In celebration of another multi-trillion dollar American military defeat, the end of the Afghan War, the longest war in American history, the U.S. House on Thursday approved its $778 billion fiscal 2022 National Defense Authorization Act. With a strong 316-113 majority vote, the House injected about $25 billion more in spending than President Biden proposed...
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CHINA’S REAL ESTATE MARKET TEETERS ON EVERGRANDE’S DEBT
Chinese real estate giant Evergrande, with 200,000 employees and more than 1,300 residential developments across the country, owes $300 billion and has warned investors that it might have no alternative but to default. That announcement brought investors literally to the company’s doors, demanding their money back, and jolted analysts and the real estate industry to...
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VIRUS, WEATHER TRIP CHINA’S CONSUMER SPENDING
Tighter regulation of the housing and tech markets, flooding during the vacation season, and China’s declared “zero tolerance” policy toward the Delta virus slowed the country’s consumer spending to a growth rate of 2.5 percent in August, about $534 billion worth, year on year, compared to July’s 8.5 percent, The Wall Street Journal reported. The...
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WORLD’S SUPPLY CHAIN SNARLED UNTIL WELL INTO NEXT YEAR
The global supply-chain gridlock—a tangle of materials shortages and transport snarls—will remain unsolved until some time next year, according to manufacturers and transport company executives, Bloomberg reported, as did we in “China Closes Key Port Terminal: Trouble Ahead,” 24 August, 2021. The tangles include: The COVID virus’s Delta variant, which is shutting down production in...
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BLOCKCHAIN BATTLES
VOLATILE CRYPTO NEWS CENTERED AROUND EL SALVADOR. One of the biggest crypto stories over the past two weeks was another run and bust of Bitcoin Ether and other cryptos, all tied around September 6th. That was the day El Salvador officially rolled out its acceptance of Bitcoin as legal tender. After wallowing for several months...
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CHINA PUSH FOR ‘COMMON PROSPERITY’
Chinese President Xi Jinping has announced he is pushing the Communist Party agenda that will attempt to further entrench itself in society by promoting equality and “common prosperity” for all its citizens. The Wall Street Journal reported that the slogan has grown in popularity as Xi pushes to build on the party’s foundation of empowering...
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WILL TALIBAN CASH IN ON $1 TRILLION WORTH OF AFGHAN MINERAL WEALTH?
The Taliban, which took over Kabul with ease last week, now finds itself sitting on top of a fortune in mineral wealth that is coveted by major world players, including China. Afghanistan, which is considered one of the poorest countries on the planet and survives on donations, is actually sitting on mineral deposits of about...
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NO HERD IMMUNITY FOR THE HERD
Go back to 2 December 2020 when America’s most trusted highly touted infectious disease expert, Anthony Fauci, declared that America would reach herd immunity when 70 percent of the nation got the COVID jab. However, in our 3 August Trends Journal we wrote that “Dr. Sharon Alroy-Preis, Director of Public Health Services in Israel said...
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CHINA’S GDP SWELLS 12.7 PERCENT IN 2021’S FIRST SIX MONTHS
After expanding 18.3 percent in this year’s first quarter and 7.9 percent in the second, China’s economy posted a cumulative 12.7-percent growth during the first half of this year to 53.2 trillion yuan, the National Bureau of Statistics reported, the equivalent of about $8.2 trillion. After adding 2.3 percent in 2020, the bureau calculates the...
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SEC CHIEF SETS REGULATORY SIGHTS ON CRYPTO CURRENCIES
Gary Gensler, chair of the U.S. Securities and Exchange Commission (SEC), again promised a regulatory offensive against fraud, market manipulation, and other misconduct in cryptocurrency markets in 3 August comments to the Aspen Security Forum. (See “Cryptocurrency: Special Report,” Trends Journal, 25 May, 2021.) Stablecoins and decentralized finance are two priority areas, he said, because...