Remember the good ol’ days of 2019, before COVID-19 changed almost everything? Back when Joe Biden was the affable former Vice President who promised to bring people together?
When his advisers insisted time and again that his 36 years in the Senate and eight years as Barack Obama’s Congress Whisperer would get big deals across the finish line?
Well, Washington is waiting to see if he can actually deliver on that sale, and it’s looking dicey.
What a shame.. I though dems might at least do 1 thing
Congressional Negotiators Have Failed To Reach A Deal On Police Reform : NPR
Lawmakers say police reform talks are over | TheHill
Do you think blacks will ever clue in to who is actually lying to them and using them for votes? Democrats won and BLM is gone, police reform is done and wage gains erased by inflation that in reality resulted in a pay cut. Plus, biden is forcing them to get vaccinated.
Talk about a boot on the neck
House Democrats have quietly moved to restrict the GOP's ability to use its limited power in the minority to press for investigations, an effort that has Republicans crying foul as they seek to pressure their foes over the Biden administration's handling of Afghanistan.
While a resolution of inquiry has less teeth than a subpoena — and the party in power would have the numbers to prevent it from advancing — it's one of the few investigative tools that the minority has at its disposal. At the very least, it would enable the minority party to force members of the majority to take a public stance and vote on certain issues in committee.
"Obviously, it's not going to go anywhere with Speaker [Nancy] Pelosi," Gibbs said about the Democratic-controlled house but added, "It shows that there are some Republicans that think that this president needs to be impeached, he needs to be removed from office one way or another."
Stocks tumbled around the world on Monday as markets focused on the severe troubles of property developer China Evergrande Group. A Chinese debt crisis will — either now or in the near future — bring down China’s economy, and the U.S. must delink from that country to reduce the damage to itself.
A crucial test comes Thursday, when Evergrande must pay $83.5 million in interest on its March 2022 bond. Payment of 232 million yuan due the same day has been “settled through negotiations.” Then, on Sept. 29, $47.5 million comes due on its March 2024 bond.
The betting on Wall Street is that Evergrande, the world’s most heavily indebted property company with a stunning $305 billion in obligations, will not become China’s Lehman Brothers.
Barclays on Monday noted that “a true ‘Lehman moment’ ” would require “a lenders’ strike across large parts of the financial system, a sharp increase in credit distress away from the real estate sector, and banks being unwilling to face each other in the interbank funding market.” For this to happen, most believe, “Chinese authorities would need to make a series of policy mistakes in response to the crisis.”
“China’s official debt-to-GDP ratio has soared by nearly 45 percentage points in the past five years, leaving it with among the highest debt ratios for any developing country in history,” reports Michael Pettis of Peking University. Evergrande’s debt by itself, he states, amounts to about 3 percent of the country’s annual GDP. Kyle Bass, the Dallas hedge-fund manager, believes China’s leverage is at least three times that of the U.S. prior to the 2008 crisis.
China’s fundamental problem is that there is too much debt in too many places. “This wouldn’t be as much of a problem if Chinese property developers, state-owned enterprises, local governments, and even ordinary households did not all have excessively high debt levels,” Pettis writes on the Carnegie Endowment site.
So China will have to face the music sometime, whether or not it has a “Lehman Moment,” and the U.S. can protect itself only by delinking its economy and markets from China’s as fast as it can. It is unwise to be joined to a country that, one way or another, will go down the tubes.
There are no good scenarios for China. The only good scenario for America is to run from China, fast.
Gordon G. Chang is the author of “The Coming Collapse of China.”
What a shame.. I though dems might at least do 1 thing
Congressional Negotiators Have Failed To Reach A Deal On Police Reform : NPR
Lawmakers say police reform talks are over | TheHill
this is so sad imagine being mad that the french got cucked by the usa
what happened to maga