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Erdoganistan: The New Islamic Superpower?

Erdoganistan: The New Islamic Superpower?

Authored by Giulio Meotti via The Gatestone Institute,

"It was a very special day, July 24 [2020]," said France’s leading expert on Islam, Gilles Kepel.

"It was pilgrimage time to Mecca and,…

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Erdoganistan: The New Islamic Superpower?

Authored by Giulio Meotti via The Gatestone Institute,

"It was a very special day, July 24 [2020]," said France's leading expert on Islam, Gilles Kepel.

"It was pilgrimage time to Mecca and, due to the pandemic, no one was there! It was the anniversary of the Treaty of Lausanne, the origin of modern Turkey within its current borders. Erdogan was about to twist the arm of the secular Ataturk, who had turned the old Hagia Sophia basilica into a museum that he had donated 'to humanity'. Erdogan... turned it back into a mosque".

This was the moment, remarked Kepel – who just published a new book, "Le Prophète et la Pandémie" ["The Prophet and the Pandemic"] -- that Turkish President Recep Tayyip Erdogan became the new leader of the umma, or global Islamic community. "Erdogan is trying to appear as the champion of Islam, just like Ayatollah Khomenei in 1989".

Both Khomeini and Erdogan seem to have been committed to erasing secularism and ties with Western culture from their respective countries; to heading a battle against Saudi Arabia for supremacy of the Islamic world and to re-Islamizing their societies. Veiled women, for instance was rarely seen in Tehran before Khomeini, and Erdogan reintroduced it into Turkish society.

The Iranian mullahs were also able to impose on the international arena the use of the word "Islamophobia", but now it is Turkey that is leading the ideological persecution of the "Islamophobes". Under the auspices of Turkish diplomat Volkan Bozkir, President of the 75th Session of the United Nations General Assembly, the UN just celebrated the "International Day against Islamophobia" and Secretary General Antonio Guterres himself strongly denounced an "epidemic of Islamophobia". Erdogan was promoting his global campaign of victimization by "Islamophobia", while in fact it is the critics of extremist Islam who are in danger and frequently killed.

This grotesque and shameful conference was organized by the Organisation of Islamic Cooperation (OIC), an entity made up of 56 mainly Muslim countries, plus "Palestine". In the OIC, states such as Pakistan punish "blasphemy" with death; Saudi Arabia flogs and jails liberal bloggers such as Raif Badawi, and Turkey fills its jails with writers and journalists, to mention just a few of members.

On that July 24, in 2020,, Erdogan challenged Europe and the West by re-appropriating what had been, for a thousand years, the largest church in Eastern Christianity. The lack of response on the part of the West most likely convinced him that the moment was right. No one paid attention or countered the act.

Unlike Iran and Saudi Arabia, Turkey is a democracy. It is in talks with the European Union about its possible membership; it is pampered in Washington; it is the second-largest army in NATO, and stands as Asia's gateway to Europe.

The Financial Times (FT) has dedicated a series of analyses to Erdogan's grand plan for hegemony. In Africa, for the past 15 years, for instance, the Turkish president has spearheaded a mega-relaunch of his alliances. Since 2009, Turkey has increased the number of embassies there from 12 to 42. Erdogan has even been a frequent visitor, making trips to more than 20 capitals. The government has set itself the goal over the next few years of doubling Turkey's trade volume with Africa to $50 billion, about a third of its current trade with the European Union.

Turkey has also chosen the Balkans as a battlefield -- "the region," according to the FT, "is symbolically very important, since much of it was ruled by Istanbul during the Ottoman Empire". Then, there is Europe:

"Several European countries have voiced concern over activity by Turkey's intelligence service on their soil and the use of state-trained Turkish imams to spy on the diaspora".

Erdogan's goal in Europe seems to be to use the Turkish diaspora as a political instrument of pressure on states (in particular Germany, France, Austria, Belgium and Holland) and as the base for his hegemony.

In the Caucasus, Turkey supported Azerbaijan's war against Armenia in Nagorno-Karabakh presumably to create a Turkic-Islamic corridor between Azerbaijan, Turkey and other Muslim countries. Erdogan also apparently makes use of mercenaries. The Indian media reported a contingent sent to Kashmir to support Pakistan. Turkey has also previously used "Sadat" mercenaries against the Armenians, as well as in the Libyan and Syrian civil wars.

