Tag Archives: Greece

The mental delay

There is a mental delay; we all have it, the moment between the realisation that things are wrong and the rest of the media finally willing to confess to the wrongful parts after they had been milked to the maximum. This is where I believe the UK is when I see: ‘Poll surge for Farage sparks panic among Tories and Labour‘ (at https://www.theguardian.com/politics/2019/may/11/poll-surge-for-farage-panic-conservatives-and-labour). The situation is given through “Support for the Conservatives at the European elections slumps to 11%, less than a third of what the Brexit party is polling“. From my point of view, it is not really a surprise. The people have had enough of the ECB and their lack of control and accountability. The people in Europe are down 3 trillion euro through ill-conceived plans, it gets to be even worse when we consider the march news from the Financial Times ‘ECB unveils fresh bank stimulus amid rising Eurozone gloom‘, a setting that is not unlike irresponsible children using a credit card for which they do not have to pay the bill, the people have had enough. It is emphasized by other media giving us quotes like “Even if we stipulate that Greece’s government is, in fact, as creditworthy as the U.S. government, why would investors accept a lower yield on the Greek bond? And why are they willing to accept the even lower yields on the bonds of other Eurozone governments?“, as well as “Despite the low Eurozone bond yields, investors may expect eventually to boost their returns by selling the expensive euros and buying cheaper dollars and other currencies. Indeed, there is some basis for such a strategy. As of late April, the consensus among analysts was that the euro will appreciate significantly over the next couple of years, and more modestly thereafter; forward markets (where buyers and sellers settle the price of a future transaction in advance) support this consensus view.” Source: MarketWatch.

My issue is that the writing has been on the wall for a while and whilst we are given “The poll suggests the Brexit party, launched only last month, is now on course for a thumping victory that Farage will, MPs fear, use to back his argument that the UK must leave the EU immediately without a deal“, it was a risk that had been 3 years in the making and now that the time is over, we see panic on a few levels. The need for Status Quo as well as the continued Gravy train is now at a stage that the UK and others have had enough, a stage where the large four are pulling a cart where 20 others have not been doing their bit, not even to the smallest degree. From my personal view, the biggest loser is Tony Blair when we consider: “Writing for the Observer online, the former prime minister Tony Blair says it is vital that Labour supporters go to the polls, even if they choose a party more clearly in favour of Remain than Labour“, in a stage where the ECB does as it pleases, the people have largely lost faith, with the economic anchors Greece and Italy still firmly in place things will not get better, not in a Bremain stage of mind. Even as we accept that things will get worse, there is enough indication that it will be relatively short term, without the anchors, the 15 smallest EU nations will unite against the UK, only to find that the setback will increase, a voice without money is worth the value of the empty wallet at best. The IMF report makes it merely worse, the stage where the three largest EU economies are Germany, France and Italy and their prospects are in the basement for this year, led by Italy with a forecast that is somewhere between 10% and 25 % of last year, and as I took the UK out of this, we will see that as the others slide faster, the UK will suddenly become the place to be, a nation in repair. Then MarketWatch gives us a part that I have been claiming for over 2 years: “Policy makers also underplay the financial risks. They emphasize the decline in government debt ratios and banks’ nonperforming loans from their peaks reached during the euro-area crisis. They fail to note, however, that these vulnerabilities are at present distinctly higher than they were in mid-2007 for virtually all Eurozone countries“, whatever options they thought they had was squandered away by the ECB stimulus plans that did not work twice around and now they are giving us an attempt at option three, with no evidence that the third time has any chance of being a charm.

So when I see “‘northern’ Eurozone governments worry that the ECB may be left holding debt that may never be repaid“, which is nice, but I told that the people close to two years ago. It is nice for others to catch up this late. All this is before we give consideration to ‘Italy budget deficit forecast to smash EU fiscal rules‘ (at https://www.ft.com/content/e3b662d2-70ac-11e9-bf5c-6eeb837566c5) all thanks (in part) to an ECB that cannot restrain itself or its members, the UK is much better out and the sooner they do this, the better it is for all. The problem is not merely the deficit, the economy downturn will hit jobs soon thereafter, so before the end of the year. As such the unemployment rate that was merely a stitch below 11% in February 2019 could hit 14% by October, and with one out of three Italian youths without a job, that situation will worsen. It is already worse than Spain, but it will worsen still, that is merely one of the 4 large economies, whilst the ECB was too worried on the next bonus spreadsheet, we will now end up having spreadsheets where the dominant colour is red, on pretty much every page.

Even as we accept the Financial Times words “The forecasts play down the risks of a no-deal Brexit, saying that it “would dampen economic growth, particularly in the UK but also in the EU27, though to a minor extent”“, the part that I see missing is that the UK economy will recover, the remaining EU27 players a lot less so, which is also why we have seen the fuelled anti-Brexit sentiment all over Europe, not because they lose what they call an ‘economic ally‘, but because their own mess becomes centre stage for everyone to watch soon thereafter.

The other part is that the Northern economies are seemingly slowing down, the Local Sweden gives us: “The Swedish economic boom has reached its peak and the economy is approaching a slowdown, the country’s Fiscal Policy Council wrote in its annual report“, I do not believe that to be correct, you see Ericsson is one of a few having a decent 5G solution, together with Nokia they are the only ones who have a decently advanced 5G solution, they are the only ones who are considered in several nations because those nations are narrow-minded and loudly anti Huawei, so these two profit to a larger degrees. When 3G was starting Nokia broke all records, these two will in similar drive 5G, even if there is a slowdown, it is likely to be a very short one, unless the US stops its Huawei smear policy, these two will propel the Nordic economies to a much larger degree.

So when I see Justine Greening, Sam Gyimah, Alistair Burt, all conservatives, all pushing for a Bremain, a second referendum, or some ill-conceived idea that Brexit needs to be acknowledged, the voters have all realised that it is too late, the EU wanted to keep on playing games and leaving the game at whatever point is to be preferred over more and more unacceptable spending.

Yet the one part that is not pushed for is that the Brexit Party and Ukip are approaching a majority, if they can strike a deal with the greens and the Liberal Democrats (they tend to be great followers), we see a new government with the Labor party and conservatives sitting next to one another in the opposition. A historic first, the entire House of Commons for too long in indecision and the people have had enough, I cannot blame them. So when they want to play the blame game, a lot of politicians merely need to look into a mirror to see the guilty party.

I personally belief that the people are seeing the dangers of non-decisions as well as the added media pressures with non-stop incriminations and a total lack of explanation; It is driving the ‘better out than in‘ mood that seems to be exploding all over the UK. The fact that sources are claiming that Brexit might not happen, or that there is a 20%-30% that it will not happen has the people riled, in the end there was a referendum and the complacent and lazy Bremainers were all in a stage ‘it will never happen’, just like that popular claim ‘too big to fail’, so as that went the wrong way the people have been hit with media after media going wild in allegations and all kinds of managed bad news reports like ‘we could lose everything‘, or ‘you’ll get nationally evicted‘, exponential levels of fear mongering for too long, the people are fed up and the Brexit party is gaining more and more momentum. In France far right Marine Le Pen is again in the lead, the Dutch ‘Forum for Democracy (FvD) party’ is equally pushing forward, is that the Europe that the UK wants to be part of? The extreme right parties are gaining momentum more and more and I personally believe that not having a handle on the ECB was a first step, then we still have Mario Draghi being a member of an elite banking group and the fact that no one was holding him to account is still a factor that the few are disregarding, whilst the 3 trillion of bad conceived spending was never up for debate.

There has been a mental delay with the voters, but the facts are out in the open for too much and the facts are too visible, it has angered the people, so as the news thought it was fun to give the readers the news through “The Hinduja brothers, Gopichand and Srichand, have reclaimed their crown as the UK’s wealthiest people, according to the annual Rich List survey. The Indian-born, London-based industrialists are estimated to be worth £22bn, up £1.35bn on last year’s list“, so yes that was a nice part, as the people cannot pay their bills, have to deal with unaffordable living, someone made an additional £1,335 million pounds extra, all that whilst we get “The list reveals that retailer Sir Philip Green has lost his billionaire status; his fortune is believed to have halved in a year because of a pension black hole in his Arcadia empire. The Sunday Times Rich List has Green’s total wealth free-falling £1.05bn in a year to £950m“, when I lose 50% of my wealth, I go from £1,500 to £750, so where is the ‘half’ and the mere decline of10% illustrating going from £1,05B to £950M? It seems to me that he wealthy people are taxed differently on fortunes having to be halved.

Are you still wondering whilst millions of Britons are in anger and are you wondering why the Brexit party is gaining momentum? Farage has the charisma to exploit the silly news items that are seemingly fun to read for some, but in light of all that has happened, it is infuriating a lot more people in the UK than the media should be happy about. And as we saw Tony Blair, yesterday in his opinion piece ‘Farage cannot be allowed to dictate Britain’s future. He must be thwarted‘ (at https://www.theguardian.com/commentisfree/2019/may/11/farage-cannot-be-allowed-to-dictate-britains-future-he-must-be-thwarted) we are given “This is not a vote to choose a prime minister or a government. It is a vote for the Farage Brexit – or against it“. There I respectfully disagree; it has gone way beyond that. It has been about the unacceptable acts of the ECB and the overpaid EU gravy train riders for a much longer time and if Tony Blair had done something about when he was in charge from 1997 to 2007, or perhaps Gordon Brown in the three years that followed, the mess would not be there, in that same light the Conservatives after that did not achieve any significant push to make the ECB come to its senses, and now the people have had enough; they are willing to let Nigel Farage try. Tony should have done a few more things a decade ago and that was never the case. That is why the Brexit party is growing to the degree it is. The lack of kept promises, and the Italian government is merely throwing petrol on that fire, as such the Dutch are finding a person like Thierry Baudet more acceptable than ever before. A status quo play was the worst one to have, but the non-elected officials needed status quo for their wealth and now the gig is up in more than one way.

