Obama's overreaching oar...

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Blogpost title referring to Obama (all posts) infamously (IMHO :-) ) sticking his overreaching oar into purely UK matters...now Creepy Joe has done the same (in what many call Obama's third term):

Friday: White House Press Secretary Karine Jean-Pierre says:

"And, you know, we’ve been very clear — like, we won’t comment on the UK government’s — their dem- — their own domestic policies or internal decision-making... [...] 

"So, not something that we’re going to comment on.

But anything specifically that’s related to their domestic policies or domestic decisions, we’re just not going to comment on that." [LINK]

Saturday: cue Sleepy/Creepy Joe/Brandon doing exactly what she said they wouldn't do: commenting on domestic policies (reported today in UK).

You may claim it's international because err...because the mini-budget caused worldwide ructions...really? Of course part of it could be THIS,** [OECD tax database] doing what TPTB don't want you to do; that could explain the IMF's strange intervention and now Creepy Joe. "The Biden administration wants to raise the U.S. corporate tax rate to 28%, so it has proposed a global minimum of 21% – double the rate on the current GILTI tax." 

Of course none of it is anything to do with trillions in debt, derivative failures, failing banks, looming crash, years of quantative easing, lockdown lunacy etc...

**Source: 145cm.net/finance

Owing options...

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Another interesting money related graph; not the debt (see Owning outstanding) but - look away Venezuelans - the world's riskiest sovereign debt (the Business Insider graph uses cost prices of CDS (credit-default swaps), "which are derivatives that pay out if a borrower defaults.". Hat-tip Caracas Chronicles where DAUZ has a an great explanation of how CDS work for those not so au fait with the financial lingo and definitions.

Owing options...

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Another interesting money related graph; not the debt (see Owning outstanding) but - look away Venezuelans - the world's riskiest sovereign debt (the Business Insider graph uses cost prices of CDS (credit-default swaps), "which are derivatives that pay out if a borrower defaults.". Hat-tip Caracas Chronicles where DAUZ has a an great explanation of how CDS work for those not so au fait with the financial lingo and definitions.

Osorio's overstatement; OLP overkill...

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Basically bankrupt [Link]

[edited a.m. 090815] Venezuelan 'Minister for Food' (really?) Carlos Osorio pledged two months ago that the food crisis would be over in two months...not only is it still going on but the lines of waiting customers are getting longer. Also, looting in increasing (when the people in the lines get exacerbated) but the government would rather try to shoot the messenger in an attempt to belie the message. And now the unthinkable: the beer is running out; "take away beer and things get risky" [Link], this I can vouch for from personal experience (bit like THIS). From the 'Link' link, a store owner - without 'milk and bottled water for months' - says "People more freaked out about losing beer than water – it shows how distorted our priorities have become here"; in a land where petrol costs the tank-filler less than 2 dollar cents a litre this is hardly surprising. The courts silence opposition but also "low-profile dissenters", and are slowly but surely 'annulling' political parties by appointing pro-government cliques to lead them. There is no doubt that the country is near to a 'major social crisis' (been there for years some say and no surprise to others), this year's elections will be interesting.



The OLP have been busy, (Operativo de Liberación y Protección del Pueblo / The People's Liberation and Protection Operative) with Krusty 2nd Nick Ripe saying that the OLP will continue until "criminal gangs and paramilitary practices infiltrated into the country by the right are eliminated"...fine but I'm assuming that many of these are the same gangs formed and armed by Chavez. 

Osorio's overstatement; OLP overkill...

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Basically bankrupt [Link]

[edited a.m. 090815] Venezuelan 'Minister for Food' (really?) Carlos Osorio pledged two months ago that the food crisis would be over in two months...not only is it still going on but the lines of waiting customers are getting longer. Also, looting in increasing (when the people in the lines get exacerbated) but the government would rather try to shoot the messenger in an attempt to belie the message. And now the unthinkable: the beer is running out; "take away beer and things get risky" [Link], this I can vouch for from personal experience (bit like THIS). From the 'Link' link, a store owner - without 'milk and bottled water for months' - says "People more freaked out about losing beer than water – it shows how distorted our priorities have become here"; in a land where petrol costs the tank-filler less than 2 dollar cents a litre this is hardly surprising. The courts silence opposition but also "low-profile dissenters", and are slowly but surely 'annulling' political parties by appointing pro-government cliques to lead them. There is no doubt that the country is near to a 'major social crisis' (been there for years some say and no surprise to others), this year's elections will be interesting.

The OLP have been busy, (Operativo de Liberación y Protección del Pueblo / The People's Liberation and Protection Operative) with Krusty 2nd Nick Ripe saying that the OLP will continue until "criminal gangs and paramilitary practices infiltrated into the country by the right are eliminated"...fine but I'm assuming that many of these are the same gangs formed and armed by Chavez. 

Owning outstanding...

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Outstanding as in not yet paid! Interesting visualization of then nearly USD 60 T-T-Trillion world debt by country (note: the data comes from the IMF and only covers public government debt i.e. this excludes the debt of citizens, businesses and unfunded liabilities). It is also colour coded by region. As usual click to enlarge or see it courtesy of Visual Capitalist (Hat-tip Zero Hedge).



It goes with a previous image of the World Economy that isn't as relative as you'd think: Japan for instance with 6.18% of total economic production but has almost 20% of global debt; along with the USA the two countries account for just under 30% of the global economy but just under 50% of the global debt...and who owns that debt?



Next month Owsblog reaches it's 10 year birthday, pity I'm hardly managing a couple of blogposts a month! I've made excuses before and been busy before.  :-(

Owning outstanding...

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Outstanding as in not yet paid! Interesting visualization of then nearly USD 60 T-T-Trillion world debt by country (note: the data comes from the IMF and only covers public government debt i.e. this excludes the debt of citizens, businesses and unfunded liabilities). It is also colour coded by region. As usual click to enlarge or see it courtesy of Visual Capitalist (Hat-tip Zero Hedge).

It goes with a previous image of the World Economy that isn't as relative as you'd think: Japan for instance with 6.18% of total economic production but has almost 20% of global debt; along with the USA the two countries account for just under 30% of the global economy but just under 50% of the global debt...and who owns that debt?

Next month Owsblog reaches it's 10 year birthday, pity I'm hardly managing a couple of blogposts a month! I've made excuses before and been busy before.  :-(

Orwell­oscope options...

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Atando los cabos sueltos, but not at Los Cabos! More from Canada, this time the Financial Post: I like Peter Foster's phrase "Mañana-nomics". Much of the rest of what Peter says makes good sense and is certainly true in many respects: Barroso spitting the dummy, "Europeans have no desire to be ruled by the likes of Messrs Van Rompuy and Barroso... Sunday’s Greek election solves nothing... [Hollande’s] allegedly bright new alternative policy amounts to less fiscal responsibility and more unserviceable debt" etc. Opportunity knocks...

Orwell­oscope options...

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Atando los cabos sueltos, but not at Los Cabos! More from Canada, this time the Financial Post: I like Peter Foster's phrase "Mañana-nomics". Much of the rest of what Peter says makes good sense and is certainly true in many respects: Barroso spitting the dummy, "Europeans have no desire to be ruled by the likes of Messrs Van Rompuy and Barroso... Sunday’s Greek election solves nothing... [Hollande’s] allegedly bright new alternative policy amounts to less fiscal responsibility and more unserviceable debt" etc. Opportunity knocks...