In the latest issue of the Reveue des deux mondes, the French philosopher Michel Onfray remarked that there is a clash of civilizations and that Erdogan now leads the Islamist side. "It began in 1989 with the fatwa against Salman Rushdie," he wrote.

"No Western country reacted except with words – as if they thought a verbal spell might work! With the beheading of Professor Samuel Paty it is this Judeo-Christianity that is being attacked -- in Armenia, Islam is attacking the oldest Christianity in Europe .... Europe is afraid of Erdogan and his ability to cause damage. This Tamerlane in the making threatens, insults, attacks, [and] supports those who threaten us, insult us and attack us".

That, Onfray continues, was the meaning of the Turkish aggression against Karabakh:

"Armenia is being attacked by Azeris and Muslim Turks who want its total disappearance. It is the result of a war of civilizations. What is happening in this country, which is the cradle of Christian civilization, is what awaits us here, in the tomb of the Judeo-Christian civilization itself. The battle lost in Armenia is the first of a war waged in the West against the Judeo-Christian civilization".

Erdogan has not even tried to hide his ideological vision. "The crescent and star embellish the skies of Karabakh now thanks to the efforts of our Azerbaijani brothers and sisters", the Turkish president proclaimed after the war. "The Azerbaijani flag flies proudly over Nagorno-Karabakh as a symbol of our martyrs' valor".

One of Erdogan's advisors, the retired Turkish general Adnan Tanrıverdi, who founded the mercenary agency "Sadat", articulated the vision of a unified Islamic superpower. His Justice Defenders Strategic Studies Center called it "Asrica", the union of Africa and Asia, 61 countries whose capital is Istanbul and under the aegis of this "Erdoganistan". They include 12 countries of the Middle East, namely Bahrain, United Arab Emirates, Palestine, Iraq, Qatar, Kuwait, Lebanon, Syria, Saudi Arabia, Oman, Jordan and Yemen; eight in Central Asia, Azerbaijan, Kazakhstan, Kyrgyzstan, the Turkish Republic of Northern Cyprus, Uzbekistan, Tajikistan, Turkey and Turkmenistan; four in the Near East, namely Afghanistan, Bangladesh, Iran and Pakistan; three in Southeast Asia, Brunei, Indonesia and Malaysia; six in North Africa, namely Algeria, Chad, Morocco, Libya, Egypt and Tunisia; six in East Africa, including Djibouti, Eritrea, Comoros, Mozambique, Somalia and Sudan; ten in northwestern Africa and South America, ie Western Sahara, Gambia, Guinea, Guinea Bissau, Mali, Mauritania, Senegal, Sierra Leone, Guyana and Suriname; eight in South West Africa, namely Benin, Burkina Faso, Gabon, Cameroon, Niger, Nigeria and Togo; and four in Europe, Albania, Bosnia-Herzegovina, Kosovo and Macedonia.

Turkey evidently wants to be a great neo-Ottoman Emipire and the only one capable of leading the Muslim world. The conversion of Hagia Sophia into a mosque seems to have been intended as a watershed in Islamic history that heralds the establishment of a powerful league of Muslim nations to face the West under the Turkish leadership.

Three seas surround Turkey: the Eastern Mediterranean, the Black Sea and the Aegean Sea. Turkey recently launched a large naval exercise. The Turkish Ministry of Defense announced that 82 warships, 17 naval aviation craft, amphibious forces, air force units and special operations teams engaged in exercises that ended on March 8.

"Blue Homeland" -- Mavi Vatan in Turkish -- is the geopolitical concept that marks Erdogan's agenda for the coming years. Conceived by nationalist Admiral Cem Gurdeniz, it is the "diplomacy of drills and warships" that pursues "the return of Turkey to the sea, the union between Anatolia and the eastern Mediterranean". The goal is clear: to control the sea, to control energy resources and to impose its influence. Erdogan announced that it will no longer be called "Aegean", but the "sea of ​​islands".

Ankara is on a collision course with Greece and Cyprus over who has the right to exploit the eastern Mediterranean's oil and gas deposits. "They will understand that Turkey has the political, economic and military power to tear up immoral maps and imposed documents," Erdogan said.

Turkey has problems with Cyprus, which, unlike the Turks, belongs to the European Union but not to NATO. Turkey, which invaded the island in 1974, remains the only country to recognize Turkish-occupied Northern Cyprus as a state. The Republic of Cyprus, which is majority-Greek Cypriot, wants to make deals with foreign energy companies, while Turkey, to the island's north, wants economic rights in the waters that Cyprus considers its own.