Tony Blair needs to realise that the Brexit party is not the downfall for either the Labor party or the Conservatives, facilitating to big business was and that is an important elements that none are touching on, the bulk of the politicians are tainted, tainted to the degree that they will stand out in every limelight and their denial in that is just staggering.

The mental delay has passed and now the people are in a phase where they are considering every other solution, except the ones that labour and conservatives offer. It is interesting that no one went on those tracks, the signals and indicators are clearly pushing in that direction.

 

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Too grim a reality

It is not a new concept, it is not even original. My first introduction to the concept of mass executions was in a Star Trek Episode of 1966, ‘The Conscience of the King‘, the story about Kodos “the Executioner”. The backstory was: “In 2246, an exotic fungus destroyed most of the colony’s food supply, and its inhabitants, of which there were eight thousand, faced starvation. Kodos, implementing his own theories of eugenics, selected four thousand of the colony’s residents to be put to death, so that the remaining four thousand might survive on the limited food supplies available“, so when we were introduced to Infinity War and Thanos, the scope changed but the premise did not. This is not an attack on Marvel in any way, the idea existed and that is not an issue. Yet the reality we face is actually a lot grimmer. It is a lot more dangerous, because in my view Thanos was an optimist. At this point we (due to political inaction), we might have to cull 97% of the human race.

Scary is it not?

To see this, we need to take a look at the guardian. The article (at https://www.theguardian.com/australia-news/2019/may/08/un-environment-report-how-australias-political-parties-plan-to-respond-to-the-crisis) gives us: ‘experts rate Australian political response to extinction crisis‘ and that is where the problem starts, politicians are there to cater to big business (for the most) and this is not in the interest of big business. Politicians have a long standing history of not doing the right thing and not putting their foot down, so inaction remains for now the best we can hope for.

So where is the problem?

The responses give a much larger issue that they have been ignoring. When we see: “review but keep existing environment laws; a $100m environment restoration fund to clean up coasts and waterways, protect threatened species and reduce waste; $189m over four years for the “direct action” climate solutions fund, in part for revegetation of degraded land” reads like an absolute joke.

For this we merely need to look at the Adani Carmichael mine. ABC reported: “The CSIRO and Geoscience Australia said the modelling used by Adani was “not suitable”, and also cast doubt over the company’s plans to protect important environments. “A number of limitations were also identified in the proposed monitoring and management approaches, indicating they are not sufficiently robust to monitor and minimise impacts to protected environments,” the agencies’ report said.” Even when we consider “Boost early warning monitoring systems between the mine and the nearby Doongmabulla Springs wetland“, as well as “Respond immediately to any unexpected groundwater impact“, when it happens it will be too late and the impact damage will have been done and finish it for generations. There is more; I wrote about it in January 2018, in the article ‘Vision or imagination‘ (at https://lawlordtobe.com/2018/01/13/vision-or-imagination/) I looked at the Guardian, as well as the Cairns Post where we see “During a recent patrol blitz during the Christmas-New Year period, GBRMPA and partner agencies detected 41 instances of people fishing in the wrong zones, including no-take areas“, unless we change the rules where ANY transgressor gets their boat impounded and auctioned off for repairs of the Great Barrier Reef, this degradation will continue. In a setting where there is coral bleaching to any degree in 93% of the reef is a stage where we need to act differently, or we impose draconian laws to protect the reef, or we cull 97% of the population, I will let you decide, yet remember, politicians are all about promises and discussion, but they lack the balls to act or enforce. It makes for a better case to reduce the population (and resolve affordable housing at the same time).

It is even worse than you think

For that we need to see the words of Melissa Price, the environment minister. Her idea of: “investing in the protection of our native species and their habitats. We are investing billions of dollars to deliver a cleaner environment“, I have no idea what drugs she is on, but I would love to sample them as they are truly psychedelic in nature. You merely need to look at the impact of Cyclone Debbie and “Adani has been fighting to hide details of what it told the Queensland Government about the risk of pollution to the Great Barrier Reef ahead of Cyclone Debbie in 2017” (at https://www.abc.net.au/news/2018-08-10/adani-spent-a-year-trying-to-hide-reef-spill-details/10090632). So when we see: ““Just give me a little detail and we can include and update [the temporary emissions licence],” a department staff member replied“, as well as “Adani admitted to breaching its licence, spilling polluted water into the Marine Park that was 800 per cent dirtier than was allowed” my case is pretty much made. With the apology if I sound too sexist, listening to Melissa Price and reflecting on ‘the protection of our native species and their habitats‘, I feel like I am reading a debate where a vibrator is defining the need of income for the service of any huhu where that owner shows it owns the vibrator it bought (a real graphic an none personal analogy).

So when I read in the article the response from Adani giving us: “We have elected to have the matter heard by a magistrate rather than pay a $12,000 fine, which should not have been issued in 2017 following Cyclone Debbie, and we look forward to resolution of the matter.

A $12,000 fine? Are you out of your fucking minds (I apologise; emotions got the better of me at this point)? In the end, we see that last month Adani paid the $13,055 (according to various sources) and the laughable failure of this shows just how massively the environment department failed Queensland, failed the Australian people and how it failed the environment. In light of such transgressions, in light of the utter failure what is laughingly referred to as: ‘The Environment Department‘ a clear case could be made to cull the population by 97%, CEO’s, CFO’s and politicians get to be at the front of that line.

Oh, and before you think this is me against Adani, you are wrong, Adani is merely one of the more visible examples from a list that includes hundreds of transgressors and the Australian Environment department is merely one of many that has been unable to protect the environment and truly pressure fines that start in the high millions and optionally demand and exercise a right of closure of plants who make these kinds of errors, yet that was not what this was about, merely a symptom of a much larger problem.

It is not much better on the other side of the isle. Even as we see what I regard to be labor party puppets giving us the blame game (like Tony Burke), we see “It is now clear we are on the pathway to a million extinctions, we are potentially facing the sixth mass extinction in the history of the planet [and] Australia remains the extinction capital of the world. This reinforces the need for Labor’s comprehensive policy agenda to fight extinction“, just like other Labor party sided members (like Jeremy Corbyn). We see part of this in “The Greens were “deeply concerned that Labor has taken a weaker climate policy in 2019 than what they proposed in 2016, which was weaker still than what they took to the 2013 election”“, it is not all a given, but the facts are there. Even as this is more a tug between Di Natale and Bill Shorten, the issue is that they are all weak on the environment, because there is too much debt, too little work and for the most politicians have a track record of letting big business walk all over them, so a billionaire family like Adani and several others do not consider Australian politicians to be any more of the loud windbags than the politicians in America and they made an equal disastrous mess of it all.

If we go by the Conversation (at http://theconversation.com/shorten-distances-himself-from-green-overtures-on-climate-policy-116360) we see: “The decision for Bill Shorten is whether he follows the take-it-or-leave-it approach of Kevin Rudd in 2009, or negotiates with the Greens, just like Julia Gillard did in 2011, to deliver a climate policy that gives future generations a chance“, yet what we should see is: “Whomever gets elected has only this term to act, or the final approaching certainty that there will not be any future generations will become a slow but certain given“.

They all talk some talk, not the talks and NONE are willing to start increase fines by no less than 15,000% as well as mandatory closing of no less than 15 months of whatever plant makes the transgressions. In addition, the entire response of ““Just give me a little detail and we can include and update [the temporary emissions licence],” a department staff member replied” need to be met with draconian changes to the employment of whomever made that ‘little’ short-sighted consideration. The time to be nice has been over for well over a generation and the political players need to openly acknowledge that, as well as underwrite whatever law changes are required.

Any response of ‘but Adani will walk away‘ should be regarded as null and void, in the end if there is money, they will come, we need to stop facilitating to large corporations and truly change the way we do business and change the way that they are allowed to do business. The failure is seen when we look at Apple (perhaps the clearest example), when we see: “Revenue was up nearly 13 percent hitting $9.1 billion, compared to $8 billion in 2017“, yet we also get: “With bigger revenue comes a bigger tax bill. Apple incurred a tax bill of $164.1 million for the year, comprised of $127 million in income tax, a $30 million tax adjustment related to prior years and another deferred tax income expense of $7.3 million“, this implies that Apple pays a mere 1%, how will you fund any program for any environment when large corporations vulture entire nations? And when we see the Australian Financial Review (at https://www.afr.com/news/politics/national/uber-in-labor-s-sights-in-multinational-tax-crackdown-20190505-p51k9n) with the smug response “the Tax Institute of Australia warned about extra regulation for multinationals, saying it could discourage companies from setting up operations here“, my clear (and slightly less diplomatic) response would be: “Oh, please let them fuck off! When they lose 20 million customers in Australia and an optional 68 million customers in the UK they will lose more and more, more market share and all the momentum they had!

Facilitating to big business is one of the main reasons we see a loss of environment and biodiversity in the first place. That evidence is shown to some degree by American documentary maker Sue Williams. She gives us (at https://www.abc.net.au/news/2016-09-09/environmental-impact-of-the-iphone/7825360) in 2016: “more than 50 million tonnes of e-waste will be generated this year alone“, with the added: “this ends up in China, India and Africa, the devices were then broken down in unsafe ways where toxic chemicals end up in the water and air.” It shows a much larger issue and even as Australia might not be the place of the largest transgressions, we see that Australia has failed its people and environment in the most total way possible at present.

I wonder if the people will ever vote for the parties that truly are out there trying to set up proper laws to protect the environment, when that happens we will see a rush of panic from anyone riding some sort of gravy train, I merely expect it will be too late at that point.

So, even as we wonder on Marvel and its success, we should also consider that Thanos was an optimist; removing 50% of the population will no longer get it done. When you realise that actual truth, will you ignore it or actually demand change before you have to sacrifice the life of one or more of your children? You might laugh at this as it is not realistic, and it might not be in this generation, but that setting is not a given for THEIR children, not merely because the population will surpass 8 billion within the year, but the fact that when their children are born our population will surpass 9.5 billion, it will be too late at that point. Oh, and when we all accept the compromise to put in place the Chinese one child policy on a global scale, what excuses will nations offer when that policy is breached? Humanitarian reasons perhaps?

