More News, Rumors and Opinions Wednesday Evening 10-19-2022
KTFA:
Samson: The global economy is heading into the abyss
10/19/2022 15:45:23
A report published by the American "Politico" magazine concluded that "the global economy is heading to the abyss" due to the total crises that the world is going through and from which central banks and governments everywhere suffer.
The report said that what is remarkable about the total economic crises that the world is currently experiencing is that "for the first time in recent memory, the United States is not in a position to manage the process."
Soaring inflation, the Russian invasion of Ukraine, a looming energy crisis in Europe and a floundering government in Britain are "just a few of the components of a cube of disasters that central banks and governments face as they try to avoid painful recessions".
The report noted that while "a sense of dread" surrounded meetings of the International Monetary Fund and the World Bank last week in Washington, Kate Davidson and Victoria Gheda, the magazine's economics editors, reported that the United States is struggling to prepare a coordinated response, but the problem is that the United States, like other countries, is largely focused on trying to contain domestic crises.
The report says that the US Federal Reserve is at the fore in the storm of crises that the world is currently going through, as it raises interest rates and fuels recession risks in an attempt to control price hikes, which puts pressure on economies around the world.
“Ultimately, a lot of national policies are going their own way,” said Mark Sobel, president of the Forum of Official Financial and Monetary Institutions and a former US Treasury official. "The Fed will do what they usually do, and the Europeans will do what they always will," he added.
Politico notes that global financial leaders were divided on a range of issues and were three days late in issuing the G-20 statement based on this week's meetings. Among the differences: Russia's sanctions, global oil production and global currencies.
It is noteworthy that inflation rates recorded record levels in most countries of the world during the last period, including the United States, which prompted the monetary authorities in Washington to raise interest rates to reach record levels, which led to a significant rise in the dollar exchange rate, which affected other currencies and exacerbated the problem of inflation in other countries of the world. LINK
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Courtesy of Dinar Guru
Walkingstick [via Frank26] Question: "What is the procedure now that we've got the president and the prime minister how does the government get seated?" ...the next big thing you're looking for - we need Sudani to announce his government by giving us the names of his cabinet members...once we sit the government we have a budget, an exchange rate, we have a gradual increase...an un-pegging, and a controlled float. These are wonderful times that we are experiencing...
Humble1 Article: "Civil Aviation: Iraq will soon be free from international sanctions". Quote: "...during 2019, Iraq reached the rate of passing about 75% of the testing and auditing," stressing that "Iraq will pass the remaining percentage in the near future to get out of international sanctions.." A definite move in the right direction...
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TNT:
Tishwash: Al-Sudani concludes his mission today, and it is likely that the names will be announced at noon tomorrow
The leader of the Al-Fateh Alliance, Ali Hussein Al-Fatlawi, confirmed, on Wednesday, the success of the mission of Prime Minister-designate Muhammad Shia Al-Sudani in putting the final touches to his parliamentary formation, indicating that the names of the ministers will be announced tomorrow afternoon in order to study them in the House of Representatives before the Saturday session.
Al-Fatlawi said in a statement to "The Information", that "the Prime Minister-designate, Muhammad Shiaa Al-Sudani, is supposed to conclude today his mission in choosing his cabinet, and then announce the names of the ministers tomorrow, Thursday."
He added, "The announcement of the names of the ministerial cabinet and the government program on Thursday will allow the council members to study the names nominated for the cabinet for the purpose of voting on each name, whether affirmative or negative."
He added, "The ministerial cabinet will not be fully completed due to the failure of some political forces to send the five names to each position according to their due," suggesting that "the political forces will complete their mission by paying the five names within a few days so that the government moves in an integrated manner away from assigning agencies as it happened in the past." link
What the Heck Did You Think Would Happen After Printing $7 Trillion?: Kevin O’Leary
Stansberry Research: 10-19-2022
"None of the Fed's rate hikes have affected the consumer yet," and it's because of the excessive printing of U.S. dollars, exclaims Kevin O'Leary, widely known as "Mr. Wonderful." If we see a slowdown in earnings, "it'll probably be in Q1 or Q2 next year," he tells our Daniela Cambone.
O'Leary breaks down for investors why, "there is no question that it does matter what happens in the midterm elections." European banks are zombie banks, "and never went through the cleansing the U.S banks went through," he continues.
O'Leary concludes by dissecting the "three horsemen" of the Web3 movement and why it's critical for the future of decentralized money.