Tag Archives: Italy

What is right is sometimes wrong

This is a weird day; it is weird for all the reasons that set the stage where things are weird. It is not ground breaking, it is not even great, but it is an essential event. To explain that we need to go back to Dutch history, to be more precise we need to go back to 1994. The politician Hans Janmaat was a member of the CP (Centre Party), it was ultra-right, very nationalistic in nature. He had slogans like “Holland is not a country of immigration” and “full=full“. In the not so great economic settings, which were harsher for many as the Netherlands is not just seemingly short on available space. To give a comparison, The Netherlands is the almost the same size of the US state of Maryland, Yet MD has 6 million people, the Netherlands 17 million, so space is hard to come by, so people started to listen to this person. In UK terms it makes the Netherlands three times the size of Yorkshire, whilst having 350% of its population, so it is decently comparable.

Even as his views were only tame in the first 3 hours, his extremists’ views were soon loud and harsh. So a lot of politicians and media starting to ignore him, which I always thought was a mistake. If you want to take power away, you need to make that person fall on his sword called ego. The media and politicians thought it would go away, which did not happen. What did happen that people were too frustrated with the elected politicians and in the 1994 elections, he ended up with the power of three seats, not one seat, three! He now had (for a short term) power and a vote in all the events, now all parties united against his actions and views, so they had to unite in resources stopping him. In all this Hans Janmaat often used economic arguments in his tirades against immigrants, just like Adolf Hitler did and some usurpers before (and after) him. Yet, the setting was a dangerous one and it was deflated by politicians setting a sphere of ignoring him around him, silencing the issue away and it did go away after a while. Yet did they actually deflate the situation? Now we see a similar setting to some degree with the Dutch politician Geert Wilders, who merely has a more tempered view in all this, yet for the most still very ultra-right oriented, he has not gone away, he is now the political leader of a party that has 20 out of 150 seats in the House of Representatives, 9 out of the 75 Senate seats, 66 of the 570 state provincials and 4 of the 26 European Parliament seats. Remember how this setting started with 3 seats?

In addition, the Professor Emeritus Meindert Fennema gave the argument in 2006 that Hans Janmaat was in the end convicted for making statements that has become common place in 2006, a gap of a mere 12 years. the political climate had changed in the Netherlands, partially due to the assassinations of politician Pim Fortuyn and Dutch film director and producer Theo van Gogh, the 9/11 attacks did not help any either. Geert Wilders followed in his footsteps (to some degree) and is the current leader of the Party for Freedom (Partij voor de Vrijheid – PVV). When we want to expose extremism, even Christian extremism, it can only be done by pointing it out in the media, we acknowledge that there are plenty of people who are sheep. They remain sheep because they merely follow, they cannot tell the difference on quality of who to follow and that is dangerous too. Some presenters (in politics and media) go into academic overdrive to the degree that can put any insomniac asleep roughly 92% faster than a double dose of Restoril (Temazepam). In many cases we need to educate the people, not sound more intelligent then them; this is the setting I have and now we get to the article ‘Sky News removed from Melbourne railway stations after extremist interview‘. The article (at https://www.theguardian.com/australia-news/2018/aug/09/sky-news-removed-from-melbourne-railway-stations-after-extremist-interview). Important is that I do not disagree, but at times the right thing is wrong. You see, when we see Jacinta Allan, Victoria’s transport minister give us: “I’ve directed @MetroTrains to remove @skynewsaustralia from all CBD station screens. Hatred and racism have no place on our screens or in our community. #springst“, I think she has a good and valid point. Yet, if we do not educate the people on what is wrong and why it is wrong, such a person can get elected in the end. After that it will be one complete political term of fixing the floor whilst the tap is running and the mess merely gets bigger. So when I see: “The move comes after the network interviewed Cottrell on Sunday night and the broadcaster was accused of “normalising racism and bigotry” by the former Labor MP Craig Emerson“, people will state that it makes sense that we see ‘quit his role at Sky News following the broadcast‘, yet the damage is done. A partial opportunity was grabbed by Laura Jayes when we see: “As if to prove my original character assessment…. Blair Cottrell posts (and later deletes) some weird suggestion about raping me on air. He’s not just a fascist. He’s down right dangerous” and she is not merely correct, she is absolutely right! A person like this is dangerous, the economic climate is here, just like it was in the Netherlands and there is plenty of hardship. People like Cottrell will state things like ‘it could be better, but no one will listen to me‘. Soon he has one person listening, then a second, then 4, eight, 16, 32 and that is merely in the first day, on the second day, the 32 will incite 64 to listen and it goes up quickly after that. If you decide to disagree, please feel free to watch the movie (at http://www.abc.net.au/news/2017-12-04/billy-bush-says-infamous-access-hollywood-trump-tape-is-real/9224358), where a famous person decided to state ‘You can do anything, grab them by the Pussy‘, for your reference. That person is now addressed as ‘the 45th and current President of the United States‘, so smothering the silence and actual take action to show the danger of such a person is a more essential act then you think.

The same mistake that we saw in the Netherlands and several countries in the past should not happen, the only way to get these people out of the picture is to let them rant live on TV and make sure the people realise how dangerous it is to listen to people like that. So in this Jacinta Allan is wrong and Laura Jayes is right. Only by clearly exposing these people and making sure that such a person is ‘down right dangerous‘, preferably with evidence and stating why this person is dangerous that is how you deflate a situation. Most politicians are more about hearing their own voice and not about removing others by letting them speak and there is to some degree validity in that. Yet, when we see that not invalid view fail again and again, other ways need to be found. You see when you start skimming the news, reading the headlines. we see ‘Sky News sponsor backlash mounts‘, ‘Sky News removed from Melbourne railway stations‘ and ‘Victorian government bans Sky News from train stations‘, now it is all about Sky News and people might ignore the rest. Yet the headlines could have read ‘Blair Cottrell states that woman are happier with rape‘, ‘Extremist views removed from Melbourne stations‘, or ‘Blair Cottrell gets advertisers to drop contracts‘. Now the focus becomes Blair Cottrell and people will want to know why, more important, they will clearly see why Cottrell is ‘downright dangerous‘. With a person like Blair Cottrell it is not about bringing nuance to the screen; it is a tactic that works in his favour, by giving people the blunt direct version many more will shy away, those who optionally still admire him will do so silently, so growth of listeners is no longer a worry either. The sheep mentality also implies that something less acceptable will be pointed out and set into the limelight that people like Cottrell really tend to dislike, especially when they have political aspirations.

You see, there is a second danger and that is the one we do not see, but they are in the US. CNN reported less than 10 hours ago (at https://edition.cnn.com/2018/08/08/politics/donald-trump-primaries/index.html), that it is not merely getting into power that counts, the setting we see with “In the last 14 contested Republican primaries where President Donald Trump has endorsed a candidate, his pick has won — or is leading — all 14 times“. With: “John James in Michigan’s Republican Senate primary, who had been considered an underdog prior to the Trump endorsement, won the right to face Democratic Sen. Debbie Stabenow“. President Trump was not merely a president; he became a kingmaker 14 times over. So it is no longer merely him we need to worry about, it is that there are now 14 small time Trumps on the rise. So when you think that silencing Blair Cottrell helps, consider what happens when he gets in because he got endorsed by Pauline Hanson, current senator of Queensland and it ended up working because the people did not realise just how dangerous he was?

The US as well as European politics have shown that several times over. It was a miracle that someone pulled current President Emmanuel Macron out of a hat, it was a close call between that option and the alternative that President Marine Le Pen would have offered. Several sources gave rise of the situation with “the strategy of fear mainly reinforces Le Pen’s popularity“, I am against fear mongering and there was almost no option, because everyone considered that it would never happened. Not only did it almost happen, In Italy Matteo Salvini, the initial underdog is now Deputy Prime Minister of Italy. I think it is clear that we need to accept that doing the Ostrich (a head in sand pun) will not cut it. In case you think it is going to sizzle out, consider the Guardian (at https://www.theguardian.com/world/2018/aug/05/italy-coalition-cracks-five-star-salvini-racism), where we see: “Roberto Fico, M5S MP and president of the chamber of deputies, spoke out against a controversial pact with Libya that sees migrants forcibly returned to war-riven north Africa“, speaking out against a setting where refugees are send back to a war front setting. Salvini just got elected; Italy has 5 more years of this setting. With this I hope we all agree that giving the limelight of danger on just how dangerous Blair Cottrell is, is preferable than him gaining strength and followers in silence, because AFTER an election there is very little we can do for that term, a clear view with five examples where we only see one case with a narrow escape, not a good track record to work with.

I have always believed (and rightfully so) that given the setting where you give a short-sighted person enough rope, they will end up hanging themselves again and again. It is like the overeager DIY person and the ability to paint himself into a corner that tends to be the most satisfying setting of all. In such cases I am more than happy to sponsor the bucket of paint and the brush, seeing a person sit in a corner. On a personal level, if that person ends up being Jason Sudeikis, I will make sure that his wife Olivia Wilde is not in the corner with him, seems like fun challenging her to several games of Splatoon 2 on the Nintendo Switch (one Nintendo Switch each mind you) and after each round both of us shouting out: ‘You OK there Jason?‘ should make an amazing afternoon of gaming, possibly the best one ever!

I have been known to be creatively sneaky under the most diplomatic of settings.

