#world economy

[contemplatingoutlander]

Falling inflation, rising growth give U.S. the world’s best recovery

The European economy, hobbled by unfamiliar weakness in Germany, is barely growing. China is struggling to recapture its sizzle. And Japan continues to disappoint. But in the United States, it’s a different story. Here, despite lingering consumer angst over inflation, the surprisingly strong economy is outperforming all of its major trading partners. Since 2020, the United States has powered through a once-in-a-century pandemic, the highest inflation in 40 years and fallout from two foreign wars. Now, after posting faster annual growth last year than in 2022, the U.S. economy is quashing fears of a new recession while offering lessons for future crisis-fighting. “The U.S. has really come out of this into a place of strength and is moving forward like covid never happened,” said Claudia Sahm, a former Federal Reserve economist who now runs an eponymous consulting firm. “We earned this; it wasn’t just a fluke.” On Friday, President Biden hailed fresh government data showing that annual inflation over the second half of 2023 fell back to the Federal Reserve’s 2 percent target. Coupled with Thursday’s news that the economy grew by 3.1 percent over the past 12 months, the Commerce Department report showed that the United States appears to have achieved an economic soft landing. The post-pandemic recovery challenged long-standing economic beliefs, such as the idea of an inverse relationship between unemployment and inflation. (As one rose, the other was expected to fall.) Expressed in what economists call the Phillips curve, this nostrum proved nearly useless in explaining the economy’s recent behavior. [...] “Putting money in people’s hands vs. moving around interest rates, which is monetary policy, fiscal policy is going to be stronger,” Sahm said. “We cannot go into the next crisis being, like, ‘Oh, the Fed’s got this.’” Consumer spending is driving the economy: Real consumption rose by 0.5 percent in December, its fastest pace since last January. Pending home sales jumped, too. Following the flurry of good news, JPMorgan Chase economists said they raised their first-quarter growth forecast.

Biden deserves credit for turning the economy around. This was a front page headline article on the WaPo website for a short time on Sunday Jan. 28th. I didn't see anything about this on The New York Times front page website. The mainstream media should do a better job of conveying this good news about the economy. Certainly, the right-wing media won't do so.

[thebillyengland]

World Economic Forum's ENTIRE plan EXPOSED in just 60 seconds— This is what attacks against Dutch farmers are REALLY about...

[head-post]

UK may worsen by £311bn by 2035 due to leaving EU – new Brexit report

Brexit has cost the UK £140bn so far, according to a new analysis. The new report predicts the country may be worse off by £311bn by the middle of the next decade, Sky News reports.

Economists and analysts at Cambridge Econometrics, commissioned by London Mayor Sadiq Khan, modelled the country’s economy if it had not quit the EU. This was compared with data published by the Office for Budget of Responsibility in March 2023 and projections based on that data.

According to the report’s findings, the country faces slowing economic growth, declining employment, a strong negative impact on investment, falling imports, and a widening gap between London and the rest of the UK.

Read more HERE

[mrandytrejo]

Watch "10 Most Developed Countries to lived In the World" on YouTube

[dreaminginthedeepsouth]

LETTERS FROM AN AMERICAN

April 26, 2023

HEATHER COX RICHARDSON

Well, the Republicans did it. After middle-of-the-night negotiations to include more of the far right’s wish list, House Republicans passed a bill agreeing to a short-term raising of the debt ceiling, so long as it is accompanied by massive spending cuts and a rollback of Biden’s major accomplishments. The bill squeaked through by a vote of 217 to 215, mostly along party lines. Four extremist Republicans voted no because they believed the measure didn’t go far enough to slash spending.

The administration reiterated that it would not negotiate over paying the nation’s bills. “In our history, we have never defaulted on our debt or failed to pay our bills,” White House Press Secretary Karine Jean-Pierre said in a statement. “Congressional Republicans must act immediately and without conditions to avoid default and ensure that the full faith and credit of the United States is not put at risk. That is their job. Economists have warned that default could spark a dangerous financial crisis, lead to a recession costing millions of Americans their jobs, endanger hard-working Americans’ retirement savings, and increase long-term federal borrowing costs, adding to deficits and debt. We are not a deadbeat nation.”

