Last week, US Treasury Secretary Janet Yellen told the US Congress that “We now are entering a period of transition from one of historic recovery to one that can be marked by stable and steady growth. Making this shift is a central piece of the President’s plan to get inflation under control without sacrificing the economic gains we’ve made.”
It’s true that the US economy since the depths of the pandemic slump, (which remember in terms of national output, incomes and investment was the worst since the 1930s – even worse that the Great Recession of 2008-9) has made a recovery. But it could hardly be described as ‘historic’. And as for the claim that the US economy, the best performing of the major economies in the last year, is heading towards ‘stable and steady growth’, that is not supported by reality.
The scissors of slump
Tag: incomes
The Ouster Of Imran Khan: How Much Involvement Did the US Have in Pakistan’s Coup?
The Ouster Of Imran Khan: How Much Involvement Did the US Have in Pakista’s Coup?
On a regional level, the Khan administration has also taken steps that have angered the world’s sole superpower. Khan has attempted to increase close bilateral collaboration to improve trade and transport links with Iran, describing their 517-mile border as a frontier of “peace and friendship” and expressing his happiness at the “positive momentum in brotherly relations between the two countries.” In 2019, he also tried to broker peace negotiations between Iran and Saudi Arabia, an agreement that could have brought considerably more peace to the Middle East. The Trump administration vehemently opposed these negotiations, scuppering them weeks later by assassinating Iranian General Qassem Soleimani.
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While he has supported Iran, he has also publically opposed many of the policies of key U.S. allies Saudi Arabia and Israel. Khan successfully campaigned against Pakistani involvement in the Saudi-led war on Yemen, while he has consistently championed Palestinian rights and demanded the Muslim world do more to help them. “A day will come when Palestinians will get their own country, a just settlement, and they will be able to live as equal citizens,” he said last year, comparing their struggle to that of the worldwide campaign against Apartheid South Africa. Meanwhile, he has also publicly supported imprisoned publisher Julian Assange.
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The Pakistani military is thought to possess around 165 nuclear warheads. The country’s nuclear status came into sharp relief just as the campaign to oust Khan was heating up. While the world was concentrating on Ukraine, a potentially far more deadly incident occurred when India mistakenly fired a BrahMos cruise missile – the sort it uses to deliver its nuclear warheads – into Pakistan. In the course of routine maintenance, the rocket was accidentally launched. India did not immediately inform its neighbor of its mistake.
Ms. Cat’s Chronicles 
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