Connect with us

International

Klaus Schwab: Great Reset Will “Lead To Fusion Of Our Physical, Digital, & Biological Identity”

Klaus Schwab: Great Reset Will "Lead To Fusion Of Our Physical, Digital, & Biological Identity"

Published

on

Klaus Schwab: Great Reset Will "Lead To Fusion Of Our Physical, Digital, & Biological Identity" Tyler Durden Tue, 11/17/2020 - 03:30

Authored by Paul Joseph Watson via Summit News,

Globalist Klaus Schwab made it clear that transhumanism is an integral part of “The Great Reset” when he said that the fourth industrial revolution would “lead to a fusion of our physical, digital and biological identity,” which in his book he clarifies is implantable microchips that can read your thoughts.

As we highlighted earlier, “The Great Reset” is attracting a deluge of fresh attention in the aftermath of the coronavirus pandemic, which Canadian Prime Minister Justin Trudeau said was an “opportunity for a reset.”

The agenda is primarily based around dismantling the current capitalist system in favor of greater centralized technocrat rule which will lead to lower living standards, less fuel consumption, fewer civil liberties and the accelerated automation of jobs.

However, another key aspect to “The Great Reset,” or the “fourth industrial revolution” as Schwab calls it, is merging man with machine.

“What the fourth industrial revolution will lead to is a fusion of our physical, digital and biological identity,” Schwab told the Chicago Council on Global Affairs.

Schwab went on to explain how his book, ‘Shaping the Future of The Fourth Industrial Revolution’, was particularly popular in China, South Korea and Japan, with the South Korean military alone purchasing 16,000 copies.

In the book, Schwab explains with excitement how upcoming technology will allow authorities to “intrude into the hitherto private space of our minds, reading our thoughts and influencing our behavior.”

He goes on to predict that this will provide an incentive for law enforcement to implement Minority Report-style pre-crime programs.

“As capabilities in this area improve, the temptation for law enforcement agencies and courts to use techniques to determine the likelihood of criminal activity, assess guilt or even possibly retrieve memories directly from people’s brains will increase,” writes Schwab. “Even crossing a national border might one day involve a detailed brain scan to assess an individual’s security risk.”

Schwab also waxes lyrical about the transhumanist utopian dream shared by all elitists which will ultimately lead to the creation of human cyborgs.

“Fourth Industrial Revolution technologies will not stop at becoming part of the physical world around us—they will become part of us,” writes Schwab.

“Indeed, some of us already feel that our smartphones have become an extension of ourselves. Today’s external devices—from wearable computers to virtual reality headsets—will almost certainly become implantable in our bodies and brains.”

Schwab also openly endorses something the media still claims is solely a domain of discussion for conspiracy theorists, namely “active implantable microchips that break the skin barrier of our bodies.”

The globalist hails the arrival of “implanted devices (that) will likely also help to communicate thoughts normally expressed verbally through a ‘built-in’ smartphone, and potentially unexpressed thoughts or moods by reading brain waves and other signals.”

So in other words, the “fusion of our physical, digital and biological identity” relates to the transhumanist singularity and a future where people have their every movement tracked and every thought read by an implantable microchip.

It isn’t a “conspiracy theory” when they’re openly telling you what they want to do.

*  *  *

New limited edition merch now available! Click here.

In the age of mass Silicon Valley censorship It is crucial that we stay in touch. I need you to sign up for my free newsletter here. Also, I urgently need your financial support here.

Read More

Continue Reading

Spread & Containment

Shortage of workers threatens UK recovery – here’s why and what to do about it

The nation has very low unemployment figures, but that masks a complex labour market.

Published

on

For the first time since records began, there are more job vacancies in the UK than unemployed people, according to the latest monthly labour market figures. This has been driven mainly by a near-fourfold surge in job vacancies to around 1.3 million since the summer of 2020, when economic activity was allowed to resume at the end of the first COVID lockdown.

Record vacancies might seem like a good thing in terms of maintaining low unemployment. But employers across all sectors of the economy are struggling to fill vacancies, which limits economic recovery. So what explains all these vacancies, and what can be done about them?

