Downward World Economic Trend.
Its Sunday August 4, 2019. The world seems to be at a crossroads where its people and leaders can correct things for the better or continue down the road of Downward world economic trend to financial decline where only the rich survive. But, what kind of life would that be without the rest of us?
According to the New York Times, The headlines read: Stocks Have Worst Weekly Drop of 2019 as Trade War Rattles Investors. The S & P 500 dropped by -0.73% which was its 5th consecutive decline. Wall street declined as the Nasdaq fell 1.3%, the Dow 1.3%. The Russell 2000 index fell 1.1%. Global markets also fell. The Japanese Nikkei 225 index fell 2%, Britain’s FTSE 100 fell 2.3%.
The trend seems to be declining markets worldwide along with other related ominous news such as problems related to one of the largest banks in the world, Deutsche Bank. The failure of which would be “catastrophic” as stated by the renowned economist expert Richard D. Wolff. Once a global powerhouse catering to U.S. Elites from a tower on Wall Street such as Donald Trump and Jared Kusher now is announcing that they are cutting 18,000 jobs in efforts to survive.
The China trade deal also appears to have worsened instead of getting better. The Chinese were expected to buy more American agricultural products and stem the flow of fentanyl into the U.S.
Wang Yi who is China’s foreign minister told reporters that adding tariffs is not a way to resolve trade frictions, however, once again Trump has increased tariffs on $300 billion in goods.
In my opinion, many of these problems as a result of the effect of that Ponzi scheme central bank controlled monetary system instead of a real free market. Central Banks print paper money to loan to governments in return for interest on the same. So central banks sell debt generated by that paper which gives them profit for doing nothing, bury nations in ever increasing debt. This actually sound pretty stupid but this type system exists in most industrialized nations. From what I understand the nations not desiring to be under this debt driven system are countries like Russia, China, Iran, Venezuela, and Syria. The exact countries that the U.S. has sent it Military out to control. Let me know if I am wrong about this.
…(to be continued)