USA - While it is traditionally viewed as a B-grade economic indicator, the April consumer credit report from the Federal Reserve was another shocker especially after last month's stunning surge in credit card debt which saw the biggest increase in revolving credit on record which is why we said that today's G.19 print straight from the Fed would be just as important as Friday's CPI print...
USA - According to the World Bank’s latest global economic forecast released on Tuesday, global economic growth is expected to slow down before the end of the year, and most countries should begin preparing for a recession. In the newly released report, the World Bank cut its forecast for global growth this year to 2.9%, down from the 4.1% forecast published in January. The report also warns that several years of above-average inflation lie ahead. “Both inflation and slow growth are putting world economy at risk,” says Liz Ann Sonders, Chief Investment Strategist for Charles Schwab. The World Bank cited the Russian invasion of Ukraine coupled with a still crippled, post-pandemic economy as a primary reason for its change. The report highlighted the continuance of surging energy, rising food prices, and higher interest rates from central banks for a more cynical outlook. The World Bank advised governments to soften the blow from soaring energy and food prices. The group suggested easing financial burdens by expanding debt relief.
USA - Manufacturers have continued to reduce portion sizes to keep up with record inflation around the country; experts call it “shrinkflation.” Some of the recognizable brands to shrink their products in recent months include Charmin, Bounty, and Gatorade, which have been downsized but have retained their previous prices. Other brands are starting to follow suit.
USA - Peter Sands, the executive director of the Global Fund to Fight AIDS, Tuberculosis, and Malaria, told Reuters in an interview on Tuesday that the next global health crisis is food shortages. Rising food and energy prices could kill millions both directly and indirectly, Sands said. “Food shortages work in two ways. One is you have the tragedy of people actually starving to death. But second is you have the fact that often much larger numbers of people are poorly nourished, and that makes them more vulnerable to existing diseases,” he said according to a report by US News.
GERMANY - Last Friday, by a large majority, the German parliament agreed to the “Bundeswehr Special Fund”. totalling 100 billion euros, which triples the arms budget in one fell swoop. The Bundeswehr will be “the largest conventional army in the European NATO system,” Chancellor Olaf Scholz announced. What is the reason for this re-armaments offensive? Officially, it is presented as a reaction to the Ukraine war. But this is propaganda. This is particularly evident in the book Die Transatlantische Illusion (The Transatlantic Illusion) by Josef Braml, which was completed shortly before the Russian attack on Ukraine and published by C H Beck in mid-March. Braml sees not only a rupture but also an open military conflict with the United States as inevitable.
AFRICA - Germany is keen to ditch Russian oil and gas for good and find new sources of energy, while Africa has abundant fuel reserves. The German-Africa Energy Forum is helping delegates develop mutually beneficial partnerships. One of the big topics of conversation at the 2022 German-Africa Energy Forum in Hamburg was Africa's abundant reserves of oil and gas. In 2017, the African continent reportedly had 148.6 trillion cubic meters of proven gas reserves — more than 7% of the global reserves. In 2019, Nigeria led crude oil exports in Africa, with more than 2 million barrels per day of oil sold on the international market. In the same year, Africa's overall oil and gas production reached 327.3 million metric tons. As of 2020, Africa's contribution to global oil exports reached nearly 9%. South Africa is one of Germany's most important trading partners in sub-Saharan Africa. The forum came on the heels of German Chancellor Olaf Scholz's visit to Africa last month where he signed deals to support the necessary infrastructure to extract and export oil and gas to Europe.
UK - Britain is staring down the specter of stagflation, a ruinous mix of stagnant economic growth and rapid inflation. The country is experiencing the fastest pace in consumer price growth in four decades — a 9 percent inflation rate. Economic growth ground to a halt in February and contracted slightly in March. Rising prices are inflicting pain around the world, but there is a concern that Britain faces more persistent problems than many of its neighbors.
