Yes, the real downward trend started with outsourcing to China. That took away the jobs that these communities depended on. I'm not sure how many of those jobs are really coming back. A lot of them will just go to Vietnam and India. Yes, Kamala will have to do her best to lure some of the jobs back and hopefully create a climate that allows new and old companies to manufacture things locally. It's not just good for the economy, but also good for the climate.
The ultra-rich in the US are already halfway there. They have a lot of influence on politicians. The lobbying system is not democratic. People vote and then the corporations (owned by the ultra-rich) get an extra say because they can send their paid people to Washington DC to influence the agenda and decisions. 🤔
But I agree... Their wet dream is to have even more influence and the autocrat model would work well for them.
- Russia’s economy is overheating due to high spending on Ukraine. GDP growth is expected to slow from over 4% in Q2 to about 2% in H2 2024, and 0.5%-1.5% in 2025. - Labour is scarce, with unemployment at a historic low of 2.4%. - The central bank raised rates to 18% to combat persistent inflation. - Construction and banking are affected by high rates; capital investment remains robust. - Long-term issues include low population growth and a challenging investment climate.
Putin's best days are definitely behind him. It will take Russia a decades to recover from this grossly miscalculated invasion. Then it's time to elect another Putin and rinse & repeat.
You're right about investments. Some capitalists have had to write off their assets in Russia as business losses.
But Russia will remain a resource economy for the foreseeable future. That's why immoral capitalists like Elmo are cozying up to Putin... They all want cheap natural resources.
The same goes for China. As long as China is the dominant player when it comes to rare earth minerals (and cheap labour), the capitalists will flock to Xi's bum and lick it as best they can.
DW interview with retired U.S. Army General Ben Hodges. In the interview they discuss Ukraine's border crossings into Russia, noting that they are in line with Western policy of supporting Ukraine's self-defense. He emphasized that the U.S. hasn't obstructed Ukraine's actions and mentioned strategic reasons behind Ukraine's move. Hodges also addressed concerns about how the upcoming U.S. elections might affect support for Ukraine.
Putin feels generous. He's giving 10,000 rubles to the people of Kursk who need help. I'm sure Tucker Carlson can tell the Russians how far 10,000 rubles (~USD 115) will get you. Everything is so cheap. 😉
My gut feeling is that the Russians picked up on some of the buildup, but failed to do anything about it because of their lousy command structure. It's kind of like what Anders wrote in a comment yesterday (or the day before)... The Russians are reactive.
Just an armchair chieftain trying to make sense of world politics and conflicts. 100% pro-Ukraine, 100% pro-democracy.Born and raised in Sweden. Exported to Canada. Lived about half my life in Canada. I love both countries.The profile picture is a replica of a Viking helmet. And no, the Vikings didn't have horns on their helmets. That was introduced in Wagner's opera The Ring of the Nibelung.The header picture is of the Viking castle in Trelleborg (also called Trelleborgen).