While the new sultan extends his influence to Syria, Libya and the Caucasus, he also extends it within the Mediterranean. For pacifist Europe, that sea only exists when it comes to bringing in migrants.

President Erdogan, in an official visit to Paris on January 5, 2018, proceeded to launch this provocative phrase to the leaders of the French Council for Muslim worship: "The Muslims of France are under my protection". Those were the first lines of an inquiry by the France's Journal du Dimanche. Several reports sent to the Elysée Palace by the Directorate General for Internal Security (DGSI), which the newspaper was able to consult, reveal the scope, forms and objectives of a "real infiltration strategy" through networks managed by the Turkish embassy and the Turkish spy agency, the MIT. "They act mainly within the Turkish immigrant population, but also through Muslim organizations and also recently in local political life, through the support given to elected officials".

"These actions have different objectives," commented the journalist Mohamed Sifaoui.

"First, to improve the image of the Turkish regime in the diaspora and in French society. Then, to defend Erdogan's image at all costs. And finally, of course, the spread of an Islamist vision of Islam".

Sifaoui cites as an example the latest charter wanted by French President Emmanuel Macron, the charter of principles present in the law that strengthens "republican principles," and is currently being examined by Parliament:

"It was not signed by the two Turkish federations, at the request of Ankara, because it is a charter that recalls the fundamental principles important for the Republic and which the Turkish regime clearly opposes... What the Turkish regime is doing is using its diaspora as a Trojan horse."

The Brookings Institution wrote in 2019:

"According to the [French] ministry of interior, 151 imams have been sent by Turkey (which has undertaken a spate of religious outreach to Muslims across Europe over the past decade)..."

Just as Turkey controls 400 mosques out of 2,500 in France. It is Ahmet Ogras, apparently close to Erdogan, who for two years occupied the symbolic position of president of the French Council for Muslim Worship -- as Turkish voters in France are generally more pro-Erdogan than in Turkey. During the presidential elections of 2014, Erdogan won 66% of the votes cast by Turkish citizens in France, compared to only 51.79% in Turkey. First- and second-generation Turkish immigrants in France continue to watch Turkish television, which is extremely submissive to Erdogan's power. In French public schools, 180 teachers, directly appointed by Ankara, are responsible for teaching the Turkish language.

These efforts make up the great project of conquest by Erdogan the Islamizer.

Erdogan recently withdrew Turkey from an international treaty on preventing violence against women. With this decision, it seems that the president is determined to increase impunity around murder of women and "honor killings", which common in Turkey.

In Erdogan's Turkey, school textbooks have been rewritten to refer to Jews and Christians as gavur, "infidels," according to a new study published by the Institute for Monitoring Peace and Cultural Tolerance in School Education (IMPACT-se). Earlier Turkish textbooks referred to the members of the two religions as the "peoples of the Book". "School books have been used as a weapon in Erdogan's attempts to Islamise Turkish society and to trace back to a nostalgic era of Turkish domination," wrote IMPACT-se's CEO, Marcus Sheff.

These are some of the findings of the study: Jihad was introduced in textbooks and transformed into the "new normal", with martyrdom in battle glorified. Ethno-nationalist religious goals of neo-Ottomanism and pan-Turkism are taught. Therefore, Islam is described as a political issue, with science and technology used to further its goals. There is an emphasis on concepts such as "Turkish world domination" and "Turkish or Ottoman ideal of world order". According to the curriculum, the "Turkish basin" extends from the Adriatic Sea to Central Asia. The curriculum adopts an anti-American stance, and shows sympathy for the motives of ISIS and al-Qaeda. Turkey takes anti-Armenian and pro-Azerbaijani positions. The identity and cultural needs of the Kurdish minority continue to be largely neglected. The pogroms of 1955 against the Greek community in Istanbul are ignored.

At schools, during the term of Erdogan, maps showing Turkish power have appeared. Reference is made to the "Turkish heritage from the Adriatic Sea to the Great Wall of China": "Turkish cultural artifacts can be seen in a vast region, starting with the countries of Central and East Asia, such as China and Mongolia, and extends to Herzegovina and Hungary..."

"We are a large family of 300 million people from the Adriatic to the Great Wall of China," Erdogan said in a speech from Moldova.

Europe, the US, NATO and the Free World might start worrying. Erdogan seems aiming to be the new Islamist wolf in sheep's clothing.

