#Treasury Secretary Yellen
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There are consequences from US interest-rates remaining at 5.5% for the fiscal deficit and the Japanese Yen
Today is Federal Reserve day when just after 7pm (they are usually late) we learn the interest-rate decision of Jerome Powell and his colleagues. On the surface not much is expected which is highlighted by the front page of the Financial Times not mentioning it at all as I type this.Yet underneath the surface it is being very powerful via what the apocryphal civil servant Sir Humphrey Appleby…
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#Bank of Japan#business#debt management#Economics#economy#Finance#Fiscal Boost#GDP#Interest Rates#Investing#Japanese Yen#Jerome Powell#Treasury Secretary Yellen#US bond yields#US Federal Reserve
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#Janet Yellen#American economist and secretary of treasury#Life can be rough#but it teaches you gratitude and perse
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No Recession Narrative is full of Baloney! Who do you believe? Michael Douville
Now, the Government and Wall Street would like you to believe we are heading toward a soft landing; that continues to be the narrative.
John 18:38 Pilate says to Him, “What is truth?” And having said this, he went out again to the Jews and says to them, “I find no guilt in Him.
Who is most concerned about YOU? Do you trust the Federal Government to take care of YOU?
What you decide and what you start to realize, is going to make a huge impact on the way you survive in the Economy in the next 18-24 months.
Now, the Government…
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#assets under management#AUM#bankruptcy#cash#Chairman Jerome Powell#contraction#credit#credit cards#Debt#economic cycle#economy#Federal Reserve#government#interest rates#manufacturing#Paul Volcker#real estate#recession#soft landing#Treasury Secretary Janet Yellen#Wall Street
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North Atlantic Terrorist Organization’s (NATO’s) Outreach In Asia Exposes US’ Selfishness; Will Further Divide Group
— Zhao Yusha | July 09, 2023
Japan, The First Feeder of NATO in Asia. Cartoon: Vitaly Podvitski
Rifts within the NATO alliance over the potential expansion of the bloc's presence in Asia Pacific ahead of the NATO summit next week have been exposed by strong opposition from French President Emmanuel Macron. Chinese experts believe NATO's intention to extend its tentacles into Asia Pacific region not only exposes the selfish purpose of the US, which plays a central role in the alliance, to impose its own hegemonic intention over other NATO members' interests, but will further divide the group as in Europe, France may not stand alone in its opposition.
This year marks the second consecutive year that leaders from both Japan and South Korea will attend the summit. Observers see it as a sign that the two countries are seeking closer ties to better coordinate Washington's strategic moves to contain China. Such a "short-sighted" move will surely trigger China's strong opposition and result in regional countries' heightened vigilance.
NATO leaders will meet in Vilnius, capital of Lithuania from Tuesday to Wednesday. This summit is earmarked as a moment for making progress on the plan to open a liaison office in Japan, which would represent the organization's first outpost in the region.
Japanese Prime Minister Fumio Kishida, who is scheduled to participate in the summit for the second year in a row, will use the opportunity to stress the need for relations between Japan and NATO to be stronger, Japanese Chief Cabinet Secretary Hirokazu Matsuno said on Friday.
NATO allies are in discussion about a possible statement with four Indo-Pacific countries - Japan, South Korea, Australia and New Zealand - that would set out deeper cooperation and reiterate that security in Europe is interlinked with security in the region, Bloomberg quoted a senior European diplomat as saying on Saturday.
However, according to a report from Politico, Macron has voiced strong opposition, expressing concerns that opening a liaison office in Japan would shift NATO's focus too far from its original mandate in the North Atlantic.
Europe ‘Japanizing’ its US policy could backfire!
"We are not in favor as a matter of principle," stated an official from the Elysée Palace during a press briefing on Friday. The official further emphasized that the Japanese authorities themselves have not expressed significant interest in the proposed office.
Chinese experts said that French opposition may postpone NATO's move, but it may not be able to deter the alliance's growing tendency of getting more involved in Asia-Pacific matters.
