Situation of the economy

Ellipse

Ellipse

The Living Force
FOTCM Member
Jean-Pierre Chevallier is a French independent financial analyst who is interesting because he really read and decipher documents with a lot of numbers provided by banks and financial establishments. Since some weeks he post articles intituled "Momentum crash". Full articles are paid for but he post an overview.

Here is the last one, first time I see "red alert" in the tile.

Momentum crash: RED ALERT, updated to 22 September 2024​


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The 50 basis point cut in the Fed rate decided by FOMC members on 18 September has had the effect of... speeding up the onset of the momentum crash! Treasury yields are on a downward trend that is undoubtedly leading to a momentum crash; those who manipulate the financial markets will not be able to prevent this from happening in the foreseeable future... After the FOMC members' decision to cut the Fed's base rate by 50 basis points on Wednesday 18 September, the financial markets initially took off again in a very disorderly and irrational fashion.
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I thought the economy is already bad and we are in a recession. The PTB hasn’t called it yet due to the Trump factor and them not in full control of the way things are going. They will likely call it just before or after the elections, if Trump happens to win. Fwiw
 
(Translated from Fench)

G7 group warns of threat to financial sector.​

1) Israel has invaded Lebanon and Iran is preparing a ballistic missile retaliation that threatens to explode into a regional war.

2) Longshoremen have gone on strike, shutting down dozens of ports from Texas to Maine, affecting all inbound cargo along the southeast and east coasts. Supply chains will collapse.

3) In the regions affected by Helene, post-storm conditions worsen, giving way to looting, greed and despair.

President Biden said he may ask Congress to return early from its pre-election recess to pass additional funds to deal with the damage caused by Hurricane Helene. (Analysts at AccuWeather have revised their estimate of the total damage and economic cost of Hurricane Helene to $160 billion. The human cost and economic damage are likely to drain federal funds after FEMA already projected a $3 billion shortfall by the end of the year).
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To take with a grain of salt because I can't find a first hand source of the text but what is sure is that the PTB is currently meeting in Mirabella Eclano, Italy:
www.g7italy.it

Home Inglese | G7 Italia

Home page G7 Italy 2024
www.g7italy.it www.g7italy.it

Perhaps it's a draft and not yet published.
 
Russia has interconnected its MIR network (the Russian VISA credit card network) with the Iranian Shetab network, linking 287 million Russian cards with 344 million Iranian debit/credit cards. If you add to that the China UnionPay network, you have the birth of a new VISA,

That mean that the movement of money between these three countries will be greatly facilitated.

 
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