Tyler Durden Mon, 03/29/2021 - 02:00

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Analyst reviews Apple stock price target amid challenges

Here’s what could happen to Apple shares next.

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They said it was bound to happen.

It was Jan. 11, 2024 when software giant Microsoft  (MSFT)  briefly passed Apple  (AAPL)  as the most valuable company in the world.

Microsoft's stock closed 0.5% higher, giving it a market valuation of $2.859 trillion. 

It rose as much as 2% during the session and the company was briefly worth $2.903 trillion. Apple closed 0.3% lower, giving the company a market capitalization of $2.886 trillion. 

"It was inevitable that Microsoft would overtake Apple since Microsoft is growing faster and has more to benefit from the generative AI revolution," D.A. Davidson analyst Gil Luria said at the time, according to Reuters.

The two tech titans have jostled for top spot over the years and Microsoft was ahead at last check, with a market cap of $3.085 trillion, compared with Apple's value of $2.684 trillion.

Analysts noted that Apple had been dealing with weakening demand, including for the iPhone, the company’s main source of revenue. 

Demand in China, a major market, has slumped as the country's economy makes a slow recovery from the pandemic and competition from Huawei.

Sales in China of Apple's iPhone fell by 24% in the first six weeks of 2024 compared with a year earlier, according to research firm Counterpoint, as the company contended with stiff competition from a resurgent Huawei "while getting squeezed in the middle on aggressive pricing from the likes of OPPO, vivo and Xiaomi," said senior Analyst Mengmeng Zhang.

“Although the iPhone 15 is a great device, it has no significant upgrades from the previous version, so consumers feel fine holding on to the older-generation iPhones for now," he said.

A man scrolling through Netflix on an Apple iPad Pro. Photo by Phil Barker/Future Publishing via Getty Images.

Future Publishing/Getty Images

Big plans for China

Counterpoint said that the first six weeks of 2023 saw abnormally high numbers with significant unit sales being deferred from December 2022 due to production issues.

Apple is planning to open its eighth store in Shanghai – and its 47th across China – on March 21.

Related: Tech News Now: OpenAI says Musk contract 'never existed', Xiaomi's EV, and more

The company also plans to expand its research centre in Shanghai to support all of its product lines and open a new lab in southern tech hub Shenzhen later this year, according to the South China Morning Post.

Meanwhile, over in Europe, Apple announced changes to comply with the European Union's Digital Markets Act (DMA), which went into effect last week, Reuters reported on March 12.

Beginning this spring, software developers operating in Europe will be able to distribute apps to EU customers directly from their own websites instead of through the App Store.

"To reflect the DMA’s changes, users in the EU can install apps from alternative app marketplaces in iOS 17.4 and later," Apple said on its website, referring to the software platform that runs iPhones and iPads. 

"Users will be able to download an alternative marketplace app from the marketplace developer’s website," the company said.

Apple has also said it will appeal a $2 billion EU antitrust fine for thwarting competition from Spotify  (SPOT)  and other music streaming rivals via restrictions on the App Store.

The company's shares have suffered amid all this upheaval, but some analysts still see good things in Apple's future.

Bank of America Securities confirmed its positive stance on Apple, maintaining a buy rating with a steady price target of $225, according to Investing.com

The firm's analysis highlighted Apple's pricing strategy evolution since the introduction of the first iPhone in 2007, with initial prices set at $499 for the 4GB model and $599 for the 8GB model.

BofA said that Apple has consistently launched new iPhone models, including the Pro/Pro Max versions, to target the premium market. 

Analyst says Apple selloff 'overdone'

Concurrently, prices for previous models are typically reduced by about $100 with each new release. 

This strategy, coupled with installment plans from Apple and carriers, has contributed to the iPhone's installed base reaching a record 1.2 billion in 2023, the firm said.

More Tech Stocks:

Apple has effectively shifted its sales mix toward higher-value units despite experiencing slower unit sales, BofA said.

This trend is expected to persist and could help mitigate potential unit sales weaknesses, particularly in China. 

BofA also noted Apple's dominance in the high-end market, maintaining a market share of over 90% in the $1,000 and above price band for the past three years.

The firm also cited the anticipation of a multi-year iPhone cycle propelled by next-generation AI technology, robust services growth, and the potential for margin expansion.

On Monday, Evercore ISI analysts said they believed that the sell-off in the iPhone maker’s shares may be “overdone.”

The firm said that investors' growing preference for AI-focused stocks like Nvidia  (NVDA)  has led to a reallocation of funds away from Apple. 