Should you think that this is some new revelation, think again! Especially when you consider the dangers that the movie Koyaanisqatsi (life out of balance) showed in 1982, almost 37 years ago. The mere realisation of what the city of New York needed to feed its masses (overfeed its masses more accurately), and we see that the matter got worse, the inaction of politicians globally makes even less sense.

I merely wonder what excuse the politicians give, and who they blame when the collapse biodiversity is at our front door awaiting the label ‘extinct now‘. As we get reports upon reports and denials from its opposition, we need to take heed of the inaction on acts like overfishing and poaching, clear criminal acts that have little or no punishment, when truth comes to bare, remember that any elected politician after 1983 is directly responsible for the mess we see today. The entire push it forward is not to be regarded as a defence, or as an optional response. In my view there is no ‘I was not involved in that decision‘ it will be on their names and the names of their prodigy. If you doubt that, look into history on what the people did in anger to those called: ‘German Girls‘, Women from the Netherlands, France, Norway, Spain, Italy, Greece and a few other places; women who fell in love, had a flirt or for mere survival reasons got attached by a German soldier. They were according to records: “Women who married German soldiers and their children were stripped of their citizenship, interned and deported to Germany. Many of the offspring who remained were abused, attacked and confined to mental institutions because of their parentage. As well as the French part where about 20,000 women accused of sleeping with the enemy had their heads shaved; others were covered in tar, physically assaulted, stoned, spat upon and shunned. As many as 6,000 people considered collaborators, including many women, were killed“, when you read that part, will these people proclaim innocence, state some defence that ‘we’ are better than that now and demand safety for their children? I don’t think you comprehend the masses when it is enraged, these people will all be out of options, and let’s face it, when the big environmental disasters start hitting, the groups of soldiers and police and fire brigades will all be hit with other first casualties, and they will not be much of any protection for these exulted high earners. WW2 was perhaps the foulest example in history, yet it will be nothing when the biodiversity collapses under the pressure of pollution and too large a population, the political inaction will enrage billions on a global scale.

So even as we laugh at the silver screen and Thanos snapping its finger, we are getting to a place where we get to see the infrastructure and resources collapsing, and there will be someone pointing a finger at the politicians, at that point what will that person do? Will he (or she) become a version of 1966 Kodos the destroyer? Will he/she (too late) invoke draconian laws to undo the presented damage, whilst they know it was already too late?

I cannot tell, but I can tell that we are at the end of our ropes to instigate a solution, too many species have become extinct, we did allow our natural biodiversity be permanently affected to that degree.

I am however also aware that there is opposition to my view, one blogger gives a really good setting (at https://conservationbytes.com/2014/03/17/if-biodiversity-is-so-important-why-is-europe-not-languishing/), the blogger is  CJA Bradshaw and he gives another version, a less pessimistic version (in 2014 mind you), I do not agree, but I will not dismiss this view as it is well phrased, well written and gives good examples. He gives at this point a realistic view, yet at the end of this, we will be growing towards a population of 10 billion and there is a limit to what we can get from an acre of agrarian land, knowing that the planet is 30% land and the stage that the population that land supports went from 6.6 to 7.9 billion in a decade gives us a 19% growth in a stage where the growth of land is set to 0%, actually, that is wrong, some scientist claim (I use claim as I never delved into that data) that land capable of being ploughed and used to grow crops (arable land) decreased by almost 30% due to erosion and pollution, so not only are there more people, there is less place to grow their food, and that is actually really important. So as we create more land for crops, the ‘wild lands’ where the animals roam decreases more and more. To see additional dangers, we need to look towards places like Borneo lost in the time between 1985 and 2005 an average of 850,000 hectares of forest every year. If this trend continues, forest cover will drop to less than a third by 2020, so by next year Borneo and all the oxygen producing forests is merely a third of what it was, whilst the population grows and grows, is anyone worried about breathing yet? The same is happening in the Amazon region, the two largest oxygen producing areas gone to the largest degree. At what point will anyone realise that oxygen tends to be an essential need?

All unattended issues and we are actually running out of time, so who is willing in the end to snap their fingers Thanos style?

 

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Electing Stupid People?

It was the first thought that I had when I got confronted with ‘ECB Injects More Stimulus as Draghi Reveals Slashed Forecasts‘, trillion upon trillion added in debt and none of it worked, the Europeans merely added 3 trillion in debt and they have nothing to show for it. The ECB has become a clear and present danger to the quality of life of Europeans. At present every European should consider that they have an added €5,859 of debt that they have to pay, so in a family of 4 that amounts to €23,437 with the optional €156 of interest every month. A setting where we see that close to 53% cannot make that payment, so that is merely the interest with no chance of ever paying the actual debt. A debt that was a bad idea and has been a bad idea for over 4 years and still the ECB does whatever makes themselves and their friends rich. No accountability for their actions, no transparency and no way to undo the damage they push unto others. Still people ask me why I am a Brexit person. The acts of the ECB are a clear indication that the EU has failed its people to the largest extent.

So as Bloomberg gives us “But bank stocks dropped as the new loans will have less favorable terms than the ECB’s previous operation. There may also be concern about the ECB’s gloomy prognosis for the economy and the limited ammunition it has left if things worsen“, I merely see that what I mentioned in my blog for over 2 years is becoming a reality. the article (at https://www.bloomberg.com/news/articles/2019-03-07/draghi-slashes-ecb-outlook-as-officials-inject-more-stimulus) also gives us “The ECB is reverting to more monetary support just three months after policy makers decided to end their bond-buying program and hoped to start weaning the euro-area economy off its crisis-era stimulus. The export-dependent European economy buckled under the weight of trade tensions, a slowdown in China and the uncertainties around Brexit.” This is making matters worse. You see the stage of ‘the uncertainties around Brexit‘ is one that the ECB gunned for trying desperately to keep the UK in and the actions of the ECB are pushing the UK away. Yes I agree that matters will become worse, yet only for the short term, the UK will over time rise faster and faster whilst the economies of France and Germany will become more and more stagnant towards facilitating to the other 23 players, as they are merely there to get an unrealistic economy and the loans that go with it. When I speculate, I come to the conclusion that Austria will get an expected debt that equals their GDP of 83% by 2021, Belgium is racing towards 108%, optionally by November 2020, Italy is likely to be at 135% by then, Spain is actually doing well, but it will not continue, if they are really lucky they will remain steady at 97%, France will climb to 99.2% and those nations are adding trillions more debt, because the ECB is not kept in check. that is the Europe that Europe is steering to and no one is asking the serious questions on how retirements will falter before 2028, the cost of living no longer realistic and there is no way to keep any economy in check because tee was never any real stage to keep it in check, with merely the impossibility to cast members out. Greece has a chain around its neck that will soon surpass the current debt level of 179% of GDP. So whilst ABC News over sells it with “Provisional data released Thursday show the economy grew 1.9 percent in 2018, down from a 2.1 percent estimate by the government, but closer to the European Commission forecast of 2 percent“, all whilst Greek Industrial news gives us: ‘Greek Economy Loses Steam in Q4, Recovery on Course‘, which might be really true as summer is coming for Greece so from that we accept that the Greek economy numbers will fluctuate positively. And those travelling to Greece tend to see a Greek alternative location, not an alternative country which is great for Greece but the overall numbers are merely positive, not overly positive. The weather has been part of that. There has been a tendency for people in Europe to select less foreign destinations for their vacations, especially the Netherlands and Belgium. This part is not the most important art, yet it still matters. If one nation is off by 0.1% we see an impact, however it is Germany where the economic slowdown is the most visible, and from the past people in Germany get cautious really fast, the 2013 smash down taught them that the hard way. It would impact Spanish tourism by a fair bit. For France we see a similar impact but less in tourism, for them the game changes in other ways and it impacts the EU as well. French RFI reported that the OECD gave “Italy is likely to go into recession. France comes out well, relatively speaking, with 1.3 percent, exactly half the likely growth rate for the US economy“. I personally have some serious doubts on those numbers. If France ends up with 1.1% they would be lucky, as we already have a debate on 0.2%, nation after nations have ‘recovery’ idea’s and not one is staged in any rock solid situation, it is all fluid and most of them hide behind ‘Brexit uncertainty‘ whilst they are all desperate to see Brexit fail before it becomes a reality, their economies will all take a massive hit, even the UK however, the UK once out will be able to push forward momentum just for the UK not for the dozen members hanging on the coattails of the UK. That was the truth that the ECB and the EU commissions are so desperate to hide. The UK residents get fear mongering story, one after another. How there will be no toilet rolls, how things collapse and how values are soon gone. Yet the direct impact is ignored. Once out the UK can determine for the UK again, not have an usurper player setting policy.

For clarity: a usurper is a person who takes a position of power or importance illegally or by force. It does not seem to apply to the ECB, yet how are they setting policy that is pushing the Europeans into debt by trillions, even after the second stage where it did not impact the economy in a positive way? The moment it was switched off, the EU economy is showing to buckle, so how is such a stimulus ever going to be a solution?

When we see “offering banks cheap loans to try to help revive the economy“, well from my point of view, a plan to revive that has been going on for four years is not a plan to revive, it is a vegetation form of life that is being kept alive artificially, as it would have been dead for some time under any other condition. It is merely facilitating for large invoices on a cadaver that no longer has the ability to self-determine its life. And in this case the ECB is really ready to facilitate large invoices, the question becomes who gets that cash, the people of the EU merely get to pay the bill and there are questions that are not getting answered by anyone, giving us a much larger problem. Are people this stupid allowed to be elected into such powerful positions?