“I am here because Donald Trump raped me, and when I wrote about it, he said it didn’t happen,” E. Jean Carroll said in court today for the former president’s civil trial for rape. “He lied and shattered my reputation, and I am here to try to get my life back.” Carroll offered a detailed account of what she says was Trump’s attack nearly 30 years ago, an attack that warped her life.

While she testified, Trump attacked Carroll on social media. The judge overseeing the case, U.S. District Judge Lewis Kaplan, warned Trump’s lawyer that his client’s statement was “entirely inappropriate,” saying he was trying to influence the jury. Any more commentary might open up “a new source of potential liability,” Kaplan said. The lawyer said he would do the best he could to silence Trump, but later in the day, Trump posted another attack and his son Eric Trump followed suit.

“I wanted to address my senators, Cruz and Cornyn,” Amanda Zurawski told the Senate Committee on the Judiciary today at a hearing on reproductive rights in the wake of the Supreme Court’s overturning of the Roe v. Wade decision. Zurawski’s water broke 18 weeks into her pregnancy, making it impossible for her fetus to survive. Because of the vague and extreme antiabortion bill Texas lawmakers had passed, her health care providers refused to treat her so long as the fetus had a heartbeat, denying her an abortion. Zurawski developed deadly sepsis and, after giving birth to a stillborn daughter, spent three days in intensive care as doctors worked to save her life.

Zurawski said she wanted the two Texas Republican senators to know “that what happened to me I think most people in this room would agree was horrific. But it’s a direct result of the policies they support. I nearly died on their watch, and…I may have been robbed of the opportunity to have children in the future. And it’s because of the policies that they support.”

Neither Cruz nor Cornyn showed up to hear her. Cornyn later said Zurawski should consider suing her doctors for misinterpreting the law. Zurawski responded: “[M]y physician and my team of health care professionals that I saw over the course of three days, while I was repeatedly turned away from health care access, made the decision to not provide an abortion because that’s what they felt they had to do under Texas’ law…. And that will continue to happen and it is continuing to happen, and it’s not a result of misinterpretation. It’s the result of confusion, and the confusion is because [of] the way the law is written.”

Today, the Walt Disney Company sued Florida governor Ron DeSantis over his “relentless campaign to weaponize government power” and attack free speech. Disney’s former chief executive officer last year spoke out against the governor’s law prohibiting teachers from mentioning sexual orientation or gender identity. The lawsuit says that DeSantis’s attack “now threatens Disney’s business operations, jeopardizes its economic future in the region, and violates its constitutional rights.”

“For more than half a century,” the lawsuit reads,” Disney has made an immeasurable impact on Florida and its economy, establishing Central Florida as a top global tourist destination and attracting tens of millions of visitors to the State each year. People and families from every corner of the globe have traveled to Walt Disney World,” but that relationship is now in jeopardy, the lawsuit warns. “A targeted campaign of government retaliation—orchestrated at every step by Governor DeSantis as punishment for Disney’s protected speech—now threatens Disney’s business operations, jeopardizes its economic future in the region, and violates its constitutional rights.”

Meanwhile, DeSantis is overseas on what has been billed as a trade mission.

Tonight, the Washington, D.C., Circuit Court of Appeals denied Trump’s last-ditch attempt to prevent former vice president Mike Pence from testifying before the grand jury investigating Trump’s attempt to overthrow the results of the 2020 presidential election. The grand jury has issued a subpoena for Pence; Trump tried to argue that Pence’s testimony was barred because of executive privilege. The court of appeals disagreed.

Today, two associates of former Trump ally Steve Bannon were sentenced to four years and three years in prison for soliciting donations for their “We Build the Wall” charity and then pocketing the money. Bannon was also charged in the case, but Trump pardoned him for his involvement in it before he left office.

