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Monday, May 27, 2024
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HomeStatesideThe world’s troubles all lead back to America

The world’s troubles all lead back to America

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THERE is so much going on in the world that it is very hard for anyone to know how it will all play out. I am no expert but this is how I see it.

Starting with the US, right now, leading into May is a looming debt crunch for commercial property lenders with office buildings empty and some $900billion in debt to be paid. As borrowers give up and surrender properties back to the banks, a banking crisis seems inevitable as so many banks have borrowed money from the Federal Reserve; money is also due to be paid back around this time.

US debt stands at $34trillion which means that the world, which buys US securities to raise this money for the US government, is going to stop buying at some point. The USD is already devaluing, something the Fed has argued was the best way out of inflation. However it gets very dangerous when hyperinflation is reached and the economy crashes. It’s ordinary Americans, the people in the front line, who suffer. With credit cards being withdrawn and people living off the last remnants of their credit capability before collapsing into personal debt, it feels perilously close; car and home repossessions and delinquent payments are rising too – an ominous sign for the US economy – as reported here. 

Next there is the $61billion aid package for Ukraine at the very time when borders have collapsed and the economy could be teetering. Are they crazy? Where is this money coming from? There is much talk of stealing Russia’s sanctioned money but if the US does do that, it surely means that the security of assets held in the US disappears at the whim of whatever US government is in charge at the time; which in turn means the USD could head for a crash on this issue alone. How can the USD be seen as a reserve currency for the world when assets are no longer safe? Even The Telegraph seems to agree: Global money is supposed to be governed by law of contract; if the West can sequestrate Russian assets they can do it to anyone.

It is no wonder that gold is rising fast and solidifying its value, leaving open the question of whether it can fly up further as investors get more nervous. The biggest scare they face is a stock market crash. The 1929 crash was devastating, but in my opinion a 2024 crash will be bigger and cut deeper. It took ten years and the Second World War to recover from the 1929 depression. What would America look like in 2035? Recovered or still in crisis of massive business failure and destitution – people with no homes and no jobs? Can this be headed off?

My worry is that even were Mr Trump to be allowed back, can even his immense abilities resuscitate the economy in four years? His latest court case being brought by the vindictive Democrats in Manhattan, on false charges, is certainly taking its toll on him, and is possibly the reason for his latest worrying support for the Ukraine package. There are those who think he will be assassinated before then. Not least Tucker Carlson. Legal analyst Alan Dershowitz has warned that Democrats want the former President ‘killed’.

What happens in the US always rebounds in Europe. Can Europe ‘turn right’ in time, given the assiduous suppression of the alternative parties and movements? In the UK the Bank of England’s strategy seems to be ruled by the US Fed Reserve at times and means, as night follows day, that the UK will follow the US into the financial toilet.

Then there’s Ukraine – ‘they’ admit the war is lost, but the shills keep shilling, though they know the truth. A war based on lies, gross wrong-headed assumptions and laundering money was never going to be glorious. Viktor Orban’s staunch warning to the EU not to join war with Russia was timely.

To me, Russia, despite its troop losses, is the winner in all this. Its economy grows, its currency is strong, its weapons technology revealed as vastly superior, its troops losses at a ratio of one to ten  Ukrainians (whose soldiers, it must be said, are regarded by the Russians as resourceful brave fighters). All the ‘aid’ package will do is help prolong the war until just about every Ukrainian male is dead. Now, as the ground dries out in Ukraine, a Russian onslaught is about to be delivered and has started with the onslaught of Chasiv Yar. If this latest Russian ‘push’ manages to encircle Ukrainian troops to the North, or make a serious charge at the Dnieper river and on to Odessa, cutting off Ukraine from the sea, Kiev and Lviv would fall soon after. Or will that be the catalyst for the West – forcing the escalation that Orban fears? 

Meanwhile the facts on the mounting Middle East crisis (whatever your opinions) are these. One that there is a growing discontent with the Ayatollah regime in Iran amongst ordinary citizens who want democracy back. They wanted Israel to hit Iran hard to make the point to the Ayatollahs. Mayar Tousi, an Iranian, of Tousi TV is worth watching on this. 

Saudi and Jordan are very concerned about the destabilisation of the region by Iran and are looking to curtail Iran’s ambitions against Israel. New alliances seem to be forming. Iran’s latest attacks on Israel appear to have caused less damage than anticipated – the constant bombardment by Hezbollah in the north that has turned thousands of Israelis into refugees in their own country has received much less media attention. Almost certainly any remaining hostages that Hamas have are dead. Behind much of this mess, it’s yet again the Biden regime which seems to be funding all sides, Iran, Israel and likely Hamas too, the latter the beneficiary of British largesse for years.

Finally there’s Taiwan, the island that is home to the world’s supply of electronic chips, which China wants control of. Of course the US does not want this and has been ineptly trying to persuade the Taiwanese chip companies to set up in the US. Might this then be the first war about semiconductor chips?

So, much as I love the US and Americans, I really don’t like how the US government seems to be at the heart of every bit of trouble in the world.

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John Le Sueur
John Le Sueur
John Le Sueur is retired after a long career in the motor industry and lives in Spain. He is a qualified private pilot.

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