You tell me, because from my point of view it does not make sense, and it never did, not past 2015 anyway. It is one part that is wrong; we see even more when we give regards to the issues shown by the Guardian (at https://www.theguardian.com/business/2019/mar/07/ecb-to-keep-interest-rates-low-recession-fears-eurozone-banks). With: “The central bank for the 19 euro nations said it would launch a series of targeted, long-term refinancing operations (TLTROs) in September. These are to run until March 2021 to help banks roll over €720bn (£617bn) of ECB loans and to ward off a credit squeeze that could deepen the economic slowdown” we see a situation that could optionally be interpreted as: “we predict that we cannot pay the outstanding loan of €720 billion, so we are creating a new loan to pay the old loan. We will not mention that as our economic position is not as good, so the fact that this will come at a higher interest is something we will have to accept“, a danger I saw coming a mile away well before 2017. Greece was the most visible one, but not the only one, Italy is in a similar position with its 131% of GDP debt and it will go from bad to worse. With a current predicted debt of €2,526,450,000,000 its interest responsibility is beyond horrendous and that too is swept under the carpet. When we see these acts of stupidity and irresponsibility the Europeans do not have a clear prospect, they basically have seemingly no prospect at all. At present every EU nation will denounce my view, yet what will they say in 2024 when I am proven correct? What happens to the people born between 1956 and 1960 when they look at their pensions and see that they really cannot afford being alive having to pay their bills on what is left? What excuses will their governments and the ECB give them when these people get to hear: ‘OOPS!‘ The chaos that comes with it will be one we get to remember for generations. It will be the moment where all over Europe the life of a Ministry of Pensions official will have a speculated shorter lifespan than that of a crack addict overdosing.

It is all merely part of a larger issue, even as Reuters gives us less than 24 hours ago ‘German industrial orders post strongest drop in seven months‘, we forget that this also impacts shipping numbers, the Dutch harbour revenues, in addition the “Contracts for goods ‘Made in Germany’ were down by 2.6 percent on the month, Economy Ministry data showed on Friday, marking their steepest fall since June 2018 and confounding forecasts for a 0.5 percent increase” gives rise to questions. We accept that we cannot predict increases and decreases to some degree, yet the stage of +0.5% against a 2.6% drop is quite another matter. I also had an issue with: “The Federal Statistics Office put the revision down to large orders for December being reported late“. I am not stating that they were misreporting to us, yet the question on the validity and quality of their forecasting pipeline shows to be more than a mere glitch, it shows that elements are either ignored or not properly doused in awareness. I am not sure which of the two is more dangerous, as the faltering positivity could also give rise to an increased risk of negated negativity through managed unawareness. I do not believe that either form exists by itself. I have accused some of orchestrated reporting through delayed bad news. I personally believe that this is a much larger problem in the EU, and it needs to be addressed really soon and to a much larger degree than it ever was. For that we need to make one final jump. It was last year September when Forbes gave us (at https://www.forbes.com/sites/michaelfoster/2018/09/29/bernankes-2020-prediction-is-dead-wrong/#3132f00c4df5) “Something strange is happening in the investment-bank and hedge-fund world: a growing sense that the next recession (which, by the way, Wall Street has long been wrongly predicting for years) finally has a due date: 2020“. By itself it is not really an issue in any way shape or form. We have all seen these predictions, all based on actual numbers before. I made a similar prediction before Forbes got there (yay me), yet when we see: “the likelihood of a 2020 recession has risen due to, among other things, a tight labour market and higher borrowing costs“, as well as “former Federal Reserve Chairman Ben Bernanke is getting in on the act, saying a boom “is going to hit the economy in a big way this year and next year. Then in 2020, Wile E. Coyote is going to go off the cliff“, we see a lot of it coming to fruition at present and still the ECB pushes forward? We understand that this should be about actual data and not predictions, yet the numbers have been towards the negative for some time now and pushing for more stimuli whilst there is enough data to see it as folly to become reality is another matter entirely. There is a play handed out to players, whilst whomever owns the bank is seeing exactly which player has which card and the players are kept in the dark that the banks have camera’s looking over the shoulder of every player, which indicates that the banks can decide at any moment to sell short the play made by any player. It is great to be told that you can bluff, whilst the bank gets to see the cards all the players have. So the bank decides to set a stimulus play whilst they know that all players have losing hands, how does that go over with the players in the room?

And we allow these banks to be elected to set the stage as such in the first place?

 

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The next wave

We have seen the waves; we have seen the mention and the messages. According to President Trump ISIS has been defeated, the easiest counter is: ‘Really? How?‘ In these theatres of war the setting of defeat is not easily established. In my personal view the stage for defeat when they are all dead. ISIS does not adhere to government policy, it does not accept established articles of war and these people go on until they draw breath no more. It gets to be worse than this. According to one (not the most reliable source) we get: ‘ISIS terrorists flee with $200 million in cash‘, the issue is not merely the money; it is what it enabled to be done. We know that the ISIS fighters scrammed like a load of roaches into every direction they could. Now consider that even after 36 years, I could cripple infrastructures in the Netherlands, the UK, Belgium, France, Germany, Denmark and Sweden with less than 10% of these funds, so how much damage could lone wolves do in these nations when that money get cryptoed (a crypto currency tip toe event) and softly spread over these lone wolves? How much damage does Europe have to look forward to? How much funding for attacks on Israel comes next? With optional weapons via Ukraine, explosives via Germany and Sweden, as well as drugs and chemicals? The war with ISIS is far from over, yet now that the US is pulling back, now that gaps are appearing all over the place, how long until that money is spread all over the map inciting attacks in too many places to properly police?

And that is before you realise that most nations are lacking in getting any level of result in fighting these lone wolves. Some are too badly trained and often intentionally to make sure that the intelligence arrogance remains, yet the dozen of operatives that have been working in the dark will be able to strike and with or without that boatload of cash, we need to consider other sources. We start with the Independent who gave us ‘Jim Matthews was prosecuted for fighting with a group backed by the British military‘, a person prosecuted for fighting ISIS in Syria. Now we can argue that what was done had to be done by the law and by the standard of non-combatants acting in a theatre of war (no matter what side they were on), to some degree it makes sense. Yet in that light the quote “Terror “preparation” offences have been used to prosecute foreign fighters as well as terror plotters in the UK” could be considered in another light. Whilst the law focusses on those they recognise and flag as optional targets for prosecution, there are hundreds of people that never made the limelight and as such will go undetected. For this we use the Toronto Sun, where we saw: “When Canadians heard Abu Huzaifa al-Kanadi describe how he killed and executed people on a New York Times podcast, they were outraged. Why was this man from the Toronto area not behind bars?” With the addition “Abu Huzaifa al-Kanadi was already known to police and they hadn’t charged him. Not because he had recanted what he told the Times podcast Caliphate but because like almost all of the other returning ISIS fighters, police were not able to collect the kind of evidence needed to convict in a court of law“, now we know that Canadians are only hard in the ice rink and beyond that socially a little soft, but to see this and consider that under the laws there is a lager mess all over Europe, how much anger is Europe in? These people are not beyond identity fraud and even as the Dutch have their A-game in place, the same cannot be said for scores of places like Poland, Czech Republic, Germany, Romania, Hungary and even Sweden has a few flaws in place. All nations where entry into Europe becomes an open playground, that is the ISIS setting we have to fear, a fear that is not going away and will become more and more real soon enough. Even as we see the mention of the events in France a year ago regarding Redouane Lakdim, I believe that the Independent was right (at https://www.independent.co.uk/news/world/europe/isis-europe-terror-attacks-france-shooting-uk-france-terrorist-groups-islamist-danger-a8270941.html) with “the attack in the Carcassonne region by a single gunman, said to be a Moroccan petty criminal from the area, proves very little about the strength of Isis as a continuing threat“, for the most they are right, yet the push to prosecute 800 European ISIS fighters in Europe is a debatable wisdom, the danger that another 100 arrive in Europe unnoticed and they start their ‘consideration’ using $200 million is not without risk, moreover when some of the 800 avoid prosecution, or even are prosecuted to remain under house arrest, or low level security incarceration, only to disappear a few weeks later is a larger risk than most consider. We might think that it is going towards ‘Suicide attack in Afghan capital kills at least 31 people during Persian New Year‘, an event like that in Europe would be very visible, yet that is not the danger that Europe faces. The larger dangers are the explosives that cripple energy in places like Leverkusen, Dusseldorf, Lopik, the Vattenfall energy locations, attacks that cripple European infrastructure for more than a few days. Not the 31 bodies but an infrastructure that impacts quality of life and national economies is the danger the Europeans are not ready for. Their infrastructure is not ready, their manpower is insufficient and ISIS only needs to get it right once, after that any subsequent success will impact Europeans more and more. That was forever the danger Europe faced. Even as I wrote about it on February 17th (at https://lawlordtobe.com/2019/02/17/two-sides-of-currency/) in my article ‘Two sides of currency‘, where I wrote: “there would be a massive security concern in Europe, the fact that we now see ‘the focus has been on trying to raise standards in the swift sharing of information‘ is evidence that the EU has been sitting on their hands for too long a time“, a failure on immigration data, the issue of well over 500,000 refugees and no verifiable data whether they are real refugees or ISIS refugees relocating to better shores. The fat that this failure is there and has been thee for over 6 years is a much larger concern and most nations are too underfunded and too shallow to do something about it, their data systems inferior, their collected data unshared and all of it with a lack of verification. That is what several EU states face and now as we are confronted that 200 million has gone walkabout with ISIS fighter, do you still think that there is little to worry about?

The fact that only last October we were faced with: “Greece is taking urgent action to tackle Islamist extremists who have infiltrated a large refugee camp on Lesbos and are alleged to be coercing migrants into joining Islamic State“, proves me right. The only matter is if one got found out, how many were not? There is actually no way to tell, but any politician claiming that there is no issue is too much of a security hazard to be taken seriously. There are a whole host of reasons on why nothing has happened yet, but the largest danger is not whether they will strike, but will we be able to stop it when they do? The danger of 6 years of inaction on almost every side is also a danger that complacency might have set in long ago, there is however no way too tell if it was already too late, with the dispersal of ISIS a new age starts and it is one where lone wolves optionally get to make a name for themselves causing all kinds of new clusters of self-proclaimed jihadists and we have no way to determine the dangers, yet what is a real danger is 200 million out in the open. The amount of goods and people that it buys, especially in this day and age is a little too much unsettling.