In addition, Evercore said concerns over weakening demand in China, where Apple may be losing market share in the smartphone segment, have affected investor sentiment.

And then ongoing regulatory issues continue to have an impact on investor confidence in the world's second-biggest company.

“We think the sell-off is rather overdone, while we suspect there is strong valuation support at current levels to down 10%, there are three distinct drivers that could unlock upside on the stock from here – a) Cap allocation, b) AI inferencing, and c) Risk-off/defensive shift," the firm said in a research note.

Related: Veteran fund manager picks favorite stocks for 2024

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Major typhoid fever surveillance study in sub-Saharan Africa indicates need for the introduction of typhoid conjugate vaccines in endemic countries

There is a high burden of typhoid fever in sub-Saharan African countries, according to a new study published today in The Lancet Global Health. This high…

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There is a high burden of typhoid fever in sub-Saharan African countries, according to a new study published today in The Lancet Global Health. This high burden combined with the threat of typhoid strains resistant to antibiotic treatment calls for stronger prevention strategies, including the use and implementation of typhoid conjugate vaccines (TCVs) in endemic settings along with improvements in access to safe water, sanitation, and hygiene.

Credit: IVI

There is a high burden of typhoid fever in sub-Saharan African countries, according to a new study published today in The Lancet Global Health. This high burden combined with the threat of typhoid strains resistant to antibiotic treatment calls for stronger prevention strategies, including the use and implementation of typhoid conjugate vaccines (TCVs) in endemic settings along with improvements in access to safe water, sanitation, and hygiene.

 

The findings from this 4-year study, the Severe Typhoid in Africa (SETA) program, offers new typhoid fever burden estimates from six countries: Burkina Faso, Democratic Republic of the Congo (DRC), Ethiopia, Ghana, Madagascar, and Nigeria, with four countries recording more than 100 cases for every 100,000 person-years of observation, which is considered a high burden. The highest incidence of typhoid was found in DRC with 315 cases per 100,000 people while children between 2-14 years of age were shown to be at highest risk across all 25 study sites.

 

There are an estimated 12.5 to 16.3 million cases of typhoid every year with 140,000 deaths. However, with generic symptoms such as fever, fatigue, and abdominal pain, and the need for blood culture sampling to make a definitive diagnosis, it is difficult for governments to capture the true burden of typhoid in their countries.

 

“Our goal through SETA was to address these gaps in typhoid disease burden data,” said lead author Dr. Florian Marks, Deputy Director General of the International Vaccine Institute (IVI). “Our estimates indicate that introduction of TCV in endemic settings would go to lengths in protecting communities, especially school-aged children, against this potentially deadly—but preventable—disease.”

 

In addition to disease incidence, this study also showed that the emergence of antimicrobial resistance (AMR) in Salmonella Typhi, the bacteria that causes typhoid fever, has led to more reliance beyond the traditional first line of antibiotic treatment. If left untreated, severe cases of the disease can lead to intestinal perforation and even death. This suggests that prevention through vaccination may play a critical role in not only protecting against typhoid fever but reducing the spread of drug-resistant strains of the bacteria.

 

There are two TCVs prequalified by the World Health Organization (WHO) and available through Gavi, the Vaccine Alliance. In February 2024, IVI and SK bioscience announced that a third TCV, SKYTyphoid™, also achieved WHO PQ, paving the way for public procurement and increasing the global supply.

 

Alongside the SETA disease burden study, IVI has been working with colleagues in three African countries to show the real-world impact of TCV vaccination. These studies include a cluster-randomized trial in Agogo, Ghana and two effectiveness studies following mass vaccination in Kisantu, DRC and Imerintsiatosika, Madagascar.

 

Dr. Birkneh Tilahun Tadesse, Associate Director General at IVI and Head of the Real-World Evidence Department, explains, “Through these vaccine effectiveness studies, we aim to show the full public health value of TCV in settings that are directly impacted by a high burden of typhoid fever.” He adds, “Our final objective of course is to eliminate typhoid or to at least reduce the burden to low incidence levels, and that’s what we are attempting in Fiji with an island-wide vaccination campaign.”

 

As more countries in typhoid endemic countries, namely in sub-Saharan Africa and South Asia, consider TCV in national immunization programs, these data will help inform evidence-based policy decisions around typhoid prevention and control.

