Neat unrelated graphic I found, how does your state rate on fiscal solvency? North Dakota even has their a State owned bank. Looking really good North Dakota.
On the global stage things do not look so good at the moment. We’ve got US forces in Afganistan, Iraq, a militant group funded, trained and armed by the US in Syria. Then there is Russia who is bombing said militant group, after annexing parts of Ukraine. This the international fighting going on at the moment. Palestinian’s are now attacking Israeli police and army in a recent surge of violence. Turkey is also sliding into civil war with it’s Kurdish population.
We seem to always be involved in conflict so none of this seems too out of place, however, the Russians standing up and challenging US policy on the world stage is something new. The real dangerous stuff seems to be domestic policy across the world is proving to be a complete failure, be it corruption, immigration policy, censorship or wealth inequality.
Governments are corrupt everywhere, they work hand an hand with big business to protect each other from a population that can vote. For the past 50 years their partnership has worked very well, times were good, the economy hummed along, recessions were short and the people were pacified. However, people are waking up now, the economy hasn’t been doing as well as we’ve been told, reality is setting in across the world, and governments that have taken out trillions in debt to fulfill promises have no way to pay it back. People are trying to get off this ride.
Earlier in the year we saw Scotland come dangerous close to voting to leave the EU, later this year the UK will be voting to leave to EU or not. Independence movements have succeed recently in the Catalonia region of Spain which makes up 18% of GDP. Spanish government has threaten that they can leave but they have voted to leave by a staggering 81%. Slovenia has also threatened to leave the EU over the issue of being forced to take in migrants.
Combined with the Euro debt crisis, where Greece is late on loan payments to German banks, which is causing German banks a lot of stress. Deustche Bank reporting that they will be cutting dividends for the first time after a 6.2 billion dollar loss on the 3rd quarter. VW after their emission scandal is not in a good place either, they will be forced to recall thousands of cars. I’m not sure how long the German’s can continue to prop up the EU. If nations start leaving the Union is finished, and German along with it. The German economic model relies on exports to other poorer EU nations, and without the EU trade will get a lot harder.
So now German leaders are trying to herald the massive waves of refugees as their economic saviors. They say the cheap labor and huge workforce will usher in a new age of prosperity. The problem being only 10% of them have applied for work, most of them can’t speak the language, and their culture is very different from German culture.
The initially openly welcome German public is starting to slowly change it’s opinion. The original estimated immigrants arrive was 400,000, then 800,000 and now 1.5 million is the expected number to arrive. The German government will be responsible for housing, feeding, and educating all these people and the taxpaying German public will fund it all. Across Europe nationalist and separatist parties are gaining in support and it does not seem like a good thing.
Asylum shelters are getting burn down in arson attacks. Afghanistan asylum seekers attack Syrian asylum seekers. Migrants are committing crimes against the population and each other. Asylum housing is split along ethnic lines to discourage violence, but some of these shelters and encampments have become sites of violence and prostitution. Anti-migrant movement PEGIDA, or Patriotic Europeans Against the “Islamization” of the West is growing in numbers, and online and in social media some in the public are attacking the migrants. Something that the government sees as very dangerous, so they’ve brought in Facebook to censor any anti-migrant/refugee postings. I guess free speech is dead, though the European interpretation of free speech was never ideal.
It’s not just Germany too, Sweden, Denmark, the Netherlands all have a slow growing movement in public polling away from accepting more migrants. Trade agreements are yet another thing bringing German’s to the street to protest, 250,000 reported at an anti TTIP rally.
It all just goes to show how ineffective governments have become at giving the people what they want and need. Democracy is becoming too easy to corrupt, in the US with money, in the EU with unelected officials wielding power.
Should we have gone to Iraq? In hindsight most people would say absolutely not, but in 2014, after our pull out, we put boots back on the ground again. How about Afghanistan, we’ve been there for 14 years now, when is enough? The biggest new-story on that front is the hospital we bombed and didn’t take responsibility for. A war crime, and of course no one will be accountable.
Meanwhile we are told thing are great and keep carrying on.
The government corruption that ignores the middle class isn’t unique to the US, here in lovely South Korean 5 companies make up 85% of the GDP. To say government and industry work together closely is a huge understatement. The government here is hi-jacked, held at gun point. There are no middle sizes businesses here, there are millions of small businesses that find it impossible to grow because the large companies can sweep in, copy your design and improve it and get it to market faster than you can blink. Samsung said themselves they are not innovators, they are fast adopters. A world without innovators? Who comes up with the new ideas. Behemoth companies can’t, that’s too risky. Entrepreneurs are shoved out of the market place, and things will stagnate for a time.
Just how big is Samsung?
Another piece of news coming out of the UK. The average UK salary is £26,500 on which employees pay a total of £5,392.80 in income tax and national insurance contributions. Social network giant Facebook paid just £4,327 ($6,643) in corporation tax in 2014. This is a level playing field right?
I fear this is the end result. Air France recently laid off a few thousand employees.