We can only wait and see the impact, for those not in that battle, we can only remain observant and wait when it happens. Europe is a little too large and 800 people can remain unnoticed for too long a time, especially in this day and age.

 

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Two sides of currency

There was more news yesterday. The article that gave me the previous view has been updated with a new one (at https://www.theguardian.com/uk-news/2019/feb/16/shamima-begum-isis-extremism-expert-criticises-sajid-javid). At the foundation of it is the view of Hanif Qadir, CEO of the Active Change Foundation. I disagree with him on a few levels. Now before I begin, we need to look at his ‘resume’, this is important in this case. As such we see: “Hanif once joined Al Qaeda members in Afghanistan, but was deterred by the crimes he saw being committed against civilians and turned his back on them. Upon his return to the UK, he vowed to safeguard young men and women from similar experiences, losing their lives and harming their communities. Having a unique understanding and hard-won experience of the modus operandi of Al Qaeda / ISIS inspired groups and individuals, he is now recognized as arguably the best violent extremist and de-radicalization expert in Europe“, the important part is that he knows the game, he knows what is at stake, yet I still disagree.

When we see: “Hanif Qadir said Sajid Javid’s reaction to the teenager’s predicament fed the narrative of Isis. On Friday Javid said he “would not hesitate” to prevent the return of UK Isis recruits, an approach at odds with Begum’s family in Bethnal Green, east London, who want the 19-year-old to return home “as a matter of urgency”“, I am with Javid on this. In addition there is: “Javid is fuelling the [Isis] narrative and giving wind to the sails of other extremists. If we continue with this trajectory we’ll be sowing the narrative for them to reap and use against us“, it is a fair enough view to have, but that is the setting when all was ‘well’ with ISIS, ISIL, Al Qaeda and such. This is no longer the case. They are not defeated, that much is certain, yet the world is very aware on how desperate they have become. The next part we see is: “If the government doesn’t change their approach to this, we potentially have a second wave of Isis coming, the connecting up and reloading of Isis, fence-sitters who are more sympathetic to another kind of narrative” and finally we get: “Baroness Sal Brinton, president of the Lib Dems, who described Begum’s radicalisation as a form of grooming. “We know that in that particular school three girls went [to join Islamic State], but probably more were approached. Surely our child protection laws have to kick in. As she returns we should look at what happens, as she was 15, and what happened out there“. I think that the cure is much simpler. It is called targeted killing, it is a simple path; if Shamima Begum wants back she has to earn this. As the Baroness points out (a little clumsy) we understand that there was grooming, we know that there was a stage, the fact that 15 year old girls got to fly to Turkey, had access to her passport, got to travel via smugglers, into Syria implies that they have optional intelligence value. It is the price for life, plain and simple. The message needs to be clear and without any level of reservation. Those who embrace terrorism will be hunted down and put to death. The European governments have a clear responsibility to its citizens. And here we see a clear field where we do not negotiate with terrorists. There cannot be a stage of some level of ‘biased’ mercy. People like Shamima Begum will optionally open options for ISIS and become the second wave. It is almost damned if they do and damned if they don’t, in this case the setting of not allowing them back, or merely long term imprisoned might be the safest route in all this.

And again we see the failing of the EU. when we see: “In Brussels the focus has been on trying to raise standards in the swift sharing of information among EU member states, and its dissemination to border databases should there be an uncontrolled wave of returnees“, we think that we are seeing something novel, yet the dangers had been shown since 2012. One year after the Syrian war there was a massive drive of refugees. In December 2012 the number of refugee’s trying to find alternative living had surpassed 500,000. At that point there was the already growing concern that if only 0.1% was ISIS minded, there would be a massive security concern in Europe, the fact that we now see ‘the focus has been on trying to raise standards in the swift sharing of information‘ is evidence that the EU has been sitting on their hands for too long a time, whilst those sitting on their hands remained to be well paid, and you still think Brexit is a bad idea? The intelligence failing in Europe had taken monumental proportions in 2014 as the Greek-Turkish events took a larger stage. Merely 4 years and as it seemingly shows, not actual quality improvement. That is the danger that the UK faces as an Island and ISIS is too large a problem to ignore, whether they get defeated or not, the timeline shows that splinter groups will form and they will take a slow silent step hoping that governments will fall asleep again, people like Shamima Begum will assist in making that happen. So when I see: “Although Begum is likely to be traumatised, Qadir said that if she received the right mentoring, counselling and passed through the necessary security protocols, she could be successfully rehabilitated“, I see a failing in the making. At this point I completely disagree with Hanif Qadir. Only the ego driven and their need for justification will give us the story that they can rehabilitate her. There are too many pressure points for Shamima Begum. At some point some radicalised person will find a way to blame the Europeans and Americans for the loss of her two children and the cloud of terror will be on route to disaster. In addition, she will need to be monitored 24:7 for years to come, if her family failed her once, it will do so again. She will play nice the first 18 months, yet at some point, she will be ‘woken up’ and that is when the problem starts. It is amazing how people cannot learn that lesson. They seem to focus on 9/11, focus on Syria and forget about the sarin attacks (in Syria), they focus on events that the media exploded on mental health cases like Sydney Martin Place, and forget the Charlie Hebdo shooting of January 2015 to a much larger degree. Two people, Saïd and Chérif Kouachi were able to kill 12 and injure 11. What is the damage when 6-8 start having fun with a Belgium FN MAG? Consider that I could with decent ammo, set the stage for a (800 m – 1,200 m) slaughter spree in London, and consider what would not be in range on that distance? It is a direct option for hundreds of deaths in the shortest time. Now consider the impact on tourism and economy if 6-8 did that. I used this example as it is relatively easy to get a hold of one in India, Egypt, and China. Consider that ISIS still has a logistic system in place and until it is utterly destroyed weapons like that can make it into Europe a lot easier than you think. Now consider that one attack will impact a little yet 3-4 events will massively upset all lives. If you doubt that, consider how long France needed to keep its soldiers in the street, merely to make the people feel safer. Consider that impact in London, Amsterdam, Manchester and Birmingham. It will end up doing a lot more than merely spook Europeans.

If a tiger gets out of the zoo, you would like to catch it, when 3 run amok you either consider the death of the visitors, or shoot to kill as soon as you can. We would all like to hide behind the tranquiliser gun, but when there is more than one, the danger of mass carnage becomes a little too large for comfort. You can do this exercise yourself. When you are in a zoo (any zoo that has a tiger), consider three tigers to get out, how much time will you get to get yourself and optionally your children safe, actually safe? How many will not make it? Try doing it on a summer day when the zoo is filled with children on school excursions. How many do you expect to die?

That is the actual situation, yet the area is not a zoo, it is a city filled with people and the members of ISIS are in their stage of ‘doing the will of Allah‘ in the end being nothing more than rabid animals. They will kill indiscriminately. We sometimes look back to videos like https://www.youtube.com/watch?v=LItKd2VE-NE, yet these are seemingly the most humane ones. Sources filter the video’s away as soon as they can (which we understand completely) and as such we have no reference just how inhumane the actions of these terrorists are, and as the spoof video’s come (like https://www.youtube.com/watch?v=Momc2e1wHG8) we end up merely persuading ourselves that it is all a joke, yet it is not. The problem is when it happens, the moment you get the real deal the first thing you will do is blame someone else, it was their fault. It is not, you will be just as much to blame as anyone else. So when we consider: “Ferdinand Grapperhaus, recently braved the critics by revealing that the government was cooperating with local authorities in Syria for the return of women accused of Isis membership and their children, and if this woman is shown to be involved with ISIS in any capacity, at that point will you blame Ferdinand Grapperhaus for allowing this to happen, or will you blame yourself for getting him elected? The problem is that until something happens there is no issue, it is the hidden trap. In my personal opinion, anyone who sided with ISIS remains a danger, to others and optionally to themselves as well. Normally we have systems in place, when someone is a mental health problem we have procedures, we have support systems in place. When they actively engage with ISIS, ISIL and Al Qaeda in the attack on others, either directly on the front lines or in support functions behind the lines, we have nothing and weirdly enough, it is the ISIS support people that become the larger problem down the line, they can really rack up the damage in whatever nation they end up living in.

That is the currency we all forget, that is the danger we allow others to be confronted with and that is why I am in opposition of Hanif Qadir and Baroness Sal Brinton.

Have a great Sunday

 

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Updates

First of all

So whilst Microsoft is trying to rephrase their weak position through: ‘We are continuing to look at engagement as our key metric for success and are no longer reporting on total console sales‘, yes try to sell that whilst you have been all aggro on boasting boosted numbers for decades. Now that Xbox is about to become the number THREE system, they are running scared. The Nintendo Switch is now at 32 million, which surpasses the previous total number of Xbox One consoles sold, but they are currently allegedly at 41 million consoles sold, which means that there is only a 9 million gap until the most powerful console in the world degrades to the bronze position. Nintendo sold 14 million consoles in the last quarter alone, so that gives light that this is the last quarter with Xbox in the number two position, optionally the last month. Yet, I admit, my expectation of passing Microsoft by January 31st was not met, I was wrong. Yet the total number of consoles sold in the last quarter is still an amazing feat by Nintendo and it also shows that even as I was not correct in the end, my view was a lot better than all the market analysts.

The writing is on the wall.