#SplatoonOrangeChampionsRule

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Merely a starting point

There is an interesting article at the Guardian, which we were treated to mere 6 hours ago. The article ‘Virgin awarded almost £2bn of NHS contracts in the past five years‘ seems to be rubbing people the wrong way. We see (at https://www.theguardian.com/society/2018/aug/05/virgin-awarded-almost-2bn-of-nhs-contracts-in-the-past-five-years), the setting where in “one year alone, the company’s health arm, Virgin Care, won deals potentially worth £1bn to provide services around England, making it the biggest winner among private companies bidding for NHS work over the period“. In the end, the NHS either privatises to a much larger extent, or the service stops. It is basically that simple and it is only the beginning. Even when we give the right amount of empathy to Sara Gorton, the head of health at the trade union Unison, as she states: “The company has been so keen to get a foothold in healthcare, it’s even been prepared to go to court to win contracts, moves that have cost the NHS dearly. While the NHS remains dangerously short of funds, taxpayers’ money shouldn’t be wasted on these dangerous experiments in privatisation“, is that really the case? The fact that Virgin got the contract was mainly because it could be done cheaper. I warned for certain settings as early as 2014, that certain steps cannot continue that way, changes are essential. In addition, as late as January 2017, I mentioned (at https://lawlordtobe.com/2017/01/15/the-views-we-question/), in the article ‘The views we question‘, issues like: “the document, released in December, aims to address the need to bridge the local NHS funding gap of £267 million which will exist by 2020 if services stay the same in the region” gives rise to even more worry. Not only is the NHS a quarter of a billion short in roughly 1080 days in Coventry and Warwickshire, to survive they have to move? How will that aid the people in Coventry and Warwickshire? Will they end up with any health care at all, or will the local Romani Gypsies with oils and herbals need to be relied on? You think that I am exaggerating? If so, please feel free to inform me on how those two places Coventry and Warwickshire, with 340,000 and 550,000 people end up coming up short by £267,000,000 in three years? Well if advice comes at £343,000 on private consultants, that shortage might be reached rather quickly, but that is not the story is it? The story is how funding has failed and how much more it will fail over the next three years. So, as such, is my view as I personally see it of an essential judicial public inquiry that far-fetched?“, it refers to an article in the Coventry Telegraph, so with the question on how we can save money, which was billed at £343,000 , starting with common sense might have been a first solution. In addition (at https://lawlordtobe.com/2016/02/17/behind-the-smiling-numbers/), in ‘Behind the scenes‘, we get a few truths that really hurt and that was February 2016. The Guardian then gave us: ‘Income tax must rise 3p to stop NHS ‘staggering from year to year’‘, so, how much more taxation was captured for the NHS? Remember that was 2 years ago. In addition, I had issues (to some extent) on the path that Lord Kerslake took with his papers. And all these papers and consultancies (none of them free), the proper setting for mental health care was not properly set in the dimensions of cost and forecast, now add to that the setting of taxation delays and we see that the NHS is collapsing on itself, a collapse that is increasing in speed and that is merely the last two years. So in all this, someone at Virgin woke up and called Uncle Richard and asked if he was interested in making a few billion more. The setting was always falling in this direction, and most of it was not due to the tenacity of Richard Branson, but due to the political inaction and to an even larger extent the political follies seen (NHS-IT being the main one). Consider that it took me 8 hours to figure out a technological solution that could change the entire infrastructure of data, merely because I was willing to look at the larger picture and rearrange a few settings, the solution was printed in the History of Scotland, it was THAT simple. Yet none of those IT experts had a clue, or they did but the political engine would not consider adherence to change making it a bigger folly.

Now we see: “Precise details of all the contracts are difficult to establish because neither the Department of Health and Social Care or NHS England keep a centralised record. Virgin’s when it announced plans for six branded clinics offering a range of services. However, it was only in 2010 when it bought a stake in an existing provider, Assura, that it began to show greater ambition in the market“, which shows both the data folly as well of a massive lack of transparency on the health care part (optionally parts of the NHS as well), that shortcoming is the first setting into cost cutting and it is also a direct link to where services could be bettered. The second part was seen in January 2017 with ‘Dr Sarah Wollaston, chair of the Commons health select committee, criticised the government for blaming GPs for the crisis” as well as “She said in a tweet: “Pretty dismal stuff for govt to scapegoat GPs for very serious NHS pressures. Failure to understand the complexity or own responsibility.‘, the central setting was ‘Failure to understand the complexity‘, a part that was shown to a larger extent going back to 2016, even in 2015 and 2014, there were clear signs of non-comprehension in all this and the IT folly, which the Labour government was able to grow to £11.2 billion merely added to the pressures, whilst in addition to all that is also minimised options left for the NHS. all that squandering came at a price and it seems to me that both Sara Gorton and Paul Evans seem to steer in their lanes, but are equally ignoring the setting that the opportunity for Virgin grew due to a lack of flexibility in the organisations (slightly speculative) and the political branch merely added fuel to the squandering fires. Then finally the Lord Kerslake paper, which I opposed to some extent with the equations that they had in regards to the 20 OECD countries. Here I mentioned ‘Perhaps his Lordship could give a slightly more detailed explanation for the remark “Health spending needs to rise at least in line with GDP. Arguably, we may need to go faster if we want to match European funding“. Considering that the Netherlands and Belgium are next to one another and their budgets per person are apart by a mere 49.404%‘, I believe that it is not merely the stretch of the ‘holier than thou‘ GDP, I believe that there are additional elements making the comparison for the UK not merely dangerous, I believe them partially to be unusable (well a bit more than just partially). In all these settings there has been delay on delay and in the end Virgin had to step in. The funny part is that this also opens up data and reporting centres where Virgin has a much larger trove to work with. It would end up that a new VirginAnalytics could be what Dunnhummby was for Tesco, although with a data growth close to 500% of what Tesco allowed for, there is a decent setting where Virgin creates new levels of data cohesion giving the NHS an actual first time where there is a better level of reporting transparency as well as a better quality of Dashboard presentations, which will grow Virgin even more and also allows Virgin to skim the cream of the NHS sections that will be more profitable in the mid-term range of investments, opportunities grown from political complacency as well as political indecision.

So whilst people are going emotional with slogans like: ‘Not His to Seize‘, they all forget that the NHS and its political branch did this to themselves, Uncle Richard merely picked up the pieces and made it all work. This is getting even more traction when we consider the Lancashire Post where we saw almost a month ago “Opposition politicians have demanded an urgent inquiry into the way the authority awarded a £105m child health contract to Virgin Care, only for the decision to be blocked in the High Court. County Hall is continuing to consider its options after the ruling two weeks ago, one of which could be to re-run a part of the procurement process which the judge ruled fell short of the standards required

The article (at https://www.lep.co.uk/news/inquiry-call-over-lancashire-county-council-105m-virgin-care-health-contract-1-9241205) gives rise to questions not only on the awarding of contracts, but on the entire setting on investigating the amount and not to mention the fact that the contract was awarded whilst there were two NHS trusts on it, it shows that it not merely transparency. With ““We are in a real mess and the Government needs to intervene,” said Labour leader Coun Azhar Ali“, it implies that the NHS (as well as the local government) is to some degree riddled with incompetence. I cannot come to any other conclusion. The setting we see with “Coun Fillis added: “The Conservatives in Lancashire have been stopped once again from privatising public services, in this case our children’s health services“, is on Labour, not the Conservatives. The governing party decided to push for public health privatisation, and opposing it might be valid, but that legal invoice is still due, so crying over it with ‘tide of mounting legal costs, which the people of Lancashire will have to pay for‘, especially when you consider that “in view of the ridiculous comments from LCC’s Labour group, it should be borne in mind that the decision to seek tender for the provision of health services for Lancashire’s children and young people was actually taken by cabinet in February 2017, and both Couns Ali and Fillis were members of that cabinet“, so basically it was a decision that has suddenly hijacked by a minority and they are crying for the setting of cost? Go cry me a river, please!

It is in that setting, where politicians (especially labour) was lax with spending, squandered billions upon billions and they thought the Virgin train would pass them by. Now as this is not the case, not only do we see larger changes, there is the valid concern that mere niches are saved and a much larger setting still goes into the drink. If there is one setting that might change it is by taxing every person an additional £1 per payslip to save the NHS. It seems like a little, but with currently 32.2 million people working, that could add up to £65 million per fortnight. It might not be a lot, but it is a start and with that start you can begin to create momentum for the NHS that is by the way separate from all other funding due to the NHS. The question will people accept it? I reckon that when the NHS actually starts getting healthier, they will live with the loss of £1 each person, each payslip. It might have been pennies, initially, but that was 2 years ago, now we either act or lose a lot more and this is with VirginCare in place. Without it, and with the lack of restructuring the losses will be close to monumental, the simple impact of inaction, we can argue that the Conservative government is taking the easy way out, but is there any alternative? You merely need to look at what we can call a hijack by both Couns Ali and Fillis to realise that there are two in a setting that is much larger and those loses and those legal ramifications as well as the actions that followed is more than a sign of the times, it is a sign of high cost and zero impact desperation, that whilst actual working actions to get the NHS in a better place was ignored to one side and mismanaged on the other side by Labour in the 1997–2007 frame.

At present for Virgin, VirginCare is merely a starting point that can go a much larger route within the next 4 years, in the end, without an NHS, what will people do? I wonder how many remain in denial of that setting, yet it has been a more and more realistic setting. The simple setting is that almost two trillion in debt means that annually at present £68 billion is required for interest alone. Even as Net borrowing is down to almost 28% of what is was in 2010, the setting is that there is a massive debt and it is impacting everything (and the NHS not in the smallest setting). Only be diminishing that part can the UK move forward, which is a lot better than the EU is seeing at present, their debt will make them slaves to the banks for decades. You see, linked to all this is not merely what the government has, but the fact that “The 28 member states of the European Union (EU) have a total debt burden of €12.5 trillion, which could be even bigger, according to the latest figures from the EU statistics office, Eurostat“, in light of the UK being one of the big four, it implies that the rest of the EU will have to deal with the €10.7 trillion debt. How quick do you think they will be able to deal with that? That is why Brexit mattered, in light of the NHS being cut to a bare minimum, it is more and more a setting that Europe could more likely than not end up with not having any healthcare at all, so where would you prefer to be? In light of all that, Virgin might end up with a large gain, but at least there will be some healthcare, a part that too many are ignoring. Would it have been better to keep it all in the NHS? No doubt, but if you want to eat at the Ritz, you better have a fat wallet and the governments from 1997 onwards have all been part of blunders that ended the UK at minus 2 trillion, did you think that was going to go away because the news did not make mention of it? Consider Forbes who gave us not only that French and Italian health care is really good under normal conditions, in Italy (regarding the article), “I have never heard of a child waiting for surgery on his arm.  He would have been placed on the operating room list and he would have been fixed as soon as feasible. There are plenty of more serious surgeries, like cancer cases or even cardiac care, that are put on hold for months in these types of healthcare systems“, the article (at https://www.forbes.com/sites/benjamindavies/2018/08/05/a-broken-arm-in-italy-waiting-for-surgery/#20de8a1f29b6) shows the setting in Italy, in addition, in France we have a similar setting and all over Europe there are similar pressures.