Meanwhile, in Washington, D.C., today, President Joe Biden and President Yoon Suk Yeol of South Korea reaffirmed what Biden called the “ironclad” alliance between the two countries. They announced a new agreement, the so-called Washington Declaration, to increase cooperation in order to strengthen the message of nuclear deterrence conveyed to North Korea. This deterrence will include military training and exercises, the establishment of a joint nuclear consultative group, and the visit of a nuclear-armed submarine to South Korea. “We’re not going to be stationing nuclear weapons on the peninsula, but we will have visits to ports, visits of nuclear submarines and things like that,” Biden said.

“A nuclear attack by North Korea against the United States or its allies and partners is unacceptable and will result in the end of whatever regime were to take such an action,” he added, a public reassurance Yoon was hoping to receive when he arrived in Washington. Nervous about North Korean development of nuclear weapons, a majority of South Koreans want to develop their own nuclear weapons, a stance the U.S. strongly opposes.

This official state visit, the second of the Biden presidency, reinforced the changing political landscape in the Indo-Pacific, where the United States seeks to support Japan and South Korea to counter the growing power of China. Since 2021, Korean businesses have invested more than $100 billion in the U.S., an investment that the White House says will create more than 40,000 new jobs here, while the U.S., in turn, is investing in South Korea. The presidents vowed to continue to work together to secure supply chains, develop clean energy, and cooperate on cybersecurity and emerging technologies.

Biden and Yoon have met four times before, and the mood at the White House after the announcement was friendly and celebratory. At tonight’s dinner in President Yoon’s honor, the attendees gave the South Korean leader a standing ovation when he sang the first verse of Don McLean’s 1971 rock ballad “American Pie.”

LETTERS FROM AN AMERICAN

HEATHER COX RICHARDSON

[kneedeepincynade]

The west dreams of an impoverished and defeated China will never become true

The post is machine translated

Translation is at the bottom

The collective is on telegram

🥰 L'ECONOMIA CINESE CRESCE DEL 4,9% NEL TERZO TRIMESTE DEL 2023, SUPERANDO LE ASPETTATIVE 🥳

🌸 Come scrissi a settembre, riprendendo un estratto dall'Editoriale "The development of China will shatter all bad-mouthing voices" del "环球时报: «Ogni ciclo della "China Collapse Theory" si è concluso con il collasso della teoria stessa, e questo ciclo non farà eccezione» 😂

🤹‍♂️ Ogni anno, la propaganda anti-Cinese promuove la ridicola "China Collapse Theory" | Tuttavia, è nel 2023 che i media anti-Cinesi di tutto l'Occidente si sono "superati", tra i mantra «A quale prezzo?», «Trema l'Economia Mondiale», «Una nuova Lehman Brothers» e così via. Tutti gli 小丑 hanno avuto il loro momento 😂

📈 Dopo aver registrato un +4,5% nel Q1 e un +6,3% nel Q2, il GDP della Repubblica Popolare Cinese è cresciuto del 4,9% nel Q3, battendo le previsioni degli economisti occidentali (+4,4%), dimostrando un ulteriore slancio dell'Economia Cinese 🥳

💬 «Respingendo le diffamazioni dei media occidentali sull'Economia Cinese, gli analisti Cinesi hanno affermato che l'Economia ha ottenuto risultati superiori alle aspettative, ed è sulla buona strada per raggiungere il suo obiettivo di crescita annuale di ~ 5%», scrive 马��晶 nell'articolo "China’s GDP expands 4.9% in Q3 as economic recovery momentum strengthens" 🇨🇳

🚩 L'Ufficio Nazionale di Statistica della Repubblica Popolare Cinese ha mostrato i dati del Q3 e del GDP nei primi tre trimestri, che mostrano una crescita del 5,2% 🎉

🤔 Molteplici sono i fattori che hanno contribuito al +4,9% del Q3: il potenziamento della domanda interna, la crescita stabile del commercio estero e, soprattutto, della produzione industriale ⭐️

