While the US has its problems, future global Chinese supremacy won’t be one. Far from being in a position of overwhelming strength, China and its Communist leadership face imminent multifront domestic crises that will threaten the existence not only of the Chinese Communist Party (CCP) but the existence of the Chinese state as a unified whole.
Sixteen months ago, in March 2020, we argued for an end to government-imposed shutdowns of businesses, schools, churches, restaurants, and events due to the covid virus.
For Fadi Achour, the general manager at Delta Hotels in suburban Detroit, September can’t come soon enough. He is operating with less than half his normal staff. Room service and overnight cleaning has been nixed. The restaurant has limited hours and a bare-bones menu.
A lot of the economic data that came out last week looked pretty good. GDP growth came in big in the first quarter. Personal income rose by a record amount in March. The mainstream spun it all as positive, raving as if the economy is earning an ‘A.’
The booming technology trade that helped lift the market to new highs during the pandemic continues to unwind Thursday as Treasury yields spike further on dovish comments from the Federal Reserve, which experts believe could be fueling concerns over rising inflation and lower stock-market valuations.
The Federal Reserve kept its policy rate unchanged on Wednesday but sharply ramped up its expectations for economic growth — while affirming that it does not plan to raise interest rates until 2023. The central bank also curiously reworded the public statement accompanying its decision.