Getting back to the corporation in question, is VirginCare a force for good, or the opposite? I believe that it can be a force for good, but we need to realise that the people can only be treated when we consider that flexibility is required. The lack of resources that is already in play is one part, the political games that we see, whilst relying on the emotion of others is the second part and when the people realise that they have been had by the likes of ‘both Couns Ali and Fillis‘, and many others like them, when it comes out on the waste of resources that they enabled for, will these angry people picket at the front doors of these politicians, or is that not sexy enough?

So when we see the Virgin setting with: “We welcomed inspectors back on 4 July and they were very positive at the further progress we’d made since January in implementing our improvement plan, and gave us positive feedback about the improvements to the practice. We are awaiting the publication of an updated report in the coming months which will reflect this most recent visit“, we see that there is positive change, that there is progress. It will take time, because those expecting this change to be overnight, they are truly looney tunes. If you wanted immediate change, you should have gone after certain politicians as early as 2013, so don’t cry now, not when the choice is now limited between a crewcut and decapitation. The NHS setting is close to that extreme, and has been for some time.

 

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Cheese Pizza with Oregano

I love Pizza, I hardly ever get it, merely because the people here tend to rely on Domino’s and Pizza Hut and neither tends to be a true pizza (as I personally see it). As I walked through Sydney over the last week, it dawned on me just the massive lack of actual decent Pizza places in Sydney. It is almost like they are no longer in a sustainable environment. People got used to the cheap solutions two chains bring and they call it Pizza. All the people in the neighbourhood accepted it as the real deal and now, we forgot what true awesome Pizza is like. Now, I am a little off the wall here. I love my Cheese Pizza, with the 5 cheeses and loads of Oregano on top. So when I think Pizza, I always think of the Bravo Trattoria Pizza’s at Crow’s Nest, they are my favourite! Yet, is it about pizza, or the place, or what Pizza actually is? You see, it does matter when we consider the Financial Review (at https://www.afr.com/personal-finance/italys-debt-barely-sustainable-ubs-chief-economist-20180601-h10uun), we see here what I said weeks ago and last week to some degree. When we see “Italy’s debt-to-GDP ratio of 130 per cent is “borderline sustainable”, the UBS top economist says. There is a level of the primary budget surplus which keeps debt stable, and above which you can begin to pay down your obligations, Kapteyn explains. For Italy this figure is a surplus of 1.3 per cent of GDP, versus the actual surplus of 2 per cent. It’s a skinny buffer of around 0.8 percentage points which at current debt levels “doesn’t inspire confidence”, Kapteyn says“. That is merely the tip of the iceberg. The issue is not that it is Italy, it matters more that it is one of the big four. UK, France, Germany and Italy are the large economic suppliers of a 27 nation bloc where they basically represent well over 50% of the EU economy, the fact that they all are in deep debt does not help and the fact that the UK is getting out, or is that ‘was trying to get out‘? So when we see add the issues of the UK and now we see how the Italian issues are growing and France is not far behind. A 27 nation failure due to the inability to set proper budgets, deal with debt levels and add to that a failed economy jump start that is now close to 3 trillion Euro printed with no real prospects to pay for any of it. That revelation is why Italy seems to be vacating the union. The action by President Sergio Mattarella by rejecting the Eurosceptic finance minister and put in his place Giovanni Tria a pro-EU professor. This is perhaps the first setting where we see that voting is no longer an issue for any government, the holier than thou setting of protecting the Euro and the EU against all odds, whilst those in the EU commissions are massively overpaid is setting the foundation of a dangerous mindset. The issue that the AFR is bringing to light is “markets are not pricing in the risk of an Italian exit, they are repricing the risk of a Italian default“. I always rated the Iexit (aka iLeave) setting very low, the two populist parties in charge was not that realistic in 2016 and when Marine Le Pen was ‘surpassed’ by a former investment funds manager we were all wondering what would come next and I thought it would lower the chances of the populists in Italy. And the news is not getting any better. We see that with “The European economy hit a wall over the final months of last year, with growth dropping from a quarterly growth rate of 0.7 per cent to more like 0.4 per cent. Economists are unclear of the reasons for the slowdown, but broadly believed the European economy would quickly rebound“, the issue I personally see is ‘broadly believed the European economy would quickly rebound‘, not the slowdown. You see there is no evidence that there is an actual quick rebound. There is every chance that there will be a rebound, but it will not be quick. The fact that these so called experts are all thumbs when it comes to their forecasting and with 0.3% unaccounted for, we can see that they are in the dark or playing the bad news cycle. I personally believe it to be the second one. And the Italian issues are increasing. Not merely the debt settings, it is a changed political landscape. Even as Paolo Savona was replaced by Giovanni Tria, there is still “Mr Di Maio will be vice-premier and minister for labour and economic development, including trade policy. Matteo Salvini, head of the League, will also be vice-premier and interior minister in charge of immigration“. This we got from the Financial Times (at https://www.ft.com/content/79cf905c-64a8-11e8-90c2-9563a0613e56). This duo is going to be a lot more important than even I initially thought. They now have a handle on labour economic development and immigration will see larger changes. There is no way to predict whether that is good or bad. If we listen to people like George Soros we are instantly rejecting liberalism, because it is easy to be a liberalist when you are a multi billionaire, yet he had no issues to short sell US$10 billion worth of Pound sterling, earning a billion in the process during the 1992 Black Wednesday UK currency crisis. He did nothing wrong, he played the system when he could and make a billion. Things like that never go away and he must regard the EU zone as a very profitable short sell opportunity, which makes whatever he is trying to do dangerous, so in that light all his settings for “Best for Britain pushes for second referendum on Theresa May’s deal with EU“, a cause he is backing is very dangerous. In this by pushing the UK away from Brexit, the pressure on Italy decreases. The dangers become that irresponsible spending in the big four can go on for several more years and there is no way to control the ECB and their puppet masters. Unelected people deciding on the descent of financial futures in 27 nations that is how I personally see it. You can agree or disagree, yet ask yourself when was the last time that any European got a decent explanation on who of how the 3 trillion euro spend was going to be dealt with? You see over a decade in an economic setting that is close to the late 90’s, whilst keeping strict austerity in play all over Europe. There is quite literally no way that this will happen, because politicians will adjust their policy towards any speculative proclaimer of ‘the European economy would quickly rebound‘ economists, whilst not prosecuting them when they get it wrong (merely because making any claim of expectation is not a crime, is it?). A setting that the people have no chance of winning, hell, they won’t ever be able to break even on this. This shows that Brexit will be a hard, but the better way to go. When billionaires start proclaiming how bad it is and how ‘we all’ can get a better deal that is when you become afraid for your life and that is what is at stake. And we see this in the Australian Financial Review with ““creeping into the market”, Kapteyn says – “a potentially dangerous one”. After the glory days of 2017 in which investors basked in a globally synchronised upswing, markets are now faced with the potential return of the two-speed world economy: the US vs the rest“, so when we get “America’s economy is growing around 3.5 per cent; some independent analysts estimate growth as fast as 4 per cent. Europe is “at best” growing by 2 per cent“, that shows the dangers, because as George Soros is getting the winnings, the other players do not, from my point of view it is a form of leeching, leeching Europe dry for the term of a generation or better. You see again it is a personal view, it is why Best for Britain is getting the support, it is about delaying Brexit at the very least for as long as possible, merely because it stops the game people like George Soros are likely to be playing and when that stops Europe can start bringing things about, hopefully for the better, especially as the ECB will be forced to print money for all kinds of dubious reasons, dubious because kick-starting the economy after you printed 3 trillion to try it twice is just ridiculous, that money has to be paid back at some point and everyone is in denial about the latter part.

Yet this is still about Italy, not the UK. You see, Italians want what is best for Italy and I am fine with that, I believe in a healthy sense of national pride. Yet with “Italy’s debt-to-GDP ratio of 130 per cent is ‘borderline sustainable’” they are facing an ugly truth, Italy needs to face 5-15 years of Austerity, yet with the ECB trying to economically equalise Europe, at the cost of the big four, so it amounts to Italy trying on top of an economy for 60 million Italians, whilst they are weighted with invoices for close to 250 million Europeans who can’t be bothered to get their house in order. it amounts to giving an addicted gambler $500 whilst they are only allowed to use $10 for gambling, you tell me how long it takes for things to go really wrong, and that is pretty much a given on this situation. It was seen in the Netherlands 2012 and 2013, and now we see, when we look at the Dutch government statements with in September 2017 we see “The economy will grow by 3.3% in 2017 and a projected 2.5% in 2018“, we see the EU commission giving the Netherlands a ‘mere’ 3.2% last month for that same timespan. Now the 0.1% is actually pretty good, but it is still dangerous when it is a 0.1% in Italy, the issue is seen when we see that the Netherlands has a 65% debt level against Italy at 130% of GDP, and the Dutch are actually in a much better position, so the 0.1% is no actual pain level. Portugal, Spain, Greece, Belgium and Italy all have debt levels well over 100% of GDP, several other nations are somewhere between 60% and 80% of GDP, whilst France is at 99.8%. It is the debt levels that are excellent for banks and not so good for the people. You see, when the big four are required to pay €254 billion in interest each year and that is just the large 4, how do you think that this gets paid for? A decade of inability to set a proper budget and all this is before we consider the €3,000 billion that the ECB printed for what they call Quantative Easing. That is what Italy needs to get away from and at 135% they have the hardest job of all. So when you see that all that money goes all to the banks, short sold loans that they never had the money for to pay for can you see just how dangerous the George Soros setting is in all this? It all impacts Italy to some degree. These are not merely the facts; there is also presentation, representation and misrepresentation. The issue is in the Australian Review, it is the view of Arend Kapteyn. Yet where is he at when he gives us “We are only now at the beginning to find out how responsible or irresponsible [the new coalition government] are going to be on the fiscal side“, you see, the setting then becomes what is irresponsible? Being not pro Eurozone, being forced to default whilst the alternatives are just too unacceptable for the Italian people? So is he the pro greed setting, or the pro solution setting, because with such debt levels we can almost unanimously accept that these two choices are mutually exclusive. The most interesting political part is that Enzo Moavero Milanesi is now Minister of Foreign Affairs. I would have thought that the populists wanted that part for themselves, the fact that this post is now with an Italian independent is an interesting choice, if the populists can work with this setting and use it to maximise their economy by setting new option and opportunities, Italy gets an optional path where minimised immigration and maximised economy could have a setting where the Italian unemployment rates could fall to a number below 10% over the next 24 months (highly speculative on my side). If they pull that off, the entire euro sceptic setting could grow a lot faster than would have been possible with Paolo Savona in the mix.