There is a wide consensus within NATO that the alliance should focus primarily on transatlantic security. However, to serve its global hegemonic purpose, the US, who takes center stage of the alliance, is pushing for the organization to shift to the Asia-Pacific region, mainly to contain China, Li Haidong, a Professor at the China Foreign Affairs University, told the Global Times on Sunday.
The US and other NATO members are divided over whether to expand its role in Asia, said Li, pointing out that amid the background of the ongoing Russia-Ukraine conflict, some European countries are worried that such a move will dilute the organization' attention on the crisis.
Speaking during a special session at the IISS Shangri-La Dialogue in Singapore last month, NATO's assistant secretary-general for defense policy and planning Angus Lapsley said that the alliance does not wish to operate or expand in the Indo-Pacific, but it wants to be involved and engaged in the region to gain a better understanding of happenings in this part of the world, the Straits Times reported.
Pushing NATO to extend its role into Asia Pacific not only exposes the US' selfishness of imposing its own hegemonic goals over other members' national security, it will also risk dividing the alliance, as some NATO members may be reluctant to follow suit, Song Zhongping, a Chinese military expert and TV commentator, told the Global Times.
It would be a "very hostile move" to open a liaison office in Japan, Chinese experts said. The discussion comes at a time when the US is seeking to keep high-level communication lines open with China as US Treasury Secretary Janet Yellen just concluded her visit to China, who noted that the US does not seek to "decouple" from China.
At the same time that US’ Braindead Politicians are uttering sweet words to assure China that US is not to seek decoupling from Beijing, on the other hand, it is sparing no effort to marshal its allies to counter China in the region. These self-contradictory moves are deeply disturbing, Li said. He noted that these actions reveal a lack of sincerity and credibility by Washington to fix China-US relations.
US Vassals
Leaders from South Korea and Japan will hold a meeting on the sidelines of a NATO summit in Lithuania 🇱🇹 next week, South Korea's presidential office said on Sunday.
Similar to Japan's eagerness to welcome NATO to expand to Asia Pacific, South Korea, which is leaning more closely toward the US, is also allying itself closer to US-led small cliques in order to counter China.
Song pointed out that a meeting between Kishida and South Korean President Yoon Suk-yeol is set to further mend disputes between two countries and forge closer military ties to better serve Washington's goal of a trilateral alliance in the region. However, Song said different from Japan's taking proactive gesture of welcoming NATO, South Korea to some extent has been hijacked by the US to serve the latter's interest.
In January, Jens Stoltenberg, Secretary General of NATO, urged South Korea to "step up" military support for Ukraine, citing other governments that have changed their policies on exporting weapons to Ukraine. Ever since the start of the Ukraine war, pressure has been building on Seoul to send its arms to Kiev, from the US, UK and EU member states.
Lü Chao, an expert on the Korean Peninsula at the Liaoning Academy of Social Sciences, described South Korea and Japan's attaching themselves to the US' chariot as a "short-sighted and dangerous" move, as standing at the front line of US containment of China will also put themselves on the front line of China's countermeasures.
Moreover, inviting extraterritorial military alliances into the Asia-Pacific region arouses heightened vigilance by regional countries, which crave stability, Lü said.
Speaking in June at a graduation ceremony for students, Cambodian Prime Minister Hun Sen said, "NATO only exists in the West, and now it seems to be involved in the Asia-Pacific region in various activities, bringing concerns for ASEAN," Cambodian media reported.
#North Atlantic Terrorist Organization#Japan 🇯🇵#USA 🇺🇸#Joe Biden#Japanese Prime Minister Fumio Kishida#French 🇫🇷 President Emmanuel Macron#Japan 🇯🇵 South Korea 🇰🇷 Australia 🇦🇺 and New Zealand 🇳🇿#Vilnius Capital of Lithuania 🇱🇹#China Foreign Affairs University#US Treasury Secretary Janet Yellen#Jens Stoltenberg Terrorist Secretary General of NATO#Cambodian Prime Minister Hun Sen
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Last July, The Intercept obtained an internal Bank of America memo that stated “we hope the ratio of job openings to unemployed is down to the more normal highs of the last business cycle.” Translated into English, this means the bank was rooting for there to be fewer job openings.