📈 A settembre, le vendite totali al dettaglio di beni di consumo sono aumentate del 5,5% su base annua, superando le previsioni degli analisti 🥳

💬 «Rispetto alle principali economia, l'Economia Cinese è relativamente stabile. Poiché l'Economia Cinese si trova in un periodo critico di ripresa economica e di aggiustamento della struttura industriale, le sfide affrontate dall'Economia rientrano nelle aspettative. Tuttavia, le sfide e le pressioni non ostacoleranno lo Sviluppo della Cina, poiché perseguiamo fermamente uno Sviluppo di Alta Qualità», ha dichiarato Cong Yi - Professore dell'Università di Finanza ed Economia di Tianjin 🇨🇳

📈 Crescono, nuovamente, i salari, soprattutto per i lavoratori del settore tecnico-scientifico, come si può leggere qui: 2023年中国市场不含冻薪薪资增长率为4.9%，预计2024年为5.0% 📊

🤔 Tuttavia, c'è ancora molto da fare, e per il Q4 saranno necessari sforzi ancora maggiori per raggiungere gli obiettivi-chiave del 14° Piano Quinquennale (2021 - 2025), stilato dalla 中华人民共和国国家发展和改革委员会 - l'Agenzia di Pianificazione Macro-Economica della Repubblica Popolare Cinese 🚩

😂 E il "Collasso"?, e tutti gli articoli anti-Cinesi ricolmi di wishful-thinking su 恒大集团 - Evergrande Group? 哈哈哈哈哈 😂 | Gli "analisti" occidentali ritratteranno le proprie posizioni? Chiederanno scusa? È una domanda retorica, ovviamente 😂

😂 意大利期刊与法国或德国期刊一样，都是美利坚合众国的奴隶。它们不断重复美国对中国的宣传。读意大利期刊对中国经济的 "分析 "非常有趣，因为意大利经济就是个笑话，被债务、可怕的基础设施和糟糕的市场环境摧毁了 🇮🇹 🇫🇷 🇩🇪 😂

😍 Ai propagandisti anti-Cinesi, dall'Italia del "miracolo economico" alla Germania in ginocchio, passando per gli USA in deficit di trilioni di dollari, consiglio l'articolo: 中医怎么缓解胃痛 中医7大偏方火速解决胃痛 - 7 Rimedi della Medicina Tradizionale Cinese per risolvere il mal di stomaco 😉

🔍 Approfondimenti:

😂 Il (nuovo) collasso della "China Collapse Theory" | La Cina sconfigge la "deflazione" in un solo mese, e continua a crescere 📈

😂 "Capolavoro" di propaganda anti-Cinese di Bloomberg: annunciano un deflusso sugli ETF Cina, per poi dichiarare l'opposto 24 ore dopo 😂

😂 某人的疯狂幻想并不能改变现实 - le folli fantasie di qualcuno non cambiano la realtà 😀

😂 "China will collapse!" / "China is the biggest World threat!" - il dualismo ridicolo della propaganda anti-Cinese 🤹‍♂️

🌸 Iscriviti 👉 @collettivoshaoshan 😘

🥰 CHINESE ECONOMY GROWS BY 4.9% IN THE THIRD QUARTER OF 2023, EXCEEDING EXPECTATIONS 🥳

🌸 As I wrote in September, taking an excerpt from the Editorial "The development of China will shatter all bad-mouthing voices" of the "环球时报: «Each cycle of the "China Collapse Theory" ended with the collapse of the theory itself, and this cycle will be no exception" 😂

🤹‍♂️ Every year, anti-China propaganda promotes the ridiculous "China Collapse Theory" | However, it is in 2023 that the anti-Chinese media throughout the West have "outdone themselves", between the mantras «At what price?», «The World Economy is shaking», «A new Lehman Brothers» and so on. All 小丑 had their moment 😂

📈 After recording +4.5% in Q1 and +6.3% in Q2, the GDP of the People's Republic of China grew by 4.9% in Q3, beating the forecasts of Western economists (+4.4% ), demonstrating further momentum in the Chinese economy 🥳