VATICAN - Pope Francis added fuel to rumors about the future of his pontificate by announcing he would visit the central Italian city of L'Aquila in August for a feast initiated by Pope Celestine V, one of the few pontiffs who resigned before Pope Benedict XVI stepped down in 2013. Italian and Catholic media have been rife with unsourced speculation that the 85-year-old Francis might be planning to follow in Benedict’s footsteps, given his increased mobility problems that have forced him to use a wheelchair for the last month. Those rumors gained steam last week when Francis announced a consistory to create 21 new cardinals scheduled for August 27. Sixteen of those cardinals are under age 80 and eligible to vote in a conclave to elect Francis’ successor. Once they are added to the ranks of princes of the church, Francis will have stacked the College of Cardinals with 83 of the 132 voting-age cardinals. While there is no guarantee how the cardinals might vote, the chances that they will tap a successor who shares Francis’ pastoral priorities become ever greater.
USA - The topic of inflation is in the news nearly every day and is now the top concern among voters in most polls. Things are likely to get even worse. Most Americans are familiar with the all items Consumer Price Index (CPI). This metric is based on changes for all consumer goods and services. However, the US Department of Agriculture (USDA) Economic Research Service measures the changes to retail food prices only. The agency’s May Food Price Outlook should add to voter concerns.
USA - Utah faces an environmental catastrophe as the Great Salt Lake continues to dry up. Here's what will happen if the Great Salt Lake, which has already decreased by two-thirds, continues to dry up: The lake's flies and brine shrimp would die out - scientists say it could happen as early as this summer - posing a hazard to the 10 million migrating birds who visit the lake every year to dine on the small animals. Ski conditions would deteriorate in areas above Salt Lake City, a major source of revenue. The lake's profitable magnesium and other mineral exploitation may end.
USA - A Twitter account run by the European Commission has marked the start of Pride Month in June by declaring that the “future is queer” and promoting a new campaign. The Twitter account “European Youth,” which stated that it is run by the European Commission, wrote on Wednesday, “No two people are the same, we are all unique. Each one of us is the result of our own values, dreams, ambitions and talents.” The campaign comes as countries across Europe and elsewhere celebrate June as Pride Month, with many flying rainbow Pride flags, including the US embassy to the Vatican, which stated it will fly the rainbow flag all month. The US embassy will fly the flag for the second year in a row and stated on Twitter, “The United States respects and promotes the equality and human dignity of all people including the LGBTQIA+ community.”
USA - Let’s now reflect on the speed and depth of the destruction of America and the US economy by this “BIDEN BLITZKRIEG.” It takes your breath away. We are being attacked and destroyed from a thousand different directions at once. The speed of the attack is stunning. Bookmakers across the world have made Donald J Trump the huge favorite to win the presidency in 2024. All that’s well and good. But I have bad news for America. We aren’t going to make it to 2024. America is hanging by a thread.
UK - The Bishop believes that “the next tricks of the criminals who rule the world will be artificially created famine” and urges Europeans to stock up on food while they can still buy it. On May 15, 2022, controversial British Bishop Richard Williamson spoke out in support of the special military operation of the Russian Federation in Ukraine. He called Russia the last obstacle to the One World Order. Globalists have longed to rule the world through an authoritarian one-world government that will replace sovereign nation-states.
NIGERIA - At least 50 people have been slaughtered in a "satanic" massacre by twisted gunmen dubbed "bandits" at a Nigerian church. Women and children were among the victims after gunmen opened fire on worshippers inside and outside St Francis Catholic Church in the town of Owo. Ondo state Governor Arakunrin Oluwarotimi Akeredolu branded the horror as a "vile and satanic attack" that should not be allowed to happen again. Officials said children were among the dead. Shocking footage from the scene showed church worshippers lying in pools of blood while people around them wailed. Catholic Church spokesman in Nigeria, Reverend Augustine Ikwu, said the shooting had "left the community devastated". Nigeria has been battling an Islamist insurgency in the northeast and armed gangs in the northwest who carry out attacks and kidnappings for ransom. But attacks in the southwest of Nigeria are rare.
WALES, UK - Wales' First Minister Mark Drakeford has been asked to define what a woman is. During the plenary session, Conservative MS Laura Anne Jones asked a question related to trans athletes' participation in sport. Mr Drakeford said his "starting point" was "transgender women are women". "It is a difficult area where people feel very strongly on different sides of an argument, and an argument that divides people who agree on most other things." She told the First Minister: "I feel the need to be clear, and I think it's important that I make it clear that protecting women's rights does not for one moment mean that you're anti-trans rights. Female competitors deserve the same rights as male competitors."
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The views expressed in this section are not our own, unless specifically stated, but are provided to highlight what may prove to be prophetically relevant material appearing in the media.