Likewise, a California real estate CEO said on an earnings call last year that a recession could be “good” if “it comes with a level of unemployment that puts employers back in the driver seat and allows them to get all their employees back into the office.”
Around the same time, an anonymous Texas businessman told the Dallas branch of the Federal Reserve about his delighted anticipation that “the workforce pulls its head out of its rear when a correction or recession makes jobs scarce and people start to feel the pain or fear of not providing for their family and loved ones.” He did have one concern, however — that the government might “jump back into the fight and pay them to do nothing again.”
Even Janet Yellen, the current secretary of the Treasury and former chair of the Fed during the Obama administration, wrote this in a 1996 memo: “Unemployment serves as a worker-discipline device because the prospect of a costly unemployment spell produces sufficient fear of job loss.”
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Treasury: America is on the path to default on the first of June
US Treasury Secretary Janet Yellen confirmed Monday that it is unlikely that the department will meet all US government debt obligations by early June, leading the United States to default for the first time in its history.In her second message to Congress in two weeks, she added that the debt ceiling could become binding by June 1.
The new date reflects more data on revenue and payments since…
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#Arab book#Arab world#news agency#political news#The UAE#United State#US Treasury#US Treasury Secretary Janet Yellen#World News
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US Finance Minister met Union Minister Nirmala Sitharaman
US Treasury Secretary Janet L Yellen has revealed that she intends to further tighten the sanctions imposed by Russia, which went to war against Ukraine. They said that their aim is to damage Russia's military and industrial systems. She came to Bengaluru to participate in the ongoing G-20 Finance Ministers and Central Bank Governors (FMCG) meeting. Met Union Finance Minister Nirmala Sitharaman.
#Janet L Yellen#Us Treasury secretary#Russia#War#Ukraine#Breaking news#Bengalore#Finance Ministers#Central Bank#FMCG#Nirmala Sitharaman
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There are warning signs about the US fiscal position and the national debt
Today a story which was all the rage around 6 months ago has come back to the surface as the Financial Times has led with this.
The US faces a Liz Truss-style market shock if the government ignores the country’s ballooning federal debt, the head of Congress’s independent fiscal watchdog has warned.
To be fair to the head of the Congressional Budget Office he knew how to trigger the Financial…
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#business#Economics#economy#Federal Reserve swap lines#Finance#Fiscal Deficit#GDP#Interest Rates#national debt#President Joe Biden#QE#Treasury Secretary Yellen#US bond yields#US Federal Reserve
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If India wants to use Western insurance, price cap would apply: US treasury secretary Yellen | India News
WASHINGTON: “We want Russian oil to continue to supply global markets; stay on the market. But we want to make sure that Russia doesn’t profit unduly from the war by enjoying prices that are essentially very high due to the war,” US treasury secretary Janet Yellen told PTI in an exclusive interview on Monday ahead of her trip to India later this week.
India’s oil purchase from Russia and the Ukrainian invasion is expected to be significant topics of discussion during her India trip, where Yellen is travelling to primarily co-chair the US-India Economic and Financial Partnership (EFP) dialogue along with Union finance minister Nirmala Sitharaman.
“Our objective is to hold down the price that Russia receives for its oil and keep that oil trading. The gainers from this will be particularly those countries that do buy cheap Russian oil, and our hope would be that India would take advantage of this price cap, though its firms are bargaining with Russia,” Yellen said.
“If they (India) want to use Western financial services like insurance, the price cap would apply to their purchases. But even if they use other financial services, we believe the price cap will give them leverage to negotiate good discounts from world markets. We would hope to see India benefiting from this programme,” the treasury secretary told PTI in response to a question. India, which imports nearly 85% of its fuel requirement, until March imported just 0.2% of all oil requirements from Russia.
Russia now makes up for 22% of India’s total crude imports, ahead of Iraq’s 20.5% and Saudi Arabia’s 16%. Agencies
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#Apply#Breakingnews#cap#Googlenews#India#Indianews#Indianewstoday#Insurance#janetyellen#News#nirmalasitharaman#Price#russia#secretary#Todaynews#treasury#western#yellen
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Where did she get her degree? Clown college? WE ARE ALREADY IN A RECESSION.