 

###

 

About the International Vaccine Institute (IVI)
The International Vaccine Institute (IVI) is a non-profit international organization established in 1997 at the initiative of the United Nations Development Programme with a mission to discover, develop, and deliver safe, effective, and affordable vaccines for global health.

IVI’s current portfolio includes vaccines at all stages of pre-clinical and clinical development for infectious diseases that disproportionately affect low- and middle-income countries, such as cholera, typhoid, chikungunya, shigella, salmonella, schistosomiasis, hepatitis E, HPV, COVID-19, and more. IVI developed the world’s first low-cost oral cholera vaccine, pre-qualified by the World Health Organization (WHO) and developed a new-generation typhoid conjugate vaccine that is recently pre-qualified by WHO.

IVI is headquartered in Seoul, Republic of Korea with a Europe Regional Office in Sweden, a Country Office in Austria, and Collaborating Centers in Ghana, Ethiopia, and Madagascar. 39 countries and the WHO are members of IVI, and the governments of the Republic of Korea, Sweden, India, Finland, and Thailand provide state funding. For more information, please visit https://www.ivi.int.

 

CONTACT

Aerie Em, Global Communications & Advocacy Manager
+82 2 881 1386 | aerie.em@ivi.int


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US Spent More Than Double What It Collected In February, As 2024 Deficit Is Second Highest Ever… And Debt Explodes

US Spent More Than Double What It Collected In February, As 2024 Deficit Is Second Highest Ever… And Debt Explodes

Earlier today, CNBC’s…

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US Spent More Than Double What It Collected In February, As 2024 Deficit Is Second Highest Ever... And Debt Explodes

Earlier today, CNBC's Brian Sullivan took a horse dose of Red Pills when, about six months after our readers, he learned that the US is issuing $1 trillion in debt every 100 days, which prompted him to rage tweet, (or rageX, not sure what the proper term is here) the following:

We’ve added 60% to national debt since 2018. Germany - a country with major economic woes - added ‘just’ 32%.   

Maybe it will never matter.   Maybe MMT is real.   Maybe we just cancel or inflate it out. Maybe career real estate borrowers or career politicians aren’t the answer.

I have no idea.  Only time will tell.   But it’s going to be fascinating to watch it play out.

He is right: it will be fascinating, and the latest budget deficit data simply confirmed that the day of reckoning will come very soon, certainly sooner than the two years that One River's Eric Peters predicted this weekend for the coming "US debt sustainability crisis."

According to the US Treasury, in February, the US collected $271 billion in various tax receipts, and spent $567 billion, more than double what it collected.

The two charts below show the divergence in US tax receipts which have flatlined (on a trailing 6M basis) since the covid pandemic in 2020 (with occasional stimmy-driven surges)...

... and spending which is about 50% higher compared to where it was in 2020.

The end result is that in February, the budget deficit rose to $296.3 billion, up 12.9% from a year prior, and the second highest February deficit on record.

And the punchline: on a cumulative basis, the budget deficit in fiscal 2024 which began on October 1, 2023 is now $828 billion, the second largest cumulative deficit through February on record, surpassed only by the peak covid year of 2021.

But wait there's more: because in a world where the US is spending more than twice what it is collecting, the endgame is clear: debt collapse, and while it won't be tomorrow, or the week after, it is coming... and it's also why the US is now selling $1 trillion in debt every 100 days just to keep operating (and absorbing all those millions of illegal immigrants who will keep voting democrat to preserve the socialist system of the US, so beloved by the Soros clan).

And it gets even worse, because we are now in the ponzi finance stage of the Minsky cycle, with total interest on the debt annualizing well above $1 trillion, and rising every day

... having already surpassed total US defense spending and soon to surpass total health spending and, finally all social security spending, the largest spending category of all, which means that US debt will now rise exponentially higher until the inevitable moment when the US dollar loses its reserve status and it all comes crashing down.

We conclude with another observation by CNBC's Brian Sullivan, who quotes an email by a DC strategist...

.. which lays out the proposed Biden budget as follows:

The budget deficit will growth another $16 TRILLION over next 10 years. Thats *with* the proposed massive tax hikes.

Without them the deficit will grow $19 trillion.

That's why you will hear the "deficit is being reduced by $3 trillion" over the decade.

No family budget or business could exist with this kind of math.

Of course, in the long run, neither can the US... and since neither party will ever cut the spending which everyone by now is so addicted to, the best anyone can do is start planning for the endgame.

Tyler Durden Tue, 03/12/2024 - 18:40

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