I personally believe that some analysts have been setting the stage for shorting the stock of Nintendo. The question becomes what the law states. You see, when we look at the definition of shorting stock, the most generic version is: “he or she borrows shares of a company from an existing owner through his brokerage, sells those borrowed shares at the current market price, and pockets the cash“, yet in this case, the premise is not entirely that clear, with ‘he or she borrows‘ we need to consider that shorting the stock was done as a service for a third party, giving rise to the sale at tremendous profits. At present I seem to be wrong, there is no evidence of a setting to allow for a short sell. Yet the predictions that were made last year were so wrong, in so many ways that the overall findings would lead me to this path (there are others too). So is it just me? I would actually agree with this, was it not for the fact that the level of wrongness regarding Nintendo was so profound.

The state last year (Oct 2018) was given with ‘Nintendo Delivers Record Quarter, But Misses Estimates‘, so the stock tumbled a little less than 2%, in all this, whilst within a year the total lifetime sales of the Microsoft Xbox One were completely by 67% at that time, in addition, the software sales were almost globally ruling software top ten lists all over the place. We can argue that the ‘missed estimates’ were so ludicrously unrealistic that the entire matter had to be looked at, now we see the last quarter alone delivered 14 million consoles, which is almost 50% of what Microsoft achieved in sales between 2012 and 2016, four years versus three months, so how were estimations missed?

The puzzlement is supported even further with: “That’s Nintendo’s most profitable Q2 in eight years and a solid increase from the $211 million it booked last year.” It is in that light that I had an issue with the predictions in the last year. From my point of view Nintendo smashed almost every record, yet the stock is not reflecting that, giving rise to a few issues, but as a non-trader and a non-economy educated person, I cannot give the weight to that thought, yet the thought remains.

And now that we are treated to: ‘Nintendo cuts Switch sales forecast despite strong holiday season‘ the matter should be set, yet I am not convinced. Even as we see 14.5 million consoles up to now the last two months are unlikely to give them the 5.5 million consoles they need, they expect to get 2.5 million consoles and that seems achievable. I am not convinced that the 5.5 million consoles cannot be met, merely because Microsoft is on the ropes and there is no marketing, no advertising to reflect that. In this aggressive expansion universe it seems odd that Nintendo is not taking up the gauntlet to that degree.

They drastically improved visibility, especially compared to the WiiU. They have the titles that have a large appeal across the board and the people who do play the Switch love the interactions. In addition the shock news of Marvel Ultimate Alliance 3 and the fact is that it is exclusively to Nintendo Switch is not merely news, it is equally a shocker to Sony as well, as this was the kind of stuff that Sony needed to prevent from happening. The fans (including me) loved the first one on Xbox 360 and as we see the foundation of the original Gauntlet added to the DC and Marvel Universe, we get a game any comic book fan would love to play and nearly everyone that was one did and loved it. So to get this exclusively to Switch is a dealmaker as well as a record breaker. I doubt that this game will be out in time to get the next quarter sales up to the degree it needs to be upped, but it will soar sales of Nintendo yet again (optionally not in time to make the 20 million marker).

So did Nintendo do it wrong? I am not convinced, they made huge mistakes in the WiiU era and seemingly repaired all those flaws in the Nintendo Switch stage, no matter what estimates were not met, we now see that Nintendo Switch has gotten to 45% mark of the PlayStation 4 lifetime sales in under 2 years which is quite the feat as Microsoft got nowhere near that result, ever!

In second place

This is given to us by the Guardian (at https://www.theguardian.com/world/2019/jan/31/italy-slips-into-recession-for-third-time-in-a-decade-economy) it is in the setting of the same wall with more writing. It was to be expected as Italy has a whole range of economic anchors and downfalls. Yet I had hoped that Italy would have been able to stagnate their economy; alas they do not get to be that lucky and recession is the result. The problem is that this could also adversely affect France at present. It is (according to the Business Insider) yet at present the recession there is most likely, yet not a certainty. No matter how it wields, the French President will have to make a few committing jumps on several levels and as the stage between the US and the EU is polarising France will be on the side of the French needs, which by the way is not on par with American needs, so the Europeans have that to look forward to in the next 5 weeks. It is also the Italian part where we see failings, the Guardian gives us: “The deputy prime minister Luigi Di Maio, the head of the Five Star Movement, said the recession was proof that Europe’s budget rules should be relaxed to allow Italy to stimulate its economy back to growth“, which is the larger mistake. That approach did not work for the ECB and now the EU nations have a 3 trillion Euro anchor around their necks, adding debt will not have any true influence on the economy. the entire spending spree is now to be the anchor that drowns the 27 EU nations sooner rather than later and that is the overbearing part why Brexit was essential, the moment the UK is cut form that, the entire mess evolves too fast for anyone to correct for. The entire mess on four economies, where the one (UK) leaves and two (France and Italy) have merely a recession to offer, which means no options at all leaving it all to Germany who has enough for the ace of spades to be handed to them again and again. Germany avoided recession as it grew by 0.1%, which means that they only defeated the recession on the academic principle. It still means that the German economy is stagnating and that is not a good feeling when you are a German. So whilst we now see a whole parade of blaming the UK on making matters worse through a chaotic Brexit, I merely state that these idiots only have themselves to thank. If they had done something about the lack of transparency at the ECB as well as muzzle Mario Draghi from spending 3 trillion euro’s, money they never had, the situation would not be this dire (as I personally see it). The fact that the Business Insider also reported: (at https://www.businessinsider.com.au/europe-economic-gdp-growth-data-heading-to-recession-2019-1) “Junk bonds went through the roof. Total issuance of junk bonds from non-financial companies (rated BBB) went parabolic, according to Bank of America Merrill Lynch, as more highly rated bonds declined“, it is directly linked to the problem, that market went up by €100,000,000,000 in the last year alone, so this time if there is another meltdown (like 2008) and it happens, Europe will not see the fallout as it happened in Wall Street. No, this time around Europe will be the cause of it all to a much larger extent, so the impact on Europe will be beyond disastrous. Whatever quality of life there is, the Europeans can kiss it goodbye for decades. They could quite likely desire the time of harsh austerity, how is that on forecasting quality of life?

In combination

The EU is in a bad place and it has been reflecting all over the place. You see, last November we were treated to: ‘CPPIB is shorting $750 million worth of EU stock, making it one of the most active short-sellers in Europe, data show‘, more important, it gets an added “Unusual in that Canada’s biggest pension plan also tends to hold ‘rather long-term’ positions“. It seems a perfectly valid place to be in, especially when we see that so far that pattern seems valid. We see the additional “the CPPIB has nearly doubled the number of its disclosed short positions since last year, to 23 from 14. That places CPPIB 14th on the list of the most active short sellers in Europe“, as stated before, I can see the presence, and in this case I cannot explain it (merely because I am not knowledgeable enough to do so). Now, as we see the recession hitting Italy, followed by France soon enough, we might see the reflection on how the gains for the CPPIB could be one of the most profitable ones they have ever had. Even as there is still a little doubt, the firm holding ‘$356.3 billion in assets’, might soon be growing to a half a trillion wealth management colossal. With the positions becoming winners as Talend SA, Wirecard and PostNL falling like a brick in free flight, we see that the CPPIB is lunging forwards through growth (for now).

When we see the impact markets where the fun of wealth comes through the investing towards the gloom of failure, there we see profits soar, profits for those selling short that is. This is not the end or the beginning of the end. As France is setting the stage to move directly into a recession we will see more and more short selling profiteers and as France stumbles, the eyes of all will focus on Greece. Even as we are given ‘Greece moves towards ending austerity with rise in minimum wage‘, it is hard to predict the outcome. It makes perfect sense to do this and when you realise it is significantly less than half of what an Australian would get over that same period. It makes us wonder how the Greeks had been able to keep themselves alive. I personally hope that the view of Alexis Tsipras works out the way he thinks it will, the case is viable, and will it work? Only time will tell at present. Yet it is also a dangerous place. That is seen with: “A glimmer of light emerged on Monday as borrowing costs on 10-year bonds dropped to a four–month low and Tsipras announced that the government would imminently be issuing a five-year bond“, we get the logic of essentially needing to borrow, but Greece is in a much too dangerous place and those bonds could backfire in a terrible way, I believe that the bond issuing was done too early, in a time when there is still too much to lose. In that I actually hope that I am wrong, yet my track record towards predicting these events have been too often on the nose and that worries me to no end.

In this Bloomberg view supports mine (at https://www.bloomberg.com/news/articles/2019-01-07/all-the-risks-besieging-europe-bonds-are-spilling-over-into-2019), the headline ‘All the Risks Besieging Europe Bonds Are Spilling Over Into 2019‘ gives that. Even as the view does not include Greece, the overall risk will be hitting all EU nations (as well as the UK). There are two parts to this, the first opposing me is the view “The risk of spillover from Italy is in our view overestimated,” by Arne Lohmann Rasmussen, head of fixed-income research at Danske Bank A/S. Both that as well as the positivity that he thinks that Spain brings is set on realism, the man is a professional, let’s not forget that. Yet on my side we see: “What happens in Italy is still likely to be felt in its Mediterranean peer, albeit not to the extent of the euro-area debt crisis earlier this decade” this is the Goldman view and I believe t is more accurate, more important the doubt and worrying nature of these investors will make them sketchy and shift happy on a few levels, so when Italy is hit, France will get a beating as will Greece and it will affect Spain too, depending on their economy optionally a lot less and there we get back to the academic non recession of Germany, that 0.1% in the plus, when that gets hit negatively it will escalate the Mediterranean issues by a lot more hitting Spain for certain and hitting the others harder. It is merely my view, yet I believe it to be the correct one. For how much is unknown, I have no idea and I am not willing to guess. We will see a lot more by the end of March. It is at that point where we see what the actual impact will be, at the point the people will decide to either enjoy a little sunshine or make sure that they can avoid the winter of their bank accounts, in Europe these options have become mutually exclusive, an impact that will hit tourism in Greece and Spain in more ways than one. At least the Greek prediction that their tourism will level off in 2019 is decently realistic, which opposes the view: ““2019 will be Greece’s year,” according to DER Touristik, the largest travel company in German-speaking countries” one that is wishful thinking at best.