No matter how you slice the Pizza, the factual and actual quality Italian dish is under massive amounts of pressure on several sides and any Italian thinking that their life will get better in the short run is just gobbling down a [Unnamed Franchise] Pizza, bland food that look like a UFO and tastes not as great. The fact is that like Germany did earlier this decade, Italy will know 5-10 years of hardship, yet when persevered Italy could have an actual growing economy for a much longer time, something to look forward to (if you are Italian). Can this government pull it off? That is hard to say because it has been shown that the actions of the ECB are close to non-stoppable and that will still impacts the bottom line. It is good for America and George Soros in the short term, yet after that they will not care and Europe will not be going anywhere ever soon. That danger is just ignored all over the place. Just 2 days ago the Financial Times also gave us “There are still two weeks to go before Riga, but naming an end date for QE right now would be like the ECB shooting itself in the Italian boot,” said Carsten Brzeski, economist at ING-DiBa. “The Italian situation has tilted the balance towards the doves [and] clearly calls for the ECB to keep its options open and even to make clear that they will extend QE at least until December” (at https://www.ft.com/content/dd6b5d70-6413-11e8-90c2-9563a0613e56), which is already an extension of well over a year. so when we see “The ECB has pledged to reinvest an average of €15bn a month over the first four months of next year, using the proceeds of government bonds bought under QE that have now matured” in that same article, we need to consider ‘bonds that have now matured‘, so that danger is seen in the Spanish setting where we see from some sources: “Spain will have refinancing requirements that exceed €300 billion per annum before 2022. In 2018, 41.2 billion euro, in 2019, 82.4, in 2020 83.9 and in 2021 58.5 billion euro, with 60.4 billion maturing in 2022“, so this fiscal year Spain will be required to find €41 billion, or increase taxes or cut services, and it will be twice that amount next year around, so how exactly is Spain in a setting to get the economy back whilst the debts are rising beyond normal control? Italy faces “84 billion euro maturities in 2018, 161 billion in 2019, 164 billion in 2020 and 172.5 billion euro in 2021” do the Italian people know that they are in such deep and hot waters? I wonder, and when they get confronted with that part of the bad news cycle, what will the previous and opposition then proclaim? I wonder if we will see true honest coverage on that blame game. I will order a decent Pizza to watch that unfold, because there are merely the two larger players in the EU-debt zone bloc confronted with the hardships that will hit them hard. Pushing these debts forward is just not a workable solution, not when the debt exceeded 130% of GDP, if you doubt my words, just talk to the average Greek in Athens and ask him how his quality of life is nowadays.

So as you wanted that your slice of life included a slice of pizza, consider the 99% in Italy who soon face the reality that they are no longer able to afford that for a long time to come.

 

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It’s a kind of Euro

In Italy things are off the walls, now we see ‘New elections loom in Italy‘ (at https://www.theguardian.com/world/2018/may/27/italys-pm-designate-giuseppe-conte-fails-to-form-populist-government), where it again is about currency, this time it is Italy that as an issue with ‘country’s Eurozone future‘. In this the escalation is “the shock resignation of the country’s populist prime minister-in waiting, Giuseppe Conte, after Italy’s president refused to accept Conte’s controversial choice for finance minister“, there is a setting that is given, I have written about the folly of the EU, or better stated, the folly it became. I have been in favour of Brexit for a few reasons, yet here, in Italy the setting is not the same. “Sergio Mattarella, the Italian president who was installed by a previous pro-EU government, refused to accept the nomination for finance minister of Paolo Savona, an 81-year-old former industry minister who has called Italy’s entry into the euro a “historic mistake”“, now beside the fact that an 81 year old has no business getting elected into office for a number of reasons, the issue of anti-Euro Paolo Savona have been known for a long time. So as pro-EU Sergio Mattarella decides to refuse anyone who is anti-EU in office, we need to think critical. Is he allowed to do that? There is of course a situation where that could backfire, yet we all need to realise that Sergio Mattarella is an expert on parliamentary procedure, highly educated and highly intelligent with decades of government experience, so if he sets his mind to it, it will not happen. Basically he can delay anti-EU waves for 8 months until after the next presidential elections. If he is not re-elected, the game changes. The EU has 8 months to satisfy the hearts and minds of the Italian people, because at present those options do not look great. The fact that the populist choices are all steering towards non-EU settings is a nightmare for Brussels. They were able to calm the storm in France, but Italy was at the tail end of all the elections, we always knew that, I even pointed it out 2 years ago that this was an option. I did mention that it was an unlikely one; the escalating part is not merely the fact that this populist setting is anti-EU; it is actually much stronger anti Germany, which is a bigger issue. Whether there is an EU or not, the European nations need to find a way to work together. Having the 2 larger players in a group of 4 large players is not really a setting that works for Europe. Even if most people tend to set Italy in a stage of Pizza, Pasta and Piffle, Italy has shown to be a global player and a large one. It has its social issues and the bank and loan debts of Italy don’t help any, but Italy has had its moments throughout the ages and I feel certain that Italy is not done yet, so in that respect finding common ground with Italy is the better play to make.

In all this President Sergio Mattarella is not nearly done, we now know that Carlo Cottarelli is asked to set the stage to become the next Prime Minister for Italy. The Italian elections will not allow for an anti-EU government to proceed to leave the Euro, Sergio’s response was that: “he had rejected the candidate, 81-year-old Eurosceptic economist Paolo Savona, because he had threatened to pull Italy from the single currency “The uncertainty over our position has alarmed investors and savers both in Italy and abroad,” he said, adding: “Membership of the euro is a fundamental choice. If we want to discuss it, then we should do so in a serious fashion.”” (at http://news.trust.org//item/20180527234047-96z65/), so here we all are, the next one that wants to leave the Euro and now there is suddenly an upheaval, just like in France. Here the setting is different, because the Italian President is Pro-EU and he is doing what is legally allowed. We can go in many directions, but this was always going to be an unsettling situation. I knew that for 2 years, although at that stage Italy leaving the EU was really small at that stage. Europe has not been able to prosper its economy, it merely pumped 3 trillion euro into a situation that was never going to work and now that 750 million Europeans realise that they all need to pay 4,000 Euro just to stay where they are right now, that is angering more and more Europeans. the French were warned ahead, yet they decided to have faith in an investment banker above a member of Front Nationale, Italy was not waiting and is now in a stage of something close to civil unrest, which will not help anyone either. Yet the economic setting for Italy could take a much deeper dive and not in a good way. The bigger issue is not just that Carlo Cottarelli is a former International Monetary Fund director. It is that there are more and more issues shown that the dangers are rising, not stabilising or subsiding and that is where someone optionally told President Sergio Mattarella to stop this at all costs. Part of this was seen in April (at https://www.agoravox.fr/actualites/economie/article/a-quand-l-eclatement-de-la-203577). Now the article is in French, so there is that, but it comes down to: “Bridgewater, the largest hedge fund (investment fund – manages $ 160 billion of assets) of the world has put $ 22 billion against the euro area  : the positions down (“sellers”) of the fund prove it bet against many European (Airbus), German (Siemens, Deutsche Bank) French (Total, BNP Paribas) and Italian (Intesa Sanpaolo, Enel and Eni) companies, among others. The company is not known to tackle particular companies, but rather to bet on the health of the economy in general“. So there is a partial setting where the EU is now facing its own version that we saw in the cinema in 2015 with The Big Short. Now after we read the Intro, we need to see the real deal. It is seen with “Since 2011, € 4 billion has been injected into the euro zone (that is to say into commercial banks) by the European Central Bank (ECB), which represents more than a third of the region’s GDP. The majority of this currency is mainly in Germany and Luxembourg, which, you will agree, are not the most difficult of the area. More seriously, much of this liquidity has not financed the real economy through credit to individuals and businesses. Instead, the commercial banks have saved € 2,000bn of this fresh money on their account at the ECB until the end of 2017 (against € 300bn at the beginning of 2011) to “respect their liquidity ratio” (to have enough deposit in liquid currency crisis).As in the United States, quantitative easing allowed the central bank to bail out private banks by buying back their debts. In other words, the debts of the private sector are paid by the taxpayer without any return on investment. At the same time, François Villeroy de Galhau, governor of the Banque de France, called for less regulation and more bank mergers and acquisitions in the EU, using the US banking sector as a model.” Here we see in the article by Géopolitique Profonde that the setting of a dangerous situation is escalating, because we aren’t in it for a mere 4 billion, the Eurozone is in it for €3,000 billion. An amount that surpasses the economic value of several Euro block nations, which is almost impossible to keep with the UK moving away, if Italy does the same thing, the party ends right quick with no options and no way to keep the Euro stable or at its levels, it becomes a currency at a value that is merely half the value of the Yen, wiping out retirement funds, loan balances and credit scores overnight. The final part is seen with “The ECB also warns that the Eurozone risks squarely bursting into the next crisis if it is not strengthened. In other words, Member States have to reform their economies by then, create budget margins and integrate markets and services at the zone level to better absorb potential losses without using taxpayers. A fiscal instrument such as a euro zone budget controlled by a European finance minister, as defended by President Emmanuel Macron, would also help cope with a major economic shock that seems inevitable. Suffice to say that this is problematic given the lack of consensus on the subject and in particular a German reluctance. The European Central Bank has issued the idea late 2017, long planned by serious economists, to abolish the limit of € 100,000 guaranteed in case of rescue operation or bankruptcy bank (Facts & Document No. 443, 15/11 / 17-15 / 12/17 p.8 and 9)” (the original article has a lot more, so please read it!

