Forwarded from Multipolar Market
🇮🇹 Italy's economy unexpectedly contracted
Italy's economy unexpectedly contracted by 0.3% in Q2 compared to the previous three months – much worse than the zero growth that analysts had expected, and in contrast to overall expansion in the eurozone.
The slump was attributed to a drop in domestic demand, while net exports failed to contribute to growth. Industry and agriculture were particularly hit.
Italy's contraction casts a shadow over Giorgia Meloni, who just last week touted the economic policies of her government as driving faster expansion than France and Germany.
Furthermore, Meloni reportedly informed Biden personally last week that her government would exit China's Belt and Road Initiative to focus more on ties with the US.
The International Monetary Fund now projects that Italy's GDP will grow only 1.1% this year, down from a 1.4% forecast last month.
Weaker growth prospects and higher borrowing costs will make it more difficult for Meloni to keep Italy's mammoth national debt in check.
The debt-to-GDP ratio remains above 140% and is likely to stay little changed over the coming year, according to European Commission forecasts.
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Italy's economy unexpectedly contracted by 0.3% in Q2 compared to the previous three months – much worse than the zero growth that analysts had expected, and in contrast to overall expansion in the eurozone.
The slump was attributed to a drop in domestic demand, while net exports failed to contribute to growth. Industry and agriculture were particularly hit.
Italy's contraction casts a shadow over Giorgia Meloni, who just last week touted the economic policies of her government as driving faster expansion than France and Germany.
Furthermore, Meloni reportedly informed Biden personally last week that her government would exit China's Belt and Road Initiative to focus more on ties with the US.
The International Monetary Fund now projects that Italy's GDP will grow only 1.1% this year, down from a 1.4% forecast last month.
Weaker growth prospects and higher borrowing costs will make it more difficult for Meloni to keep Italy's mammoth national debt in check.
The debt-to-GDP ratio remains above 140% and is likely to stay little changed over the coming year, according to European Commission forecasts.
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Forwarded from Watcher Guru
JUST IN: 🇺🇸 Presidential candidate Ron DeSantis says "Biden's war on Bitcoin and crypto will end when I become president"
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Media is too big
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NEW - Wikipedia co-founder Larry Sanger says rank-and-file Wikipedians "don't care at all" about the platform's original neutrality policies.
https://rumble.com/v33nemd-system-update-121.html
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https://rumble.com/v33nemd-system-update-121.html
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Forwarded from ENTRE GUERRAS (Kraz (2.0))
🇪🇺🇳🇪🇲🇱🇱🇾🇸🇩Con el reciente cierre del espacio aéreo en Níger, provocado por el golpe de estado, se ha formado un nuevo problema para Europa.
Las aerolíneas europeas tendrán más dificultades para volar hacia el continente africano debido a la formación de una "barrera aérea" en el norte africano, aumentando significativamente el tiempo de vuelo para las rutas de norte a sur y viceversa entre Europa y África.
🇬🇧With the recent closure of airspace in Niger, triggered by the coup d'état, a new problem has arisen for Europe.
European airlines will find it more difficult to fly to the African continent due to the formation of an "air barrier" in North Africa, significantly increasing the flight time for north-south and vice versa routes between Europe and Africa.
▫️@ENTRE_GUERRAS▫️
Las aerolíneas europeas tendrán más dificultades para volar hacia el continente africano debido a la formación de una "barrera aérea" en el norte africano, aumentando significativamente el tiempo de vuelo para las rutas de norte a sur y viceversa entre Europa y África.
🇬🇧With the recent closure of airspace in Niger, triggered by the coup d'état, a new problem has arisen for Europe.
European airlines will find it more difficult to fly to the African continent due to the formation of an "air barrier" in North Africa, significantly increasing the flight time for north-south and vice versa routes between Europe and Africa.
▫️@ENTRE_GUERRAS▫️
Forwarded from Dissident Thoughts (𝕲𝖊𝖗𝖍𝖆𝖗𝖉 𝕾𝖈𝖍𝖗𝖆𝖉𝖊𝖗)
The Deep Recession of the 2020's
For the Fed to bring inflation down to 2%, it will take the destruction of a significant amount of wealth - something which an unprecedented pace of aggressive rate hikes has so far failed to do. To the Fed, losing control over price stability is unacceptable.
BlackRock revealed in their 2023 Outlook that "only a deep recession can effectively decouple the global economy from the risks of persistent inflation." The Fed continues to believe in the Phillips Curve, which plots unemployment as inversely related to inflation. A meaningful decline in inflation cannot be achieved without a correspondingly meaningful rise in unemployment, i.e. a recession.
The Fed must and therefore will engineer The Mother of All Pain Trades, wreaking havoc on an estimated $5.3 trillion in private debt eligible to be refinanced by 2025.
We see the following sequence of events as the path the Fed will most likely take over the next one-to-three years towards the inevitable recession:
1) The Mother of All Pain Trades
2) Deep Pain, Deep Recession
3) Mechanics of the Curve
4) Benchmark Rate
5) Debt
6) Maturity Wall
7) Timing the Break
And estimate that the recession will arrive in the second half of 2025 or 2026.
For the Fed to bring inflation down to 2%, it will take the destruction of a significant amount of wealth - something which an unprecedented pace of aggressive rate hikes has so far failed to do. To the Fed, losing control over price stability is unacceptable.
BlackRock revealed in their 2023 Outlook that "only a deep recession can effectively decouple the global economy from the risks of persistent inflation." The Fed continues to believe in the Phillips Curve, which plots unemployment as inversely related to inflation. A meaningful decline in inflation cannot be achieved without a correspondingly meaningful rise in unemployment, i.e. a recession.
The Fed must and therefore will engineer The Mother of All Pain Trades, wreaking havoc on an estimated $5.3 trillion in private debt eligible to be refinanced by 2025.
We see the following sequence of events as the path the Fed will most likely take over the next one-to-three years towards the inevitable recession:
1) The Mother of All Pain Trades
2) Deep Pain, Deep Recession
3) Mechanics of the Curve
4) Benchmark Rate
5) Debt
6) Maturity Wall
7) Timing the Break
And estimate that the recession will arrive in the second half of 2025 or 2026.
Telegraph
The Mother of All Pain Trades
This article was originally published on @DissidentThoughts Telegram in this post.
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NEW - Two research teams have reportedly confirmed the LK-99 superconductivity claims — albeit in preliminary testing.
The entire story surrounding this discovery is a scientific rollercoaster ride, with rogue scientists, updated papers, plus cloudy definitions and process denoscriptions within the paper.
https://www.disclose.tv/id/g48od519ll/
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The entire story surrounding this discovery is a scientific rollercoaster ride, with rogue scientists, updated papers, plus cloudy definitions and process denoscriptions within the paper.
https://www.disclose.tv/id/g48od519ll/
@disclosetv
Disclose.tv
Superconductor breakthrough replicated, twice, in preliminary testing
Breaking news from around the world.
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NEW - U.S. government interest spending is now close to $1 trillion on an annualized basis, surged by about 50% in the past year.
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