First of all, the spectacular rise in job vacancies goes far beyond a pre-pandemic “bounce back”. Although the biggest shortages are in hospitality, there have been substantial rises across most sectors. All are above pre-pandemic levels.

Job vacancies and unemployment (thousands)

Office for National Statistics (2020), Vacancy Survey and Labour Force Survey

Demand for labour (that’s all employment plus vacancies) has recovered to almost exactly its pre-pandemic level. But the data indicates that the increase in vacancies is not due to a surge in demand for labour, but because the labour force is shrinking: it dropped by 1.6% or 561,000 between the first quarters (Jan-March) of 2020 and 2022, which is greater than the increase in job vacancies over the same period (492,000).

Notably, people’s reasons for being economically inactive have changed over the past couple of years. Following the first COVID lockdown, the large drop in labour supply among 16-64s (those of working age) was mainly driven by rises in long-term sickness (139,000) and early retirement (70,000).

Reasons for economic inactivity over time, 16-64 year olds

Chart showing why 16-64s are economically inactive over time
Note: the chart shows quarterly rolling years. Author calculations of ONS Annual Population Survey, accessed via Nomis

The drop in the workforce also masks a considerable churn within it, which may be adding to employers’ difficulties in recruiting staff. During the first lockdown, the number of EU workers fell by some 300,000. This has partially recovered, as you can see in the chart below, but there are still around 100,000 fewer than at the start of the pandemic.

Yet this has been more than offset by continued long-term growth in the number of non-EU foreign-born workers in the UK, increasing by some 170,000 since the start of the pandemic. Brexit, in other words, in tandem with the pandemic, has been a source of churn in the labour market.

Change in non UK-born workforce 2019-21

Chart showing what has happened to non-UK nationals working in UK over time
Note: although likely to be indicative of trends, non-UK residents may be underestimated due to the Annual Population Survey/Labour Force Survey shifting from face-to-face to online data collection during the pandemic. Data is currently subject to review and may be revised. Authors' calculations of ONS (2022) Labour Force Survey

The geographic dimension

Until now, little has been known about where this sharp rise in vacancies has been happening, which is an important question if the government is to be able to address geographical imbalances in the economy through its “levelling up” policy.

To help remedy this, we have been studying comprehensive online job vacancy data obtained under a special research agreement with the Urban Big Data Centre at the University of Glasgow to use data scraped from the Adzuna job vacancy search engine. Our data analysis is not yet published in the academic literature, but it provides an early indication of the overall pattern.

The rise in the rate of job vacancies appears remarkably uneven across local authority districts in Great Britain. The two maps below show the change from before the pandemic in February 2020 (on the left) to July 2021 (on the right), the most recent month for which we have been able to compute data. This is likely to still be indicative of the most recent geographic pattern.

Vacancies growth between February 2020 and July 2021

GB maps showing job vacancies by council district
Authors’ calculations based on Adzuna vacancy data (Adzuna. Economic and Social Research Council. Adzuna Data, 2022 [data collection]. University of Glasgow - Urban Big Data Centre), ONS Business Register and employer survey and ONS local authority boundaries

It shows huge increases in vacancies in relatively few districts, while most others show either modest increases or falls. The highest rates are particularly found in remoter rural areas, particularly in the south-west and north-west of England, and in parts of inner London.

Many of these districts are dependent on foreign labour, particularly for agriculture in rural areas, and hospitality and other sectors in London. Again, this may be a sign of the effect of Brexit and the pandemic choking off the growth in the number of EU workers.

What can’t be denied is that the employment market has been restructured in several major inter-related ways in a relatively short period, not only with Brexit but also thanks to rapid increases in remote online working, disruption to global supply-chains and COVID-related ill health.

It would make sense for these factors to produce “mismatches” between the skills and locations of workers and vacancies. For example, many job seekers have skills in declining occupations, such as skilled manual work. Our own analysis backs this up, since we see more job seekers than vacancies in some former industrial towns, particularly in the West Midlands and northern England – exactly the opposite problem to some inner London boroughs and rural districts.