It now also shows (read: implies) a second part not seen before, with ‘The European Central Bank has issued the idea late 2017, long planned by serious economists, to abolish the limit of € 100,000 guaranteed in case of rescue operation or bankruptcy bank‘, it implies that Emmanuel Macron must have been prepped on a much higher level and he did not merely come at the 11th hour, ‘the idea issued late 2017’ means that it was already in motion for consideration no later than 2016, so when Marine Le Pen was gaining and ended up as a finalist, the ECB must have really panicked, it implies that Emmanuel Macron was a contingency plan in case the entire mess went tits up and it basically did. Now they need to do it again under the eyes of scrutiny from anti-EU groups whilst Italy is in a mess that could double down on the dangers and risks that the EU is facing. That part is also a consideration when we see the quote by Hans-Werner Sinn who is currently the President of the Ifo Institute for Economic Research, gives us “I do not know if the euro will last in the long run, but its operating system is doomed“, yet that must give the EU people in Brussels the strength they need to actually fix their system (no, they won’t). The question becomes how far will the ECB go to keep the Eurozone ‘enabled’ whilst taking away the options from national political parties? that is the question that matters, because that is at play, even as Germany is now opposing reforms, mainly because Germany ended up in a good place after they enforced austerity when it would work and that worked, the Germans have Angela Merkel to thank for that, yet the other nations (like 24 of them), ignored all the signs and decided to listen to economic forecast people pretending to be native American Shamans, telling them that they can make it rain on command, a concept that did not really quite pan out did it? Now the reforms are pushed because there were stupid people ignoring the signs and not acting preventively when they could, now the Eurozone is willing to cater to two dozen demented economists, whilst pissing off the one economy that tighten the belt many years ago to avoid what is happening right now. You see, when the reform goes through Berlin gets confronted with a risk-sharing plan and ends up shouldering the largest proportion of such a machine, that mechanism will avoid the embarrassment of those two dozen Dumbo’s (aka: numnuts, or more academically stated ‘someone who regularly botches a job, event, or situation’), whilst those people are reselling their idea as ‘I have a way where you need not pay any taxes at all‘ to large corporations getting an annual 7 figure income for another 3-7 years. How is that acceptable or fair?

So we are about to see a different Euro, one losing value due to QE, due to Italian unrest and against banks that have pushed their margins in the way US banks have them, meaning that the next 2 years we will most likely see off the wall bonus levels for bankers surpassing those from Wall Street likely for the first time in history, at the end of that rainbow, those having money in Europe might not have that much left. I admit that this is pure speculation from my part, yet when you see the elements and the settings of the banks, how wrong do you think I will be in 2019-2020?

So when we go back to the Guardian article at the beginning and we take a look at two quotes, the first “As the European commission unveiled its economic advice to member states last week, the body’s finance commissioner, Pierre Moscovici, said he was hoping for “cooperation on the basis of dialogue, respect and mutual trust”“. I go with ‘What trust?‘ and in addition with ‘cooperation on the basis of dialogue merely implies that Pierre Moscovici is more likely not to answer question and bullshit his way around the issue‘ and as former French Minister of Economy he could do it, he saw Mark Zuckerberg get through a European meeting never answering any questions and he reckons he is at least as intelligent as Mark Zuckerberg. when we see “Cecilia Malmstöm, said “there are some things there that are worrying” about Italy’s incoming government“, she sees right, the current Italy is actually a lot less Euro minded than the setting was in 2016-2017, so there is a setting of decreased trust that was never properly dealt with, the EU commissions left that untended for too long and now they have an even larger issue to face. So that bright Svenska Flicka is seeing the issues rise on a nearly hourly basis and even as we see the play go nice for now, they will change. I think that in this Matteo Salvini played the game wrong, instead of altering an alternative for Paolo Savona and replace him after Sergio Mattarella is not re-elected, the game could have continued, now they are busting head to head where Matteo is nowhere near as experienced as Sergio is, so that is a fight he is unlikely to win, unless he drops Italy on a stage of civil unrest, which is not a good setting for either player.

We cannot tell what will happen next, but for the near future (June-September), it is unlikely to be a pretty setting, we will need to take another look at the Italian economic setting when the dust settles.

 

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Go with a smile

OK, I will be honest, this morning, I saw news pass by and it made me giggle. It was the title, I swear, the title was enough, because below the surface it is actually a serious matter, yet the writer/editor of Arab News gives us “‘Spy cell’ in Saudi Arabia sought foreign financing“. In my mind, I saw the image of two freshman at Berkeley University in California, walk into a wealth managing corporation like Rothschild’s and tell the CEO, that they found a way to overthrow the government and if they could please get some funding (at http://www.arabnews.com/node/1306306/saudi-arabia).

I know, you are giggling now too, but that is what they title left me with, yet it is actually a lot more serious. You see, the Kingdom of Saudi Arabia is a monarchy. Like all monarchies there are set rules and regulations on what to do and more important what not to do. Anyone with a primary school education knows this, no rocket science involved.

Yet, below the title, under the image we see a caption that is very much a serious matter. With: “Saudi Arabia’s Presidency of the State Security arrested seven people for suspicious communication with foreign entities and actions against the state“, you see there are two elements in this the first is ‘suspicious communications‘, which is optionally an element, yet ‘actions against the state‘ is actually quite clear. The question is how it all fits together, and make no mistake, there is a clear setting that it applies to a hell of a lot more people than merely those in the KSA, so you better wake up fast.

The elements of worry are seen in the first paragraph. Here we see “sought to “incite strife by communicating with foreign entities hostile to the Kingdom and to establish a false legal organization, according to information received by Asharq Al-Awsat from informed sources“, it could impact a lot more people than you think. In light of the escalations of Vision 2030 as well as the setting in Neom, we are bound to get a few cowboys trying to strike it rich (I am definitely one of them), in a setting of a total amount of close to $800 billion, or $800,000,000,000, I too will happily try to pick up a few coins, I will as the non-greedy person that I am happily settle for 0.001% or $8,000,000. I have a weapon system, an idea to make an Iranian nuclear reactor do the runaway on its own operators (by using the principle of a snow globe), which is my way of telling Steven Walker from DARPA that his behavioural sciences degree is not that useful in a nuclear physicist setting (nyuk, nyuk, nyuk), no negativity on Steven Walker though, he is slightly smarter than most smart cookies, and in addition to the earlier two ‘solutions’, I also considered a solution that I thought up to solve the UK NHS issue, which actually has a lot more applications under 5G.

I am not digressing, you see, these idea’s all need funding, now there are a few players with ideas that are all good and proper and in the 11th hour one of the backers walks away (reason is irrelevant), so now this (young) upstart needs to fix things fast to get its fingers in the Saudi Arabian treasury till of Vision 2030/Neom. In this he reaches out and he finds an interesting backer and meets with an entrepreneur in Qatar, now we have close to the same setting as we just read. Qatar and the Kingdom of Saudi Arabia are not really on good terms. Now add a few emails that skates around the funding and we have a setting that might be seen by Saudi Arabia as a worry, when we consider that Qatar has its own ‘Smart Digital plan‘ for 2030 we get a setting that some people might consider selling their idea twice. It is not far-fetched and it is definitely on the minds of close to a dozen growth driven people in Silicon Valley. Now we have a very different ballgame and that is not even considering those people who have been working as 3rd party developers for places like Palantir; anyone of those developers when they approach both Saudi Arabia and Qatar might be seen as just such a transgressor.

We forget that each nation has its own set of rules and even as some think that they are ‘shielded’ as they are American or perhaps Commonwealth citizen, they better wake up fast and realise that in national interests, it is the nation where you are where you need to adhere to settings. This works in both directions. We see this with “Dr. Ibrahim Al-Nahas, member of Shoura Committee Council on Foreign Affairs, told Asharq Al-Awsat on Saturday that the Kingdom is capable of overcoming many security challenges due to the vigilance of its security apparatus“, I do not for one moment disagree with Dr. Ibrahim Al-Nahas, for the most merely due to a lack of data, yet what he optionally forgets is that this system is going to get tested more and more over the next 5 years from all the parties who are trying to get an option to what we should consider is the largest technological jackpot in the last 25 years. We have not seen the option to such opportunities since the beginning of Windows 95, so there will be a massive flock of cowboys trying to land a deal with numbers optionally up to 9 zeroes behind a number, so you better believe that thousands of ‘innovators’ will come with their idea of a lifetime, which could potentially swamp the security apparatus.

In case of the article, it is about seven people who have been active to facilitate by acts that are considered “hostile to Saudi Arabia, to receive financial support in exchange for continuing to incite trouble”, which seems to be a decently clear setting. Yet it will not always be that clear when we see “It said authorities detected coordinated activities by a group of people, who carried out organized work to violate the religious and national principles of the Kingdom“, in the setting as quoted, there are a number of issues, religious principles being the first one that carries weight, because most cowboys seem to forget that Saudi Arabia is a Muslim state, as such it acts on religious settings. That is also the case in America where they have the pledge of allegiance, which gives us “I pledge allegiance to the Flag of the United States of America, and to the Republic for which it stands, one Nation under God“, this is important, because many nations have something similar. So when someone noticed that McDonalds in Saudi Arabia advertised “We renew our allegiance and obedience for his royal highness, the servant of the two holy mosques, King Salman the son of Abdul Aziz Al Saud, and we support Amir Mohammed bin Salman, his son, to become Minister of Defence and Prime Minister and to be nominated as successor.  God give him wisdom and equip him to rule his kingdom. With peace and prosperity, McDonald’s“, in this the response by someone who appears to be a Canadian, we see “Ads in Saudi Arabia placed by @McDonalds pledging allegiance to the new crown prince….am I the only one that finds this totally bizarre?“, I think that he did nothing wrong, even as he thinks it is weird, but when you are so far removed from a true monarchy setting, you forget small things. I too when I was in my military time had to make the pledge of allegiance, which in my case was to pledge allegiance to the monarch, obedience to the law and subject to martial law  with: “Ik zweer trouw aan de Koningin, gehoorzaamheid aan de wetten en onderwerping aan de krijgstucht. Zo waarlijk helpe mij God Almachtig“. Even as martial law no longer applies to me, I still feel that my oath obliges me to come to the aid and protection of the Dutch royal family until my dying day. It is something we accept, it matters to us, to any monarchist. So it is the same in Saudi Arabia and you better believe that (roughly) 99.99992% of these citizens will comply and enforce that oath on all those (citizens) who think they need not do that.