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After Five Months of Strained Ties, US Admits Chinese Balloon Did Not Collect Information
— Global Times Staff Reporters | June 30, 2023
Graphic: Global Times
After repeated hyping of the so-called Chinese spy balloon incident for nearly five months, the Pentagon on Thursday admitted the airship did not collect any information, not to mention send any data back to China. This is an objective result that should be welcomed, but it came too late, as the incident has damaged mutual trust, totally changed the environment for communication between China and the US, and caused the two sides to miss a better time to restore relations, Chinese experts said.
Analysis of debris collected from a Chinese balloon drifting into the sky over the US and shot down by the latter in February showed that "it did not collect [any information] while it was transiting the US or over flying the US" despite that it "had intelligence collection capabilities," Pentagon spokesperson Brigadier General Pat Ryder told media on Thursday.
A Chinese balloon spent a week in February flying over the US and Canada before it was shot down by a fighter jet off the Atlantic coast, on orders from President Joe Biden. Although Chinese authorities reiterated that the balloon was a civilian weather balloon, some US media and hawkish politicians continued to hype it as a spy balloon, underscoring the increasing tensions between the world's two largest economies.
In response, Chinese Foreign Ministry spokesperson Mao Ning said at a press conference on Friday that China has reiterated on many occasions that the Chinese civilian airship drifting into the sky over the US was an unintended, unexpected and isolated event caused by force majeure. Calling the airship a "spy balloon" and claiming it is used to collect intelligence is total slandering and smearing, Mao stressed.
Citing some anonymous officials, a Wall Street Journal report on Thursday claimed that the balloon was found to be carrying some American-made equipment helping it to collect photos, videos and other information. Ryder did not confirm the report on Thursday when he announced the result of the Pentagon's analysis.
The Pentagon's brief announcement on Thursday showed that the US, or at least the US' defense department, is trying to close the chapter on the incident as it must have realized that the facts are slapping them in the face, Lü Xiang, a research fellow at the Chinese Academy of Social Sciences, told the Global Times on Friday.
"We should welcome the move, but I have to say that it is far from enough. The US hyping damaged the basic mutual trust between China and the US and set a bad precedent in dealing with a foreign country's civilian facility by using the military to shoot down the balloon. They should express regret for the decision," Lü said.
The balloon incident fundamentally changed the atmosphere between the two countries. Blinken postponed a reported visit to Beijing. This led to a delay in the progress of China-US interactions of about five months for no good reason, which is very unfavorable given the already high tension between the two countries, Lü noted.
Secretary of State Antony Blinken was said to have been planning a diplomatic trip to China before the balloon incident, but reportedly postponed the plan soon after it occurred. The trip was rescheduled and Blinken visited Beijing in June.
However, the US Department of Defense's Defense Security Cooperation Agency on Thursday approved new arms sales to Taiwan worth $440 million. The arms package is to include 30mm ammunition, spare parts for wheeled vehicles and other items, according to media reports. This is the 10th arms-sales package to Taiwan made under US President Joe Biden.
China urges the US to abide by the one-China principle and the provisions of the three China-US joint communiqués, stop selling weapons to Taiwan island, stop creating factors that lead to tensions in the Taiwan Straits and stop damaging the peace and stability in the region, Mao Ning said in response to the deal at the Friday press conference.
The US is building Taiwan island into a powder keg and ammunition depot. This is not "protecting" or "defending" the island but damaging and ruining it, the Taiwan Affairs Office of China's State Council said Friday, slamming the deal.
Earlier this week, a US bipartisan congressional delegation led by House Armed Services Committee Chairman Mike Rogers landed in Taiwan for a three-day visit.
We must face the fact that US diplomacy will continue to show a character of being two-faced, as it views China as a main strategic opponent and will not change its strategy of containing China before it regains an absolute advantage over China, Lü said.
