Tuesday 23 July 2024

Bring back the slow-news days ...


"A comedian asked today if his audience was getting bored from all these slow-news days. Let’s consider the tumult:
    "Over the weekend, President Joe Biden did what he said he would not do and quit his race for a second term as US president. He also endorsed Kamala Harris for the bid. Overnight millions and millions of mega-donor and celebrity donations poured in for Kamala and the Democrats now that their favorite fossil was out of the race. ..
    "Suddenly, former President Trump has a real campaign to run against veritable competition, and reports started emerging that his campaign people are now doubting hopeful VP Vance is up to the new job because he was supposedly picked to electrify the MAGA faithful, but with the new fight for independent voters, the race becomes a different beast. ... Democrats have swung from all-out despair to surging hope over the course of a weekend. ...
    "That graze by a bullet and deaths caused by the assassination attempt have finally united a divided congress to the task of dividing the Secret Service from its leader. ...
  
"This isn’t just the most tumultuous year of political chaos in the US, geopolitics has ramped up in the last couple of months to suddenly outweigh inflation as a concern for markets ... [with] the prospect of an increasingly fractious Europe, isolationist America and a slowdown in the pulse of world trade. ... after a roaring rally, money is rushing out of potential flashpoints - such as Taiwan's stock market - and into havens such as gold, which hit an all-time high last week….
    "'All of Trump's policies are likely to be inflationary - be it tax cuts, immigration, or re-shoring, and hence dollar bearish...so the [US] dollar is likely to depreciate against gold,' ...
    "China’s growth is slowing even more, resulting in rescue packages from the Chinese government. So is growth under Bidenomics. ...
    "At the same time more than $100 billion has been wiped from the market value of Taiwan Semiconductor Manufacturing Co in less than a week after Trump sounded equivocal about his commitment to Taiwan's protection and chip industry. ...
    "Things are also only getting hotter in the Middle East ... Israel bombing Yemen with F-15s in reprisal to a drone attack in Israel by the Houthis ... Russia [moving] ships out of Crimean ports due to decimation of its Black Sea navy by the Ukraine ... Meanwhile, in the West, the Paris Olympics look like a police state, while Europe is gearing up for more war with the introduction of military conscription … In fact, Paris now hosts the largest military camp inside of Paris since WWII so that soldiers (not police) can reach any part of the Paris Olympics, which are scattered around the city, in thirty minutes. ...
    "And, of course, on Friday we had the biggest global internet crash in history. ... part of the mad mix of events that have happened all around the world in less than one week’s time. ..."
~ David Haggith from his post 'The Year of Chaos Roars!'


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