I feel that global businesses forget about such settings and they are optionally shooting themselves in the foot by not educating their staff members when having to go to such places. It matters because we all make mistakes and there are transgressions which are usually forgiven (unless you make an error under paragraph 322(5) under UK immigration law, then you are truly screwed), yet when you make mistake after mistake, even unintentional, merely because you come from a very different environment, you could end up burning the brand you represent permanently in that nation, which might be a nice little challenge for Apple, Google and IBM to survive. Although IBM is more business strict, but the Apple and Google mindset might find it increasingly hard to adjust and that is where losses are made, really large losses I might add.

So even if you are laughing now on the ridiculous setting I am offering, you better realise that the law in not a funny matter in Saudi Arabia. It is set to be written as “Saudi Arabia is a state built on the foundations of justice and it enshrines the principal of equality for all before the law”, you better realise that within many nations there is a consideration on what defines ‘foundations of justice‘. According to some sources Saudi law in theory allows that the ruling of a death sentence is a real setting, now we can understand that we know not to commit murder, yet in that same setting Espionage and Treason also gets your head separated from your body just like in: ‘off with their heads!‘ (Quoting the Queen of Hearts from Alice in Wonderland), now in the technological setting that is happening at present in the beginning of the article, the involvement of Qatar (fictive example), treason and espionage are actual options now coming to the surface? Now we all know that being well prepared stops such things from happening, yet who knew that Adultery and Waging war on God are equally punishable? So when you think that you have a nice option for Saturday night in your hotel room, did you realise that if you live by ‘it doesn’t count in you are in another country‘, your future might end up a little more grim than when you got out of bed that morning? And that is even before we get to Waging war on God, which is an issue on several levels. You see unless you have a clerical mind, the dangers of waging war on God is an open field, you can be transgressing this unknowingly if you are a Christian and that is something one must be prepared for so that it can be avoided.

If I understood it correctly the ḥirabah is seen as ‘enemy of God‘. The reference is seen in verse 33 of Surah al-Ma’ida of the Qur’an. It sets punishment for “those who wage war against Allah and His Prophet and strive to spread disorder in the land“, yet ‘disorder in the land‘ is a much wider concept nowadays then when what it was in those ancient days. We see that wisdom when we look back to those days as ‘banditry in open country: a uniquely destabilizing threat to civil order in a pre-modern society’. You might think of it as folly, yet in those days when towns relied on commerce and traders, banditry could have far-fetching consequences for the entire town, perhaps even the region. You only have to look at the movie ‘Kingdom of Heaven‘ a Ridley Scott masterpiece to see what a massive destabilising factor the Christian knights and people tended to be in those days. They were basically whoring and pillaging whenever possible (basically every waking hour), and no one considers the impact that left the Muslim Arabic nations?

This all matters because when you are trying to tap into the wealth that Arabia as a whole is offering, you better know what you are in for, you better be prepared and you also better leave some of your values (or lack thereof) at home. The setting of this stage seems all too appealing, yet many nations have a clear legal directive and as I have been hearing some of the conversations around me, it seems to me that some have not considered the impact they are setting their perception, what they think is happening and what is perceived. So when I heard someone say “go there, smile a lot and make a fortune. It works in japan“. Now, I am not certain whether that would work in Japan to that degree, I am decently certain that they will lose a lot more than they bargained for when they are totally unprepared going to Saudi Arabia thinking that they strike gold with a mere presentation and a smile. Because the wrong presentation can easily be perceived and what you thought was a nice idea in the end brought chaos in the land, good luck setting up your defence at that point.

I believe that good business is always available in every nation; the wisdom is to comprehend the rules of that game in that nation and abide by them, not as best as you can, but completely. In the age of compromise I think the current generation is oblivious to that danger, they have been so used to go by ‘let’s compromise’, not everyone is willing to do that. In this considering John Braithwaite’s excellent work ‘Corporate Crime in the Pharmaceutical Industry‘, it is not about the pharmaceutical part, the issue is the setting of corporations. By the time that you have gotten to chapter 4 (fraud in the safety testing of drugs) or chapter 5 (criminal negligence in unsafe manufacturing of drugs), by that setting you will have seen close to a dozen issues that could perceive you as the party responsible for creating ‘disorder in the land‘. This is merely a academic setting, I am not an Saudi Attorney, I have no experience in practicing Muslim Law, but these were the questions that formed in my mind and In all this I see a clear element missing in all the presentations that passed my eyes, seeing them scrutinised in a setting of Islamic Law seems to be important, because the law in Saudi Arabia is not set in the Crimes Act, the Data Protection Act, the Human Rights Act or the Mental Capacity Act. It is set through the Quran and that is a very important distinction.

For the most, when people are going for the jackpot, they tend to be as prepared as possible, yet in all this, more than just a few have forgotten that it is not merely a presentation, they better be aware of the legal lay of the land, as well as the social and personal norms that are required in Saudi Arabia (as with every nation you want to do business), we seem to look at the EU where almost anything is valid and not illegal, as such they forget that there are places where that approach will not work.

Did I get all this from a mere reference to a Spy Cell in the Arab News? Well, not exactly! I had been looking at parts of this for a little while, merely because some settings require investigation on any level, and the more I had to dig into certain messages the more I was confronted with people quoting the Quran, which came to a focal point when I was confronted with ‘French Proposal to Change the Quran’, which was from early may this year in the Atlantic. Apart from the blasphemy that it represents, which passages from the Bible regarding slavery or women as servants of their husbands have been removed in the last 50 years?

Opposition of such views was given by Tareq Oubrou, the prominent French imam who oversees the Grand Mosque of Bordeaux. Here we see “the notion that anti-Semitism is built into Islam is “theologically false,” he added. As monotheistic “People of the Book,” Jews and Christians enjoy a special status in Islamic law. Historically, they were considered protected dhimmi communities, which meant they were allowed to practice their own religions, although they were subject to a tax and various indignities that symbolized their subordination to Muslims”, by the way, this was an act that Christians did to the Saracens in Italy (also seen in ‘Kingdom of Heaven’), so let’s not throw mud when we know that we have done the same thing.

In the end, wherever you go, feel free to go with a smile and be prepared for what you face, knowing the legal and religious lay of the land is a rather important step that most seem to ignore, it might not matter in all places, but not preparing in places where issues like that do matter is merely the greater folly.

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Iranian decisions

At 00:10 Tel Aviv Time, roughly 07:10 here, the time of waiting was over, Iran has fired its missiles on Israel making the outstanding option of an impending war a lot more realistic. In this the Guardian gives us (at https://www.theguardian.com/world/2018/may/09/iran-fires-20-rockets-syria-golan-heights-israel) “Iranian forces stationed in Syria fired approximately 20 projectiles at Israeli military positions in the Golan Heights just after midnight on Thursday, Israel’s defence forces (IDF) said“, in addition we see “Several but not all rockets were intercepted by Israeli air defences, an IDF spokesman, Lt. Col. Jonathan Conricus, told reporters“, whatever happens, will happen soon, because if sch a barrage cannot completely be stopped, we can deduce that it will not take long for Iran to take a more targeted notion, yes, my version is speculative, yet the warmongering words from the last weeks gives rise to take it all a lot more serious than it has been taken in the past. So when we see ““The IDF views this Iranian attack very severely,” Conricus said. “This event is not over”“, we better believe that more is to come. There is an additional setting, this attack could only have been done with the approval of President Bashar al-Assad, so he is feeling secure enough with Iran and Russia backing him, so the picture changes on a few fronts, this is no longer merely settling whatever Iran thought it was settling, this could have much larger repercussions. Turkey is already voicing support for Iran and siding with Russia (they are playing their hand cautiously, yet Turkey is all in with their anti-Israel views. It gets to be worse, because as the US pulled out of the nuclear Iran accord, we now see ‘EU rushes to arrange crisis meeting with Iran over nuclear deal‘ (at https://www.theguardian.com/world/2018/may/09/eu-moves-to-protect-european-firms-from-us-sanctions-on-iran), so even as we know that there are several things wrong, even as Iran meddled in other business and now is responsible for direct missile attacks on Israel, we see that Europe is still trying to make some level of a deal with Iran. It goes even further when we see “Work on the package being coordinated by the European Union is at an early stage, but the EU is being urged to warn the US it will impose countersanctions if the US attempts unjustifiably to cripple EU firms trading with Iran“, yet the foundation is that there has been more and more overwhelming evidence that Iran has not been dealing in good faith. When we consider the earlier settings that I mentioned 3 days ago in ‘Stopping Slumber, Halting Hesitation‘ (at https://lawlordtobe.com/2018/05/07/stopping-slumber-halting-hesitation/), we can just quickly decide that they were prepping for all this, which would be incorrect, yet the fact that 20 missiles got there so quickly to be fired on the Golan heights also indicates that there was Iranian willingness to go that distance in several political branches and on pretty much all military levels, which is equally unsettling. The issue is that the EU remains a lot quieter when it comes to the involvement of Turkey. It is a personal view of mine, yet I believe that there will be diminished needs soon enough and there is a Turkey EU membership play coming. The beginning of ‘compliance delay messages‘ is merely an indicator, I believe that the fear mongering will get worse and too many parties are playing that game, that whilst the denial of Turkey into the EU should have been clearly made well over a year ago.  So when we are treated to “The European Union is scrambling to arrange a crisis meeting with Iran after Donald Trump pulled out of the nuclear agreement, as the Iranian president Hassan Rouhani said Europe had a “very limited opportunity” to save the deal“, we also need to keep in mind that terms like ‘could’ connected to ‘shut down UK’ on EU laws, this level of fear mongering is just beyond acceptable and we might all be better off in a direct war and whomever survives will suddenly demand near draconian treatment of the media, even as Leveson 2 is (for now) off the rails, the next crises will not go that smooth for whomever is demanding greater accountability of the media. That is not the only part, the entire Turkish economy and the S&P decision to regard Turkey. As it junkified its currency rating from ‘BB/B’ to ‘BB-/B’, we see a larger impact and when we consider that the Turkish lira (TRY) has fallen 7.4% this year and in that setting, including the corporate debt problems that Turkey is facing, the entire blow hard whilst they are not producing any music is more than merely wind in the air, as Turkish economic growth has been fueled by cheap international credit, we still see the need to pay for all that and now as we see (actually it was last month) with “Yildiz Holding—owner of the brands Godiva chocolate and McVitie’s biscuits requires a complete restructure of $6.5bn of its total $8.5bn of debt by the end of this week“, a cookie factory having an eight billion dollar debt? What else is in such disrepair? That shows just how desperate Turkey is at present to get into bed with almost anyone, that is what we are allowing in our midst and there is no level of fear that seems to be reflecting off the sides of EU Brussels and Strasbourg, which is also unsettling, now as they are optional diplomats in a really bad case of reconsideration by merely the EU to get the nuclear deal going, now we see the rise of mentions and soft press tapping on Turkish doors.