The Chinese central government must have become aware of this and is making adjustments in its strategy in the Taiwan Straits and the South China Sea to maintain China's practical control of the regions amid the US' provocation, Lü pointed out, citing China's firm actions in the Taiwan Straits since last year including large-scale military drills and the flying of fighter jets across the so-called median line of the Taiwan Straits, which the Chinese mainland had declared a non-existent concept.
Some experts expect more windows of opportunity in China-US relations to open after US Treasury Secretary Janet Yellen was reported to be planning a trip to China in early July, but they also warned that the window will not be open for long, so Washington needs to make sincere moves rather than create new trouble.
When asked is there still a window of opportunity to repair China-US ties before US elections, former Chinese Ambassador to the US Cui Tiankai told the Global Times on Thursday that it's never too late if there is political will. "China has shown its political commitment to improving relations."
#USA 🇺🇸#China 🇨🇳#Chinese Balloons 🎈#US Treasury Secretary Janet Yellen#House Armed Services Committee Chairman Mike Rogers#Secretary of State Antony Blinken#Taiwan 🇹🇼#Chinese Foreign Ministry spokesperson Mao Ning
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G20 FINANCE LEADERS FOCUS ON FOOD CRISIS
Group of 20 (G20) finance ministers and central bank governors started official meetings in Indonesia’s Bali island on Friday, with discussions focusing on rising economic pressures from soaring inflation as well as a growing global food shortage crisis.Food insecurity is one of the top issues on the agenda at the G20 meetings, where host Indonesia has been trying to find common ground in a group…
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China's Liu He and US Treasury Secretary Janet Yellen hold virtual talks
China’s Liu He and US Treasury Secretary Janet Yellen hold virtual talks
Chinese Vice Premier Liu He represented his country in the signing of a trade agreement with the United States in January 2020.
Saul Loeb | AFP | Getty Images
BEIJING – Chinese Deputy Prime Minister Liu He and US Treasury Secretary Janet Yellen He held a virtual call on macroeconomic issues on Tuesday, according to official statements from both sides.
The Chinese reading affirmed the importance…
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#Asian economy#business news#Chinas#Donald Trump#hold#Janet#Janet Yellen#Joe Biden#Liu#Market clerk#Markets#Secretary#Stock markets#talks#Treasury#virtual#Yellen
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U.S. annual inflation hits 8.6% in May, highest since 1981
New Post has been published on https://www.timesofocean.com/u-s-annual-inflation-hits-8-6-in-may-highest-since-1981/
U.S. annual inflation hits 8.6% in May, highest since 1981
Washington (The Times Groupe)- The U.S. annual inflation hit 8.6% in May, the highest level since December 1981, official data showed on Friday.
The figure exceeded market expectations of 8.3%.
The increase was broad-based, with housing, gasoline, and food contributing the most, the US Bureau of Labor Statistics reports.
On a year-over-year basis, energy prices rose 34.6%, the most since September of 2005, and food costs rose 10.1%, marking the first increase of 10% or more since March of 1981.
The US Treasury secretary Janet Yellen acknowledged last week that she was wrong about “the path inflation would take.”
The economy has been hit by unanticipated and large shocks that have boosted energy and food prices and caused supply bottlenecks that have affected our economy adversely, Janet Yellen told CNN.
In recent weeks, some Fed officials have also said that inflation in the country is similar to the levels seen in 1974 and 1983, when US consumers felt squeezed by high prices. U.S. annual inflation
#CNN#Consumer Price Index in us#Current US Inflation Rates#Energy and food drive US inflation#Fed officials#Inflation and consumer prices (annual %) Data in us#Inflation and Consumer Spending#latest News#The Times Groupe#Times#Times Of Ocean#U.S. annual inflation#U.S. Inflation forecast#Unravel News#US Bureau of Labor Statistics#us economic news#Us Inflation Rate#US inflation resumes rapid rise#us news#US Treasury secretary Janet Yellen#what is inflation#What is the current rate of US inflation#Economy
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by Dion J. Pierre
The US House of Representatives has launched an investigation into 20 nonprofit organizations that are currently funding anti-Zionist student groups mounting pro-Hamas demonstrations on college campuses, an effort aimed at uncovering long suspected links to terrorist organizations and other hostile foreign entities.
