It’s Back To The Future As Stocks, Futures Jump On The Latest Abysmal Economic News (2)

Economic NewsLibya chaotic political situation collides with EU’S chaotic refugee situation – result will be more chaos. An article ‘’ China seeks Latin Nation Commodities” by Ian James of Associated press appeared in our local paper on 6/7/11. This article is NOT about the US, it is looking at China as a case study for the direction the world is taking. My forecast after my last visit was that China would continue their insane development until resources began to run out, and then a few years of decline would lead to massive unrest followed by national breakup into feifdoms of competing ex-PLA General warlords, and that would happen by 2020. We have our own problems and may be past our peak of materialism, but China is not much of an economic threat.

The price of portable energy is now rising, and will soon make China much less competitive simply because of the cost of transport, and there is nothing they can do about it. They can’t build nuclear and/or renewable energy resources fast enough to offset declines and keep costs down. I have never visited China and this hub grew out of a job I won as a research assistant to a scholarly writer who is writing a book on the coming collapse of China.

The citizens of a country need to be a driving force behind any improvements and as my correspondent there in China is quick to point out, the average Chinese resident is more involved in survival and personal progress than in the long-term problems, as witnessed by the rampant pollution and litter to be found everywhere. Another, an economist claims that China’s recent economic flops mean that the programs on which so much depends will never get funded. It would not be good to rely solely on a single source for your news and information. Dennis AuBuchon is wrong – Faux news is pure Murdoch propaganda akin to TASS of the ‘ol USSR.

Their broadcast commentators, however, are the worst on TV. I gave up on CNN when they started to seem more concerned with celebrity gossip than news. In general, I would suggest that anyone wanting the whole story should check out news coverage from multiple sources – especially from sources that you don’t always agree with. Between the other two, you can get a reasonably balanced view of news if you take them both together. It is probably the hardest part of news to find complete objectivity, mainly because there are so many subjective nuances impacting the economic news.Economic News

The reporting of a downturn in the business cycle comes just as the political cycle is ramping up, meaning now is the time when voters want the myriad of 2016 presidential candidates to present their economic plans. From Rand Paul to Bernie Sanders, we want to know what these candidates will do to solidify our weak economic growth…or fight what might prove to be another recession. News of an approaching recession will give both Sanders and Santorum more of a soapbox.

Economic News