💬 «Rejecting Western media's smears of the Chinese Economy, Chinese analysts said that the Economy has performed above expectations, and is on track to reach its annual growth target of ~5%», writes 马晶晶in the article "China's GDP expands 4.9% in Q3 as economic recovery momentum strengthens" 🇨🇳

🚩 The National Bureau of Statistics of the People's Republic of China showed Q3 and GDP data in the first three quarters, showing growth of 5.2% 🎉

🤔 There are many factors that contributed to the +4.9% in Q3: the strengthening of internal demand, the stable growth of foreign trade and, above all, of industrial production ⭐️

📈 In September, total retail sales of consumer goods rose 5.5% year over year, beating analysts' forecasts 🥳

💬 «Compared to major economies, the Chinese economy is relatively stable. As the Chinese Economy is in a critical period of economic recovery and industrial structure adjustment, the challenges faced by the Economy are within expectations. However, challenges and pressures will not hinder China's Development, as we firmly pursue High-Quality Development,” said Cong Yi - Professor of Tianjin University of Finance and Economics 🇨🇳

📈 Wages are growing again, especially for workers in the technical-scientific sector, as you can read here: 2023年中国市场不含冻薪薪资增长率为4.9%，预计2024年为5.0% 📊

🤔 However, there is still a lot to do, and for Q4 even greater efforts will be needed to achieve the key objectives of the 14th Five-Year Plan (2021 - 2025), drawn up by the 中华人民共和国国家发展和改革委员会 - the Macro-Economic Planning Agency of the People's Republic of China 🚩

😂 And the "Collapse"?, and all the anti-Chinese articles full of wishful-thinking on 恒大集团 - Evergrande Group? 哈哈哈哈哈 😂 | Will Western "analysts" recant their positions? Will they apologize? It's a rhetorical question, obviously 😂

😂 意大利期刊与法国或德国期刊一样，都是美利坚合众国的奴隶。它们不断重复美国对中国的宣传。读意大利期刊对中国经济的 "分析 "非常有趣，因为意大利经济就是个笑话，被债务、可怕的基础设施和糟糕的市场环境摧毁了 🇮🇹 🇫🇷 🇩🇪 😂

😍 To anti-Chinese propagandists, from the Italy of the "economic miracle" to Germany on its knees, passing through the USA in deficit of trillions of dollars, I recommend the article: 中医怎么缓解胃痛 中医7大偏方火速解决胃痛 - 7 Remedies of Traditional Chinese Medicine to resolve stomach pain 😉

🔍 Further information:

😂 The (new) collapse of the "China Collapse Theory" | China defeats "deflation" in just one month, and continues to grow 📈

😂 Bloomberg's anti-China propaganda "masterpiece": they announce an outflow on China ETFs, then declare the opposite 24 hours later 😂

😂 某人的疯狂幻想并不能改变现实 - someone's crazy fantasies don't change reality 😀

😂 "China will collapse!" / "China is the biggest World threat!" - the ridiculous dualism of anti-Chinese propaganda 🤹‍♂️

🌸 Subscribe 👉 @collectivoshaoshan 😘

[tilos-tagebuch]

⚡ Wichtige Aussagen des russischen Präsidenten Wladimir Putin in seiner Ansprache vor den Delegierten des Ostwirtschaftsforums:

▪️ Die Weltwirtschaft ändert sich weiter, vor allem weil der Westen das System der Finanzbeziehungen niederreißt;

▪️ Inmitten der Zerstörung des Finanzsystems durch den Westen wächst die Liste der Länder, die bereit sind, nicht auf westlichen Konventionen, sondern für die gesamte Menschheit zu kooperieren;

▪️ Die Dynamik der Investitionen im Fernen Osten ist dreimal schneller als für ganz Russland in seiner Gesamtheit;

