…is hoping to avoid a hard landing. FedEx may be an indication of where the US economy is going:
FedEx warns of worsening economy and pulls forecast; shares drop 16%
https://www.reuters.com/business/fedex-flags-hit-economic-sl…
We in Europe are not doing much better:
Fear of an “unprecedented” liquidity crisis in Europe
https://www.archyde.com/fear-of-an-unprecedented-liquidity-c…
UK is looking pretty dire.
It’s been living off imported capital, selling houses, office blocaks, infrastructure to foreigners for many years … now it’s going to borrow 100bn to pretend there’s no energy crisis. Third world economics: expect a weak pound, high inflation and high but not high enough interest rates … living standards are going to fall significantly … will be a winter of discontent … and maybe not just one winter …
https://www.cnn.com/2022/09/16/politics/russia-sanctions-ukr…
Russian sanctions slow to bite as US officials admit frustrations over pace of pain in Moscow
The sanctions imposed on Russia were ill conceived as they attempted to allow Europe (and the US) to have its cake and eat it too by simultaneously cutting off Russia’s sale of energy, yet continuing to depend on Russia’s export of energy. The same is true of food shipments, gold shipments and so on. There also seems to have been a conscious effort to “keep some future sanctions as ammunition” as well as “not pushing Russia too hard into a corner”,
Things have gotten so out of whack that Saudi Arabia is buying cheap Russian oil to run its energy need and free more Saudi oil for export.
“This is going to hurt me more than it hurts you” seems to be the result of porous lousy planning, more for political points than for effect.
It’s “possible” that the numbers we are seeing are being manipulated to Russia’s political advantage and likely, as well, that the effects of the sanctions may be felt asymmetrically across Russia with less effect in the European portion of the country.
In any case, the obvious challenges which will be felt in Western Europe this winter (as well as lesser economic disruption in the US) are likely to be stoked by Russia sponsored social media trolls into causing political disruption and violence. While Russia could care less about the ideology of the disruptors (as long as they are willing to become “extreme”), the current trend seems to be to use right wing groups as tools.
Jeff
UK is looking pretty dire.
It’s been living off imported capital, selling houses, office blocaks, infrastructure to foreigners for many years … now it’s going to borrow 100bn to pretend there’s no energy crisis. Third world economics: expect a weak pound, high inflation and high but not high enough interest rates … living standards are going to fall significantly … will be a winter of discontent … and maybe not just one winter …
You missed something. We make quite a bit doing this:
An expert on corruption studies and Central Asia politics in a webinar on Wednesday talked about ‘why London is the money laundering capital of the world’ and said, “there is a lack of political will to tackle this issue…”
https://theprint.in/world/why-is-london-money-laundering-cap…
Jeff,
The Kremlin is now going into the red. This is working.
If I do not have results right this minute means nothing.