That alone should scare us beyond measure!

There is no case against it all and whilst Turkey is at a stage what some call ‘Hostage Diplomacy‘ whilst they are now upgrading their arsenal with the Russian S-400, the game switches and none of this will end up having a happy ending. For now we can leave Russia out of this as its focus is merely the US, or intermittent board hugging to make the US look bad via the EU, yet overall the setting here is not too negative (for now), the issue merely becomes hoe friendly it needs to remain with Iran in the mix, because there is the game on a different level. From my point of view there is a certain level of polarisation, even as Europe should stand next to Israel, it seems intent on standing ‘diplomatically‘ alone so that they need not stand opposing Turkey, that is merely one view, yet in light of its financial hardships and Turkish needs to be seen positive towards becoming an EU nation is not a good combination. So when we see the EU with “As long as Iran continues to implement its nuclear related commitments, as it has been doing so far and has been confirmed by the International Atomic Energy Agency in 10 consecutive reports, the EU will remain committed to the continued full and effective implementation of the nuclear deal“, which all might be very true, yet Iran has shown different colours in Syria and against Israel, so that stance is not merely wrong it promotes polarisation. On the one hand, the EU is not doing anything wrong from that one treaty point of view, yet in light of what we have seen in Syria, there are a lot more issues in play, not all are on Iran, some are allegedly issues for Iran to answer, but I wish to not use that in the examples, merely because they are allegedly part of anything, meaning they are part of nothing until confirmed and when we consider the utter uselessness on the last chemical attack reports, certain Syrian issues cannot be labelled to anyone but Syria itself. So as things in Syria escalates and as Iran is escalating them, or at least actively part of the escalation, the EU will need to take a stance sooner rather than later, they prefer later, yet when they are forced onto a corner and they select Turkey and Iran over Israel, the game will quickly change and not only is Europe feeling that drain, the impact that will happen in the middle East, is one that Europe will suffer for a much longer time than they bargained for and there is no quick solution for the wrong decision. That will be evident pretty soon at this stage.

So as we see one side evolve, we see in similar news from the Wall Street Journal (at https://www.wsj.com/articles/missiles-fired-at-saudi-arabia-signal-support-for-iran-by-its-proxies-1525886469) the mention “Iran-backed Houthi rebels in Yemen fired a barrage of missiles into Saudi Arabia on Wednesday, an early indication that Iran’s allies in the Middle East are likely to flex their muscles in a show of support for their patron—risking a wider conflict“, I think that these events which were apart by merely a few hours had some levels of coordination. So when we see “Yemeni army forces, supported by allied fighters from Popular Committees, have fired a salvo of domestically-designed and -developed ballistic missiles at “economic targets” in the Saudi capital city of Riyadh in retaliation to the Al Saud’s devastating military aggression against their impoverished country“, we need to keep a clear mind. The missiles are said to be Yemeni (Borkan H-2 missiles), yet the information on the H2 is that it is said to be a short range ballistic missile with normally a range of about 1,000 kilometres (620 mi) or less. Even as we see it is almost capable of making the 1,036 km to Riyadh, the setting that we see with ‘economic targets‘, whilst at the maximum distance, the chance of actually hitting what is aimed for at the maximum range is a lot less likely or possible, not without and ace rocket and ballistic expert at the missile site; the Houthi’s are a little short on both, so we have, in my personal opinion, either Houthi’s that want to hit any part (mainly civilian parts) of Riyadh and they merely claim to be aiming for a bank, or the optional more likely setting is that Iran has been directly involved in training the Houthi’s or firing the missiles themselves. Now, we can opt for option one, yet the training curve would be a little devastating on all minds involved (even if you use targeting computers and software, yet they have had the time to train the Houthi’s for months, so it is possible, yet I personally see it as less likely (again merely speculation from my side), so when we consider that Iran is waging war on two fronts, so far (as far as I can recall) only Napoleon and Adolf Hitler were that stupid and how did it end for them? There is an optional thought that Iran will be hiding behind European coat tails in the end, but that is still speculation without evidence (at present), perhaps that is why Turkey is in a desperate state to become part of the EU?

I am merely asking, because the Iranian decisions we are seeing over the last 24 hours give rise not to the US, but to other players hoping to wage ‘extreme’ solutions to make things go forward for them, whilst the opposing player has no intention of playing nice, the US can’t start another war and Iran might be hoping that the EU is too unwilling to see its economic setting dissolved through armed conflict. It would be a decent tactic to play, but for now it merely remains a setting of speculation. Yet, in all this, there is more than just saber rattling. When we look at Reuters we see “Turkey will continue its trade with Iran as much as possible and will not be answerable to anyone else, Economy Minister Nihat Zeybekci said on Tuesday, as U.S. President Donald Trump said the United States was withdrawing from the 2015 Iran nuclear deal“, so we see Turkey with an utter lack of accepting accountability for the economic paths that they are trying to get on (aka the EU gravy train). How can anyone expect Turkey to have any level of civility in the setting of economic partnerships? Because in the EU setting, we have seen more than one play where such acts would not have been allowed, yet Turkey is setting the pace to do just that. It is an important setting as it gives Iran a green light they should not have had, it is merely the outspoken voice to set the colour of options, and that colour is the one of explosive red. That is shown by others as the setting that is not to be allowed. Even as we understand that there is a setting that Italy, Germany and France do not want these sanctions to happen, we see that their voice gives “Patrick Pouyanné, the chief executive of the French energy firm Total, has already called for the EU to pass a blocking statute“, which makes perfect sense, and it is likely to happen, yet when we see the Turkish response with “Turkey will continue its trade with Iran as much as possible and will not be answerable to anyone else“, it merely shows that they are nowhere near ready to be allowed into the EU as a member state, because when they do something like this after they are admitted, the game changes by a lot and from that moment onward Turkey becomes merely the liability of the EU, not a member of the EU and there is a large distinct difference, even as we see them in the current setting for now, there is absolutely no guarantee that they will not continue on the undermining path that they are on, we have seen too many instances of Turkey acting that way that way in the last few years.

When we return to Iran we seem to be in deep water, not healthy waters by the way, the Riyadh/Golan actions are debatable at the very least and the fact that they are being mixed gives light to the dangers that are upcoming. Can they be avoided is the larger question, I am unsure of an answer, the fact that Yemen and Syria happened at almost the same time is a larger issue to contemplate and I have no factual useful response. Waiting for now is pretty much all we can do. I don’t think that we have to wait for too long as Israel has already announced retaliatory strikes a mere 15 minutes ago (source: Haaretz). So this cookie will not merely escalate, it is certainly the setting where other cookies get crumbled as well, the mere question is: “What are our options as per tomorrow, or the day after?

I do not know, when it comes to Yemen, we all (mainly the EU, NATO and USA) sat on our hands for far too long and they have made it part of the package deal. So the first act (at present) might just depend on how much Saudi Arabia feels threatened.

 

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Milestones

We all hope to make certain milestones, some through fantasy, some through luck and some through anticipation. Your first threesome, the moment you joined the mile high club and for governments they have their own achievements, for example when they join the 100% debt club. So when we realise that Japan has well over 200% of GDP in debt, the US has passed the 100% marker and it joins those they looked down on for the longest of times. Italy, Iceland, Granada, Eritrea, Greece, Jamaica and Lebanon, all members of that 100% debt club, so when we see the Arabian Business (at http://www.arabianbusiness.com/politics-economics/395741-100-debt-club-set-to-get-new-member-from-oil-rich-gulf), treat us to the facts that Bahrain will soon join Libya and the Sudan as their debt exceeds their 100% GDP. We see more and more messages at present and even the IMF is setting a different atmosphere. We see part of that in equities.com. There we see “IMF (Page 10): Against a backdrop of mounting vulnerabilities, risky asset valuations appear overstretched, albeit to varying degrees across markets, ranging from global equities and credit markets, including leveraged loans, to rapidly expanding crypto assets.
MY TRANSLATION: In the last two major bubbles, the problems were mostly contained to dot-com stocks and housing. That is 100% not the case now. Almost every single asset on the planet – from stocks to bonds to loans and more – is wildly overpriced. There is zero room for error with prices at such dizzying heights
“. This is merely one setting; the field is expanding on a larger field and in all this, the nations that are passing the debt bar. France is set at 99%, so if they cannot contain the debt growth they will pass it this following financial year, leaving only Germany as one of the four large economies that is in a containable situation and there is where we get a partial ‘I told you so!‘ You see I wrote on part of this 5 years ago. (at https://lawlordtobe.com/2013/05/15/a-noun-of-non-profit/), I made a reference in regards to Brexit, but the setting of it all was a lot larger than merely Brexit. So as you get to contemplate “Consider a large (really large) barge, that barge was kept in place by 4 strong anchors. UK, France, Germany and Italy. Yes, we to do know that most are in shabby state, yet, overall these nations are large, stable and democratic (that matters). They keep the Barge EU afloat in a stable place on the whimsy stormy sea called economy. If the UK walks away, then we have a new situation. None of the other nations have the size and strength of the anchor required and the EU now becomes a less stable place where the barge shifts. This will have consequences, but at present, the actual damage cannot be easily foreseen. Any claim that there is no consequence and they predict no issues, remember this moment! The Barge (as is), will lose stability and the smaller members thinking they are on a big boat are now thrown left to right then left again as the storm rages on. The smaller nations will get damaged and in addition, the weaker ones (Cyprus and Greece) could still collapse, especially if the UK takes a non EU gander“, this was predominantly regarding Brexit. Yet the implications are larger as I stated. The UK is taking on Brexit and now we see that the German anchor it the only anchor giving some stability, the UK is taken away, Italy has lost its footing as it surpassed the 100% debt and now France is pushing that boundary as well. All because it was easier to play the popular fool than taking a hard stance on their debts, France is not alone, Italy and the UK are all there, the smaller ones have no options to give strength to the large 4 and as the UK figured out that going it alone is much better for the economy, we see a dangerous setting.

