Most of us are wrong about some things now and then. The Remain Camp is wrong about many things most of the time. And Hillary Clinton does wrong about everything all the time. I posted a damning piece yesterday about the balm bollocks pouring out of the 3% bunker at the moment. It seems to have been proved almost entirely accurate almost immediately. So like all realistic motormouths, I’m making the most of it today.
Something I’d been boning up on, when time allowed, over a busy weekend was a key element in yesterdays Slogpost:
At Zero Hedge today:
“It appears Deutsche Bank is prepping for an Avalanche of Fraud Charges Including It’s Gold Derivative Products….”
In the same piece, I condemned Roger Bootle’s Telegraph column by pointing out that his assertion ‘worries about the fragility of the US economy have not been vindicated’ left out several factors, notably ‘the Fed split down the middle on inflation targets and rate hikes’:
At CNBC today:
“The US non-farm payrolls report noticeably underperformed market expectations and effectively killed off the outside possibility of a September rate hike by the Fed,” Angus Nicholson, a market analyst at IG, said in a Monday note.
This makes the fifth time in two months the Fed has changed its view from hawk to dove and back via kestrel. Hardly what you’d call solid confidence in the economy.
I also noted US ‘property prices on the verge of a chute‘.
At The Real Deal US property site now:
‘Goodbye big fat McMansions. Your boom time is over….According to new data from the National Association of Home Builders, the median floor area in new-home starts dropped during the second quarter of this year by about 3 percent.’
No US recovery has ever taken place without a domestic property boom.
This was The Slog’s take on Japan yesterday:
This in the Japan Times two hours ago:
‘During the G-20 meeting, Abe called on fellow leaders to take specific actions to accelerate growth, saying there were “heightening downside risks” as the outlook for the global economy “remains hazy amid uncertain”….citing his economic stimulus package adopted in August to boost growth, Abe urged other leaders to “take specific actions….Advanced and emerging economies must unite and bring the global economy back onto a recovery path”.
Well, there are two chances of that happening. The G20 was dominated by South China Sea tensions between Tokyo and Beijing, and squabbling between the EU and China about its steel overproduction.
Globalism doesn’t work, period. We will never get 20 old and new world nations to unite and share aims when their aims are, blatantly, antithetical.
Just over a fortnight ago, I posted:
At the European Policy Network site last night:
‘Atlante, the fund the Italian government set up to channel private sector money into rescuing banks, has started the engine….It might soothe markets for a while, but it has too limited resources to silence concerns over an Italian banking crisis….Atlante is no long-term solution because banking sector’s woes are tied hand in glove to a sputtering economy. Thousands of SMEs have gone under – a double predicament for banks….the lack of growth is fueling a political malaise that in no time, with the referendum coming up in October, could rob Mr Renzi of the legitimacy and the ability to pass through reforms. The consequences of the banking and political crisis of its third largest economy would certainly not leave Europe indifferent.’
And in other encouraging news, the pro EU BBC reports this morning:
And in today’s Torynaff, it is opined that ‘Theresa May’s frosty reception at the G20 shows she cannot stonewall about Brexit forever’ , so there. This shot shows her at the meeting with Top Aussie Malcolm Turnbull:
Turnbull said that “There couldn’t be two countries with closer bonds than Australia & Britain.” Oh dear: what more can I do – looking closely at Theresa Mantis’s profile there – but warn the antipodean PM about another recent post at The Slog:
‘There are no ifs or buts about it for the mantis – the deal is always the same: ‘life’s a f**k, and then you die’. The female gets deflowered, and the male gets devoured. It’s no good whingeing that you weren’t ready or the other side told a pack of lies: the decision is final, inevitable and irreversible: she’s pregnant, you’re dead.’
Keep it in yer strides, Malc mite.