What should be done

Places across the UK where job vacancies are concentrated are likely to experience sharp economic contractions if they are unable to attract more workers soon. Yet the areas that have experienced drops or weak growth in vacancies compared to before the pandemic are also a concern, as they may have been hit harder by issues like global supply chains and the pandemic and may not have enough jobs to go around.

Policies to combat Britain’s labour shortage must therefore be geographically targeted. Areas in need of more jobs, particularly higher-paying jobs, often require long-term investment in infrastructure and skills.

But to help areas in need of more workers, there will need to be creative solutions such as employers offering attractive packages including training and flexible working, and local and national authorities ensuring adequate local availability of affordable housing.

The authors do not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

Read More

Continue Reading

Stocks

3 Nursing Home Stocks to Watch in 2022

By 2050, 22% of Americans will be seniors. The value of nursing home stocks should reflect that aging cohort. Keep reading to learn more.
The post 3 Nursing…

Published

on

No one ever said they want to spend the rest of their lives in a nursing home. Unfortunately, the reality is that’s where a significant portion of the elderly and disabled population end up. Demographically, about 16.5% of the American population is currently over 65. By 2050, 22%, or more than one out of five Americans will be seniors. The value of nursing home stocks should reflect that rapidly aging cohort.

The Eldercare Industry

The eldercare industry consists of various sectors. For instance, these include:

  • Independent living
  • Assisted living facilities
  • Skilled nursing facilities
  • Nursing homes

We’ll concentrate on companies whose primary business involves skilled nursing facilities and nursing homes. The difference between the two is that the former is a temporary residence for those undergoing medical rehabilitation, and the latter is a home for residents requiring 24/7 care. In fact, there is a fair degree of overlap between them.

Keep reading for more info on nursing home stocks.

No. 3 National HealthCare Corporation (NYSE: NHC)

Headquartered in Murfreesboro, Tennessee, National HealthCare Corporation operates 75 skilled nursing centers, 24 assisted living facilities, 35 home care agencies, 29 hospice agencies and five retirement communities. Other services include rehab facilities, senior care pharmacies, memory care and a hospital. NHC has been in business for 50 years. It’s the country’s oldest publicly-traded long-term healthcare company. Additionally, most of its facilities are located in the southeastern U.S.

In 2021, its net operating revenues and grant income totaled $1,074,302,000. That was an increase of 4.5% compared to 2020’s net operating revenues of $1,028,217,000. However, most of that increase was attributable to the June 2021 controlling equity acquisition of hospice provider Caris Healthcare.

As of May 17, 2022, the stock’s 52-week history ranges from a low of $61.89 to a high of $78.42. On May 5, the nursing home stock announced a 3.6% dividend increase for the second quarter over the first quarter of 2022.

No. 2 Omega Healthcare Investors (NYSE: OHI)

Omega Healthcare Investors is a triple net equity Real Estate Investment Trust (REIT). OHI has been investing in senior care for 30 years, providing capital for operators of skilled nursing facilities and assisted living facilities. It partners with 64 of “the most future-focused, growth-oriented” operators in the U.S. and U.K. The REIT has helped these operators accelerate their growth strategies via $1.45 billion in unsecured credit.

On May 2, 2022, the company announced results for the first quarter of 2022. Additionally, net income was $195.2 million or $0.79 per common share. CEO Taylor Pickett said OHI’s near-term Funds from Operations (FFO) and Funds Available for Distribution (FAD) financial results were affected by the nonpayment of rent by several operators. However, as the impact of the Omicron variant receded, portfolio occupancy improved as the quarter progressed. This nursing home stock declared a $0.67 per share cash dividend on common stock.

In the first quarter, OHI acquired 27 care homes in the U.K. for $100 million. Earlier in the quarter, it acquired three other U.K. care homes. Two were purchased for $8 million and the third for $5 million. It also bought a Maryland skilled nursing facility for $8.5 million in this period. Under its capital renovation and construction program, OHI invested $20 million in this quarter. Additionally, as of May 17, OHI’s 52-week range was $24.81 to $38.19.

