Expanding the Legacy
Expanding the Legacy
The US Federal Reserve celebrated the death of inflation with a bold interest rate cut. As the Federal Open Market Committee mulled its next move during a highly-anticipated meeting yesterday, its twelve members just hoped, and perhaps even prayed (this is, after all, America), that the reports of inflation’s death are not ‘greatly exaggerated’. The benchmark federal fund rate receded to five percent.
The withdrawal of banks from the high streets and neighbourhood corners is unsurprising. Today, most banks derive no more than three percent of their turnover from ‘traditional’ business operations such as fees and lending depositors’ cash to companies wishing to expand or families looking to buy a home. In 2022, the total assets of the financial sector in the UK amounted to a truly staggering $16.88 trillion - well over five time the aggregate output of the country’s entire economy. Those assets comprise mostly claims on other banks.
He lapped up life daringly, mastered the art of rebellion, and looked far beyond the horizon to find adventure and clam his restless soul. Just before the implacable woke crowd could ‘cancel’ him, biographer Sue Prideaux snatched Paul Gauguin from its claws. The French postimpressionist painter seemed ripe for the picking: the perfect candidate to be knocked off his pedestal, thrown from his perch, and relegated to the scrapheap of art history. It was not for a lack of trying that the über politically correct posse failed in its pursuit.
To placate its critics, the German government has temporarily reasserted control over the country’s borders. The measure is meant to stem the flow of immigrants entering the country to submit unfounded asylum claims. As of tomorrow, checks will take place on incoming traffic by roving border patrols.
The Republican campaign for the presidency is being shredded by an epic catfight between Trump groupies vying for the love and attention of their idol. Get the popcorn! Also: Kamala Harris Takes Advice from Chinese Sage and American Cheapskates Fail to Pay Up for Defence of Ukraine.
Whichever way US voters decide on election day, it’s the day after that causes most concern. A win by Donald Trump is unlikely to be contested by his opponents but promises to usher in a man who vowed to don the mantle of a dictator on his first day in office. Conversely, it is a foregone conclusion that a loss will be bitterly contested by Mr Trump.
Preppers, survivalists, libertarians, and assorted make-believe soldiers of private militias will gather tomorrow around the Michigan state capitol building in Lansing to express their anger over Governor Gretchen Whitmer’s stay-at-home order, now extended to 31 May. Mrs Whitmer has become the focal point of right-wing protests against measures that seek...
Displaying an unsurprising anarchic streak, Elon Musk today defied a county lockdown order to reopen his flagship car assembly plant in Fremont, California. The enfant terrible of the US manufacturing industry dared the local sheriff to arrest him and said that he would be onsite orchestrating the start-up of production...
Just about the last thing Europe needs is for Berlin and Brussels to clash. The EU is, to say the least, not amused by a ruling of the German Constitutional Court in Karlsruhe that could force the Deutsche Bundesbank to drop out of any future support initiatives by the European...
It is not just the Chinese government that mistrusts its people and thinks they cannot handle the truth. Today, it transpired that even the UK government fears public scrutiny and prefers to cloak its knowledge and actions with a shroud of mystery – or, somewhat less poetically, employ a black...
And now for something completely different… Florian Schneider has passed away. French synthesiser virtuoso Jean-Michelle Jarre wished him Godspeed on eternity’s autobahn. Gary Kemp of Spandau Ballet acknowledged his debt to the architect and builder of music’s new Metropolis. In 1970, Florian Schneider founded the German electro pop group Kraftwerk...
Look and read, but please don’t tell. This is, believe it or not, a defence of US President Donald Trump as he stumbles, trips, and bluffs his way through the corona pandemic whilst its centre of gravity shifts towards the United States. It is easy, almost gratuitously so, to deride...
In a bizarre paint-by-numbers exercise, the world map of the corona pandemic is constantly being redrawn as viral hotspots suddenly appear, and others slowly fade away. Until recently relatively immune to corona, Russia is reporting a jump in the infection rate whilst in the United States the virus is spreading...
It is time to revisit China. Of late, Xi Jinping, the country’s ruler, seems to be taking fashion advice from his elusive counterpart just across the border in North Korea, replacing his stylish suit and tie for the drab attire that marked the Maoist Era. With a somewhat disconcerting frequency,...
If imitation is the highest form of flattery, then President Jair Bolsonaro of Brazil remains without equal. Mr Bolsonaro not only mimics the behaviour of his US counterpart Donald Trump, whom he considers a good friend and model leader, but takes the art of indifference to an entirely new level....
‘Deplatforming’ is alive and kicking, and apparently not affected by the pandemic. Controversial US filmmaker Michael Moore was loudly booed after the release of his latest documentary in which he questions the dogmas surrounding climate change. The film was met with cries of shame and calls to outlaw its showing....