 

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Smite the analysts

It is time to change the game. It is time to do a lot more than merely claiming to do something about fake news. I never claimed to bring the news, I have merely been in the process of nitpicking it as much as possible and the Guardian got my feathers plenty ruffled this morning, so it is time for me to be a little speculative of the matter.

We love our idiot products at time; it is something to laugh at or something to make a joke about; for the most harmless fun. Yet today something snapped. It might have been the abuse that Theresa May has been receiving, it might have been watching some poor sod holding a ‘We’re poorer without EU‘ sign, whilst like me that person is unlikely to have any economic degrees.

So when I see: ‘Theresa May’s Brexit deal could cost UK £100bn over a decade‘ by Richard Partington (at https://www.theguardian.com/politics/2018/nov/26/theresa-mays-brexit-deal-could-cost-uk-100bn-over-a-decade).

I hereby make my first demand (do not worry, no one will listen anyway).

In regards to: ‘People’s Vote-commissioned study says loss is equivalent to annual output of Wales‘, I DEMAND a full disclosure of the names of the people involved as well as a clear documentation of all sources used. this includes the names of those in the ‘People’s vote’ those who commissioned the study, the price paid for the study, as well as the names of those who made that report (not just the three who wrote it), the data sources used as well as how the report was set to the data and its results. I expect to find a dozen flaws in the very least. In this case any arbitrary choice (which at times is perfectly valid), should be seen as a flaw, unless clearly stated as such.

It is time to hold these people up to the limelight exposing what the Guardian (and many other newspapers) are giving voice to as being ‘the facts’. I would like to go as far as prosecuting (to some extent) the makers of these loaded and dubious reports by banning those names from any governmental research for life! When that happens, we will get all kinds of excuses and well phrased words or denial. Yet, I feel that we have come to a point where these activities can no longer be tolerated. Not by any government and not by any organisation with political aspirations, or connections.

The reality here is that the UK will lose income, lost funds and lose options for the short term. This has always been known. We always knew that things would get a little worse. Yet NOONE is making any call on the waste of three trillion euro’s by the ECB on their Quantative Easing and the waste of now close to three trillion that the taxpayer has to pay back, whilst people like Mario Draghi walk away with a ton of money, a member of an elite banking group of 20 and no accountability to anyone. The media refused to hammer on the ECB on any of it and the lack of clarity and transparency that the ECB has. This happened in full view whilst they all had 50+ articles on the death of a journalist no one really cared about (aka Jamal Khashoggi).

My larger concern is seen in: “Garry Young, the director of macroeconomic modelling and forecasting at NIESR, said: “Leaving the EU will make it more costly for the UK to trade with a large market on our doorstep and inevitably will have economic costs.” The NIESR report found May’s deal would not be as damaging for the economy as Britain leaving the EU without an agreement, which would cost the economy about £140bn over the next 10 years.” From my personal point of view, these people are in it for themselves, most of them are. Even as I will immediately admit that this report looks actually valid and good, issues come forward to a degree that might not have been seen at the beginning of it all, yet the scrutiny after the report is also lacking making the issue larger. What some call ‘lucrative European contracts’, we see a lack of investigation on both sides of the isle in all this, because as a Brexiteer, I will never deny a Bremainer to voice their opinion, or their opposition to it all. It is the acceptance of democracy that demands it from within me. The UK has not really profited from the EU, merely large corporations have and that is actually the biggest issue with the entire EU at present. When we look at the 68 million consumers, many of them have not been able to afford any of it. The bulk of all of us are dependent on moments like Black Friday to get the hardware we normally cannot get. It is a known issue that the quality of life is still low all over the UK and in many other places. The only true beneficiaries of the entire EU setting are the large corporations. The local grocer sees no real benefit, whilst the large supermarkets have all these deductibles that for the larger extent benefit its board members, not the customers. People like Gary Young are eager to make mention of ”inevitably will have economic costs“, which is a truth; I and many realistic others do not deny it. Yet in equal measure we can move away from a multi trillion bond buying scheme that has done nothing for the people whilst making the banks fat and rich. Never before in the history of mankind did the banks and Wall Street have such a large hold on governments and its citizens and we sat down and let it happen. Brexit is for the UK the first step to undo that damage and it will take time, we all get that. So as we realise that the ECB failure, in part to unmanaged ‘freedoms’, lack of transparency and accountability has greatly impacted the UK, at that point will we realise that there is a weighted and loaded stage against all of us, in every EU nation. The second part in all this is what some call: ‘the EU gravy train’, I have made mention of it on a few occasions and the lack of actions in that regard is close to sickening. Even The Times gave us some time ago: “MEPs are clinging on to lavish, tax-free handouts for travel despite publicly pledging to repay them, according to an internal report by the European Parliament. They have kept an estimated €6million (£4 million) after promising before the 2004 elections not to claim the money. “They get exposed, promise to be modest and then keep riding the gravy train. It is appalling,” said Hans-Peter Martin, an Austrian MEP, who has led a campaign against abuse of expenses. The €60 million-a-year travel allowance system is so generous that many MEPs admit it amounts to legalised embezzlement of taxpayers’ money. MEPs are paid a first-class air fare for travel to the parliament, even if they use budget airlines. They make an average of £20,000 a year tax free“. We can agree that in that meantime something was done, yet how much was done? The taxpayers have to come up with 751 times £20,000, giving us a total of fifteen million pounds and that is only the travel item every year, one of a lot more items, so how much extra are these people getting? The simple fact that many of these issues have not been adjusted for over 12 years is a clear stage that the EU is the goose for exploiting extra income and benefits, something taxpayers never signed up for in the first place. Even now (8 weeks ago) we see: ‘Details of MEPs’ €4,416-a-month expenses to remain secret, court rules‘ (at https://www.theguardian.com/world/2018/sep/25/mep-expenses-eu-court-ruling) with in addition: “MEPs are also refunded first-class travel expenses and get a €313 daily allowance for hotel and living costs when working in Brussels and Strasbourg“, which in the most optional stage grants them an additional £60K each, adding fuel amounting to £46,562,000 to the tax payers fire. I think I have made my point, did I not?

When Brexit is done and we start seeing the impact, I predict it will be less than 2 years before the complaining starts, not from the UK, but from the other nations that now have to pay for the part that the UK will no longer be paying for and that is the ballgame here. When that happens, and it will we will see a rejuvenation by both France and Italy wanting to get out as fast as possible leaving merely Germany as the large economy to carry the weight of the EU and they will not be able to do this and it will all collapse. That is not a speculation; it is a certainty as I see it. It will only need one of those three to join the leave team and it will already fail. In light of all that is happening it seems to me that Italy is now the frontrunner before France, yet that might be what the horse lover calls a nose length photo finish. It was almost two weeks ago when French Marine Le Pen gives us almost the same view in the Daily Herald with: “French far-right leader Marine Le Pen is blaming the policies of the European Union for Britain’s exit from the bloc. “If the EU wasn’t what it is now, the United Kingdom would still have been a member of a structure that respects the nations, the people, that doesn’t impose migration polices and deals that have very heavy consequences on our industries and agriculture,” Le Pen said Friday at a news conference in the Bulgarian capital, Sofia.” It was for the most what pushed me into the Brexit field a few years ago; even as Mark Carney, Governor of the British Bank and his presentation in the House of Lords gave me reason to doubt that, the acts of stupidity by Mario Draghi and the ECB pushed me straight into the Brexit field, supporting Brexit. A situation that had been known for years, yet in light of 751 beneficiaries nothing was done to keep tabs on it and Brexit become a fact.

So as we accept the setting (via many sources) that Marine Le Pen is giving through “the EU wants to punish Britain by imposing “conditions that are unacceptable to a large majority of the people in the U.K. and to members of the British government.”“, we have seen several parts of that in the media. Is it not interesting how infantile the EU gets when you do not want to be a member? They threatened Greece to throw them out, whilst there was no legal option for the EU, and they demand the impossible from those wanting to leave. In that setting, who wants to remain a member? I would go with the speculation that the EU is for: ‘those who needs the power of exploitation‘.

It is getting worse

In this we look back at Greece. Some might remember the big boast that Greece made. I mentioned it in my blog: ‘They are still lying to us‘ (at https://lawlordtobe.com/2018/06/23/they-are-still-lying-to-us/), so when we were treated on June 23rd to ‘Greece ‘turning a page’ as Eurozone agrees deal to end financial crisis‘. Here Alexis Tsipras was happy to be quoted with: “Greece is once again becoming a normal country, regaining its political and financial independence”, we saw none of the EU reservations in a claim that was off by decades. I also commented in favour of the Greek opposition shown by Kostis Hatzidakis with: “The opposing party reacted to the credit buffer with ‘Kostis Hatzidakis said it reflected the lack of faith international creditors had in Athens’ ability to successfully return to capital markets.‘ And in this Kostis is right, the international markets have zero faith in their return, they rely on a small thing called mathematics and the clarity there is that the scales are not in the favour of the Greeks.” Now we see a mere four days ago ‘How Greece Is Scrambling to Save Its Banks — Again‘, the EU has become this short sighted, this convoluted in misrepresenting the facts to the people. So as we see: “Greece is scrambling to figure out how to save its banks — again. Burdened by bad loans that make up almost half of total lending, crippled banks remain one of the biggest hurdles to Greece’s economic recovery. There are even worries that the country may face yet another financial crisis if it can’t dislodge its lenders from their downward spiral. With bank shares tumbling, the government and the Bank of Greece are working on plans to help banks speed up efforts to shed soured loans” and this comes one day after: ‘EU: Greece has Not Implemented 16 Bailout Program Prerequisites‘, which we get from the Greek Reporter. We see: “The European Commission is urging Greece to proceed with 16 prerequisites that have to be completed by the end of the year, as agreed with creditors. The first report after the end of the bailout program in August that was released on Wednesday says that Greece is delaying to implement 16 important measures and reforms. Among them are the staffing of the independent public revenue authority, the repayment of overdue debts, the legislative framework for resolving the problem of non-performing loans and the development of the new primary health care system“, the article by Philip Chrysopoulos also gives us “Despite the fact that Greece’s 2019 budget meets the target of a primary surplus of 3.5 percent of GDP” will see a speculative setback (speculated by me) by close to 2% at the very least, in what will likely be a wave of managed bad news. The EU is now that useless and pushing down all the other European players. If only the EU legal setting had allowed for removing Greece from the Euro setting and EU economy settings in 2014, a lot of the issues (like Brexit) would never have been an issue. It is in my personal view greed driven EU stupidity that allowed for this. A blind faith in Status Quo that pushed the need of large corporations and that might become the downfall of the EU as a whole.