No. 1 Sabra Health Care REIT (Nasdaq: SBRA)

Based in Irvine, California, and operating since 2010, Sabra Health Care REIT invests in skilled nursing facilities, behavioral health facilities, and senior housing throughout the U.S. and Canada. While there are Sabra-owned properties in 41 states, the bulk of its U.S. holdings is located in Texas and California. This nursing home stocks portfolio currently consists of 416 real estate properties for investment. For example, these include:

  • 279 Skilled nursing facilities
  • 59 Senior housing communities
  • 50 Senior housing communities operated by third-party managers
  • 13 Behavioral health facilities
  • 15 Specialty hospitals

Taken together, these investment properties total 41,445 beds or units.

According to its first-quarter 2022 earnings report, Sabra collected 99.5% of its forecasted rents from the beginning of the pandemic up to April 2022. While there were “initial headwinds” related to the Omicron variant, the company’s seven largest skilled nursing tenants saw sizable occupancy increases during this quarter. The company has approximately $1 billion in liquidity,

The company declared a quarterly cash dividend of $0.30 per share of common stock. In addition, as of May 17, the company’s 52-week range was $11.44 to $19.02.

Nursing Home Stocks Challenges

Nursing home residents were particularly vulnerable to COVID-19. Many of these elderly residents died during the earliest days of the pandemic. In addition, staffing shortages exacerbated the dire conditions in many nursing homes during this time. Due to long-term triple net leases, REITs were insulated to some degree, as long as operators continued to pay the rent.

There is also a move by the government to push private equity out of the skilled nursing sector. In 2021, 89% of the $3.7 billion spent on skilled nursing transactions involved private buyers. The view is that Wall Street’s acquisition of nursing home stocks was resulting in a lower quality of care and higher costs in nursing homes.

Nursing Home Stocks Considerations

By 2030, less than a decade from now, every Baby Boomer will be over 65. Those over 85, the group most likely to need nursing home care, is growing even faster. Although nursing home stocks were hit badly by the pandemic, the sheer number of elderly people and a caregiver deficit should mean such facilities are the only option for many in the near future.

The post 3 Nursing Home Stocks to Watch in 2022 appeared first on Investment U.

Read More

Continue Reading

Spread & Containment

Global Supply Chain Pressure Index: May 2022 Update

Supply chain disruptions continue to be a major challenge as the world economy recovers from the COVID-19 pandemic. Furthermore, recent developments related…

Published

on

Supply chain disruptions continue to be a major challenge as the world economy recovers from the COVID-19 pandemic. Furthermore, recent developments related to geopolitics and the pandemic (particularly in China) could put further strains on global supply chains. In a January post, we first presented the Global Supply Chain Pressure Index (GSCPI), a parsimonious global measure designed to capture supply chain disruptions using a range of indicators. We revisited our index in March, and today we are launching the GSCPI as a standalone product, with new readings to be published each month. In this post, we review GSCPI readings through April 2022 and briefly discuss the drivers of recent moves in the index.

More Stress on Supply Chains

The chart below provides an update of the GSCPI through April; readers can find a link to the updated data series on our new product page. Between December 2021 and March 2022, the index registered an easing of global supply chain pressures, though they remained at very high levels historically. However, the April 2022 reading suggests a worsening of conditions as renewed strains emerge in global supply chains.

April Data Indicate Worsening of Supply Chain Pressures

Sources: Bureau of Labor Statistics; Harper Petersen Holding GmbH; Baltic Exchange; IHS Markit; Institute for Supply Management; Haver Analytics; Bloomberg L.P.; authors’ calculations.

Note: Index is scaled by its standard deviation.

Methodology

Before analyzing this recent pickup in supply chain pressures, we remind readers that the GSCPI is based on two sets of data. Global transportation costs are measured by using data on ocean shipping costs, for we which we employ data from the Baltic Dry Index (BDI) and the Harpex index, as well as BLS airfreight cost indices for freight flights between Asia, Europe, and the United States. We also use supply chain-related components  of Purchase Manager Index (PMI) surveys—“delivery times,” “backlogs,” and “purchased stocks”—for manufacturing firms across seven interconnected economies: China, the euro area, Japan, South Korea, Taiwan, the United Kingdom, and the United States. Before combining these data within the GSCPI by means of principal component analysis, we strip out demand effects from the underlying series by projecting the PMI supply chain components on the “new orders” components of the corresponding PMI surveys and, in a similar vein, projecting the global transportation cost measures onto GDP-weighted “new orders” and “inputs purchased” components across the seven PMI surveys.

