MONEY IS THE PROBLEM

Suddenly, money is the big issue.   In just about every country.

After accumulating debt ($31.4 trillion in the US, in addition to the billions of private debt) — there’s nothing left to spend.  The Biden administration will have to cut spending.

In the UK striking public sector workers are unlikely to get a pay rise, as this would be inflationary at a time of high inflation.

A US general commented last week that the UK is not capable of defending itself due to many cuts over the years.   So the UK must find more money.  This will not be popular.

In France, French strikers are protesting changes to the pension system.  Until now, the French could retire on full benefits at the age of 62.  Faced with serious labor shortages, the French president, Emmanuel Macron, aims to raise the age to 64.   This is still lower than most competitor countries but the French people do not like it.   

So, money is the problem.  Or, rather, the lack of it.   This could be solved by a massive increase in taxes, but this would be deeply unpopular.   

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Row Growing Over Shell’s £32bn Profits (UK)

Pressure is growing on the government to impose a bigger windfall tax on energy companies after Shell reported the largest profits in its history. Thanks to the surge in energy prices caused by Russia’s invasion of Ukraine, the oil company’s annual takings have risen to $40bn (£32bn). The vast profits — “equivalent to just over £1,000 a second,” said the London Evening Standard — were among the biggest ever made by a British company. Opposition parties accused Rishi Sunak of letting fossil fuel companies “off the hook” and unions described the profits as “obscene”. The UK-headquartered company paid $134m in British windfall taxes last year.  (The Week, 2/3/2023)

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From German Foreign Policy, 2/2/2023

In open defiance of Germany and the other Western powers, Brazil rejects all arms deliveries to Ukraine and pushes, instead, for a mediation initiative to end the Ukraine war. Brazil sees itself as a “land of peace” and rejects any involvement in this war, was President Luiz Inácio Lula da Silva’s response Monday to Berlin’s demand during German Chancellor Olaf Scholz’s visit, that ammunition for the Gepard anti-aircraft tank be provided to Kiev. Rather than constantly fueling the war with ever more weapons, a mediation initiative must be launched, with the possible contribution from China, in particular, but also from India and Indonesia, according to Lula. Scholz does not support such an initiative from the Global South to end the fighting and raised his objections on Monday. However, more and more governments, particularly in the Global South, such as, most recently Columbia and Egypt, but also Israel are promoting a negotiated solution. Thus, a counterpoint is becoming apparent to the West’s efforts to continue to assert its global dominance in and with the Ukraine war.

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In an anti-Islam demonstration, a Swedish man burned a copy of the Quran.   This has enraged Muslims around the world.   Many are now threatening suicide bombings in Europe.  The demonstration also resulted in Sweden’s application to join NATO being rejected because of Turkey’s refusal to support it.

“Afghan Taliban Officials Threaten Suicide Bombings In Europe To Avenge Quran Desecrations:  ‘We . . . Are Ready To Conduct Istishhadi [Martyrdom-Seeking] Attacks To Defend Our Islamic Values;’ ‘The Lions Of Islam Should Respond To This Evil Act In Such A Way That The Heart Of Stockholm, Sweden, Can Be Shaken Several Times.’ “(MEMRI, 2/1/2023)

In its Freedom in the World 2022 report, Freedom House, a U.S. government funded organization in Washington, D.C., put Turkey in its “not free” category of countries, along with Afghanistan, Angola, Belarus, Cambodia, China, Cuba, Ethiopia, Haiti, Iran, Iraq, Libya, Nicaragua, Russia, Saudi Arabia, Somalia, Sudan, Syria and several other third world rogue regimes. Could one, by the criteria of democracy, imagine any of those countries as a NATO member state? But Turkey is.  (Gatestone, 2/3/2023)

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(Sorry, folks, my computer is still giving me problems. I think it is about to give up the ghost.  It’s one of the older ones, about 2008 — large screen and keyboard for my ham fists to pound on.  I tried to have it fixed but it’s just too old.  So I am having a bit of difficulty producing my blog right now.)