USA - Money manager and economist Peter Schiff said in October the Federal Reserve “could NOT win the fight on inflation by raising interest rates.” As inflation just turned up anew, it looks like he was right — again. Schiff explains, “Based on the recent data we got… the inflation curve has bent back up. The months of declining inflation are in the rearview mirror. Now, we are going to see accelerating inflation… and I think before the year is over, we are going to take out that 9% inflation high last year in year over year CPI (Consumer price Index)… and what that is going to show is what the Fed has done thus far in its inflation fight is completely ineffective."
ISRAEL - Forget the bromides about America’s “unbreakable bond” with Israel and how the United States is Israel’s “greatest friend.” Over the past week, the Biden administration has crossed two ominous red lines. For the first time in six years, the US enabled a vote against Israel at the United Nations, supporting a UN Security Council statement condemning Israeli “settlements.” Eight days previously, Israel had legitimized nine Israeli settlements that were erected without government approval. This was Israel’s bullish response to the wave of recent terror attacks by jihadi gangs that the Palestinian Authority has allowed to proliferate in the disputed territories of Judea and Samaria.
USA - Financial and geopolitical cycle analyst Martin Armstrong said at the end of last year, the US is being set up for a “nightmare fall.” Train derailments and political problems are spinning out of control, but the biggest threat is war. Armstrong explains, "They want a war, but they also need it because the monetary system is collapsing... You have had interest rates at negative since 2014. So, suddenly interest rates are rising. Any bond owned by any institution in Europe is a loser. They have lost so much money, it’s incredible. What happens? Nobody is interested in long term debt – period."
SOUTH KOREA - The leader of South Korea’s ruling conservative People Power party has suggested that the country “seriously consider” developing nuclear weapons if existing strategies to mitigate Pyongyang’s threats continue to be ineffective. Tensions on the Korean peninsula have flared up since North Korea resumed its ballistic missile tests for the first time since January 1. This followed a record number of missile launches in 2022.
CHINA - China has released its Global Security Initiative Concept Paper, which focuses on preventing conflicts and promoting global security, while blasting the use of sanctions in foreign policy. The initiative, which was unveiled by the Foreign Ministry on Tuesday, hinges on several core concepts and principles meant to help both China and the international community navigate in what the document describes as an “era rife with challenges.” It prioritizes UN-centered security governance, stating that “the Cold War mentality, unilateralism, bloc confrontation and hegemonism contradict the spirit of the UN Charter and must be resisted and rejected.”
USA - Walmart on Tuesday reported strong sales and profits last quarter but said that times would be tougher this year, a warning that consumers were starting to pull back as they felt the squeeze from relentlessly rising prices for everyday goods. Walmart’s quarterly revenue of $164 billion was 7.3 percent higher than same period a year earlier. December was the best month for sales in history at Walmart’s US stores, the company said.
USA - The military has called off its search for the remains of the three objects, which are now thought to have been harmless balloons. The Pentagon blew more than $1.5 million to shoot down three mysterious objects spotted in US and Canadian airspace earlier this month, multiple defense officials told the Wall Street Journal, though they suggested the true cost is likely higher.
UK - A year ago on Friday, President Vladimir Putin unleashed blitzkrieg on Ukraine. It was an unprovoked assault that has so far led to more than 200,000 people being killed or wounded, but has failed in its intention of establishing Russian hegemony over its democratic neighbour. The West and much of the rest of the civilised world were shocked by the invasion, as well as being horrified and disgusted by the brutality of the Russian armed forces.
USA - It is kind of like watching a really bad Hollywood disaster movie slowly play out, except in this case billions of people could end up dead. Thanks to the endless bumbling of the Biden administration, Russia and China have been pushed into each other’s arms, and now they seem determined to confront the western powers together.
JAPAN - Japanese Prime Minister Kishida Fumio said on Monday that he will invite Ukrainian President Volodymyr Zelensky to participate in the Group of Seven (G-7) online summit, which begins on Friday. Kishida’s government said on Wednesday that it will guarantee a loan for $5.5 billion to Ukraine from the World Bank, fulfilling Kishida’s pledge of financial assistance for “people who were robbed of their daily lives by the war.” Kishida topped off this bout of all-in support for Ukraine by proposing that he might visit Kyiv soon.
TAIWAN - Washington is planning to send between 100 and 200 troops to Taiwan “in the coming months,” the Wall Street Journal reported on Thursday, citing anonymous officials. The personnel will be tasked with training the Taiwanese military against what was described as a “rising threat from China.”
TURKEY - The ground in Turkey and northern Syria was torn, cracked open, and dragged in different directions after the massive 7.8 magnitude quake and its aftershocks on February 6. Land on either side of the ruptures moved in opposite directions, settling up to 7 metres from its starting point in some locations, according to data provided by Chris Milliner of the California Institute of Technology. The main quake had a long rupture with displacements of up to 5 metres. The shorter rupture from the 7.5 aftershock saw larger land displacements of up to 7 metres in places.
USA - ABC News reported: US consumer credit card debt has jumped to nearly $1 trillion, the Federal Reserve Bank of New York said on Thursday. Credit card balances increased more than $60 billion over the three months ending in December, lifting the total amount of US credit card debt to an all-time high of $986 billion, the report found.
VATICAN - Pope Francis has scandalized victims of sexual abuse by declaring that paedophilia is a mysterious illness and we must not judge those who are suffering from it. Instead, according to the pope, we must accept that God loves paedophiles, he created them for a reason, and he has reserved a special place in heaven for them. According to Francis, we must accept pedophiles because they have existed throughout history, in all cultures and societies. “Sexual abuse of minors is, and historically has been, a widespread phenomenon in all cultures and societies,” he said. “I am reminded of the cruel religious practice, once widespread in certain cultures, of sacrificing human beings – frequently children – in pagan rites.”
RUSSIA - Other than that Russian President Vladimir Putin declared an end to a nuclear arms treaty with the US — no biggie! — you’ll probably hear precisely nothing else from the press about what he had to say Tuesday during his lengthy address. That doesn’t mean the rest of his speech was unimportant. It means the national media, for their own reasons, don’t want you to hear it. But you should hear it because when you remove the name “Vladimir Putin” from the equation, what he said during that 100-minute address to his nation was both indisputably true and rational, even if it deflates the media’s incessant, eye-roll-worthy framing of the conflict in Ukraine as “Putin’s unprovoked war” and “a fight for democracy.” (Gag.) Here are three examples:
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The views expressed in this section are not our own, unless specifically stated, but are provided to highlight what may prove to be prophetically relevant material appearing in the media.