Sources of Pressure

So, what are the drivers behind recent moves in the GSCPI? The charts below illustrate how each of the underlying variables contributed to the overall change in the GSCPI in the last two months. Each column represents the contribution, in standard deviations, of each component of our index to the overall change in the index during a given period. In the first chart, we examine February-March 2022. We note that the lessening of supply chain pressures over this period was widespread across the various components, which indicated a welcome reduction in global supply chain disruptions. Most of the series in our data set declined over this period; the U.K. “backlog” component worsened and the U.S. “purchased stocks” component increased marginally.

Widespread Improvements Seen across Components in March 2022

Sources: Bureau of Labor Statistics; Harper Petersen Holding GmbH; Baltic Exchange; IHS Markit; Institute for Supply Management; Haver Analytics; Bloomberg L.P.; authors’ calculations.

In the chart below, we focus on the contributions of the underlying components of the GSCPI from March to April 2022.

Global Supply Chain Pressures Worsen in April 2022

Sources: Bureau of Labor Statistics; Harper Petersen Holding GmbH; Baltic Exchange; IHS Markit; Institute for Supply Management; Haver Analytics; Bloomberg L.P.; authors’ calculations.

As the chart indicates, the worsening of global supply chain pressures in April was predominantly driven by the Chinese “delivery times” component, the increase in airfreight costs from the United States to Asia, and the euro area “delivery times” component, as other components have eased over the month. These developments could be associated with the stringent COVID-19-related lockdown measures adopted in China, as well as the consequences of the Ukraine-Russia conflict for supply chains in Europe.

Finally, as we noted in our previous post and discuss on our product page, recent GSCPI readings are subject to revision. The chart below compares the current GSCPI release with the previous three releases, showing that revisions can have an impact up to a year back in time. The chart indicates that, based on the current vintage of the GSCPI, the decrease in global supply chain pressures through April occurred at a slighter faster pace than previous GSCPI estimates had suggested.

Revised and Realized Data Can Alter Previous Supply Chain Pressure Readings

Sources: Bureau of Labor Statistics; Harper Petersen Holding GmbH; Baltic Exchange; IHS Markit; Institute for Supply Management; Haver Analytics; Bloomberg L.P.; authors’ calculations.

Note: Index is scaled by its standard deviation.

Conclusions

In this post, we provide an update of the GSCPI through April 2022. This estimate suggests that the moderation we have observed in recent months has been partially reversed, as lockdown measures in China and geopolitical developments are putting further strains on delivery times and transportation costs in China and the euro area. Forthcoming readings will be particularly interesting as we assess the potential for these developments to further heighten global supply chain pressures.

Chart Data

Gianluca Benigno is the head of International Studies in the Federal Reserve Bank of New York’s Research and Statistics Group.

Julian di Giovanni is head of Climate Risk Studies in the Bank’s Research and Statistics Group.

Jan J.J. Groen is an economic research advisor in the Bank’s Research and Statistics Group.

Adam Noble is a senior research analyst in the Bank’s Research and Statistics Group.

How to cite this post:
Gianluca Benigno, Julian Di Giovanni, Jan Groen, and Adam Noble, “Global Supply Chain Pressure Index: May 2022 Update,” Federal Reserve Bank of New York Liberty Street Economics, May 18, 2022, https://libertystreeteconomics.newyorkfed.org/2022/05/global-supply-chain-pressure-index-may-2022-update/.


Disclaimer
The views expressed in this post are those of the authors and do not necessarily reflect the position of the Federal Reserve Bank of New York or the Federal Reserve System. Any errors or omissions are the responsibility of the authors.

Read More

Continue Reading

Trending