It’s not what we’re doing that may signal disaster, for western developed so-called “democratic” societies, most of all.
Author: admin
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“BREXIT HAS FAILED,” BREXIT LEADER NOW SAYS
In a 15 May BBC television presentation, Nigel Farage said, “Brexit has failed.”
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COMPANY STOCK BUYBACKS SET RECORD, SPARK INVESTOR COMPLAINTS
The world’s 1,200 largest corporations bought a record $1.3 trillion worth of their own stock in 2022, three times the dollar value of the same purchases made ten years earlier, the Financial Times reported.
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WHEN THE ECONOMY GOES, JOBS GO WITH IT
The list of firings each week gets longer. Welcome to week 40 of job losses. As we have kept noting, higher Inflation and interest rate hikes are causing companies in many sectors to lay off employees. To illustrate the employment trends and the socioeconomic implications, each week we will list job losses.
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U.S. OIL AND GAS FIRMS SLASH DRILLING PROGRAMS
The number of oil and gas drilling rigs working in the U.S. has slid 6 percent since the end of 2022 and stood at 731 during the second week of May, Baker Hughes, a major oilfield services firm, reported.
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HOME SALES FALL AGAIN IN APRIL
Last month, U.S. home sales continued their slide that began in January 2022 and reversed only for a month—in February this year—before resuming their decline.
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RECESSION: MOST SMALL BUSINESSES HALT NEW HIRES
For the second consecutive month, most small businesses report they have no plans to add workers over the next 12 months, according to a Wall Street Journal survey.
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HEDGE FUNDS’ BEARISH OIL BETS SIGNAL RECESSION AHEAD
Speculators trading derivatives based on oil and fuel price moves have taken the most bearish positions on oil prices since 2011, according to Bloomberg, indicating they see a recession ahead that will tank oil prices.
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YUAN’S VALUE SHRINKS AGAINST THE DOLLAR
On 17 May, the value of China’s yuan shrank both domestically and internationally, rising past the key benchmark of 7 to the dollar, another sign that the Asian giant’s economic recovery has stumbled.
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JAPAN’S STOCK MARKET CLIMBS TO 33-YEAR HIGH
The Nikkei 225 stock index has risen 16 percent this year and the broader Topix index 13.9 percent, making Japan’s equity market a surprise star performer in 2023.