Do you still think that the EU is better for the EU economy? First Greece and now Italy are becoming the weights drowning the EU. Merely one hour ago, the BBC reported that: “Italy’s government says it will stick to its high-spending budget plans, setting up a potential stand-off with the European Union over its deficit.“, are you actually believing in fairy tales when you think that this will not hit back on the rest of the EU? Even as the Independent reported 13 hours ago: “The pound fell 0.19 per cent to €1.1284 off the back of reports that Italy is headed for a breakthrough with its budget, which would bring to an end weeks of wrangling between the EU and the Italian government.” we now get the reality that there was no breakthrough, we merely see more of the same and the impact of Italy is not immediately reversing and upping the pound against the Euro is it? In light of the revelation, the pound should be up by no less than 0.27 percent against the Euro (the gain and the 0.19 percent loss), we will not see that will we (or we will see it as late as possible so that the 0.27 percent can be largely minimalized. When you realise that the UK is getting unfairly hammered to this extent, would you want to be part of that group? And when (not if) the UK shows the improvements making the UK economy better, what excuses will the EU, ECB, IMF and Wall Street give the people of Britain?

To be part of any exploitative regime as the EU is starting to show it in a few ways. The evidence of this statement was shown by the Clean Clothes Campaign last June when we see (at https://cleanclothes.org/news/2018/06/11/complaint-lodged-against-the-european-commission-for-failing-to-uphold-fundamental-human-rights-in-trade-policy) ‘Complaint lodged against the European Commission for failing to uphold fundamental human rights in trade policy‘. Here we see: “Bangladesh has committed serious and systematic violations of fundamental workers’ rights. Conditions are unsafe for millions of workers in Bangladesh. Additionally, the labour laws of Bangladesh create significant obstacles to the exercise of the right to freedom of association, to organise and to bargain collectively. Further, the government has not effectively enforced even these flawed laws, and workers complaints to authorities are routinely ignored. Without bargaining power or legal recourse, workers have been forced to live in extreme poverty.” and when we realise that the lack of activities, naming and shaming those who are part of it all, whilst the EU remains inactive to a much larger extent, my case of large corporations being in charge of those acting in the EU parliament is close to well made, tailor made one could state. The lack of visibility given in the EU and the oversight on what is imported into the EU from Bangladesh is frightening. The Dutch CBS reported 3 weeks ago: “The average import price per vest exceeds 3 euros in 2018. With an import price of around 2 euros, vests manufactured in Bangladesh are considerably cheaper. Prices of vests from China (approx. 2.50 euros) are also lower than average, while vests from India were average-priced (around 5 euros) and those from Turkey more expensive than average (around 5 euros).” good luck trying to convince me that this is not about money and that there is a proper investigation into the Bangladesh situation. The fact that even China cannot match these prices is partially evidence enough. The fact that manufacture owners in Bangladesh are part of the 250% plus stage that we see with: “This is the largest quantity ever recorded and approximately 2.5 times more than in 1998“, the lack of questions by those gravy train people is just a little too weird and more questions are not coming forward. That is the European Union that its members seem to like and letting the UK out is also not an option. The analysts are merely the first circle we should go after (the first of several mind you). Any report that is not clearly documented with the names of all the people involved in this should immediately be disregarded and kept on record for prosecution and smiting afterwards (when those reports are proven to be incorrect) at that point I wonder how many studies we will get that are so overwhelmingly negative. And it is not merely the analysts. The names of the people commissioning for the report and the clear definition of the question that was asked will also be set to scrutiny. I wonder how many politicians and corporate figures will suddenly run for cover and darkness like a group of cockroaches.

Feel free to disagree or even oppose my view. Yet also remember, I merely want to see the names and all data on those so called ‘commissioned studies’. Is that such a bad question? When we are given the results, should we not wonder HOW they got there? Is that not a duty we all should have?

When we look at The National Institute of Economic and Social Research, we see a clear stage of names, Arno Hantzsche, Amit Kara and Garry Young (which is a proper thing, mindyou). We also see on page 7 and 8: “The Governor of the Bank of England estimated that by May 2018, UK household income was 4 per cent lower than it would otherwise have been as a consequence of the referendum (Carney, 2018): “one third of the 4 per cent shortfall in real wages reflects stronger-than-projected inflation, which is almost entirely accounted for by the referendum-related fall in sterling. The remainder reflects weaker-than-expected nominal wages, the majority of which can be accounted for by weaker-than-anticipated productivity growth“, which should not be disregarded.

Am I opposing my own view?

No, when you see the charts in that page, we see the UK not being in a good place. Yet considering ‘UK economic growth relative to other G7‘ and ‘UK inflation relative to other G7‘, the UK situation would not look great whilst this is staged up to 2018, and now we get the good part. The G7 are Canada, France, U.S, U.K, Germany, Japan and Italy. Now consider the Italian part dragging down due to the stupidity of their budget decision (which might be seen as their right). In addition the Greek issue will drag down the EU as a whole and the USA is in a trade war that will also impact the USA, all parts seemingly not taken into account and suddenly the UK already looks a lot better in all this. Now, we cannot completely fault the report called ‘The economic effects of the government’s proposed Brexit deal‘, yet there is already a non-negative impact for the UK (it is a stretch calling it a positive effect). In addition we see properly placed “We have assumed” in the proper places and only thrice, which is also a good thing and for the most utterly unavoidable. We also see in one place: ‘Sterling effective exchange rate (January 2005=100)‘, which is possibly merely arbitrary, from my personal view the fact that 2008 and 2016 have impacted it all might also be a stage where the UK had more hardship than before and as such the three stages should have been included. My final issue is on page 15; I do not doubt the numbers or the statement perse. Yet when we consider “Ramasamy and Yeung (2010) find that openness to trade benefits in particular FDI inflows to services sectors, much more than to manufacturing. Ebell and Warren (2016) survey the empirical literature and calculate that reverting to trade under trade arrangements similar to those between the EU and Norway would reduce FDI into the UK by 8–11 per cent, and by 11–23 per cent under a Switzerland-type relationship” that openness of trade also implies the open acceptance of the unacceptable ethical stage that Bangladesh is showing to be, we need to ask the tougher questions on EU inactions to the degrees currently seen. You see, when we accept one part, we need to accept that all these sweatshop articles are out of bounds. They are merely emotional banter pressed on those trying to meet budgets, there is no humanity left, we should not allow for that. In this way my statement is harsh, yet that is what the EU has become, a harsh proposer of status quo at the expense of whatever is coming next. If you do not agree, feel free to ban all Bangladesh T-shirts, leaving others with 215 million T-shirts to sell; was that example too direct?

Even when we accept the part of ‘how the deal affects uncertainty and confidence‘, which is a topic that will remain as there will always be uncertainty, the entire report is seemingly staged towards the bad side, whilst any improves economic marker from the second year onwards are basically ignored. We can argue that year one will have no upsides, yet the stage of no upsides in year two is lose to unimaginable. Apart from the ‘EU donation‘, which has been significant, the downturn of Italy and Greece that will no longer impact the UK is clearly escalating and France is basically scared shitless of that part. France is so scared as it is in a much worse position than Germany currently is, who will also feel that impact to some extent.

No matter how this plays, it is a mess that will test the reality of a lot of people. My largest concern is not how good or how bad things get, it is the fake revelations by speculative analysts that are the impact of a lot of things and the moment when we see the managed bad news after the fact, we will also see the weakness that has become the EU, in light of an already weak USA, this merely strengthens the need for a segretative community (read: nationalistic approach to national issues). It is the one part where I see eye to eye with Marine le Pen: “the policies of the European Union as well as the lack of transparency and non-accountability” are the biggest drivers in this entire sordid affair.

I wonder how draconian the changes will become when others realise how correct my view of the matter was. I am less likely to facing the fact that I was wrong, there is too much documentation pleading for my view, especially as the Wall Street Journal reported “Greece’s Eurobank Ergasias SA said it will acquire real-estate company Grivalia Properties REIC, boosting its capital and paving the way for the creation of a “bad bank” to help deplete its pile of nonperforming loans” a mere 5 hours ago. So when exactly did the people ever benefit from a bad bank solution? We saw that in 2013 with the Dutch SNS and Reaal setting. So as Brussels treated us to: “The costs to the Dutch taxpayer were still substantial, resulting in a deterioration of the budget balance (excessive deficit procedure definition) for 2013 with 0.6% and an increase in EMU debt of 1.6%“, we see Greece doing the same 5 years later. As we look at the quote: “In fact, since the nationalization the Dutch press has regularly published pieces that show how the commercial real estate has been mismanaged for a substantial time period. Did this go unnoticed by the regulator? Why did it not intervene?” We now get to unite that part with the overwhelming inaction of the EU and the unacceptable actions of the ECB, so this will be a much larger thing that Greece is printing on the rest of the EU then the people are currently aware of and the impact will be felt much larger, the fact that the bulk of the EU states cannot keep a proper budget merely makes mathers worse (not a typo, it means ‘reaper of hay’), and now I am in a state of moments uncontrollable deriving laughter.

The lack of visibility to several parts (an issue I cannot blame the media for in this case) is just incomprehensible. In part this is due because there are so many elements interacting, yet the fact that the issues are not visible is still a matter of great concern, and also an additional reason to push for Brexit.

 

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