The USA is caught in a bind, unable to contain China and unable to cripple China's progress while watching helplessly. Two important measures by China had already sent the USA reeling - the migrating of agricultural imports towards Brazil, Argentina and Russia and the sanctions on rare earth magnets. Wasting money and already scarce resources sailing warships and conducting joint military exercises close to China is just throwing money into a black hole. Talk about spending more and more money on defense that reaps little in benefits, while having problems with ballooning deficits takes the cake.
The US$ is losing value by the day, and investors are fleeing. So far this year, the US$ has lost 11% of its value. Forget about the all- time highs on the stock market. It is just a mirage. Just like the mirage in the jobs market with high job creation trotted out only to be punctured like a balloon further down the road. Nothing is real, all hype and grandstanding.
Anonymous
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And yet the Fed claims days ago that the jobs market in the USA is 'solid'. What universe are those guys living in? There is little doubt that the pressure is getting to Jerone Powell, and he has to get on board the lying bandwagon. Does the Fed not realize that the job figures for May and June have been corrected to the tune of 258,000 jobs less than earlier reported? How solid is that? The lies are solid undoubtedly and more like it. Now this is not the first time such a massive correction has taken place. Millions of jobs were 'uncreated' last year the result of over-reporting throughout the year. Can I just say that this is 'overcapacity' in jobs reporting.
The USA Government and its agencies keep on lying when the reality is that jobs are being lost more than created. There is no shame, no guilt over the lies and just getting away with it. Oops, I just forgot that the USA is a Nation of Liars. None other than Mike Pompeo said that they lie, cheat and steal. Don't pick on me making false accusation.
In agriculture alone more than 250 farms have filed for bankruptcy. How many jobs have been lost? Added to that are retail outlets cutting down on unprofitable sites and food and beverage businesses closing outlets like a wildfire sale. How many jobs did Trump managed to add under his 'Make in USA' gloating? What about Federal jobs being done away with?
Trump keeps on gloating about a Tik Tok deal and throwing up dates about his visit to Beijing, despite all the lack of response from the Chinese side. He is just talking to himself, while Xi is totally ignoring his self-aggrandization.
The Tik Tok deal has been on the cards after so many 90 days grace passing on. Now another 90 days is being given. I think most people are getting tired of it. Xi should just tell ByteDance to pull Tik Tok out of the USA rather than selling it to a foreign buyer. There is a big enough space to play around with in the Global South and should not be giving the USA any room to dictate terms with the issue.
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