Even now, when we merely consider Spain in all this (not the smallest economy), we see (at https://www.southeusummit.com/europe/spain/spanish-economy-returns-grade/) that Standard & Poor’s is still playing (what I personally see) as ‘their little game’. Perhaps you remember ‘S&P reaches $1.5 billion deal with U.S., states over crisis-era ratings‘ (at https://www.reuters.com/article/us-s-p-settlement-idUSKBN0L71C120150203) the one quote (one of many) needs to be considered “S&P parent McGraw Hill Financial Inc MHFI.N said it will pay $687.5 million to the U.S. Department of Justice, and $687.5 million to 19 states and the District of Columbia, which had filed similar lawsuits over the ratings“. So when I see “S&P notes that Spain’s overall economic and budgetary performance has not been hampered by political tensions in Catalonia, as many had feared. The country’s GDP increased by 3.1% in 2017 and last week the Bank of Spain raised its economic forecast for this year to 2.7%, up from a December forecast of 2.4%“, you see, the numbers are not really in question, yet when we see the image below (source: Trading Economics).

When we realise that none of the EU nations has a grasp on their debts, in addition, the GDP for Spain went down whilst it is still below the numbers of 2016 and before, there is actually no reason to see the credit rating for Spain go up. I am personally speculating that the EU will be so much more hardship when France hits the 100% debt marker. It matters, because this will soon become the academic exercise that the question: ‘What is the difference between cooking the books and creating a false positive wave through inflated credit scores?‘ I actually do not have the answer here, but I guarantee you that the quality of life in Europe is not moving forward any day soon, not until some issues are seriously reconsidered. In addition, the US-China trade war isn’t helping anyone, not even the Europeans so that will also become a factor of debate soon enough. It partially relates to “We have revised upwards our GDP forecasts, with an intense rate of employment creation and an economic model based on the external competitiveness of our companies. With this scenario, we will achieve our objective for 20 million employed people by 2020“, the issue is that it is misrepresentation, you cannot rely on the unemployment figures and then state we will have 20 million employed, because on a population of 46 million, he might be implying that the unemployment numbers will skyrocket from 17.4% in 2017 to 56%, that would be crazy, yet that is what we are told, is it not? The best lies (read: miscommunications) are done through statistics, so that the feather matches the bird one would say. Still, back to my speculation, I believe that Spain is not the only nation in this setting; I think that some numbers in pretty much every EU nation are beefed, weighted and set to make Europe (or basically themselves in the European setting) look much better, so when the UK leaves they will not look as weak and feeble as they have actually become. It is a setting that is way too dangerous. There is no way that Mario Draghi is not part of this, so when we look at the Financial Times of last week we see ‘Mario Draghi acknowledges ‘moderation’ in Eurozone growth‘ (at https://www.ft.com/content/3e20b49e-4939-11e8-8ee8-cae73aab7ccb). So with “Analysts said that Mr Draghi’s guarded language suggested that the ECB may wait until July — a month later than previously expected — to provide the markets with updated “forward guidance” on its plans to phase out the crisis-era stimulus“. I am a little less optimistic in regards to the quotes, and when we see ““Better safe than sorry was the motto of the day,” said Dirk Schumacher, economist at Natixis“. I personally tend to see that as:

Better safe than sorry
It allows for another day without worry
As we pile the worries and woes
To a stack we can blame on crows
Those at the London Tower are best
Because when they leave the EU we can make them the jest
And when our barge is no longer secure
We move to Wall Street where we can endure

You might think that I am merely making light of all this. The issue is that people in Europe seem to ignore that over €2,000,000,000,000 was printed without the validation of treasuries or consent of the people whose funds got devaluated even further. Do you think that printing money has no cost? It is money that the EU never had, so why did you think it came without consequence?

This partially (and I mean partially) is seen in different ways when we look at an article from Reuters merely two weeks earlier (at https://uk.reuters.com/article/uk-ecb-policy-draghi/stock-volatility-no-big-factor-for-ecb-so-far-draghi-idUKKBN1HG1VR) ‘Stock volatility no big factor for ECB so far – Draghi‘, now I agree that volatility will come and go, so the ‘so far’ part is perfectly fine. When we see ““While we remain confident that inflation will converge towards our aim over the medium term, there are still uncertainties about the degree of slack in the economy,” Draghi said in the ECB’s annual report“, now I can agree with that. There will always be a certain amount of uncertainty, that is all good, no issues there, but it is set on a certain premise. When we see that Spain (the only visible one) suddenly in opposition of what I see as real has its credit score increased and as such we see the start of an optional bubble, when others do the same we see the forecast on unreal values, so we see the bubble is not set to the reality of the actuality, at that point, when a lot more start realising that some numbers do not make sense, the uncertainty grows and the closer the UK is to leaving the stronger that uncertainty becomes. At that point we see a run and a total collapse, when that happens, when the people realise that pensions before 78 is no longer optional, do you think that the people will remain calm? When they realise the impact of €2 trillion printed cash is impacting the 26 nations, how much value decline will they face? When that happens, how will people react in all this? Now we get to two elements, one is the mention in the Financial Times where we see: “But the weak economic data for the first quarter have triggered increasing speculation that the first interest rate rise will be delayed until later in 2019. A smaller number of analysts are expecting the bank to continue QE into the new year“, the second is that the entire stimulus was to set the economy right, which did not happen, now set that against inflated credit scores, inflated economies and the downturn that follows, that will happen, it can no longer be contained, merely delayed to some extent. When it does hit Europe would not have a penny left to balance against and it will leave the bulk of Europe destitute. There would be no defence against the next downturn and that is when disaster will truly strike. So as the story is pushing towards ‘protectionism’ and ‘patent values’, we should also consider that impact. Now, as a University graduated Master on Intellectual Property rights, I do comprehend some of the issues, yet I am not a patent attorney, so there are parts that I will ignore or not look at. Consider that a national economy is now more and more dependent on the national patents and the represented value that they hold. Now we get European Patents, the Unified Patent Court (UPC) allows for a simpler way to get it all registered and to some extent enforced. So it is a good thing overall, there was never too much fuss about that side, yet the one strong economy (Germany) is now setting the stage to oppose the UPC, we see this (at http://www.ippropatents.com/ippropatentsnews/europenewsarticle.php?article_id=5725), where we also see “Alternative für Deutschland (AFD) has called for the repeal of the convention on a Unified Patent Court (UPC). AFD “rejects the EU patent law reform”, according to the German Bundestag, which announced the motion on 7 March“, I believe that overall the UPC is a good thing, but there will always be small interests that are not perfect, no EU setting is 100% positive, yet overall, to get one filing for all EU nations, in light that even the UK agreed (and ratified) is a good thing. So when we see “It was based on three grounds, mainly how the UPC Agreement violates EU law, the majority requirements of basic law, and does not comply with the rule of law principle related to judicial impartiality. The complaint was scheduled to be heard in 2018 by the second Senate, appearing as the 11th item on its agenda. In Germany’s 2017 federal election, the AFD won 12.6 percent of the vote and received 94 seats, the first time it had won seats in the Bundestag“, there is an academic setting, yet with 12.6 of the council in hands of the AFD, a very Brexiting minded party, or is that Berlout or Deutchleave, we need to realise that the patent issue is a lot more biting in Germany and that cannot be ignored, as they give rise to uncertainties. So when we get back to the uncertainty there, as well as other uncertainties, and whilst we saw Mario Draghi accept that uncertainty results in stagnation, how much more stagnations are required for the next downturn, even a short term one, whilst the economic reserves have been already been drained.

Now we have a much larger setting, the EU was never about everyone agreeing on everything and the economic setting that requires that to happen at present is also making the dangers of waves that sinks the barge called EU. Now, that seems like an exaggeration, but when you realise that the German anchor is the only one giving stability, you can see the dangers the EU faces and more important, the dangers of no reserves and an utter lack to keep proper budgets in place, a setting now in more danger for the reasons that I gave supported by the economic views of many others. I believe some are downplaying the impact, yet when we realise that EVERY European Union government is downplaying the economic impact (as every nation always wants to look as good as possible, which is a PowerPoint setting of the human ago) we get a much more dangerous setting. We accept that the smaller nations have a negligible impact on the whole, but on a ship that can only remain truly stable with four anchors, losing three is a much bigger disaster than anyone realises, and that downplay will hurt all the players that are part of the EU, so when the downturn starts, we will see kneejerk movements from all the nations, all the big players and we can only speculate the fear mongering speculations that the IMF will treat the European audience to. I have no idea what form it will take, but when it happens I will take a deeper look. In a setting where every negative economic milestone could lay waste to whatever reserves its citizens wrongfully thought they had in the first place.

 

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