▪️ Die meisten Regionen im fernöstlichen Bundesbezirk sind immer noch mit Energieknappheit konfrontiert, und dies ist ein Problem, dass eine umfassende Aktualisierung dieser Branche erforderlich macht;

▪️ Es ist notwendig, die Logistikrouten im Fernen Osten zu erweitern, einschließlich der Nordseeroute;

▪️ Hochgeschwindigkeits-Autobahnen werden durch Sibirien, den Fernen Osten bis zum Pazifik führen;

▪️ Der russische Präsident Wladimir Putin hat gefordert, bis zum 1. März einen umfassenden Aktionsplan für die Entwicklung des Luftkomplexes des fernöstlichen Bundesbezirks auszuarbeiten;

▪️ Die ständige Verbesserung der Bedingungen für Geschäfte in Fernost ist ein Muss;

▪️ Die globale Wirtschaftslage hat unsere Arbeit im Fernen Osten belebt;

▪️ Die Beschränkung der Zahlungen in Dollar hat alle Länder dazu getrieben, Zahlungen in nationalen Währungen ins Visier zu nehmen, während das Vertrauen in den Westen untergraben wird;

▪️ Heute haben sich Logistikketten für die Lieferung von Waren fast erholt, und das ist auf den Wechselkurs zurückzuführen;

▪️ Wir müssen uns mit der Wirtschaft einigen, damit sie verstehen, dass es sicherer ist, in Russland zu arbeiten.

Source: Pepe Escobar on Sputnik Global

[penemues-quill]

I believe there is a problem that affects the entire world that we are failing to acknowledge and address; a problem by which mankind has screwed itself. And I realize also that the excision of this problem is going to be very painful and very difficult.

But it is the stock market. The existence of a parasite caste that not only survives but grows fat by feeding on the working class.

And if you don't know about this problem I'll do my best to explain.

It started when people had the idea of selling shares of a potential business idea they had in order to have capital to begin the business.. If the business did well then the people with the shares could trade them back in for that percentage out of the value of the business. Which sounds fine, right?

Where we got into trouble was the practice of trading shares on a marketplace, which meant that startups had to compete with each other directly to get people to invest in them. They had to offer the best return. And it was no longer about people liking the ideas and investing because they wanted to see that thing brought into the world - it became about profit and nothing else.

The other major ingredient in this fuckup salad was that companies would sell as many shares as they could to amass capital. Then spend that to make themselves look more successful and drive up demand.

The issue with that is that the shares in the hands of the shareholders end up being worth more than the typical large company has in available liquid assets. In short, if the shareholders were to start cashing in, the company wouldn't be able to afford to pay them and would go out of business.

And since the shareholders have gotten used to living off of the growth of the company shares, if that growth stops, they will indeed cash out and find another new startup to invest in. So the company promises growth, and has to find ways to increase profit every year. Which is very difficult once they've expanded to fill their market. Once there's no more room for natural growth, they have to start finding other ways to increase profits.

They'll look for cheaper means of production, offer less for the same price, start firing employees, cutting corners on safety regulations... They wind up trimming their own fat to feed the parasites.

And they've dug in so deep, their heads are buried so completely in the thick skin of the world's economy, that I don't know how to extract it.

[lobsterenthusiastt]

your country is in severe economic debt

[calicojack1718]

The Republican Party Means to Destroy the World Economy to Create a US Oligarchic Dystopia

The Republicans sure do seem intent on destroying the US. Defaulting on the debt would cripple our economy and create the conditions for them to usher in their GOP Dystopia.

The Dark Tetrad Personalities are the Biggest Threat to the Debt Ceiling I don’t know about you, but I’ve been watching the slow moving debt ceiling debacle with all the fascination that a bloody multi-car pile up on an interstate gets. Like most other people watching the Republicans shoot the world’s economy in the gonads, hide the smoking gun behind their back, and point at Biden, I’m struck…

[hmtanvir]

🙂🙂

[official-waitrose]

It would appear the laws of supply and demand prevent us from raising our prices further. We are in contact with the world economic forum to rectify this issue.