As part of the inquiry, US Reps. Virginia Foxx (R-NC) and James Comer (R-KY) wrote to Treasury Secretary Janet Yellen on Tuesday, asking her to share any “suspicious activity reports” generated by the activities of Students for Justice in Palestine, Jewish Voice for Peace, American Muslims for Palestine, Tides Foundation, Rockefeller Brothers Fund, Bill & Melinda Gates Foundation, the Council on American-Islamic Relations, and other groups.
Foxx and Comer chair the House Committee on Education and the Workforce and the House Committee on Oversight and Accountability, respectively.
“The committees are investigating the sources of funding and financing for groups who are organizing, leading, and participating in pro-Hamas, antisemitic, anti-Israel, and anti-American protests with illegal encampments on American college campuses,” Foxx and Comer wrote in their letter to Yellen. “This investigation relates to both malign influence on college campuses and to the national security implications of such influence on faculty and student organizations.”
The inquiry comes amid widespread suspicion that an eruption of anti-Zionist protests on college campuses, in which students illegally occupied sections of section and refused to leave unless their schools agreed to condemn and boycott Israel, was fueled by immense financial and logistical support from outside groups. Foxx and Comer said in their letter that the investigation’s findings will inform recommendations for new federal laws requiring increased transparency and reporting of foreign contributions to American colleges and universities.
On Tuesday, Foxx told the Washington Free Beacon, which first reported the investigation, that the protests were a symptom of a larger threat to national security.
“It’s no coincidence that the day after the October 7 Hamas terrorist attack, antisemitic mobs began springing up at college campuses across the country,” Foxx said. “These protests have been coordinated and well organized, indicating that outside groups or influences may be at play. American education is under attack. It’s critical that Congress investigates how these groups — who are tearing apart our institutions — are being funded and advised before it’s too late.”
Foreign links to the anti-Zionist student movement have been the subject of numerous comprehensive studies.
Last week, the Network Contagion Research Institute (NCRI) published a report showing a connection between the anti-Zionist group Shut It Down for Palestine (SID4P) — a group formed immediately after Hamas’ massacre on Oct. 7 — and the Chinese Communist Party (CCP). NCRI explained that SID4P, which organized numerous traffic-obstructing demonstrations after Oct. 7, is an umbrella group for several other organizations which compose the “Singham Network,” a consortium of far-left groups funded by Neville Roy Singham and Jodie Evans. The report describes Singham and Evans as a “power couple within the global far-left movement” whose affiliation with the CCP has been copiously documented.
“The Singham Network exploits regulatory loopholes in the US nonprofit system to facilitate the flow of an enormous sum of US dollars to organizations and movements that actively stoke social unrest at the grassroots level,” the report said. “Alternative media outlets associated with the Singham Network have played a central role in online mobilization and cross-platform social amplification for SID4P.”
In 2022, the National Association of Scholars (NAS) revealed that one of the founders of Students for Justice in Palestine, Hatem Bazian, is also a co-founder of American Muslims for Palestine, an advocacy group which, NAS said, “retains ties to terrorist groups operating in the Palestinian Territories.”
NAS added that the Palestinian Campaign for the Academic Cultural Boycott of Israel — which has been influential is steering the boycott, divestment, and sanctions (BDS) movement against Israel in academia — is “structurally linked” to Palestinian terrorist organizations through the Council of National and Islamic Forces in Palestine — a member of the Palestinian BDS National Committee which comprises Hamas, the Popular Front for the Liberation of Palestine (PFLP), Popular Front-General Command, Palestinian Liberation Front, and Palestinian Islamic Jihad.
“On the one hand, BDS is designed to secure political legitimacy vis-á-vis Israel, with boycotts and divestment offering Palestinian activists and terrorists new domains to assert their cause,” NAS senior fellow Ian Oxnevad wrote. “On the other hand, BDS, along with the formation of multiple NGOs and nonprofit organizations, offers the Palestinians new avenues by which to access funding in a post-9/11 international financial system designed to curtail funding for terrorism.”
#anti-zionists#protests#students for justice in palestine#bds#virginia fox#james comer#investigation
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