As we have greatly detailed, the rise and fall of interest rates is a guessing game since facts do not matter. Again, the facts were clear, front and center: Inflation was spiking but the Central Banksters defamed those of us who said it was real and rising and instead declared it was only “temporary” and then “transitory.”
Category: TRENDS ON THE GLOBAL ECONOMIC FRONT – Nov 29 2022
GHANA ASKS TO RESTRUCTURE DEBT TO STAVE OFF DEFAULT
The African nation of Ghana is asking foreign bondholders to swallow losses of as much as 30 percent of principal and forgive interest payments for three years as it tries to qualify for a loan from the International Monetary Fund, Bloomberg reported.
PLAN TO LIMIT RUSSIAN OIL PRICE MIRED IN DEBATE
While European nations argue among themselves about capping natural gas prices, they also are at odds with each other over limiting the price that countries can pay for oil they import from Russia.
EUROPE SQUABBLES OVER PLAN TO CAP GAS PRICE
European nations continue to bicker over whether and how to cap the price of natural gas across the 27 nations that make up the European Union (EU).
JAPAN’S CORE INFLATION WORST IN 40 YEARS
November’s core inflation rate in Japan rose at an annual rate of 3.6 percent, the fastest pace since April 1982 and the sixth consecutive month in which the rate has roamed beyond the Bank of Japan’s 2-percent target.
GERMANY FEARS MASS EXODUS OF MANUFACTURERS
One in four German manufacturers is thinking of moving production to other countries, Tanja Gönner, CEO of the Federation of German Industries told the Die Welt am Sonntag news outlet.
COMMERCIAL REAL ESTATE INDUSTRY CRUNCH
With borrowing costs rising and the economic outlook darkening, commercial landlords and real estate investors are finding it harder to find financing.
U.K. ECONOMIC BLUES TO GET DARKER
Of all G7 countries—seven of the world’s leading economies—the U.K. will grow slowest through the next two years due to a crippling combination of rising interest rates, consumers’ plunging buying power, and unchecked inflation, the Organization for Economic Cooperation and Development (OECD) has predicted.
CHINA CONTINUES LOCKDOWNS. PROTESTS WILL BE QUASHED
China reported about 28,000 new COVID cases on 22 November, triggering a new wave of lockdowns in parts of Beijing, the manufacturing center of Guangzhou, and the metro area of Chongqing, home to more than 31 million people.
WHEN THE ECONOMY FALLS JOBS GO WITH IT
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. This is week 19.