italy+and+france+protest+over+high+prices&t=ha&va=j&iar=news&ia=news

rick1 wrote:It's been awhile since anyone posted anything about the global economy, while, it don't look good. Is what is happening overseas going to spread here in the U.S., various countries (citizens) aren't letting the government go unnoticed. France, Italy, Germany, and others:

https://duckduckgo.com/?q=italy+and+france+protest+over+high+prices&t=ha&va=j&iar=news&ia=news

US and Canada, and in Europe, everywhere from Great Britain to Ukraine, I believe this October will "Live in Infamy."

Demoncrat Panel summons Trump:
https://www.newsmax.com/politics/trump-subpoena-jan-6/2022/10/21/id/1092896/

Bannon sentenced to 4 months in Jail
https://www.newsmax.com/newsfront/bannon-jan-6-capitol/2022/10/21/id/1092861/

Canada bans handguns
https://www.newsmax.com/world/globaltalk/canada-guns/2022/08/05/id/1081911/

Banks and "Climate Change" agenda intends to cripple fossil fuels and disenfranchise Israel
https://www.newsmax.com/finance/streettalk/federal-reserve-climate-change-exercise-banks/2022/09/29/id/1089619/
https://www.newsmax.com/world/globaltalk/ted-cruz-marsha-blackburn-anti-israel/2022/10/06/id/1090719/

Coming our way, SOON:

https://q107.com/news/9219058/inflation-protests-europe-political-turmoil/

rick1 wrote:Coming our way, SOON:
https://q107.com/news/9219058/inflation-protests-europe-political-turmoil/

Snowball effect. Strikes will lower production, which will cause an increase in inflation. Higher wages will inject more money into the economy, which will cause an increase in inflation.

Lack of energy and high prices for everything including wages will cause businesses, transportation and industry to shut down and lay off people, causing a recession.

But, at least a recession will free up some diesel for the farmers to use.